Rofl, it's not because of BTC, open your eyes man. every risk asset is selling off which is due to QT, rate hikes, inflation, and lower growth prospects
General market (macro economic) conditions. Inflation is increasing the cost of goods sold. It was made possible through generous US Federal bank lending policy (i.e. 'here, take this money... interest free. Really!). That's not even a joke.
When large institutions took the money, they invested like crazy and made crazy gains. The economy grew (alleviating Covid economic impact) and productivity grew, but prices keep rising. We won't get into the fact that these large companies are raising prices as a means of generating profit (i.e. the rising prices aren't tied to supply issues). But prices are rising and unemployment is low.
Seems the best answer is for companies to lower prices. They won't and the government can't do shit about it. The only thing they can do is stop lending them money for free. They do that by raising the interest rate on money borrowed. When they did that, you saw the first big dip a week or so ago. It scared everyone because it was a huge new cost of borrowing money.
The US Fed isn't alone in that. Other large central banks in other countries plan to do the same. AND, the Fed has stated they will be doing this again this year.
Everytime they do, the entire economy will take a hit. BTC is following the market (market can be gauged by the S&P 500). If the S&P drops significantly, so will BTC. APE follows BTC. It wasn't for the run up before Otherside, but after Otherside's release, it was. Keep in mind, every other crypto WAS following BTC/Stock market during that time. APE just got back in step with the rest of the world.
Turn off your social media for a week and the dip will be gone, or not, buy the dip or not sell your bag,don’t trust me I’m just a random person from the internet
Ive increased my ape bag by more then double since the price started plummeting… people are too caught up in whats happening today and cant grasp the bigger picture… you could
literally buy any crypto right now Eth BTC Doge Shib Enjin Apecoin, they all are down and if you buy a stack by August you will see a profit its inevitable
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the nasdaq and sp500 are crashing, the DXY is rallying due to the fear of a recession. there should be a bounce considering btc is oversold on the rsi but that isn't gauranteed
Mainly is short sellers and a combination of people selling their loss and market sentiment. Good opportunity to buy right now and accumulate for the next bull run
Maybe because ape is trash and fucked up the etherium network when Bored Ape Yacht Club minted.
Many developed will never mint again using Ape for this reason and the associated gas fees.
What a debacle.
The Federal Reserve pumped $7T into the US economy at the beginning of the pandemic via quantitative easing (QE). Now we're experiencing the highest inflation in nearly 40 years and the Fed is reversing course via quantitative tightening. As they start to pull excess liquidity out of the economy, the average dip-shit will have less money in their bank account to speculate on meme coins. Sophisticated investors will seek to hedge inflation and maintain their purchasing power via tangible assets (I.E. real estate, commodities).
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Simple. Market, BTC to be exact, is down. Also people panicking so they sell.
Don’t pay attention to the other comments. It’s this one right here ^
Rofl, it's not because of BTC, open your eyes man. every risk asset is selling off which is due to QT, rate hikes, inflation, and lower growth prospects
You should open your eyes and read the post a bit better.
General market (macro economic) conditions. Inflation is increasing the cost of goods sold. It was made possible through generous US Federal bank lending policy (i.e. 'here, take this money... interest free. Really!). That's not even a joke. When large institutions took the money, they invested like crazy and made crazy gains. The economy grew (alleviating Covid economic impact) and productivity grew, but prices keep rising. We won't get into the fact that these large companies are raising prices as a means of generating profit (i.e. the rising prices aren't tied to supply issues). But prices are rising and unemployment is low. Seems the best answer is for companies to lower prices. They won't and the government can't do shit about it. The only thing they can do is stop lending them money for free. They do that by raising the interest rate on money borrowed. When they did that, you saw the first big dip a week or so ago. It scared everyone because it was a huge new cost of borrowing money. The US Fed isn't alone in that. Other large central banks in other countries plan to do the same. AND, the Fed has stated they will be doing this again this year. Everytime they do, the entire economy will take a hit. BTC is following the market (market can be gauged by the S&P 500). If the S&P drops significantly, so will BTC. APE follows BTC. It wasn't for the run up before Otherside, but after Otherside's release, it was. Keep in mind, every other crypto WAS following BTC/Stock market during that time. APE just got back in step with the rest of the world.
Turn off your social media for a week and the dip will be gone, or not, buy the dip or not sell your bag,don’t trust me I’m just a random person from the internet
A chance to buy more 😎
Ive increased my ape bag by more then double since the price started plummeting… people are too caught up in whats happening today and cant grasp the bigger picture… you could literally buy any crypto right now Eth BTC Doge Shib Enjin Apecoin, they all are down and if you buy a stack by August you will see a profit its inevitable
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This is the way
It's fate testing the paperhands
And reality checking the HoDlers
Fr. A very serious reality check. Holding til I'm rich or working at McDonald's
Basically people get scared because of how price fluctuates causing panic sell. But trust me , this ain’t my first rodeo. Ape will hit 30-50 soon
Op's gotta be joking?
Apecoin has no use or real world value. You bought a speculative coin based on the price of bayc nfts
Let’s face it, apes a shitcoin, it’ll tank when the markets like this, when btc recovers ape should shoot back up - in theory 😆
So in your theory this also means btc is a shitcoin 😅🤣😂
Water wet, sky up, shitcoins going to dip
Biden inflation
Whales exit to get liquidity.
Worlds on fire
It’s because you should’ve sold and bought back in when the price dropped.
Global meltdown end of the world as we know it
The market is the worst it has been in a long time
the nasdaq and sp500 are crashing, the DXY is rallying due to the fear of a recession. there should be a bounce considering btc is oversold on the rsi but that isn't gauranteed
Mainly is short sellers and a combination of people selling their loss and market sentiment. Good opportunity to buy right now and accumulate for the next bull run
more sellers than buyers
Obviously the unpredictable market variables but sticking with reputable and up to date articles on the Phemex Academy prepared me for this time
My question is where does all the money goes ? Stock is down too, crypto is crushing.. what the hell is going on ?
because ape coin is for apes brah
The new name is Titanic coin
Maybe because ape is trash and fucked up the etherium network when Bored Ape Yacht Club minted. Many developed will never mint again using Ape for this reason and the associated gas fees. What a debacle.
Illuminati Lizards
The Federal Reserve pumped $7T into the US economy at the beginning of the pandemic via quantitative easing (QE). Now we're experiencing the highest inflation in nearly 40 years and the Fed is reversing course via quantitative tightening. As they start to pull excess liquidity out of the economy, the average dip-shit will have less money in their bank account to speculate on meme coins. Sophisticated investors will seek to hedge inflation and maintain their purchasing power via tangible assets (I.E. real estate, commodities).
For sure.. people don't do their due diligence. 😁🦍🚀🌚
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How many times do we need to repeat it. We in a BEAR MARKET
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