Crypto Crash
- Thread starter Darts
- Start date
crypto won't, while many other markets might because they're not pyramid/ponzi schemes...lol.
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Pyramid schemes don't need analysis...lol, there's only one finale result.
I feel bad for the believers, cause that's what these people prey on.
put your money where you mouth is and make a bet that the crypto market won't recover.
It will recover.
Right now is an excellent time to buy Bitcoin.
Be prepared to hold for 2 to 4 years though
yeah , these are risk-off times / bear market and agree I would NOT bet on the next bull run for risk-on assets to start next year, but it will happen eventually.
wrt Bitcoin specifically, what may also help is the next halving is scheduled in April 2024, and the halving events have historically started a crypto rally .
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I'm personally not holding (or buying) any bitcoins.
I have about 50,000 CRO coins and I intend to hold for the next 2 to 5 years.
I also have 5 million LUNC coins
I see. BItcoin carries the market, so when it goes up, it pulls up the other coins (like CRO) but they'll go up even more as they have less liquidity and act as leveraged positions on Bitcoin (actually on ethereum , but trying to keep it simple here).
this is why even if you buy dead projects right now at these depressed prices you'll still likely make money on the next run up (as they naturally move up with the entire market).
Sure it will recover...you have CEO's of major crypto exchanges getting charged, lots of other cryptos that we're officially scams...but there are still some dumb asses out there that will get fooled. Eventually they will run out dumb asses, and the more people that come up with crypto currencies, the more diluted and watered down they become making it even harder to get the last remaining dumb asses.
We can do it here; you have a PayPal account or another account with an alter-ego email? FYI, if you had a crypto address, this could be done easily anonymously.
Wait? Nobody knows when risk-on markets will recover, but if history is any indication, 5-year period generally yields a positive return. I suspect I'll win before that. And, let's be clear the definition of "recover." To me, it's bitcoin reaching its previous ATH around 65k USD.
Thing is "crypto" isn't one thing. It's many, many things.
Yeah Bitcoin is a gamble as a potential store of value.
But
XRP is already being used by major financial institutions for transferring money internationally faster and cheaper than SWIFT.
HBAR is being used by some of the biggest corporations for healthcare and logistics.
ETH is being used as the fuel for running web applications.
Crypto isn't going away. Maybe the age of "get rich quick when DOGE/Bitcoin/whatever to the Moon" is dead. Maybe. Maybe not. But regardless, cryptocurrency and blockchain tech is here to stay and we're only just beginning to see all the awesome things being done with it.
Yeah Bitcoin is a gamble as a potential store of value.
But
XRP is already being used by major financial institutions for transferring money internationally faster and cheaper than SWIFT.
HBAR is being used by some of the biggest corporations for healthcare and logistics.
ETH is being used as the fuel for running web applications.
Crypto isn't going away. Maybe the age of "get rich quick when DOGE/Bitcoin/whatever to the Moon" is dead. Maybe. Maybe not. But regardless, cryptocurrency and blockchain tech is here to stay and we're only just beginning to see all the awesome things being done with it.
Agree largely, except for the "get rich quick" part. Such people will always exist whether it's the casino, stocks, crypto, etc.
Thats why if you do invest in some crypto, make sure its less than 10% of your total portfolio
hey Phil, recall you were actively trading; what are you up to now? sorry, didn't check if you're still active in the thread you created
I havent bought or sold any major stocks, just holding on to all my blue chips for now
I agree with you on the technological side. And the example you wrote are all technological use of crypto and especially the blockchain mechanism.
But unregulated crypto currency is the absolute biggest ponzi scheme ever existed. It's selling sand in the desert. If you are in it just an advice... Do not be the last fool.
it's gonna get regulated, the ftx collapse will accelerate this. and regulation will make the space bigger:
"There's a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions," says Jorn Lambert, Mastercard's chief digital officer".
Mastercard will help banks offer cryptocurrency trading
Mastercard is launching a program to let financial institutions offer cryptocurrency trading to their clients.
and the real institutional investors would then get in the game (pension funds, sovereign funds, etc ) because of regulatory clarity and thus their compliance departments would allow them to purchase crypto.
not all of them (cppib recently said they're not interested in crypto), but even even a few allocating 1 to 2 percent of their total assets (which would still be in the billions) would propel the price up.
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