You could tell me Bitcoin is £1000 or £100,000 and I’d believe you.
Take my money.
Has the crypto bubble burst now?
Bitcoin is teetering on the precipice of an abyss, according to some crypto market analysts, with its price hitting its lowest level since July 2021.
Meh, I only bought £1000 of crypto last year and I keep it in my own wallet. It’s worth about half of that today but I was never trying to make a quick profit. I’m certainly not going to sell it.
In late 2018, Bitcoin dropped to about 20% of its late 2017 peak (priced in USD). At the moment its about 40% of its summer 2021 peak. So at the moment its in seen it all before territory. I have more confidence this time round that it will bounce back due to larger institutional interest.
Is revolut any good for buying some bitcoin? Few hundred pound worth hassle of own wallet?
Looking on the bright side:
I have £4k invested through Revolut (different cryptos)
It’s easy, just BUY/SELL, suitable for newbies
For anyone with access to FT, this interview with the CEO of FTX is an interesting read: Crypto billionaire Sam Bankman-Fried: ‘I got involved with no clue what a blockchain was’
Fascinating read, where an expert explains crypto to a journalist. Laughed at loud when the interview got to the following part:
Expert: “If your cryptocurrency wallet is compromised, all your apes are fudged.”
Journo: “All your what, sorry?”
Thank god I sold my one bitcoin
Are you a bot? Lol
Wait for the edit and added link
I’m more of a UTC person.
When in doubt just make a new version
Wrote a blog post about the Terra-Luna collapse:
Alternative title: “Watch a billionaire with an ego larger than Elon Musk’s get humbled”
This is so interesting. At so many points I am reading this thinking, how on earth does billions of pounds flow around amongst these people who don’t understand basic economics. I understand how you could trick an average consumer into believing in a ‘Stablecoins’ - but experienced investors, that’s just bizarre to me
At this point, it’s probably equal amounts grifters looking to part fools from their money, and people so deeply invested in cryptocurrency (emotionally, I mean) that they can’t look at it rationally and only see it succeeding
Another day, another crash.
I can’t really see crypto recovering to anywhere near where it was before. More likely it still has further to fall.
There have been large market corrections in the past, but we’ll see. I only gambled £1000 last year (worth less than £500 now) but I’m happy to leave it.