Dogecoin

[Dallasfan]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

[Chase.rackowski]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

See I don’t follow dogecoin so I didn’t know what it was worth, but you’re correct actually. Lol. And I feel like that’s exactly what it is.

[GreysonTCU]

I wonder if some of this sell off has anything to do with the colonial pipeline hackers. They got 5 million in Bitcoin from colonial and another 85 million from other companies.

Might be dumping it on the market right now.


I guess I know less about crypto than I thought. I thought dogecoin was at 0.46. If you bought $435, should that be 945 coins.

Bitcoin and a lot of these coins are dropping right now because China announced a crack down on cryptocurrencies. They stated Bitcoin will not be allowed in any transactions all the while promoting their own currency. It would not surprise me if additional nations follow suit in the future as the coins do have an effect on those countries currency. Most of the coins I have viewed this morning are down around 30%.


One thing concerning money my dad had taught me, "During the California gold rush the people who became wealthy were the people who sold the picks and shovels".

[Chase.rackowski]

Bitcoin and a lot of these coins are dropping right now because China announced a crack down on cryptocurrencies. They stated Bitcoin will not be allowed in any transactions all the while promoting their own currency. It would not surprise me if additional nations follow suit in the future as the coins do have an effect on those countries currency. Most of the coins I have viewed this morning are down around 30%.


One thing concerning money my dad had taught me, "During the California gold rush the people who became wealthy were the people who sold the picks and shovels".

Well I figured it was going to dip, but I can honestly say I didn’t expect to wake up this morning with 60% gone. I personally believe it’s a panic sell and will level off in a few weeks or so. We’ve gotta keep in mind that a little over a year ago, bitcoin was under 4K and a couple weeks ago it was around 55k. I’m personally going to invest a little more after it drops for the next few days, but this is definitely a high risk time. Even with the drop, I still technically have a large profit so I’m not stressing.

[Dallasfan]

Depends on how highly leveraged it is. Some people were borrowing so much money to buy crypto they couldn’t afford.

You get a few days like this in the crypto market and they are going to run out of money to keep their margins.

[GreysonTCU]

Well I figured it was going to dip, but I can honestly say I didn’t expect to wake up this morning with 60% gone. I personally believe it’s a panic sell and will level off in a few weeks or so. We’ve gotta keep in mind that a little over a year ago, bitcoin was under 4K and a couple weeks ago it was around 55k. I’m personally going to invest a little more after it drops for the next few days, but this is definitely a high risk time. Even with the drop, I still technically have a large profit so I’m not stressing.

I was actually planning to fly out to Vegas next weekend for gambling and nightlife but now I'm considering using that money to purchase more crypto. Opportunities to buy investments with such significant drops are rare. Buy low and sell high, sadly human nature and emotions cause people to do the complete opposite.