Crypto is losing value because it never had true value. Now that serious world-changing fascist shit is hitting the fan, get-rich-quick crypto enthusiasts are dumping their dangerous play money for something that has a chance to keep its value in turbulent times.
Also, everything Trump touches becomes toxic. If I was doing crypto, seeing this madman and his idiot sons go all in on crypto would scare the shit out of me. Remember: he bankrupted 4 to 6 casinos depending on how you count. Who the hell bankrupts a casino?? It’s a virtual money printer! If Trump can make a guaranteed successful business like a casino go tits up, imagine what he and his dumb scammy family and friends can do to crypto…
Crypto is losing value because it never had true value.
There is one value crypto has that is an incredibly small edge case that is so small it isn’t worth mentioning. I agree the value of crypto is totally overblown and is not an investment asset.
crypto enthusiasts are dumping their dangerous play money for something that has a chance to keep its value in turbulent times.
I’m guessed this too, but to what? What is still maintaining value when crypto, dollars, and precious metals are all falling? Are they just choosing the that is falling the least fastest?
The MSM-CNBC types think it has to do with the new fed chair and his historical high-interest rate mindset, which is generally deflationary which pulls some of the wind out of crypto/precious metals (which would be why those have also dropped a lot in the same timeframe)
/SIL for instance was at 121 on 1/29, all the way down to 70 currently.
Crypto is losing value because it never had true value. Now that serious world-changing fascist shit is hitting the fan, get-rich-quick crypto enthusiasts are dumping their dangerous play money for something that has a chance to keep its value in turbulent times.
Also, everything Trump touches becomes toxic. If I was doing crypto, seeing this madman and his idiot sons go all in on crypto would scare the shit out of me. Remember: he bankrupted 4 to 6 casinos depending on how you count. Who the hell bankrupts a casino?? It’s a virtual money printer! If Trump can make a guaranteed successful business like a casino go tits up, imagine what he and his dumb scammy family and friends can do to crypto…
There is one value crypto has that is an incredibly small edge case that is so small it isn’t worth mentioning. I agree the value of crypto is totally overblown and is not an investment asset.
I’m guessed this too, but to what? What is still maintaining value when crypto, dollars, and precious metals are all falling? Are they just choosing the that is falling the least fastest?
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The MSM-CNBC types think it has to do with the new fed chair and his historical high-interest rate mindset, which is generally deflationary which pulls some of the wind out of crypto/precious metals (which would be why those have also dropped a lot in the same timeframe)
/SIL for instance was at 121 on 1/29, all the way down to 70 currently.