Cryptocoin Value and Market Trend Discussion

[Bomby569]

Crypto is very weird and unpredictable, but anyways here goes my theories

-Covid is back, some countries already in some kind of lockdown

-Asia is in deep shit, yep, not just China.
SK see here

.
In India there's major power outages and gigantic polution problems see here

and here

-Major problems with labour shortages, supply chain problems, prices of containers sky rocketed

-Inflation problems, especially in the US

-Interest rates are still to low to make putting money in the bank an alternative

-Oil prices and supply issues. Oil is rising, major problems with gas prices in Europe, China and India fighting for gas to replace coal and their brown air problem

so i think crypto will rise, just like gold or silver for example. But you have to be carefull with crypto, every so often there's a major sell off to cash in. I would say we are going in to a major recession. Then again maybe not, it's a weird unpredictable market.

 

[sepheronx]

Crypto market is taking a bit of a dump. But like always, it will be a dump then a climb to higher levels than before.

 

[Chomiq]

In India there's major power outages and gigantic polution problems see here

and here

That's mainly because they are opening up and industry is accelerating. That's why worldwide we see CO2 emissions increase to 2019 levels.

 

[freeagent]

To me it’s not a big deal, I saw a couple of videos that got the gears turning. I momentarily thought hmm.. but between power, and taxes.. not really worth it to me.

 

[Bomby569]

if anybody is following this please warns to buy the dip

 

[Vya Domus]

so i think crypto will rise, just like gold or silver for example.

I see this argument being thrown around very often as of late and it's baffling. A real world wide recession would be catastrophic to crypto, all retail involvement would vanish. The only reason crypto is doing so well is because people still have disposable income, if you lose your job or get a dramatic pay cut buying crypto is going to be the last thing on your list.

That being said I do not think we're heading into a major recession, I am just point out that this logic is horrific and it will bring you to ruin if you follow through in the event of this scenario playing out.

 

[Bomby569]

I see this argument being thrown around very often as of late and it's baffling. A real world wide recession would be catastrophic to crypto, all retail involvement would vanish. The only reason crypto is doing so well is because people still have disposable income, if you lose your job or get a dramatic pay cut buying crypto is going to be the last thing on your list.

That being said I do not think we're heading into a major recession, I am just point out that this logic is horrific and it will bring you to ruin if you follow through in the event of this scenario playing out.

When things get bad people turn to gold or silver because it retains it's own value even if the economy goes down the drain. Crypto value is not tied to the economy as you can easily see.
Whenever there's a recession there's always people with money, people that want to use that money. A Recession is the mother of all dips, if you are lucky to have a job or money during a recession, it's the best time to get rich. Buying houses for a fraction of their value for example is very popular in my country

 

[silentbogo]

I see this argument being thrown around very often as of late and it's baffling. A real world wide recession would be catastrophic to crypto, all retail involvement would vanish.

Exactly. Over time crypto have evolved from "potential cash replacement" to an equivalent of stock market (and became just as confusing).
And we all know how well does stock market during recession.

 

[Bomby569]

Exactly. Over time crypto have evolved from "potential cash replacement" to an equivalent of stock market (and became just as confusing).
And we all know how well does stock market during recession.

there's no earnings reports for crypto, they fell when people want to cash in and rise when they thing it's too low, i can't see the comparison working.

 

[80-watt Hamster]

later in the day.. bitcoin is down 8% and eth down 10%.. lets see how low it will go..

will it break 30K.. i dont think so but it may..

trog

I don't know if you or anyone else caught this, @trog100 , but you were technically wrong on this prediction back in June (it did go below 30K, albeit a month later), but functionally right (bottomed out just below):

Well played. What's your call on the current slide?

 

[sepheronx]

Hmm, should have sold the ETH I currently have in my exchange. At least I would have currency to then buyback at the lows.

 

[MentalAcetylide]

When things get bad people turn to gold or silver because it retains it's own value even if the economy goes down the drain. Crypto value is not tied to the economy as you can easily see.
Whenever there's a recession there's always people with money, people that want to use that money. A Recession is the mother of all dips, if you are lucky to have a job or money during a recession, it's the best time to get rich. Buying houses for a fraction of their value for example is very popular in my country

If things get that bad where people need to turn to precious metals as reliable barter, its game over and would basically be a major wealth redistribution. Given how economies are so intertwined today, if something like that happens, I suspect that it will actually become illegal to hoard or have precious metals for the purpose of bartering since governments around the world will need to confiscate it and use it as a form of backing for some kind of electronic common currency.
Another thing I should point out, you can't eat metal, so having a room full of silver/gold/platinum/palladium bricks only works if there are others who need it more than food.

 

[Vya Domus]

if you are lucky to have a job or money during a recession

It's probably one of the worst times. Again, most people are going to struggle to get by, even if they have a job. It's only those that already had a lot of capital before the recession that can really profit from it, your average guy will get hit mega hard and will end up even poorer by the time it's over.

 

[Bomby569]

It's probably one of the worst times. Again, most people are going to struggle to get by, even if they have a job. It's only those that already had a lot of capital before the recession that can really profit from it, your average guy will get hit mega hard and will end up even poorer by the time it's over.

That's fair and i'm not saying otherwise. But even in a recesion you have people that keep their income (examples: retirees, public employees, good companies or just a lucky person that keeps their job) and things get cheaper.
And the big changes in value for things like crypto aren't done by your average Joe buying a couple dollars worth of it. Large funds like sovereign funds, pension funds, random rich people, etc...

 

[trog100]

I don't know if you or anyone else caught this, @trog100 , but you were technically wrong on this prediction back in June (it did go below 30K, albeit a month later), but functionally right (bottomed out just below):

View attachment 225413

Well played. What's your call on the current slide?

similar but at 60K instead of 30K.. things have just moved up gear.. brief dips slightly below these figures i dont count.. the round figure is the real figure.. its human psychology at work..

i think its deliberate manipulation to flush out over leveraged longs and stop traders getting over confident..

trog

 

[trog100]

thursday evening here in the UK.. bitcoin now at 58K with eth at 4K..

58K may be the bottom but it could go a bit lower.. its hard to say..

it gone lower than i expected it to but i still think its ready to shoot higher and soon..

trog

 

[lexluthermiester]

I would not have predicted the dip this week. Weird.

 

[Bomby569]

I would not have predicted the dip this week. Weird.

what do you mean by that? did you knew something?

anyway still falling

 

[lexluthermiester]

what do you mean by that?

Exactly what I stated.

did you knew something?

No. Otherwise I would have predicted better.

 

[R0H1T]

In India there's major power outages and gigantic polution problems see here

That's greatly exaggerated, we've never had reliable power to begin with.

Yes been this way for at least 20 years now, but with more cars & electricity consumption it's only gotten worse!

 

[trog100]

friday morning.. i could be a bit premature here but i think the bottom was in at 56K and the shake-out is over.. bitcoin now at 57K with eth at 4.1K..

if my thinking is correct i expect a powerful upward swing to kick in soon..

the wales have rattled the tree enough and can now start buying.. he he..

trog

 

[Bomby569]

is this the dip?

 

[sepheronx]

My CRO made massive gains. I bought into it at 0.19 CAD now it's at 0.60~ CAD. Sold some at $0.70.

It was because they bought a stadium.

 

[Metroid]

I still have my btc target since December last year of 79k - 89k for top then crash back to 9.6 to fill that famous cme gap. This is just a shakeoff, it cant be helped anyway, btc is too overbought, so any bad news will create this volatility, anyway, manipulators will take btc up one last time and then crash to hehell.

 

[sepheronx]

I still have my btc target since December last year of 79k - 89k for top then crash back to 9.6 to fill that famous cme gap. This is just a shakeoff, it cant be helped anyway, btc is too overbought, so any bad news will create this volatility, anyway, manipulators will take btc up one last time and then crash to hehell.

you been wrong on every other belief you showed. So why should we believe this one?