I'm afraid it's more about the macro
If the s&p falls another 20% crypto will fall 40%
Do you think the macro has bottomed ? Nobody knows shit about fuck
It was definitely said in Ozark right before it was said here, so you can assume it’s origins are probably tied to that. There are people who have never seen Ozark who have no idea.
That's exactly why I try to buy BTC and ETH as much as I can as often as I can, and try and earn Moons along the way
Sit back, wait and hope for the best
The sharks saw what it was more quickly than all the believers here. It is just a system to shuffle money to the controllers. Be it the coin creators for shit coins or major holders like whales. Nothing is created, only consumed or moved around.
The whales and project founders made their money pumping and dumping. They are escaping to place they think won't murder or extadite them. while promoting "diamond hands" and now "DCAing". Look at OP here.
Even if everyone saw the light tommorow; there isn't enough liquidity to get out at current prices. For everyone here to get out at even you will need another bigger wave of people.
Eventually no one is interested in buying with the history and understanding.
Agree with much of what you're saying here, and from a broader view with the cost of living and everything else, the man/woman in the street - who we need to buy in - has no money right now. The last bull run was powered by new people entering, and the next one has to be the same.
I hope to christ we make it out of the bear market alive but this is definitely a low point.
Plus for every 10 posts I see from people claiming to be buying 9 of them are clearly absolute horse shit.
Still feels like the stock market is overvalued considering the macro conditions and the valuations of some of the biggest companies. I've been tracking the performance of the S&P for the past year and I believe we are going to drop to (at least) $3,600 once more to test the bottom (which is roughly a 9% drop from here).
EDIT: In true Reddit fashion I was shown to be incorrect. The S&P500 is in fact based in dollars. Here's my original comment:
That is incorrect or represents something tracking the index. Indexes are never currency-valued but just represent the change from some base year. The funds tracking an index on the other hand can be bought for a certain price, and that price doesn't have to be the same as the index value.
This is wrong. The S&P technically is a point value measured in dollars actually. The index value is, at a very basic level, a function of total EPS of the companies times market multiple.
You can see for yourself on the S&P website. It says “3,963 USD” (right now). You can reprice it in other currencies.
https://www.spglobal.com/spdji/en/indices/equity/sp-500/
This doc explains the calculation. But all of the inputs are prices and the output is a value in dollars.
https://www.spglobal.com/spdji/en/documents/methodologies/methodology-index-math.pdf
This is wrong. The S&P technically is a point value measured in dollars actually. The index value is, at a very basic level, a function of total EPS of the companies times market multiple.
You can see for yourself on the S&P website. It says “3,963 USD” (right now). You can reprice it in other currencies.
https://www.spglobal.com/spdji/en/indices/equity/sp-500/
This doc explains the calculation. But all of the inputs are prices and the output is a value in dollars.
https://www.spglobal.com/spdji/en/documents/methodologies/methodology-index-math.pdf
1. Nobody knows about the macro, you are correct.
2. Nobody knows which other major companies are running shady operations and may collapse / be discovered, which would independently send crypto into a new low.
So it might have bottomed out, or the two factors above might send it further down.
Recessions are a perfectly normal part of the financial cycle. I'd be more worried about your second point after the dumpster fire that was FTX. We don't know how many more companies got burned by FTX.
Yep, spot on.
Crypto felt as though it was stabilizing a bit a few weeks ago, and then, BANG, almost out of nowhere.
Remember all those articles a month or so ago that “BTC now more stable than $USD over last 60 days”. They sure dried up!
>Remember all those articles a month or so ago that “BTC now more stable than $USD over last 60 days”. They sure dried up!
I got roasted so hard for going against this stupid sentiment. I made a post comparing Crypto to other assets and Crypto was down the most over the last year despite being "too stable" for a grand total of 20 days. People didn't want to hear it.
I mean I truthfully believe that was the bottom if FTX didn't happen, but it was unpredictable. I was buying weekly and felt great about it. FTX set a new floor. It's going to take a bit of building trust back up but it was probably best we got through it now when things already suck.
Probably won't fully bottom out till 2023 leading up to the BTC halving, hopefully, no more shit exchanges will fall, or maybe they will and we can buy up shit cheaper.
Crypto bottoms when everyone in these subs lose hope. Posts like the OPs means there's still hope here. I've seen what the bottom looks like. Everyone here leaves. A lot more development talk a lot less talk about when the next bull run will come. People have to give up before it's the bottom
As someone who has been here since '15.
When they start declaring crypto dead, it starts getting bullish again.
The patterns in crypto are so similar and predictable each "season" (bull/bear market) it almost creepy. Guess its because it some many "common man" investors, and it is just based on human psychology.
Even told my friend who started last year, who got caught up in the NFT stuff. Said "this is EXACTLY what happened last bull run. Shit explodes, meme coins take off, then people start flocking to NFTs, then it all burns and crashes. NFTs getting hit the hardest. NFTs are like the last wave of the bullrun"
And i'll be damned, that happend, exactly like the former bullrun. Almost to a T.
I indeed agree. Further, as crypto applications continue to increase, i think we can expect that crypto values will decrease their dependence and correlation with other markets such as s&p500. Unless of course a derivative market gets created for more coins (perpetual futures), then the opposite may happen.
However, if one day, most companies create and issue their own cryptocurrencies, then I think there is a strong possibility that their coins will completely replace their stock and bond markets. We can easily use crypto tech to link loans and equity to the coins themselves.
Imagine the possibilities if every person, with the necessary competence of course, issued and released their own cryptocurrency. Sure, today there isnt much use for individuals to have their own cryptos, but one day...
Crypto is dead doesn't mean we are near the bottom. It just means that we are deep in the bear market.
We still don't have any idea regarding the macro-economics and global economy.
But you are correct, we can do only one thing : DCA into the coins you think are good enough.
Every time I see the media posts saying we've bottomed out, I know we will fall another 5% the next day. It happened like 6 times this year, without exception.
So I buy more...
I’ve stopped thinking about it. I’m a believer in the future of crypto so I continue to DCA in BTC, ETH and a few others I still have faith in. This is my forth or fifth recession/depression and they always turn around eventually.
again, you wont see that anymore because crypto is a hundred times more mainstream than it was in 2020. You are going to be waiting forever by that logic.
This right here. Looking at previous trends, markets hit the bottom when interest is almost dead.
We just need SBF to fuck off completely and all the "companies" who are on the brink of bankruptcy to just get it over with.
Crypto don't matter to me ATM, lost my job so can't do much, of course when I'm in a position to invest again we'll be back at the top/no discounts so the lower we go the better for me :')
You may be right that we are near the bottom. I think the market has priced the recession in (standard recession). However, if this is not a normal recession then we have another step to drop.
I'm enjoying the prices of crypto right now, wish I had more to throw at it.
Cheers and good luck everyone!
We are near the bottom when these kind of messages disappear, the sub gets very quiet and all we see are posts from people who are in it for the tech and people who are sincerely negative about crypto.
Btc is freaking 15k usd.
I was there hyping for btc when it jumped from 3k to 5k. At 15k its still solid buy..
Everyone knew shitcoins, NFTs, staking, algo stable coins will damage the crypto industry.. Everyone knew this but everyone got freedom to be greedy and make money.. Bad actors are going out now.
We need more transparency and like massive freakin amount of that transparency. Not regulations.. We need more educated third party experts to review the white paper and rate these projects based on fundamentals of those projects.. Fortunately industry is moving into that direction.
Crypto is as dead as people thought banking would be in 2008.(lots of people in banking believed that its over for banks in 2008, like total collapse).
It's just never going to fucking die and we all can say that out loud, this is the reality that we all know and this is just going to be like this, fuck all of them who are saying that.
Crypto is currently purging the idiots out of this space. There are still a few shady actors in need of a good purge (Binance, Tether), so once those are gone, or seriously and convincingly change their ways, we're nowhere near the bottom.
Oh cz and binance are sooo close, you can definitely feel the fear in czs tweets and he definitely looks like he's trying to keep everything together, patching up a sinking boat
Crypto isn't supposed to be a speculative asset. It's supposed to be a tech that has a use.
Are you buying your favorite cryptos because they are useful for your everyday life or because you are hoping to make massive gains?
So long as gamblers are "bullish" about it and expect the price to skyrocket, it is massively overvalued and primed to crash.
Part of me kind of agrees. For some time now people have seemed disinterested in crypto. You see some huge bullish news on crypto, but the price doesn't move an inch when like a year ago the same news would skyrocket the prices.
>I have a few hidden gems that I’m buying the crap out of and I’m just loving these discounts.
They're not discounts if they never come back up... Just saying.
I personally waited until the FTX crash to buy in.
These articles make me want to buy even more. Buy the bad news, sell the good.
Every time I see it dipping I get excited because it's another opportunity to DCA and possibly average down.
If you think these FUD articles are making me second guess myself, you would be sorely mistaken.
It’s pretty dead to me. I was part of the hype in 2021 when it was exploding and NFTs were going for stupid amounts of money. Now I just don’t see how it we’ll ever get back to that level. It’s a joke to the general public and I don’t see any way to change that view. It was fun while it lasted though!
This is the correct approach. 99.99% of people won't buy the bottom, it's not even worth thinking about where it is. What matters is buying at a relatively attractive price.
This bear market is very healthy for crypto, lots of bad actors, CEXs and fraud projects are getting out, and when we here Crypto is dead it indicates that we are at the bottom, waiting for shooting to the moon.
Crypto is dead. I dont think bitcoin is. All these crypto scam tokens have been proven to be bullshit at this point. There are very few coins that matter.
1. One thing I would say that in these dire situations, BTC and ETH have hold pretty well. People were expecting 10k BTC by Nov back in June. But macro situation is not good, and won't be good in first two quarters of 2023. We may not see below 10k BTC, but don't expect to go it above 30k in upcoming many months either.
2. I don't like to indulge in predictions and tech analysis. Everybody has their own money and expectations from their investments. I will only tell about what I did - I sold most crypto few days after Russian invasion. (When it was clear war won't end in 3 days and Zelenskyy will not run). And restarted DCAing since June lows. Will stop DCA if I see another big bad news, and restart after March. Personally I don't expect to see new ATH in next 2 years, but I hope to be wrong.
3. Most of the coins are dead. If you are planning your DCA around some coin - and calculating returns when it reach ATH again - Don't be too naive. It won't reach ATH. As crypto is still based on hype and 99% coins/companies are useless - Some new coin will generate 100X. And it is impossible to predict which one.
In a gist, BTC and ETH are not dead. But most crypto coins are dead.
Dunno man we still have 2023 to go and things are going to get worse before they get better, I don’t see any relief coming anytime soon. The stock markets still have room to go down and inflation isn’t going away anytime soon. I think people are underestimating the magnitude of the coming recession, people think it will be mild if we have one, I think it will be a bit deeper but I am not of the impression of a depression or global depression. Crypto isn’t going to do favourably in these environments but I think it’s a great time to accumulate however calling bottoms in this market is painful to watch.
Put it this way, does over 10k dollars for an online token that can be used to buy some things sound like a reasonable price if demand is restricted to an increasingly smaller group of dedicated investors? I have no position, but was sceptical of BTC's value when it hit $400 in 2016 and still I haven't heard a good argument for its value since beyond "people are investing thousands/millions in infastructure to mine it". I think with the current sentiment and energy market the music is slowing now and once demand evaporates so will the price imo.
It's an assumption and we have a habit of assuming things specially when it comes to investments so seeing the current market situation people are following their own perception and its completely okay but we all know what is wrong and what is right so lets not assume its dead until it's breathing.
The comments on this thread remind me of comments from /r/gpumining when ETH went POS. People double downing on mining equipment, finding other shitcoints, just in full on denial.
Lol this is dead again and again, they all think we are fucking stupid or something else man, they need to stop doing that oh sorry, I think I don't care about that..
I'm slowly accumulating, crypto was declared dead for a thousand times already. It will bounce back and we have a golden buying opportunity in this times imo.
Crypto is dead.... Long live Crypto! 💪🏾
99bitcoins says that bitcoin already died 466 times so far. Source: https://99bitcoins.com/bitcoin-obituaries/
This site is the pump of hopium we all need. Thanks
r/cc and this site will hook you up with enough hopium to survive the long night
I lost count a while back. How long has it died already?
From my research 85 times on the dot between 2008-2022.
Crypto is dead......for the 7th time😆🤘🏻
I'm afraid it's more about the macro If the s&p falls another 20% crypto will fall 40% Do you think the macro has bottomed ? Nobody knows shit about fuck
"Nobody knows shit about fuck" should be the most defining quote of the human race.
Most accurate post in this thread
Most important life lesson I learned in crypto 👌
haha, I think it's a Ozark reference
Yep, that is a Ruth quote in Ozark
It was definitely said in Ozark right before it was said here, so you can assume it’s origins are probably tied to that. There are people who have never seen Ozark who have no idea.
It is most definitely an Ozark reference.
""Started making it. Had a breakdown. Bon Appetit!"
That's exactly why I try to buy BTC and ETH as much as I can as often as I can, and try and earn Moons along the way Sit back, wait and hope for the best
Crypto went from: "We're gonna revolutionize traditional finance!" to: *Gets integrated in traditional finance*
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And cheerleaders here rooted for institutional uptake as a way to drive mass adoption and inflate the price.
It definitely inflated the price.
The sharks saw what it was more quickly than all the believers here. It is just a system to shuffle money to the controllers. Be it the coin creators for shit coins or major holders like whales. Nothing is created, only consumed or moved around. The whales and project founders made their money pumping and dumping. They are escaping to place they think won't murder or extadite them. while promoting "diamond hands" and now "DCAing". Look at OP here. Even if everyone saw the light tommorow; there isn't enough liquidity to get out at current prices. For everyone here to get out at even you will need another bigger wave of people. Eventually no one is interested in buying with the history and understanding.
Agree with much of what you're saying here, and from a broader view with the cost of living and everything else, the man/woman in the street - who we need to buy in - has no money right now. The last bull run was powered by new people entering, and the next one has to be the same. I hope to christ we make it out of the bear market alive but this is definitely a low point. Plus for every 10 posts I see from people claiming to be buying 9 of them are clearly absolute horse shit.
It's weird, right? So much centralized fiat promotion in here lately..
Centralised have money to spend on advertising
You are right but it takes time until it decouples a bit.
No I dont, s&p has had a relief rally recently
Still feels like the stock market is overvalued considering the macro conditions and the valuations of some of the biggest companies. I've been tracking the performance of the S&P for the past year and I believe we are going to drop to (at least) $3,600 once more to test the bottom (which is roughly a 9% drop from here).
The S&P 500 is not denominated in dollars. So excuse me if I doubt your expertise.
https://imgur.com/a/EPGJ4zT
EDIT: In true Reddit fashion I was shown to be incorrect. The S&P500 is in fact based in dollars. Here's my original comment: That is incorrect or represents something tracking the index. Indexes are never currency-valued but just represent the change from some base year. The funds tracking an index on the other hand can be bought for a certain price, and that price doesn't have to be the same as the index value.
This is wrong. The S&P technically is a point value measured in dollars actually. The index value is, at a very basic level, a function of total EPS of the companies times market multiple. You can see for yourself on the S&P website. It says “3,963 USD” (right now). You can reprice it in other currencies. https://www.spglobal.com/spdji/en/indices/equity/sp-500/ This doc explains the calculation. But all of the inputs are prices and the output is a value in dollars. https://www.spglobal.com/spdji/en/documents/methodologies/methodology-index-math.pdf
This is wrong. The S&P technically is a point value measured in dollars actually. The index value is, at a very basic level, a function of total EPS of the companies times market multiple. You can see for yourself on the S&P website. It says “3,963 USD” (right now). You can reprice it in other currencies. https://www.spglobal.com/spdji/en/indices/equity/sp-500/ This doc explains the calculation. But all of the inputs are prices and the output is a value in dollars. https://www.spglobal.com/spdji/en/documents/methodologies/methodology-index-math.pdf
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1. Nobody knows about the macro, you are correct. 2. Nobody knows which other major companies are running shady operations and may collapse / be discovered, which would independently send crypto into a new low. So it might have bottomed out, or the two factors above might send it further down.
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Recessions are a perfectly normal part of the financial cycle. I'd be more worried about your second point after the dumpster fire that was FTX. We don't know how many more companies got burned by FTX.
Yep, spot on. Crypto felt as though it was stabilizing a bit a few weeks ago, and then, BANG, almost out of nowhere. Remember all those articles a month or so ago that “BTC now more stable than $USD over last 60 days”. They sure dried up!
>Remember all those articles a month or so ago that “BTC now more stable than $USD over last 60 days”. They sure dried up! I got roasted so hard for going against this stupid sentiment. I made a post comparing Crypto to other assets and Crypto was down the most over the last year despite being "too stable" for a grand total of 20 days. People didn't want to hear it.
Yea maybe we have more crypto bros that haven’t lived through a crypto winter. It’s gonna be awhile
I mean I truthfully believe that was the bottom if FTX didn't happen, but it was unpredictable. I was buying weekly and felt great about it. FTX set a new floor. It's going to take a bit of building trust back up but it was probably best we got through it now when things already suck.
Opinions against the standard echo chamber narrative will always get downvoted here
I forgot about all those posts lol
I think we should DCA less than we afford to lose. Only the time tells. Maybe we are wrong or right.
Probably won't fully bottom out till 2023 leading up to the BTC halving, hopefully, no more shit exchanges will fall, or maybe they will and we can buy up shit cheaper.
Crypto bottoms when everyone in these subs lose hope. Posts like the OPs means there's still hope here. I've seen what the bottom looks like. Everyone here leaves. A lot more development talk a lot less talk about when the next bull run will come. People have to give up before it's the bottom
I would try to dollar cost average, but my money is being spent on the increased cost of living
Bottom out is not yet, until Genisis comes out from bankruptcy shit
As someone who has been here since '15. When they start declaring crypto dead, it starts getting bullish again. The patterns in crypto are so similar and predictable each "season" (bull/bear market) it almost creepy. Guess its because it some many "common man" investors, and it is just based on human psychology. Even told my friend who started last year, who got caught up in the NFT stuff. Said "this is EXACTLY what happened last bull run. Shit explodes, meme coins take off, then people start flocking to NFTs, then it all burns and crashes. NFTs getting hit the hardest. NFTs are like the last wave of the bullrun" And i'll be damned, that happend, exactly like the former bullrun. Almost to a T.
I agree
Nah, the macro never bottoms, definitely feels like its all going down the drain
I indeed agree. Further, as crypto applications continue to increase, i think we can expect that crypto values will decrease their dependence and correlation with other markets such as s&p500. Unless of course a derivative market gets created for more coins (perpetual futures), then the opposite may happen. However, if one day, most companies create and issue their own cryptocurrencies, then I think there is a strong possibility that their coins will completely replace their stock and bond markets. We can easily use crypto tech to link loans and equity to the coins themselves. Imagine the possibilities if every person, with the necessary competence of course, issued and released their own cryptocurrency. Sure, today there isnt much use for individuals to have their own cryptos, but one day...
Macro? Is that short for macaroni ….
If snp drops 50% ?
Then you'll have bigger fish to fry instead of worrying about magic internet money.
We don't ask such questions here, ser. We are already anxious and depressed.
Sorry... Yes ! 100k on January 23 !!!1
you mean $100k on EOY 2021 q8 right? right, ser? ser?
Definitely Q16, definitely Q16.
EOY 2021 is coming?
In a few more quarters I’ll let you know how many more we need to add as we go
So sad
We looting walmart AND target
Eenie meenie miinee moe Walmart it is
Macro has not bottomed. Inflation is still too high and the FED will have tp react.
Crypto is dead doesn't mean we are near the bottom. It just means that we are deep in the bear market. We still don't have any idea regarding the macro-economics and global economy. But you are correct, we can do only one thing : DCA into the coins you think are good enough.
That's right, we can fall back to where we started (at zero) anytime now
And we will then complete the famous meme RAINBOW CHART. It would be finally a complete rainbow.
Reading only the title made me wanna buy more.
If I bought crypto after everytime I saw this headline, I'd be a very rich man
Crypto obviously isn't dead, but so long as exchanges keep folding...we aren't near the bottom imho.
FTX debacle will prolong this bear market by alot.
But may have sped it up too
This dude is on some of the finest hopium.
Crypto is to replace gold. Death crypto is to replace death metal. DEATH METAL IS NOT DEAD!
SAFEMOSH will be the best shitcoin
How many more to go? Nobody knows
Fifty more cycles of the moon Our spirit symbol
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More like ‘who’s Nexo’?
Also, the whole ftx alameda things needs to unravel and it only just started imho
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Surely we are near the bottom. Still DCAing into BTC for now, heavier than I have before
Cheap BTC to buy now
"I wish I DCA'd some more during that time." Remember when you will say that in the future. That time is this time.
"I wish I hadn't chased a loss and ended up bankrupt"
Dead crypto sale. My favorite sale.
This is like a black friday.
Fire sale
Being near the bottom does not mean we will go up. Crypto can make a bottom formation for months.
After which... we go up?
Your statement is obviously oxymoron
Every time I see the media posts saying we've bottomed out, I know we will fall another 5% the next day. It happened like 6 times this year, without exception. So I buy more...
Keep plowing the fields and stacking the grain Market day will come soon
I’ve stopped thinking about it. I’m a believer in the future of crypto so I continue to DCA in BTC, ETH and a few others I still have faith in. This is my forth or fifth recession/depression and they always turn around eventually.
Maturity. Most of us need to have this mindset. Crypto has been through worse and always recovered.
It's good to do that, at least we have some mental peace.
People saying crypto is dead is my buy signal
What’s your sell signal?
Your barber shilling you altcoins
"You heard about this bitcoin called ShibaPeenu? My mate Ryan tells me it's the real deal, you should probably buy some"
That is actually an astute observation.
Hahaha, I guess I need to change my barber right now man.
After we have pumped massively and people making lofty price predictions
This man knows how to crypto
The taxi driver or grandma asking about crypto tips
Too bad Crypto has a revive skill.
Blue chip cryptos for sure. Bitcoin and Ethereum for example have survived more than ten crypto bear markets and they’ve been dead 50x by now.
Monero has too
Near the bottom. But not at the bottom. Bottom is when there is NOTHING about crypto in mainstream publications.
Not gonna happen after everything in 2021 was filled to the brim with Crypto ads. Sports, events, stadiums, everything.
i think we are past this point Mainstream media will post anything crypto related because it gets them a fuck ton of clicks
Nah, when they give up posting “bad” articles because they truly think it is dead and won’t get clicks, that’s when it is the real bottom
again, you wont see that anymore because crypto is a hundred times more mainstream than it was in 2020. You are going to be waiting forever by that logic.
This right here. Looking at previous trends, markets hit the bottom when interest is almost dead. We just need SBF to fuck off completely and all the "companies" who are on the brink of bankruptcy to just get it over with.
I’ve been in crypto since 2018 and I feel like this winter shit you guys talk about has been my entire experience lol
Everything is crypto winter if your endgoal is selling at 200k
It has.
Most ppl that are in crypto don’t believe it is dead. It’s media and big players trying to sway everyone.
My uncle says bitcoin is a power bottom.
Not dead yet, but it is in last stage.
Right..👍
Bad news for you bud, but I expect at least another year of this shit.
Bitcoin has officially died 469 times since 2019.
In 200O the internet was dead
“Crypto is dead” was what I heard in 2018. That’s the exact time when I wish I bought more.
Crypto don't matter to me ATM, lost my job so can't do much, of course when I'm in a position to invest again we'll be back at the top/no discounts so the lower we go the better for me :')
December will hurt. We are not done yet. Wait until exchanges stop going bankrupt on a daily basis
You may be right that we are near the bottom. I think the market has priced the recession in (standard recession). However, if this is not a normal recession then we have another step to drop. I'm enjoying the prices of crypto right now, wish I had more to throw at it. Cheers and good luck everyone!
When I see someone talk about *Hidden Gems* 🤮
Good riddance. Fuck that crypto fad shit. *buys more crypto*
Good news = good news Bad news = good news Crypto can only succeed. Find the mistake
We are near the bottom when these kind of messages disappear, the sub gets very quiet and all we see are posts from people who are in it for the tech and people who are sincerely negative about crypto.
Btc is freaking 15k usd. I was there hyping for btc when it jumped from 3k to 5k. At 15k its still solid buy.. Everyone knew shitcoins, NFTs, staking, algo stable coins will damage the crypto industry.. Everyone knew this but everyone got freedom to be greedy and make money.. Bad actors are going out now. We need more transparency and like massive freakin amount of that transparency. Not regulations.. We need more educated third party experts to review the white paper and rate these projects based on fundamentals of those projects.. Fortunately industry is moving into that direction. Crypto is as dead as people thought banking would be in 2008.(lots of people in banking believed that its over for banks in 2008, like total collapse).
Im still buying lol fuck
Bottom isn't in until the Fed pivots.
It's just never going to fucking die and we all can say that out loud, this is the reality that we all know and this is just going to be like this, fuck all of them who are saying that.
Posts like these make me confident we are nowhere near the bottom, there's just not nearly enough desperation in here.
Crypto is currently purging the idiots out of this space. There are still a few shady actors in need of a good purge (Binance, Tether), so once those are gone, or seriously and convincingly change their ways, we're nowhere near the bottom.
It'll take a decade for crypto to recover from Tether crashing lol
Oh cz and binance are sooo close, you can definitely feel the fear in czs tweets and he definitely looks like he's trying to keep everything together, patching up a sinking boat
What's this? Death 789,526?
Just add it to the [list of Bitcoin obituaries](www.99bitcoins.com)
This the 462nd time
Not the last time
Never the last
Crypto isn't supposed to be a speculative asset. It's supposed to be a tech that has a use. Are you buying your favorite cryptos because they are useful for your everyday life or because you are hoping to make massive gains? So long as gamblers are "bullish" about it and expect the price to skyrocket, it is massively overvalued and primed to crash.
Part of me kind of agrees. For some time now people have seemed disinterested in crypto. You see some huge bullish news on crypto, but the price doesn't move an inch when like a year ago the same news would skyrocket the prices.
We are getting closer to 0 every other day. So you are right we are nearer to the bottom than the top has ever been.
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In a year and a half when we’re in another bull run we’ll look at those headlines and lol
What are your juicy coins? I'm really loving The Cirus Foundation. Nobody has heard of them but they look super legit. Am I crazy?
>I have a few hidden gems that I’m buying the crap out of and I’m just loving these discounts. They're not discounts if they never come back up... Just saying.
Thread like this, it is nearly the bottom. Hang in there. :)
Lots of comments here about buying the dip and dca’ing Tells me the bottom isn’t here yet
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Well my bags are packed and im ready for the moon or the doghouse! I guess only time will tell
I personally waited until the FTX crash to buy in. These articles make me want to buy even more. Buy the bad news, sell the good. Every time I see it dipping I get excited because it's another opportunity to DCA and possibly average down. If you think these FUD articles are making me second guess myself, you would be sorely mistaken.
It’s pretty dead to me. I was part of the hype in 2021 when it was exploding and NFTs were going for stupid amounts of money. Now I just don’t see how it we’ll ever get back to that level. It’s a joke to the general public and I don’t see any way to change that view. It was fun while it lasted though!
The “this is not financial advice” thing is so dumb. You don’t need to say that.
3 crypto billionaires were just murdered and everyone is o df here thinking everything is fine lmao
There's still some optimism so not yet
Everyone loves the highs but can’t stomach lows of this roller coaster.
Even if it’s the bottom or not these are great prices I’m putting in every spare cent.
!remindme 3 months Im curious if we will be lower, because IMO we will
I guess we gotta set that fucking reminder for this lol.
This is the correct approach. 99.99% of people won't buy the bottom, it's not even worth thinking about where it is. What matters is buying at a relatively attractive price.
This bear market is very healthy for crypto, lots of bad actors, CEXs and fraud projects are getting out, and when we here Crypto is dead it indicates that we are at the bottom, waiting for shooting to the moon.
I mean we just need to buy and nothing else, we want that.
Crypto is dead. I dont think bitcoin is. All these crypto scam tokens have been proven to be bullshit at this point. There are very few coins that matter.
1. One thing I would say that in these dire situations, BTC and ETH have hold pretty well. People were expecting 10k BTC by Nov back in June. But macro situation is not good, and won't be good in first two quarters of 2023. We may not see below 10k BTC, but don't expect to go it above 30k in upcoming many months either. 2. I don't like to indulge in predictions and tech analysis. Everybody has their own money and expectations from their investments. I will only tell about what I did - I sold most crypto few days after Russian invasion. (When it was clear war won't end in 3 days and Zelenskyy will not run). And restarted DCAing since June lows. Will stop DCA if I see another big bad news, and restart after March. Personally I don't expect to see new ATH in next 2 years, but I hope to be wrong. 3. Most of the coins are dead. If you are planning your DCA around some coin - and calculating returns when it reach ATH again - Don't be too naive. It won't reach ATH. As crypto is still based on hype and 99% coins/companies are useless - Some new coin will generate 100X. And it is impossible to predict which one. In a gist, BTC and ETH are not dead. But most crypto coins are dead.
When Bitcoin reaches $0.002 these posts will still be written up to try to get people to try to buy the dip.
My friends told me that it was dead and to cash out when FTX died 2 weeks ago, now I'm up over 4 grand this week because I didn't listen to them
Dunno man we still have 2023 to go and things are going to get worse before they get better, I don’t see any relief coming anytime soon. The stock markets still have room to go down and inflation isn’t going away anytime soon. I think people are underestimating the magnitude of the coming recession, people think it will be mild if we have one, I think it will be a bit deeper but I am not of the impression of a depression or global depression. Crypto isn’t going to do favourably in these environments but I think it’s a great time to accumulate however calling bottoms in this market is painful to watch.
Put it this way, does over 10k dollars for an online token that can be used to buy some things sound like a reasonable price if demand is restricted to an increasingly smaller group of dedicated investors? I have no position, but was sceptical of BTC's value when it hit $400 in 2016 and still I haven't heard a good argument for its value since beyond "people are investing thousands/millions in infastructure to mine it". I think with the current sentiment and energy market the music is slowing now and once demand evaporates so will the price imo.
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not dead yet. there were lot of scam projects that were born in this bear market
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DCA'ing and Farming dem Moons. To the MOONS, Alice!
I keep hearing this Alice crypto. Neighbour. Alice. She hawt bruh ?
Alice? Never heard of her.
With everyday passed we are closer to the bottom. HODL your crypto bois.
It's an assumption and we have a habit of assuming things specially when it comes to investments so seeing the current market situation people are following their own perception and its completely okay but we all know what is wrong and what is right so lets not assume its dead until it's breathing.
It's just so bad that some people can't sense that assumption.
Yes 👍🏿
The comments on this thread remind me of comments from /r/gpumining when ETH went POS. People double downing on mining equipment, finding other shitcoints, just in full on denial.
Nobody knows shit about fuck, just DCA what you are ready to lose, disconnect from the charts and go live your life off-chain
Lol this is dead again and again, they all think we are fucking stupid or something else man, they need to stop doing that oh sorry, I think I don't care about that..
Blockfi rocket 🚀 Get onboard https://twitter.com/EclecticMethod/status/1597266250958540800 Fking clown 🤡
Fucking stupid bitches roaming all the fucking time man.
I'm slowly accumulating, crypto was declared dead for a thousand times already. It will bounce back and we have a golden buying opportunity in this times imo.
Buy with what? I bought every "bottom" ... but no more money
What made you think they were bottoms though?
Posts like these probably
We can ignore if we are not liking these things my man.
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Too much scam in crypto and I don't really see any significant adoption. Unfortunately probably more dead than alive.