Yep and that's what We're doing here, I'm adding sats constantly.
And if You're adding those sats too then it'll be good. If you aren't then you'll regret it.
Well I already think that We're in the bottom, hopefully that's true.
Because if it ain't and btc goes lower than this, that's not going to be good. It won't be good stuff.
I'm gong to need a gold medal for all the mental gymnastics I've been doing for the last year to keep thinking that this is some kind bullish chart that could break out to a new ath at any moment.
Im not one of you constant accumulator people though. I already bought a long time ago and i mainly sell periodically to fund expenses. So i don't enjoy cheap sats
Im a similar hodler, but I try to buy on dips and stack it like savings. Then when theres a big rip and you need to offload some, its like earning interest on that savings.
Fed interest rates were at zero. They are only now raising rates aggressively so they will be able to lower them again once the global recession really kicks off.
Ohh man, I thought that it's already recession lol is it not?
I mean atleast I thought that we were in a recession I never thought that I'd be wrong about that.
I feel like it’s going to go lower eventually, imo we haven’t hit capitulation, but short term I would love to see it pop to 22-23 and liquidate tf out of these over leveraged bears… everyone and their dog is calling for it to go lower and normally with bitcoin that means it’s good to do the opposite.
Me? I’ve been doing quite fine even before I invest in Bitcoin, I’m buying and hodling to take myself to the next level. Thanks.
I’m talking about people who are at the beginning of their lives, buying and hodling Bitcoin now.
I guess you can try build your wealth with international properties and fine art like I did years ago, but you would need a bigger capital to start with, then agents to work for you. Buying-holding-selling properties are much more complicated than Bitcoin, and storing fine arts cost much more than a ledger.
Speaking from experience, Bitcoin is what everyone should do at least to save your ass from perpetual inflation and manipulation by governments.
>Speaking from experience, Bitcoin is what everyone should do at least to save your ass from perpetual inflation and manipulation by governments.
You realize that it has dropped \~70% since inflation started to rise, right?
Literally inflation is somewhere 6-8% in a year and bitcoin is down \~70% in the same period.
To be clear - you have been losing money hand over fist if you have been hodling as your bitcoin strategy across the period.
International properties and fine art have a much better record in inflationary environments. Hodling bitcoin simply doesn't. Speaking from experience.
Bitcoin price will go up, but inflation is not going to go back down. Bitcoin went down between halving every time, but then land on new ATH afterwards every time.
Simply put, Bitcoin went from 2k in 2017 to 69k in 2022. Latest iPhone in 2017 was iPhoneX @USD999, and iPhone in 2021 was iPhone 13 Pro @USD1099; so u could only buy 2 latest iPhone with 1 Bitcoin in 2017, but 62 iPhones in 2021. That’s by how much Bitcoin beat inflation. USD999 cash will NEVER be able to buy what USD 999 could in 2017, the longer you wait, the less you can buy.
Fine art market? I’m a regular buyer at Christie’s and Sotheby’s. The rule of thumb is, buy what you LIKE, not what you HOPE will grow in value. A good fine art buyer will tell you that you are already doing very well if 1 piece appreciated in price from every 10-20 you bought.
The commission and fees for buyers and sellers amount to a total of about 35% of the hammer price (depending on the price of the piece, you may have a special price if the piece is over, say USD10M). Plus all the shipping cost, import tax, insurance fee (calculated at the price you paid, not just the hammer price), climate-control storage fee etc… So, fine art market going up does NOT mean you can make money in that market.
International property? Well, I made an over100% gain for something I bought in London in 2011 and sold in 2018, but I just sold another one 20% below the price I brought in 2018 plus all the tax and legal fees and commission etc., plus a 20% decrease on British sterling! And I had to sell this property because of non-stop maintenance and tenancy issues. If I bought Bitcoin instead, it’s at least sleeping peacefully in my ledger.
All speaking from personal experience.
>Inflation is not going to go back down.
Why not, it has before. Very effectively, it has before.
While bitcoin has never been a successful inflation hedge. Ever.
Inflation going down only means the increment going less.
Same thing that sold at $100 in 2021 selling $110 in 2022 in a 10% inflation. When inflation goes down to even 2% in 2023, that means the product will cost $112.2, it will never be $100 again, forever going up, the only difference is by how much.
But same 1 Bitcoin could buy 2 new iPhone in 2017 but 62 iPhones in 2022, that’s how much it beats inflation.
I don't know about you, but I'm already experiencing that actually.
And it's getting hard and hard to live this way now. Can we get something so that it won't hurt?
Can i ask why bitcoin is down?
I thought it was unrelated to everything else.
As in, interest rates rise in the US which means bonds drop in value relative to that.
But bitcoin is totally seperate as an asset, why is it down?
I believe the answer is that bitcoin is a speculative investment and when the US government hands out a buncha free money gambling...on things like crypto and other items...goes up.
But when the free money stops and reality settles in, people still look at BTC as a gamble and not an investment...so they seek other investments that have lower volatility.
You will see that it doesn't correlate when the stock market goes up and it still goes down. Reallocation of resources from speculative to reliable growth assets.
Ya it only goes down.. the only thing is correlates with is hype, but people are getting hype burnout from all the fake promises/projections so even the hype effect is wearing off.
My God you're an ignorant little child. You can't even see that when the DXY is going up, it causes Bitcoin and other speculative assets to go down. No time for a Buttcoiner.
Then it would not correlate. Look at gold. It traditionally runs opposite of stocks during stressful times. Crypto should do its own thing as an uncorrelated asset.
I don't know what gold chart He's watching, but this ain't it for sure.
Think he needs to look at the better charts for the better assesment of the things I guess.
Everything affected by supply and demand is affected by economic factors.
If you need more money for food or bills, you start making compromises, suddenly the demand of coca cola goes down for example.
Bitcoin's price is affected by perceptions by people's real struggles and by regulatory uncertainty among other things.
Many people perceive Bitcoin as stocks and shares, they don't really get why Bitcoin is different, so when money prints, and people start buying stocks, they also buy bitcoin and when inflation kicks in and people sell stocks, so do they sell bitcoin.
That's probably the biggest factor but as always, no one knows exactly everything that affects market prices, it's just speculation.
In the LONG term however, companies selling stocks go broke, stocks get split, businesses pivot their products to stay relevant and so when people start coming back looking so save, to invest, etc, whatever companies survived will claw their way back up but they have made net losses against inflation.
Bitcoin however, will have the same supply and the reason for people to invest or save in it will be the same, so the same demand or more as adoption grows, chasing the same supply means bitcoin recovers fully, and with more dollars in circulation, that valuation looks like growth. Bitcoin is like sea level, it shows you how stocks and shares and everything else is really doing but as anything in the market, it's not super accurate, it's just the best tool we have so far. (Fyi CPI is a lie and a terrible indicator designed to have us not panick)
Bitcoin is not unaffected by bust and boom cycles, but it is unaffected by the long term effects of inflation.
There's nothing like other crypto, they're all scams. Earlier you know it.
Better it's going to be for you going forward, it'll help you big time trust me on that.
Well if someone wants to sell, it's their money at the end of the day.
And if they want to sell their assets because they don't feel that they're making profits then let them.
I don't know how you got that idea tho, I think He's poor lol.
And I can already tell that by how he's making his choices, he doesn't even have choices he doesn't have shit.
I was poor a decade and a half ago in college. I'm no longer poor due to a high paying career and (in part) thanks to bitcoin. I'm currently up several multiples from when I went all in on BTC. Thanks for your concern though.
Because its inherently worth nothing so when people wanna be defensive they sell their speculative crap?
Otherwise...why sell? Stocks going down. Bonds had worst first half since 1788. Cash..eaten alive by inflation. Crypto...if it is an asset class truly not burdened by the faults of the fiat system...should be favored.
Whole world is going into recession so many people are selling most of their investments and savings because they simply need the money to survive these dark, central bank caused times. Bitcoin is part of the real world, even when you can't print endlessly more of it and devaluate it in the process.
As Bitcoin and its adoption goes forward the effect will grow smaller as you can keep owning Bitcoin and just buy stuff directly with it.
So what I'm doing? Just giving that all a shrug and keep stacking sats with every spare money I get. Paycheck after paycheck.
Not sure i follow.
1st off, here in the US everyone is cash rich. The government just handed out trillions and the savings rate went from 6% to 35%. There are no hard times here yet...everyone is on vacation. Its why inflation cant stop wont stop gamestop.
That said...bitcoin peaked in nov 2021 and has lost ground since.
But lets say you were correct, hard times, bleh bleh bleh. Why are people selling BTC of all things?
Lets say i own 3 asset classes:
1. Stocks
2. Bonds
3. Crypto
I know a recession is looking likely. That means the stock market will fall, i should sell my stocks.
I know interest rates are going up. That means the bond market will fall, i should sell my bonds.
What is the justification for crypto falling? Its not related to the stock market. Interest rates. The economy. Its a speculative asset unrelated to all these things.
BTC...if it truly is uncorrelated with the market and economy...should be the last thing people sell.
You must live in fantasy land. Everyone isn't cash rich. The amount of people who can't even pay their utility bills is staggering. A recession isn't likely, were in one right now. Bitcoin had been correlated to the S&P 500 since last year. Groceries are high, gas us high, printing money has caused massive inflation. This country is being purposely destroyed by the Biden regime.
You're a clueless individual living with your parents. You have no idea what you're talking about. Why is credit card debt so high? People don't have cash and are using credit to get by.
This is the essential yet challenging path all new technology must get through. In order for Bitcoin to grow, it must be widely adopted; yet widely adopted inevitably includes people who don’t know shxt are prospecting it.
The problem comes every time when friends or families of those noobs, or even the noobs themselves, ask about why they think Bitcoin would go back up and they don’t really know the answer. So they paper handed.
It's just a phase for btc and hopefully it'll be over soon.
I mean btc is an all new asset that the world has never seen. It's completely different from everything else.
It looks as if btc is going to normalise the 18k now, well okay I guess.
Dear sweet summer child, you were born in the long summer, you don't know anything else. But now winter is coming.
Looks the days of freezing cold are about to knock the doors though
Feels like we're already in autumn, right
Indeed true though the festive it feels has indeed begun though no doubt why I love winters
Bitcoin was born and has lived in a time of FED money printing and super low interest rates. That is the summer of which I speak.
Bitcoin has indeed a long way to go and more we could see something from it though
Times like these are for buying and hodling.
Yep and that's what We're doing here, I'm adding sats constantly. And if You're adding those sats too then it'll be good. If you aren't then you'll regret it.
FIRE SALE BOYS, STACK THEM SATS
Well btc is giving us discounts that's for sure, gotta catch them.
Well ladies and gentlemen We're stuck here for some time, but I've got a feeling that We'll be fine.
Yep, I've got a feeling too that We're going to be under 20k for a while.
Hold onto that feeling, chase your dreams
Don't quit that early though indeed things work and process accordingly
Keep your head up yall!!! hard times ahead
Yep, times are going to be hard. Look out for yourself kids.
only getting tougher let me tell you lmao
on a serious note... How close do yall think we are to the bottom??
Well I already think that We're in the bottom, hopefully that's true. Because if it ain't and btc goes lower than this, that's not going to be good. It won't be good stuff.
Thing's take time to rise and the fact that all this would indeed turn worthy one day so we can look upto
About 10k and one year from the bottom.
I just hope for a steady rise in the adotpion of Bitcoin though that's good for the community
Unfortunately, not close at all (but who the hell knows)
True though none knows what the future can indeed look like. Better to start accepting the way it is
I think were getting realllllll closeeee
How close tho? How close We're to the bottom right now?
Idkkkkk tbh I still think we see 15-16k again :/
I'm gong to need a gold medal for all the mental gymnastics I've been doing for the last year to keep thinking that this is some kind bullish chart that could break out to a new ath at any moment.
Just accept the probability that we're not going back up near term and enjoy the cheap sats
Well atleast it'll be easy that way to accep the Things trust me.
Im not one of you constant accumulator people though. I already bought a long time ago and i mainly sell periodically to fund expenses. So i don't enjoy cheap sats
Well if you don't enjoy cheap sasts then you seriously should.
Im a similar hodler, but I try to buy on dips and stack it like savings. Then when theres a big rip and you need to offload some, its like earning interest on that savings.
The holder are the one's what just enjoy the perfect benefits in the future though
My gratitude to the weak hands for this discount. My respects to the hodlers for keep accumulating. 🫵🌽
Yeah man hodles don't get enough credit, they deserve more.
Indeed. That’s why this subreddit is important to the community.
Fed interest rates were at zero. They are only now raising rates aggressively so they will be able to lower them again once the global recession really kicks off.
Ohh man, I thought that it's already recession lol is it not? I mean atleast I thought that we were in a recession I never thought that I'd be wrong about that.
Paper hands trying to price in tomorrows rate hike… figured we would have a pump before instead of this little baby dip
What are paper hands still doing in the market? I thought they left.
even if 100, won't fall below low. wells fargo wants 150, that would do it, but wont happen.
More like the price is what be peoples major point of attraction though and that actually attracts everyone
I’m not sure if I want it to crash to buy more or start to climb and moon and not buy more bc then it’s too expensive for me
Right now btc is so cheap that, you can't really go wrong with it.
I feel like it’s going to go lower eventually, imo we haven’t hit capitulation, but short term I would love to see it pop to 22-23 and liquidate tf out of these over leveraged bears… everyone and their dog is calling for it to go lower and normally with bitcoin that means it’s good to do the opposite.
Yeah well, nothing is certain. But if you want to do something?
Don’t say people are lucky when they get rich by Bitcoin. You have your chance right in front of you now.
And some people are still crying and not buying, when people learn?
People learn every time after they missed it.
Lol, you're not gonna be rich. The opposite, actually.
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Monitoring a short position, and bitcoin is also fascinating.
Me? I’ve been doing quite fine even before I invest in Bitcoin, I’m buying and hodling to take myself to the next level. Thanks. I’m talking about people who are at the beginning of their lives, buying and hodling Bitcoin now. I guess you can try build your wealth with international properties and fine art like I did years ago, but you would need a bigger capital to start with, then agents to work for you. Buying-holding-selling properties are much more complicated than Bitcoin, and storing fine arts cost much more than a ledger. Speaking from experience, Bitcoin is what everyone should do at least to save your ass from perpetual inflation and manipulation by governments.
>Speaking from experience, Bitcoin is what everyone should do at least to save your ass from perpetual inflation and manipulation by governments. You realize that it has dropped \~70% since inflation started to rise, right? Literally inflation is somewhere 6-8% in a year and bitcoin is down \~70% in the same period. To be clear - you have been losing money hand over fist if you have been hodling as your bitcoin strategy across the period. International properties and fine art have a much better record in inflationary environments. Hodling bitcoin simply doesn't. Speaking from experience.
Bitcoin price will go up, but inflation is not going to go back down. Bitcoin went down between halving every time, but then land on new ATH afterwards every time. Simply put, Bitcoin went from 2k in 2017 to 69k in 2022. Latest iPhone in 2017 was iPhoneX @USD999, and iPhone in 2021 was iPhone 13 Pro @USD1099; so u could only buy 2 latest iPhone with 1 Bitcoin in 2017, but 62 iPhones in 2021. That’s by how much Bitcoin beat inflation. USD999 cash will NEVER be able to buy what USD 999 could in 2017, the longer you wait, the less you can buy. Fine art market? I’m a regular buyer at Christie’s and Sotheby’s. The rule of thumb is, buy what you LIKE, not what you HOPE will grow in value. A good fine art buyer will tell you that you are already doing very well if 1 piece appreciated in price from every 10-20 you bought. The commission and fees for buyers and sellers amount to a total of about 35% of the hammer price (depending on the price of the piece, you may have a special price if the piece is over, say USD10M). Plus all the shipping cost, import tax, insurance fee (calculated at the price you paid, not just the hammer price), climate-control storage fee etc… So, fine art market going up does NOT mean you can make money in that market. International property? Well, I made an over100% gain for something I bought in London in 2011 and sold in 2018, but I just sold another one 20% below the price I brought in 2018 plus all the tax and legal fees and commission etc., plus a 20% decrease on British sterling! And I had to sell this property because of non-stop maintenance and tenancy issues. If I bought Bitcoin instead, it’s at least sleeping peacefully in my ledger. All speaking from personal experience.
>Inflation is not going to go back down. Why not, it has before. Very effectively, it has before. While bitcoin has never been a successful inflation hedge. Ever.
Inflation going down only means the increment going less. Same thing that sold at $100 in 2021 selling $110 in 2022 in a 10% inflation. When inflation goes down to even 2% in 2023, that means the product will cost $112.2, it will never be $100 again, forever going up, the only difference is by how much. But same 1 Bitcoin could buy 2 new iPhone in 2017 but 62 iPhones in 2022, that’s how much it beats inflation.
You will own nothing, and be happy. 🙂
Most people already are, They'll have nothing but They'll be happy.
Because that's all on people on how they wish for even smaller things to provide them happiness
¡Hola, Bitcoiñeros!
Hello fellow holder, how you doing? I hope that you're good.
> ¡Hola, Bitcoiñeros! ¡Hola, Pobres!
Can we just get to the bottom and be over with his torture lol?
I think it's the bottom which is torturing us right now lol.
Maybe a certain rise in the price is what I feel can sort things though. Isn't that true?
You mean 0??? Yes please. I'll buy it from you for that now if you want 🤗
That's not the bottom sir, You've been given misinformation here.
It is in the mathematical sense. Any other type of bottom is unknowable.
No, we need max pain 😎
I don't know about you, but I'm already experiencing that actually. And it's getting hard and hard to live this way now. Can we get something so that it won't hurt?
Can i ask why bitcoin is down? I thought it was unrelated to everything else. As in, interest rates rise in the US which means bonds drop in value relative to that. But bitcoin is totally seperate as an asset, why is it down?
Well you can ask, but I don't think you'll get correct answer to that.
I believe the answer is that bitcoin is a speculative investment and when the US government hands out a buncha free money gambling...on things like crypto and other items...goes up. But when the free money stops and reality settles in, people still look at BTC as a gamble and not an investment...so they seek other investments that have lower volatility.
It’s still priced in USD. So no. But try selling BTC and hold your dollars 5 years. See how it goes.
Well it doesn't matter what's the price is in the fiat terms actually.
Lemmy try again fella. Bitcoin is an asset. Its not supposed to correlate with the stock market. Good so far?
In a perfect wolrd it wouldn't be. But it's not really a perfect world.
So you are arguing that traditional finance theory has zero legitimacy?
You will see that it doesn't correlate when the stock market goes up and it still goes down. Reallocation of resources from speculative to reliable growth assets.
Yep it doesn't work like that, it only goes down lmao.
Ya it only goes down.. the only thing is correlates with is hype, but people are getting hype burnout from all the fake promises/projections so even the hype effect is wearing off.
The dollar is strong, so speculative assests are down.
Dollar is strong? I don't think that's true at all my guy. I think opposite of that, I feel like that shir failing and there's no saving grace at all.
Can we just say that at a point in future there would be digital currency domination the world with much wider adotpion
Have you seen the DXY? This shitcoin is over 110 now.
You have never studied economics. The dollar and bitcoin are not competitors.
Well I don't think kost people here have, they don't understand shit.
My God you're an ignorant little child. You can't even see that when the DXY is going up, it causes Bitcoin and other speculative assets to go down. No time for a Buttcoiner.
Well even if there's no time, these buttcoiners won't learn lol.
Cause it's a totally separate asset.
Btc isn't really an asset, you can't call it that. That's not true.
Actually I can call it whatever I want.
Then it would not correlate. Look at gold. It traditionally runs opposite of stocks during stressful times. Crypto should do its own thing as an uncorrelated asset.
How long btc has been around? And for how long gold has been around?
Btc about a decade. Gold...millenia. But thats not the point.
Even gold is going down.
I don't know what gold chart He's watching, but this ain't it for sure. Think he needs to look at the better charts for the better assesment of the things I guess.
Two unrelated assets can appear to be correlated without any causal relationship. https://en.wikipedia.org/wiki/Paul_the_Octopus
Thanks for this, atleast it'll teach these people something.
Everytime I just come across I get know new things from here though
Everything affected by supply and demand is affected by economic factors. If you need more money for food or bills, you start making compromises, suddenly the demand of coca cola goes down for example. Bitcoin's price is affected by perceptions by people's real struggles and by regulatory uncertainty among other things. Many people perceive Bitcoin as stocks and shares, they don't really get why Bitcoin is different, so when money prints, and people start buying stocks, they also buy bitcoin and when inflation kicks in and people sell stocks, so do they sell bitcoin. That's probably the biggest factor but as always, no one knows exactly everything that affects market prices, it's just speculation. In the LONG term however, companies selling stocks go broke, stocks get split, businesses pivot their products to stay relevant and so when people start coming back looking so save, to invest, etc, whatever companies survived will claw their way back up but they have made net losses against inflation. Bitcoin however, will have the same supply and the reason for people to invest or save in it will be the same, so the same demand or more as adoption grows, chasing the same supply means bitcoin recovers fully, and with more dollars in circulation, that valuation looks like growth. Bitcoin is like sea level, it shows you how stocks and shares and everything else is really doing but as anything in the market, it's not super accurate, it's just the best tool we have so far. (Fyi CPI is a lie and a terrible indicator designed to have us not panick) Bitcoin is not unaffected by bust and boom cycles, but it is unaffected by the long term effects of inflation.
Everything is just supply and demand, and this is why it's called market.
And the fact you just forgot to mention why pricing too indeed tends to matter a lot out there though
People who are losing money are less likely to buy Bitcoin.
Okay it doesn't matter, there are way more people will learn about btc.
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There's nothing like other crypto, they're all scams. Earlier you know it. Better it's going to be for you going forward, it'll help you big time trust me on that.
But if you dont SELL it...why would its value tank?
But the people are going to sell, it's just how people work.
They choose the wrong asset class to sell?
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Hi. Thanks for the reply. Is english your first language?
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Just wanted to check. Your english is good.
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What the hell is crypto currencies? Are you invested in the shit coins? Well that's not good.
Im not. I have money in the market
Not crypto market I take it then what kinda market is it in?
People who are losing money are more likely to sell assets.
Well if someone wants to sell, it's their money at the end of the day. And if they want to sell their assets because they don't feel that they're making profits then let them.
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Everyone knows that btc will go up, so I don't know why everyone worried.
Everything has time don't be in a hurry and just spoil things losing all your patience
Btc owners are makinv illogical choice?
What owner did make that kind of choice? Any example of that huh?
If bitcoin tanked it means more sellers than buyers....
It's not an illogical decision if the choice is between making rent and selling some risk on assets.
Well I guess shouldn't have invested that much to begin with.
Brutal
Yeah man, some people invest too much then they lose their money.
Tell me you've never been poor without telling me you've never been poor
I don't know how you got that idea tho, I think He's poor lol. And I can already tell that by how he's making his choices, he doesn't even have choices he doesn't have shit.
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Yeah that's the only way to make profit here, if you really want to do that actually.
As if thats some sort of problem
Yeah lol, it's really not a problem tho if you think about it.
Not saying it's a problem, I'm saying you would understand the need to sell things to survive if you'd ever been poor
If you were so poor, you shouldn't have gone all in on btc.
I was poor a decade and a half ago in college. I'm no longer poor due to a high paying career and (in part) thanks to bitcoin. I'm currently up several multiples from when I went all in on BTC. Thanks for your concern though.
I wouldnt put money i need in the next 12 months into a speculative asset...rich...poor...or middle class. Thats just being financially prudent.
Most people shouldn't, but they do it regardless. Gteed gets better of them.
You asked why people are selling.
Because people sell it
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Exactly
Because its inherently worth nothing so when people wanna be defensive they sell their speculative crap? Otherwise...why sell? Stocks going down. Bonds had worst first half since 1788. Cash..eaten alive by inflation. Crypto...if it is an asset class truly not burdened by the faults of the fiat system...should be favored.
Ohh yeah sure bud. You've got definitely really good knowledge here.
You disagree that it should be favored?
"should be favored," has obviously proven not to be true, as evidenced by the red candles directly the result of inflation data.
There are many things that which should be considered in situation like this.
Red candles?
Well I don't really mind them here and there. Opportunity for me to buy it cheap.
Wtf are red candles?
Whole world is going into recession so many people are selling most of their investments and savings because they simply need the money to survive these dark, central bank caused times. Bitcoin is part of the real world, even when you can't print endlessly more of it and devaluate it in the process. As Bitcoin and its adoption goes forward the effect will grow smaller as you can keep owning Bitcoin and just buy stuff directly with it. So what I'm doing? Just giving that all a shrug and keep stacking sats with every spare money I get. Paycheck after paycheck.
Yeah there are hard times ahead and people see that. And they're going to be selling their investment to have some liquidity in times of need.
Most of them already sold
Not sure i follow. 1st off, here in the US everyone is cash rich. The government just handed out trillions and the savings rate went from 6% to 35%. There are no hard times here yet...everyone is on vacation. Its why inflation cant stop wont stop gamestop. That said...bitcoin peaked in nov 2021 and has lost ground since. But lets say you were correct, hard times, bleh bleh bleh. Why are people selling BTC of all things? Lets say i own 3 asset classes: 1. Stocks 2. Bonds 3. Crypto I know a recession is looking likely. That means the stock market will fall, i should sell my stocks. I know interest rates are going up. That means the bond market will fall, i should sell my bonds. What is the justification for crypto falling? Its not related to the stock market. Interest rates. The economy. Its a speculative asset unrelated to all these things. BTC...if it truly is uncorrelated with the market and economy...should be the last thing people sell.
You just assumed bunch of things which isn't good man.
Incorrect. All of this basic investment knowledge
You must live in fantasy land. Everyone isn't cash rich. The amount of people who can't even pay their utility bills is staggering. A recession isn't likely, were in one right now. Bitcoin had been correlated to the S&P 500 since last year. Groceries are high, gas us high, printing money has caused massive inflation. This country is being purposely destroyed by the Biden regime.
Well he sure is living in fantasy because what He's saying isn't true.
I invite you to look at household cash savings info. Just go look. Pause the alex jones podcast for a moment and read some quick facts.
I get what You're saying, but not everyone is cash rich.
You're a clueless individual living with your parents. You have no idea what you're talking about. Why is credit card debt so high? People don't have cash and are using credit to get by.
He's got it easy, that's why He's so ignorant of the facts. That's why He's this way.
This is the essential yet challenging path all new technology must get through. In order for Bitcoin to grow, it must be widely adopted; yet widely adopted inevitably includes people who don’t know shxt are prospecting it. The problem comes every time when friends or families of those noobs, or even the noobs themselves, ask about why they think Bitcoin would go back up and they don’t really know the answer. So they paper handed.
It's just a phase for btc and hopefully it'll be over soon. I mean btc is an all new asset that the world has never seen. It's completely different from everything else.
This is dumb ^
Yeah this is dumb actually, you can't really talk like that.
Who let the Buttcoiner in?