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RE: Crypto crash in uncertain times can be a little hard but let’s cheer up

in Project HOPE10 months ago

Dear @mintymile

Interesting choice of topic.

Right now I cannot see any way for BTC to bounce back. Supply will be only increasing and demand probably will slow down.

With unfolding recession many businesses and individuals will face trouble with paying their loans, morgages and taxes. So liquid fiat will become very valuable for everyone around us.

Having crypto in our porfolio is an investment. Usually we invest what we can lose. So priority of it isn't that great. And if we would face threat of losing job or shutting down business - then we will sell of however much we need to simply survive.

I'm personally expecting that BTC will drop again to 3k and STEEM will go below 0.05$ within upcoming few weeks. And halving will not help. It surely will reduce selling pressure coming from miners - but that's all it can do. It will not create demand. And panic sell will continue.

Also - all previous support levels do not count any more. Not in current situation.

Plus what if your money is not safe in banks?.
Where can you put your hard earned money?

My solution is to have debt and savings within same bank. I've morgage and savings within same bank and I'm quite confident that situation when bank is taking my savings and yet demand paying loan will not happen ;)
Solid read, upvoted already,
Yours, Piotr

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Your provably right, BTC could come down to 3100 levels, post halving things would come back normal I guess. Wonderful situational logic, you have mentioned. It's recession time and it will be interesting to see how cryptos will do when it occurs and plays out fully. I believe BTC and other alt coins would go up in long tern, 1 -3 years, still. Right now, selling may continue, but below 3100 if BTC goes, it's going to be hard to have faith in this belief, but for now, I believe, BTC and other cryptos are goinng to rock.