Don't know about the fundamentals, but the equities market tanked first and BTC soon followed. I think the market just needs time to digest all this before going in either direction. As far as the rate hike is concerned, 25 bps was in line with the expectation (wasn't it?).
Is the crypto winter over?
- Thread starter schizo
- Start date
Think of the zombies approaching the building, don't shoot at them and then you miss and waste bullets. Let them get to the door and then rattatatatatat, boom boom pow(ell)
More bank failures soon
Damn, you're one pessimist.
Damn, you're one pessimist.
Aw hell nah! Au contraire, I'm a huge optimist. Bitcoin to $100K by eoy and you think I'm a pessimist???
You disagree with my analysis on the Fed action? It's all good, I'm no expert, just my personal belief
What the Fed does or doesn't do won't be able to stop the Bitcoin bull market
Question, have you closed your long and reversed to short?
LOL lighten up man, I was only joking.
I'm still long, but I'm getting a little edgy. This isn't how I normally trade. But I've decided to go easy with BTC, giving it a lot of wiggle room (for now, at least).Question, have you closed your long and reversed to short?
Ok, cool. I wish I had more pessimism or rather I was more realistic at times, instead of being blindsided to holding all the way to a big loss m2m
If you meant my being a pessimist towards the regional or small banks, yes, I am but that's because money is still flowing by the 10's of billions of $ from them to the big banks
All my bank accounts are with the big banks so I have nothing at risk there and I'm a realist based on the news reports I've seen. If no more banks get in trouble, then I'm wrong on my opinion on the situation but i'm not short or hold no puts on the bank stocks
I believe that it is still a Bitcoin bull market
(so far) 1-day delayed bullish reaction to the dovish Powell post-FOMC statements such as "may or might"
I can't believe how many tweets I'm reading about how companies are restricting moving cash into crypto accounts. They are seriously closing the on-ramps. Not sure if this is bullish or not though. The funniest part is they claim its for the safety of the customer! LOL
I know most don't believe the Balaji bet, and I agree it sounds outrageous, but so much circumstantial evidence is adding and we have never had something as pure as bitcoin to be the release valve for all the pressure building up. Sure people bought gold in the past, but when gold isn't available, you just don't get any. Its not like a citizen in the past could have pushed up the price of gold. And these days, you can probably buy all the paper gold you want anyway, which also won't push the price up in any meaningful way.
But the scarcity of this bitcoin is something that can't be fake. And for the record, I still don't believe there are 2 million bitcoins on exchanges. Yes, they may be in customer accounts, but it doesn't mean they are available for sale. If this was the case, these exchange would be worth billions of dollar, which they are not. Those bitcoin mostly belong to depositors I think, or perhaps miners, or I don't know who else. But no way that there is 2 million bitcoins as inventory for sale.
Here is a tweet on a major spike down on one exchange. No idea what caused it, but I'm sure exchanges will be running out of bitcoin way before 2 million are sold (the theory is that each exchange is actually quite independent when dealing with a scare asset and prices will not be so in sync as inventory levels shift). And even if we consider 100k available, once the first 50k are gone, those next 50k will be at a much higher price.
I know most don't believe the Balaji bet, and I agree it sounds outrageous, but so much circumstantial evidence is adding and we have never had something as pure as bitcoin to be the release valve for all the pressure building up. Sure people bought gold in the past, but when gold isn't available, you just don't get any. Its not like a citizen in the past could have pushed up the price of gold. And these days, you can probably buy all the paper gold you want anyway, which also won't push the price up in any meaningful way.
But the scarcity of this bitcoin is something that can't be fake. And for the record, I still don't believe there are 2 million bitcoins on exchanges. Yes, they may be in customer accounts, but it doesn't mean they are available for sale. If this was the case, these exchange would be worth billions of dollar, which they are not. Those bitcoin mostly belong to depositors I think, or perhaps miners, or I don't know who else. But no way that there is 2 million bitcoins as inventory for sale.
Here is a tweet on a major spike down on one exchange. No idea what caused it, but I'm sure exchanges will be running out of bitcoin way before 2 million are sold (the theory is that each exchange is actually quite independent when dealing with a scare asset and prices will not be so in sync as inventory levels shift). And even if we consider 100k available, once the first 50k are gone, those next 50k will be at a much higher price.