[+]SpottyMatt0 points6 points6 points
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[–]SpottyMatt0 points
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Fascinatingly, gold and silver are down, too, along with almost all of the stock market. It isn't usual that you see precious metals dive along with commodities and crypto. It looks like people are pulling liquid cash out of all asset classes.
( I would argue that crypto is still usefully liquid, but if you were overleveraged and didn't have any dollars, it would be smart to move out of it in the short-term )
Once the medium and longer-term effects of the pandemic panic get a chance to settle in & world governments try to address it the only way they can in our debt and fiat-powered system - by printing more cash and introducing it to the economy - I expect that people will once again flee cash into deflationary asset classes: gold, silver, and crypto.
Finally, I would nitpick that "there goes its price." It still has value as a decentralized fungible means of electronic exchange.
I am not ditching any of my crypto (or precious metal) holdings. If anything, it'll soon be a smart buyer's market if you're in for the long haul.
Halvening for bitcoin is coming soon also. I've lost thousands on my coin, but I'm not even mad. Waiting for bitcoin to drop more so I can buy a few more coins
[–] SpottyMatt 0 points 6 points 6 points (+6|-0) ago (edited ago)
Fascinatingly, gold and silver are down, too, along with almost all of the stock market. It isn't usual that you see precious metals dive along with commodities and crypto. It looks like people are pulling liquid cash out of all asset classes.
( I would argue that crypto is still usefully liquid, but if you were overleveraged and didn't have any dollars, it would be smart to move out of it in the short-term )
Once the medium and longer-term effects of the pandemic panic get a chance to settle in & world governments try to address it the only way they can in our debt and fiat-powered system - by printing more cash and introducing it to the economy - I expect that people will once again flee cash into deflationary asset classes: gold, silver, and crypto.
Finally, I would nitpick that "there goes its price." It still has value as a decentralized fungible means of electronic exchange.
I am not ditching any of my crypto (or precious metal) holdings. If anything, it'll soon be a smart buyer's market if you're in for the long haul.
[–] RepostGhostCst2Cst 0 points 3 points 3 points (+3|-0) ago
Halvening for bitcoin is coming soon also. I've lost thousands on my coin, but I'm not even mad. Waiting for bitcoin to drop more so I can buy a few more coins