How does this crazy price action really work?

bartosimpsonio

bartosimpsonio

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How can a crypto worth $200 suddenly go to $85 like Solana did?

Are these crypto price actions real? Doesn't seem so. How does so much value get dumped so easily?

Seems like there's something wrong here? Price fluctuations are OK but this shit's crazy TBH. Where is all this money going? Is it even real money?
 
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bartosimpsonio said:
How can a crypto worth $200 suddenly go to $85 like Solana did?

Are these crypto price actions real? Doesn't seem so. How does so much value get dumped so easily?

Seems like there's something wrong here? Price fluctuations are OK but this shit's crazy TBH. Where is all this money going? Is it even real money?
Click to expand...
Just a normal market crash in crypto nothing new :p

Solana went from like 2$ to 230$ in this market cycle in 1-2 years, so did a lot of other coins. If I'm not wrong ADA was 0.03$ 2 years ago and peaked at almost 3$. It's just the cycle repeating, it'll die now, likely BTC will hit 15-20k then the new bull market begins again to 75k-100k likely either in end of 2023 or 2024
 
spectrejoe said:
Just a normal market crash in crypto nothing new :p

Solana went from like 2$ to 230$ in this market cycle in 1-2 years, so did a lot of other coins. If I'm not wrong ADA was 0.03$ 2 years ago and peaked at almost 3$. It's just the cycle repeating, it'll die now, likely BTC will hit 15-20k then the new bull market begins again to 75k-100k likely either in end of 2023 or 2024
Click to expand...

I guess what I'm wondering about is "speed of money" or something like that.

How can 1 trillion $ disappear like that. Is that amount of money even moved? I don't think so.
 
bartosimpsonio said:
How can a crypto worth $200 suddenly go to $85 like Solana did?

Are these crypto price actions real? Doesn't seem so. How does so much value get dumped so easily?

Seems like there's something wrong here? Price fluctuations are OK but this shit's crazy TBH. Where is all this money going? Is it even real money?
Click to expand...


You should ask the 1) Solana developers 2) Early investors.
You should always expect that early investors who bought the funny Solana at 0.50$ (before some months) will dump at any time (known as whales).

BTW I'm happy to see non-conspiracist to be part of the biggest anti-fiat-"conspiracy"


https://cointokia.com/news/solana-sol-endless-problems
As a rule of thumb.. altcoins depend on BTC and this wont change in the near future (another 10 years.. give or take).
 
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The price is what other people are willing to let the currency go for. If someone bought Solana at $20, it makes all the sense for him/her to dump when the price is $150. This risk will always be there. This is why you should not invest into tokens/coins with unlocked whale wallets for example. This is why the projects want you to keep your assets staked, as well.
 
bartosimpsonio said:
I guess what I'm wondering about is "speed of money" or something like that.

How can 1 trillion $ disappear like that. Is that amount of money even moved? I don't think so.
Click to expand...
Well the thing is that crypto is fundamentally different from stocks in the sense that its price is determined by supply and demand in the exchanges. Exchanges are open 24/7 unlike the stock market.

This means that swings be it up or down are a lot more violent than in stocks first due to the money involved still being less than stocks (generally higher market cap = less volatile in theory at least), second because there people watching these prices 24/7 since the 'market is always live', this also leads to a lot more emotional decisions while for stock markets people have the night / weekend to reflect over their decision to sell/buy and third, since market is always live the amount of bots is insane and so is the amount of money moved between the bots.

Plus a lot of the REALLY big whales are millionaires due to joining crypto early and so a lot of them are surely manipulating the market which is a lot easier than doing so in stocks due to lack of regulation and lower marketcap in general
 
Altcoins bleed along with BTC
Massive liquidation in past few days

ADA and XRP is at their major support
Great opportunity to dive in
 
Go to USDT or other stable coins
No, it's not real money it's crypto
It's peace of code
 
dont buy coin at the top.
buy micro caps. but if youre a dumbass then dont buy anything.
 
HustleTong said:
Altcoins bleed along with BTC
Massive liquidation in past few days

ADA and XRP is at their major support
Great opportunity to dive in
Click to expand...

"Buy when there's blood on the streets"
- Said some rich guy
 
moonshine7000 said:
So why tether is under investigation about their business model ?
Click to expand...
That Coffeezilla episode on Tether really opened my eyes to this.
I think that something is going to pop-off in the crypto industry either in a good way or bad way, or atleast good for some and bad for others.
 
loukeyzee said:
That Coffeezilla episode on Tether really opened my eyes to this.
I think that something is going to pop-off in the crypto industry either in a good way or bad way, or atleast good for some and bad for others.
Click to expand...
If the US Government go after tether that will destroy the market but time will tell.
 
Brother still these are all leaks , nothing gonna crash , it happens every time the cycle repeat
 
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