JohnB wrote:Equity down by 9%, bitcoin down 70%, I wonder if anyone here is borrowing to buy bitcon?
Not me. Then again I'm not borrowing to buy equities either.
Another thing that I'm not doing is lending my Bitcoin. There are arguments that the current crash is happening because counter party risk is coming home to roost.
One thing John, that will be interesting to look at is how current events influence the global hashrate. As the price falls, the rewards for mining fall. If electricity rises in price, or has a significant price, then you would expect miners to turn off machines to avoid losing money. What will it mean if that doesn't happen?
Bitcoin has been falling in price since December, but the hashrate doesn't seem to be dropping.
https://www.blockchain.com/charts/hash-rateI'm sorry but I can't answer bruncher's question. What is known is that some companies with banking covenants have bitcoin in their treasury. If they breach those covenants then they will have to sell that bitcoin, driving the price down further.
I'm willing to buy at the current price, but only small amounts. If bruncher is right and it drops to $ parity I'll by buying lots.