gone like last weeks pay https://www.wsj.com/articles/batter...tal-considers-asset-sales-bailout-11655469932
Lots of "Peter Schiff was right" videos popping up on the tube now and clips from the last 10 years wheres hes killed it. I dont listen to him much anymore but i respect the guy and i understand his opinions for the most part. I honestly think its too much common sense for most sheeple haha.
wow pretty wild, whales hunting liquidations under 18k was not what i expected. banks closed in usa on monday means no new fiat entering could mean it gets wilder.
I think his views are completely outdated. He's stuck in a commodity based currency time warp and therefore his opinions on the state of the economy, taxation and on cryptocurrencies etc are irrelevant for the times.
People forget the hype. Who said when celebrities start getting into stocks (and crypto) is the beginning of it's end. Not forgetting people pulling out for cash. You can't buy shit with crypto unless it's things to help calm the nerves... Did you buy at 28k? a week ago? aw bad luck! What about ~11k just around the pandemic 18 months ago? Did you cash out at as it was 60k+ 6months later!? No? Wait it was going to 200k by the end of 2021 says some geek with some bs prediction..or was it 2020 I forget LOL Just admit it going to ~60k was ridiculous I don't care what anyone says. We are all here on PM platform watching gold and silver (it's going to $100 an ounce back says someone back in 2010!) not budge at all! Will gold hit 2k again? Probably.. Crypto is HYPE Is it going back to 11k Yep. Is it going under 11k to 5k? Yes. Why? No more comfy government handouts while in lockdown no more stimulus no more living in a virtual la la land of sitting on your ass sending tweets and updating your facebook profile while watching your "cant buy nothing with it" crypto go "to the moon!". Game over. Time to cough up the CASH plebs!
It's not that he was right but when was he going to be right. Did he predict the pandemic? It's pretty simple IMO. Put a rare commodity in the hands of greedy plebs, furthermore put an virtual do nothing commodity charged with more hype than any commodity in history in those sames hands who believe in whatever social engineered crapola they read on socialmedia... A what have you got? I think they call it a ponzi scheme? No one is saying crypto was designed to be a ponzi, but there is no doubt it's value is determined by how many plebs buy into it. Any commodity can be over bought, however the fat on crypto was the ponzi cream on top of the cake for those who bought it at 5k. Those that know a commodities true intrinsic value keeping their cards close to their chest al the while telling everyone it's going to 200k... Probably dumped it at 60k anyhow... All that's left is the cream.
Normally I dont change my mind. But so happy I sold at $30k. def not digtal gold nor an alternate to stocks. its a pure momentum play and the is momentum is 50% lower
I don think the issue is Bitcoin per se, it's the credit derivatives. Ie: the wrapping of BTC and ETH on different chains and being used as collateral for other things. As the whole thing unwinds, prices fall but the assets of BTC and ETH remain unchanged. The issue was the financialisation of the space through defi and stablecoins. I'm ok to keep buying because of the halvings every 4 years. Still own gold just in case but it's my money to use. You could be in long dated bonds with no upside
Stocks have been hammered in the past few weeks too though mate, as you're well aware. If anything this presents a potential great medium-long term hold. I'll start DCA'ing back in when I feel the time is right.
Stocks have fundamentals that coins dont have. ie if PLS mines 10,000 tons of lithium it can sell or hold till the price is higher. Lithium is needed... is BTC
Most stocks have become speculative casino chips just the same as Cryptos. They once traded within a certain Price-to-Earning [PE Ratio] which no longer seems relevant amongst the stock market casino gamblers. Expect another 50% drop in sharemarkets and double that in Cryptos.
I don't think they can hold it. I would assume a lot of mines get into forward contracts to mitigate risk. I would assume there are large costs to holding inventory waiting for the market to turn.
Well I'd have to ask why you ever invested in the crypto space, if you don't believe it has strong fundamentals. PS - the Lithium bull market is cooked mate. Didn't you get the memo from Golman Sachs
