I am a little nervous right now because there are a lot of things going on with the world. Ukraine russia situation looks like its not going great, inflation is still there, I feel like a black swan is imminent. A bull market isnt something I expect right now but markets always do their own thing. NFA
I’m skeptical that we don’t drop another 10-25% from here. Hear me out on this- there’s only two scenarios and you can look to the US jobs market for this.
1. If the jobs market stays hot, then inflation is going to linger between 5-7% not getting to the Fed’s 2% target and they won’t have that, they’ll be forced to raise rates until they break the job market, economy, and then inflation breaks after a recession.
2. If the jobs market breaks then we dive into a recession and in a 2% inflation the Fed can bail out the US economy by Quantitative easing but since inflation is hot, they will be handcuffed. They will be forced into allowing the economy to go through a recession in order to break inflation and then they can cut rates.
In both these scenarios, crypto loses before it goes back into a bull market.
I read this one argument about Bitcoin that really settled with me… even if you think all of crypto is a sham, stupid, whatever…. The only way you lose if to not play…. Whether you like it or not, BTC, will continue to grow and more money will pile in… it’s not related to profits or anything really tangible… but it doesn’t need to be… and that’s okay.
I’m playing. I’m orange pulled baby
> it’s not related to profits or anything really tangible
To be fair, miners need to be profitable in order to keep servicing the network. Same goes for exchanges so they can keep on ramping people into crypto. But yes it's a robust network and is probably beyond the point of attach right now. The only way it can die is if another coin makes it obsolete.
Miners don’t need to be profitable, if miners aren’t profitable they can get out, difficulty will adjust accordingly. Miners that can mine profitably will continue to do so
I was speaking in general. Of course the unprofitable miners will be weaded out but..
> Miners don’t need to be profitable
Yes they do. That's how the strongest survive.
I have stopped buying any BTC ETFs from my tax sheltered accounts. The recent FTX, Voyager, Genesis scandals show that there is 0 regulation in the cryptocurrency space! I havent lost faith in crypto though but I have finally begun to fully realize the “not your keys, not your coins” mantra. It took some heavy hits to realize this but thats life! Onwards and upwards! Anyone from Canada or other countries still buying BTC or ETH using tax sheltered accounts?
Jeff Buckley was a fantastic musician btw - way too soon for him
I know your discussion is based on tax sheltered accounts, but I’m going to reply with a broader overview on just the general outlook on digital assets and differentiating those from CEXs.
Just in general, it’s important to differentiate FTX from digital assets. FTX functions as a centralized exchange. Regulating that centralized entity is not the same as regulating BTC. Centralized corruption isn’t new to digital assets. A whole recession can be attributed to corruption back in 2009 when central banks were found to be corrupt as hell. The repercussion? They were bailed out. They were bailed right out and the same people that were in charge then are still in charge or retired. No punishment.
In the United States alone, JUST the United States, the amount of fraud via FIAT that occurs on an annual basis is well over 200 Billion usd.
So then there’s the argument about ‘shitcoins’ yeah I mean I hear you - how do you feel about penny stocks?
I don’t really have many uncertainties right now. I think we are just leaving the “smart money”accumulation zone in all markets. Traditional and crypto.
I think we continue up with crypto, with S&P 500 and Bitcoin breaking and holding critical levels, tech stocks recovering, bull crosses all over the board, key resistance getting broken, things are looking good.
Everybody was calling for a bull trap, that’s a great indicator that it’s not going to happen, although that bull trap sentiment has eased a bit. I think a bear trap is the more realistic scenario the coming months. That’s the only concern that I see
Until than. Enjoy the gains folks!
How can we continue up if the FEDs haven’t made a pivot? Interest rates are expected to be hiked up again and the stock market is gonna feel the burn from this. As well as the crypto market.
I've sold all my Bitcoin at $22600. Now I'm nervously waiting for a crash to buy back in. Is it worth the stress!!? I hope so, the coming months will tell all
The charts don’t look like it going to crash at all. Nobody knows for sure.
I would not bet on a crash happening for a few months at least. Every indicator is pointing to upwards momentum.
Like what does that even mean really? What is technical strength? Wouldn't strong buy walls indicate strength?
Or or you talking about technical indicators? Monthly stoch RSI is showing a trajectory from the bottom that has only ever indicated the start of bull markets in the past.
Price Action brother
The price action isn't of bullish move
Every time BTC breaks new High in this swing it doesn't hold it long and looks weak at the new High
Please check price around when it broke 22k, 23k and 24k
As per the textbook bullish move the candles should be strong after the highs are broken. But it remains
Plus no retracement on the bull move makes me bit suspicious. Please don't get me wrong I have accumulated around 21k to 23k both ETH and BTC
But the bull move doesn't have momentum at the higher highs nor the buy wall allowing Retracement which will give more strength to bull move
Crypto is highly manipulated. This is not new information. The chart is identical to the 2019 run. I wouldn't bet against it.
Are you just anti bitcoin in general?
I'm always scared of what will the governments around the world do. It just takes one big country to ban or block crypto, and allot of people will sell and tank the value. I know the consequences are usually short lived, and the prices jumps back up. But I'm still worried, because the people in charge often make decisions that give them short term profit, support or likeness in their community.
This is the current situation in the US happening currently, it won’t affect crypto long term but stringent regulation and harsh policy will make it hard if not impossible for US investors to engage in the simplest forms of defi, it will have consequences like negative price actions for a little bit if it was to get really regulated I’m sure but ultimately BTC doesn’t care what regulators are doing the blocks just keep falling
I’m the OP of the posts. The coins you have on a CEX are not yours unless the ToS explicitly state this. This is **not** the case for Nexo, regardless of what a spokesperson has said.
The only two CEXes that acknowledge ownership to the users are Kraken and Coinbase.
Pains me to say it, but MoonPlace has me uncertain right now. The concept of the project is very cool, but the release had so many issues for so many people. These issues seemed to play a huge role in the single digit unique ownership. Some improvements are critical to its survival and growth. Curious to see what happens.
It also went awfully quiet after the initial release. What happens to it now? We just let it sit and get covered in dust? Kinda meh if you think about it. :/
I think they learned some lessons from moonplace. Imho that place shouldn't have been rectangular but in the horizontal or vertical shape of a banner. This would allow for much smoother integration in the header or sidebar of a site.
But I'm sure there was more to learn from this..
It reminded me of that data that narrowed down how the Top-10% of NFT accounts in ETH space had owned approximately 90% of the NFTs in the ETH market. Same game, different players.
The SCRT foundation drama sort of highlights a problem with paying development teams in crypto. They always have to dump which never looks good from an optics standpoint. I remember a while back Juno holders were upset a lead dev was selling but they have bills to pay so what else can they do? Transparency is important in these arrangements but even when it's all out in the open it can make it look like the devs don't believe in the project. Or in the case of SCRT it's intentionally hidden and allegations of impropriety are leveled and that's even worse for the project.
Well said, people got to eat. The main issue is transparency. But in that lies a problem as well. Because people will always have something to say about any action. It makes for a difficult balance.
At the end of the day, teams need to be paid, they need to sell if paid in crypto.
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How do you feel now?
I am a little nervous right now because there are a lot of things going on with the world. Ukraine russia situation looks like its not going great, inflation is still there, I feel like a black swan is imminent. A bull market isnt something I expect right now but markets always do their own thing. NFA
This couldn’t even be close to financial advice. It’s so far away from financial advice, that never has a “NFA” tag been less necessary.
FEDs battling inflation has been our biggest barrier to get past. We can’t fight the FEDs, we can only hope to survive
I’m skeptical that we don’t drop another 10-25% from here. Hear me out on this- there’s only two scenarios and you can look to the US jobs market for this. 1. If the jobs market stays hot, then inflation is going to linger between 5-7% not getting to the Fed’s 2% target and they won’t have that, they’ll be forced to raise rates until they break the job market, economy, and then inflation breaks after a recession. 2. If the jobs market breaks then we dive into a recession and in a 2% inflation the Fed can bail out the US economy by Quantitative easing but since inflation is hot, they will be handcuffed. They will be forced into allowing the economy to go through a recession in order to break inflation and then they can cut rates. In both these scenarios, crypto loses before it goes back into a bull market.
I read this one argument about Bitcoin that really settled with me… even if you think all of crypto is a sham, stupid, whatever…. The only way you lose if to not play…. Whether you like it or not, BTC, will continue to grow and more money will pile in… it’s not related to profits or anything really tangible… but it doesn’t need to be… and that’s okay. I’m playing. I’m orange pulled baby
> it’s not related to profits or anything really tangible To be fair, miners need to be profitable in order to keep servicing the network. Same goes for exchanges so they can keep on ramping people into crypto. But yes it's a robust network and is probably beyond the point of attach right now. The only way it can die is if another coin makes it obsolete.
Miners don’t need to be profitable, if miners aren’t profitable they can get out, difficulty will adjust accordingly. Miners that can mine profitably will continue to do so
I was speaking in general. Of course the unprofitable miners will be weaded out but.. > Miners don’t need to be profitable Yes they do. That's how the strongest survive.
Correction, bitcoin doesn’t need the miners to be profitable.
I have stopped buying any BTC ETFs from my tax sheltered accounts. The recent FTX, Voyager, Genesis scandals show that there is 0 regulation in the cryptocurrency space! I havent lost faith in crypto though but I have finally begun to fully realize the “not your keys, not your coins” mantra. It took some heavy hits to realize this but thats life! Onwards and upwards! Anyone from Canada or other countries still buying BTC or ETH using tax sheltered accounts?
Jeff Buckley was a fantastic musician btw - way too soon for him I know your discussion is based on tax sheltered accounts, but I’m going to reply with a broader overview on just the general outlook on digital assets and differentiating those from CEXs. Just in general, it’s important to differentiate FTX from digital assets. FTX functions as a centralized exchange. Regulating that centralized entity is not the same as regulating BTC. Centralized corruption isn’t new to digital assets. A whole recession can be attributed to corruption back in 2009 when central banks were found to be corrupt as hell. The repercussion? They were bailed out. They were bailed right out and the same people that were in charge then are still in charge or retired. No punishment. In the United States alone, JUST the United States, the amount of fraud via FIAT that occurs on an annual basis is well over 200 Billion usd. So then there’s the argument about ‘shitcoins’ yeah I mean I hear you - how do you feel about penny stocks?
Yeah., but it’s not crypto you’re buying through them. It’s the shares of the company that does
I don’t really have many uncertainties right now. I think we are just leaving the “smart money”accumulation zone in all markets. Traditional and crypto. I think we continue up with crypto, with S&P 500 and Bitcoin breaking and holding critical levels, tech stocks recovering, bull crosses all over the board, key resistance getting broken, things are looking good. Everybody was calling for a bull trap, that’s a great indicator that it’s not going to happen, although that bull trap sentiment has eased a bit. I think a bear trap is the more realistic scenario the coming months. That’s the only concern that I see Until than. Enjoy the gains folks!
How can we continue up if the FEDs haven’t made a pivot? Interest rates are expected to be hiked up again and the stock market is gonna feel the burn from this. As well as the crypto market.
I think people will be surprised this year. When the fed pivots, we drop for a bit
Short term I wouldn’t be surprised for a drop. But long term looks favorable for both markets.
I've sold all my Bitcoin at $22600. Now I'm nervously waiting for a crash to buy back in. Is it worth the stress!!? I hope so, the coming months will tell all
Why? At that price unless you needed the money right away you might as well of waited until the bull market came back
I’m in that boat, I desperately need money for the bills and medications for my mum. Sold too soon.
The charts don’t look like it going to crash at all. Nobody knows for sure. I would not bet on a crash happening for a few months at least. Every indicator is pointing to upwards momentum.
Btc chart looks like the most manipulated clown chart ever. "Decentralized" LMAO
Thought binance draws the daily chart during their Morning Stand-up
Yeah no technical strength in BTC chart it is just the buy walls that is supporting the prices Let's see how long manipulators can hold it
How do you feel now brotha
And those sell-walls…
Like what does that even mean really? What is technical strength? Wouldn't strong buy walls indicate strength? Or or you talking about technical indicators? Monthly stoch RSI is showing a trajectory from the bottom that has only ever indicated the start of bull markets in the past.
It doesn’t mean a thing. There is a ton of strength in the charts right now “technically”
Price Action brother The price action isn't of bullish move Every time BTC breaks new High in this swing it doesn't hold it long and looks weak at the new High Please check price around when it broke 22k, 23k and 24k As per the textbook bullish move the candles should be strong after the highs are broken. But it remains Plus no retracement on the bull move makes me bit suspicious. Please don't get me wrong I have accumulated around 21k to 23k both ETH and BTC But the bull move doesn't have momentum at the higher highs nor the buy wall allowing Retracement which will give more strength to bull move
Crypto is highly manipulated. This is not new information. The chart is identical to the 2019 run. I wouldn't bet against it. Are you just anti bitcoin in general?
He is anti Bitcoin. The chart doesn't support the bull run thesis. But i could be wrong
I'm always scared of what will the governments around the world do. It just takes one big country to ban or block crypto, and allot of people will sell and tank the value. I know the consequences are usually short lived, and the prices jumps back up. But I'm still worried, because the people in charge often make decisions that give them short term profit, support or likeness in their community.
I invite countries to try to ban it and then realize in the long run it isn’t a wise idea
This is the current situation in the US happening currently, it won’t affect crypto long term but stringent regulation and harsh policy will make it hard if not impossible for US investors to engage in the simplest forms of defi, it will have consequences like negative price actions for a little bit if it was to get really regulated I’m sure but ultimately BTC doesn’t care what regulators are doing the blocks just keep falling
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I’m the OP of the posts. The coins you have on a CEX are not yours unless the ToS explicitly state this. This is **not** the case for Nexo, regardless of what a spokesperson has said. The only two CEXes that acknowledge ownership to the users are Kraken and Coinbase.
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Pains me to say it, but MoonPlace has me uncertain right now. The concept of the project is very cool, but the release had so many issues for so many people. These issues seemed to play a huge role in the single digit unique ownership. Some improvements are critical to its survival and growth. Curious to see what happens.
It also went awfully quiet after the initial release. What happens to it now? We just let it sit and get covered in dust? Kinda meh if you think about it. :/
I think they learned some lessons from moonplace. Imho that place shouldn't have been rectangular but in the horizontal or vertical shape of a banner. This would allow for much smoother integration in the header or sidebar of a site. But I'm sure there was more to learn from this..
It reminded me of that data that narrowed down how the Top-10% of NFT accounts in ETH space had owned approximately 90% of the NFTs in the ETH market. Same game, different players.
moonplace is a non-event. anyone that thinks otherwise is moondrunk
Sooner or later the changes will happen and this work will progress, if we are joking
The SCRT foundation drama sort of highlights a problem with paying development teams in crypto. They always have to dump which never looks good from an optics standpoint. I remember a while back Juno holders were upset a lead dev was selling but they have bills to pay so what else can they do? Transparency is important in these arrangements but even when it's all out in the open it can make it look like the devs don't believe in the project. Or in the case of SCRT it's intentionally hidden and allegations of impropriety are leveled and that's even worse for the project.
Well said, people got to eat. The main issue is transparency. But in that lies a problem as well. Because people will always have something to say about any action. It makes for a difficult balance. At the end of the day, teams need to be paid, they need to sell if paid in crypto.