This Market growth is too fast for my nerves. You can see the similarities with January 2018, you can literally see the bubble.
But when the bubble bursts, do you believe that bitcoin will go down for 40% again?
In my opinion, the Alt coins will slide off more, but this time some of them are very well positioned, have become more valuable, stand on solid ground.
Bitcoin was bought by financial institutions this time, that gives me hope that this time the crash won't be more than 20%.
And not to forget that the whole world has printed so much money, because of Covid-19, that it has to be reinvested somewhere.
What I want to say I am holding my positions this time. What will you do?
I'm just wondering about your your words that the governments are printing money for investment. I think it would be nice if you put the link on it as a support to it. Without providing it is must say that this is just your own opinion and not never be considered as facts.
You are so funny.
https://www.federalreserve.gov/paymentsystems/coin_currency_orders.htmhttps://www.somagnews.com/9-trillion-story-22-of-us-dollars-printed-in-2020/https://eu.usatoday.com/in-depth/money/2020/05/12/coronavirushow-u-s-printing-dollars-save-economy-during-crisis-fed/3038117001/https://cointelegraph.com/news/us-printed-more-money-in-one-month-than-in-two-centuriesUS Printed More Money in One Month Than in Two Centuries In a letter to investors released on July 29, Pantera Capital CEO Dan Morehead noted that the United States has printed a shocking amount of money to combat the pandemic-induced financial crisis.
“The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.”
Morehead made it clear that Pantera Capital sees Bitcoin as the solution for the current crisis. He also contrasted the effects of money printing in recent months, to how the equivalent amount of currency had performed across centuries:
“With that first trillion [USD printed] we defeated British imperialists, bought Alaska and the Louisiana Purchase, defeated fascism, ended the Great Depression, built the Interstate Highway System, and went to the Moon.”
Morehead cited the resulting inflation as the main reason one should “get out of paper money and into Bitcoin.” According to the CEO, “there is no need for inflation-adjusted numbers [with Bitcoin] because there is no inflation/hyper-inflation.”
Going to zero
Goldbug Peter Schiff is also concerned about the effects of money printing. He noted comments by the Chair of the Federal Reserve, Jerome Powell, who said this week that the Fed was using its “full range of tools” to respond to the pandemic: printing money, keeping interest rates close to zero, and making asset purchases steady at $120 billion per month.
“The U.S. is about to experience one of the greatest inflationary periods in world history,” Schiff said on Twitter. “Any credibility the Fed has left will be lost. Federal Reserve Notes soon won't be worth a Continental.” (Continental paper money in the U.S. was at one time exchanged for treasury bonds at 1% of its face value.)
Inflated prices as well?
Despite widespread fears over inflation, many experts predict consumer prices will actually go into a period of deflation — and that’s exactly what’s happened in Australia this week where ABC News reported that consumer prices in the country actually dropped 1.9% in June. It’s a record for deflation since the Korean War.
However many pundits believe the inflation is actually hidden in asset prices, rather than consumer prices, and that money printing has underpinned the share market rally in the midst of the pandemic.
Pantera Capital revealed its simple investment strategy for riding out the pandemic:
“Stay long crypto until schools/daycare open. Until then the economy won’t function and money will be continuously printed.”