General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStock market bad? Look at crypto right now.
Stocks were down about 1.8%. Yeah, bad.
But crypto?
It's having a genuine mini-crash right now.
BTC -- down $5700 (4.7%)
ETH -- down $460 (10.5%)
Stock market is closed till Tuesday, but crypto markets never stop.
And over there, the downswing has kept going.
MDN

Lovie777
(20,654 posts)bucolic_frolic
(52,739 posts)Mike Niendorff
(3,631 posts)Obviously I'm not a trader.
But I have dabbled in crypto before, and what's going on there right now is substantial.
MDN
Fiendish Thingy
(20,967 posts)How soon we forget the dive of last spring, which has since recovered and went to gain more.
I think Im still up around 13-15% for the YTD
Market volatility is a fact of life during the Trump era.
Happy Hoosier
(9,131 posts)Ooof. Itll recover, but thats never fun.
The Madcap
(1,515 posts)Likely due to Orange Maniac's 100% ADDITIONAL TARIFF on China announced today.
Well, that's going to raise prices on most things Americans buy...bigly.
I hope the market reacts to a buying opportunity on Monday.
D_Master81
(2,235 posts)As someone who has money in crypto people here always post when it drops big but never mention that it will probably recover in a week. A lot of leveraged trading happens there so when drops happen you get people getting liquidated. People who just ride it out like me are up big over the long term
Grown2Hate
(2,193 posts)because it seemed fun (back when it was like $.04 per coin) and then purchased some Bitcoin and mined some ETH. I don't blink at these falls anymore because I've just held long term and overall I'm up 325%. Hard to beat that. It's HARD ups and HARD downs, but the overall trend is WAY up. And if it all disappears tomorrow? It was money I could afford to lose. I'll enjoy it while it's here and probably cash out when I go to retire if it's still there.
Side note (anecdote): I was talking to the CFO of our company about how I was mining some crypto (years ago) and she said her son does the same. She added, "It's a fun hobby, but that crypto stuff is going to crash HARD". She was right in the short term; I saw it go from about $45000 per coin all the way down to $17000 a coin at that time. Today it's $115000 a coin and that's after a SHARP drop from the all-time high of $125000 per coin just this week!
So, yes, VOLATILE is certainly the right word, but a fun ride if you have a few bucks in it. Just my opinion.
RandiFan1290
(6,625 posts)