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Bitcoin’s plunge intensifies, tanks to a low $30,000

Bitcoin’s plunge intensifies, tanks to a low $30,000

Bitcoin plunged Wednesday to near $30,000, continuing a major sell-off that began a week ago. The overall crypto market has been extremely volatile in the wake of Tesla CEO Elon Musk’s recent tweets. Besides, the People’s Bank of China on Tuesday reiterated that digital tokens can’t be used as a form of payment. The overall crypto market cap has seen nearly $500B wiped out in 24 hours.

Chris
Chris
Rocky
Rocky 0 months

Buy the dip! This is the big opportunity. Stay away from Bitcoin, but many other cryptos will be at insanely low prices. Same for the stocks. Beat these liars at their own game. When they sell off we buy low. When prices reach new highs we sell off and reap the profits.👍🏽

Alex
Alex 0 months

Cryptos would be a lot less of a joke to stock investors if the investors of cryptos weren't so reactionary. Every single time some tiny event happens, sometimes even seemingly unrelated to cryptos, investors lose their minds and we see price fluctuations of 20% to 40% in a single day. It proves that cryptos are backed by nothing, and the investors don't actually value them at anything. It'a all artificial and fake.

Björn Westman
Björn Westman 0 months

Well... Since China said that it was a bad thing to have alternative currencies to the new digital yuan, then I’m sure nothing sinister could possibly come out of this situation.....

Sigfried
Sigfried 0 months

Elon got the price to drop? *inner hedge funder squeals* IT'S BUY TIME!

JakeN
JakeN 0 months

Bitcoin will never replace money, its going to replace gold instead. Bitcoin costs too much to mine/create and has limited supply, which goes counter to how money works today.

Kent Brockman
Kent Brockman 0 months

Bitcoin is a hedge. Just remind yourself of how much gov and corp debt there is and money printing... if we weren't I this pandemic economy Id be against bitcoin

Central Scrutinizer
Central Scrutinizer 0 months

Standards in currency are shop much more important than anyone can realize. No standards can be a nightmare. Example: the frumpet is now my expected means is payment. You can only get frumpet from me. I can totally regulate the value of a frumpet, and you must remit according to my mood or how I perceive your image. Sounds scary? Of course it does.

Chris
Chris 0 months

A welcome correction to shake out the idiotic animal coins and other sh1tcoins. Also, China only reiterated the ban on their financial institutions operating in crypto, other than their own.

david dindu
david dindu 0 months

Doge memes are now bitcoin memes: " just bought the dip.... but it keeps on dipping. Lol"

Nickel
Nickel 0 months

Bitcoin runs in four years Cycles it still has another year or two to go up 30000 is still 10,000 above the last all time high bye bye bye going up to over one to two hundred thousand maybe three hundred thousand

Neil
Neil 0 months

Oh no 500 billion in imaginary money is gone! The world is going to collapse! Crypto is the biggest failure of an attempt to "revolutionize currency" since the flemish tried replacing coins with mummified goat weiners (no that's not a real thing. I'm making fun of dumb people)

Leonard
Leonard 0 months

Stupid stupid people investing in absolutely nothing but the emotions of others. Gold is the option. Physical gold.

Raymond M Hein Jr
Raymond M Hein Jr 0 months

Bitcoin will be up again soon

Andrew Montague
Andrew Montague 0 months

Another reminder that Bitcoin, while certainly a stock, is not money. Anything that wants to be taken seriously as a currency cannot fluctuate like this.

Phoenix
Phoenix 0 months

I bought the dip.

Nosotros La Gente
Nosotros La Gente 0 months

The final value of fiat is always 0. Always. Bitcoin's value, just like the dollar, is only the value placed upon it in our minds. The difference is, the dollar can be printed indefinitely, while Bitcoin has a finite supply, like gold. Gold's value is also basically made up. Gold and Bitcoin are bet on finite supply retaining value better than infinite supply and printing of paper and digital numbers by the Fed. Bitcoin and gold each have advantages over each other. Gold doesbt rely on electricity. You can hold gold. Gold is easy to confiscate. Gold is rather easy to steal. Gold is very hard to transport (imagine moving to another country and trying to transport a bunch of gold). Bitcoin is easy to transport. The fed prints money out of nowhere, diluting the value of any dollars you have sitting around. The rich get and stay rich by keeping real assets, like real estate, stocks, Bitcoin, art, etc, and avoiding keeping their money sitting in fiat. Bitcoin is a hedge against the dollar. There are many promising blockchain projects that are far more impressive than Bitcoin, though, and some offer some very promising disruptive potential in multiple sectors of the economy. Anyway, do what you think is best with your own "money".

Nickel
Nickel 0 months

30000 is still 10,000 above the last all time high

GB Oz
GB Oz 0 months

Ha. Didn’t Musk confirm days ago, that Tesla still had their holdings. This, Tesla has lost a ton of money on this deceptive adventure of Musks.

Indo
Indo 0 months

The fear and loathing of those tolling bells. Don't it just crawled up your sleeve !?

GB Oz
GB Oz 0 months

This means Tesla has lost money on bitcoin, since Musk confirmed they still held their holdings. Ha!

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