On Telsa call: "Bitcoin seemed and so far proved to be good decision to store cash that wasn't immediately used for daily operations and get some good return on that. There is a lot of reasons to be optimistic here and we are certainly watching closely here."
"We have been quite pleased with how much liquidity there is in Bitcoin market. When we did the sale in later March, we also executed quickly. Being able to get cash out is exceptionally important."
"We do believe long term in value of Bitcoin and will continue to accumulate Bitcoin from customers paying for cars"
This is not directly true. What was said is: "So we do believe long-term in the value of Bitcoin, so it is our intent to hold what we have long-term and continue to accumulate Bitcoin from transactions from our customers as they purchase vehicles."
Damn so I finally made myself download TikTok and check some of the most liked videos with crypto tags and it's so much fucking worse than I could have even imagined. I feel like I need to disinfect my eyes. So many of them have 100k+ likes
I think this one takes the cake. Absolute trash cash grab ICO and the dude “confuses” payment methods to buy tokens with companies investing in the project. “Visa and Metamask are investors”
Also look at this 10yr old making $1k a day from options and crypto
For those freaking out about hashrate, this is how it actually looks like. All the doomsday estimations that it's down 50% because that's what hashrate estimators say. The drop is closer to ~15-20% and caused by the North-West blackouts in China
Regardless of what it is, this is a temporary decline while miners can't really do anything if they're not getting electricity. On top of that, hydro season starts in late May and will get significantly cheaper. No reason to panic
Ran some quick numbers on the actual HR drop and currently looks like about 20%. Largest drop happened from April 15 to April 16. Poolin is getting hit the largest - losing about 36%
For those looking for some explanation, corrections are natural after massive run ups. Weekends with low liquidity are perfect, some dumb catalyst to spook traders off and down we go. Markets were bid up for Coinbase and that ended up disappointing as well. Not surprising
The best advice in this market is to stop looking for reasons and always be ready for large 20% down moves that have always happened. Stop massively overleveraging and you're gonna be fine homies. Hashrate has nothing to do with these, just market exhaustion