Quote from: Abiky on May 17, 2022, 11:02:08 AM

Quote from: Wind_FURY on May 16, 2022, 12:30:58 PM

Because the Fed is tightening the balance sheet through QT and rate hikes, causing investors and speculators in risk assets, like stocks, commodities, and cryptocurrencies to sell.

But ser, in Bitcoin's situation, ZOOM OUT. It has increased by MORE than ten-fold from under $1.00 to more than $10,000, and in my opinion, still in its path of price discovery to $100,000. Cool

That sucks. I thought Bitcoin's price moved regardless of what happens in the real world. But now, it moves along with the stock market and what actions central banks do against the economy. This way, Bitcoin and other cryptocurrencies cannot serve as an alternative to the current financial system. There are still a lot of people who don't know anything about Bitcoin, so I'd say we're still in the very beginnings of crypto's mainstream adoption.

With what happened with LUNA lately, it's going to take a little longer before the crypto market rises back to its former glory. As long as everything remains decentralized, there should be nothing to worry about. Just my opinion

You were here during 2014, before many of us. I would believe that you among most of the people would have already understood Bitcoin's open-market induced volatility.

Plus what you're saying about "cannot serve as an alternative to the legacy financial system" is debatable. Bitcoin functions as well during bull markets, and bear markets, producing block after block without downtime. The Dark Markets continue, Bitcoin casinos continue, everything continues.