Crypto Blowing Up

agent006140 · #**1453** 06-15-2022

Quote:

Originally Posted by Gill789

At this point I'm just bag holding;(, but what are some of the main reasons of the tank in the crypto market. After btc/eth hit a ath it never retested or came close to the price again, just a continuous fall?

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.

agent006140 · #**1454** 06-15-2022

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

yankee · #**1455** 06-15-2022

Quote:

Originally Posted by agent006140

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

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.

yankee · #**1456** 06-15-2022

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.

yankee · #**1457** 06-15-2022

Quote:

Originally Posted by SaiJin

Ya'll think it'll drop below 20K ?

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.

agent006140 · #**1458** 06-15-2022

$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

Luminary · #**1459** 06-15-2022

Quote:

Originally Posted by agent006140

$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

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

glacier922 · #**1460** 06-16-2022

Smh, bitcoin looks like it's done

Luminary · #**1461** 06-16-2022

Quote:

Originally Posted by glacier922

Smh, bitcoin looks like it's done

Far from done. Look at the whole market.

**SaiJin** · #**1462** 06-16-2022

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

Luminary · #**1463** 06-16-2022

Quote:

Originally Posted by SaiJin

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

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

rsot · #**1464** 06-17-2022

Quote:

Originally Posted by Luminary

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

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

**SaiJin** · #**1465** 06-17-2022

Quote:

Originally Posted by Luminary

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

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

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

rsot · #**1466** 06-18-2022

Quote:

Originally Posted by SaiJin

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

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

yankee · #**1467** 06-18-2022

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

slokor · #**1468** 06-18-2022

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)

**SaiJin** · #**1469** 06-18-2022

Quote:

Originally Posted by yankee

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

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

yankee · #**1470** 06-18-2022

Quote:

Originally Posted by SaiJin

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

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.

yankee · #**1471** 06-18-2022

Quote:

Originally Posted by slokor

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)

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

slokor · #**1472** 06-18-2022

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.

Luminary · #**1473** 06-18-2022

Quote:

Originally Posted by slokor

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.

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

yankee · #**1474** 06-19-2022

Quote:

Originally Posted by slokor

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.

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