Since FED has revealet the news, will Bitcoin then rise now?

[clemens]

What your thoughts, the stock market seems to rise, will bitcoin do the same, are we over the worst?

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[Golden Fleece]

Bitcoin is now correlated to the stock markets. So, as the stock markets go, so does Bitcoin. The stock markets have been propped up over the past decade by artificially low interest rates. Now, because of the highest inflation rate in forty years, the Fed has been forced to raise interest rates.

So, what do you think will happen to the price of equities? Whatever happens to stocks will also happen to Bitcoin, but with far more severity because of its intrinsic volatility and lack of utility.

IMO, we are not even close to the worst. I foresee a full bear market and, eventually, a recession.

Last edited: Jun 16, 2022

 

[backpacker]

clemens said:
What your thoughts, the stock market seems to rise, will bitcoin do the same, are we over the worst?
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"The light at the end of the tunnel is just the light of an oncoming train."

US Treasuries showed some short-term relief but are now again in the red.
Asian stock markets are already retreating after a short relief rally in the early morning hours.

We will see many more rate hikes like yesterday.
The crypto market will suffer the most from it, in addition to its self-created problems where certain type of obscure companies are now falling like dominoes

• Crypto crash: What contagious risks could Celsius, Three Arrows pose? Here's what to watch
• Investors worry another possible crypto collapse will bring down other key players
• How crypto lender Celsius stumbled on risky bank-like investments

The worst is yet to come - keep your powder dry.

 

[SoNewToAllShit]

Sounds like it's going to be really bad for all. Anyway, most often when s**t hits the fan things are going to be better shortly.

 

[RealDude]

SoNewToAllShit said:
Anyway, most often when s**t hits the fan things are going to be better shortly.
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I don't think so. First come the waves of layoffs and cost-cutting programs in real-world companies.

 

[369]

clemens said:
What your thoughts, the stock market seems to rise, will bitcoin do the same, are we over the worst?
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don't get fooled why should the stock market raise at a 0.75 increase instead a 0.5 ,lagarde announcing of interest raise in EU and MOST IMPORTANT stop of buying EU members bonds by ECB which means countries with high debt will have no more buyers for their junk bond so they will go out of money soon since their interest rates for their bonds are exploding.
yesterday evening was a simple intervention by the institution which happens very often at the first day/days when bad news come out

Last edited: Jun 16, 2022

 

[Golden Fleece]

RealDude said:
I don't think so. First come the waves of layoffs and cost-cutting programs in real-world companies.
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I just read an article about that process. Yes, first comes the hiring freezes, then the cost-cutting directives, and finally the layoffs. Some crypto exchanges have already jumped directly to layoffs (e.g., Coinbase).

 

[clemens]

And that means we just have to wait for everything to stabilize and grow again, as it always does.

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[Golden Fleece]

clemens said:
And that means we just have to wait for everything to stabilize and grow again, as it always does.
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That works well for actual investors with a knowledge base and a plan. I personally have all my powder dry.

But there are people who invested their life savings in crypto who are committing suicide -- and that has been going on for more than a year. Just Google "Bitcoin suicide". Pages and pages of results appear.

Too many people have no idea what they are doing because they expected the free-and-easy ride of artificially low interest rates and the resulting asset bubbles to continue forever. Many of these people literally do not even realize that they are speculating -- and, in many cases, just plain gambling.

Ignorance, addiction, depression, and suicide are no joke.