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Comment by bearjaws | Hacker News Reader

Even with tens (hundreds?) of millions spent advertising on the Superbowl this year, crypto briefly went green, and is now lower than Feb 13th.

I believe every corner of the market has been reached and has either bought in or is not buying.

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Americans by and large aren't able to trade crypto in any meaningful way to impact the markets, unless they are an American institution operating on foreign exchanges. Look at trading volumes by pairs and exchanges. The US occupies a small portion of overall spot trading and is absent in derivatives trading, which is almost all of the crypto markets. It's no wonder superbowl ads have no impact on price.

Interesting. Is that mostly because Americans are subject to laws and regulations non-Americans are not?

Is it mostly because of US anti-money-laundering laws?

Makes total sense if you realize half the players KNOW it's a scam and are just trying to get out before the crash, and thing the Super Bowl ads are a great "shark jumping" indicator.

Perhaps eerily similar to the last time the Super Bowl brought down a major tech craze ...

> erhaps eerily similar to the last time the Super Bowl brought down a major tech craze ...

Which was?

Pets.com sock puppet commercial (and some others in a similar vein)

Preceeded the dot com crash

You can say the same about the S&P 500. Crypto isn’t immune from large world events that create uncertainty.

paypal down -65% since last september, it must be out of suckers to scam /s

Well a lot of that is Putin related.

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