Crypto Market down 20% in 24 hours. Larger crash than the 1929 Black Tuesday, drop of 12% | |
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jlee2027
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jlee2027
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jlee2027
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jlee2027
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TerraFirma's Esoterrorist
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Anonymous Coward User ID: 83187766 United States 05/12/2022 12:28 AM Report Abusive Post Report Copyright Violation | So, it appears the argument that Bitcoin, et al, will increase because of weak national currencies is flawed because crypto is even weaker than fiat. Quoting: jlee2027 yes. currencies are oriented around nations because they represent national resources, including military. Bitcoin has no nation. It has no reference to any physical product like a gold or microchip stock. It has no company or genius like Elon. It's a pile of digits. I know of nothing like it in history. Even the tulip bulb craze had... tulip bulbs. |
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jlee2027
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Big Duke6
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The Rickest Rick Sanchez
User ID: 28011536 United States 05/12/2022 12:44 AM Report Abusive Post Report Copyright Violation | Buy the dip. The universe is basically an animal. It grazes on the ordinary. It creates infinite idiots just to eat them. The Rickest Rick Sanchez comments are meant for entertainment purposes only and should not be construed to reflect the feelings and opinions, implied or expressed, of the author. |
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Anonymous Coward User ID: 82695921 Singapore 05/12/2022 12:50 AM Report Abusive Post Report Copyright Violation | So, it appears the argument that Bitcoin, et al, will increase because of weak national currencies is flawed because crypto is even weaker than fiat. Quoting: jlee2027 yes. currencies are oriented around nations because they represent national resources, including military. Bitcoin has no nation. It has no reference to any physical product like a gold or microchip stock. It has no company or genius like Elon. It's a pile of digits. I know of nothing like it in history. Even the tulip bulb craze had... tulip bulbs. lol they all invested in Crypto HAHAHAHAHA HAHAHA its called greed Besos Musk Etc etc etc great balls of fire |
- NEO -
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TerraFirma's Esoterrorist
User ID: 58851912 United States 05/12/2022 12:57 AM Report Abusive Post Report Copyright Violation | So, it appears the argument that Bitcoin, et al, will increase because of weak national currencies is flawed because crypto is even weaker than fiat. Quoting: jlee2027 It acts like and tracks almost exactly the small cap, junk class bottom tier, highest risk and debt loaded NASDAQ tech stocks. Bitcoin/crypto and Tech do great in the former bull market environment of free Fed money with near zero interest and flat inflation in commodity prices. That market cycle is dead and no cat bounce can save it. Tech (w/crypto) led a great bull run and now they go to pasture...or the slaughterhouse...to wait for their next turn to lead. Tech sector has to wait in line for the other three market sectors to each have their bull runs, because that's how the wheel of fortune works. Commodities is next sector in line and it just started its bull run, which is forecast to be a once in a lifetime super cycle lasting for a decade or more. Then the wheel rotates and the banking/lending/finance sector takes the reins to have its turn. The Real Estate sector takes the helm next, has its boom and bust and then the wheel comes full circle back to Tech and Information in the lead. A wheel of fortunes gained and lost. Last Edited by TerraFirma's Esoterrorist on 05/12/2022 01:05 AM "Keep a weather eye to the chart on high and go home another way" –James Taylor Never Die Young |
CO SKY WATCHER
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jlee2027
(OP) User ID: 76568830 United States 05/12/2022 01:20 AM Report Abusive Post Report Copyright Violation | Close to a trillion dollars have vanished from the crypto market in the past 7 days. Last Edited by jlee2027 on 05/12/2022 01:20 AM |
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jlee2027
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