Cryptocurrency Thoughts on the current market situation?

Sledmore

Chaturbate Livestreamer
Staff member
FindRetros Moderator
Jul 24, 2010
5,159
3,798
Howdy,

Just figured I'd spark a discussion about the current market situation. If you haven't been following lately the market has seen quite a crash lately; although many analysts believe that the current bull run is far from over.

The total market cap went from around $2.02 trillion to $1.53 trillion (at the time of writing this post). Lots of mixed opinions with this, many believe that the correction was needed & was coming whilst a lot also believe that this is due to market manipulation. There is also other factors; talks of regulations in the US, reporting all transactions over $10,000 to the IRS & China enforcing stricter 'crackdowns' on crypto.

With all of this going on tokens on the BSC have suffered quite a lot; in fact $BNB has moved down from #3 to #5 on w/ $USDT (stable coin) & $ADA taking 3rd and 4th respectively. I don't really follow ETH considering the issues it has, so I'm not going to comment on ERC-20.

I can only assume that the majority of traders sold whilst they could for $USDT and are waiting for a buy in opportunity considering the market appears to be very volatile at the moment with no real sign of when we'll start to rise again.

You must be registered for see images attach


Curious to hear your thoughts on this current situation & whether or not you're still in?

Sources:

 

Parsov

Member
May 18, 2016
312
199
This might be a bit hard for me to explain but here we go:
I used to actually mine Monero some time back. I went as far as buying a few miners. I was able to sell in time when I realized there is literally nothing I can replace my virtual currency with. Whether it's buying bread or a car There was no real use of it.
That realization scared me away from crypto. Because I couldn't trade it for something I wanted. I guess it's more like Stock Exchange than actual money.

And I believe when people actually realise that you literally can't do anything with it. But buy and sell it they will distance themselves. Just like Elon Musk. I'm not fully aware of what completely happened as I am no longer in this Crypto thing.
But he said he'll sell teslas with crypto and then he realised that it was not efficient because what the hell will he do with crypto.
You have more accessibility with money. What you can buy with crypto is pretty much limited. For now it's dark matter. We don't even know who made it. Who's behind it. Yes it's decentralized but you should still be cautious. The growth is because of all the hype people thinking they'll make a lot of money when it goes up and when it does it motivates others to buy it also. But when it hits them that the world doesn't really care for crypto but for $. That's when they'll try to sell it but no one will actually buy it because no one needs it. And that's how everyone will lose their money. I don't think it will slowly fade away I think it will suddenly just crash.

You might argue saying but you can buy things with Crypto yes but it's very limited when we compare it to actual money.
Money has been around forever thousands of years the entire worlds structure has been basically based around it. You sell your ability for money and then for that money you go buy something from the store (Which was made by a guy who also sold his abilities). You see anything you do is basically money. And for cryptocurrency to be the same we need a long time.

I think it has a future and we will actually move to virtual currency. And literally have no physical money. But I don't think it will be Bitcoin or anything like that it will be the same money we have today.

So in short what I'm saying is The only reason cryptocurrency is blasting is because of the hype around it. (sort of).
And when people realize there is nothing to hype about because it's the equivalent of having Fornite coins they will try to sell it really fast but no one will buy it at this stage and people will lose thousands and millions.

I mean this is not really really acurrate but this is just what I think.
 

aa663344

New Member
May 27, 2021
2
0
You have to understand that markets get manipulated (mostly by the big players).
Now think how can you make money via manipulating the market?
Well you can make it pump up big and let it drop low, or you can just steadily pump and dump on small timeframes. To get more people into crypto (or because) those movements have slowed down somewhat.
But it is still present. That is why i am not into crypto you can t tell when something is just completely pumped up, because those guys can have any timeframe.
In the last years assets overall became more and more expensive, that also means you have to think about what to do when you made profit with an asset(crypto) if you sell, you have to reinvest -
but because asset prices steadily rise it doesn t make sense to sell because you haven t had a better option - so alot of people just hold crypto to almost any price which just makes it easy to rise further.
At some point supply and demand will kick in and correct the price.

#i don t think btc/ eth is crazy overvalued but trading with it is just too hard - buy and hold one can do
but not at the current prizes
 

Users who are viewing this thread

Top