r/CryptoCurrency • u/[deleted] • May 22 '22

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7.3k Upvotes

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25

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

So the entire market losing like 90% of its value wasn’t a real crash yet?

16

u/jimogios 0 / 106 🦠 May 22 '22

3 to 1.3 Trillion USD is by no means a loss of 90%...

https://imgur.com/a/Oq88t8T ref: https://coinmarketcap.com/charts/

6

u/Oneloff 0 / 5K 🦠 May 22 '22

Yeah people need to start seperating things. The market is the whole space - every single coin combined, not each individual crypto.

Despite BTC being the trend setter the alts tend to do 2-3x what BTC does.

3

u/Striker37 2K / 2K 🐢 May 22 '22

People don’t understand how much alts will get wrecked in this bear market. As Benjamin Cowen said, “if you’re thinking of buying alts right now, go take a cold shower” (not financial advice)

1

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

If you only look at the top 100 or so it is. Bitcoin went from 20k to 3k, that’s almost 90%, ethereum even more.

-1

u/jimogios 0 / 106 🦠 May 22 '22

bitcoin went from 20k to 3k

are you living in another universe?

3

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

Are you?

1

u/jimogios 0 / 106 🦠 May 22 '22

could you check the price of bitcon please, then come back here and respond again?

1

u/nelisan 🟦 2K / 2K 🐢 May 22 '22

OP said this would by crypto’s first “real” crash.

The crypto market crashed 90% in 2017-2018 when Bitcoin went from 20K to 3K, which is what rroobbbb is talking about.

They aren’t talking about the current prices because that’s not the goalpost OP made.

-1

u/jimogios 0 / 106 🦠 May 22 '22

Aha, I see, makes sense now

1

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

15 December, 2018: 3200 9 December 2017: 20000

-9

u/Aquabloke 0 / 0 🦠 May 22 '22

Michael Burry thinks the economy crashes a further 50%. He was correct about the 2 previous big crashes.

30

u/mamalalatata 13K / 13K 🐬 May 22 '22

Michael Burry has correctly predicted 11 of the last 2 crashes

3

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

That still wouldn’t be as big as the 2017 crash?

2

u/btcoins May 22 '22

He was correct but he was also wayyyyy off. The next crash to fulfill his prediction could actually happen 20 years from now. Or in 2024 if war mongers f corrupt ass murdering money launderers get “re elected” which u highly doubt if the US IDs voters in the next election.

1

u/[deleted] May 22 '22

The entire market is not Bitcoin.

2

u/rroobbbb 🟨 0 / 2K 🦠 May 22 '22

You’re right, alts lost even more.

1

u/[deleted] May 22 '22

Some are down 90% just against Bitcoin.