Crypto has passed the stress test so far IMO

bartosimpsonio

bartosimpsonio

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Three of the largest crypto players went bust in this crash and prices are still holding up somehow.

Look at all the shit happening right now. The economy is a wreck everywhere, a big war, inflation, rate hikes, recession, a fucking pandemic still raging and somehow the crazy internet magic money is still functional.

I think crypto has been stress tested and passed quite well if you ask me. Just my opinion. I am kind a bullish admittedly but I do think there's reason to be. Crypto has been pretty resilient throughout this mess.
 
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Very frustrating, the top coins don't seem to move much. It would be nice to find the next Shiba Inu type token. I bet we will know about it on here and not miss out this time around.
 
starcity83 said:
Very frustrating, the top coins don't seem to move much. It would be nice to find the next Shiba Inu type token. I bet we will know about it on here and not miss out this time around.
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Hunting for the next Shiba Inu shitcoin is going to get you wrecked over and over. Bitcoin and Ethereum already provide unheard of returns with the most institutional support. Shiba Inu is once a cycle returns. Scratch lotto tickets if this is what you need. At least they are regulated to give some return back to the public.
 
After 90% drop, 20% pump won't help :anyway:
 
bartosimpsonio said:
Three of the largest crypto players went bust in this crash and prices are still holding up somehow.

Look at all the shit happening right now. The economy is a wreck everywhere, a big war, inflation, rate hikes, recession, a fucking pandemic still raging and somehow the crazy internet magic money is still functional.

I think crypto has been stress tested and passed quite well if you ask me. Just my opinion. I am kind a bullish admittedly but I do think there's reason to be. Crypto has been pretty resilient throughout this mess.
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the real drop hasnt begun yet, that's what's worrying
 
dextro_e said:
After 90% drop, 20% pump won't help :anyway:
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Right, but there was a reason for the 90% drop. Some folks with tens of billions of $ dumped it all between april-june. Some of them may even be in deep trouble for it (police).

While the fact remains most cryptos are down a lot, you gotta realize it's still a trillion dollar business. That's the point.

spectrejoe said:
the real drop hasnt begun yet, that's what's worrying
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Is it gut feeling or is there something major we're overlooking IYO?
 
bartosimpsonio said:
Right, but there was a reason for the 90% drop. Some folks with tens of billions of $ dumped it all between april-june. Some of them may even be in deep trouble for it (police).

While the fact remains most cryptos are down a lot, you gotta realize it's still a trillion dollar business. That's the point.



Is it gut feeling or is there something major we're overlooking IYO?
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Alright so, historically, all major drops are always because of either some major economic issues OR overall global economic issues.

Currently we have:
- Covid
- Supply issues
- Food shortage due to Ukraine being a major supplier
- Russia / Ukraine War
- Electricity going through the roof cuz war
- Highest inflation in 40 years
- We only pumped in 2020/2021 hardcore due to high inflation
- Deflation hasn't even began (Rates need to be at least 2x more than they currently are)
- Fed wants to remove 1.1T per year, that's deflation, if we had such massive pumps due to inflation, what do u think will happen if the fed removes 1.1T from circulation per year?
- Fed wants to return the USD Circulation back to pre-covid levels (Aka remove 5-6T from Circulation, at 1.1T a year that's ~5 years... Doubt this will happen tho, the fed doesn't have the balls as this would lead into a severe depression)


This is definitely not your "average" bear market.

Average bear market length is 9.6 months, we're only 7 months into the current one.
Average bear market bottom is 34-36% drop, we have only dropped 22% iirc

And that's for average, I would assume the current bear market will be worse than your average bear market (Look at 2008 for example).

Also, this is stats for SPX, but same applies to BTC since BTC won't pump if SPX is dying
 
bartosimpsonio said:
Three of the largest crypto players went bust in this crash and prices are still holding up somehow.

Look at all the shit happening right now. The economy is a wreck everywhere, a big war, inflation, rate hikes, recession, a fucking pandemic still raging and somehow the crazy internet magic money is still functional.

I think crypto has been stress tested and passed quite well if you ask me. Just my opinion. I am kind a bullish admittedly but I do think there's reason to be. Crypto has been pretty resilient throughout this mess.
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btc went from a high of 64k in 11/21 and is now at 21k give or take.. thats a 67% drop. Good luck with that..
 
b1step-ahead said:
btc went from a high of 64k in 11/21 and is now at 21k give or take.. thats a 67% drop. Good luck with that..
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The stock markets are also down. Like 30 to 40% or more. But here's the catch: the entire crypto space is like 1 trillion right now. That's the same as just one stock, e.g Apple.

Crypto is a totally decentralized person to person thing which is down 67% as you say but in terms of $ it's like a fraction of the totally regulated much hyped stock market.

Pretty remarkable if you ask me. That's the point of this thread.
 
I think BTC has proved itself over and over again. If the market crashes, BTC will follow but so far, I am hopeful that it will not vanish as some people had predicted.
 
Except for people who invested in 2010 or so, everyone is in loss. Good test it has passed.
 
starcity83 said:
Very frustrating, the top coins don't seem to move much. It would be nice to find the next Shiba Inu type token. I bet we will know about it on here and not miss out this time around.
Click to expand...
there is a coin like that but you need take a risk to invest on it. very high risk and high reward lol.
 
spectrejoe said:
Alright so, historically, all major drops are always because of either some major economic issues OR overall global economic issues.

Currently we have:
- Covid
- Supply issues
- Food shortage due to Ukraine being a major supplier
- Russia / Ukraine War
- Electricity going through the roof cuz war
- Highest inflation in 40 years
- We only pumped in 2020/2021 hardcore due to high inflation
- Deflation hasn't even began (Rates need to be at least 2x more than they currently are)
- Fed wants to remove 1.1T per year, that's deflation, if we had such massive pumps due to inflation, what do u think will happen if the fed removes 1.1T from circulation per year?
- Fed wants to return the USD Circulation back to pre-covid levels (Aka remove 5-6T from Circulation, at 1.1T a year that's ~5 years... Doubt this will happen tho, the fed doesn't have the balls as this would lead into a severe depression)


This is definitely not your "average" bear market.

Average bear market length is 9.6 months, we're only 7 months into the current one.
Average bear market bottom is 34-36% drop, we have only dropped 22% iirc

And that's for average, I would assume the current bear market will be worse than your average bear market (Look at 2008 for example).

Also, this is stats for SPX, but same applies to BTC since BTC won't pump if SPX is dying
Click to expand...

Correct but I think we've read the tea leaves different. The fed never returns to the previous thing. They just inflate assets. Pre covid is never gonna get reached IMO.
 
bartosimpsonio said:
Correct but I think we've read the tea leaves different. The fed never returns to the previous thing. They just inflate assets. Pre covid is never gonna get reached IMO.
Click to expand...
I don't think so either but we need more rate hikes to get back to normal inflation rates, possible even a few months of deflation then the fed will begin easing up. Don't think we're quite in a recovery yet but I can be wrong
 
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