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+--- Thread: Hold your horses (/showthread.php?tid=6055722)
Hold your horses - The Broker - Mar 9, 2020
Welcome to the days we are going to remember as “the corona crash” in 10 years.
Bitcoin price has fallen and everyone are like “why? Isn’t it supposed to be a hedge against the dollars, gold v2.. etc”
Well yes the bitcoin is a pretty awesome hedge against fiat currencies but this is not what this post is about.
The price is crashing not because bitcoin hodlers & community and those who are regularly reading on bitcoin exchanges are “selling off”.
The price is crashing because people are liquidating (selling off) fractional reserve assets in the stock market, assets like etfs, futures (issuer doesn’t even hold bitcoin in reserves).
You can also see this by bitcoin’s volume in the past few days, volume haven’t changed much means that there were no sell of of the asset itself (bitcoin).
Some proof for my words:
What you see in the picture is the DOW30 industrial index, at 5:00 am 09.03 (please excuse the time, I don’t live in America, and the date isn’t updated but it’s 09.03 not 06.03) crashes 7 percent
Second picture is bitcoin chart crashes at the same time and almost the same %, which proves that this drop was cause by the stock market and not by the bitcoin community / exchanges.
https://imgur.com/gallery/2tEZ7VR
TL;DR
Bitcoin is here to stay! Stay strong we’re making history in 5 months from now (yes I know halving is in 2 months).
RE: Hold your horses - LayersOSImodel - Mar 9, 2020
corona is not the cause of this drop at all, its a crypto not a factory or a multi buisness that depends on deliveries of stuff from china, its just a virtual crypto, anyone in the world infected by corona virus and being stuck in a room can buy and use bitcoin using internet, but no body can go back to his works when being infected by coronavirus.
That's the difference between virtual market and physical market, crypto doesn't need physical hands work to grow up.
Biggest institutional investors are trying to put the price at lowest point.
RE: Hold your horses - The Broker - Mar 9, 2020
(Mar 9, 2020 04:00 PM)LayersOSImodel Wrote: corona is not the cause of this drop at all, its a crypto not a factory or a multi buisness that depends on deliveries of stuff from china, its just a virtual crypto, anyone in the world infected by corona virus and being stuck in a room can buy and use bitcoin using internet, but no body can go back to his works when being infected by coronavirus.I don’t think you have understood my post,
That's the difference between virtual market and physical market, crypto doesn't need physical hands work to grow up.
Biggest institutional investors are trying to put the price at lowest point.
There are 2 options to buy bitcoin, you can buy bitcoin or you can buy a derivative of bitcoin in the stock market, what I am saying is that bitcoin dropped few % in 5 am as shown in the picture is because the derivatives, not actual bitcoin.
RE: Hold your horses - LayersOSImodel - Mar 9, 2020
(Mar 9, 2020 04:41 PM)Rinkyo Wrote: I don’t think you have understood my post,
There are 2 options to buy bitcoin, you can buy bitcoin or you can buy a derivative of bitcoin in the stock market, what I am saying is that bitcoin dropped few % in 5 am as shown in the picture is because the derivatives, not actual bitcoin.
sorry my bad, i just read "Welcome to the days we are going to remember as “the corona crash” in 10 years.""
then after i read that i activated the trash talk mode, sorry
RE: Hold your horses - The Broker - Mar 10, 2020
(Mar 9, 2020 04:55 PM)LayersOSImodel Wrote: sorry my bad, i just read "Welcome to the days we are going to remember as “the corona crash” in 10 years.""
then after i read that i activated the trash talk mode, sorry
Its cool man. :)
RE: Hold your horses - The Broker - May 15, 2021
I was pretty accurate, lol :D
RE: Hold your horses - Omniscient - May 15, 2021
Bitcoin is crashing because these "fractional asset" sales you are talking about it is sparked by inflation. People need more money, people also want to find safety against inflation. I suspect Gold will have new ATH within 30 days.
Crypto market was up up up, this is just correction.
RE: Hold your horses - The Broker - May 15, 2021
(May 15, 2021 10:03 AM)Omniscient Wrote: Bitcoin is crashing because these "fractional asset" sales you are talking about it is sparked by inflation. People need more money, people also want to find safety against inflation. I suspect Gold will have new ATH within 30 days.
Crypto market was up up up, this is just correction.
Its 2019 thread man