Daily Crypto Markets Live Blog: More Pain Ahead For Cryptocurrency (05/24/22)

in LeoFinance2 years ago

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Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.

Let us boost our overall numbers by posting lots of comments throughout the day. Spread the word to get others involved.

It is a great way to stimulate engagement.

We can think of this as a Reddit type engagement thread. We are not dealing with long form content so topics of discussion can start off with a top line comment. We can fill in from there.

We are open 24/7/365.

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It seems the crypt market keeps running into headwinds.

We could see lower levels going forward.

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Meh, it's not that much down, we were here, the day before yesterday! :)

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We're here today again:)

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And tomorrow too :D

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The 20-21k is the ideal demand zone, at some point after breaking and closing below the 27k level, it will fall like anything to the 21k zone, that is also the ideal zone for consolidation before BTC establishes its footing for the next bull run.

Sometimes ideal targets don't get hit.

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The market always tests you otherwise. That is why long-term targets and positioning are a widely accepted theory and approach to investment. The common trap is...what you consider a normal might be extreme for the market and what you think of as extreme might be normal for the market.

It is true that levels are unpredictable, so I like to believe that it is best to wait for the market to finish falling to take profits.

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Timing is the key. Patience is virtue. In crypto, I think the shortest possible timeframe to strategize your investment should be at least 4 years. The broader the horizon of investment, more easy for you absorb the short term noise.

That is totally true, since waiting makes you get great results, it also helps to maintain a good psychology because if you do not have a cool head for when the market goes down then you go with the tide.

You ain't engaging via the LeoFinance frontend which would qualify you for Khal's sweet LEO.

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Oh sure, Thanks for channeling me in the right direction. I would appreciate it if you could guide me further.

I had to deal with some other stuff this week so I checked prices even less than usual. I guess it gives us more time to acumulate

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Or to keep a clear head and avoid extreme fear.

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Uncertainty continues in the markets, most people expect further declines. This keeps the bears strong. There was a similar situation last year.

Prices may move lower, but I still remain bullish. We'll wait and see.

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Staying off chart and just moving on and waiting for the next Bull market is the way to survive this bear market

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I can't stop looking. The charts were never this bad lol

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Yes, it has never been this bad. But I think it will be amazing when it comes back. I don't know why, but I'm optimistic for the coming months. :)

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Very true. I have the same amount of work to do both on-chain and off-chain so I just forget about it and keep on grinding

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I don't know when the bull market will come, but I am very ready for the bull market.

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Absolutely true, the high earning season is from August onwards, with November being the highest peak or December.

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BTC already touched its 61.8% Fibo 12 days ago. If that will be broken, then another dip to 78.6%.

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Now that will be quite a fall. It will be painful.

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But I actually doubt that the 28k support will break down. If this kind of price action is happening in the stock market, it's actually a signal to pick up for the price is now sitting on the floor.

Now that's a good thought. I haven't checked the markets but it seems there is a bit of positivity :)

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But if we look at it from a doubling curv a viewpoint as edicted preaches, we will see that the price is much better than last fall and even better than the 2018 fall.

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Yes, I saw that too and I like the channel he made.

!CTP.

Its possible to see more lower level as time goes on. I guess this is the proper dip everyone was talking about

Let's see where we stand by weekend

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It sure looks like that…

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I tend to think it will head lower due to the economic headwinds and I don't think the traders will really wait too long. So they might just decide to reload at a lower level.

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What is the minimum price you think it could touch? I think up to $25K.

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Had to ready the cushion for the bumps.

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😂 stay prepared

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Been expecting more dip, just bracing myself with no Bull expectations

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How many red weekly candles can one market endure lol

We closed the 8th. Anyone betting on a 9th?

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Chopping time. However there are plenty of coins that are over 80% down which kind of signals the bottom might be near.

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However, it may also mean the disappearance of totally useless currencies such as SHIBA FLOKI INU Trump hahaha.

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Before now, hive-engine tokens used to respond counter direction to dips, presently, it changed.

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New LeoFinance author producing quality content:

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He made some really good money from the sh*tcoin :)

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He even made it seem easy. 😊 scamming the scammer

I'm impressed

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Haha, yes. He outsmarted them. And I am impressed too. Almost want to ask him to share what's the next sh*tcoin he's going to play with, lol!

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Now that's beating the scamming bastards. You have to give them a little of what they give.

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Awesome. Will check that out.

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Just curious about WEF's idea of metaverse. If it doesn't exist yet, why be worried about children's safety in the metaverse?

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I don't want to be in any Metaverse containing WEF. It's bad enough I live on Earth with WEF.

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WEF doesn't want to set anyone free. 😆

I don't see any reason to be worried about that, at least for now.

Parents themselves has much to be done in that aspect not WEF

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Curious what's really the intention behind such "concern"?

You mean WEF's intention?

I guess they want to find ways by which they can regulate everything decentralized or related to crypto.

The world itself is unsafe enough for kids these days, seeing Meta-verse as a threat now is baffling.

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I wouldn't worry that much. It's probably easier to build a safer environment on the metaverse than it is in "real-life"

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Such "worry" perhaps is just a pretext to hide the real intention.

Heh, not my favourite tokens but I guess it makes sense since they are pretty hyped

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It's definitely going to transform their industry just like they've noted.

Accepting around 12 cryptocurrency is a way forward for them, hopefully we get HBD or hive as a means of payment someday.

I guess no one wants to be left out in this ever changing technology world. The next decade will be an interesting one for technology and crypto in particular

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Yes, we live in very exciting times! 😆

Oh, that's interesting indeed! Wonder which one is coming out next to accept crypto payments.

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What a beautiful scenario to watch once the flood will break the wall of crypto resistance! 😄😆

A beautiful scene :) It will be lit!

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Crypto entrants into commercial activities would be big booster and would fast track mass adoption. Early adopters would enjoy more.

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That's true and hoping more will come aboard. The more, the merrier :) It may take a while for the mass adoption but this is a good start so far.

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I can see why they might take DOGE but I don't really see a point in accepting SHIB. DOGE already has its own chain to transfer money but SHIB doesn't really seem to offer much.

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I am curious too. 😵

Doge & shib has a large community. That might be the reason

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Yea, SHIB is an oddball. I guess it's just because a lot of people know it

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I think great liquidity, that's a good point and since it's a shitcoin, it's not a project with something to lose.

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Keep adding… great news. Now hope more will join in.

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They probably did it to attract the community into buying some watches

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Most probably, that's the reason. There is power in numbers.

This is really good news that will allow a greater adoption.

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Yes, it is! 😊

!PIZZA

Anyone any clue why VYB is pumping so hard lately?

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Just someone going crazy trying to scoop up cheap tokens I think.

It's not just VYB too.

They're also using the same layered buy order tactics on a few different markets.

Good luck to them!

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Hive-engine tokens are supposed to pump while Hive bears in an ideal situation 😀

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Not checking though. Will lookup too.

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I saw this video in my feed and it's something to consider if you have been participating in a lot of different Defi platforms. Checking before transferring a large number of funds over to your Metamask sounds like a fairly good thing to do.

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Thanks for the information

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Ouch, always bad to lose money

I use pretty much PolyCUB and CubFinance only but it's always good to know some best practices. Can never be too safe

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Thanks for the information. But how secured is Metamask asides a user's negligence?

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REMINDER!!!

Get your #CANDIES. We are not filling the jars to the brim.

With the virtual world, we can add more jars until we run out of bandwidth.

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Just collected mine… and the jars keep filling up, but we can add and add to them 😁🤩 as we don’t want to stop yet.

Night night all 👋🏻😴

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We or I?

Sounds like someone has an addiction.

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Definitely a “we”. I’m not the only one hahaha 🤣

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Back to day 2 because I have finished my 7 days round of collection

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Always great to see the end goal getting closer and closer… climbing the mountain.

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It’s sad after climbing the mountain to the top, you get down to climb it all over again.

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It’s exciting 🤩 like life…
Worth the effort 😎

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Same with mine. I'd be starting the new cycle on about 14 hours.

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What do you do with the candies because I haven’t seen anything to do with mine except buying the How To Defi or How To NFT e-book

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CoinGecko working all right for you? I can't get it to load

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Works fine for me.

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Looks like it was an issue on my end. Working now and I grabbed my 20 candies for the day

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Working okay for me too ;)

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Yea, I think it was my connection that was a little wonky

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Hope you didn't miss to get the candies though.

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Got them, thanks! 40 added to the jar.

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Good numbers. 3 more and you'd restart the cycle.

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Yes, the cycle goes on as long as the candies exist and the jars too :)

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Added 40 candy to the jar.

Thanks for the reminder

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Thanks for the reminder and I got my candies for the day.

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Getting those candies now! Thanks for the reminder I again f-d it up and have to start over.

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Yeah, got my 100 bucks hours ago. Sweet Candies

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It seems like many companies are exploring the Metaverse.

The hype keeps growing.

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I'm still waiting for genuine 3D television, the kind where we don't need to wear those red and blue glasses.

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They'll probably make those in the metaverse and sell them for 100 ETH.

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I can't handle that gas fee, so I'm out.

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Yea but I don't see the metaverse actually taking place for another decade or two. So I wonder if they are looking out that far out.

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Top Line Comment Banner for LeoFinance at https://leofinance.io

Interviewer : What's your prediction for the fight?

Clubber Lang : My prediction?

Interviewer : Yes, your prediction.

[Clubber looks into camera]

Clubber Lang : Pain!

(Bold and italics in original from IMDB.com)


Clubber Lang predicting 'Pain' for fight

Source: Tenor via D.Buzz
Click the image for a full-size view

That iconic scene from Rocky III is what the headline for today's edition of DCMLB reminded me of.

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😂 very realistic, pain is inevitable in such situation

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I wonder what's the technical basis for this BTC $8,000 forecast? As for me the ultimate bottom could be around $17,145, BTC's 78.6% Fibonacci retracement. It could also not go there for the 28 to 29k support area is still strong.

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Good thing about some extreme predictions is that they very rarely happen, or do they? :D

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You are right. They rarely happen.

just like we've been hearing how btc might have a run to $100k before the year ends or heading to $10k rage

Both are just too extreme to be true, the crypto market has evolved and now has a mind of his own, which makes it more resilient than ever

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Yes, they are just extreme but who knows, the 100k may happen, just a matter of when :)

It's good to think how resilient the crypto market is going over the years.

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I remember the other day, one article says, "millions". 😄

Lol

Isn't that too much, I guess he's making a wish like an high school kid.

Is that possible in this generation? Or 50 years from now? I don't think so

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I will try to retrieve that article and share it here. 😄

I forgot the exact number of years he gave. But that's an interesting opinion. 😄

$100k BTC would be lovely in 2022.

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No doubt about that, but tbh, I don't see that happening anytime soon this year.

I'm always wrong with predictions tho

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I am not sure if I missed it, but the article didn't mention any technical or fundamental for such a forecast. To me, it's just a wild guess.

I thought the same, some wild guess. Or perhaps the price he wants to buy from, lol!

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😆 Yes, perhaps he just wants to buy tons of it.

Maybe hehe. But we don't really know that now we are wild guessing too, lol!

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😆

I hope my !CTP still works. 😆

Well, I don't think we will hit that low unless there is a black swan event. Sounds like a way to spread some FUD.

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Exactly! But despite such FUD, I am surprised that luxury companies are taking this as an opportunity to open themselves for business with cryptocurrency.

Don’t think it goes that far… I would say around the 28k mark.

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That's also my wild guess. BTC might revisit that 28,189 mark and bounce from there. If that will happen, such a bounce will be stronger for that's a double bottom.

Cross our fingers 🤞🏻
We just will find out…

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Yes, at the end of the day, TA is all about the game of probability. The market has the final say.

It is… you are so right. 😎

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8K is overly pessimistic but I do remember people calling for $1K BTC before the 3.5K bounce.

Maybe we are really nearing the bottom after all.

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Yeah, that's what I also think. I am not just sure about the exact dominant psychology. We are done with the panic selling I think. We are perhaps in between capitulation and depression. 😆

$8k BTC would have been a great buying time. However if it reaches $25k, l'll have to push my Crypto assets into stablecoins.

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But the question is, will it really reach that price? Or are we not already in the buyer's market with the current price decline?

Any SHIB holders here? Based on its MACD, this analyst saw an an indication of reversal. Source

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That's a good thing, although I only have like $1 worth of it, lol!

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I own about 4 million SHIB. It it moves even 3 decimal places I'm set!

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Wow! I remember the days watching penny stocks. Just a two or three-point appreciation is already a huge gain for the holders. 😆

For me, this was a "buy-and-forget" play.

For many years DOGE was values at less than USD 1 cent. For reasons I can't explain it cracked the USD 1 cent barrier in 2020/2021, then in Spring 2021 it achieved its ATH.

In Year One SHIB had done more than DOGE. It may be years before SHIB reaches USD 1 cent, but with so many decimal places for upward movement I may not need to wait as long.

The other day I discovered how to use SHIB for DeFi, but I haven't done it yet. If I go ahead with this, who knows where I'll end up? REKT is always a possibility, but that's true even for ETH and BTC.

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I like your thoughts. Curious about what platform are you using to buy DOGE and SHIB? I remember trading them when I was still using StormGain.

I'm locked out of Binance, and Gemini is one of the few centralized exchanges available to me. I bought both DOGE and SHIB from Gemini long before I did anything with DEXs and the DAI stablecoin. Future purchases of either will be made using stablecoins only after I get them off Gemini first.

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Thanks for your reply.

MACD, what does that measure? How is it calculated?

Since I'm asking questions, how is order flow measured? Is it just one number, or is it today's 24-hour volume minus yeaterday's 24-hour volume? Or is order flow calculated some other way?

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It's a trend following signal. It depends on the moving averages you're using. Commonly, technical analysts use 26 and 12 days moving averages. Once the 12 MA crossed above the 26 MA, technical analysts see that as a bullish signal. shib_macd.png
Source

Others would not trust this indicator alone. They will use it together with additional indicators.

Moving average trends. OK. I thought that was involved somehow; I just wanted to confirm. Thank you!

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My pleasure! 😊

"Gafisa, one of the largest Brazilian real estate developers" doesn't care about the current falling price of BTC. It "is now accepting bitcoin as payment for the purchase of real estate." Source

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That's good to hear.

They are seeing how much potential it currently has and how much can be built into it with time.

More news like this keeps circulating daily, but only few are seeing what's going on in real time.

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Yes, it's actually amazing that more companies are getting into crypto in the passing of days. When such a growth reaches a critical number, what next might surprise many.

What comes next is going to be mind blowing I'm sure.

Let's hope we keep seeing stuffs like this happen. I'm accepting HBD/Hive myself when I start my first fiscal business.

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That's great! Yes, let us just do our part: creating content, curating, adding more tokens, and sharing. 😊

The Era of payphones seem to come to an end in New York yesterday, with the last standing payphone removed.

That's us humans, now mobile than ever.

The question is, do you think there's a possibility of physical banks meeting the same fate in the future as payphones did?

Do people still walk to the bank/payphone to initiate a transaction/phonecall anymore? can't recall the last time I entered a physical bank

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Yesterday I was at a local bank branch. They still offer safe deposit boxes. They also offer teller services as well as customer services. Most banking can be done online or with ATMs, but for some things it's still better to do them at a bank.

Physical pay phones using copper wire landlines are still needed if for no other reason than emergencies for when the mobile networks are overloaded. I lived this in 2012 when "Superstorm Sandy" passed through the NJ/NY area and I needed to let my mother know that I was OK. It's low-tech, but it's been proven to be reliable under such adverse conditions.

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That's very good point.

There are always glitches in the system and network outrage is inevitable, at least for now, don't know how things will turn out in the future.

Sadly, New York has no public payphones anymore, hopefully we find other alternatives in times of emergency.

I believe physical banks are still much relevant, its just about how long will they be available, now that almost everything is going digital. Cash, I think will be the only reason for their future existence as I still believe more can be done online than going there in person, which is somehow draining at time.

I remembered paying for my school fees in a bank where a lady lost consciousness due to sofocation this would have been avoided if she has made the payment online and not walking down there.

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It's somewhat ironic, considering that The Soylent Green, classic 1973 science fiction film depicting dystopian 2022 New York, featured street pay phones as the only tool of communication for NYPD.

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Yes it is.

Now with the last one removed, how do we contact the NYPD. Lol

I guess technology has its own pros and cons, and how it affects our society. I personally don't see a reason why it needs to be removed, there are cases of emergency that will need the use of payphones, but what do I know.

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Yes, I think fiscal banks will go that way too.
As I see around me, less and less banks are there.
The “older” generation is still attached to them. As they don’t have a pc or smart phone. But once that generation goes.
It’s over.

All will be done on-line. As already is. Why have the cost of an office? When nobody comes in anymore.
If you look, that you can open an account on-line nowadays. Verify yourself on-line to prove who you are. Sign paperwork on-line.
You don’t need to go in anymore.
It’s inevitable they disappear.

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You are right. The older generations are the only ones still actively involved with the banks.

Its easy for younger people to use a mobile app for their transactions, either in big or small amount.

I guess it's only a matter of time for everything to become mobile.

I wonder how much risk this pose for individuals in the future, cyber security needs to be strengthened now more than ever

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We don’t know how much risk this will pose, but so far the securities for now are kind of ok. But they do need to advance with the changes… as they will be vast.
Some people will take advantage of it more in other ways than.

Strengthening now and continue to do so is the way forward.

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It's a continual process, no doubt. More needs to be worked on everyday in terms of security.

There will be vulnerabilities as time goes on, that's the challenge we have to overcome with every update.

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Indeed!

We will find a way, as we have too 🤓

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GM peeps! I am so happy that I am back at home finally and again able to do all my crypto operations. It seems I have to be prepared for a mobile setup SOON.
Only a little more than 24 hours left until the SPS validator nodes license presale.
Who is planning to get one?

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Hello! Welcome back

Are you on the road a lot?

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Unfortunately I can not really shoot movies at home, so yes I have to be on the road a lot.
But I am shifting a bit in my life rn, and might go full time blogging on LEO and Hive.

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Although the market is in the red, it looks as if it has stabilised a bit. I think the war will still have some more negative impact on the numbers!!

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PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
@rzc24-nftbbg(2/5) tipped @fabian98 (x1)

Learn more at https://hive.pizza.

The heading for this day's Leomarkettalk is scary. "More pains..." I just hope the dip doesn't go Dipper than it is.

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Get Real, Lagarde — The Underlying Asset ‘Guaranteeing’ Your Euro Scam Coin Is a Gun

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Source credit and full story - https://news.bitcoin.com/get-real-lagarde-the-underlying-asset-guaranteeing-your-euro-scam-coin-is-a-gun/ - Graham Smith

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