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...or outlook for me.
Who here have abs 😬
Any thoughts on BNP M&A in nyc
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Any thoughts on 0x.. ?
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If you r been looking for sell signs. This is it.
Let this soothe your souls overnight
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Hodor
See in crypto, I'm sure top 10% holders own +90% of the wealth. So if downturn comes tomorrow, here's what I see happen:
- Day 1-2: Whales get ready for manipulation and start selling massive quantities of crypto
- Day 2-15: Market tumbles significantly as the small fish run to cut losses
- Day 15-60: Prices start to recover as whales start to buy-back
- Day 60-90: People see massive recovery, but are wary of money tumble, but given the general distrust in stocks, makes them put some money back
- Day 90-120: Price starts to climb back, but buying happens only in known coins
- Day 120-150: Shit coins get completely decimated
- Day 150-250: Governments & org re-look at their original Stance of crypto & Start to encourage real innnovation
- Day 250-365: Prices stabilize and start to approach higher adoption
- Day 365+: to the moon
Crypto has 2 detractors right now, foolish people & suspicious governments. I think a downturn will make people smarter (& stay away from shitcoins) and make govt take a hard look at crypto as a potential alternative to conventional fin industry.
PS: Obviously my timing might be way off, but I think the sequence of events might be close
Sell off as it has not been proven how safe this safe haven is, unlike gold. Until some wars are fought over bitcoins it is not really a safe haven
I go back and forth on this. Personally, I would just hodl, but I could see a lot of the market taking profits since losses would be realized in their other investments
Hodl
But why does a downturn in the stock market have a downward effect on crypto too? I.e. If whales are what sets your vision in motion, why is it that whales would assume people would get out of crypto if other markets (stock market) are hurting
Cause the people with the smallest bags in crypto also happen to be the stupidest/easily scared. Intelligent money hasn't flown in yet
Also remember, crypto is not "safe haven", it's the stuff of wild dreams & nightmares. People scathed by the market won't put money in an even riskier vehicle
Yes, but it isn't correlated to the regular markets and is still a store of value, in a similar way to metals. And metals tend to be assets of choice during recessions. Why couldn't crypto perform a similar function?
By metals I mostly mean gold and silver
Not correlated to market, doesn't mean that it's 100% inversely correlated like the metals are. The market cap of gold is 10000x that of all of crypto. Metals have a 200 year history of being store of value. Crypto doesn't command that yet. Maybe in 1-2-5 years, not right now. I'm in for that kind of long haul and keep my altcoin stake low for these reasons.
Agreed that gold is more mature and has a greater confidence factor than crypto, but to your point earlier - if 10% of the holders own 90% of the wealth, id argue most users hodl no matter what, therefore retaining value, which could be seen by normal investors and used as an alternative during a recession. Obviously won't take away all of golds influx of $, but could take some
Truly wealthy crypto investors would see a crypto dump as a buying opportunity. Those who are well off could afford to hold until a future recovery. Everyone else bought more than they could afford to lose and will fuel the panic.
A1- look at my post. The high wealth guys will want blood and they'll get it by tanking crypto and flushing out the chump change (that has happened in every crypto dip till now). I'm not saying crypto will dip indefinitely post a market crash, I'm saying there'll be a significant lag before it recovers and comes out strong at the other hand. Metals on the other hand will jump really quickly cause of the 'safe haven' status