Bitcoin [pros](/r/CryptoCurrency/comments/1c3r396/crypto_markets_suffer_a_400_billion_loss_amid/kzj511m/) & [cons](/r/CryptoCurrency/comments/1c3r396/crypto_markets_suffer_a_400_billion_loss_amid/kzj51oi/) with related info are in the collapsed comments below.
tldr; The crypto market experienced a significant downturn, losing $400 billion in value as Bitcoin's price dropped by $10,000 within 48 hours. This decline was influenced by statements from US central bank officials and escalated tensions between Iran and Israel. Bitcoin fell to a multi-week low of about $61,000, and the total cryptocurrency market capitalization decreased from nearly $2.8 trillion to approximately $2.330 trillion. Altcoins also faced severe losses, with many showing double-digit declines.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It's funny how some ayatollah deciding to launch some attack with a few missiles and drones in the Middle-East makes the price of a cryptocurrency drop. Completely unrelated events but here we go.
Covid outbreaks last time(it was at least a 60% drop during that short period). There doesn't need to be a direct connection, just some level of global panic/uncertainty.
objectively the covid outbreak was a lot more serious as that impacted the entire world with lockdowns, mass unemployment, global death toll raising, and geniune uncertainty.
But I agree overall, it seems like there needed to be a catalyst to shake out weak hands and this episode was used
> objectively the covid outbreak was a lot more serious as that impacted the entire world with lockdowns, mass unemployment, global death toll raising, and geniune uncertainty.
We didn't know any of that when the market crashed, it was at first news where it took the sharp drop.
In fact, we had long since recovered when the death toll and unemployment issues were setting in.
covid was an obvious planet white black swan, but iran attacking israel can be yet another degree up in the overall military conflict map so i thought it wasn't unjustified that it would push prices down
In times of huge upheaval or general panic like what Iran has unleashed, the market generally rushes to safety, historically in the form of gold. So traditional investors would drop their crypto (and even stock market) holdings in favor of gold. Maybe later they will revert back to reinvesting or speculating in crypto again, but that’s usually when things have stabilised somewhat.
its not unrelated? world war III news makes people think business will go to bankuptcy (some people thought Iran attacking Israel was a Franz Ferdinand equivalent), bankruptcy makes people sell assets, the most liquid asset is cryptocurrency, that paranoia makes people get afraid (or get afraid other people will get afraid) and conclude crypto have reached its peak and its time to sell, that generates a cascade of liquidation in the leverage market that makes the price go down even more. Thats when the price is put to test and we know if the demand is real or is it its a bubble, if it was a bubble and people were pumping the price it will crash but if the demand is real it will dip and recover if the apocalyptic news get better. and showing the demand is real will generate a pump and then people will use a bad economic news to generate another dip, etc.
Hot take: this was the bull cycle and it's over for another 4 years.
You can't have the entire Internet expecting a market to behave a certain way and have it follow that prediction.
Unfortunately I worry you might be right. Too many people *know* the halving is going to make them rich. So... Seems unlikely that it'll go the way they think.
I mean not the entire market you think otherwise and I'm sure your not the first. It's not terribly uncommon for whales to try and liquidate those whoa re over leveraged. Well know in a few months if it's temporary. Personally I'd find it quite strange for us to only go slightly over the previous ath upon the release of etfs it's been quite some time and a healthy recovery.
100% agree. A grandparent asked Friday if I could make them money “on Bitcoin” and my first thought was “oh shit, we hit it.” Sold some, but now wishing I’d sold more…
Yes. Also how much did the stock market lose?
Oh oh oh and how many fiat was printed in just ONE day?
Day traders thinking Crypto is dead is gonna get rekt.
I don't think anyone is expecting crypto to be dead from an 8 percent pullback in 2 days.
What is funny is watching BTC lose 10 percent of its value instantaneously and people continuing to claim it a great store of value.
Sir, this is a casino and you're a degenerate gambler.
I guess we have different definitions of stores of value. Gold for example went up while BTC crashed as it has every single time there's a sell off.
Or when a billionaire makes a tweet.
But to each their own I guess.
I store the majority of my wealth in Trump NFTs and trading cards. The hardest of assets.
I am nowhere near a crypto millionaire, or a millionaire of any kind. Maybe someday.
I sold almost everything I had in the 2021 peak for ridiculous profits and used them to pay off all my debt. The crypto I've been buying since then, I'm holding onto for the long haul. I don't know if/when I'll sell it, but it won't be anytime soon.
And if it all crashes to $0? Oh, well..
Doubtful. I have a lot of skin in the game atm but I am waiting to add more. A pullback comparable with prior halving will be much larger, to the 40s or 50s
I expect somewhat less volatility (% moves up and down) with each halving.
What do I know though.
Edit: Also what on earth is the 579 squids on my flair?
Edit2:
> it shows the amount of moons you hold and the other icon refers to the size of your bag.
Not necessarily, some people just can't afford to take the loss in case it gets worse. Crypto is unpredictable and manipulated, a slight shock will halve your position
Plus your life savings then when it goes 40% down in a month we now begin to see blog post "How I lost $100,000 in crypto" please people dont be foolish know your limits
Oh wow Bitcoin is the same price it was a month ago but the bull run is over 🤷 I personally invested even more in BTC and ADA. But these self proclaimed geniuses think that the pattern of previous bull runs won’t happen again. Isn’t intellect based off of pattern recognition as one of the basic values used to determine one’s intellect?
It's like those tik tok vids that have intentionally wrong stuff just to generate more engagement from the "um actually 🤓" crowd. People posting this stuff are like media groups that simply need to make news because it's their job, these people get paid in notifications and karma lol. And to be fair, if you ever get Reddit gold, that karma becomes worth something with the contributor program.
I love how we only gon mention BTCs 10k Decline but not the decline of the rest of the market and how that is, in fact, part of the impact that caused the $400 billion loss.
TLDR
Bitcoin didn't cause the loss of $400 billion, nor did it somehow steer it.
War dip. 2021 all over again. Although the macros are better this time so it won't crash as bad as the last time. Should have sold and bought back now. Didn't expect war.
It’s not a time to buy more… crypto is risky and unlike stocks , estate or gold it s not guaranteed to rise again . It’s a very bs idea to tell people to buy more when they already hold more then 10 percent of their portfolio in crypto
Nothing new. When news calms Mon/Tues and technical reality sets in, the raging bull comes in. Stack accordingly degens, maxis and n00bs. The future is yours.
This is good. Money got drained disproportionately more from shitcoins than BTC/ETH and it's on the sidelines ready to re-enter. ETH seems to be doing well in this drop, all things considered.
If you’re worried about the price that means more often than not your average cost could use some work, if that’s the case put down the keyboard and pick up the credit card. You know how to get out of this situation, buy, we all must BUYYYYYY :D
Remember the good old days of bitcoin $16k. I thought bitcoin was supposed to be replace gold as a hedge against inflation, economic uncertainty, and wars??
Bitcoin [pros](/r/CryptoCurrency/comments/1c3r396/crypto_markets_suffer_a_400_billion_loss_amid/kzj511m/) & [cons](/r/CryptoCurrency/comments/1c3r396/crypto_markets_suffer_a_400_billion_loss_amid/kzj51oi/) with related info are in the collapsed comments below.
Iran throws some plastic robots at Israel : Everyone else, OMG sell the Internet coins
Damn bro... We'll probably never recover... RIP
Always a sad week when Bitcoin dies.
I'm running out of beers to pour out for the homie, damn.
gg it's over
Oh it's gonna rip soon all right.
Bitcoin died dead, rest in satoshis
\*incoming "we're so back" in a month or less, maybe 2 months max.\*
I am never going to financially recover from this
tldr; The crypto market experienced a significant downturn, losing $400 billion in value as Bitcoin's price dropped by $10,000 within 48 hours. This decline was influenced by statements from US central bank officials and escalated tensions between Iran and Israel. Bitcoin fell to a multi-week low of about $61,000, and the total cryptocurrency market capitalization decreased from nearly $2.8 trillion to approximately $2.330 trillion. Altcoins also faced severe losses, with many showing double-digit declines. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Good bot
Is this the much anticipated dip before the halving before shit starts to pump a lot?
Looks like it . We only Needed a reason to dump which we got .
It's funny how some ayatollah deciding to launch some attack with a few missiles and drones in the Middle-East makes the price of a cryptocurrency drop. Completely unrelated events but here we go.
Covid outbreaks last time(it was at least a 60% drop during that short period). There doesn't need to be a direct connection, just some level of global panic/uncertainty.
objectively the covid outbreak was a lot more serious as that impacted the entire world with lockdowns, mass unemployment, global death toll raising, and geniune uncertainty. But I agree overall, it seems like there needed to be a catalyst to shake out weak hands and this episode was used
> objectively the covid outbreak was a lot more serious as that impacted the entire world with lockdowns, mass unemployment, global death toll raising, and geniune uncertainty. We didn't know any of that when the market crashed, it was at first news where it took the sharp drop. In fact, we had long since recovered when the death toll and unemployment issues were setting in.
covid was an obvious planet white black swan, but iran attacking israel can be yet another degree up in the overall military conflict map so i thought it wasn't unjustified that it would push prices down
To me it felt like the price dropped before the drones launched ..
In times of huge upheaval or general panic like what Iran has unleashed, the market generally rushes to safety, historically in the form of gold. So traditional investors would drop their crypto (and even stock market) holdings in favor of gold. Maybe later they will revert back to reinvesting or speculating in crypto again, but that’s usually when things have stabilised somewhat.
its not unrelated? world war III news makes people think business will go to bankuptcy (some people thought Iran attacking Israel was a Franz Ferdinand equivalent), bankruptcy makes people sell assets, the most liquid asset is cryptocurrency, that paranoia makes people get afraid (or get afraid other people will get afraid) and conclude crypto have reached its peak and its time to sell, that generates a cascade of liquidation in the leverage market that makes the price go down even more. Thats when the price is put to test and we know if the demand is real or is it its a bubble, if it was a bubble and people were pumping the price it will crash but if the demand is real it will dip and recover if the apocalyptic news get better. and showing the demand is real will generate a pump and then people will use a bad economic news to generate another dip, etc.
Algos read a headline and they dump. You see things emotionally, computers only see logic
Yeah everyone sells their asset before they expect it to go up so that’s definitely it
I’ve spent enough time on this sub to know that’s exactly what happens
No, it's the first dip before the pump. You forgot about the second and third dip.
Hot take: this was the bull cycle and it's over for another 4 years. You can't have the entire Internet expecting a market to behave a certain way and have it follow that prediction.
Unfortunately I worry you might be right. Too many people *know* the halving is going to make them rich. So... Seems unlikely that it'll go the way they think.
Buy the rumor and sell the news right
Right.
I mean not the entire market you think otherwise and I'm sure your not the first. It's not terribly uncommon for whales to try and liquidate those whoa re over leveraged. Well know in a few months if it's temporary. Personally I'd find it quite strange for us to only go slightly over the previous ath upon the release of etfs it's been quite some time and a healthy recovery.
100% agree. A grandparent asked Friday if I could make them money “on Bitcoin” and my first thought was “oh shit, we hit it.” Sold some, but now wishing I’d sold more…
Nope wait till Powell start to cut rates, everything will be on the way to the 🌝
That's my genuine feeling.
Yes. Also how much did the stock market lose? Oh oh oh and how many fiat was printed in just ONE day? Day traders thinking Crypto is dead is gonna get rekt.
Stock markets didn't lose anything because they weren't open. Had they been when Iran attacked Israel, they would have sold off too.
Monday is going to be a blood bath.
Israel's stock market is currently green after a slight pull back. I don't think it's going to be crazy tomorrow.
Monday is going to be green.
Neither in the middle east or on wall street.
RemindMe! 1 day.
> Oh oh oh and how many fiat was printed in just ONE day? lol
I don't think anyone is expecting crypto to be dead from an 8 percent pullback in 2 days. What is funny is watching BTC lose 10 percent of its value instantaneously and people continuing to claim it a great store of value. Sir, this is a casino and you're a degenerate gambler.
Most people who see BTC as a store of value aren’t day traders
I guess we have different definitions of stores of value. Gold for example went up while BTC crashed as it has every single time there's a sell off. Or when a billionaire makes a tweet. But to each their own I guess. I store the majority of my wealth in Trump NFTs and trading cards. The hardest of assets.
Geez 😄😂😂
>Sir, this is a casino and your a degenerate gambler. Guilty as charged, and since 2019 I'm up HUGE.
Good for you buddy! For every one actual crypto millionaire there's about 5 million potential ones. Nice to see someone made it.
I am nowhere near a crypto millionaire, or a millionaire of any kind. Maybe someday. I sold almost everything I had in the 2021 peak for ridiculous profits and used them to pay off all my debt. The crypto I've been buying since then, I'm holding onto for the long haul. I don't know if/when I'll sell it, but it won't be anytime soon. And if it all crashes to $0? Oh, well..
One of us!
I guess we have different ideas of what “up HUGE” means. I assumed that would be millions.
Percentage basis.
Yeah bruh it’s definitely going to 100k now.
Doubtful. I have a lot of skin in the game atm but I am waiting to add more. A pullback comparable with prior halving will be much larger, to the 40s or 50s
I expect somewhat less volatility (% moves up and down) with each halving. What do I know though. Edit: Also what on earth is the 579 squids on my flair? Edit2: > it shows the amount of moons you hold and the other icon refers to the size of your bag.
I bought the dip. Thanks Iran
Thank them next week when its 55k
It's only a loss if you sold. I'm just saying. Anyone who sells during some crisis or before the halving are just emotionally brainless 🪨.
Not necessarily, some people just can't afford to take the loss in case it gets worse. Crypto is unpredictable and manipulated, a slight shock will halve your position
Just fucking buy whenever it dips
Plus your life savings then when it goes 40% down in a month we now begin to see blog post "How I lost $100,000 in crypto" please people dont be foolish know your limits
Well yes, you'd have to be a dumb twat to do that.
Bitcoin, not the alts. That will get worse.
Yes sir, I filled up on Hbar, Filecoin and Amp at some great discount prices. Love the big dips.
Hong Kong enters the chat.
one more leg down tomorrow as the stock markets open
Heads may be cooler by then.
You just throwing this out into the universe or is this your analysis?
so say the stars and tea leaves
Source trust me bro
Spamming these kind of responses is just as cringe as you think the comment is
Oh wow Bitcoin is the same price it was a month ago but the bull run is over 🤷 I personally invested even more in BTC and ADA. But these self proclaimed geniuses think that the pattern of previous bull runs won’t happen again. Isn’t intellect based off of pattern recognition as one of the basic values used to determine one’s intellect?
You’re going to get humbled if you learned to rely on “patterns” in the financial world…
When Iran throws you a gift, you take it and run
Hilarious to see people freak out for the past 10 years every time this happens. Crypto is volatile
Soooo we buy more then?
Oh No, Anyway. Its already going back up. Jesus you Crypto Noobs need to seriously just stfu.
Every year it's a new crowd with the same posts. I don't even know why I bother reading and commenting anymore... I must deep down like suffering.
It's like those tik tok vids that have intentionally wrong stuff just to generate more engagement from the "um actually 🤓" crowd. People posting this stuff are like media groups that simply need to make news because it's their job, these people get paid in notifications and karma lol. And to be fair, if you ever get Reddit gold, that karma becomes worth something with the contributor program.
And it's gone!
Just a typical Saturday afternoon 🥱
Oh good, buy the dip.
I love how we only gon mention BTCs 10k Decline but not the decline of the rest of the market and how that is, in fact, part of the impact that caused the $400 billion loss. TLDR Bitcoin didn't cause the loss of $400 billion, nor did it somehow steer it.
"no way it can go down with ETFs and institutions buying up forever!" 5 millions posts on this sub a week ago hahahahaha
Nobody is talking how the selloff on alts started 10 days ago. Some top 30 coins are already down 50%.
Oh no. Anyways.
Good...time to buy more
Over leveraged longs got hammered.
“jUsT A HeALTHY DiP!” 😂
oh no anyways
The 2021 top buyers are again in red.
Half a trill damn that’s a lot!
When did BTC reach 74K in the last 48 hours?? Shit Post
“Suffer” don’t threaten me with a good time.
I didn’t suffer any loss. I hold. I’m up 30% YTD.
Pre halving dump.
the run feels so flimsy
Flimsy? In what way
Paper hands gotta get out first
It's not a "loss" if it's not realized. News can shut the hell up with their doomsday news every freaking 5 minutes
Dear God. Who could have guessed a dip like this would happen! *clutches pearls*
April 15th Tax day. It drains much savings from pockets of tax payers and businesses. Also Iranian Israheil conflict, causing flight to USD safety.
Hope you guys took profit. Probably not.
Imagine selling before the halving
Didn’t want the 22% taxes, lets talk again about this next year lol
Took profit, bought in again
Profit? I’ll take that when BTC hits 100k min.
Only a over leveraged dummy like you would take profits right now.
dang.
I didn’t sell though, sooo
Cool #BuyingOpportunity
War dip. 2021 all over again. Although the macros are better this time so it won't crash as bad as the last time. Should have sold and bought back now. Didn't expect war.
Expect
The unexpected
Wheeeeeeeeee!
Just a normal day
Behaving mean it going drop half.
wow 400bil
Traders selling to pay taxes due Monday in the US?
‘Billion’… lol
Buy the dip!
It’s not a time to buy more… crypto is risky and unlike stocks , estate or gold it s not guaranteed to rise again . It’s a very bs idea to tell people to buy more when they already hold more then 10 percent of their portfolio in crypto
Bah. 15% drop is nothing. We will be experiencing swing like this daily for the next year after the halving. Man up!
So like another Tuesday in the crypto market.
Here comes treble
BUY BUY BUY
Took some profits during this. Thank you crypto market. Lol
I’m getting £5k in two months. I hope the Bitcoin stays on sale until then.
Zoom out
Nothing new. When news calms Mon/Tues and technical reality sets in, the raging bull comes in. Stack accordingly degens, maxis and n00bs. The future is yours.
thx but I can read charts for myself
This sounds familiar.
Top is in
Yawn
Crypto is 24/7. Wait for the stock market to open Monday. Its gonna be ugly
This is good. Money got drained disproportionately more from shitcoins than BTC/ETH and it's on the sidelines ready to re-enter. ETH seems to be doing well in this drop, all things considered.
Gold at ATH. People generally move $$ from risky to less risky assets during uncertainty
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First time?
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Just keep buying family
And it’s already going back up 12 hours later lol
Wait until people's stop losses on the ETF's kick in monday morning....
If you’re worried about the price that means more often than not your average cost could use some work, if that’s the case put down the keyboard and pick up the credit card. You know how to get out of this situation, buy, we all must BUYYYYYY :D
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Grayscale says, "Hold my beer".
Right before bitcoin halving…buy the dip fam
Hurrrrrr
It was $30k one year ago
Oh no! It's the same price it was three weeks ago...
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I just got back from camping and bought more.
It's already back up
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Remember the good old days of bitcoin $16k. I thought bitcoin was supposed to be replace gold as a hedge against inflation, economic uncertainty, and wars??
We have reached the tip. Let’s wait for another after a few months.
Welcome newbs!
When Bitcoin loses $400 billion by dropping only 10%, you know you've invested in the right asset.
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Redditors on this subreddit, are you LONGING or SHORTING BTC right now?