Blackrock and Citadel got a 100k bitcoin loan from Gemini and used it to buy shitloads of UST hoping it would break the stable coin and subsequently crash the entire crypto market.
They then buy the btc back at a discount rate, give it to Gemini to pay the loan and pocket the difference.
That's one way to look at it but remember that while Black rock and citadel already can cash out, lots of crypto retards have lost their shirts and are in no mood or position to buy back out of fear the hedge funds will fuck them again.
There's also the dead cat bouncing pattern to look out for. BTC could hit 20k or worse before it gets back to 40k.
Here's one hilarious example of a butthurt reddit fag:
If they did this, they can only do it once and now is a great time to buy. What's concerning is that actual gold is also down, which makes no sense in an inflationary market.
[ - ] Cunt 0 points 2.0 yearsMay 12, 2022 11:45:42 ago (+0/-0)
It might not be that gold is going down, rather that USD going up. Gold is up in AUD and Euros and I thought other currencies but apparently not the others I just spot checked.
Not up against gas from what I can tell. The fact that interest rates were set higher would make the dollar stronger. And we just finished tax season which tends to strengthen the dollar because the only reason why USD has value is as a tax/don't go to jail token, and its value was just reinforced.
Maybe inflation is going down but we don't notice it because our #1 indicator we see every day, gas, happens to have its own reasons for going up beyond inflation alone.
What's going to be really fun is when the Fed's choice to suddenly go to 5% on a dime in an already dysfunction market leads to deflation. I for one welcome the new great depression. More camping and hobo fires will ground us in reality.
[ - ] Cunt 0 points 2.0 yearsMay 14, 2022 17:03:48 ago (+0/-0)
Maybe inflation is going down but we don't notice it because our #1 indicator we see every day, gas, happens to have its own reasons for going up beyond inflation alone.
Yeah and petrol prices change everyday, often multiple times a day. The price of other things like food and clothing and services rarely change, high inflation means things that rarely have price increases increase more rapidly but when the inflation drops the prices of most goods and services down drop instantly, usually they don't drop at all and rather delay the usual increase at best.
What's going to be really fun is when the Fed's choice to suddenly go to 5% on a dime in an already dysfunction market leads to deflation.
Maybe I should watch more news. What was it before? The RBA just went up a standard 0.25%, presumably to 0.5% and people are freaking out, panicking it will do that at every meeting now. I hope a housing crash comes, even if the Chinese buy all the stock and stop a real drop in prices that would benefit me, but I'm just a crab in a bucket seeing too many others dancing on the rim thinking it will be funny when they all fall in.
Just ignore the Black Rock/Citadel drama. That's all it is really is drama. If someone thinks it's drama, then they should know to buy/hold because it's an artificial market price. A market can't be manipulated forever. Eventually something is going to break.
The history lesson here is that the market always bounces back from shenanigans. So what if it tanks further down to $20k USD? It's going to eventually bounce back to $40k. It always recovers after bullshit like this.
So, buy now at $30k or buy later at $20k if you think it's going to tank more. But, if you don't, this isn't something you actually believe. Because an artificial tank of the market isn't going to disrupt the market for long. Old timers know this.
I haven't read that article but Blackrock is a jewish company--likely just a federal reserve pawn. The fed can give them unlimited US dollars to do whatever they like. Honestly though it's dangerous for the dollar. People are noticing how expensive food is getting and don't understand inflation. If food prices double again, people will start to see it as a US dollar crash--which it is.
What's even worse is that only kikes create US dollars with their banks and they mostly give it to BLM and other interests they support--gotta have that diversity officer to get that loan. Gotta make those commercials with diverse people also..
[ - ] x0x7 1 point 2.0 yearsMay 12, 2022 13:05:33 ago (+1/-0)
It's part of the tech bubble collapse. It should correct a bit. The issue is that bitcoin now has 80% correlation with NASDAQ, and because the Fed raised interest rates a lot of these unicorn companies are not going to survive. That was a shock to NASDAQ, which was a shock to Bitcoin, which had been stable at one price for a long time which means investors are just looking to see if it breaks up or down. Because of NASDAQ it broke down, and everyone freaks out.
The NFT gang also aren't helping. They make crypto look like a joke instead of a useful alternative to central bank money. Not good for confidence. Fuck NFT folks entirely and the people who promote them as good for crypto. What's good for crypto is more real world adoption and faster transaction times. Support lightning, not NFTs.
[ + ] Master_Foo
[ - ] Master_Foo 7 points 2.0 yearsMay 11, 2022 22:25:02 ago (+7/-0)
This has happened dozens of times. Every time this happens, the old timers have to remind the NPCs how many dozens of times this has already happened.
See: Bear Whale.
[ + ] v0atmage
[ - ] v0atmage [op] 2 points 2.0 yearsMay 11, 2022 22:33:30 ago (+2/-0)
There's also the dead cat bouncing pattern to look out for. BTC could hit 20k or worse before it gets back to 40k.
Here's one hilarious example of a butthurt reddit fag:
https://files.catbox.moe/ihz9eo.png
[ + ] Spaceman84
[ - ] Spaceman84 4 points 2.0 yearsMay 11, 2022 23:32:32 ago (+4/-0)
[ + ] Cunt
[ - ] Cunt 0 points 2.0 yearsMay 12, 2022 11:45:42 ago (+0/-0)
[ + ] x0x7
[ - ] x0x7 0 points 2.0 yearsMay 12, 2022 15:17:48 ago (+0/-0)
Maybe inflation is going down but we don't notice it because our #1 indicator we see every day, gas, happens to have its own reasons for going up beyond inflation alone.
What's going to be really fun is when the Fed's choice to suddenly go to 5% on a dime in an already dysfunction market leads to deflation. I for one welcome the new great depression. More camping and hobo fires will ground us in reality.
[ + ] Cunt
[ - ] Cunt 0 points 2.0 yearsMay 14, 2022 17:03:48 ago (+0/-0)
Yeah and petrol prices change everyday, often multiple times a day. The price of other things like food and clothing and services rarely change, high inflation means things that rarely have price increases increase more rapidly but when the inflation drops the prices of most goods and services down drop instantly, usually they don't drop at all and rather delay the usual increase at best.
Maybe I should watch more news. What was it before? The RBA just went up a standard 0.25%, presumably to 0.5% and people are freaking out, panicking it will do that at every meeting now. I hope a housing crash comes, even if the Chinese buy all the stock and stop a real drop in prices that would benefit me, but I'm just a crab in a bucket seeing too many others dancing on the rim thinking it will be funny when they all fall in.
[ + ] SilentByAssociation
[ - ] SilentByAssociation 0 points 2.0 yearsMay 11, 2022 23:40:00 ago (+0/-0)*
[ + ] shitface9000
[ - ] shitface9000 1 point 2.0 yearsMay 12, 2022 01:31:24 ago (+1/-0)
[ + ] Master_Foo
[ - ] Master_Foo 2 points 2.0 yearsMay 11, 2022 22:44:47 ago (+2/-0)
The history lesson here is that the market always bounces back from shenanigans. So what if it tanks further down to $20k USD? It's going to eventually bounce back to $40k. It always recovers after bullshit like this.
So, buy now at $30k or buy later at $20k if you think it's going to tank more. But, if you don't, this isn't something you actually believe. Because an artificial tank of the market isn't going to disrupt the market for long. Old timers know this.
[ + ] GoldenAgeWhen
[ - ] GoldenAgeWhen 3 points 2.0 yearsMay 11, 2022 23:48:06 ago (+3/-0)
Precious metals have been manipulated for a very long time.
"The market can stay irrational longer than you can stay solvent"
[ + ] zr855
[ - ] zr855 3 points 2.0 yearsMay 12, 2022 01:27:02 ago (+3/-0)
[ + ] Stonkmar
[ - ] Stonkmar 0 points 2.0 yearsMay 12, 2022 11:18:49 ago (+0/-0)
[ + ] v0atmage
[ - ] v0atmage [op] 0 points 2.0 yearsMay 11, 2022 23:23:48 ago (+0/-0)
The reddit tears are priceless though.
[ + ] WanderingToast
[ - ] WanderingToast 0 points 2.0 yearsMay 12, 2022 05:05:47 ago (+0/-0)
[ + ] loud_niglet
[ - ] loud_niglet 3 points 2.0 yearsMay 11, 2022 23:43:51 ago (+3/-0)
[ + ] zr855
[ - ] zr855 4 points 2.0 yearsMay 12, 2022 01:28:47 ago (+4/-0)
[ + ] Splooge
[ - ] Splooge 0 points 2.0 yearsMay 12, 2022 12:13:38 ago (+0/-0)
[ + ] zr855
[ - ] zr855 0 points 2.0 yearsMay 12, 2022 13:50:41 ago (+0/-0)
https://www.youtube.com/watch?v=JG5c8nhR3LE
[ + ] GoldenAgeWhen
[ - ] GoldenAgeWhen 2 points 2.0 yearsMay 11, 2022 23:49:25 ago (+2/-0)
[ + ] o0shad0o
[ - ] o0shad0o 0 points 2.0 yearsMay 12, 2022 13:52:24 ago (+0/-0)
Gotta admit, though, that I think almost all crypto is going to be nerfed soon with the possible exception of some shitcoins. :(
[ + ] x0x7
[ - ] x0x7 1 point 2.0 yearsMay 12, 2022 13:05:33 ago (+1/-0)
The NFT gang also aren't helping. They make crypto look like a joke instead of a useful alternative to central bank money. Not good for confidence. Fuck NFT folks entirely and the people who promote them as good for crypto. What's good for crypto is more real world adoption and faster transaction times. Support lightning, not NFTs.