Crypto slump because of the moon??

Microsoft Anglotom
Jan 17, 2018 12 Comments

"The January drop is a recurring theme in cryptocurrencies as people celebrating the Chinese New Year, aka Lunar New Year, exchange their crypto for fiat currency," said Alexander Wallin, chief executive officer of trading social network SprinkleBit in New York. "The timing is about four to six weeks before the lunar year, when most people make their travel arrangements and start buying presents."

https://www.bloomberg.com/news/articles/2018-01-17/bitcoin-watchers-running-out-of-explanations-blame-slump-on-moon

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TOP 12 Comments
  • Microsoft MDuE35
    Garbage analysis.
    Jan 17, 2018 0
  • Amazon / Eng
    Hooliganss

    Amazon Eng

    BIO
    Engineer at AWS
    Hooliganssmore
    I love the term “fiat currency”. Nothing says pretentious like calling the currency 99% of people use as “fiat”.
    Jan 17, 2018 6
    • Amazon / Eng
      Hooliganss

      Amazon Eng

      BIO
      Engineer at AWS
      Hooliganssmore
      Value is assigned by who/what use something. How much is a coin that doesn’t physically exist worth? Surely nothing right? Or is it worth something because people assign value to it?

      Because there are virtually unlimited things that are ultra rare that have no redeemable value assigned to them.
      Jan 17, 2018
    • Facebook vso
      You're not arguing your point. A Fiat currency is defined as a government declared legal tender that is not backed by a physical commodity. Why is using that term pretentious when it's true? Is there a history behind the term that I don't know about?
      Jan 17, 2018
    • Amazon / Eng
      Hooliganss

      Amazon Eng

      BIO
      Engineer at AWS
      Hooliganssmore
      What definition of fiat are you using? I googled the definition, and the closest one you’re using seems to be: a formal authorization or proposition; a decree.

      "adopting a legislative review program, rather than trying to regulate by fiat"

      The definition I was referring to was: an arbitrary order.

      "the appraisal dropped the value from $75,000 to $15,000, rendering it worthless by bureaucratic fiat"
      Jan 17, 2018
    • Facebook vso
      The definition of "fiat currency", it's an actual term
      Jan 17, 2018
    • Amazon / Eng
      Hooliganss

      Amazon Eng

      BIO
      Engineer at AWS
      Hooliganssmore
      That makes a lot more sense now! Thank you!
      Jan 18, 2018
  • Apple / Eng
    DEADBEEF🍻

    Apple Eng

    PRE
    Microsoft
    DEADBEEF🍻more
    This was all over discord days ago. I don’t think so. More trading volume in the US. The selloff started in Asia, accelerated like crazy in the US, and doubled down again in Asia.

    Whatever started it was massive changes in volume. Probably whales (or governments), and everyone else started panicking. I don’t think the lunar new year was enough for it. But who knows.
    Jan 17, 2018 0
  • T-Mobile n5ytr
    Fuck this shit
    Jan 17, 2018 0
  • Airbnb Maggroo
    This is hilarious
    Jan 17, 2018 0
  • Microsoft O2
    If he knew for sure, he'd be a crypto billionaire by now
    Jan 17, 2018 0

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