It's weird that we can all clearly see how AI is about to wipe out millions of jobs all at once, destroy every artistic field, make it impossible for us to discern reality from fiction, and destroy human civilization as we know it, and yet not one single thing is being done to stop it. We aren't putting up any fight whatsoever.
The disposition effect is a behavioral finance bias where investors tend to sell winning investments too early (locking in gains) while holding onto losing ones too long (hoping for a rebound). It's rooted in prospect theory, as people feel losses more acutely than equivalent gains. First identified by Shefrin and Statman in 1985. For more, check sources like Wikipedia or The Decision Lab.
Yeah if the real figure is 19.25B it would basically be on par with Covid wrt market cap at 0.47%.
That being said, I’m using market cap as a convenient all-encompassing denominator. But it does leave off some nuance. The best way to really express the difference between times is to use open interest in futures but I didn’t have OI data handy and figured market cap would be a close enough approximation.
The point being if derivative markets grew at a faster rate than the regular market since 2020 (fairly certain they did), then market cap still understates the severity of previous liquidation events. The degree of that severity, idk. But I was around in Covid and I can tell you — controlling for variation in whatever instruments were in vogue — it was much worse than this.
So, what's next?
We believe this crash was due to the combination of multiple sudden technical factors.
It does NOT have long-term fundamental implications.
A technical correction was overdue, we think a trade deal will be reached, and crypto remains strong.
We are bullish.
Have a friend that was close to 30M net worth
Has almost a decade in crypto
Lost the whole 30M yesterday in 10 minutes on cross margin
An entire decade and multiple generations he could have retired all gone in 10 minutes
@PlauDD@lillyvivvi Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver.
@rovercrc For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.