Bitcoin falls to lowest level since last July

Bitcoin falls to lowest level since last July with nearly $300bn of crypto value wiped out over the last four days

Bitcoin dropped to $32,700 this morning, its lowest point since July 2021

It has fallen 15% in the past week and halved since November record peak

Sell-off is across the board, with ethereum, solana and cardano all lower

This is a worry for high-growth companies such as Amazon, Facebook-owner Meta and Netflix, as much of their valuation is based on the belief that they will rake in money over the future.…

1 Like

Amazon has so many things going on it will not disrupt them much at all.
Phrama and more.

Anyone long stocks should be pleased.

The more purchasing power is taken away from owners and skimmers of this stuff the lower inflation will be and so the less stress the Fed will need to put on stocks.

Sell-off is across the board, with ethereum, solana and cardano all lower

I have done a complete recalculation of when to release my NFTs. I have been racing against my self. I am ahead of schedule by a few weeks.

I want the lower prices. Means I can get more eth for my NFTs. When something is low in price it is given away more so. I might hold the Eth for a month. The lower it goes with the discount…I am using calling things like high oil because of cutting of Russia a premium…the better because Eth will bounce back. The laws of smaller numbers the percentages are higher.

The Difficulty Bomb should be a non issue. PoW and PoS are both currently being used. When Ethereum’s blockchain goes completely PoS there will not be any surprise technical problems.

I would not hold Eth for long. I do not know if there will be another leg down. Would not surprise me. Meanwhile I hope to be in USD.

1 Like

Crypto is $1 tr give or take in capitalization. And it is global.

The larger economy and assets in particular dwarf that.

The market is a very odd house of cards. As the financials and tech fall everything will fall.

If we are going to be pleased at all that will be based on buying opportunities.

Tulip manias (trading cards, beanie dolls, and remember seeing evidence that Romans long ago went through a mania for exotic corals…) tend to happen when people having lots of cash and not enough solid investment opportunities or sufficiently satisying expenditure options or good sense.

The crypto-currencies tulip mania might be coming to an end as FOMO turns into “where is the damn exit 'cuz I smell smoke in this theater.” However, crypto based secure and rapid financial transactions may be about to boom, which would overjoy me. I live in Mexico and frequently have to use now hopelessly obsolete and idiotic “identifying” methodologies of notarized signatures (by appointment only at USA consul office with days to weeks long waiting times for appointments and significant costs), “medallions”, and “apostilles” at huge cost in time. Dumping all that for digitally mediated crypto ledger transactions cannot happen soon enough for me, but financial institutions seem unable to move on it. Yet.

Medallions in particular are beyond idiotic. Out of curiosity I asked one of the kids I mentor if she could fake a medallionized seal from a mere photocopy image. She came back after just 2 days with an utterly convincing 3-D fake of the correct color, size, and and shape, and even got the ribbon right (her mother runs a papeleria, a typical small stationery shop). She used photoshop and a 3-D printer she had access to at her college and it took her less than three hours of effort. She was amazed that anyone would still require and trust such stupidities.

david fb


Anyone long stocks should be pleased.

Price crashes cause margin calls which cause unplanned, uncontrolled stock sales, the market equivalent of a nuclear chain reaction. This is good for shorts and cash hoarders. If you have a sturdy, debt free stock portfolio, the bitcoin crash is just noise, neither good nor bad.

The Captain


Tether coin (UST) suffered an assault on it’s peg yesterday.

These events are non trivial. They are laying the bedrock for how to do this (make things safe, secure and functional) for real in the mainstream markets.