Biden on Brink of 2nd US Bank Bailout - page 2.

pooya87

legendary

Activity: 3472

Merit: 10611

I believe the bank think in US is still on a small scale that is not any reason to compare it to 2008 collapse but at the same time we already know that US economy is in a very terrible shape which is obvious from the high inflation while FED desperately tries to lower it by increasing the interest rate to high values and still fails.

Quote from: tread93 on March 12, 2023, 11:33:26 PM

Are we seeing the beginning of the domino affect on US AND ALL GLOBAL BANKS?! Is the USD going to finally collapse? I don't think just yet, the FED is going to pull some strings to delay yet again but how much longer can they hold up the inevitable?

This is the important question.
We know that dedollarization has been happening for some time which is both a good news and a bad news. Good news for the rest of the world that they will be affected less by USD collapse the more they dump USD. Bad news for US economy since the world dumping USD would create hyped inflation in US since the dollar value collapses and in a couple of years it could be worth even less than Venezuelan fiat called Bolivar.

jeraldskie11

sr. member

Activity: 1316

Merit: 356

Quote from: tread93 on March 12, 2023, 11:33:26 PM

Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

People think that whenever there's a bad news that's the time to sell their holdings. And we can't blame them because every after the bad news, Bitcoin and alts are likely the price drops afterward. But in most cases, it's made to give an opportunity for people to get in.

Look what happened to the USDC after announcing the bad news that Silicon Valley Bank collapsed. USDC got a drastic drop but after a while it went back to 1$.

Just because there's a bad news it doesn't always mean that it's time to sell, sometimes it takes as an opportunity to other to buy.

Therefore, I believe that BTC are now getting bullish.

thecodebear

hero member

Activity: 2240

Merit: 848

Quote from: tread93 on March 12, 2023, 11:33:26 PM

The title sounds all too familiar, doesnt it? We are seeing this in real time and its pretty wild! This is one of the main reasons that Bitcoin was created, to create an alternative to the fiat trash money. Tomorrow morning President Biden will speak on the 2 bank collapses that happed in the past week, and of course he is going to follow in Janet Yellens footsteps assuring that the US Government will bail the failed banks out and that all the depositors money is safe, but with what money? The printers are running nonstop, they have to be. The US defaulted on their debt recently, I mean all the conditions are not looking great for USD.

Are we seeing the beginning of the domino affect on US AND ALL GLOBAL BANKS?! Is the USD going to finally collapse? I don't think just yet, the FED is going to pull some strings to delay yet again but how much longer can they hold up the inevitable?

Silver and Gold are being purchased like crazy, and people are buying more Bitcoin too the price is going up as we speak. What an insane week for the markets. Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

Bitcoin price is going up for the opposite reason. Bitcoin price shot up today precisely because the FED said they would make any despositers in Silicon Valley Bank whole. Meaning that USDC is back to having a full reserve. You're trying to argue that Bitcoin is going up for the opposite reason of why it shot up today.

Anyway banks failing is not good for Bitcoin. Maybe in the long term like over the decades as Bitcoin can move to replacing fiat savings for lots of people and fiat spending for lots of people. But 3 banks going under in the past few days is not good for anything. There's a reason why Bitcoin goes down when the economy looks bad or when there is bad economic news - because investors get scared and they sell their investments. Long term Bitcoin replacing some of banking is good, but short term banks failing is definitely not good for Bitcoin as people would just panic and among other things they'd get out of Bitcoin.

tread93

hero member

Activity: 1344

Merit: 583

Quote from: Don Pedro Dinero on March 12, 2023, 11:51:38 PM

I have seen it said in several places that this marks the beginning of another big crisis like the one in 2007. The worst thing if this is true is that we are already coming from an inflationary crisis, instead of like in 2007 when we were coming from a boom. In any case, we will soon see how this plays out. Starting today and in the coming weeks.

Quote from: tread93 on March 12, 2023, 11:33:26 PM

Silver and Gold are being purchased like crazy, and people are buying more Bitcoin too the price is going up as we speak. What an insane week for the markets. Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

Gold? Gold price has been practically flat for more than a year, and the recent rise of bitcoin price can be due to multiple causes. It is 1% in the last 24 hours, which means nothing.

The problem is that we have been in a scenario that seems ideal for bitcoin for some time now and the price of bitcoin has been falling steadily. The opposite of what we thought would happen in a high inflation crisis. In the end, the price of bitcoin is measured in dollars, and if there are fewer dollars available due to tightening policies, people invest less and even sell to get fiat, which means that the prices of gold, bitcoin and shares fall, which is what has happened.

I would like to see the price of bitcoin start to go up like a rocket from tomorrow, but I don't think we will see impressive price rises during 2023, let alone break 69,000 USD until after the next halving.

Man, wouldn't we all love to see 69k again that would be inredible, which we definitely will. Right now people are scared, hence the bank runs. If this continues we may see a nice run on gold and silver as a way to hedge and store of value. Metals exchanges are running out due to the increased demand caused by all the bank FUD. I do think it's odd that these seemingly great conditions for BTC to rise haven't sparked a huge rise in price. Maybe you're right though maybe the next halving is the next stop for a new ATH, which I think everyone is thinking. But if BTC can't rise to the occasion in these conditions I guess anything can happen. Where's a pro Elon Musk BTC tweet when we need it lmao 🤣

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

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I have seen it said in several places that this marks the beginning of another big crisis like the one in 2007. The worst thing if this is true is that we are already coming from an inflationary crisis, instead of like in 2007 when we were coming from a boom. In any case, we will soon see how this plays out. Starting today and in the coming weeks.

Quote from: tread93 on March 12, 2023, 11:33:26 PM

Silver and Gold are being purchased like crazy, and people are buying more Bitcoin too the price is going up as we speak. What an insane week for the markets. Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

Gold? Gold price has been practically flat for more than a year, and the recent rise of bitcoin price can be due to multiple causes. It is 1% in the last 24 hours, which means nothing.

The problem is that we have been in a scenario that seems ideal for bitcoin for some time now and the price of bitcoin has been falling steadily. The opposite of what we thought would happen in a high inflation crisis. In the end, the price of bitcoin is measured in dollars, and if there are fewer dollars available due to tightening policies, people invest less and even sell to get fiat, which means that the prices of gold, bitcoin and shares fall, which is what has happened.

I would like to see the price of bitcoin start to go up like a rocket from tomorrow, but I don't think we will see impressive price rises during 2023, let alone break 69,000 USD until after the next halving.

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: tread93 on March 12, 2023, 11:33:26 PM

Are we seeing the beginning of the domino affect on US AND ALL GLOBAL BANKS?! Is the USD going to finally collapse? I don't think just yet, the FED is going to pull some strings to delay yet again but how much longer can they hold up the inevitable?

We likely will see domino effects in a branch of bank industry with similar model of Silicon Valley Bank, Silvergate, Signature bank. However I don't think the domino effect will be expanded to banks with different models and are healthier than those bankrupted banks. FED and FDIC are trying to resolve the crisis and prevent domino effects to other banks especially banks with different operational models.

Quote

Silver and Gold are being purchased like crazy, and people are buying more Bitcoin too the price is going up as we speak. What an insane week for the markets. Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

I don't think it will make big effect on Bitcoin. Do you see in 2020 when WHO announced pandemic, people panic sold bitcoin. Later they think that pandemic gave Bitcoin chances and it rose up. Honestly, Bitcoin grows with time because of its design against centralization, hyper inflation. Governments, financial recession, collapses are only one of many things which can contribute for Bitcoin growth in long term.

In short term, risk is always here.

tread93

hero member

Activity: 1344

Merit: 583

The title sounds all too familiar, doesnt it? We are seeing this in real time and its pretty wild! This is one of the main reasons that Bitcoin was created, to create an alternative to the fiat trash money. Tomorrow morning President Biden will speak on the 2 bank collapses that happed in the past week, and of course he is going to follow in Janet Yellens footsteps assuring that the US Government will bail the failed banks out and that all the depositors money is safe, but with what money? The printers are running nonstop, they have to be. The US defaulted on their debt recently, I mean all the conditions are not looking great for USD.

Are we seeing the beginning of the domino affect on US AND ALL GLOBAL BANKS?! Is the USD going to finally collapse? I don't think just yet, the FED is going to pull some strings to delay yet again but how much longer can they hold up the inevitable?

Silver and Gold are being purchased like crazy, and people are buying more Bitcoin too the price is going up as we speak. What an insane week for the markets. Surely BTC has a chance for a huge upswing. I mean honestly this is looking very BULLISH for BTC, is it not?

Topic: Biden on Brink of 2nd US Bank Bailout - page 2. (Read 229 times)