bitcoin fall below $20000 , it's a messy thread. - page 3.

Marvell1

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Leading Crypto Sports Betting & Casino Platform

Quote from: crypticj on March 10, 2023, 02:22:20 AM

I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.

So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.

Be safe, bros.

If inflation starts to fall, they will stop raising interest rates but have no intention of lowering rates yet. I suspect a rate cut will only happen from mid-2024, and as you say, this year is still a good year to accumulate bitcoin.

Bitcoin has fallen by over 80%, so whether inflation continues to rise or lasts longer, DCA from this price level is the best fit. Although the world economy will not know where it will go, bitcoin always has surprises, so don't wait, let's collect it now. Don't get too greedy and expect bitcoin to drop to $10k, it's very unlikely.

pooya87

legendary

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Quote from: cafter on March 10, 2023, 02:36:21 AM

maybe i am wrong,
but BTC corelated with USA Indexes like S&P 500,nasdaq,etc

Apart from the panic sells that happen over the past 2-3 years from newbies who think there is a correlation, what you see is not a correlation between bitcoin and these indexes. It is a correlation between bitcoin and the global economy.

The best example is 2019 or the worse part of the ongoing pandemic. For example when US economy got dumpstered people started selling every asset they had hence crashing the stock market, one of the things they sold was also bitcoin hence crashing bitcoin also.
Interestingly enough when bitcoin started recovering early in 2019 and went up 330% in only 2 months all those other markets were still struggling to not-get dumped anymore. Ergo the lack of correlations.

Things are the same today. When the US inflation grows and they fight it by increasing the interest rate and fail to control inflation, it causes recession. In a recession people liquidate their assets. Bitcoin is not an exception.

Gayong88

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Quote from: cafter on March 10, 2023, 12:00:42 AM

what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news

It's also called the market can go up or down Grin

Personally, I think the decline in the value of btc is good news. That's because a decrease in value would mean better earnings for the miners. Also, many people don't really like crypto because of its rising prices. It will be very cool to see what the future holds for cryptocurrencies and how their popularity continues to grow.

I want to share my opinion. I think Bitcoin is a pretty good idea, the currency, while volatile, tends to fall in value. This is because supply is steady, so the world is becoming increasingly cashless and trust in government-backed financial institutions is falling, it is likely that Bitcoin will be seen as a safer option.

EarnOnVictor

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Leading Crypto Sports Betting & Casino Platform

What Bitcoin is facing now is the law of gravity, there is no way it would rise without retracing, but if it does this too much, a long-term bearish trend would be activated. The truth is that I have seen the coin on the bearish path since February, so what is doing now is not a surprise to me as I follow the trend of the market regardless of the noise attached to it.

As it is now, the $20k is a very good judgmental level, we've not had a successful break below it yet, but if we do, then a long-term sell might be activated.

cafter

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Quote from: pooya87 on March 10, 2023, 02:11:33 AM

The good news is that the effects of it is becoming less and less, specially since bitcoin at the end of the day is still a hedge against inflation and we are also seeing inflation. Additionally bitcoin has the only market that is known for not having any correlations with any other market. This makes it an excellent choice at times of economical turmoil.

maybe i am wrong,
but BTC corelated with USA Indexes like S&P 500,nasdaq,etc

BTC:
https://ibb.co/72XF7x6

Nasdaq:
https://ibb.co/jfmF2Jp

S&P 500:
https://ibb.co/F4ZYcqp

crypticj

sr. member

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I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.

So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.

Be safe, bros.

pooya87

legendary

Activity: 3472

Merit: 10611

It is both a good news and a bad news at the same time Tongue

As I've said before, the world economy specially in the West is getting worse every day and we see its effects in bitcoin price also. The bad news is that the recession is getting worse which has been putting pressure on bitcoin price, pushing it down. It is also not going to get any better any time soon.

The good news is that the effects of it is becoming less and less, specially since bitcoin at the end of the day is still a hedge against inflation and we are also seeing inflation. Additionally bitcoin has the only market that is known for not having any correlations with any other market. This makes it an excellent choice at times of economical turmoil.

UserU

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My passive income eBook @ tinyurl.com/PIA10

Oh, finally a time to buy!

Thanks... Silvergate? Grin

un_rank

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- Jay -

You are a Jr member ranked user and can post images directly. It is not showing up cause your link is broken and you did not use the [img] code tags. When posting images confirm all these and that it is a bbcode which is compatible with the forum.

- Jay -

cafter

full member

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https://imgur.com/a/ThcdvWN
when i trade for short term this type of dramatic big red and green candles give me so thrilling experience,(when the trade is going in my way also in opposite and also when i m not in that trade Grin

)
many of you who trade experienced it no? it's also like gambling thrill but here we can control our loses in gambling all our funds are at risk. for fun and entertainment trading is boring because we need to wait for patterns.
what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news
for me it's good news(not news, event) because i can accumulate more on discount .
oh, it became messy thread, no worry(why you will worry) you can reply by quoting lines.
my bad english ignore.

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