Re: On May 12, BTC was at $12M (sell order) to reach a value of 0$
ALMOST "reach a value of 0$" for a millisecond on a single exchange that crashed during massive spam of trades. So what? Does that change anything for you how low flash-crash went? It's only flash crash. Currently, SP500 is -17% from before covid panic sell - btc is -25%!
SP500 is a index of 500 biggest US stocks, was prevented from drops by circuit breakouts (at least 20), helped by helicopter money. BTC was on his own.
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"Traditional markets are in circuit breaker mode the majority of time;. They only trade occasionally." - BTC was exposed to panic sell for much longer.
But lets also compare also average volatility. According to that BTC reacted more calmly to panic sell than most assets. Especially stocks.
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Safe-haven saves you during economic crisis. Nothing saves you during market crash. Especially during whole world, all assets massive panic sell caused by pandemic.
Economic crisis is not equal market crash.
Flash-crash is only a flash-crash. Does not mean anything.
SP500 is a index of 500 biggest US stocks, was prevented from drops by circuit breakouts (at least 20), helped by helicopter money. BTC was on his own.
link
"Traditional markets are in circuit breaker mode the majority of time;. They only trade occasionally." - BTC was exposed to panic sell for much longer.
But lets also compare also average volatility. According to that BTC reacted more calmly to panic sell than most assets. Especially stocks.
link
link
Safe-haven saves you during economic crisis. Nothing saves you during market crash. Especially during whole world, all assets massive panic sell caused by pandemic.
Economic crisis is not equal market crash.
Flash-crash is only a flash-crash. Does not mean anything.
ohh yeah.."helped by helicopter money. BTC was on his own." i was expecting the typical propaganda about inflation blablabla ou complain about the FED printing money? hapened the same or worse wiht BTC
Here you got what Tether did short time ago.. from 4.6 to 6.2 Billions (35% up) (SEE PICS). pumping hard BTC with FAKE money.. This is why New York City main legal attorney sued Bitfinex, and there are messages recorded about "we must pump the market" during 2017 as proofs for the case pending in court. Maybe this is also why a friend that was working with the business development of Bitfinex in EU left his job after realizing the company is full of shit and there is no real USD backing it..
Do you know how was pumped BTC during last 3 months from 6.5k to 10k? look at the 50M. spoof orders on bitmex.. Try to do this in any regulated market .. know what would happen? jail
You talk about flash crash? did you saw the price swings? BTC did this.. from 8200$ (7600$ 5600$ 7100$ 5600$ 5700$ 6300$ 4300$ 5700$) until 3600$,.. There is circuit breaker in US stock markets, and it sucks, yeah.. but let me know any single stock from US NYSE that would drop to 0 if you sell $12.5M at market price.
come on man.. prove I am wrong
