Bad feeling like a bomb is gonna go off - page 4.

Dave1

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

It's ok we understand your concern about stable coins, perhaps one of the reasons is that SEC categorized BUSD as securities in which Paxos disagrees,

Quote

Paxos categorically disagrees with the SEC staff because BUSD is not a security under the federal securities laws. This SEC Wells notice pertains only to BUSD. To be clear, there are unequivocally no other allegations against Paxos. Paxos has always prioritized the safety of its customers' assets. BUSD issued by Paxos is always backed 1:1 with US dollar-denominated reserves, fully segregated and held in bankruptcy remote accounts. We will engage with the SEC staff on this issue and are prepared to vigorously litigate if necessary.

https://www.prnewswire.com/news-releases/paxos-issues-statement-301745616.html

So this might be the start though, and that's why many stable coins are below 1 dollar.

That statement or ruling from SEC really put all the stable coins on the limelight again, and it doesn't look good to be honest.

crypticj

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I agree with you. I feel the same way. Probably because the recession is still happening and rates are pretty high. And statistically, we can see that there is always a big breakdown happening after the fed pivot. So I think this time we will see it too.

Bialke

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Oh, man, took the pressure away from you! There is a good thing to let things go: Wanky, wanky or less blue ones!

If you think Stablecoins are crashing, bet against stablecoins. If you think the market is falling, bet against the market!

And for the investions: The money which is builders helping to build. Be sure: Builders will build and world changers will change worlds.

Wiwo

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its a strong enough feeling I just had to say something. Good luck!! Brandon

This feeling will definitely not go away and its part and parcel of the cryptocurrency market most especially when you constantly do a dollar cost avaraging.
Most stablecoins are below their dollar cost and even though they recover back to $1:1 it won't take long before the price still slide a little below that and sometimes $0.98.
-This is something that we should get used to as long as the market continues to either recover or slide further.

JANUS23

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This is crypto. It is gonna keep afloat and tread water, before breaking into a run. This BUSD hullabaloo would die down because right now it is still a store of value

South Park

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

Small variations on the price of stable coins are normal because as most people know their supposed reserves have always been up to question and this makes them to be not as stable as they should be, however I do not know if you are worried about a complete collapse of a stable coin or something similar, and if that is the case then the solution is easy, stop holding stable coins for the long term and instead get some bitcoin and you will be protected from such a potential crash.

Xal0lex

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Actually, many stablecoins have lost their bind even during the bullrun, which is not to say that anything very bad should happen soon. The collateral of these stablecoins itself is questionable and they price these tokens are not as stable as they should be, judging from their name. You don't even have to talk about algorithmic stablecoins, they were born to always experience de-peg. I think, if some major correction happens, then such stablecoins as DAI, USDC, BUSD won't suffer much.

dothebeats

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Does this mean that most of the time in the crypto market, a bomb is ticking off? Sideways markets have always been a characteristic of the crypto market, and what's happening right now is pretty similar. As for stablecoins, of course they won't really be trading far off from one dollar as that is what their purpose are. If they stray too far from their intended valuation, then Tether or any other organization handling those stablecoins would do the necessary adjustments to keep the price up or down to acceptable levels.

Argoo

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

Dollar-backed stablecoins will function normally until something terrible happens to the dollar itself. Until then, their rate will fluctuate upwards within one dollar, deviating very slightly from bitcoin units. So far, there are no particular reasons for concern. The economy of the United States and almost all other countries is now in decline, but this state is temporary. This has happened before, and more than once. All falls are inevitably replaced by a period of economic growth.

o48o

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

What are you talking about? for a couple years now stable coins have been more stable then ever. And what is this 2-5% growth? That just seems like a lie. Name those stable coins, every stable coin i looked at seemed acting perfectly normal with like 0.02% waving.

Please show me the screenshots of the charts or links to charts you were looking at or i will just rule this out as fud. (aka: "pics or it didn't happen")

tabas

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

As you have noticed those percentages gains/losses in a website like coinmarketcap, you don't have to worry about stable coins. We're actually experiencing some blood bath for the start of this week and that's normal. If you're feeling bad for today and tomorrow, that's okay.
That's the uncertainty that everyone feels when we see the market isn't going up and that's a normal encounter as you stay on this market.
A bomb or not based on your description, we've seen the market went up and recovered a bit so, it's expected that it shall go through a correction.

dwminer1

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

You must be reading the charts wrong or looking at really exotic stable coins. Major stable coins such as USDC, USDT, DAI are holding around $1. The 24h low for BUSD, after the bad news from the SEC, is 0.9988, so it's -0.12% against $1, so no need to panic for now. However, this does not change the fact that we have recently witnessed increased SEC activity, very unfavorable for the world of cryptocurrencies. You're right that we should to be vigilant.

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Quote from: bwills46 on February 13, 2023, 05:00:14 AM

I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

Are you talking about correction is due to happen after these continues surge of Bitcoin and some cryptocurrency? Well, we already have seen the price of Bitcoin being corrected probably it is affected by the news about SEC cracking staking on some exchanges. It did bring some bad news and we have seen how the market sentiment reacted negatively. There is even news about bitcoin to possibly retest $20k since it is looking for support on that area[1].

[1] https://www.coindesk.com/markets/2023/02/13/first-mover-asia-bitcoin-might-test-20k-as-it-looks-for-support/

bwills46

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I know Crypto had a heck of a run a week ago, and it is giving back which is normal. They have been getting beat real bad and its not stopping. I was on Coin Market Cap an hour ago, and looked at the stable coins. They are all except USDT well below a dollar. All were up 3 to 5% today and still wasnt up to a dollar. They were moving around like they were being fed to try and stay in their dollar spot. I got a bad feeling about today and/or tomorrow. Keep close eye out and react quickly. Hope I am wrong, but its strong enough feeling I just had to say something. Good luck!! Brandon

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