Fukd

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[–]chottohen 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (8 children)

But if BTC goes down even more, won't people start to buy it again to take advantage of the low price, driving the price back up? BTC has crashed before and come back.

Or is this crash a cue for government(s) to step in and put controls on crypto trading? For example, Monero is already outlawed in some countries but there are ways I'm sure. Caveat: I really don't know what I'm talking about when it comes to crypto.

[–]Rastafoo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

All I know is, ever since Biden took office, all the exchanges are sending out tax forms to their users. Even if the price of bitcoin drops, nobody wants to put in all the effort and attention just for Biden to get the profits.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

But if BTC goes down even more, won't people start to buy it again to take advantage of the low price, driving the price back up

BTC keeps failing to maintain support at resistance levels. If it doesn't hold at 30k some people (Peter Schiff espoused this theory) think it's going to tumble to 10k.

My understanding is that growth stocks like tech are going to take the biggest hits due to the economy, and crypto is correlated with tech stocks. We'll see what happens when the NYSE opens, but many outlooks are bleak. People are more scared than greedy right now.

[–]chottohen 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (3 children)

Thanks for the explanation that does make sense. It looks like a controlled demolition of the US economy that's been going on since before Biden but he's going to be the fall guy.

Peter Schiff was right in 2007 when he said the real estate bubble was going to pop. People were openly laughing at him. I don't know if he's right this time. In 2007 people were more greedy and not scared at all. I got out just in time and my accountant has never spoken to me since.

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

It looks like a controlled demolition of the US economy that's been going on since before Biden but he's going to be the fall guy.

It does, doesn't it. In fact it was kinda suspicious, after the fed raised rates and the markets were still optimistic -- not the intended effect, a mass dump occurred all at once. I think someone phoned a friend to dump a ton of assets to facilitate the intended effect.

I got out just in time and my accountant has never spoken to me since.

Hahaha, that's awesome!

I think the real estate bubble is about to burst. It's overpriced. Lots of things are overpriced. I think cash is king rn. What's 8% inflation in a year compared to everything losing more.

[–]chottohen 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I'm sure you're tracking it but now BTC is 31900 in heavy, erratic trading so maybe it is coming back. I have no more real estate over there. All I know is what I learned on a TruthStream video from about two weeks ago: http://truthstreammedia.com/2022/04/29/this-is-a-housing-crisis/ . It's been linked on saidit and is pretty depressing. BlackRock, BrownStone, and Biden. I'm keeping my fingers crossed.

[–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

The housing "crash" has already started out west and is moving east. I think we have until the end of this year or middle of next year before it's nationwide. And connected to this, lumber prices are about to drop again, I think.

[–]jostiniane 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

There are good takes by better people but what I think is that wall-streters are getting out but not the rest. There's already a lot of money put in BTC and some others, I doubt BTC will go to 20k and ETH to 1500, governments are going full on BTC.. shitcoins are going to 0 but I think at least BTC, ETH, XMR and XRP will survive this..

[–]chottohen 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Let's hope so.