$CAN - Canaan recently reported holding approximately 1,915 BTC
And 3,952 ETH. At $0.17 a share, its market cap is now slightly less than the value of its BTC and ETH holdings.
@Croesus_BTC Posts like this are why leverage will continue to pile in at these levels. It’s not done until leverage is completely wiped out. That doesn’t happen in a day. That happens over months with volatility. I suspect a flash crash as this “depeg” is hot news and people buy the dip
@KiraDeathNote33@ZssBecker 5 years? Lol. History doesn’t repeat but it rhymes. 5 years ago you could have bought ETH for the same price it is today. Most alts are down 90% in last 3 years (meaning 10x, or 1000% needed just to break even). Crypto is a joke.
@cryptojack Not sure why people think ETH is going anywhere. If it goes up, it gets slapped down. Goes down, pressure moves it up. 10 years at $2k. 20 years from now will still be at $2k.
@shahh Knife catching attempts. No support. Also, btc has no real value. So…. You’re asking why nobody is willing to buy an asset that’s dropping when they know nobody wants to buy it right now?
@HodlFlorida Add some fib extensions from alll the prior moves and it becomes clear that we must test certain zones. If not now, someday. 30-40k is a great buy zone. 20-30k is epic. Hardest zone to buy will be 50-60k, but that’s probably the best market low.
@TheBTCTherapist Breaking structure on high timeframe frame is VERY DIFFERENT than a deep pull back. 78k a few months back, is not the same as breaking 78k now.
@OverkillTrading Problem is - the last low wasnt a break of structure on high timeframe. This time will be. That’s a completely different scenario. It means that 99 times out of 100 the bottom is NOT in
@CryptoBoss1984 This time is different unfortunately. The run up in BtC didn’t coincide with any upside in crypto alts - even with big money and ETFs. The crypto “investors” that joined in and gave market liquidity (40+ year olds) are never going to invest in crypto again.