Topic: On Mar 12, BTC was at $12M (sell order) to reach a value of 0$ - page 2. (Read 319 times)

We are all aware of what happened last March 12, with bitcoin, which is supposedly uncorrelated to the other markets. It is supposed to be a safe haven in times of crisis (in fact this is what inspired its creation during the 2008 crisis), which was supposed to reach new highs (according to the less optimistic) and 1 Million (those with a good drug dealer with high quality opium). The reality is quite different: the asset fell 65% in a single session, the order book in the exchange with the highest volume (Bitmex), was reduced to almost nothing. With a market sale of 12 million dollars, bitcoin would have reached a value close to 0$. This is no my stupid claim, but about real facts (see pic) and out of discussion. Everyone should think about the safety of his wealth invested in crypto. For me it has become the biggest ponzi in the world, where only the early adopters (first ones who arrived and mined BTC with a game boy) and exchanges (liquidating traders) win. I haven't always been like that. I don't consider myself a pessimist but a realist. I don't marry any currency and I adapt to the circumstances. I used to be a person with illusion and convinced of the future of Bitcoin.  In 2011 I bought my first 100 BTCs for 51 cents (although they were later stolen at MT Gox), in 2018 I sold my girlfriend's car to buy crypto. Things have changed a lot, and still a lot more to come. BTC seems to me inefficient in many aspects, and with the arrival of STOs, crypto fiat, etc... things will get very, very hard, so don't be surprised later.