+- Hack Forums (https://hackforums.net)
+-- Forum: Money (https://hackforums.net/forumdisplay.php?fid=241)
+--- Forum: Crypto Currency (https://hackforums.net/forumdisplay.php?fid=380)
+--- Thread: Is war bad for crypto? (/showthread.php?tid=6283970)
Is war bad for crypto? - Chrome - Nov 3, 2024
https://www.newsbtc.com/news/analyst-reveals-why-bitcoin-price-crashed-from-73000-to-69000/
So we all saw bitcoin soar and then crash a little bit. I of course bought right at the peak like a retard. My plan is just to leave it in for 5 years and hope I get a result otherwise I lost 5 grand. I am quietly confident. I looked at the price this morning and came across this article that I found quite interesting...
Quote:“As we all know, war is bad for Bitcoin and crypto,” the analyst said.
It says here that War is bad for bitcoin and crypto.... I would have thought it would be the opposite. As war goes on I would have thought that countries would use crypto currency to transact with other countries and purchase munitions.
For example, Russia was banned from the swift network which made it hard for them to transact money? Wouldn't they have used crypto currency to bypass that ban?
What are your thoughts?
RE: Is war bad for crypto? - thatBaconGuy.cpp - Nov 3, 2024
The analyst is fake news. War needs oil to make mechanized mobiles go around. BTC is means to afford oil and vendors also invest after supplying oil. Without oil, war stops.
RE: Is war bad for crypto? - pusiantente - Nov 3, 2024
Everything is bad for crypto except price going up
RE: Is war bad for crypto? - Marvelous - Nov 3, 2024
The uncertainty of war makes crypto volatile, but actually war makes crypto valuable. People tend to buy commodities to protect their wealth from government money printers.
RE: Is war bad for crypto? - Omniscient - Nov 4, 2024
"Analysts" are really just "Propagandists".
Don't trust them for anything. If these analysts knew what they were saying they'd have predicted BTC hitting 10k, 70k and things like the 2008 financial crisis and so much more. Most of the time the majority are absolutely wrong in their predictions.
Title of that page.."Analyst Reveals Why Bitcoin Price Crashed From $73,000 To $69,000".
They literally think 73k->69k is a "crash"...that's just ridiculous.
Quote:According to Ash Crypto, the recent Bitcoin price isn’t a straightforward result of crypto-specific events but rather a reflection of the broader economic landscape. As he noted, there are currently multiple reports suggesting that Iran may be planning a military action against Israel from Iraqi territory. The potential escalation of conflict in the region seemed to have created uncertainty among Bitcoin investors, and many might have opted to exit from the markets.
Most of the web is now filled with content for clickbait so they can show you another ad. They don't care about any type of journalistic integrity. That one page has 22 paid ads/links. Crazy shit.