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Re: Crypto Blowing Up
 

Inflation in May is 8.6% which spooks the financial markets,as Fed could raise rate 75 basis points (not 50 ) and will continue to raise 75 basis points every time they meet.
Consumers will pay more for their mortgage,fuel,grocery,some have already lost their jobs ,and some will soon lose theirs ,Robinhood,Coinbase have all announced layoffs.
Gold may not be the best investment when US dollar is getting stronger with rise of interest rate,park your money in money market fund for the time being OR buy stocks of companies which are financially strong,sell products/services we need and pay a decent dividend.
Companies involved in exploring,producing,refining,transporting natural gas and oil are better candidates for your money instead of gold,as Europe and Asia would need them.

Re: Crypto Blowing Up
 

Gold has to compete with US treasury instruments,it does not pay a dividend.

Re: Crypto Blowing Up
 

Well.... Check what happened 1-2 years into every single recession in the US history with gold and SILVER.

The markets dropped 20-30 and even 50 and 80% and gold dropped a couple percent. If you had your money on gold in the past ten years, you beat the market by a long shot. If you held gold this year, you beat the market by a minimum of 30%

If you want something that stores a value and almost certainly will increase in value in the next few years, Gold is it. Bonds and treasuries are junk. NEVER buy them. The wont even keep up with 50% of inflation on a great year. NEVER buy them.

Re: Crypto Blowing Up
 

Gold and silver will continue to drop some. Great time to start buying IF you have extra money and want to add to your savings. If you dont have a lot of extra money, buying food, fuel, tampons(yes they are going up in price and in short supply), etc is a much better investment IMO.

Re: Crypto Blowing Up
 

Getting close and the really bad news hasn't even broke yet. These events are going to cause the government to get involved. Many many many people are loosing their lives savings.

Re: Crypto Blowing Up
 

$18,000 is in sight
at 1 pm eastern time,Fed will tell us whether it is going to raise rate by 50 basis points or 75 BASIS points

Re: Crypto Blowing Up
 

It's 75 now.
Btc is climbing but it'll probably crash again.

Re: Crypto Blowing Up
 

Smh, bitcoin looks like it's done

Re: Crypto Blowing Up
 

Far from done. Look at the whole market.

Re: Crypto Blowing Up
 

So you both believe BTC will die.... correct?

Re: Crypto Blowing Up
 

Not me. I'm continuing to buy the lows as I believe in BTC long term.

Re: Crypto Blowing Up
 

Longterm approach - risk only what you are willing to wait upon

Re: Crypto Blowing Up
 

Same.... I really hope it'll crash to low 10s ...

GOsh I really wished I cashed out during ATH then reused the funds .

Re: Crypto Blowing Up
 

You're not the only one that's for sure

Re: Crypto Blowing Up
 

Broke well below 20k. Seems the bottom resistance is 12k. Im buy a few coins through a self directed IRS in the next weeks.

Re: Crypto Blowing Up
 

Sold most of my holdings when BTC was at 32.2k.
Pretty sure ill be able to double my BTC holdings.
WINTER IS COMING! (and Im loving it)

Re: Crypto Blowing Up
 

18.8 now... where did you see bottom is 12?

Re: Crypto Blowing Up
 

My guess based on analysis and data. Im not a believer so I solely go by data. Looks like it could bottom at 12k. I think as long as you dont need the money for years to come, anything under 20k is safe.

Short term, silver wins. 4 years, I believe BTC and ETH might have it. Ten years, I would bet on crypto but I dont do this for a living and I truly believe food is he best short term investment you can make right now plus you need it anyways

Of course, business is my only real investment. This other crap is saving for business tax write offs. Maybe Silver and BTC/ETH has a life changing impact this round! I am willing to be on it! BUT not with money that makes me money.

Keep in mind that the really bad news for Crypto hasn't broke yet and we still have Tether bomb that nearly certainly will explode. Most of these exchanges legally will be stealing peoples money as they file bankruptcy. All in All, I think it will make BTC and ETH shine but scare off many retail buyers for a long time.

Re: Crypto Blowing Up
 

Kudos!
I love to hear people took a profit or at least cut losses.

Re: Crypto Blowing Up
 

Yankee - so if USDT is not safe to deal with which stablecoin would you pick? Whats your thinking of USDC? BUSD?
And your evaluation of exchanges - does that include Binance? cause they weathered the last crypto winter pretty well.

Re: Crypto Blowing Up
 

USDC is good. Personally, I got some DAI as well.

Re: Crypto Blowing Up
 

I never said all. I said these problems is what is causing the losses. Of course not all exchanges are going to go bust but you have several that are causing the crash. Was yesterday the bottom this year? I very much doubt it. But I do feel it was a safe time to buy :) It very much seems that Central Banks are crashing and declaring war of Crypto as they roll out their new currencies. Your country is in begging states of rollout. Federal reserve says dollar is gone by 2024. China did it years ago