There was a co-ordinated attack on Luna from multiple fronts this weekend which caused the de-pegging. Looks like they picked the perfect timing for this. More details keep coming out...
A nice fairy tale, but none of us is ever going to get that lucky... particularly since the big Wall Street funds out there have finally caught up and isn't sleeping anymore regarding ETH.
I cannot rule anything out in a bear market where the liquidity is being drained by the Fed and cost to borrow capital is going up Just be ready for anything. Be defensive. There's a time to be on the offense and a time for... NFA
True. May get a spectacular capitulation when all is said and done, where prices will go way lower than anyone expects.
I think lots of people are waiting to load up on a crash. So the question is how low does it have to go. Lots of people here in the forums lately think that Bitcoin is worth zero and will never buy, but I happen to think that when the Price is Right there will be a huge amount of demand. I just have no idea if that is 20k, 10k, or 5k. And I also doubt it will ever go that low. I think the general feeling is that nobody wants to miss the next bull run.
Even if Satoshi were to come back from the grave, and immediately dump all his BTC on the market and cause some sort of flash-crash. That isn't going to change much with ETH, aside from causing a dip. The merge will still go through, DeFi sin't going to stop. More companies are building into it by the minute. Sharding upgrades will still continue. Over 90% of game-development companies currently are planning to add crypto support for NFT, purchases, etc. That said, with the crashing equities this quarter, war in europe, removal of the fed PUT, we still have great shots for even more discounts on ETH (grin). 2200 ETH was the lowest we have seen ETH this year. Oddly enough, it didn't even reach that today (yet). But... I'm holding off on some of my rolling at the moment as very good chance we can hit below that very soon. For now, I've closed my front-month short-puts and am waiting...
I agree with John we have no idea how low it can go. If perfect storm happens and let’s say Tether fraud is exposed at the worst moment, the whole thing can blow up.
Blow up how? I bet there is so much interest at 20k, the previous major top, that it might not even reach it. If it went all the way down to 5k, I would buy a whole coin. Now imagine how many other people feel the same way? We have all now seen what crypto can do, and many wish they bought the COVID lows. Getting in under 10k would be a dream. If tether blows up, it doesn't matter. There are no sidechains, nothing to hack or exploit. Bitcoin will just reach a point where buyers rush in and overwhelm any selling. My only regret is not leaving more cash to buy at these lows when I of course figured a test down to 29k or 20k is what the chart shows as a possibility. The hashrate is forever growing, and the need for wealth outside of the system is ever present. The fundamentals are solid if you ask me. If whales are selling, if Saylor has to sell, if Tesla sells, all the better to distribute it more amongst the world citizens.
USDT blow up will matter a lot. The current price is not real. We have no idea what BTC real price is. May be it is 1K and without fake money madness we have seen would have never happened. We shall see how things will play out. my plan is to accumulate ether. What about you ?