Nearly $170 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back

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Bitcoin, the largest cryptocurrency, fell over 11% from a day earlier to $35,828.06, at around 12:15 p.m. Singapore time.

"The correction we saw was expected as we believe the BTC price surge recently from under $20,000 to $40,000 in the past four weeks will induce sell pressure," Simons Chen, executive director of investment and trading at cryptocurrency financial services firm Babel Finance, told CNBC.Bitcoin's resurgence has been attributed to a number of factors includingAnd it has also been likened to "digital gold," a potential safe-haven asset and a hedge against inflation.

"This short term correction is both natural and needed, and is a great entry point for long-term investors as we quickly reach $50k this quarter and $100k by year's end," Chu told CNBC."It's probably going to $100,000, then $150,000, then $200,000," Palihapitiya told CNBC's "

 

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Sad

Was overextended. Healthy correction. That what happens when fomo kicks in.

What was bitcoin twitter saying about staying poor? badkarma

LowLifeRico

What is your point? Zoom out and look at the 5 year chart for BTC. LOL, what idiot pressed the publish button on this one?

Every cent of that 170 billion will eventyally be transfered to stronger hands.

Embrace it. Here is our chance to own more.

GET ready to Buy Bitcoin $27,922.10 TheWolstreet analysis

gOLd iS kInG 🤡

Donate me money for no reason. That's all. Thanks.

Trimming the fat

Someone send me some bit coin please, need production money for my movie, $200 would do thanks. 15yQykqNK2PmUq5wWEh3sBJvWtSG2PgvJc

Memories of BKBrianKelly telling everyone to buy $XRP top in 2017

God I love this stock 💰

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it has always been like that... u guys just have a short view on everything like TESLA f.ex. BuyTheDip

Qué tal la cifra Doc ToroDeArena ARENAALFA

Ponzi must be upset

Bitcoin is like buying shares in a company that doesn’t make anything right? Or like the temperature from one day to the next? Except we know the temperature can’t just disappear into thin air at any time? (Or into someone’s /creators bank account?)

no body gives a shit to BTC - because nobody accepts a highly fluctuating currency

The bubble of the century...

It’s called a “bubble”

Now do Gold from Friday collapse

People who bought at 40-42 with their 'stimmy' just had a massive lost. $xrp LOL

Bring Down federalreserve - WhiteSupremistSell Stocks, Dollar. Bitcoin and Gold - The StockMarket is melting CCP JoeBiden

„It’s a store of value“ - 🤡

bitcoin the biggest scam lol

Fake business....

Gorgc u did it

From The Wall Street Journal: “Bitcoin depends on the faith of investors and nothing more,” Prof. Prasad says. “It could equally well go to zero tomorrow if 10% of investors sold.” That's what happens in a Ponzi. 10% take their money, which is ALL the money.

Bullish dumping

vallendeappel baaahhh ff gedropt naar 28k

My question - if Bitcoin is unlike anything we've seen and everyone needs a piece and you believe the Bitcoin accounts who say you need to buy or you'll forever regret it, why do these dips happen? If it's so valuable, finite, life changing, why isn't it being snagged today?

finally. Put your money into my stocks instead

Who writes these articles? “The selloff comes after a huge rally and perhaps signals some profit taking from investors”. Seriously? What a meaningless comment. We know THAT. We just don’t know why there was profit taking at this particular level.

Pulls back ? 20 %? More like a collapse Bitcoin btc bitcoinidiots

The future is dogecoin

We never sold

My Bitcoin went down 2% after it almost doubled like a week ago.

Yes, because Trump invoked the insurrection act.

CNBC dinos

The disappointing thing about this is that every climb people spend money they don't have on Bitcoin & the downturn wipes it off. The rich are able to hold on & continue to earn

Benaskren

Buy signal $SYLO in Kucoin 👇👇👇👇👇 Buy fast 📈 $SYLO go go go 🚀🔥

Questions that need an answer: What cashflows do BTC and other cryptos provide? Or how is private digital currency like gold or an industrial-use commodity? It's stuff for a Buddhist koan.

It’s still up 80% over the last month and 300% over the last year... chill.

Yes this is true but they failed to us tell the world how much people gained when Bitcoin sprang from 8k to 40k I even expect more falls for Bitcoin yet because this is just a little shift from 40k to 33k🤷‍♂️ A time will come that it will still rise above it's history ever recorded

Bit disappointed

This how the whales in cahoots with exchanges siphon the money of retail investors.

What's $170 billion between friends. Bitcoin will continue to fluctuate wildly.

through it all $HEX is still earning CASHFLOW 🔥🔥🔥

'11%...21%...' Golly. My knees are knocking.

Folk der spiller dette spil med rigtige penge er sindssyge.

Neloangelo314 look at the time posted

Barely a dent. Bubbles don’t burst overnight.

Bitscam will leave a few rich people and ton of bagholders with a little computer “key” worth nothing 🙈

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At least we got interest.

It was bound to happen, but the bottom is almost in, I think it’ll bounce back in no time, I predict it’ll get to $33K and bounce from there.

Coinbase is the 1st to go, then the bitcoin proxy stocks, then the market, then the $tsla 🤔

Dump more!!! Hahahahaha

Haha suck it

It needs a pullback to look like a real asset.

Coinbase has ripped off a lot of people. File formal complaints against Coinbase online with SEC and CFTC: ..

As long as the government keeps printing that money, silver gold and crypto will move up

Bubble burst!! Nothing surprising!!

Oh, that's an interesting drop, wonder if it ties in with current events?

Yelling fire in a crowed movie theater is illegal. So maybe shut up with your scare tactic titles

Just fyi for everyone hoping that bitcoin will crash. If the entire cryptocurrency market crashes, you’ll have a bigger shitstorm on your hands than 08-09. Now that’s power. HODL

Bitcoin SundYSelloff =) love to watch it all night, hope everyone else is too =)

Regular harvest.

9% pullback after doubling in less than a month...

TraderKoz didn’t have to wait until tomorrow!!!

shitcoin

Sounds like it’s time to buy more.

Bullish

Overdosed with prozac so I’m very hyper right now!

Bring it to 4K🥶🥶🥶

Bitcoin : The Tulip Mania of the Twenty First Century

Go ahead and say what you really want to say ... “bitcoin is dead” (for the 927th time).

not familiar with crypto markets, you are. may the gains be with you.

This timeframe is irrelevant to Bitcoin, we’ll look book at $300k and wish we never sold.

That’s why I swing trade. Sold off my lil last fraction of a share Friday.

Bitcoin is still up 340% in the last 12 months!

BTD and HODL is the way. Everyone else is lost in the noise (short term movements). Currently BTC is $35k after today's dip. Come back EOY. Hope you bought/held or else have fun staying poor.

And will rebound and grow in a matter of days

So you thought just because you’re pumping it it was going to go up forever? Gold is king

Normal markets go up and down 😂😂😂😂😂😂

It’s a correction, we lost about 12% today we’ll be fine! The Asian markets will jump right in

Bitcoin bulls, what’s happening

It's called minor correction that bitcoin goes through every now and then after epic run! Relax!

The greatest ponzi scheme ever! The mega crash will be exciting!

I love seeing alll these alleged “Bitcoin Millionaires” on here talking about all their Bitcoin Wealth. I predict it goes to zero when Biden’s SEC starts to regulate it.

next will be Tesla

Ffs

Bullish

Forget Bitcoin - that’s for suckers. I buy old monopoly games on eBay - the money in those old games will soon be worth more than the US currency in your pocket.

Daamn time to BUY

lekh27 I said so many times before and thrice in past week

Remember when the metaphorical you was saying you'd buy the next dip? Here it is.

🤣

Shitcoin

Just a little dip. Welcome to Bitcoin. Go ahead and short. See what happens.

Some guy made billions and idiots lost $170B

Yeah and I got clear the fuck out! ASSHOLES!!!!!

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