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- - Crypto Blowing Up
( https://www.aspkin.com/forums/cryptocurrency/126169-crypto-blowing-up.html)
| yankee | 07-19-2022 09:50 AM |
Re: Crypto Blowing Up
Higher interest rates are saving banks. It is confidence in the strong dollar(compared to most all other currencies). Basically USA is the best turd in the bowl at the moment.
BUT I don't expect it to last. But who knows.... |
| JamesNorth101 | 07-19-2022 09:51 AM |
Re: Crypto Blowing Up
Just 78 posts to go Sloker! |
| slokor | 07-19-2022 10:53 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by yankee
(Post 1197488)
Higher interest rates are saving banks. It is confidence in the strong dollar(compared to most all other currencies). Basically USA is the best turd in the bowl at the moment.
BUT I don't expect it to last. But who knows....
| Not sure how that helps the markets. The risk of recession is so high right now as a result of these rate hikes I simply dont understand the current market behavior... |
| SaiJin | 07-19-2022 11:13 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by slokor
(Post 1197487)
Dont know what to make of the markets any more...
In the last week since the worst inflation figures in over 40 years were released last Wednesday which were quite a bit worse than expected (9.1% vs the expected 8.8%) Im only seeing the markets go up - and the crypto currencies leading the charge by dozens of percent increased. Now Im reading some so called 'experts' saying this rally could persist because 'the fear of fed interest hikes have eased'. I was under the impression that given the inflation figures from last week a full 100 basis point interest rate increase was now on the table - so what exactly eased here?
Maybe one of the experts (nate?) can pipe in and explain to me what in the hell is up with that? Trying to wrap my head around it and just not getting it.
| Right... I was wondering the same just not very good at putting things to word like this.
I thought that it'll go below 18k but it went up to 22K instead. and ETH went from 0.8 to 1.5 .
I have a payment coming in and I can either take it in BTC or Cash so I'm not sure what to do right now. |
| SaiJin | 07-19-2022 11:33 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by slokor
(Post 1197492)
Not sure how that helps the markets. The risk of recession is so high right now as a result of these rate hikes I simply dont understand the current market behavior...
| I don't have a big picture in my head about the current economic situation
but talking to my realtors , housing market is shifting to buyers favor again.
More houses becoming available but the number of buyers that want to pay over asking has dropped and he said in 1 year most likely it'll be total buyer's market.
But then again as a consumer I don't want to spend... I want to save $$
so perhaps people's sentiment of not wanting to spend due to fear is driving prices down? |
| slokor | 07-19-2022 11:33 AM |
Re: Crypto Blowing Up
I myself am still betting on a crypto crash. There is no way this rally is sustainable given the macro conditions of the markets. A recession IS coming and there is no way to escape it. I believe those pumping money into crypto right now are going to lose a lot of it. Might take days, might take weeks or might take months. At the latest I believe itll be by the end of the year.
But thats just me.
What I dont get is this sudden optimism in the face of a total oncoming economic trainwreck that youd have to be blind not to see heading our way.
In case you didnt get what Im hinting at - id be taking that in cash myself - BUT - you need to do what YOU think is right cause for all I know I could be way off... |
| SaiJin | 07-19-2022 11:55 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by slokor
(Post 1197502)
I myself am still betting on a crypto crash. There is no way this rally is sustainable given the macro conditions of the markets. A recession IS coming and there is no way to escape it. I believe those pumping money into crypto right now are going to lose a lot of it. Might take days, might take weeks or might take months. At the latest I believe itll be by the end of the year.
But thats just me.
What I dont get is this sudden optimism in the face of a total oncoming economic trainwreck that youd have to be blind not to see heading our way.
In case you didnt get what Im hinting at - id be taking that in cash myself - BUT - you need to do what YOU think is right cause for all I know I could be way off...
| Aren't we ALREADY in a recession? |
| slokor | 07-19-2022 11:59 AM |
Re: Crypto Blowing Up
Good question.
Apparently the answer is no. Technically speaking at least.
The recession is supposed to hit us by Q4 of this year or Q1 of 2023.
And yet with everybody talking about this oncoming recession, the 100 basis point rate hike (with more coming later this year) and countless other signs of economic instability the markets are acting like all is well and theres no reason for concern. Especially the crypto markets being up the way they are during the last 7 days - and I stress again that just 7 days ago the inflation report gave us a much higher figure than the anticipated high figure - 9.1% which has not been seen for 41 years.
I dont know if the markets are being manipulated or if Im just not seeing something... |
| SaiJin | 07-19-2022 02:53 PM |
Re: Crypto Blowing Up
Well, on a positive note, we can't always go up... as long as we go up majority of the time and be ok during the downs, I'd consider it a correction and a blessing.
I'd think we'll never hit the previous all time low and will always have a higher lowest. |
Re: Crypto Blowing Up
Quote:
Originally Posted by SaiJin
(Post 1197495)
I have a payment coming in and I can either take it in BTC or Cash so I'm not sure what to do right now.
| Take it in cash if you have stuff to get - if you want to remain long and speculative, take it in BTC and hold |
Re: Crypto Blowing Up
given the current economic climate and the fact that a recession as many do say is inevitable. what would you say the best investment is currently. It seems money in stock and crypto is a bad idea, money in the bank is also a bad idea, and buying property right now, could be bad, given the fact that property prices may drop massively in the coming 1-3 years.
im betting on, keeping cash to buy property once the market dips. whats your thoughts? |
| SaiJin | 07-21-2022 10:32 AM |
Re: Crypto Blowing Up
I believe right now money is king... Yankee likes gold. |
| yankee | 07-21-2022 12:17 PM |
Re: Crypto Blowing Up
Quote:
Originally Posted by josh
(Post 1197586)
given the current economic climate and the fact that a recession as many do say is inevitable. what would you say the best investment is currently. It seems money in stock and crypto is a bad idea, money in the bank is also a bad idea, and buying property right now, could be bad, given the fact that property prices may drop massively in the coming 1-3 years.
im betting on, keeping cash to buy property once the market dips. whats your thoughts?
| Cash! Recession proof inventory in masses and short term high profit flips. If you have a lot of cash sitting around, gold and silver should do really well the next few years and easy to cash out.
I am redirecting my factory into heavy recession items and consumables in my outdoor nitch is always a staple.
We have moved everything of debt into the business side to assure we have 800+ credit scores and impeccable debt to income ratio to be able to capitalize on the inevitable housing crash(already have cities down 40%) |
| SaiJin | 07-21-2022 11:00 PM |
Re: Crypto Blowing Up
Quote:
Originally Posted by yankee
(Post 1197613)
Cash! Recession proof inventory in masses and short term high profit flips. If you have a lot of cash sitting around, gold and silver should do really well the next few years and easy to cash out.
I am redirecting my factory into heavy recession items and consumables in my outdoor nitch is always a staple.
We have moved everything of debt into the business side to assure we have 800+ credit scores and impeccable debt to income ratio to be able to capitalize on the inevitable housing crash(already have cities down 40%)
| You got gold bars and silver? |
| yankee | 07-21-2022 11:50 PM |
Re: Crypto Blowing Up
Quote:
Originally Posted by SaiJin
(Post 1197633)
You got gold bars and silver?
| Yes. 10 ounce silver bars an 1 ounce gold. Very easy to sell for cash if needed and pretty much tax free. |
| james_112233 | 07-22-2022 05:25 AM |
Re: Crypto Blowing Up
Im still holding after buying the top.
But i'm also swing trading now. So far I haven't been locked in to a trade yet as long as you don't get greedy and just walk away with small profits everytime it seems to eventually exceed my "buying" price within a week or two max. Looks like i'll be doing that throughout the bear market until we're back on a bullrun again. If I do unfortunately get locked in again because of a significant drop ... then i'll buy more ! |
Re: Crypto Blowing Up
Quote:
Originally Posted by yankee
(Post 1197613)
Cash! Recession proof inventory in masses and short term high profit flips. If you have a lot of cash sitting around, gold and silver should do really well the next few years and easy to cash out.
I am redirecting my factory into heavy recession items and consumables in my outdoor nitch is always a staple.
We have moved everything of debt into the business side to assure we have 800+ credit scores and impeccable debt to income ratio to be able to capitalize on the inevitable housing crash(already have cities down 40%)
| wow 40% down in some cities already? we have not seen any drop in pricing as of yet
its still going strong, but you can feel something in the air that it will go pop soon. maybe not though |
| Luminary | 07-23-2022 09:48 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by yankee
(Post 1197636)
Yes. 10 ounce silver bars an 1 ounce gold. Very easy to sell for cash if needed and pretty much tax free.
| Where do you guys purchase your gold? |
| yankee | 07-23-2022 10:22 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by josh
(Post 1197661)
wow 40% down in some cities already? we have not seen any drop in pricing as of yet
its still going strong, but you can feel something in the air that it will go pop soon. maybe not though
| Did you guys get your very first rate hike this month? We are into 6 months of it already. The cities that have 20-40% correction are the ones that doubles in cost in two years. It needs to go down 50% to be at 2019 prices. |
| yankee | 07-23-2022 10:23 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by Luminary
(Post 1197726)
Where do you guys purchase your gold?
| Sometimes I buy silver bars on ebay. Everyone in a while gold. Mostly small brokers for big firms. I literally call a buddies cell phone and he gets it out the door within a week. |
| GreenBean | 07-24-2022 07:41 AM |
Re: Crypto Blowing Up
Quote:
Originally Posted by SaiJin
(Post 1197633)
You got gold bars and silver?
| I have silver Kookaburras as door stops. (Thank you.)
The Perth Mint here in Australia is great to use. Been using them for years without drama.
I get gold in different size bars. Been more difficult this year though.
:comp5: |
| yankee | 07-29-2022 07:28 AM |
Re: Crypto Blowing Up
Someone with thick skin could be making a hefty profit day trading the past two weeks.
We are at a stage where ALL news is twisted to be good news with our central banks and governents!
Hey we are officially in a recession by our definition, BUT lets pretend it isnt a recession because the numbers are better than we expected! Hey, the bank earnings are 50% down from year to date :( BUT that is GREAT NEWS! because we saved the banks profit bottom line with higher interest rates and it is way better than expected, Lets Rally! haha
Come September-November is when I expect the real rests to start stacking up BUT who the heck knows right? "They" manipulate everything! |
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