Post
Topic
Board Economics
Re: From Sideways to Downhill
by
Fortify
on 16/06/2022, 20:01:41 UTC
Apparently, the sideways market broke down not out. Are we in a "now what" situation? Or do you think this is as far down as it goes? Even the week chart looks bad for BTC. Any suggestions what to do?

It seems like in times of economic emergency, that Bitcoin is on track to tumble at the same if not further than the stock markets. It does not seem like a safe place to store money, especially as it does not return anything while holding it. The bubble is well and truly bursting right now, it might go back up in the long term but it should simply be seen as a trading mechanism rather than something similar to gold. Use it to send money overseas and avoid middlemen, you might get favorable exchange rates compared to banks / forex traders. Too many people simply saw it as an asset, which they ultimately hoped to sell to someone at a higher price, but that many people will now lose and still not sell out at the right time on the way down.