Cryptos have sort of become a euphoria in recent days, so it seems the end is near... I've been seeing comments on youtube, WSB, and twitler slamming precious metals and commodities. Why? Because they know bitcoin is fiat... so it goes that pm that threatens fiat currency will also threaten bitcoin.
And on the topic of Tether: https://cryptofreewallet.com/2021/0...-new-yorks-attorney-general-for-18-5-million/
Dollar did a mini spike today, I think I’ll cash out of that account. Tired of waiting, overall trend seems to be down despite the volatility. Short term trade isn’t my forte.
BTC $400K.... then again, BTC could also gone south... https://www.9news.com.au/world/bitc...021-boom/44e18b93-67cf-4d4b-a62d-1d86a3d41b8a
^ I put more emphasis on BTC's fundamentals more than any tech analysis of how it is currently trading. As a result I'm not that interested in making comparisons between now and the previous bull markets because the fundamentals have altered radically in the past 6 months. There are plenty of other crypto projects that suit themselves better to tech analysis than BTC. XRP or Doge for starters.
https://99bitcoins.com/bitcoin-obituaries It never ceases to amaze me that some people sprout off like they know what they're talking about....but really its pretty obvious they have no f**king clue This sub-forum is full of them!
The crashes coming are going to be bigger and bigger, as the "pump and dump" is getting more intense. It's a pyramidal scheme. Consumes tremendous amounts of energy. In this form, Bitcoin cannot survive as a long-term currency. But I can imagine it going to several hundreds of thousands of bucks before it turns into a pancake.
It's going to survive as a store of value. Something else will step up to take on the currrency role! and there are currently plenty of options.
Crypto might be a limited UNSTABLE store of value until enough people embark and start believing in it. And the current fiat money is going bust. I think this will hyperinflate and the Fed/ECB/etc. will use the new crypto fiat as the new (more expensive) currency. People will have gotten used to the Bitcoin effect by then. So, expect the new official fiat cryptos to play a similar game. But I'm afraid they'd couple that with some form of rationing/limited use (they'd make sure most of people's fiat money turns into toilet paper and they won't be able to simply buy the new currency, which might be backed by gold). Just my imagination running wild...
Inb4 screams and yells of FUD. Enjoy your centralised digital assets of no intrinsic or tangible value!