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thomas91169

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Maybe someone can answer, I noticed today all crypto dumped at exactly 1:00pm my time. Any idea why?
 

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svtfocus2cobra

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Maybe someone can answer, I noticed today all crypto dumped at exactly 1:00pm my time. Any idea why?

There are a articles attributing it to Doge and Musk calling it a hustle, but I don't know if that explains why all of them dropped about the same amount unless it spurred a routine sell off for profits.
 

thomas91169

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There are a articles attributing it to Doge and Musk calling it a hustle, but I don't know if that explains why all of them dropped about the same amount unless it spurred a routine sell off for profits.

Ah, this was from today. Just something I noticed that struck me as weird.
 

jvandy50

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it does that often, but sometimes when they all drop, DOGE goes up. i have no idea the rhyme or reason...or i'd probably be rich
 

q6543

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Yesterday's dip looked like it was a 250 coin sell order.... 15 million dollar order snowballed a 4% dip. ... 15 million dollars unwound almost 40 Billion.
 

Weather Man

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Yesterday's dip looked like it was a 250 coin sell order.... 15 million dollar order snowballed a 4% dip. ... 15 million dollars unwound almost 40 Billion.

I have a mental image a room full of traders waiting for someone to yell sell!
 

Weather Man

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Crikey!


Bitcoin plunges, crypto world erupts as Elon Musk questions energy usage
  • "Elon Musk reveals himself a scammer," is the title of a hotly-attended (roughly about 2K folks at pixel time) Clubhouse discussion taking place right now. Needless to say, the mood is salty.
  • Earlier this evening, the Tesla chief tweeted that his company would no longer accept bitcoin (BTC-USD) as payment, calling bitcoin mining an enemy of the environment. Importantly, Musk said Tesla (NASDAQ:TSLA) wouldn't be selling any of its bitcoin stash.
  • Microstrategy (NASDAQ:MSTR) CEO Michael Saylor weighs in with a response to Musk's tweet: "Ironic because no incremental energy is used in a #bitcoin transaction. The energy is used to secure the crypto-asset network, and the net impact on fossil fuel consumption over time will be negative, all things considered." Saylor's Microstrategy is the holder of more than 90K bitcoins.
  • Curious to more folks than Saylor, Musk just three weeks ago was in agreement with Square's (NYSE:SQ) Jack Dorsey who said Bitcoin would a "key driver of renewable energy's future."
  • Bitcoin Magazine: "[We've] suspended purchasing any Teslas. We are concerned about the rapid increase in bad arguments, especially energy FUD, from the company's CEO."
  • Well-followed Bitcoin bull Udi Wertheimer: "I was extremely bullish just hours ago but things changed ... I'm short-term bearish, not just on bitcoin. Hope I'm wrong."
  • Dave Portnoy: "Unlike @elonmusk I am not flip flopping every other second about #bitcoin. You will have to rip my bitcoin from my cold dead hands."
  • Cameron Winklevoss: "When Elon realizes that bitcoin mining is actually pushing the renewable energy industry forward, he will refresh position and #bitcoin will moon." His brother Tyler: "Bitcoin mining is a massive subsidy for renewable energy."
  • Trading at about $58K earlier today, bitcoin is now down to about $47K, or roughly 30% below its all-time high just shy of $65K.
 

svtfocus2cobra

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Now I wish Musk would just STFU about all of this stuff and stop going back and forth causing these fluctuations. I was under the impression though that this drop today was a reflection of the stock market drop. Sounds a little more realistic to me.
 

MG0h3

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Now I wish Musk would just STFU about all of this stuff and stop going back and forth causing these fluctuations. I was under the impression though that this drop today was a reflection of the stock market drop. Sounds a little more realistic to me.

I think it only makes sense that as crypto becomes more and more mainstream, it will follow “market” trends.

I see these posts about big investment firms listing it and there ya go. Likely stay more volatile and work well for day/swing trades.

On another note, finally realized that Binance is not allowed in TX.

Got my Coinbase fired back up and they are carrying more and more Alt coins it seems.




Sent from my iPhone using the svtperformance.com mobile app
 

q6543

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Today when that hot inflation print hit, boom... the dollar ran as hard and green as ever.

Crypto sold off in lock step as high beta growth tech.
And that is exactly what it is. High beta growth technologies.
 

Weather Man

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Elon Musk continues attack on Bitcoin mining energy usage
May 13, 2021 7:09 AM ETBitcoin USD (BTC-USD)By: Stephen Alpher, SA News Editor62 Comments
  • Following up on his tweet last night, Elon Musk this morning posts a chart of bitcoin (BTC-USD) mining energy usage, calling the trend over the past few months "insane."
  • This latest tweet has cut short a decent bounce for bitcoin into the low $50K range. The price has now returned to $48.5K, down 14% from a day ago. The action in alternative cryptos is as bad or worse. Ether (ETH-USD) down 15%, Binance Coin (BNB-USD) down 14%, Dogecoin (DOGE-USD) down 24%.
  • Bitcoiners are pointing out the fallacy in Musk's tweeting, noting mining has nothing to do with bitcoin transactions (which Musk's Tesla will no longer accept), and everything to do with securing the network (Musk announced his intention to hold onto Tesla's $1.5B stash).
  • Crypto-related stocks are all down double-digit percentages this morning: Riot Blockchain (NASDAQ:RIOT), Marathon Patent (NASDAQ:MARA), Microstrategy (NASDAQ:MSTR). Tesla (NASDAQ:TSLA) is lower by 1.4%, now off 35% from its all-time high. Others worth watching: Grayscale Bitcoin Trust (OTC:GBTC), SOS (NYSE:SOS), Canaan (NASDAQ:CAN), Galaxy Digital (OTCPK:BRPHF).
  • Previously: Bitcoin plunges, crypto world erupts as Elon Musk questions energy usage (May 12)
 

mysticsvt

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Anyone keeping up with the this Doge Millionaire kid? They are trying to get his ass to sell and he just won't. He's been lucky thus far but honestly I think he should take out a mill and put the rest in Eth for the long haul and not be greedy with such an unstable coin.
 

Weather Man

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Elon Musk and Bitcoiners engage in all-out war; Bitcoin dives to cycle low
  • "We were anticipating nation states and central banks, but instead got an emotional billionaire with a Twitter account," tweets Anthony Pompliano.
  • A full-out shooting war has broken out today between Elon Musk and Bitcoin (BTC-USD) fans, with Musk suggesting a couple of hours ago that Tesla (NASDAQ:TSLA) has already or intends to unload its $1.5B in bitcoin holdings.
  • Musk began Sunday afternoon by making fun of Microstrategy's Micahel Saylor (NASDAQ:MSTR), and things devolved from there. At one point, Musk pointed out that he's the guy behind PayPal (that's arguable), and how dare Bitcoiners try to tell him how money works. That provoked the natural response that Bitcoin is the anti-PayPal (i.e. decentralized vs. centralized).
  • Bitcoin fell as low as $44K this afternoon, and is currently down 6% to $45.2K, now 30% off from an all-time high hit a few weeks ago. Ethereum (ETH-USD) is down 7.5% to $3,485, and Dogecoin (DOGE-USD) is off 4.5% to $0.49.
 

CompOrange04GT

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Elon tweeted today that Tesla was gonna sell all its Bitcoin


Ruhhhhrohhh
 

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