Is crypto winter setting in.. and how long will it last - page 3.

GreatArkansas

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Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

(....)
Bill Gates has called Crypto, NFTs as Based on ‘Greater-Fool’ Theory
Yet many other well read people like American billionaire businessman David Rubenstein said that crypto would not go anywhere despite the ongoing market correction.

Yeah, just a normal correction or a winter market which is normal for a market. We all know that there will be always a bear market and bull market, it's not always "UP ONLY".
Another thing for me is if you notice, it's not only the cryptocurrency market that suffers, look at other markets especially stock markets, blue chips, or internet companies, and most of them are bloody too, so for me, very natural.

avikz

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Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

Many crypto exchanges are laying off employees. Recentlycelsius recently has limited the withdrawal
Bill Gates has called Crypto, NFTs as Based on ‘Greater-Fool’ Theory
Yet many other well read people like American billionaire businessman David Rubenstein said that crypto would not go anywhere despite the ongoing market correction.

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

Look at the bigger picture! Do you think only crypto is affected? Look at the global stock markets! Today morning I looked at my stock portfolio and it mostly in red except some well performing companies. My crypto portfolio is also in red except ETH which I acquired at $450 range. So the global market is crashing. It's not only cryptocurrency. So I don't bother what others are saying and what theory is being invented, crypto is here to stay for our lifetime! So I am indeed acquiring more bitcoin as per the limit of my pocket. Crypto winter usually lasts for 3 years as seen in the previous instance but no one really knows what will be the reality this time.

Also I agree to Bill gates on NFT. It is indeed a scammer's tool and a playground for money launderers. So NFT may go down to drain rightfully, but crypto is indeed going through a bad time like any other markets and it is the best time to invest in.

LogitechMouse

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Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

Bill Gates has called Crypto, NFTs as Based on ‘Greater-Fool’ Theory

I don't know what is Greater-Fool Theory but for me, I will be a fool if I will follow what Bill Gates will say that relates to crypto.

Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

It's very hard to predict.
During the 2017-2018, the correction took 371 days before it reaches the bottom and after that it started to recover again. Base on what happen, we can say that it might be at least 371 days or more than 371 days before it will start to recover again. Maybe don't focus on that part and just focus on accumulating while everything is down. Take note that profits are being made mostly in a bear market.

Stabilization of Bitcoin? Nahhh you're dreaming right? Bitcoin will never stabilize because many consider it as an asset and assets are volatile in nature.

tjtonmoy

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Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

Bill Gates has called Crypto, NFTs as Based on ‘Greater-Fool’ Theory

This is what rich people do to brainwash us and keep us poor, so that they can be at the top. They have enough money that they don't need crypto support. But as the world is moving towards the future, crypto or some digital asset will be the main currency in that future. But as we know, old is gold. So any new currency will have hard time to get accepted by people. In which case, crypto will have the best chance to stand it's ground. So it is safe to say that there will be some bump on the road, but this isn't the reason to lose hope.

Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

Hard to say. Could take years or more than that. But it will rise again and stabilize, that's for sure. So just buy the dip and forget about it for 2/3 years or so. Come back after that and i'm sure you'll find yourself in a good place.
[DYOR]
[NOTE: not your financial advisor]

pooya87

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It is not just the people you named who are basically saying altcoins are useless. We all know it and we all have been saying that altcoins are useless. They have no future and the "Greater-Fool theory" is describing the situation in altcoin market very well.

But none of it has anything to do with bitcoin and what it is or isn't going to do in the future.

Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

It depends on what market you are talking about.
Since you use the term "crypto" then I have to say what is happening in the altcoin market is not a correction it is a dump and it didn't start recently to stop, it started in 2018 and has been ongoing.

What we have in bitcoin is also not a correction, it is a crash and since it is not a logical market behavior it is not possible to predict when it will stop.

Bttzed03

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https://bitcoincleanup.com/

What's the connection of Bill Gate's statement to the topic crypto winter?

Quote from: Flyingjack123 on June 14, 2022, 09:07:16 PM

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

Maybe it will continue until the first half of 2023 (could be shorter). BTC could go as low as $18K to $15K during that span. I don't know where the price is going to stabilize though. It will be nice if BTC could bounce above $25K and stay around that level for months but I'm not that optimistic. I guess we'll just have to wait and see. Right now, the bears seems exhausted pushing the price further.

Flyingjack123

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Many crypto exchanges are laying off employees. Recentlycelsius recently has limited the withdrawal
Bill Gates has called Crypto, NFTs as Based on ‘Greater-Fool’ Theory
Yet many other well read people like American billionaire businessman David Rubenstein said that crypto would not go anywhere despite the ongoing market correction.

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

Topic: Is crypto winter setting in.. and how long will it last - page 3. (Read 605 times)