1. #2626
    ace7550
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    Quote Originally Posted by pablo222 View Post
    This theory from a crypto forum

    Degenerates on Binance with up to 150x leverage (borrowing Tethers to buy crypto) have been building up their margin account balances to big numbers, and when they make money, they double down, and build even bigger positions. Because they're degenerates.
    But when the price dips below a certain point, some degenerates who have these margin accounts are suddenly below their maintenance limits, and they get liquidated. When they get liquidated, Binance will sell your crypto for Tether, and you are left with little to nothing.
    So what happened? Crypto got sold, and Tether got bought. Because Crypto got sold, the price drops, which triggers more accounts, who thought they were safe, to dip below their margin maintenance requirements.
    This creates a feedback cycle which basically ends in the liquidation of all the margin accounts. It all ends in a very fast, cascading crash like we just saw.
    When it crashed last night I saw that tether was valued at $1.02, instead of the usual $1.00 or 0.999. This doesn't seem that significant but tether is supposed to be tied to the dollar and it has a 48 billion dollar market cap. So a 2 cent move is actually pretty big. It means a lot of tether was being purchased in a short period of time.
    This also validates the theory Pablo posted above.
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  2. #2627
    louisvillekid
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    So how long till back into low 60s? A week? A few days? Today?

  3. #2628
    Arky
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    Quote Originally Posted by louisvillekid View Post
    So how long till back into low 60s? A week? A few days? Today?
    Dips on the weekend are not uncommon. Sometimes a good Monday and Tuesday will put things back together. If that doesn't happen, it obviously may be a slow recovery...
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  4. #2629
    asiagambler
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    What a scam !

  5. #2630
    biggie12
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    Quote Originally Posted by Ghenghis Kahn View Post
    Did you read SafeMoon's white paper? Looks like some high school kid wrote it.
    Kahn im up $237 Thousand! I guess we only needed 3 weeks not months sorry
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  6. #2631
    biggie12
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    If you guys aren't on BNB get in price will be over $1000 soon.

  7. #2632
    DiggityDaggityDo
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    Love when bitcoin is on sale
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  8. #2633
    BeatTheJerk
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    ...
    Last edited by BeatTheJerk; 04-19-21 at 01:58 PM. Reason: WTF is wrong with me ...

  9. #2634
    Arky
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    Crypto Compare newletter says this about the "big dip":

    Bitcoin Price Crashes to 3-week Low Triggering Record Liquidations

    Bitcoin crashed from almost $59,000 to $52,000 in one hour on Sunday, triggering record numbers of liquidations worth almost $10 billion. Analysts suspect a hash rate crash triggered to the bitcoin price crash.

    According to some data providers bitcoin hash rate almost halved due to a mass power outage in China’s Xinjiang province. Analysts such as Willy Woo argue that “price follows hash rate” and this is what led to the drop in bitcoin price. He went on to say that the impact would be temporary and that hash rate “almost fully recovered.”

    Data from Bybt shows that $8.64 billion in long liquidations occurred on April 17 with about 70% of that occurring on Binance. $4.6 billion of the liquidations were from bitcoin futures. Bitcoin’s price crash has caused a market wide sell-off with the majority of altcoins posting negative 24-hour price changes on Sunday.
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  10. #2635
    raiders72001
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    Quote Originally Posted by biggie12 View Post
    Kahn im up $237 Thousand! I guess we only needed 3 weeks not months sorry
    These guys move quicker than any coin I've ever seen. From listening to their last AMA, I'm sure that the exchange, NFT's and games will be up soon. There's some news coming out Wednesday. Part of it should be announcing new exchanges. I know you're aware of all of this since you were the first to point out SAFEMOON.
    Last edited by raiders72001; 04-19-21 at 05:37 AM.

  11. #2636
    raiders72001
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    Quote Originally Posted by pablo222 View Post
    This theory from a crypto forum

    Degenerates on Binance with up to 150x leverage (borrowing Tethers to buy crypto) have been building up their margin account balances to big numbers, and when they make money, they double down, and build even bigger positions. Because they're degenerates.
    But when the price dips below a certain point, some degenerates who have these margin accounts are suddenly below their maintenance limits, and they get liquidated. When they get liquidated, Binance will sell your crypto for Tether, and you are left with little to nothing.
    So what happened? Crypto got sold, and Tether got bought. Because Crypto got sold, the price drops, which triggers more accounts, who thought they were safe, to dip below their margin maintenance requirements.
    This creates a feedback cycle which basically ends in the liquidation of all the margin accounts. It all ends in a very fast, cascading crash like we just saw.
    Margin trading cryptos is insane especially if you're new.

  12. #2637
    ChuckyTheGoat
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    Quote Originally Posted by pablo222 View Post
    This theory from a crypto forum

    Degenerates on Binance with up to 150x leverage (borrowing Tethers to buy crypto) have been building up their margin account balances to big numbers, and when they make money, they double down, and build even bigger positions. Because they're degenerates.
    But when the price dips below a certain point, some degenerates who have these margin accounts are suddenly below their maintenance limits, and they get liquidated. When they get liquidated, Binance will sell your crypto for Tether, and you are left with little to nothing.
    So what happened? Crypto got sold, and Tether got bought. Because Crypto got sold, the price drops, which triggers more accounts, who thought they were safe, to dip below their margin maintenance requirements.
    This creates a feedback cycle which basically ends in the liquidation of all the margin accounts. It all ends in a very fast, cascading crash like we just saw.
    Good info, Pab. This is the theory on what triggered the stock market Blue Monday crash (-22%) years ago. Some big accts held portfolio insurance. So, when the market randomly dips, some accts auto-sell to save most of the principal. Feedback loop, like u say, triggers more sell-offs.

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  13. #2638
    ARCHIVADO98
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    Lets go crash!
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  14. #2639
    JoeCool20
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    Quote Originally Posted by DiggityDaggityDo View Post
    Love when bitcoin is on sale
    Right. Gotta hope people keep "buying the dips"! Which they have every other time it has dropped.

    If it ever stops getting support after drops, then all the little newly made "hundred thousand -aires"

    will start fleeing for the exits and taking their huge profits, and start a huge price crash.

  15. #2640
    biggie12
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    Quote Originally Posted by raiders72001 View Post
    These guys move quicker than any coin I've ever seen. From listening to their last AMA, I'm sure that the exchange, NFT's and games will be up soon. There's some news coming out Wednesday. Part of it should be announcing new exchanges. I know you're aware of all of this since you were the first to point out SAFEMOON.

    It is officially Defi season. Look at the charts for these coins Raiders I got in all of them within 24 hours of launch. poocoin.com



    Moonpirate
    saveplanetearth
    creampye ( the name sells itself lol)

    Here is a brand new one 12 hours old FULL SEND CRYPTO. there was a presale so all the presale buyers are selling off after 3x there is a discount right now They are not affiliated to the Nelk Boys ( A Canadian youtube gem, check them on YouTube millions of followers If they do collaborate this coin will shoot up over 10x overnight. DYOR. I am not a financial advisor
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  16. #2641
    MickeyMan
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    Quote Originally Posted by biggie12 View Post
    It is officially Defi season. Look at the charts for these coins Raiders I got in all of them within 24 hours of launch. poocoin.com



    Moonpirate
    saveplanetearth
    creampye ( the name sells itself lol)

    Here is a brand new one 12 hours old FULL SEND CRYPTO. there was a presale so all the presale buyers are selling off after 3x there is a discount right now They are not affiliated to the Nelk Boys ( A Canadian youtube gem, check them on YouTube millions of followers If they do collaborate this coin will shoot up over 10x overnight. DYOR. I am not a financial advisor
    Biggie all these moon names I can’t keep track of which ones I have and which I don’t


  17. #2642
    BeatTheJerk
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    Quote Originally Posted by biggie12 View Post
    It is officially Defi season. Look at the charts for these coins Raiders I got in all of them within 24 hours of launch. poocoin.com



    Moonpirate
    saveplanetearth
    creampye ( the name sells itself lol)

    Here is a brand new one 12 hours old FULL SEND CRYPTO. there was a presale so all the presale buyers are selling off after 3x there is a discount right now They are not affiliated to the Nelk Boys ( A Canadian youtube gem, check them on YouTube millions of followers If they do collaborate this coin will shoot up over 10x overnight. DYOR. I am not a financial advisor
    This guy is starting to become the Crypto Guru of the bunch, Biggie is putting in work with research & making a pretty penny as we speak. I applaud him greatly (much respect)

  18. #2643
    kostasblues
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    Quote Originally Posted by JoeCool20 View Post
    Right. Gotta hope people keep "buying the dips"! Which they have every other time it has dropped.

    If it ever stops getting support after drops, then all the little newly made "hundred thousand -aires"

    will start fleeing for the exits and taking their huge profits, and start a huge price crash.
    Noone is running anywhere. This isn't ETH, it's hard / expensive to sell. The masses know better now.
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  19. #2644
    raiders72001
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    Quote Originally Posted by biggie12 View Post
    It is officially Defi season. Look at the charts for these coins Raiders I got in all of them within 24 hours of launch. poocoin.com



    Moonpirate
    saveplanetearth
    creampye ( the name sells itself lol)

    Here is a brand new one 12 hours old FULL SEND CRYPTO. there was a presale so all the presale buyers are selling off after 3x there is a discount right now They are not affiliated to the Nelk Boys ( A Canadian youtube gem, check them on YouTube millions of followers If they do collaborate this coin will shoot up over 10x overnight. DYOR. I am not a financial advisor
    I sent you that thank you PM two weeks back on SAFEMOON. That was a good call but I'm passing on the others.
    Last edited by raiders72001; 04-19-21 at 10:53 PM.

  20. #2645
    biggie12
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    Quote Originally Posted by BeatTheJerk View Post
    This guy is starting to become the Crypto Guru of the bunch, Biggie is putting in work with research & making a pretty penny as we speak. I applaud him greatly (much respect)
    I know nothing. Doge and Fomo is what is doing everything. BTJ I havent don't much research into this at all. Look at all stable coins today in red. Look at defi everything up. Look at huge whale wallets I'm talking 500 million + they are moving money from btc and spreading it around defi... it has to be a signal

  21. #2646
    ChuckyTheGoat
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    Have to be honest. Thought Giustra did very well in the debate.

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  22. #2647
    ChuckyTheGoat
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    Congrats to ETH holders. 2600, ATH.
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  23. #2648
    Legions36
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    Quote Originally Posted by ChuckyTheGoat View Post
    Congrats to ETH holders. 2600, ATH.
    Ya. Im so tempted to switch all my eth for btc at these levels. Am i stupid? or does it have more room to go? the ratio was .030 a few weeks ago and this seems like free extra btc.

  24. #2649
    bigtymer56
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    Quote Originally Posted by Legions36 View Post
    Ya. Im so tempted to switch all my eth for btc at these levels. Am i stupid? or does it have more room to go? the ratio was .030 a few weeks ago and this seems like free extra btc.
    Wondering the same thing. Probably just going to switch my weekly buys back to BTC from ETH instead of selling.

    PS. Dont take any advice from me. This is all based on gut feelings.

  25. #2650
    Legions36
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    Quote Originally Posted by bigtymer56 View Post
    Wondering the same thing. Probably just going to switch my weekly buys back to BTC from ETH instead of selling.

    PS. Dont take any advice from me. This is all based on gut feelings.
    Its like Im happy with either or but the Eth runup so far was so fast against the btc ratio has me so confused. Then the news coming up for btc in the next month wants me mostly into it over alts.

  26. #2651
    pablo222
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    I don't think ETH is done running.
    I will hold tight on both.
    But I did load a little bit of ETH on Bitpay card today to order a mountain bike.
    I hadn't grabbed profits of any crypto since Dec.
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  27. #2652
    ouzoun
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    Dont worry guys. These are ups and downs. This is not the end of the Bull Market Cycle. It needs some more time for this.
    Be carefully with buy the deeps.

  28. #2653
    Sawyer
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    Love these dips. That's what I call VALUE INVESTING!

  29. #2654
    JoeCool20
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    Quote Originally Posted by kostasblues View Post
    Noone is running anywhere. This isn't ETH, it's hard / expensive to sell. The masses know better now.
    Yes just like I said, people HAVE bought the dips EVERY OTHER TIME the BT-C price took a breather.

    Still waiting on the sell off to stop this time. It is like a set of falling dominos this time.

    Very hard to time a "dip buy" right now! It is like trying to catch the proverbial falling knife right now.

  30. #2655
    JoeCool20
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    Quote Originally Posted by ouzoun View Post
    Dont worry guys. These are ups and downs. This is not the end of the Bull Market Cycle. It needs some more time for this.
    Be carefully with buy the deeps.

    Yes this!! ^^^^^^ Great comment. It was a helluva run for BT-C! Buying and holding BT-C as an investment vehicle is no different than buying and holding stocks for investments. Nothing goes straight up every day! Hell, sometimes like a big down day today in the stock market, I lose $10 grand in one day. And sometimes I MAKE $10 grand on a big up day, but if I'm not planning on selling, then who even cares? I like it better when I don't even watch the prices of my portfolio unless I'm planning to sell something.

  31. #2656
    Sawyer
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    They will shake off Paper hands. HODL STRONG guys!

    Got Theta, Cake, Digibyte, Bitcoin Cash and LINK. Theta to 100$, Digibyte to 1$, Bitcoin Cash to 5000$, Link to 100$! Let's GET IT!
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  32. #2657
    Roscoe_Word
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    I hope optimism prevails.

    I picked a fine day to stop doin methamphetamines.

  33. #2658
    Arky
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    Sea of red. Pull up your 1-day chart for BTC and this looks just like what happened on Feb 20-27.

    I'm going to try to find something productive to do with my time and wait it out.....
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  34. #2659
    MrSink
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    Quote Originally Posted by Sawyer View Post
    They will shake off Paper hands. HODL STRONG guys!

    Got Theta, Cake, Digibyte, Bitcoin Cash and LINK. Theta to 100$, Digibyte to 1$, Bitcoin Cash to 5000$, Link to 100$! Let's GET IT!
    Cake team

  35. #2660
    pablo222
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    Quote Originally Posted by Arky View Post
    Sea of red. Pull up your 1-day chart for BTC and this looks just like what happened on Feb 20-27.

    I'm going to try to find something productive to do with my time and wait it out.....
    I was just thinking about that day. I packed the shanty and tip ups and went ice fishing. Was a beautiful day on the lake
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