Topic: Can we agree BTC is not a store of value? - page 7. (Read 774 times)
Not even gold is store of value in this climate, I’m watching at everything getting dumped and that’s absolutely out of this world, no logic behind what’s all the number ticking, but don’t be fooled, everything would adjusted to normal over the time amounting to weeks, months or even years, nobody can manipulate the true value of any asset forever.
Bitcoin is not a good store of value because the very people who claim to be supporting it are full of doubts about its future anytime its price drops. We need to learn how to trust the volatile system and also learn how to hodl during these times but in reality you can tell what people should do with their money so it ends up being dumped on the market. That's exactly what we are seeing at the moment with all the panic selling which is crushing the price of bitcoin.
Nothing is a store of value at the moment. Global markets are down, gold, silver, copper and platinum are down, oil and gasoline are down, corn, wheat, cocoa, and coffee are down, futures are down, FTSE, CAC, DAX, IBEX, Hang Seng, Nikkei, Shanghai, RTS, ASX are all down. The only reason NASDAQ/Dow Jones/S&P have stabilized a bit today is because the government have cut interest rates yet again, now down to 0%, and announced yet another round of quantitative easing (although did the last round ever actually finish with all those "overnight" repos?) to the tune of $700 billion, with much more likely to come.
Everything is decimated at the moment, but the Fed have moved too early and are now out of ammo. They have nowhere to go from here other than printing even more money even faster than they already are, or negative interest rates, which will be a disaster for them. When fiat is rapidly devaluing because the Fed are injecting trillions in to the system, and you have to start paying your banks for the privilege of them holding your money, where do you think people might turn? This is only just beginning.
Everything is decimated at the moment, but the Fed have moved too early and are now out of ammo. They have nowhere to go from here other than printing even more money even faster than they already are, or negative interest rates, which will be a disaster for them. When fiat is rapidly devaluing because the Fed are injecting trillions in to the system, and you have to start paying your banks for the privilege of them holding your money, where do you think people might turn? This is only just beginning.
We can never agree on that because each individual investor have their own narrative. By the way, this topic is related to this https://bitcointalksearch.org/topic/do-you-think-bitcoin-has-an-identity-crisis-now-5232642
Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.
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