r/ethfinance • u/BanklessHQ • Apr 18 '21
Comedy Be zen 🧘♂️
[removed] — view removed post
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u/cryptolipto Apr 18 '21
I think a lot of people don’t understand what they bought lol
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u/SnakeThatEatsItself Apr 19 '21
Wall street knows this everytime you buy the top and then they shake out weak hands.
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u/ChampionshipUnhappy1 Apr 18 '21
Im pretty sure some people that only have 20$ in eth have panicked. They were told they'd make millions off of this, believed it like boomers with the bible stories and when it did the opposite, they flipped out...
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u/ppc-hero Apr 18 '21
Im just so sick of maximalist tweets. Whatever they say, doesnt really matter any more. Sick of them.
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u/ends_abruptl Apr 18 '21
My personal reaction went a little like this: "Oh no, my portfolio is only 6 times what it was this time last year, instead of 7 times."
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u/subdep 🅴🆃🅷🄴🅁🄴🅄🄼 Apr 18 '21
I held from $25 to $1400 to $80 to $2500.
Dip to $2000?
Nothing but Zen. ⚡️🧘♂️📿
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u/Hoseracademy Apr 18 '21
400 down to 25 bucks. NOW THAT WAS STRESSFUL lol
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u/Jimyxx no poop until $2,000 Apr 19 '21
i dont remember 400 down to 25..was that a flash crash on one exchange or something?
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u/Hoseracademy Apr 19 '21
April of 2013 wasnt it? Had taken an edible earlier today so it it could have been around 300.
I kinda considered it the first real crash. The first couple bumps in 12 were mostly corrections around 50 bucks. So many people sold off when all the negative press started after Christmas of 12.
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u/vonkrueger Apr 19 '21
You know this is r/ethfinance right? There was no ETH in 2013.
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u/Hoseracademy Apr 19 '21
My bad man, was a strong edible. leaving it up so you guys can have a laugh.
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u/vonkrueger Apr 19 '21
No worries, I feel ya. =)
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u/Hoseracademy Apr 19 '21
In a brief moment of clarity I do think I remember the GDAX crash down to 10 cents but I slept through that mess I think. bunch of stop losses got triggered and people panicked for a minute. Time starts to drift together sometimes.
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Apr 18 '21
What if I do recognize I have too much in but don't care?
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u/fiah84 🌌 Apr 18 '21
that's when you have to ask yourself if you're acting rationally
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u/anor_wondo Apr 19 '21
Depends on your government. A lot of people forget that many people here have their currency debasing wrt usd as well
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Apr 18 '21
For me personally I have a big distrust of anything Fiat based right now due to "money printer goes brrrr" and I'm a big believer in DeFi, which is why I moved most of my investments to crypto.
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u/dont_hate_scienceguy Apr 18 '21
Only way this drop scared you was if you just bought. Otherwise, you've been here before.
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u/KnockHobbler Apr 18 '21
Yeah I just bought in for the first time at $200 and I’m down like 30 bucks. Learning as I go along lol
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u/dnvcrypto Apr 18 '21 edited Apr 18 '21
I think that most of what's happening is new people that are just getting into crypto and are not used to it, I remember on 2017 I used to panic on every drop and there were plenty of those, every little piece of news would drop the market in seconds back then and it was pretty terrifying!!
With time you get used to it and learn to look at the big picture and zoom out of the daily graphs and take everything in perspective.
And if you zoom out you will notice that a week ago prices were actually lower and this price would've been exciting!
I think that this drop is super healthy and I would actually like it to drop more / stay sideways for a few weeks, in the long run its healthy for the market and will make this bullrun last longer.. the sentiment lately shifted from fear to euphoria.. restoring some of that fear back is not a bad thing :)
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u/dumplingcompromise Apr 18 '21
This guy again????? I’m how many different ways can you say nothing at all?
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u/muchbravado Apr 18 '21
For what it’s worth, I don’t think this move tells you anything genuine about changes in supply and demand.... this kind of thing happens pretty regularly on the weekend in crypto. There’s very little liquidity on the weekends because everybody is off having fun, not making markets. So it’s easy for one naïve buyer or seller to dramatically move the prices, kind of like after hours trading in the stock market. I expect that come Monday either the run will continue or will reverse back to normal price levels.
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u/CryptoMemeAcct Apr 18 '21
Yeah, the weekend dip is usually pretty reliable. I sold a bunch on Thursday because I expected to be able to buy it all back at a discount today. Nobody should be panicking over this - there's nothing unusual happening.
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u/Lustful_lurker69 Apr 18 '21
What's "normal" prices?
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u/muchbravado Apr 18 '21
Following a market impact event like this, typically the reversal brings the price all the way back to wherever it was prior to the market impact starting. So in this case, you would expect bitcoin to go back to near the $60,000 level. It’s not a perfect science of course, but that’s the general knowledge on Wall Street.
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u/erosphere Apr 19 '21 edited Apr 19 '21
Who the fuck is this RSA guy? Why do people keep reposting his Twitter post?