Even for seasoned cryptonians it is shocking how fast positions can unravel and so much value can be vaporized.
Just think of the NFT traders when they realize the music just stopped and they just lost the musical chair game.
No buyers and no liquidity at all for a lot of the pixelated images. 🥶🥶🥶🥶🥶
Only 200 bill taken off the total markets cap, these are kids games, I'm ready for real pain, as long as doge is abover 10 cents and cardano is above 1 dollar then theres still pain to go. as for NFT's i've been waiting for them to get rekt so long the tweets on NFTs were rotting my brain
We are on the same page my brother. More pain to go for sure. I don't see any way around it. I have been licking my chops at the premise of $0.08 or lower DOGE to start to rebuild a stronger position. And yeah, Cardano being above $1 when a lot of big money got in sub $0.10.
Also the Fear and Greed index will probably have to hang out in the dumpster for a few weeks to exhaust people.
In some respects this sell off could be unique because of the ability for people to leverage out as much as they can through DeFi and centralized mechanisms
I think we will both get our way, I think bitcoin can still go down to 30k where I think it would be its floor but I can see numbskulls selling below that, so I'm on the lookout for these bargains.
People are flocking to stablecoins as if the dollar is going to appreciate anytime soon, it's hilarious, people are way too emotional and can't see the technical. The fed are jawboning now but if stocks take too much of a beating watch how this thing reverses, so pick up what you can while you can
I agree. Personally I can see things going lower than 30K because there are a lot of people in crypto that were leveraged out and it is getting pretty expensive to live because of all the supply chain issues. People get scared and don't know where crypto is going.
For me the stablecoins are for temporary stability. At this point I wouldn't want to be in them for 6 months unless I was able to earn 20-30% and have the capital ready to deploy to projects.
Like you said, there is a lack of liquidity on various projects and the NFTs...... suddenly they panic and fire sell way lower so they can try to pay bills or whatever.
Personally I am getting another car because what is happening in the United States is that the new cars are waiting for their chips and there have even been large amounts of cars waiting that then the rats chewed the wires up so they have further issues. The car lots are empty and the used cars are breaking down and getting into accidents.the chip shortage could go on through 2023.
Mainly looking to not really lose too much on the situation.
With real estate I will need to wait until the market collapses in various markets before I allocate more to that.
Household budgets are getting crushed around the world, many people are hiding out in stable coins because of the yeild and access to liquidity rather than sitting in dollars or their local fiat shitcoin. Look at Turkey how people are flocking to stable coins and bitcoin
I read stories about how people in the US are selling used cars for more than they paid for it due to shortages but that's crazy, how long can that last? Is it a general feeling or specific types of cars like pick up trucks?
I also read a lot of US peeps are now looking for real estate overseas since they're obligation is in a shitcoin like a peso they can easily pay it off and secure the land to leverage later
People are looking for anything that can store value, where this leads I don't know
The car situation comes from a few different angles.
There was a lot of flooding during the summer and it keeps seeming like a lot of cars are getting destroyed from various events. For instance the Corvette plant in Kentucky got hit by a tornado and a couple hundred cars had to be destroyed.
So production has been totally messed up with the chip shortage and usually you can get older cars for $1,000-$2,500. That doesn't really exist anymore. To get into something that runs and is dependable it is going to be more like $3,000 on the low end.
Trucks have been popular but for instance the Chevy Silverado has supply chain issues so they were building them and taking them to a parking lot but then the rats chewed the wires.
Also people have been targeting the luxury and exotic market. If you get clean examples of a car that had low import numbers and already went down its main depreciation curve.
Sports cards have been popular as well.