Celsius caused the bitcoin crash. Macro factors, interest rates, tech coupling obviously in play but Luna, Celsius, Binance problems, Merge delay and other exchange problems are why it's gone so low. All of these problems happened within the last week.ironically or sadly , the majority of Americans have no idea of this danger. They are just use to being #1, cultural. Dont care how it happens, just that it does
what should be clear to most, but likely isnt, is the Fed is the guy that runs the show. There has been NO fiscal responsibility , its been a 'print USD show'. He pulled the plug, HAD TO . Threatened to do so in late 2018, had to save the market in Jan 2019 . Instead of raising rates in Dec 2021 he 'advised' they at a later date , allowed for the annual Santa Claus rally. The guy's hands r tied, people do see this, no?
with THAT said, if you're living in USA , you either consciously or subconsciously believe its 'going to be okay'. if not, why r u still there?
when u buy a car, do you want to buy it at cost? or 20% off?
for recent retirerees or near term retirees not good. Always a good idea to have a plan B. have a cash reserve, to NOT have to sell in a panic , cash reserve + dividends + selling calls for 5 yrs . Why 5? cause historically it repairs itself within this time frame. Usaully WAY earlier than 5 . Check the data, dont believe me
TA, June MONTHLY candle broke the May low , not good. June candle is not done , getting severely oversold, again on the MONTHLY!!!!!!!. The daily has TWO gap downs, not stable. The VIX has a GAP UP!!! ALL gaps fill on the VIX, all of them, its an oscillator. DONT believe me, check for yourself. That gap will be filled .
(sorry BTC holders, 28,800 ish broke. BTC , like Au, AG, do not pay dividends )
Never played any crypto , interesting read.
OPINION
GUEST ESSAY
Yes, Crypto Is Crashing Again. Blockchain Will Survive.
By Maria Bustillos NYT
Ms. Bustillos has built journalism platforms using blockchain technology.
This week, the crypto market plummeted for the second time in a month, in tandem with a sharp drop in global stock markets. The collapse, not the first of its kind, showed again how the violent swings of a largely unregulated market warp the development of a transformative technology. But crypto is just one aspect of the larger blockchain universe. Its skeptics and fans alike must learn to see it as a technological experiment, instead of just a blatant scam or a speculative path to riches.
Why has the market fallen apart in such spectacular fashion?
The first recent crash, when the cryptocurrency market plunged 36 percent in a week in May, offers a clue. The collapse was largely set off by the death spiral of a cryptocurrency system called Terra Luna, made up of the coin Luna and its associated stablecoin, TerraUSD. At its dizzying heights in the spring, it represented roughly 3 percent of the total crypto market. Fear spread throughout the exchanges, and with it came panic selling.
After the second crash this week, the cryptocurrency market is still worth in total nearly $1 trillion (about one-third of last November’s peak). Only a few of the 19,000 cryptocurrencies that have been created since 2009 are now worth billions. Most have failed. The crypto market is wildly volatile not because of cryptocurrency’s underlying technology, but because of the uneasy and often dangerously unstable junction between emerging technologies and regular money. Viewed from the long perspective of market history, this instability isn’t remotely new.
In the late 1990s and early 2000s, internet stocks were a white-knuckle ride, just as crypto is now. Back then, too, hucksterism was rampant, the atmosphere was like a casino, and almost any idea with an “e” in front of it — no matter how reckless or silly — attracted attention from investors and the news media. Seemingly every day, fortunes were spectacularly made and lost.
But even as Napster, Webvan and eToys flamed out, a revolution was taking place. Despite all the shenanigans going on in the casino, real and lasting companies, publications and communities were built and thrived online. The internet survived, more or less.
Terraform Labs, the company behind TerraUSD and Luna, was founded in 2018 by Do Kwon, a computer scientist and entrepreneur in South Korea. Mr. Kwon, now 30, is a notoriously brazen hustler who has made waves for calling his critics “poor” and “cockroaches.” But despite his lack of polish, and the early warnings from developers and analysts about the technical weaknesses of his plans, he succeeded in raising $200 million in venture capital from 2018 to 2021. His company boasted of reaching an elusive goal in crypto, namely, the establishment of a truly “decentralized” stablecoin.
Stablecoins, which serve as a kind of bridge between crypto and ordinary money, have so far required vast amounts of old-fashioned real-world collateral to work, contrary to crypto’s original aim of eliminating reliance on legacy financial systems. Terra Luna was an algorithmic stablecoin system in which “stability” was supposedly guaranteed by mathematical mechanisms and incentives. Like those high-flying early internet stocks, these, too, proved vulnerable when trust failed.
In the 2000s, the alchemists of collateralized debt obligationsturned junk securities into AAA gold through the mathematical magic of “bundling.” The arcane mathematics underpinning algorithmic stablecoin systems like Terra Luna gave off the same captivatingly mysterious vibe. But when more and more borrowers defaulted, collateral debt obligations and other exotic derivatives — which Warren Buffett once called “financial weapons of mass destruction” — collapsed, contributing to the 2008 global financial crisis. Echoes of the destructive power of derivatives can be heard in the story of the equally exotic Terra Luna.
Risk like this can go unperceived for only so long. The sad thing is that when risk suddenly becomes manifest, it takes real people’s money and, often, good and promising projects down with it. Or even whole economies: Losses in the 2008 crash were estimated at more than $10 trillion in the United States alone — a sum that dwarfs the most destructive swings in crypto so far.
As Terra Luna’s death spiral accelerated, its supporters, known as “Lunatics,” lurched between terror and hope as Mr. Kwon shoveled more than $1 billion in Bitcoin into the system in an attempt to restore stability. “Deploying more capital — steady lads,” he tweeted.
But ultimately, there wasn’t enough cash coming in to make up for outflow, just as in an ordinary bank run, and this particular experiment in replacing trust with mathematics was at an end. Among the many thousands of failed crypto experiments, Terra Luna stands out as one of the largest, taking with it roughly $60 billion in total market value.
The vociferous opponents of crypto have been quick to celebratethe death of the blockchain, insisting that all crypto is fraudulent. These critics are a mirror image of the equally unrealistic cheerleaders at the opposite end of the spectrum: the pro-crypto libertarians clamoring for a financial world with no regulations whatsoever.
Responsible players in the crypto market have been calling for and helping to develop sensible regulatory frameworks for many years.A bedrock of crypto regulations already exists; in the United States, federal agencies such as the Financial Crimes Enforcement Network, the Securities and Exchange Commission and the Commodity Futures Trading Commission started weighing in on separate aspects of trade and taxation in 2013. In October, the Department of Justice announced the formation of the National Cryptocurrency Enforcement Team. The list of crypto scammerswho have gone to jail already far surpasses the number of bankers jailed in the United States for their role in the 2008 financial crisis.
continued below
In the early days of the internet, the circus atmosphere made it easy to ignore the dangers that were brewing — surveillance capitalism and illegal government snooping among them — and that would have grave global consequences. In time, regulations were put in place: privacy frameworks, like some provisions of the 1999 Gramm-Leach-Bliley Act in the United States and the 2016 General Data Protection Regulation in Europe, and speech protections like Section 230 of the Communications Decency Act.
At the same time, the marvels of the internet multiplied, magic that by now seems unremarkable: a map of the world, street by street, in your pocket; instant translations from almost any language; a look-up service for every branch of knowledge; global, near-instantaneous news. Today’s internet is deeply woven into the world’s economies, media, politics, industry and social life, in good ways and bad.
A similar evolution is in the works for crypto. Blockchain, the technology that makes cryptocurrency possible, has the potential to be just as transformative as the internet innovations on which we depend every day, and industries like supply chain management, finance and pharma have already begun to find uses for it.
It’s possible to imagine a future where you might look up the fate of every tax dollar you’ve paid, and government corruption becomes all but impossible; where beautiful and important stories and music, games and art would never disappear from the internet; where, instead of being forced to rely on a big power company, you might buy and sell surplus solar energy from or to your own neighbors, and never face another blackout. Wherever tamper-proof, independent record-keeping is needed, Blockchain could keep all the receipts, available and safe, for anyone to see.
But in order to make a world like that possible, crypto must be responsibly integrated into the existing global economy. Regulators, the media and market participants must get on the same page to balance the benefits of innovation against the need to prevent harm, and naked greed should be roundly chastised, not encouraged.
To many, the possibility of huge profits is the most interesting thing about crypto — it’s a gold rush in which anyone can suddenly become rich beyond his or her dreams. But the regrettable get-rich-quick mentality that has too long been associated with entrepreneurship, in crypto and elsewhere, must come to an end.
After all, just as most everyone keeps going to work whether the stock market is soaring or tanking, the practical, real-world work of developing blockchain technology will keep on going, independent of the histrionics of the market.
At the same time, the marvels of the internet multiplied, magic that by now seems unremarkable: a map of the world, street by street, in your pocket; instant translations from almost any language; a look-up service for every branch of knowledge; global, near-instantaneous news. Today’s internet is deeply woven into the world’s economies, media, politics, industry and social life, in good ways and bad.
A similar evolution is in the works for crypto. Blockchain, the technology that makes cryptocurrency possible, has the potential to be just as transformative as the internet innovations on which we depend every day, and industries like supply chain management, finance and pharma have already begun to find uses for it.
It’s possible to imagine a future where you might look up the fate of every tax dollar you’ve paid, and government corruption becomes all but impossible; where beautiful and important stories and music, games and art would never disappear from the internet; where, instead of being forced to rely on a big power company, you might buy and sell surplus solar energy from or to your own neighbors, and never face another blackout. Wherever tamper-proof, independent record-keeping is needed, Blockchain could keep all the receipts, available and safe, for anyone to see.
But in order to make a world like that possible, crypto must be responsibly integrated into the existing global economy. Regulators, the media and market participants must get on the same page to balance the benefits of innovation against the need to prevent harm, and naked greed should be roundly chastised, not encouraged.
To many, the possibility of huge profits is the most interesting thing about crypto — it’s a gold rush in which anyone can suddenly become rich beyond his or her dreams. But the regrettable get-rich-quick mentality that has too long been associated with entrepreneurship, in crypto and elsewhere, must come to an end.
After all, just as most everyone keeps going to work whether the stock market is soaring or tanking, the practical, real-world work of developing blockchain technology will keep on going, independent of the histrionics of the market.
Another opinion. time to buy in soon?
By David Yaffe-Bellany and Erin Griffith
June 14, 2022
Leer en español
SAN FRANCISCO — No one wanted to miss out on the cryptocurrency mania.
Over the last two years, as the prices of Bitcoin and other virtual currencies surged, crypto start-ups proliferated. Companies that market digital coins to investors flooded the airwaves with TV commercials, newfangled lending operations offered sky-high interest rates on crypto deposits and exchanges like Coinbase that allow investors to trade digital assets went on hiring sprees.
A global industry worth hundreds of billions of dollars rose up practically overnight. Now it is crashing down.
After weeks of plummeting cryptocurrency prices, Coinbase said on Tuesday that it was cutting 18 percent of its employees, after layoffs at other crypto companies like Gemini, BlockFi and Crypto.com. High-profile start-ups like Terraform Labs have imploded, wiping away years of investments. On Sunday, an experimental crypto bank, Celsius, abruptly halted withdrawals.
The pullback in the crypto ecosystem illustrates the precariousness of the structure built around these risky and unregulated digital assets. The total value of the cryptocurrency market has dropped by about 65 percent since autumn, and analysts predict the sell-off will continue. Stock prices of crypto companies have cratered, retail traders are fleeing and industry executives are predicting a prolonged slump that could put more companies in jeopardy.
“The tide has gone out in crypto, and we’re seeing that many of these businesses and platforms rested on shaky and unsustainable foundations,” said Lee Reiners, a former Federal Reserve official who teaches at Duke University Law School. “The music has stopped.”
Cryptocurrencies are digital coins exchanged using networks of computers that verify transactions, rather than a centralized entity like a bank. For years, they have been marketed as a hedge against inflation caused by central banks flooding the economy with money. Bitcoin, the most valuable cryptocurrency, has a built-in limit to its supply.
But now with stocks crashing, interest rates soaring and inflation high, cryptocurrency prices are also collapsing, showing they have become tied to the overall market. And as people pull back from crypto investments, the outflow is exposing the unstable foundations of many of the industry’s most popular companies
More than 62 crypto start-ups are now worth $1 billion or more, according to CB Insights, a firm that tracks private financing. Last year, the industry received more than $25 billion in venture funding across roughly 1,700 deals, according to research from The Block. OpenSea, the largest marketplace for the unique digital images known as nonfungible tokens, reached a staggering $13 billion valuation. And Wall Street banks such as JPMorgan Chase, which previously shunned crypto assets, and Fortune 500 companies like PayPal rolled out crypto offerings.
Many of these companies are equipped to survive a downturn in cryptocurrency prices. But cutbacks are likely to continue as they adjust their strategies after years of excessive growth. Among the most vulnerable may be start-ups that launched their own cryptocurrencies, as prices plummet across the board.
Some industry experts have long said the exuberant growth of the last two years wasn’t going to last forever, comparing it to the late-1990s dot-com boom. At the time, dozens of dot-com companies were going public amid hysteria over the early promise of the internet, even though few of them made money. When confidence evaporated in the early 2000s, many of the dot-coms went bust, leaving just the biggest — such as eBay, Amazon and Yahoo — standing.
This time, investors predict there will be more survivors. “You certainly have some overhyped companies that don’t have the fundamentals,” said Mike Jones, an investor at the venture firm Science Inc. “But you also have some really strong companies that are trading way below where they should.”
There have been warning signs that some crypto companies were not sustainable. Skeptics have pointed out that many of the most popular firms offered products underpinned by risky financial engineering.
Terraform Labs, for example, offered TerraUSD, a so-called stablecoin with a fixed value linked to the U.S. dollar. The coin was hyped by its founder, Do Kwon, who raised more than $200 million from major investment firms such as Lightspeed Venture Partners and Galaxy Digital, even as critics warned that the project was unstable.
The coin’s price was algorithmically linked to a sister cryptocurrency, Luna. When the price of Luna plummeted in May, TerraUSD fell in tandem — a “death spiral” that destabilized the broader market and plunged some investors into financial ruin.
This week, Celsius’s announcement that it was freezing withdrawals had a similar impact. Celsius had aggressively marketed its banklike lending service to customers, promising yields as high as 18 percent if they deposited their crypto holdings with the company.
continued below.
‘The Music Has Stopped’: Crypto Firms Quake as Prices Fall
Crypto companies are laying off staff, freezing withdrawals and trying to stem losses, raising questions about the health of the ecosystem.By David Yaffe-Bellany and Erin Griffith
June 14, 2022
Leer en español
SAN FRANCISCO — No one wanted to miss out on the cryptocurrency mania.
Over the last two years, as the prices of Bitcoin and other virtual currencies surged, crypto start-ups proliferated. Companies that market digital coins to investors flooded the airwaves with TV commercials, newfangled lending operations offered sky-high interest rates on crypto deposits and exchanges like Coinbase that allow investors to trade digital assets went on hiring sprees.
A global industry worth hundreds of billions of dollars rose up practically overnight. Now it is crashing down.
After weeks of plummeting cryptocurrency prices, Coinbase said on Tuesday that it was cutting 18 percent of its employees, after layoffs at other crypto companies like Gemini, BlockFi and Crypto.com. High-profile start-ups like Terraform Labs have imploded, wiping away years of investments. On Sunday, an experimental crypto bank, Celsius, abruptly halted withdrawals.
The pullback in the crypto ecosystem illustrates the precariousness of the structure built around these risky and unregulated digital assets. The total value of the cryptocurrency market has dropped by about 65 percent since autumn, and analysts predict the sell-off will continue. Stock prices of crypto companies have cratered, retail traders are fleeing and industry executives are predicting a prolonged slump that could put more companies in jeopardy.
“The tide has gone out in crypto, and we’re seeing that many of these businesses and platforms rested on shaky and unsustainable foundations,” said Lee Reiners, a former Federal Reserve official who teaches at Duke University Law School. “The music has stopped.”
Cryptocurrencies are digital coins exchanged using networks of computers that verify transactions, rather than a centralized entity like a bank. For years, they have been marketed as a hedge against inflation caused by central banks flooding the economy with money. Bitcoin, the most valuable cryptocurrency, has a built-in limit to its supply.
But now with stocks crashing, interest rates soaring and inflation high, cryptocurrency prices are also collapsing, showing they have become tied to the overall market. And as people pull back from crypto investments, the outflow is exposing the unstable foundations of many of the industry’s most popular companies
More than 62 crypto start-ups are now worth $1 billion or more, according to CB Insights, a firm that tracks private financing. Last year, the industry received more than $25 billion in venture funding across roughly 1,700 deals, according to research from The Block. OpenSea, the largest marketplace for the unique digital images known as nonfungible tokens, reached a staggering $13 billion valuation. And Wall Street banks such as JPMorgan Chase, which previously shunned crypto assets, and Fortune 500 companies like PayPal rolled out crypto offerings.
Many of these companies are equipped to survive a downturn in cryptocurrency prices. But cutbacks are likely to continue as they adjust their strategies after years of excessive growth. Among the most vulnerable may be start-ups that launched their own cryptocurrencies, as prices plummet across the board.
Some industry experts have long said the exuberant growth of the last two years wasn’t going to last forever, comparing it to the late-1990s dot-com boom. At the time, dozens of dot-com companies were going public amid hysteria over the early promise of the internet, even though few of them made money. When confidence evaporated in the early 2000s, many of the dot-coms went bust, leaving just the biggest — such as eBay, Amazon and Yahoo — standing.
This time, investors predict there will be more survivors. “You certainly have some overhyped companies that don’t have the fundamentals,” said Mike Jones, an investor at the venture firm Science Inc. “But you also have some really strong companies that are trading way below where they should.”
There have been warning signs that some crypto companies were not sustainable. Skeptics have pointed out that many of the most popular firms offered products underpinned by risky financial engineering.
Terraform Labs, for example, offered TerraUSD, a so-called stablecoin with a fixed value linked to the U.S. dollar. The coin was hyped by its founder, Do Kwon, who raised more than $200 million from major investment firms such as Lightspeed Venture Partners and Galaxy Digital, even as critics warned that the project was unstable.
The coin’s price was algorithmically linked to a sister cryptocurrency, Luna. When the price of Luna plummeted in May, TerraUSD fell in tandem — a “death spiral” that destabilized the broader market and plunged some investors into financial ruin.
This week, Celsius’s announcement that it was freezing withdrawals had a similar impact. Celsius had aggressively marketed its banklike lending service to customers, promising yields as high as 18 percent if they deposited their crypto holdings with the company.
continued below.
For months, critics wondered how Celsius could sustain such high yields without putting its depositors’ funds in jeopardy through risky investments. The company drew scrutiny from several state regulators. In the end, a drop in crypto prices appeared to put the company under more pressure than it could withstand.
With the price of Bitcoin tumbling, Celsius announced on Sunday that it was freezing withdrawals “due to extreme market conditions.” The company did not respond to a request for comment.
The market instability has also triggered a crisis at Coinbase, the largest U.S. crypto exchange. Between the end of 2021 and late March, Coinbase lost 2.2 million active customers, or 19 percent of its total, as crypto prices dropped. The company’s net revenue in the first three months of the year shrank 27 percent from a year earlier, to $1.2 billion. Its stock price has plunged 84 percent since it went public last year.
This month, Coinbase said it would rescind job offers and extend a hiring freeze to battle the economic downturn. On Tuesday, it said it would cut about 1,100 workers.
Brian Armstrong, Coinbase’s chief executive, informed employees of the layoffs in a note on Tuesday morning, saying the company “grew too quickly” as crypto products became popular.
“It is now clear to me that we over-hired,” he wrote. A Coinbase spokesman declined to comment.
“It had been growth at all costs over the last several years,” said Ryan Coyne, who covers crypto companies and financial technology at the Mizuho Group. “It’s now turned to profitable Gemini, the crypto exchange led by the billionaires Tyler and Cameron Winklevoss, also announced this month that it was laying off 10 percent of its work force. In a memo to staff, the Winklevoss twins said the industry had entered a “crypto winter.”
But they also expressed optimism about the future of the industry. “The crypto revolution is well underway and its impact will continue to be profound,” they wrote in a memo. “But its trajectory has been anything but gradual or predictable.”
Last year, the Singapore-based exchange Crypto.com aired a now-notorious TV commercial starring the actor Matt Damon, who declared that “fortune favors the brave” as he encouraged investors to put their money in the crypto market. Last week, Crypto.com’s chief executive announced that he was laying off 5 percent of the staff, or 260 people. On Monday, BlockFi, a crypto lending operation, said it was reducing its staff by roughly 20 percent.
Gemini and BlockFi declined to comment. A Crypto.com spokesman said the company remains focused on “investing resources into product and engineering capabilities to develop world-class products.”
Cryptocurrencies have long been volatile and prone to boom-and-bust cycles. In 2013, a Chinese ban on Bitcoin sent its price tumbling. In 2017, a proliferation of companies creating and selling their own tokens led to a run-up in crypto prices, which crashed after regulators cracked down on so-called initial coin offerings.
These bubbles are built into the ecosystem, crypto enthusiasts said. They attract talented people to the industry, who go on to build valuable projects. Many of the most vocal cheerleaders encourage investors to “buy the dip,” or invest more when prices are low.
“We have been in these downward spirals before and recovered,” Mr. Jones, the Science Inc. investor, said. “We all believe in the fundamentals.”
Some of the companies have also remained defiant. During Game 5 of the N.B.A. finals on Monday night, Coinbase aired a commercial that alluded to past boom-and-bust cycles.
With the price of Bitcoin tumbling, Celsius announced on Sunday that it was freezing withdrawals “due to extreme market conditions.” The company did not respond to a request for comment.
The market instability has also triggered a crisis at Coinbase, the largest U.S. crypto exchange. Between the end of 2021 and late March, Coinbase lost 2.2 million active customers, or 19 percent of its total, as crypto prices dropped. The company’s net revenue in the first three months of the year shrank 27 percent from a year earlier, to $1.2 billion. Its stock price has plunged 84 percent since it went public last year.
This month, Coinbase said it would rescind job offers and extend a hiring freeze to battle the economic downturn. On Tuesday, it said it would cut about 1,100 workers.
Brian Armstrong, Coinbase’s chief executive, informed employees of the layoffs in a note on Tuesday morning, saying the company “grew too quickly” as crypto products became popular.
“It is now clear to me that we over-hired,” he wrote. A Coinbase spokesman declined to comment.
“It had been growth at all costs over the last several years,” said Ryan Coyne, who covers crypto companies and financial technology at the Mizuho Group. “It’s now turned to profitable Gemini, the crypto exchange led by the billionaires Tyler and Cameron Winklevoss, also announced this month that it was laying off 10 percent of its work force. In a memo to staff, the Winklevoss twins said the industry had entered a “crypto winter.”
But they also expressed optimism about the future of the industry. “The crypto revolution is well underway and its impact will continue to be profound,” they wrote in a memo. “But its trajectory has been anything but gradual or predictable.”
Last year, the Singapore-based exchange Crypto.com aired a now-notorious TV commercial starring the actor Matt Damon, who declared that “fortune favors the brave” as he encouraged investors to put their money in the crypto market. Last week, Crypto.com’s chief executive announced that he was laying off 5 percent of the staff, or 260 people. On Monday, BlockFi, a crypto lending operation, said it was reducing its staff by roughly 20 percent.
Gemini and BlockFi declined to comment. A Crypto.com spokesman said the company remains focused on “investing resources into product and engineering capabilities to develop world-class products.”
Cryptocurrencies have long been volatile and prone to boom-and-bust cycles. In 2013, a Chinese ban on Bitcoin sent its price tumbling. In 2017, a proliferation of companies creating and selling their own tokens led to a run-up in crypto prices, which crashed after regulators cracked down on so-called initial coin offerings.
These bubbles are built into the ecosystem, crypto enthusiasts said. They attract talented people to the industry, who go on to build valuable projects. Many of the most vocal cheerleaders encourage investors to “buy the dip,” or invest more when prices are low.
“We have been in these downward spirals before and recovered,” Mr. Jones, the Science Inc. investor, said. “We all believe in the fundamentals.”
Some of the companies have also remained defiant. During Game 5 of the N.B.A. finals on Monday night, Coinbase aired a commercial that alluded to past boom-and-bust cycles.
I also posted this across the street. 99% of the current cryptos will disappear. Those that survive are the future. BTC is a store of value. dApps built on Ethereum work without human intervention. Decentralized finance saves time, money, paperwork and curbs corruption since transactions are visible and immutable. Tokens have utility in metaverses. Digital collectibles on a blockchain ensure authenticity. We are just getting started.
Bitcoin will follow the same 4 year cycle. It's very tough to predict a bottom but in 2 years bitcoin will definitely be over $100k. Normally bitcoin will go on a run that will be followed by alt season. During the bitcoin bull run there are always small cap coins that go up 100x, even 1000x, some a lot more.
If Bitcoin will be over 100k in 2 years, what will eth be?
Such a matter of fact statement is what you expect from people that haven’t seen a bear market. Just 5xing in 2 years is no joke.
But regardless of that, I think eth at 1100 is a good spec buy to DCA into. It will rip on the next bull run, if btc doubles, it should 3-4x at this depressed price. Market cap is 1/3rd btc.
Such a matter of fact statement is what you expect from people that haven’t seen a bear market. Just 5xing in 2 years is no joke.
But regardless of that, I think eth at 1100 is a good spec buy to DCA into. It will rip on the next bull run, if btc doubles, it should 3-4x at this depressed price. Market cap is 1/3rd btc.
