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Crypto investors' hot streak ends as harsh 'winter' descends

10 Comments
By KEN SWEET and FATIMA HUSSEIN

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10 Comments
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It will cool down until the next generation of "greater fools" buy in.

4 ( +5 / -1 )

Made a profit on the sudden rise but watched momentum fade and got out.

0 ( +0 / -0 )

Good - has a massive carbon footprint, and for what purpose? To make (and loose) money!

1 ( +1 / -0 )

All crypto currencies will eventually collapse giving way for the global digital currency, likely the US dollar, that is backed by the US Federal Reserve. This digital currency will be programmable allowing the regulators (elite globalists) to control the buying and selling. If they think you are buying too much car gas, they can shut you down by citing that you are traveling too much producing too much carbon. That is how things will go moving forward. The foundation for the establishment of the one world govt as prophesied in Revelation 13 is now being laid.

0 ( +0 / -0 )

^The Ponzi finally unravelling. Good for those who made money on the way up, but shame for those who bought in at 60k thinking it was gooin to 100 or 1000000

0 ( +0 / -0 )

Investments go up and down. It's what they do.

Wise people got rich on crypto, and when it was high, shorted it, like Soros did with Sterling. They are now even richer. When it hits bottom, they will probably buy it again.

If you ran a crypto trading exchange, where people could buy and sell safely using your Escrow facility, taking a margin on each transaction, you would make money whether it went up or down.

Crypto is not a digital currency, but a digital asset. Digital currencies, typically pegged to a major currency, will be unaffected by all this. Digital currencies based around distributed wallets and pegged to a reliable currency are likely to be the next big fintech product.

0 ( +0 / -0 )

Crypto is not a digital currency, but a digital asset.

No, it's a digital currency.

Digital currencies, typically pegged to a major currency, will be unaffected by all this

That's incorrect as proven by Bitcoin being a digital currency, not pegged to a FIAT currency. Where is any other currency defined by its being pegged to another?

Digital currencies based around distributed wallets and pegged to a reliable currency are likely to be the next big fintech product.

Maybe. But cryptocurrencies are going nowhere.

0 ( +0 / -0 )

Good thing I bought Bitcoin (and Tesla) when certain user names were mocking it. appreciate that, easy money.

-2 ( +0 / -2 )

no- certain posters specifically said crypto and Tesla STOCK would go down. Neither has since the mockery of Tesla stock and crypto.

wo I bought some to prove them wrong. Been quite profitable and enjoyable.

Maybe. But cryptocurrencies are going nowhere.

up 5%+ today. That’s called going UP.

-2 ( +0 / -2 )

The market is shut to a degree the place a few of the actual extra leverage has exited the system and a backside can now begin forming.

https://cryptospacey.com/bitcoin-suisse-director-says-crypto-market-is-forming-a-bottom/

0 ( +0 / -0 )

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