CRYPTOCARNAGE – Bitcoin crashes below 10,000, Ripple down 50%!!!!!

by John Galt
January 16, 2017 17:45 ET

Uh, um, yup.

At least the new kid on the block with the super-duper ultra blockchain is still rocking it, right?

What a nightmare.

This is what happens when fiat money chases imaginary crypto fiat money and a crash occurs. The exits are not big enough, there is not enough liquidity, and panic ensues. If it doesn’t, well, all I can say is the exit was obvious at $17,000 and now you’ll be lucky to catch a bid, if there is such a thing, at $7,000. Ripple, aka, Ripanewhole, you might get $0.10 on the dollar, again, if you can figure out a way to get a bid.

Pop goes the weasel baby. I hope the DJIA/S&P masters of the universe are paying attention because they are in just as precarious a position as the Geek Squad investors.

UPDATE – 1750 ET:

5 minutes after I post this, BTC has bounced over 11,000 and XRP over 1.05. I guess they got Mortimer back in there to SELL, SELL, SELL!

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