BCT's drop and CPI Report 😧 | Bitcointalksearch.org

beerlover

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Quote from: btc_angela on September 23, 2022, 06:53:04 AM

everything that they can find and relate it to crypto they will do it. And the drop just shows how sensitive this market is, however, we all know that there is no central authority so everyone can play with their own rules, whether manipulating it for their own benefits, but it gonna be hard to do that without colluding. Speculators or whatever we call them, will be a huge part of the market though. So let's wait for the next CPI and see if it will have the same impact or not.

That's right, since it's decentralized it's all of us that decide on where the market will go. It's going to be something tough but at the same time it's not going to be a solution to us if we keep selling it, we should be buying as much as possible and that's how we are going to make that money back. Doesn't mean it's going to be easy, but it will certainly not be something incredibly difficult to handle neither.

We just need to stand our ground no matter what kind of news happens, and if we can arrange that we are going to end up with a good price, all we need is not to sell when there is a bad news, which has been what we have done so far.

btc_angela

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Quote from: buwaytress on September 18, 2022, 05:05:42 AM

Quote from: btc_angela on September 17, 2022, 06:05:53 AM

Quote from: buwaytress on September 17, 2022, 05:54:07 AM

I do find it funny that CPI seems to have more effect than other hardcore markers.

Probably it's because it has been magnified before and so up to know, every time there is a CPI news, everyone is glued to it and see what will it be this time. It's just unfortunate that the last one really put a dent more on crypto as compare to let's say stocks which has like 2% down, while crypto suffers 10% and up to know we are having a hard time trying to get to our previous round number support, which is $20k. Maybe its because we are in a bear market and so the argument that Bitcoin is hedge against inflation is a big question right now.

But that's the thing, though. I don't think CPI is as magnified as the rate hikes (or never thought it was anyway) -- certainly the only time I see mainstream covering it is close to and right after the numbers -- whereas the rate hikes get a lot of chatter.

So, leads me to think Crypto Twitter is the one fixated on CPI, and as you said, Bitcoin dropping more than stocks. Seems to suggest crypto speculators are still a lot more... abnormal than I'd thought.

Right, everything that they can find and relate it to crypto they will do it. And the drop just shows how sensitive this market is, however, we all know that there is no central authority so everyone can play with their own rules, whether manipulating it for their own benefits, but it gonna be hard to do that without colluding. Speculators or whatever we call them, will be a huge part of the market though. So let's wait for the next CPI and see if it will have the same impact or not.

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Quote from: cryptomaniac_xxx on September 14, 2022, 05:02:36 PM

And when we thought that the bleeding is already done, the price goes down again below $20k, an indication that indeed there is a huge sell-off still going on and people are now panicking. But let's wait, we haven't seen this negative news really having a huge impact for months. Maybe this week this will be felt, but after that, it's business as usual and we could be back above $20k again.

Yeah it happens frequently this is why I lowered my expectations for now. The cause of the recent dip might be those huge sells off that you are saying but I wonder who are doing that? Was it the whales? I don't see the reason for a common individual to panic right now because I never heard of a negative news or a fud lately and people must be used to this kind of scenario, you know where btc increase from $22k and $23k and then goes down again to $20k or $19k.

Quote from: Milan1009 on September 13, 2022, 08:36:28 PM

Which are the next events that you think will negatively impact BTC prices? I was thinking about the next halving, but I would also like to hear all of you guys’ opinions.

Halving is said to bring positive effect in the price of btc and all of the cryptos but halving was still too far and before we get there, there might be other negative events that we will be facing. Better prepare for it.

buwaytress

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Quote from: btc_angela on September 17, 2022, 06:05:53 AM

Quote from: buwaytress on September 17, 2022, 05:54:07 AM

I do find it funny that CPI seems to have more effect than other hardcore markers.

Probably it's because it has been magnified before and so up to know, every time there is a CPI news, everyone is glued to it and see what will it be this time. It's just unfortunate that the last one really put a dent more on crypto as compare to let's say stocks which has like 2% down, while crypto suffers 10% and up to know we are having a hard time trying to get to our previous round number support, which is $20k. Maybe its because we are in a bear market and so the argument that Bitcoin is hedge against inflation is a big question right now.

But that's the thing, though. I don't think CPI is as magnified as the rate hikes (or never thought it was anyway) -- certainly the only time I see mainstream covering it is close to and right after the numbers -- whereas the rate hikes get a lot of chatter.

So, leads me to think Crypto Twitter is the one fixated on CPI, and as you said, Bitcoin dropping more than stocks. Seems to suggest crypto speculators are still a lot more... abnormal than I'd thought.

bbc.reporter

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Quote from: pooya87 on September 17, 2022, 03:27:07 AM

Quote from: bbc.reporter on September 16, 2022, 10:51:18 PM

What we have witnessed to be very funny is those maximalists who try to convince everyone that bitcoin is a hedge for inflation. However, it was certainly made clear to everyone that this time of high inflation, bitcoin performed unsuccessfully and only during the time of low inflation where it performed like an inflation hedge hehe.

Well if bitcoin price remains close to $20k while other fiat currencies continue dumping in value that means it is a hedge against inflation because it doesn't need to soar to be a hedge. But it's too soon to say.

Additionally we are not just in an inflation alone these days. We have had inflation alone over the past couple of years and during that time bitcoin went from $3k to $70k.

Currently we are in a recession with inflation which is entirely different. Meaning people can not earn enough money anymore (hence the recession) while price of everything keeps going up (hence the inflation).
That's not to mention the two ongoing wars on food and energy.

However, what if the dollar becomes stronger in demand while bitcoin dumps below $20k? DXY is an index of the dollar versus a basket of currencies. It has been going higher since more than 1 year.

Inflation has always been present, however, it is low inflation. Before 2022 inflation was lower than 3% in America and the effects of this was not a problem.

It is weak during recession and inflation, what is reality showing us? Also, if we do not know the amount of leverage that pumped bitcoin from $3k to $70k, we do not know what we are investing in.

btc_angela

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Quote from: buwaytress on September 17, 2022, 05:54:07 AM

I do find it funny that CPI seems to have more effect than other hardcore markers. Take the rate hikes, for instance. They've not only been higher than expected in the last couple of announcements (and the coming one should at least be 0.75, which is higher than anything they'd predicted months ago)... but these haven't had the same effect as CPI.

Makes me wonder what kind of Bitcoin speculators are heavy in the market now.

But enough with this Bitcoin hedge against fiat inflation, why aren't we over it? heh

Probably it's because it has been magnified before and so up to know, every time there is a CPI news, everyone is glued to it and see what will it be this time. It's just unfortunate that the last one really put a dent more on crypto as compare to let's say stocks which has like 2% down, while crypto suffers 10% and up to know we are having a hard time trying to get to our previous round number support, which is $20k. Maybe its because we are in a bear market and so the argument that Bitcoin is hedge against inflation is a big question right now.

buwaytress

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I do find it funny that CPI seems to have more effect than other hardcore markers. Take the rate hikes, for instance. They've not only been higher than expected in the last couple of announcements (and the coming one should at least be 0.75, which is higher than anything they'd predicted months ago)... but these haven't had the same effect as CPI.

Makes me wonder what kind of Bitcoin speculators are heavy in the market now.

But enough with this Bitcoin hedge against fiat inflation, why aren't we over it? heh

pooya87

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Quote from: bbc.reporter on September 16, 2022, 10:51:18 PM

What we have witnessed to be very funny is those maximalists who try to convince everyone that bitcoin is a hedge for inflation. However, it was certainly made clear to everyone that this time of high inflation, bitcoin performed unsuccessfully and only during the time of low inflation where it performed like an inflation hedge hehe.

Well if bitcoin price remains close to $20k while other fiat currencies continue dumping in value that means it is a hedge against inflation because it doesn't need to soar to be a hedge. But it's too soon to say.

Additionally we are not just in an inflation alone these days. We have had inflation alone over the past couple of years and during that time bitcoin went from $3k to $70k.

Currently we are in a recession with inflation which is entirely different. Meaning people can not earn enough money anymore (hence the recession) while price of everything keeps going up (hence the inflation).
That's not to mention the two ongoing wars on food and energy.

bbc.reporter

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What we have witnessed to be very funny is those maximalists who try to convince everyone that bitcoin is a hedge for inflation. However, it was certainly made clear to everyone that this time of high inflation, bitcoin performed unsuccessfully and only during the time of low inflation where it performed like an inflation hedge hehe.

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Quote from: DeathAngel on September 14, 2022, 11:32:33 AM

If it wasn’t CPI then it’d be something else.

My thinking is also the same, we are in a bear market, so rallies and then dumping are fairly common during bear markets, CPI is just a good excuse for dumping, if not CPI would certainly be another FUds. We shouldn't worry too much about short-term events as there will always be bad news being spread during a bear market to drag the market down. That's how the sharks collect their bitcoins.

We are a long way from bitcoin's next big event, the halving event, an event that is believed to be the catalyst for bitcoin's price rise. So until then, there will be a lot of volatility, many are predicting that we haven't really bottomed in this bear season so the best thing to do is stay calm and well prepared to face tough days' upcoming towel.

Dave1

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^^ We did have some bounce or at least the bleeding stops around $20,300-$20,400.
But then again it went down below $20k 4 hours ago, but now it is again rising just on the $20,100 level.
So maybe we can say that we are going to have a sideway patter again maybe at least before the end of this week and then we will have to look at what will be the sentiments next week if we will hit that $21k again or not. It's just like that, when there is a CPI announcement the whole market will react.

STT

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Quite a nice recovery today in markets overall, surprised me and BTC is just crossing back the 12 hour average which indicates at least some element of sustainable strength to trade off. Its a really quite harsh set back but it was going too well not to be apprehensive of profit taking and so on. If you are trading purely speculatively, pays to be paranoid and the cpi figure date and time would be on every traders calendar. Market is jittery to say the least

A slight lack of numbers but lets say 21k would be a good area to regain for the positive outlook, similarly look for it as a ceiling and adjust outlook accordingly. This is just the beginning of arresting the fall in BTC for this week at least.

GreatArkansas

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I'm really confused about how the CPI report affects the Bitcoin price or market.
The difference was only 0.1 percent, from July to August, rose only by 0.1 percent.
So if the CPI report will decrease, are we expecting a pump on Bitcoin? I noticed that every time the CPI report is being released we are dumping, but this 0.1 percent only seems not that huge but a dump on Bitcoin happened.

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Quote from: Milan1009 on September 13, 2022, 08:36:28 PM

Which are the next events that you think will negatively impact BTC prices? I was thinking about the next halving, but I would also like to hear all of you guys’ opinions.

I'm not negative on that but mostly bullish because of what's on the record every halving cycle. Just take the example of the last bull run, halving occurs on 2020 and then the pandemic came and we all thought that the market was doomed but it wasn't.

The next halving is my biggest factor and belief that I have that faith on it because looking at the history, it's always been that very factor. Well, the cut of the miners reward and the demand factor, that's most likely surely will make the price higher of bitcoin.

It's incomparable to the altcoins halving or any update like this merging.

cryptomaniac_xxx

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And when we thought that the bleeding is already done, the price goes down again below $20k, an indication that indeed there is a huge sell-off still going on and people are now panicking. But let's wait, we haven't seen this negative news really having a huge impact for months. Maybe this week this will be felt, but after that, it's business as usual and we could be back above $20k again.

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Quote from: Milan1009 on September 13, 2022, 08:36:28 PM

Which are the next events that you think will negatively impact BTC prices? I was thinking about the next halving, but I would also like to hear all of you guys’ opinions.

This likely a speculation case so it needs to be moved on Speculation board. I'm always expecting a negative news when it's in a bear market and that's not a surprise on my end, most good things are getting covered in the media. For now I think, crypto is following the traditional market track (mostly), even with the ETH Merge, it's likely an unstoppable feat in this current market.

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There's a ~66% chance of a 0.75% hike and a 34% chance of a 1% hike coming up. The market reacted really harshly to the CPI rise, even though it was just a tiny bit more than expected.

But hyperinflation is mostly here to stay, imo. They can raise rates all they want, but then how is the government going to service it's debt? Printing money. I think they are backed up against a wall.

I think $BTC is the only long term asset out of this nonsense, that or real assets like housing, energy and food. But it will take a while for those to appreciate while the governments / central banks tank economies.

DeathAngel

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Stocks tanked following the news also. I’m not worried, we’re in a bear market & have been all year. It’s nothing to be concerned about. Bitcoin will rise again & reach new highs but we’re in a bear market. If it wasn’t CPI then it’d be something else.

We're just going to have to ride it out. Still opportunities for cheap coins so use this time to buy as much as you can. You will be handsomely rewarded.

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After the CPI data saw a straight away $2500 dump in Bitcoin. Just because of the CPI data release.The CPI data came in at 8.3%, which was expected to come in at 8.1%, because of this We got to see the dump in the Bitcoin.And the bull we saw turned out to be a trap.Currently, if we look, a very big event is coming, the merging of the ether.After that, there is the meeting of the FED on September 21. The higher CPI data is a clear indication that the rate will be higher in this meeting of the FED. That is, the rate can go from 75 bps to 100 bps.If the CPI data can come to 8.3% then the rate can also come to 100 bps.Which would cause a massive crash in Bitcoin.Rate means that the bank is increasing the interest rate.If 75 bps comes then the market can move a little bit more. But more chances are 100 bps which is more chances of bitcoin crash.bitcoin dump we can see in coming next few days and weeks.

Doan9269

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Quote from: Milan1009 on September 13, 2022, 08:36:28 PM

Which are the next events that you think will negatively impact BTC prices? I was thinking about the next halving, but I would also like to hear all of you guys’ opinions.

I will rather prefer going by the 2024 upcoming Halving which everyone believe could make a great impacy on the bitcoin volatility, we cannot eork by other network ad a determinant because they are different things entirely that ooerate on different network on the blockchain, this coming halving will definitely have high volatility, if you consider this recent price chart, you will ser that immediately the price went dip to $18k it prepare to brrak the ice over $22k but couldn't achieve that and yhis was an attempt made twice and we all presume that there may not be any significant increase onbthe price throughout thid year that will exceed $30k

Topic: BCT's drop and CPI Report 😧 (Read 233 times)