So you want to talk about gold's performance during market crashes only? This discussion should really be in the other thread, but anyway. It's generally accepted that there is a negative relationship between the USD and the POG. So if the USD drops then it's assumed the POG will rise. Also, if the stock market falls, generally the POG rises. During the last recession from about 2006 - 2010 gold performed very well. So if you'd picked up gold at pre-2006 prices then you would've made a nice little earner while those later to the game buying in at higher prices probably retained their purchasing power at worse. Post 2010 of course if they didn't adjust their portfolio to reflect gold's falling value the gains or at least the maintenance of their purchasing power could have been wiped out or reduced depending of course upon the DCA of the gold purchased. During the recession gold performed well as both a wealth protector and producer, after the recession it performed poorly on both accounts. And that rings true for most recessions/stock market crashes when compared to the share market: In the March 2020 crash every asset class fell in value, though it's not classed as a recession. S+P500: Gold: The S+P roared back into life and gold kept climbing on its merry way for a while as it had been doing since about 2015. Lastly what's the USD Index doing? We'll need to keep an eye on this one in the future.
i think the answer is no its not solvent https://www.coindesk.com/business/2...us-hires-restructuring-attorneys-wsj-reports/ 3ac rumoured to also be insolvent and using traders funds to avoid its own liquidations https://www.benzinga.com/news/22/06...nder-says-fully-committed-to-working-this-out sub 20k incoming.
These are the most exciting times ive had in crypto, just watching all this and waiting. This is more nail biting than the ride up was by far!
What's your time frame? A good short would have been a few weeks ago I think we might have a few shockwaves left but the timeframe for shorting gains is likely a long bleed-out till the bottom. The winter is setting in
Crazy times. I hope nobody here got severely burnt over recent times! Anyone expecting BTC to fall as far as 12k?
I think, it could botton at the same level as March 2020. Mind you, that's like a firesale. I would think the 300 week is a v strong support
You guys have got to snap out of your compulsive obsession of looking back at past averages to find buying support. As I have said before, we are in uncharted territory when it comes to cryptos, as rising interest rates and drying up of liquidity was not a factor in previous crashes, so drawing comparisons now with then is a fools' errand I think $12k is possible or even $5k if things deteriorate economically and stock markets crash like in previous big crashes. Find another hobby or interest to keep you occupied till the dust settles and the demolition is complete, instead of this neverending obsession to back up the truck and want to get rich quickly again.
watch the staked eth price for a front indicator, yesteday there was huge dumping of stketh that sent the eth price down. https://coinmarketcap.com/currencies/steth/
The Coin That Could Wreck Crypto As cryptocurrencies have plunged, attention has focused on a potential point of vulnerability: the market’s reliance on a so-called stablecoin called Tether. https://www.nytimes.com/2022/06/17/technology/tether-stablecoin-cryptocurrency.html Tether remains by far the most popular stablecoin. But over the last month, the number of Tethers in circulation has declined more than 7 percent. The circulation of USDC, a stablecoin that is supposedly fully backed by cash and U.S. Treasurys,has increased roughly 4 percent. “I can’t say I’m as confident about Tether as I am with USDC,” said Sam Kazemian, who runs Frax, another stablecoin project. Concerns about Tether have spread to Washington. When Treasury Secretary Janet Yellen testified before Congress last month, she noted Tether’s wavering from its $1 peg and called for greater regulation of stablecoins. The growth of stablecoins presents “the same kind of risks that we have known for centuries in connection with bank runs,” she said. Mr. Ardoino said Tether was eager to work with regulators to devise a global framework governing disclosures that stablecoin issuers must make about their reserves. But Tether has resisted more aggressive proposals, which would subject it to regulatory requirements like those of traditional banks. “Everyone’s freaking out — like, ‘I lost my life savings,’” said Mr. Collins, who founded Tether with Mr. Pierce and now runs a crypto venture called BLOCKv. “That’s a tragedy, but it’s just as much of a tragedy when someone says, ‘I went to a casino and lost my life savings.’ But that doesn’t mean let’s regulate casinos out of existence.” -- Well - at least they're admitting Tether's akin to an unregulated casino.