BTC down 10% just now - Why?

Overnight said:
I miss people who think I post information (or feedback, or humor) that makes them go "Hmmm". I like to get people's brains fizzing. Like that fizzy feeling they might get when driving an exotic hypercar or something.

I vaguely recall your posts in the past, and have not seen them for quite a while.

I DO miss people who can argue on the level of cyborg, with no emotion. I am still capable of that level of stoic and aloof discussion. There are very few people left here who still have that level of emotional detachment to certain emotionally-charged issues.

I'm guilty as sin of going off the rail at times. But hey, returning old blood is good. Adds more salt to the diet. :)
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Few people can argue using just YouTube videos. It's one of the reasons I like you so much.
 
krugman25 said:
Few people can argue using just YouTube videos. It's one of the reasons I like you so much.
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I do what I can with what I have.

Regarding the crypto space, I was recently schooled on how these crypto exchanges have their OWN futures (derivatives), as opposed to the regulated exchange futures products like CME.

But cryptos themselves...What are they derivatives of? Aren't they their own animal? A BTC is a BTC. That's it. It is not a derivative of anything.
 
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10% drop means it has pierced the rising trendline.

how is the volume?
is the volume significant?
if the volume is significant, it might mean this is Tulip Mania., the beginning of the end.
 
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Overnight said:
I do what I can with what I have.

Regarding the crypto space, I was recently schooled on how these crypto exchanges have their OWN futures (derivatives), as opposed to the regulated exchange futures products like CME.

But cryptos themselves...What are they derivatives of? Aren't they their own animal? A BTC is a BTC. That's it. It is not a derivative of anything.
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Sure, I mean you can have a derivative of just about anything, right? Options and perpetuals are trivial markets to get stood up. Crypto is plenty liquid to do it. There's always people willing to write options and people willing to buy them. There's always people willing to lend their crypto so others can borrow it for leverage. And so on.

They are not US regulated but they also aren't HQ'ed in the US so I wouldn't expect them to be.
 
The Turkish central bank also banned crypto on Friday.

But does anyone really care about Turkey?

The Central Bank of the Republic of Turkey (CBRT) said the use of cryptocurrencies and other crypto assets based on distributed ledger technology would be prohibited as a payment, whether directly or indirectly.

The ban will come into force from 30 April this year.

"Payment service providers will not be able to develop business models in a way that crypto assets are used directly or indirectly in the provision of payment services and electronic money issuance, and will not be able to provide any services related to such business models,"
 
maxinger said:
10% drop means it has pierced the rising trendline.

how is the volume?
is the volume significant?
if the volume is significant, it might mean this is Tulip Mania., the beginning of the end.
More...

10%+ drops in crypto happen at least every quarter since inception...
 
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