Quote from: Abiky on May 16, 2022, 12:04:43 PM

My question is why isn't crypto rising in price if inflation on major Fiat currencies have soared like crazy? Am I missing something here? It's a shame since Bitcoin was long hailed to be a safe-haven asset like Gold. Your input will be greatly appreciated. Thank you.

Well, the answer is pretty simple.
For any assets to rise you don't need inflation or deflation, you need something else, and that's ....ta dam!!!! Money!
You need people to buy more bitcoin with more $ than the ones willing to sell for $ and on top of that you need to take care of a certain 30 million, a daily problem in blocks mined. Wink

Now, totally contrarian to the popular belief, when do people like to invest and risk money? When their job is secure, they have cheap food and rent and transportation, no crisis insight, or when they face unemployment, they spend half of their wage on basic necessities, they are afraid they might not afford food or even the rent when they are concern with the rising cost of raising a kid?
So, despite nearly everyone thinking we need a new ww3, economic crisis, famine, plague or other to see BTC rise to a new ATH, once you don't need a few million to do so but trillions, you need people with money and with no concern of losing that money at all, not a scared middle and lower class that throws 5$ a month on some altcoin.

Quote from: Abiky on Today at 11:02:08 AM

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.

Why not? Why would you expect bitcoin to go against this trend, just because it's an alternative?
A bicycle is an alternative to a car but it still has round wheels and you drive it on a street and you get fined for not having a light or a helmet!

Bitcoin is based on trust, the trust of being only 21 million, the trust of knowing there won't be more printed, the trust of knowing those are your coins, but at the same time, trust can be shattered, and this is what's happening now, some believe the value should be lower and their numbers offset the ones that think the opposite.
It's the perfect free market based on what people think and not what somebody else decided for them!
But not everybody likes a free market when it's going down!