Crypto's going crazy again!

[captainspoke]

Yeah, over the short span of only the last couple days, a nice 25% jump up, and then an equal loss--to end up where it was before it did that little trick.

What an amazing, fool-proof, not-to-be-missed 'investment', eh?

EDIT: https://finance.yahoo.com/m/2d619e57-23 ... rk%3F.html

[quote] ...Thursday’s reversal prompted one of Bitcoin’s biggest proponents, Mike Novogratz, to lament on not having taken more money off the table before the coin lost nearly all its gains. That may have contributed to its swift demise, according to John Spallanzani, portfolio manager at Miller Value Partners.

It’s a very “tight-knit market,” said Spallanzani. “Most likely Novo hitting bids spread like wildfire.”

Bitcoin dropped as much as 19% on Thursday and traded at $10,671 as of 5 p.m. in New York. Volatility is near the highest levels since early 2018, when the crypto bubble was bursting.

“It seems the crypto market got a bit too hot yesterday and is now cooling down,” wrote Mati Greenspan, senior market analyst at trading platform eToro, in a note. “What an incredible market where the price can crash about 15% in less than an hour and bring us back to the highs of the previous trading day.”

[captainspoke]

Has anyone noticed? Bitcoin now at $8350...

[OkiBum]

More like 7,800....

[OkiBum]

Who's buying crypto?

[mighty58]

If crypto isn't even going to be a safe-haven asset in times like this, there's not much point to it is there?

[captainspoke]

Not sure where it is today, but BTC has had some volatility. It was up around $8-9k a month or so ago, then dropped precipitously to well under $4k before coming back to settle above $5k.

Gold has had some odd movements, too, but nothing at all like bitcoin. I don't own either, but if I had to choose between them, I'd go with gold.