Yes I saw this and originally I assumed it was a fake photo however it seems to be genuine. What he said in the article is what he actually has been saying for years. I remember back in 2017 during that crazy bull run I think he said that he would quit ETH if people’s only main reason is to get rich off them.

This bull run with NFTs and Defi is no different. Most people are about the profits and not what coins like Bitcoin or Ethereum can do for the world in terms of money. Cryptos were created basically to bank the unbanked and many have lost sight of that when they are predicting of ETH going to $10K or BTC going to $100K.

I think the reason why it pumped so much is mostly due to the name APE. People know that those NFT apes brought in tons of money to anyone who was an early investor so when people saw that it was launched they all went on it like crazy and bought it up.

I’m surprised that during this sideways bear market we get pumps like these with new projects. Usually during a strong bull market this is an everyday occurrence but to see it pumping like this now goes to show that the crypto market is still alive and well.

I didn’t get a chance to buy, missed the run up and if it pulls back it’s too risky buying it.

Back in 2014-2015 everyday you got maybe 2-3 new coins released, all POW mostly under the Scrypt algo and usually they got listed on the top exchanges by volume within a week.

People would set alerts in the ANN section and as soon as a GitHub link was posted they would start to insta mine it. And it actually paid off when it got listed on the exchange. Way better than mining Litecoin directly.

These days, you can forget that. Most are erc20 token on the Ethereum network and you can’t mine that.

I really wish the real estate bubble would burst but it’s not that simple. People were saying real estate is in a bubble for the last decade pretty much and it’s still going up.

Real estate is different because they build houses slowly now and there is huge demand out there. The crash we got in 2008 would be great for home buyers however I don’t see it crashing that badly. Most likely we get some small 10-20% correction if anything.

Basically I agree with the replies above. The oil embargo won’t work unless all countries stop buying their oil because one country will just sell to another while buying Russian oil since they are not sanctioned. Basically it will all balance out.

I think this is the reason why the oil markets have cooled off. People realized that countries will just buy oil from other countries which don’t sanction Russian oil and in the end everything will be balanced as before. So this is why every country needs to sanctions all of Russian products if they want to have any affect on anything.

Right now all eyes are mostly on the stock indices. What the stock market does crypto will follow. So the question is what is the stock market looking at right now.

It’s mostly CPI and fed rate increases. So far we had our first increase and the market finished bullish. This is generally bad for markets but since it wasn’t 50bps the markets responded well. So we need to look into future prints. If there are any surprises it can crash the markets.

Second is the CPI. If we get a bad figure for April like 10% then many will invest in assets like Gold or Bitcoin as we have seen in the past. However keep in mind that the way this is going it looks like we might get a recession soon.

Here is the issue with these sanctions. Many countries banned Russian oil. However not all the countries. So think about it this way. The US imports less oil from Russia, so Russia exports the same amount to some other non sanction country and then Us imports oil from another country which isn’t Russia. It completely balances itself out.

The only way these sanctions will work is if every country decides to sanction itself from Russia and it’s obviously not the case here. So this is why these sanctions won’t exactly harm the Russians if they still conduct trade with China and other countries.

The way the markets are these days. What you think should happen means that usually the opposite will happen.

Remember last covid crash. People were expecting the last ATH of the stock indices to get tested. They said the stock markets will get hammered. And what happened instead? The biggest stock market rally we have ever seen.

Look at price of oil now. It’s at $100 and was $135 last week and before invasion was like $97. The entire move corrected itself. Tons of traders are now holding losing long positions from $120 and up.

It’s not that easy to profit off of anything these days.

They are saying this now because winter is pretty much over and they are assuming this invasion will be over and done with by the time Fall comes.

Like Elon Musk said in a tweet not too long ago, you just can’t make enough energy with renewable resources in a short time period. This solar panel idea will not work.

He said that those idle power plants need to be restarted because nuclear is perfect safe and he offered to fly down to one and eat some fruits grown in the region.

 You posted this and I almost thought I had Alzheimer’s or something because this seemed like it happened a long time ago. I kept reading and reading and finally it all made sense. This happened back in 2020, why would you post this today.

The complete opposite is happening actually. Oil stocks are doing very well. Keep in mind the Dow is only 30 stocks. Typically blue chips.

I don’t think it’s a great measure because there just isn’t enough stocks in that index to be honest. A better index is the SP500 which has 500 companies. Nasdaq is not good either because it’s more geared towards the technicals.

It’s just the way the markets work.

Keep in mind that you are one participant. There are millions of other traders like you. When all of them sell because they give up, there is no more selling to do. So if the market can’t go down anymore it reverses and goes up.

Now it’s the same when it goes up. People buying like crazy and nobody wants to sell because they want $100K or something crazy like $250K. So it tops because the whales sell to all the new retail and then it starts to drop and drop fast.

Need to do the opposite if you want to make it in this game.

You probably won’t find any better deals. Even if the bear market comes, GPUs might be in more supply however you need to understand that miners won’t be giving them away. They might be a little cheaper than today but they know that some gamers will buy them anyways.

I’ve mined for years and GPUs were never cheap in bear markets with a regular economy. Meaning no supply constraints. So with all these shortages I don’t see GPUs selling for pennies on the dollar. They will never be bargain deals.

This inflation is basically the reason why the stock market and cryptos are correcting. When inflation is this high the fed reserve has no reason than not to increase rates. Rates will increase but the question is how much.

Last month they were predicting 50bps rate increase however after this invasion and rallying gas prices they might move it back to 25 bps and most likely they will raise it every meeting until the end of the year.

If a recession starts then who knows what they will do then. Might have to reduce rates again and the cycle will keep repeating.

I don’t think the NATO was the main reason for the invasion because Ukraine said they would not join nato last week and the war is still on going.
They have these peace talks but it seems that they don’t resolve much. I don’t think it will end with peace talks.

The sanctions are bad but I have a feeling that Russian planned this years in advance and are prepared for all these sanctions. Putin and Russia have lots of money and assets such as gold. This can go on for years.

Other countries don’t want to directly intervene because they are scared of Putin and don’t want an invasion themselves. They know he is crazy and nobody knows what his limits are.

Do you guys remember how Bitcoin was breaking down a couple weeks prior to the Elon musk Tesla Bitcoin buy announcement? Even though they bought over $1B worth the price still kept going down. It only rallied afterwards because it was announced.

So since we are in a down trend, even if they buy $500M on the open market the price will still most likely trade sideways or go down if there is enough sell pressure. These days 1/2 a $1B isn’t as impossible as it seemed a few years ago, Bitcoin is very liquid now.

Yeah our electricity pretty much doubled since last year. For those with gas guzzlers or heavy SUV they are suffering whenever they are at the pumps. These last few days wherever I go there is always people complaining about the expensive gas prices. You can already see deals on many huge trucks and SUVs with big V8 engines.

What will all this lead to ? Well most likely a recession will follow which will quickly correct all of this. The price of oil will crash. The CPI will be negative most likely and real estate/cars will be cheaper since most people will be out of reach to buy one.

This war does affect Bitcoin price but it’s not affected directly. By being affect directly would be if the Russians all bought Bitcoin with their rubles and caused the price to sky rocket. Which is not the case.

The way the way affect Bitcoin is that Bitcoin follows the global stocks. Not all the time but since covid it follows them pretty well.

So if the stocks start to go down due to the war so will Bitcoin. If the war is bullish like those analysis says then Bitcoin will follow stocks and also go up.

Going to post an update to this.

This was confirmed to be mostly likely false by many people including some exchanges. Basically it was put out there just to get people scared and sell their coins most likely.

In the article they were claiming of selling $6B worth of Bitcoin, so if true would create a massive dump. However without a reliable source and the fact that why would you exchange safe assets for an asset that can be frozen like real estate, which doesn’t make sense at all. So we can all call it false news.

Trading indicators work well if you are in some trend, they don’t work well when there is chop which is what we are experiencing right now.

We peaked in Nov and it keeps dipping and dipping. So right now i would say trend is down. However we had a failed low on the daily and had good momentum on the invasion news. So right now it’s tricky what will happen.

Needs to break the daily pivot to the upside and then we can look for longs.

I don’t think anyone got rich buying Bitcoin last cycle. Let’s say they bought at $19.5K because they were anticipating a break out from the old $20K ATH. Unless they sold at 3x where they would of made 200% it’s not going to make anyone a millionaire.

Last cycle was all about the Defi, airdrops, NFTs, Meta, etc. Those were the real money makers. There were some many airdrops, many in the 4-5 figures that they were pretty much giving money away. Bitcoin never gave that. The time when Bitcoin made millionaires was during 2016-2017 before it broke $1K ATH.