Bitcoin Thread

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If the NASDAQ dips, BTC dumps. NASDAQ futures open last night looked promising and BTC responded with a big green candle, but as soon it turned red today, BTC plummeted.

When it starts to recover then the bottom is in. We need news from the Fed that will stop the stock markets crashing soon or HODLers are in for a world of pain. But I can't think what BS they can come up with to keep the markets up with the inpending rates hikes looming.
 
Sensorei said:
If the NASDAQ dips, BTC dumps. NASDAQ futures open last night looked promising and BTC responded with a big green candle, but as soon it turned red today, BTC plummeted.

When it starts to recover then the bottom is in. We need news from the Fed that will stop the stock markets crashing soon or HODLers are in for a world of pain. But I can't think what BS they can come up with to keep the markets up with the inpending rates hikes looming.
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Recent articles and research confirms that Crypto is narrowly linked to the 3 big ones, S&P500, Nasdaq and Dow. I have definitely noticed the same. Crypto no longer operates independently.

That being said, interest rate hikes are starting in the US this year. The Fed announced 4, although I personally think it may only be 2 hikes. Even if this is the case, stocks will continue to fall. Investors do not like stock when interest rates hike due to inflation.
 
When the Nasdaq opens in a bit more than 2 hours I think we're going to see a spectacular show.

I'm guessing billions and billions and billions in leveraged liquidations for holders of MicroStrategy and other exposed entities.


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notayoba said:
When the Nasdaq opens in a bit more than 2 hours I think we're going to see a spectacular show.

I'm guessing billions and billions and billions in leveraged liquidations for holders of MicroStrategy and other exposed entities.


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One thing is certain. With the last 1-2 months' gradual decline, neither the correction nor the bearmarket has started as yet. In fact, it is not yet close to any of the two. 7-15% decline is pretty much normal in trading conditions, but the mere fact that it has been ongoing for 2 months is a confirmation that the US markets is heading slowly towards a correction and then likely a very long bearmarket.

By the way, as they are about to open, I see the three markets already slipped into the red again in premarkets. Not boding well for investors who still have money invested in US markets. Today may see another 1-2% cut from investments if things continue like they do.
 
rvZA said:
Crypto no longer operates independently
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it can again

I would like to see what crypto does after (not during) a proper stock market crash, we haven't had one of those since the "sub-prime crises" so it's kind of natural that it is treated as just another risk-on asset

for that matter the classic hedge, gold, has not responded lately as it always has during crises ... my guess is that's because we haven't had a real crash in 14 years

with a proper crash, when investors finally have to face the fact that the money printing won't save them this time, capital will have to rush into something, anything that is not the stock market
 
NarrowBandFtw said:
I would like to see what crypto does after (not during) a proper stock market crash, we haven't had one of those since the "sub-prime crises" so it's kind of natural that it is treated as just another risk-on asset
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Crypto will recover much faster. BTC recovered to pre"covid dump" value in 2 months after March '20 lows, while stock markets took 5 months.

Everyone in mainstream finance thought BTC was dead and over in March '20. This is a great opportunity we have coming up.
 
Sensorei said:
Crypto will recover much faster. BTC recovered to pre"covid dump" value in 2 months after March '20 lows, while stock markets took 5 months.

Everyone in mainstream finance thought BTC was dead and over in March '20. This is a great opportunity we have coming up.
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Agreed if you look long term its a great opportunity but people get to emotional because they are over exposed, if your entire portfolio drops 30-40% in a week I would also stress
 
Looking at 45k now! Volatile as can be - lovely for some evening adrenaline-stimulation trading.
 
Interesting bit of hack news in the Independent.

$3.6bn bitcoin seized from New York couple charged over Bitfinex cryptocurrency hack​

 
Why is bitcoin price dropping? Current events are exactly what should have people buying in masses if bitcoin does what it was designed to do. Ukrainians (and if the media is to be believed, many other Eastern European citizens) should be doing everything they can to get bitcoin. Instead, bitcoin price is falling like most other assets do in uncertain times, when it should be rising if it is to serve as an independent store of value and a medium of exchange.
 
Wary GOM said:
Why is bitcoin price dropping? Current events are exactly what should have people buying in masses if bitcoin does what it was designed to do. Ukrainians (and if the media is to be believed, many other Eastern European citizens) should be doing everything they can to get bitcoin. Instead, bitcoin price is falling like most other assets do in uncertain times, when it should be rising if it is to serve as an independent store of value and a medium of exchange.
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BTC is now nothing more than a high risk, speculative asset. As such it will follow market movements of similar assets. It is not a good store of value, nor a good medium of exchange due to inefficiencies in the blockchain.
 
JayM said:
BTC is now nothing more than a high risk, speculative asset. As such it will follow market movements of similar assets. It is not a good store of value, nor a good medium of exchange due to inefficiencies in the blockchain.
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Absolutely, and it is an expensive speculative asset at that.
 
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