925: BITCOIN SPIKES TO $140K (UST) AS CRYPTO MARKET CRASHES WITH LUNA FALLING BELOW $2!!
Bitcoin News Alerts | Daily BTC Macro Signal
Bitcoin News Alerts
3.8 • 635 Ratings
🗓️ 11 May 2022
⏱️ 18 minutes
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Summary
Panic appeared to set in on crypto markets overnight on May 11th as Blockchain protocol Terra failed to steady its bleeding crypto assets, with LUNA crashing another 90%+ for the day, now trading below $2.
As a result of the massive Terra/LUNA sell-off, Bitcoin price skyrocketed to a dubious new all time high of $140,000 in $UST as a result, while the king cryptocurrency is currently holding on to $30,000 support.
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Transcript
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| 0:00.0 | In today's show, Terra's rescue plan is still at large as Luna falls below $5 and Bitcoin spikes to $138,000 in UST. |
| 0:08.9 | That's right. Bitcoin finally crossed that $100,000 mark as shared in this chart. |
| 0:13.6 | In fact, it hit 140,000 UST on Ku Coin. |
| 0:17.6 | And as shared here, shout out to Luna for creating thousands of new Bitcoin maximalists who sadly learned the hard way. And as shared here, shout out to Luna for creating thousands a new Bitcoin maximalists |
| 0:21.9 | who sadly learned the hard way. And as shared here, there is a rumor spreading about Jump, |
| 0:26.8 | Alameda, et cetera, providing another $2 billion to bail out UST. Whether this rumor is true or not, |
| 0:32.2 | it makes perfect sense for them to spread. The biggest question here is, even if they can get |
| 0:36.4 | it to a dollar by some miracle, |
| 0:38.0 | the trust is irreversibly gone. Now check this out. Bitcoin yearly lows in 2012. It was four |
| 0:43.3 | bucks. In 2020, $3,800 in last year in 2021, $28,700. Zoom out. Now for an important reminder |
| 0:51.6 | to take all of your crypto off the exchanges, because if the exchange |
| 0:55.5 | fails, they are owned by the creditors of the exchange. Also, if you happen to pass, the crypto does not |
| 1:01.1 | go to your family whatsoever. So be sure to take all your crypto off the exchanges or forever. |
| 1:06.5 | Hold your peace. And as Robert Kiyosaki shares here, question, why will Bitcoin win? |
| 1:12.1 | Answer, Bitcoin will win because America is led by the three stooges. Stoge number one, President Biden. Stoge number two, |
| 1:18.4 | Secretary of Treasury, Janet Yellen, and Stoge number three, Fed Chairman Jerome Powell. I trust Bitcoin, |
| 1:24.5 | not the three stooges. Also in today's show, as Michael Strategy's stock slumps, |
| 1:29.0 | Michael Saylor remains confident, Bitcoin Holdens will cover a potential margin call on Bitcoin-backed loans. |
| 1:34.3 | As he shares here, Michael Strategy has a $205 million term loan and needs to maintain $410 million as collateral. |
| 1:40.6 | Michael Strategy has 115,109 BTC that it can pledge. If the price of Bitcoin falls below |
| 1:46.6 | $3,562, the company can post some other collateral. Also in today's show, after Terra-UST |
| 1:52.3 | Depegging, macro guru Rao Powell, so stablecoin regulation could be coming. Quoting him here, |
... |
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