1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[BornStar]

Biggest buy this bear market right around 19k

I'm done for now have fun yall. I will quote this in the future.

Only 2k away I ain't mad at it. Now if it goes to 12k then it aged like bananas on a dash board.

Edit: it's back to 19k in less than a couple of hours. I assume hardly anyone bought at 17.5k .. 19k will be a great buy looking back 2 years from now

For jynx purposes I need another low

 

[JJ Lions]

shyt dropping again.

Capo is like

 

[JJ Lions]

Whoa price alerts flying in

 

[mannyrs13]

hearing there was a bunch of liquidations, especially on eth.

Some shyt called BendDAO getting liquidated. Looking like it affects BAYC and MAYC.







These motherfukkers borrowed money to buy pictures of these damn monkeys and now they couldn't pay them back so looks like everyone getting screwed.

 

[mannyrs13]

Could BendDAO Collapse the NFT Market? Maybe

The community’s fears surrounding BendDAO escalated after it emerged that a Bored Ape Yacht Club whale had borrowed over 10,000 ETH.

cryptobriefing.com

What Is BendDAO? ​

Members of the crypto community are growing concerned that another potential liquidation cascade is on the horizon, this time in the NFT market.

The anxiety centers on BendDAO, one of several so-called “NFTfi” protocols that seek to accelerate the financialization of the NFT market. BendDAO is a lending protocol built for NFTs. ETH depositors can provide liquidity to earn yield (it currently pays 8.15% APR in ETH and BEND), while NFT holders can borrow ETH when they lock up their assets. In return, collectors get utility on their assets beyond mere flexing or owning a piece for the art itself. When someone locks up an NFT in BendDAO, they can borrow up to 40% of that collection’s floor price. However, if the floor price drops and nears the original value of the loan, the NFT can be liquidated and put up for auction. In this event, the borrower has 48 hours to repay the loan or face liquidation.

Soon after Cirrus posted their tweet storm, the community’s fears grew after it emerged that a prolific Bored Ape Yacht Club member who identifies as Franklin had borrowed 10,245.37 ETH (around $19.2 million at current prices) from BendDAO. Franklin is one of the world’s biggest NFT whales, holding a portfolio of 60 Bored Apes.




I don't know when that guy got all 60 apes but the fact he didn't take some profit is mind boggling. That's the issue with this liquidation and lending shyt. The banks control the money and the biggest bank of all is the Federal Reserve. Ain't nobody defeating them, even if they think they gonna have all these moonshot coins or NFTs. They don't even have to worry cuz they in control. The USD is the base currency for all crypto. Someone can borrow a bunch of USD and they charge the fees or interest on that loan. Even with this BendDAO thing where people are borrowing ETH. If something happens to the NFT like it has with BAYC, the loan has to be paid back with interest. Lets say that ETH goes up and they pay back the loan and sell to USD. The bank and federal reserve ain't gotta worry cuz they got unlimited amounts of money. They can just deduct it from all the fees they charge everyone else or just print more money since they control the printer. So now they got a bunch of these loans out on these NFTs and people are being forced to sell ETH and everything else they can in their portfolios to pay them. Even with no interest rate decision, or CPI numbers, or any other government associated news, there always is the chance for some fukkery.

 

[mannyrs13]

Watch the same thing happen to ETH where the 20EMA goes back under the 100EMA and it rides down that dotted line before going back down again. Might see the red line before end of month. It has until beginning of October to touch the blue line before that crosses over 0.
The merge may help avoid that. Possibly be under that red line to end the month. Won't be surprised at under 1200 or even 1100. Options expire next Friday so they'll definitely try to bring prices down to have the Puts go thru. Definitely may have to scoop some if it drops real low. Unless btc drops to under 10k and I can grab an entire 1. May have to ride the waves if I see a swing up.

 

[Virtuous_Brotha]

This august pump was just purely speculative, next month there will be some tangible fundamentals with eth (allegedly chainlink too) which should give us a decent final quarter of 2022.

 

[Slimkid07]

Whoa price alerts flying in

Yea, he's happy.

Crazy how these whales can just pull the switch like this.
The past couple of weeks has seen BTC rocket or hammer down $1k in a matter of minutes.

 

[mannyrs13]

Might take some work to get some trust back in the market especially after all the scams, rug pulls, liquidations, price dumps and everything else that has occurred so far this year. Not to mention all the projects not really progressing. Even those that are or seem to be. I look at these dips or possibly even further dips and I'm like, what if it stabilizes down there and there's no chance to make profits, or it ranges so much that trading in and out isn't really worth it. Overall sentiment seems down. Even worse is these nft projects in an oversaturated market full of to the moon shillers and no purpose other than a piece of artwork. And since anyone can create an nft project, you got a bunch of newbies unfamiliar with things that think it's just about creating some art and then the project flops. It's discouraging looking to chase the dips cuz there's always some fukkery brewing around the corner.

 

[JJ Lions]

Might take some work to get some trust back in the market especially after all the scams, rug pulls, liquidations, price dumps and everything else that has occurred so far this year. Not to mention all the projects not really progressing. Even those that are or seem to be. I look at these dips or possibly even further dips and I'm like, what if it stabilizes down there and there's no chance to make profits, or it ranges so much that trading in and out isn't really worth it. Overall sentiment seems down. Even worse is these nft projects in an oversaturated market full of to the moon shillers and no purpose other than a piece of artwork. And since anyone can create an nft project, you got a bunch of newbies unfamiliar with things that think it's just about creating some art and then the project flops. It's discouraging looking to chase the dips cuz there's always some fukkery brewing around the corner.

Just watched this for some other reasons:

Collapse of China property markets
FED - expects inflation to stay high for a long time, Unemployment going up
Europe inflation issues, some double digit
Europe energy crisis possibly this Winter because of Russia situation
Canada buy limit, what I posted earlier
BAYC liquidations
Crypto lenders stopping withdrawals, another one in South Korea Holdnaut
Something about Cardano Vasil hard fork, see tweet below

 

[mannyrs13]

Ooze dropped to the price level I was looking at. It was around 3.60 when I first noticed it this past Saturday evening and with a downward trend, was highly likely to keep dipping. I'm questioning whether or not that may be the support. It could dip lower to that 2.25 range like before. Right now I have enough USDC for 178. But I feel it's not worth risking it all just in case. Might just have to try and layer it if hopefully it gets to that. Buy 50 now, then if it drops to 2.75 or anywhere under 3, try to get another 75, then if it drops again to 2.25 or under 2.50 hopefully have enough for another 100. Just whatever I have now on USDC without converting anymore FTM. Compound whether it goes up or down. Plus I can hopefully grow from 1% to 2% a day and 8x to 12x my investment with consistent compounding. Goal is to try and hit 10 per day by end of year. Gotta try and hit that max wallet tho.

 

[mannyrs13]

Looking like 21k might not hold on the daily.

 

[FaTaL]

looks like the crypto dump is on

 

[The Observer]

 

[null]

Cap is 100k coins.

is that per-person or per-wallet?