The recent bloodbath on Satoshi Street has affected all crypto assets, with Bitcoin dropping nearly 20% from its $70,000 high and many altcoins falling by 50% or more. This sharp decline is due to several factors converging to create a perfect storm of market troubles.
Geopolitical tensions are having a significant impact on the market, with rising conflicts affecting investor confidence. As these issues escalate, they create additional challenges for the cryptocurrency market, further destabilizing it.
Fears of a recession are another crucial factor. Economic indicators suggest a potential downturn, leading investors to become more cautious and sell off various assets, including cryptocurrencies. The Sahm Rule Recession Indicator has surpassed the 0.50 threshold, historically indicating the beginning of a recession in the U.S. economy.
The bearish trend in Bitcoin suggests further price drops, with altcoins likely to experience even greater volatility. Market instability was increased by large-scale sell-offs, stock market declines, and new investor losses.
Can you feel the fear or you think this is just a very temporary thing..Fear? Only weak hands or people who are storing new altcoins get afraid when the price drops like this, it has now become a normal thing for people who understand BTC enough to know that this is temporary. I will rather buy more in this dip, than to be afraid and sell.
Crypto-tracked futures saw over $1 billion million in liquidations in the past 24 hours amid a market sell-off, with ether futures recording $304 million in liquidations.
Over 200,000 traders were liquidated, with the largest single liquidation order worth $27 million on Huobi.
Feds got what they wanted a market crash. I grabbed some. Around 0.05 btc in the 49-52 range
~I think the crypto market will continue to absorb the dumps and recover. I still remember the time when the news of China ban and how the price dropped significantly but a few months later, new ATH. Now it's speculated that it's Japan, next will be another country.
Can you feel the fear or you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?
With some already firing the warning that Bitcoin may fall below the $40K mark, there is no denying now that bloodbath has come to the industry and though this is a little surprising to me we have to understand that we are in the month of August which is not so good time for cryptocurrency to shine. The confluence of different important factors along with the perceived fear in the market drove the price of Bitcoin and even Ethereum to where they are now.Perhaps the crypto market is also negatively impacted by the fear of economic crisis, especially since the crypto market operates 24/7, so many tokens were sold off by investors during the two weekend days when the stock market was closed. This caused the prices of many tokens to drop sharply, even creating all-time lows.
Can you feel the fear or you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?
They say the whole thing started in Japan when their Nikkei 225 stock index lost a whopping 4451 points, the biggest drop in history - even bigger than Black Monday 1987 when it lost just 3836 points. In addition, Japan raised interest rates to better cope with inflation, and this caused investors to no longer be able to cheaply borrow yen and sell it and invest outside of Japan.
Perhaps the crypto market is also negatively impacted by the fear of economic crisis, especially since the crypto market operates 24/7, so many tokens were sold off by investors during the two weekend days when the stock market was closed. This caused the prices of many tokens to drop sharply, even creating all-time lows.
They say the whole thing started in Japan when their Nikkei 225 stock index lost a whopping 4451 points, the biggest drop in history - even bigger than Black Monday 1987 when it lost just 3836 points. In addition, Japan raised interest rates to better cope with inflation, and this caused investors to no longer be able to cheaply borrow yen and sell it and invest outside of Japan.
Japan doesn't have an inflation problem it has a deflation one, they tried for 10 years to bring inflation up to at least 2% and never managed truly to do so, their interest rates were 0 and 0.1%, the yen was sliding they simply had to do rise the rate at a time where every single major economy had them up by at least 2% compared to them.
They even said that there is no certainty they have escaped deflation or that rates will be increased, they have the opposite problems we experience.
~snip~
I've always wondered how a disciplined and hardworking nation could have such bad economic results, but apparently their politicians are very bad, or maybe under the influence of some external influences that govern them. Japan is said to be the first country in the world in terms of its debt, if the total debt is taken into account - and as far as I can see, they are in the infamous 6th place in terms of external debt.
In any case, it is strange what is happening there, and I am really interested in who profited the most from what happened there and spread to the whole world.
Debt is not a problem as long as you can manage it, Japan has printed trillions and they haven't experience anything close to Venezuela, the debt is held by themselves, there is no pressure for it to be paid, it's perfectly serviceble at current rates. Much as Germany before Covid was issuing debt at negative rates.
As for the economy, it's complicated, explosive growth till two decades ago, slowing consumtion from those levels, aging population, spending impulses have failed, rather that just economic is also a social issue and the mentality probably plays a way bigger role than we imagine.
I remember seeing Bitcoin fall to 60K, then 55K, then to 52K... but it never did reach 50K, despite the price going down by the hundreds seemingly every hour.
~snip~
Can you feel the fear or do you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?I don't feel fear at the moment because if a person is making money from other sources then they don't have to fear because if there is a dump now and you are losing money don't worry a time will come you will cover your losses and make a profit as well. The point is this is a temporary thing and in the long run we know BTC is not going anywhere even if there are recessions, or conflicts among countries and bear trend hype, etc.
Can you feel the fear or you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?
Can you feel the fear or you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?
We old timers in the community have seen the worse blooth bath in the past, so this is not something new to old times, if you are a seasoned traders and have a strong hands this things is nothing to you and in fact will consider this as a door of opportunities.
The month of September is the month where the market will show improvement and they will carry the improvement until the end of the year, so there's really nothing to worry about.
Some say buy at the dip but the dip was getting more deepTrue, but it happens frequently that so many people are now used to it. I don't blame some people who panic when things like this happen, i don't panic much because i store mostly BTC, and i am sure it has the utility to pump again after a fall in price.
~snip~
However, if i were to have so many altcoins in my portfolio, i would be worried when the market tanks, and i will sell a lot of them to reduce loss.
I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.
Debt is not a problem as long as you can manage it, Japan has printed trillions and they haven't experience anything close to Venezuela, the debt is held by themselves, there is no pressure for it to be paid, it's perfectly serviceble at current rates. Much as Germany before Covid was issuing debt at negative rates.
It seems so, internal debt has its advantages, but I suppose it still creates some problems in the long term. Otherwise, all the countries of the world would copy what Japan is doing (some may be partially doing it) and they would all have the majority of the debt to themselves.As for the economy, it's complicated, explosive growth till two decades ago, slowing consumtion from those levels, aging population, spending impulses have failed, rather that just economic is also a social issue and the mentality probably plays a way bigger role than we imagine.
I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.I remember seeing Bitcoin fall to 60K, then 55K, then to 52K... but it never did reach 50K, despite the price going down by the hundreds seemingly every hour.
~snip~
Officially, the price of BTC fell below $50k, and even some members on BTT boasted that their orders were filled below that price. Of course, it always depends on where you look at the prices, because we know from the past that the differences can be considerable in relation to a particular country and crypto exchange.
I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.
I don't know how much we've solved of the problem without causing others, and besides, with birth levels falling everywhere we've just gained more time, once every country is under replacement levels, what next?
I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.
I don't know how much we've solved of the problem without causing others, and besides, with birth levels falling everywhere we've just gained more time, once every country is under replacement levels, what next?
Far from having solved the problem, as you say, we only temporarily slowed down some things at who knows what price, but in the long term we will pay dearly for it. I personally have nothing against people of a different skin color or religion, but I have against those who do not respect people and the society they have moved to.
European demographic policy has completely failed (with some exceptions of nation states), and it is incredible that instead of encouraging families to have more children and protect the family, they advocate gender ideologies and the importation of millions of workers from countries that have no social, religious or ideological similarities with Europeans.
Can you feel the fear or you think this is just a very temporary thing...and days from now we will already be smiling all the way to the bank, so to speak?
We old timers in the community have seen the worse blooth bath in the past, so this is not something new to old times, if you are a seasoned traders and have a strong hands this things is nothing to you and in fact will consider this as a door of opportunities.
The month of September is the month where the market will show improvement and they will carry the improvement until the end of the year, so there's really nothing to worry about.
Fear? Only weak hands or people who are storing new altcoins get afraid when the price drops like this, it has now become a normal thing for people who understand BTC enough to know that this is temporary. I would rather buy more in this dip than to be afraid and sell.Besides understanding the observer must buy the BTC too because only observing the price and saying that those who understand the BTC won't fear in dump. I am not saying this to you but some people have not bought BTC even and are into ALTs and after seeing the situation they are praising BTC.
I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.
I don't know how much we've solved of the problem without causing others, and besides, with birth levels falling everywhere we've just gained more time, once every country is under replacement levels, what next?
Far from having solved the problem, as you say, we only temporarily slowed down some things at who knows what price, but in the long term we will pay dearly for it. I personally have nothing against people of a different skin color or religion, but I have against those who do not respect people and the society they have moved to.
European demographic policy has completely failed (with some exceptions of nation states), and it is incredible that instead of encouraging families to have more children and protect the family, they advocate gender ideologies and the importation of millions of workers from countries that have no social, religious or ideological similarities with Europeans.
Well I agree with part of what you said. I bolded it.
But I would prefer to see world wide depopulation via oral sex only. Zero birth rate for 3 years would be a good start
I know it (will never happen). So I kind of feel the only hope of earth is this movie :
"The day the earth stood still"
1951 version
https://www.imdb.com/title/tt0043456/
Seems that Bitcoin has indeed become correlated to stocks and this is just only getting stronger.
Markets bounced back, so did BTC, we recovered half of the dump, so did Nikkei 225 , it's both an advantage as optimism on the markets will bring optimism and cashflow into crypto but at the same time is going to get us exposed to their fluctuations too, becoming less of a refuge than we thought it might be.I read that it is almost impossible to get citizenship in Japan, even if you are the child of parents who were born in Japan - and while we in the West solve this with mass migrations, they still persist in a very closed society. I think that all the changes that are happening globally in the world have also affected them, but they have not yet found a way to adapt to them.
I don't know how much we've solved of the problem without causing others, and besides, with birth levels falling everywhere we've just gained more time, once every country is under replacement levels, what next?
I did not even know that "Satoshi Street" was even a term that people used but OK, I like it, it's pretty good to refer to it as that.
I wouldn't say there is a bloodbath in any sense of the word happening here, because as you know, prices have just recovered and we don't look to be going back down any time soon.