Cryptocurrency will crash even lower

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Tsar
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Posts: 4258
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Location: Somwhere, Maine

Cryptocurrency will crash even lower

Post by Tsar »

I decided to exit cryptocurrency for awhile. Only do short trades if I am highly confident of the direction.

At the moment:
There's too much inflation and real incomes are declining
Interest rates are rising
Energy costs are high
Disposable incomes across the West have fallen
Low interest rates are temporarily over
Stimulus from COVID-19 has been over
Europe has an energy crisis and high inflation. Europeans on average had much more money than Americans, especially Germans and West Europeans and Northern Europeans but that's temporarily changed to make most people about equal because of the cost of living crisis across the Western World.

I exited before I even read this news article.

https://www.investing.com/news/cryptocu ... ff-2945453

Seems like the FTX Hacker could possibly flood the market with Ethereum and drive it's cost lower. The hacker selling or swapping other coins and tokens for Ethereum is also likely why Ethereum has been doing so well since the crash.

Too risky with the possibility of a very rapid decline in value.

The War in Ukraine will also be escalating very soon. Russia is waiting for winter to launch their all-out attack. They're laying the foundation for that attack with the attacks on energy infrastructure in Ukraine. It's also why Zelensky did the false flag in Poland because he's desperate.

I definitely think there will be extremely high energy prices in EU this winter.

I think Ethereum could definitely be at $600-$999 before Spring 2023.

I'll probably make quick short-term trades if I think the probability is high but I wouldn't be buying and holding at current prices in the current geopolitical and economic conditions.
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Pixel--Dude
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Posts: 738
Joined: April 29th, 2022, 3:47 am

Re: Cryptocurrency will crash even lower

Post by Pixel--Dude »

Tsar wrote:
November 16th, 2022, 2:18 am
I decided to exit cryptocurrency for awhile. Only do short trades if I am highly confident of the direction.

At the moment:
There's too much inflation and real incomes are declining
Interest rates are rising
Energy costs are high
Disposable incomes across the West have fallen
Low interest rates are temporarily over
Stimulus from COVID-19 has been over
Europe has an energy crisis and high inflation. Europeans on average had much more money than Americans, especially Germans and West Europeans and Northern Europeans but that's temporarily changed to make most people about equal because of the cost of living crisis across the Western World.

I exited before I even read this news article.

https://www.investing.com/news/cryptocu ... ff-2945453

Seems like the FTX Hacker could possibly flood the market with Ethereum and drive it's cost lower. The hacker selling or swapping other coins and tokens for Ethereum is also likely why Ethereum has been doing so well since the crash.

Too risky with the possibility of a very rapid decline in value.

The War in Ukraine will also be escalating very soon. Russia is waiting for winter to launch their all-out attack. They're laying the foundation for that attack with the attacks on energy infrastructure in Ukraine. It's also why Zelensky did the false flag in Poland because he's desperate.

I definitely think there will be extremely high energy prices in EU this winter.

I think Ethereum could definitely be at $600-$999 before Spring 2023.

I'll probably make quick short-term trades if I think the probability is high but I wouldn't be buying and holding at current prices in the current geopolitical and economic conditions.
I hope not. I've got a few £ tied up in crypto investment. My father-in-law kept going on about how much Bitcoin was going to go up and it's just kept going down. My investment almost reached 10K in Bitcoin until that f***ing rat Bill Gates made a statement about Bitcoin mining being bad for the environment. I hope that guy enjoys the most painful and lingering death imaginable. Seriously hate the cunt
You are free to make any decision you desire, but you are not free from the consequences of those decisions.
Tsar
Elite Upper Class Poster
Posts: 4258
Joined: August 7th, 2012, 12:40 pm
Location: Somwhere, Maine

Re: Cryptocurrency will crash even lower

Post by Tsar »

Pixel--Dude wrote:
November 16th, 2022, 4:01 am
Tsar wrote:
November 16th, 2022, 2:18 am
I decided to exit cryptocurrency for awhile. Only do short trades if I am highly confident of the direction.

At the moment:
There's too much inflation and real incomes are declining
Interest rates are rising
Energy costs are high
Disposable incomes across the West have fallen
Low interest rates are temporarily over
Stimulus from COVID-19 has been over
Europe has an energy crisis and high inflation. Europeans on average had much more money than Americans, especially Germans and West Europeans and Northern Europeans but that's temporarily changed to make most people about equal because of the cost of living crisis across the Western World.

I exited before I even read this news article.

https://www.investing.com/news/cryptocu ... ff-2945453

Seems like the FTX Hacker could possibly flood the market with Ethereum and drive it's cost lower. The hacker selling or swapping other coins and tokens for Ethereum is also likely why Ethereum has been doing so well since the crash.

Too risky with the possibility of a very rapid decline in value.

The War in Ukraine will also be escalating very soon. Russia is waiting for winter to launch their all-out attack. They're laying the foundation for that attack with the attacks on energy infrastructure in Ukraine. It's also why Zelensky did the false flag in Poland because he's desperate.

I definitely think there will be extremely high energy prices in EU this winter.

I think Ethereum could definitely be at $600-$999 before Spring 2023.

I'll probably make quick short-term trades if I think the probability is high but I wouldn't be buying and holding at current prices in the current geopolitical and economic conditions.
I hope not. I've got a few £ tied up in crypto investment. My father-in-law kept going on about how much Bitcoin was going to go up and it's just kept going down. My investment almost reached 10K in Bitcoin until that f***ing rat Bill Gates made a statement about Bitcoin mining being bad for the environment. I hope that guy enjoys the most painful and lingering death imaginable. Seriously hate the cunt
Long-term, Bitcoin and Ethereum and a few others should do very well.

I have one cryptocurrency that I won't be selling or swapping anytime for a few years. However, that's because it's still relatively undiscovered and emerging as a powerful cryptocurrency.

Ethereum is already established and solid. Bitcoin also won't be going away anytime soon. But I predict that they will drop lower before they go higher.

Bitcoin will underperform because it's energy intensive and with higher energy prices and lower Bitcoin prices, it becomes less profitable in many countries to mine Bitcoin and try to clear transactions. This makes it so Bitcoin isn't likely to do as well as some others until energy prices return to normal.

Ethereum will likely outperform Bitcoin in the future because it has much more real world utilization and a powerful crypto ecosystem built on Ethereum.
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Pixel--Dude
Junior Poster
Posts: 738
Joined: April 29th, 2022, 3:47 am

Re: Cryptocurrency will crash even lower

Post by Pixel--Dude »

Tsar wrote:
November 16th, 2022, 5:29 am
Pixel--Dude wrote:
November 16th, 2022, 4:01 am
Tsar wrote:
November 16th, 2022, 2:18 am
I decided to exit cryptocurrency for awhile. Only do short trades if I am highly confident of the direction.

At the moment:
There's too much inflation and real incomes are declining
Interest rates are rising
Energy costs are high
Disposable incomes across the West have fallen
Low interest rates are temporarily over
Stimulus from COVID-19 has been over
Europe has an energy crisis and high inflation. Europeans on average had much more money than Americans, especially Germans and West Europeans and Northern Europeans but that's temporarily changed to make most people about equal because of the cost of living crisis across the Western World.

I exited before I even read this news article.

https://www.investing.com/news/cryptocu ... ff-2945453

Seems like the FTX Hacker could possibly flood the market with Ethereum and drive it's cost lower. The hacker selling or swapping other coins and tokens for Ethereum is also likely why Ethereum has been doing so well since the crash.

Too risky with the possibility of a very rapid decline in value.

The War in Ukraine will also be escalating very soon. Russia is waiting for winter to launch their all-out attack. They're laying the foundation for that attack with the attacks on energy infrastructure in Ukraine. It's also why Zelensky did the false flag in Poland because he's desperate.

I definitely think there will be extremely high energy prices in EU this winter.

I think Ethereum could definitely be at $600-$999 before Spring 2023.

I'll probably make quick short-term trades if I think the probability is high but I wouldn't be buying and holding at current prices in the current geopolitical and economic conditions.
I hope not. I've got a few £ tied up in crypto investment. My father-in-law kept going on about how much Bitcoin was going to go up and it's just kept going down. My investment almost reached 10K in Bitcoin until that f***ing rat Bill Gates made a statement about Bitcoin mining being bad for the environment. I hope that guy enjoys the most painful and lingering death imaginable. Seriously hate the cunt
Long-term, Bitcoin and Ethereum and a few others should do very well.

I have one cryptocurrency that I won't be selling or swapping anytime for a few years. However, that's because it's still relatively undiscovered and emerging as a powerful cryptocurrency.

Ethereum is already established and solid. Bitcoin also won't be going away anytime soon. But I predict that they will drop lower before they go higher.

Bitcoin will underperform because it's energy intensive and with higher energy prices and lower Bitcoin prices, it becomes less profitable in many countries to mine Bitcoin and try to clear transactions. This makes it so Bitcoin isn't likely to do as well as some others until energy prices return to normal.

Ethereum will likely outperform Bitcoin in the future because it has much more real world utilization and a powerful crypto ecosystem built on Ethereum.
Well at the moment my Bitcoin wallet balance is less than what I've invested into it :roll: I guess that's how it rolls. Have you heard about the cryptocurrency the bank and government want to get out there? Obviously so they can control and regulate it, which they can't do with other cryptocurrency.
You are free to make any decision you desire, but you are not free from the consequences of those decisions.
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Cornfed
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Posts: 10894
Joined: August 16th, 2012, 9:22 pm

Re: Cryptocurrency will crash even lower

Post by Cornfed »

The FTX debacle should be yet another warning that there is no future in any crypto associated with the Jews/banksters. Get out of all the establishment surveillance coins such as Ethereum.
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publicduende
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Posts: 4131
Joined: November 30th, 2011, 9:20 am

Re: Cryptocurrency will crash even lower

Post by publicduende »

Cornfed wrote:
November 16th, 2022, 6:46 am
The FTX debacle should be yet another warning that there is no future in any crypto associated with the Jews/banksters. Get out of all the establishment surveillance coins such as Ethereum.
To be honest, it's not that the US dollar, backed by 30 TRILLION DOLLARS national debt (and counting!) is worth a lot more than Dogecon...
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Shemp
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Posts: 1448
Joined: November 22nd, 2014, 7:45 pm

Re: Cryptocurrency will crash even lower

Post by Shemp »

publicduende wrote:
November 16th, 2022, 5:41 pm

To be honest, it's not that the US dollar, backed by 30 TRILLION DOLLARS national debt (and counting!) is worth a lot more than Dogecon...
That 30 trillion debt is the dollar. Fiat money is debt. No debt, no money.

Backing US government debt is the taxing power of the US government (taxes can always be raised) and backing taxing power is domestic police power and backing police power is military power. In other words, if it serves the interest of the USA ruling class to avoid inflation, government can simply seize every scrap of wealth in existence to pay off all debt, and that power is worth far more than the $30 trillion debt. In practice, governments usually prefer to go in the opposite direction and let the dollar inflate while ensuring police and military are well fed and otherwise taken care of.

Bottom line: Only secure wealth is to be part of police/military (but not low level because that can be dangerous) or member of ruling class or essential worker who cannot be easily replaced . All other forms of wealth can potentially be seized/destroyed by the government.
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Shemp
Experienced Poster
Posts: 1448
Joined: November 22nd, 2014, 7:45 pm

Re: Cryptocurrency will crash even lower

Post by Shemp »

publicduende wrote:
November 16th, 2022, 5:41 pm

To be honest, it's not that the US dollar, backed by 30 TRILLION DOLLARS national debt (and counting!) is worth a lot more than Dogecon...
That 30 trillion debt is the dollar. Fiat money is debt. No debt, no money.

Backing US government debt is the taxing power of the US government (taxes can always be raised) and backing taxing power is domestic police power and backing police power is military power. No such power behind crypto.

If it serves the interest of the USA ruling class to avoid inflation, government can simply seize every scrap of wealth in existence to pay off all debt. In practice, governments usually prefer to go in the opposite direction and let currency inflate while ensuring police and military are well fed and otherwise taken care of by simply seizing whatever they need.

Bottom line: Only secure wealth is to be part of police/military (but not low level because that can be dangerous) or member of ruling class or essential worker who cannot be easily replaced . All other forms of wealth can potentially be seized/destroyed by the government.
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