This Week In Crypto

[crypto1010]

- Tether hits $5B mcap — link
- As traders get liquidated, BitMEX scores 2,612 BTC — link
- CMC claims $275B volume — link
- Crypto market cap gets demolished — link
- $4M in uncollateralized DAI — link
- Bitcoin shows high correlation with the stock market — link

[Ken_terrance]

The correlation is not high enough, why call that high correlation when Bitcoin goes down from 5000$ to 4k today? The way I'm seeing things it's possible that Bitcoin will go down to 3k again

[casperBGD]

The correlation is not high enough, why call that high correlation when Bitcoin goes down from 5000$ to 4k today? The way I'm seeing things it's possible that Bitcoin will go down to 3k again

everything can be expected now, BTC is again below 5k, and this time will probably state there for a while, since global pandemic is here to stay at least two months

[btcltcdigger]

Nice. I like these TLDR; updates.
Keep them up. It's interesting to see what happened noteworthy in the last week

[cryptoaddictchie]

Nice. I like these TLDR; updates.
Keep them up. It's interesting to see what happened noteworthy in the last week

By the way, I have the same update daily and summarize for the whole week if you are looking for updates on the latest news happening on crypto.

Check this out.

https://bitcointalk.org/index.php?topic=5213308.msg54038378#msg54038378

Im just locking thr thread to avoid unnecessary spam. The update also everyday will give you all information you need or your sort of interest.

[btcltcdigger]

Nice. I like these TLDR; updates.
Keep them up. It's interesting to see what happened noteworthy in the last week

By the way, I have the same update daily and summarize for the whole week if you are looking for updates on the latest news happening on crypto.

Check this out.

https://bitcointalk.org/index.php?topic=5213308.msg54038378#msg54038378

Im just locking thr thread to avoid unnecessary spam. The update also everyday will give you all information you need or your sort of interest.

Now why would you give me a direct link to "meriting" your post, instead of a direct link to your post?

[ballerin and giroud]

Stable coin will be the best choice when the crash come and we will see it right now, the investor will store to safe their moneg first to avoid a huge loses. I can't still imagine the affect from the pandamic can affect all global market even it can make economic recession come for a country. I am so regreted because when the virus come bitcoin and the major crypto were in a good trend, bitcoin and altcoin price have increased and many people have consider that bull run will come. But that was a dream and now we have to face this situation.  

[cryptoaddictchie]

Now why would you give me a direct link to "meriting" your post, instead of a direct link to your post?

Sorry bro, I just did I mistake since I thought already copied the link I supposed to attach but Ive already edit it. Checked the link again, sorry for that mistake.

[Zandyoby]

The market has really been crazy this week. I know some friends that went completely offline because of the unexpected downtrend in the market prices and volume. Its not over though, lest expect a turnaround soon.

[btc_angela]

The correlation is not high enough, why call that high correlation when Bitcoin goes down from 5000$ to 4k today? The way I'm seeing things it's possible that Bitcoin will go down to 3k again

Bitcoin or crypto is really volatile, so it's possible that correlation is somewhat at minuscule level at this point. As far as the price going to $3k, yes there is a big possibility as it seems that the market is on antother nosedive, more than 10% already and it is just the start of the week. Probably will trade sideways then another dump, coming, but we don't need to panic, let did subside.

[aioc]

Interesting data one of the biggest loser here is the Cryptocurrency, and it's hard to admit this but it's a short defeat I'm pretty sure there will be rebound as the world continues to combat this plague if we see that the world can take care of this plague and minimize the casualties we can get the market back as it was before the crash, we need to get it back we are all one in this.

[lobo13hf]

The correlation is not high enough, why call that high correlation when Bitcoin goes down from 5000$ to 4k today? The way I'm seeing things it's possible that Bitcoin will go down to 3k again

That means bitcoin has a strong correlation and look at what happened with the stock market when it was getting opened this morning and so many investors are leaving the market temporary.
Bitcoin was also following the trend that is happening with various speculation market right now. that makes sense if he can argue about that.

[Malam90]

Tether hits $5B as the market is now becoming worse almost everyday in the last few days and people are converting their coins with USDT. That's why Tether hits $5B and its price now increases because of its demand. If this situation will exists in the next few days, i will not surprise to see if it hits $1.10 and marketcap will hit $5.5B.

[ned.ryerson]

I think this week was one of the worst in recent years. maybe even for the entire existence of the market. many of my friends were simply liquidated at the margin trading. I try not to open my portfolio at all.

[mahilchii]

This could be the real horror week from starting of January 2020 to till date crypto experienced a big shocker after the prices continuously fumbled to perform, No one believed this will happen before halving but volatility is it's nature and this bear market will not be forgotten for sure. I guess the happy days are back for big whales

[Flux0z]

At this rate, Tether will be ranked #1 within a few years. It keeps gaining in marketcap due to printing of new coins all the time, propping up the cap of the project. In 2017 it was not even in top 20.

We're in for one hell of a ride, buy the blood.. And you'll do well once the market moves around and go BULL. I'm accumulating BLOCK and a few other DEX related projects, as I believe decentralized trading is the future, since regulation will be enforced WAY harder than now on all exchanges around the world, which I'm sure a lot of people is against.

[betty11]

Maker loses $5M, that is terribly sad, DEFI didn't predict accurate market movement? Bitmex Insurance making over 2k+ in a single day is a huge gain. That of tether is well understood because of the condition of the market. People that are wise will start accumulating coins in this unprecedented downtrend.

[pikkie]

I think this week was one of the worst in recent years. maybe even for the entire existence of the market. many of my friends were simply liquidated at the margin trading. I try not to open my portfolio at all.

well, I totally agree with what you said because I saw this week the price of cryptocurrency was terrible, the price of cryptocurrency at the exchange place collapsed and made many people panic. the destruction of the world economy due to a virus outbreak that spread is very detrimental to many people.

[iamaruf]

The correlation is not high enough, why call that high correlation when Bitcoin goes down from 5000$ to 4k today? The way I'm seeing things it's possible that Bitcoin will go down to 3k again

Predict bitcoin is really tough.Even Bitcoin can reverse now.maybe for now bitcoin is stable because panic seller already sold their bitcoin.If again bitcoin bitcoin lost support now then it can go down to 4k to 3.5k.But i don't think so.Already place order in 4.8k to buy 1 bitcoin.

[Finestream]

What people are seeing more visibly is the price action, today, bitcoin drop below $5000 and therefore I wouldn't be surprise if the drop will continue.
There is no light that we are seeing now, people are still in panic, day by day the measures are more drastic of suspending gatherings and people advise to stay at home, with this, money circulation would be limited and that would affect the profitability of the business.

Let's make ourselves ready for a possible further drop of bitcoin.