Crypto Crash!

[ppnewbie]

How’s that for a title?

Anybody knowledgeable (or anyone in general) care to share their thoughts on what is currently happening to the crypto market?

[I Shrugged]

I have no expertise. I've previously opined that crypto is part of the everything bubble. If that is right, then sooner or later it will implode. This could be a prelude.

[ppnewbie]

I was about to go in but then I started learning about tether and I took a big and lucky pause. I heard something interesting - all those crypto’s tell you their price in dollars but it’s possible that there aren’t nearly that many dollars in the market. Maybe 50x less.

[dualstow]

Two possibilities -

bitcoin-in-the-vp, who is as knowledgable as anyone on the forum, perhaps the top man, did predict that it would crash again on its way back up. So maybe this will look like mere blip in the future;

OR

Crypto simply is not perceived as quality in a flight to quality, and perhaps it never will be because….take your pick. One example might be government regulation or fear of future regulation.
Gold may not be soaring, but it’s not going down.

[murphy_p_t]

Mr Ponzi came back to town. He has a 10 million lumen spotlight in his hand.

[ppnewbie]

Two good resources I have found. Youtube channel Coin Bureau and Arcane Research www.research.arcane.no
Coin Bureau is excellent as long as its clear he also subtly pumps crypto's in general.

[whatchamacallit]

I wasn't the first to say it but crypto is more stock like than gold.

May be there has been some border flight usage but otherwise it is mostly risk on speculation buy.

[ppnewbie]

I wasn't the first to say it but crypto is more stock like than gold.

May be there has been some border flight usage but otherwise it is mostly risk on speculation buy.

Thats what the Arcane yearly report says as well.

[Jack Jones]

I don't have spare fiat to be buying this dip, but I have still been keeping an eye on the peer-to-peer market I use to purchase Bitcoin. What's interesting is that nobody is actually selling at this price. If I want to buy Bitcoin right now, I have to pay an 8% premium.

[ppnewbie]

I don't have spare fiat to be buying this dip, but I have still been keeping an eye on the peer-to-peer market I use to purchase Bitcoin. What's interesting is that nobody is actually selling at this price. If I want to buy Bitcoin right now, I have to pay an 8% premium.

You may not want to answer this question but I'll ask it anyway. Are you using Bisq for the decentralized exchange?

[Jack Jones]

Yes! I've promoted Bisq on this forum in the past. The more the merrier.

Bisq is an example of the cool things you can do with Bitcoin the technology. You can send money orders to total strangers and be reasonably sure you won't be ripped off because both parties hold funds in escrow in a multi-signature wallet.

[bitcoininthevp]

I think its just a matter of inflation expectations into the future being lower, Fed tightening, deflation concerns, liquidity draining.

Once traditional things crash during this tightening cycle and the Fed turns the corner back to easing policies will probably be the bottom and time for a big BTC rally IMHO. Could be decent carnage in the meantime.

[ppnewbie]

I think its just a matter of inflation expectations into the future being lower, Fed tightening, deflation concerns, liquidity draining.

Once traditional things crash during this tightening cycle and the Fed turns the corner back to easing policies will probably be the bottom and time for a big BTC rally IMHO. Could be decent carnage in the meantime.

Agree - I am just trying to figure out if I am the sucker in the game at the moment. I need to use your collar strategy. But I’ve never done anything with options.