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El Salvador's Bitcoin -28%: Keep Stacking


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#11 Rogerdodger

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Posted 11 May 2022 - 11:04 PM

Could these waves capsize the whole economy?

 

Bitcoin, the most popular cryptocurrency, and Ether have both fallen more than 50%.

 

Coinbase shares have tumbled 84% since their first day of trading in April 2021.

Coinbase Founder Brian Armstrong had a personal fortune of $13.7 billion as recently as November and about $8 billion at the end of March.

That’s now just $2.2 billion.

 

The CEO of crypto merchant bank Galaxy Digital has seen his fortune plummet to $2.5 billion, from $8.5 billion in early November. He’s been a champion of TerraUSD, the algorithmic stablecoin that’s now at risk of a complete collapse.

 

COINBASE warns bankruptcy could wipe out user funds...
Half of value vanishes in days...
Billionaire Wealth Destroyed...


Edited by Rogerdodger, 11 May 2022 - 11:12 PM.


#12 CLK

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Posted 12 May 2022 - 07:37 AM

I really don't understand Coinbase's
decision or need to go public to start with, a private company would be safer. Moving some assets to another exchange now and may activate a ledger nano wallet offline at some point, all money in one spot is what destroys wealth.

RD, crypto always gets this going to zero mentality when in a bear market, this asset class is not in the same league as Tulip mania which burned out in 2 years, crypto doesn't just go up non- stop and then crash to zero never to be heard of again, it's 13 years old and is on its 3rd secular bear market. It held up so long after Dec. this time that I thought it wouldn't drop much more, wrong, but I will try to buy 2 BTC
and a lot of SHIBA near 7500 BTC which I had originally called for a low in November. Lows should be by December this year as is usually the case every 4 years. Crypto is more predictable than the stock market as this could end up 90% down as a 300 year secular bull market outlier.

Edited by CLK, 12 May 2022 - 07:40 AM.