Economic collapse
Whether it was just an isolated incidental or it was the beginning Great Crash? The massacre we witnessed on Friday was breathtaking. The biggest one-day scandal in manufacture past cryptocurrency accompanied by a technological bloodbath of epic proportions. Many investors who were highly leveraged were absolutely stunned. In particular, successive waves of forced liquidation caused a cascading cryptocurrency crash that did not match anything we had always seen. Around $19.2 billion in leveraged positions were abruptly liquidated, resulting in the full value of all cryptocurrency falling by nearly $800 billion In just 24 hours...
The cryptocurrency marketplace has suffered a massive erasure, erasing nearly $800 billion in value in 24 hours. About $19.2 billion in leveraged positions was eliminated erstwhile panic spread on the stock exchanges.
Bitcoin fell to $110,951 which means a decrease of 16%, while Ethereum fell to $3 795, which means a decrease of over 12%. The full marketplace capitalization of cryptocurrency fell to $3.69 trillion, which is the strongest one-day decline in months. Altcoins They suffered even more. XRP dropped by 25% to $2.34, and Dogecoin 28% to 0.18. Solana fell to $177, Cardano fell by over 25% and BNB lost value, trading close $1,122.
It was fundamentally a 1929 event for cryptocurrency.
I want he was overreacting, but I'm not overreacting.
Some little Known Tokens lost almost all their worth.
This is what happens erstwhile people borrow immense amounts of money and put it on "certain things" that they think will never fall.
How well described Ash Crypto, what we fundamentally witnessed was a "chain reaction in a highly leveraged game of musical chairs"...
We have witnessed the biggest collapse in cryptocurrency history, in which $19.2 billion has been liquidated and around $800 billion of values have been erased worldwide.
Altcoins were most affected, many of which fell by 50% or more in just a fewer hours.
Prices of any tokens specified as IOTX on Binance, even briefly fell to zero due to chaos.
But what precisely started this crash?
Simply put, think of it as a chain reaction in a highly leveted game of musical chairs.
When music stops, many players are forced to leave the game, making the situation worse for everyone.
Many people who believed they were very rich on Thursday now collect pieces.
But seemingly 1 cryptocurrency whale knew in advanceThe crash is coming...
It's very suspicious.
Let's hope the authorities look into it.
Also on Friday, the largest American technology companies lost together $770 billion marketplace capitalization...
Amazon, Nvidia and Tesla's stock fell by about 5% on Friday, as technology companies lost $770 billion in marketplace capitalization after president Donald Trump's threats to increase tariffs on Chinese goods.
As technology companies with a trillion dollar value occupy more and more of the American market, their declines have caused Nasdaq fell by 3.6% and S&P 500 by 2.7%.
When you add the losses on the cryptocurrency marketplace to the losses on the stock market, you will receive a full sum that is well over $1 trillion.
Ouch.
The main reason why financial markets are shaken is the shocking fresh developments in the trade war between the United States and China...
On Thursday, the Chinese Ministry of Commerce reported that as of 1 December abroad companies will gotta have a licence to export products containing more than 0.1% of uncommon earth elements from China or manufactured utilizing Chinese production technology.
This prompted president Donald Trump to announce on Friday that he would impose an additional 100% work on China and limit software exports from the US. But although it seemed to be the latest exchange of blows in the U.S.-China trade war, the stakes are much higher.
Like I said, At the end of last weekThe case is highly serious.
Over the years, the Chinese have worked tirelessly to dominate the planet marketplace for uncommon earth metals, and now they have the chance to "prohibiting any country on Earth to participate in the modern economy"...
"We should not miss the fundamental issue of uncommon earth metals: China has created a policy that gives them the right to prohibit any country on Earth from participating in a modern economy," he wrote on Saturday Dean Ballwho served as elder advisor at the discipline and Technology Policy Office The White House At the beginning of this year.
"They can do this due to the fact that they conscientiously built an industrial possible that no 1 else had the courage to build. They were willing to tolerate costs—financial, environmental and other—to do so. Now the remainder of the planet must do the same."
China has strict control over uncommon earth metals, producing more than 90% of the world's processed uncommon earth metals and uncommon earth magnets. They are utilized in various industries, from technology sector to car manufacturers and defence service providers.
While we were playing checkers, the Chinese were playing chess.
And so we are now in a planet full of pain.
On Sunday the president TrumpHe tried to calm us down.That everything would be fine.
But the Chinese are not retreating.
They are angry about sanctions and port charges imposed by United States and inform that they are ready to introduce even more "remedies"...
Donald Trump's last threat that he would impose an additional 100 percent work on Chinese goods is "a typical example of US double standards," the Chinese government stated.
A spokesperson for the Ministry of Commerce besides said that China could introduce its own indeterminate "remedies" if the president of the United States fulfilled his threat, adding that they "are not afraid" of a possible trade war.
We're in far more problem than most people realize.
This could truly be a crisis that will push the financial markets to the brink.
The Hossa on the stock exchange we witnessed earlier this year was driven by artificial intelligence, and the fact is that artificial intelligence has now become the largest financial bubble of all time. OpenAI This is just 1 example of how absurd It's happened. That AI bubble...
Fast forward, and OpenAI now has contracts to build 16 gigawatts of data centers. Based on Wall Street estimates, they will likely cost around $750 billion.
OpenAI besides committed to acquisition cloud computing services worth $300 billion from Oracle in the next 5 years. In total, OpenAI now has about $1 trillion in expenses.
OpenAI can be the hottest start-up of all time – and there is simply a long queue of investors who want to support it – but a trillion dollars is, speaking succinctly, madness. This is about 3.4% of U.S. gross home product in 2024 and about a 4th of all private non-residential investments.
All this due to a start-up that inactive has large and increasing losses. I'm a large supporter of artificial intelligence, but I inactive believe in math. And the numbers don't match.
Do you remember how bad it was erstwhile the net bubble broke?
Well, it's gonna be a lot, much worse.
At this stage, our full financial strategy is fundamentally a gigantic, unsustainable Ponzi strategy and no 1 will be able to defend it. before the full fall.
For many cryptocurrency investors it is besides late to get out in time.
However, most another investors inactive have an exit window before there is simply a crazy rush to exit, but this chance window will not stay open for long.
https://theeconomiclopseblog.com/historic-financial-carnage-more-than-a-trillion-dollars-in-market-value-was-just-wiped-out-in-a-24-hour-period/
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