$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

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Null said:
:mad:

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world
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If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down
 
melty said:
If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down
Click to expand...
what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???
 
melty said:
If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down
Click to expand...

Governments and world powers be siphoning that shit so they have some funds to throw at this expensive problem.
 
Magog said:
You seem pretty upset about your mistake of sticking all your wealth into pretend dollaridoos.
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Bitcoin remains the only reason the site has continued forward and I rely on its systems to survive. So no. I regret absolutely nothing. I just thought they'd appreciate more at this time. If you don't like it you can fuck off, I have zero empathy for people who want to undermine this site's survival mechanisms.
 
Null said:
:mad:

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world
Click to expand...
A buddy of mine suggested it could be people selling to buy supplies or blood-drenched stocks.

For now I'll smile through gritted teeth and calm myself with this time-tested mantra: "Buy the dip."

(side note, was watching the Hard Bastard stream earlier today and YouTube was autocensoring/deleting "buy the dip" in livechat)
 
Null said:
:mad:

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world
Click to expand...

Markets are irrational.

Null said:
what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???
Click to expand...

Literally toilet paper. And things like it. And bullets so you can hold on to your valuable commodities.
 
looks like a roller coaster lol

1584061967000.png
 
Null said:
:mad:

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world
Click to expand...
The general public feeling in the west, is that the banks are safe. That no matter what happens governments will bale them out and protect depositors and investors.

If there's an inkling that could change, either from a change in specific governments policies or because they just no longer have the means to, Crypto might see a resurgence.
 
Null said:
what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???
Click to expand...
I imagine people are selling off everything fearing complete economic collapse and think their bank is magically not going to catch fire if things go badly.
 
melty said:
If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down
Click to expand...

Everything took a shit kicking, even fucking orange juice commodities took a noticeable hit. Everyone was trying to liquidate everything in order to free up cash.

@Null I don't follow the crypto market too closely, but I feel for you man. It's been all over the shop. Best guess the reason bitcoin has fluctuated so much was the fact that during the big buy in when it got to 8k a lot of outside investors got into the game and have been using it as an asset bank. The stock market tanks, they're all scrambling for liquidity. Whether that's to buy in to the stock market while it's down, or people trying to build up a reserve of cash in case of recession cause from the dip, or just irrational reactions to uncertainty.
 
Kaiser Wilhelm's Ghost said:
Everything took a shit kicking, even fucking orange juice commodities took a noticeable hit. Everyone was trying to liquidate everything in order to free up cash.

@Null I don't follow the crypto market too closely, but I feel for you man. It's been all over the shop. Best guess the reason bitcoin has fluctuated so much was the fact that during the big buy in when it got to 8k a lot of outside investors got into the game and have been using it as an asset bank. The stock market tanks, they're all scrambling for liquidity. Whether that's to buy in to the stock market while it's down, or people trying to build up a reserve of cash in case of recession cause from the dip, or just irrational reactions to uncertainty.
Click to expand...

BTC almost always takes a dive after other commodities do. It's completely irrational. Maybe someone who tracks the correlation here more closely has an opinion on it, but it does seem to react more rationally in the middle and long terms even with short-term peaks and valleys of absurd volatility.

Also to the extent something like coronavirus even has an effect on crypto I think it would be more pronounced for BTC, specifically, because most of the big farms are in China. In theory there should be no effect at all as these are very sparsely manned.
 
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