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Home Crypto

Could Netflix Tumble Down The Crypto Market?

Admin by Admin
April 20, 2022
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On Tuesday, the crypto market looks better than Netflix (NFLX). Shares of the world's leading streaming company fell 27% to $ 256 in after-hours trading after reaching the level of 2019 after announcing massive losses of 200,000 subscribers in the first quarter of 2022. That translates into a loss of about $ 40 billion in half an hour

The company lost customers for the first time since 2011 and expects to lose another 2 million in the current second quarter. The NFLX is already 63% lower than its all-time high and up 40% this year.

“For those who are wondering how long such a miss can sting: this is a reminder $ FB Bloomberg Brian Chapatta Note.

Michael Nathanson, an analyst at MoffettNathanson LLC, told Bloomberg that “it's just shocking,” adding that “a quarter of what they've done for the last five years has been left out – it's a word of mouth.”

What will crypto follow?

The news site further reported that “Disney has declined 5.2% in extended trading since Netflix's Outlook was reported, while Warner Bros. Discovery Inc., owner of HBO Max, has declined 2.8%. Shares of Roku Inc., the maker of the set-top box for streaming, fell 8.3%. “

Many are wondering if it could even pull the crypto market. An economist mentioned The last time Netflix (January 22, 2022) had such a sharp shed, “it triggered [an over] 30% 4-day crashes across crypto However, he added that he did not think it would be a problem this time. “It's an ideological phenomenon now.”

The value of the global cryptocurrency market has evaporated to $ 1.4 trillion since January 22, 2022

Many do not think this scenario is likely to recur because the previous event was related to the macroeconomics – the general stock market sell-off for fear of rising interest rates in the United States, while this time the index seems to be specific to the company's declining demand.

Related Reading | With Bitcoin hitting tech stocks below k 38k, the epidemic gains have disappeared

In January, the company acknowledged that competition was “affecting some marginal growth.” Now, in addition to growing competition, they say poor performance in Q1 has been partly due to a large number of customers sharing their passwords, with an estimated 100 million households using the technically free service.

They also point to macro factors, including “slower economic growth, rising inflation, geopolitical developments such as the Russian invasion of Ukraine, and some persistent disruptions from Kovid.”

Netflix completely missed their forecast of 2.5 million increase in subscriptions and Wall Street estimates, which they expected to add more users in the first quarter of 2022.

In contrast, the anti-crypto propaganda that calls it “too volatile” and “too risky”, claiming that investors need protection from it, is looking weak and pale today.

Recent News:

Stock traders realize that technology can drop as fast as possible # Crypto To be able to.

My condolences, Netflix investors. NFLX

– Michael van de Pope (@CryptoMichNL) April 19, 2022

Around January 27, after the first major Netflix merger of the year, Bill Ackman reported that his hedge fund had bought more than 3.1 million shares of the company. That's his pThe position is currently below 387.5M.

Related Reading | The majority of crypto holders will be through 80% of crashes, a new study shows

“Someone always knows”

The second big thing about the contrast with crypto is that the industry is often called a fraud scheme, but to some analysts, this NFLX scenario is a sign of internal trade.

Twitter account unusual whale Noticed That “tHe was the most active hot chain before it closed NFLX With 300. “And the trades upstairs were all bearish.” This means that traders with put options probably made a lot of money. It sounds like they knew something was going to happen.

Pictures

Similarly, the account also states that “One businessman took a huge amount of money NFLX Stay, bought + 100k at $ $ 2 7 days ago. The position had 4500 volumes that day, 41 volumes the day before, will expire in one month. Probably 1000%. “

Crypto
The total market cap value of crypto on the daily chart is 1.8 trillion Source: TradingView.com





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