What really caused this crypto market crash?

real answer? a 500% pump is followed by a dump, nothing out of the ordinary

I feel like a fool

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actual reason: because i bought some

You people are obsessed with Tether.

Which is bullish, because this Tether obsession was there as well during Bitcoin's run-up to 20k as well.

Went from 3.2k to 14k to 9.2k

The state of these goldfish brains. DCA on the way up faggots

>the sky was blue during the bull run to 2017
>therefore blue skies are bullish for Bitcoin
10/10 logic

This is a joke, but at least the brainlet realizes you can trade against his sentiment.

the fuck is your point you fucking retard

fudders: "the bullrun is because of tether"

also fudders: "tether has as much to do with the bullrun as the sky being blue"

As of today, I can still go to coinbase and dump my entire life's savings into digital currency which guarantees me to be tax cattle for life. Why would they regulate this?

>You people are obsessed with Tether.
rightly so...

says you

Printing Tether is no different from how fiat money works.
As long as people want to "buy" those tokens, they're as legit as any financial instrument.

That faggots like you are short sighted and impatient as fuck.

Tether isnt normie money nor is it backed by normie money. Its literally backed by fuck all and air.

good. So too did everybody who bought the top of the fake tether fueled run up to 20k

you faggots will cry as BTC continues to dump, and like the good goyem you are, you'll blame a tweet issued by the God Emperor Trump, a tweet that did nothing more than point out the fact that BTC is backed by Tether which is backed by absolutely nothing.

Try dilating.

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>Printing Tether is no different from how fiat money works.
So you don't understand Fiat then...
>MUH FIAT IS PRINTED

You know this is a finance board right?

"Fiat" means "let it be so"; it's basically a magic spell.
It gets created out of thin air.

>So you don't understand Fiat then...
Quit roasting yourself.

Isn't fiat, particularly the US dollar, just backed by "faith"?

>Tether which is backed by absolutely nothing.
Just like fiat then.

Right? The Dollar is backed by the US military. Whereas Tether is backed by the CEO's fear of what will happen to him and his family if he doesn't pay back the money he owes to mobsters and cartels.

This shit show is only getting started.

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>you should be asking what caused this pump
Literally an April Fool's joke. We're in tulip bulb world right now

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>It gets created out of thin air.
Double downing on retardness

Are you a Zoomer?

This isn't pol dipshit. Tether is 70-80% backed by usd (even if it is dirty money). How much usd do your precious banks have compared to the amount they claim? 10%? 5%? Less? Fuck off.

The US dollar is THE reserve currency and its backed by not only its status as the premier globally dominant currency, its backed as well by the US military, the flow of oil, and the labor of it's citizens, you fucking idiots.

Tether is just another digital token except its not even backed by fiat. That means the price of BTC is artificially inflated by Tether. Which means when they stop printing billions of the worthless shit, the price of BTC crashes.

It already happened in 2018. But i get it, you incels have short attention spans and still expect to "make it"

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Maybe you should actually look up how fiat works.

>bank to central bank: "we just sold a loan and we're going to get 1k in interests in one year"
>central bank "ok, we're going to create 1k out of thin air, since it's sure to come in one year"
ta-da

"fiat" =/= "the dollar"

>tether is 70-80 backed by fiat guize! Really!
bitch thats just a meme one that FCC and SEC and other US regulators are about to shit all over with a big broad smile.

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>The Dollar is backed by the US military.
Yeah, because every time my local gas station tries to jack up their prices, an army platoon swoops in and forces them to put the price back down.

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>comment demonstrating what an IQ lower than a puddle of fronthole leakage looks like
You must be a liberal jew

>The Dollar is backed by the US military.
Although not wrong in the Middle east (& only including Burgerland) sure

In reality its backed by the labour of this & future generations. Just as it was for the past generations.

I have Zoomer! Great retard explanation! Where did you learn that, memes?

>I have Zoomer! Great retard explanation! Where did you learn that, memes?
Self-aware shitpost.

I know it's a meme, but sometimes memes are correct. But it was fucking Tether and to a lesser degree the confusion over Bitcoin Cash. Tether is printed literally out of thin air but is used to artificially pump bitcoin which was meant to be digital gold... but Tether is the worst Zimbabwe level fiat currency that exists. Bitcoin Cash confused new institutional investors that weren't too keen on bitcoin to begin with and didn't like altcoins... they didn't comprehend the fork and once it came out on Coinbase kind of diversified on both before just pulling out.

That being said, I'm not a fan of regulation in the cryptocurrency world, but shit like Tether needs to be banned. Cryptos pump just fine it doesn't need that insane artificial bullrun of 2017 in the worst boom and bust.

>The US dollar is THE reserve currency and its backed by not only its status as the premier globally dominant currency, its backed as well by the US military, the flow of oil, and the labor of it's citizens, you fucking idiots.
>and the labor of it's citizens
>the labor of it's citizens
>labor of it's citizens
Yeah, i know fren

What mostly pumped Bitcoin is ETH and its ICOs.

>we are a little bit out of schedule
yeah it was hype about bakkt. we really should be at 9.2k trading range now.
I think the market hype about bakkt has now realized that "they already have the coins they are going to open with, thus expect no real positive pressure once it opens next week"
if investor demand is good, we will resume the push to 13k and beyond.

>shitpost
Sums up your posts really well!
Zoomer confirmed

You've no idea how bad it really is!

>Tether is printed literally out of thin air but is used to artificially pump bitcoin
so why would exchange A accept tether deposits printed by exchange B?
You guys dont even engage in the most simplistic of critical thinking...we should start confining you retards to homes.

I'm honestly surprised Iran or Syria hasn't put their currency on a bitcoin standard. I'm not sure if that even makes sense for them but it would be really trollsy.

WRONG
The ICOs were pumped from dumb investor money, but at least it was actual money flowing in the alt market.
BTC's run up to 20k was fueled to a great degree by unbacked Tether.

Everybody knows that fact. So either you're a lying Jew, or idiotic trailer park trash.
>pic one

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But Tether is only printed by Bitfinex and used it to buy btc on their own exchanges.

Blumph said crytpo is a scam and his supporters all dumped. Probably getting banned in the US.

Wrong.
coingecko.com/en/coins/tether/trading_exchanges

Bitcoin flew because ETH and its ICOs caused a massive spike in crypto interest.
Bitcoin didn't have ANY good news all throughout 2017.

>dollar backed by US military
>tether backed by CEOs fear of thugs and cartels.

user, I......nevermind.

me
my fault
sorry
was an accident

wow, great argument you got there

a fat finger at tether + trump shenanigans
you should get out of /biz from time to time and inform yourself , galactic faggot

gov needs to create a dip to buy it

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is btc meant to just go up without any pullback? there were multiple 30-40% corrections during the last bull market. the alts are getting slaughtered because 99% of them are pure, unadulterated dogshit

Read on I explain it.
I can go deeper, but didn't see a point in wasting my time with Zoomers...As the Flynn effect isn't a thing anymore. Thanks Zoomers!

The Fool giveth,
and the Fool taketh away.

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Nobody. The prophecy is fulfilling itself.

False, a boom and bust cycle is never organic. That bizarre frenzy for btc would've never happened coincidentally during a moment of huge Tether printing on just interest alone, and the interest stopped out of nowhere? Coincidentally around the time the SEC was looking to investigate Tether...

What a fucking coincidence!!!

Who said anything about "organic"?

Yeah, thats right. Both are backed by people with guns. One is the US government, the supreme military power on the planet, the other group are a bunch of rapists, murderers and pedophiles who party at Epstein's Island of Horrors when they're bored.

Your point?

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went up too fast
this was predictable as shit only question was when and how low we fall