The fed rate hikes are already priced in. If there is a 75 bps hike next week, nothing will happen in the markets it’s already priced in. If it’s higher or lower than 75 bps then that’s a different story.
If you look at bond yeilds there are hints that the fed will be done hiking by end of 2022 and maybe even cut rates next year. Currently oil is down and most likely next CPI won’t be as high as it was for the last few months and it’ll calm the markets.
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This is proof that there is way too much leverage out there. The stock indices maybe dipped 25% from ATH and you got funds which are going bankrupt or have huge losses like this.
Bitcoin is another example, it broke $30K and look at all the lending platforms and capital firms like 3AC that went under.
Imagine what happens if stock market indices dip further and so does crypto. It will be carnage everywhere pretty much. Hence why I am assuming fed will start to cut rates next year.
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Investing observation. I don’t think I’ve seen this one before. However if you zoom in you will see it’s not always accurate.
If you relied on the indicator whenever it hit a new ATH you would sell too early. You can see a few times it spikes while price still kept going up afterwards.
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Did Elon Musk sell the Pico Bottom? As illustrated by him, not all geniuses make the right decisions in their lives. But from the pleb's viewpoint, we shouldn't worry. Bitcoin doesn't need Elon Musk, or anyone who doesn't take the time to actually learn and understand Bitcoin.
Plus be prepared, because Elon Musk might join Nassim Taleb and FUD Bitcoin like all of those BSV-Flat-Earthers, OR he might join Vitalik and his new shitcoin after Ethereum completes the move to POS.
No the price he sold it at is higher than the current price, so he did a good thing by selling it when he did. Most likely it was around $28-29K or so. I am guessing it went close to his buy in price and markets looked weak and they just sold due to pressure from investors in the stock. He most likely had no choice but to sell to save Tesla.
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I am too lazy to search but if you search for topic created by my nickname and you see that I called the top within a month or so. It went higher when I created the topic but it peaked shortly after.
Why? Because too many people were trading crypto in public in my area. Everywhere you went. People had their iPhones out and on TradingView or Binance and trading crypto. That’s how I knew it was the top.
Also that Jason Bourne commercial for crypto.com was icing on the cake.
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This is not a new scam. But it seems like a new one because it’s on the Tron network instead of Ethereum.
How does the scam work? Well without using a block explorer I am going to assume that the address has only USDT and no TRX correct?
Hence to send the USDT you need some TRX for the transaction fee. So you send some TRX and as soon as it’s confirmed they send all the TRX with the USDT to another account and you are scammed.
Very popular on ETH network however seems new on TRX.
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It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe
Who knows? Maybe he hired people to do an investigation after the Luna collapse. And his advisors told him to sell because due Luna and UST going to 0 pretty much it'll set off a huge liquidation cascade which is pretty much what happened afterwards. He did state that he might rebuy in the future and he also didn't sell his entire position so he might not be out of crypto completely. Or is was a decision by his board that he needs to protect Tesla's cash incase there is a big recession coming up.
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Its rare to have people actually mining with the R9 Fury. I remember back in 2015 they were very expensive and had many hardware defects and people either used the slightly less efficient R9 290X or they waited until the Polaris came out in 2016 and the efficiency was pretty much on par. After summer 2016, nobody really used the Fury for mining.
They were popular with gamers and most miners sold their Furys and bought some Polaris cards. So this is why you don't really hear too much discussion about the chipset. I think it was AMDs least produced chipset.
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Yes crypto seems to be recovering and stocks are also recovering. Tesla had earnings during and is up 10% and Netflix lost like 1M people and still stock went up.
CPI was horrible but last week spy finished positive and bonds are stable which means that people are assuming the fed will raise rates a few more times and then begin to cut them.
Also the hint here was the price of crude oil which dropped. Now most likely CPI prints will be lower than before.
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I think the OP doesn’t realize how poor El Salvador is and how rich China and USA actually are. Even if they bought 10x as many coins and Bitcoin did a 10x from here it still wouldn’t come close. The president buys very little every time he tweets.
Saylor and musk bought in the billions and the most El Salvador can buy is in the couple million or so. So won’t make much of a difference really. They just aren’t buying enough. Don’t understand most of the original post to be honest.
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I don’t think it was his idea to sell the coins but most likely the decision of the board. What is going on with the economy right now and how Bitcoin looked like it might break $20K (which it did after they sold) they figured it was best to liquidate their position at close to break even as possible and face as loss.
From what I remember they bought at $30K and sold 10% at $60K. So selling 75% at $29K is more or less break even. They needed to raise cash and with the stock going down due to his share selling and Twitter buying. They decided it was in the best interest.
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I remember in 2015 being so bored with mining that I decided to mod all my Bitcoin ASICs at the time. Back then there was little profit in GPUs most people just mined BTC with ASICs.
I had Antminer S3 that I made very quiet, enough to keep in an office. A loud Antminer S4 where I modded the voltage and made it as efficient as an Antminer S5. An S5 which I spend probably $50 on some very expensive (forgot the brand) high flow/quiet case fans to make it bareable to sleep in the same room.
Another s5 where I took an actual car muffler and tried to make it quiet. It was quieter however was just too bulky.
Those were the fun days.
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Generally in bear markets you don’t get these pumps. And even in a bull market you won’t get a 1000% pump in a day. I remember there rarely was a coin that did 100% and this was in a very strong bull market.
Only people that made 1000% gains were those that probably invested tons in Defi projects and had a good runner here and there while being rugged on some projects. Then there are those who made tons of NFTs. Or those that used Defi platforms and got 5 figures worth of airdrops. These days are long gone now…
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Yes all these projects had these huge APY and the investors didn’t suspect a thing? Even the large lending platforms that got shut down recently.
People basically assumed all they gotta do is borrow money at like near 0% interest and get >10% guaranteed yields and they assumed nothing would go wrong. It’s crazy the amount of money that was lost due all these lending platforms due to Luna collapse.
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Yes this is either a bull trap or we are all going to get short squeezed. Looking at the daily and weekly we are at major major resistance.
If these levels are engulfed then I am fairly sure $880 was the bottom due to the strength of this move. I think when we got 9.1% CPI last week and markets finished the week above that report, it suggests that many are thinking the worst is over.
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Nobody knows when the bottom will be. Many people here think they have it figured out but in reality they are just guessing. The bottom might of happened or it might not be for a couple weeks or months.
Best advice is just to by little by little. So if it goes lower you get to average down your cost and if it goes higher you average up your cost but lower than market value since you had a lower price previously.
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In my area, Bitcoin ATMs if anything seem to be flat or declining in value. Most likely reason is that many of them force you to KYC because they got no choice. And in the past those that didn't do KYC, they always had issues with banking partners.
If someone is going to KYC anyways they might as well just use an exchange and pay 1% fee instead of the 10% fee that most bitcoin ATMs charge. I think regulations are what is killing these bitcoin ATM off. I haven't used one in like 5 years as a result.
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For you to create a stablecoin you will need some type of proof that its possible to redeam this coin for actual fiat. This is going to be very difficult to do right now. Look at how many people fear USDT because they keep failing to produce audits. Thats why everybody is using USDC instead.
There are so many higher and stable marketcap coins out there, why would they use your stablecoin? I don't think this is a smart idea at all. I don't think we really need another stable coin, there are dozens of them out there already.
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The fact that Shib, a meme coin off Dogecoin has a market cap higher than Litecoin or FTT or LINK shows you the state of the market pretty much. Its crazy why this coin's value is still so high. Dogecoin I understand since Elon pumps it from time to time but Shib, I just don't understand.
I had a short on Shib a while back and assumed it would crash already but it still retains its value and I just don't understand why. Especially with the bear market we just had. The fact that last Summer lows still weren't breached tells you alot about the state of the coin.
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$30K is going to be nasty resistance if it gets there. Look at the daily chart, it was strong support and now will be strong resistance. You can guage the state of the market by what happens at $30K.
If it closes above $30K then you can say that $17K was the low and we will trade higher. However there is a good chance that $30K will get tapped and it'll try and head back down to new lows.
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