Some people are thinking the crypto cycle is over but as it gets over sold and gold has been going parabolic it is my assessment that some of those profits will spill back into crypto because gold is overbought and Bitcoin will become oversold and a lot of the alts suddenly look oversold.
The stock market in a lot of ways is smoke and mirrors. Rare Earth Metals mining companies are catching a bid but none of them have produced anything from their exploration and "mining" and some of them have been selling this dream for decades and never produced anything. Weird game but the premise of a lot of things being done in the United States at this point is a pipe dream. The cost is way too much. They have people in Africa hand mining cobalt and hand mining Gold in various places. We can't compete with that. A lot of the electronics really can't be manufactured here and a lot of the drugs can't be manufactured here. People aren't ready for the inflation the Tariffs are going to create.
People are looking for a place to invest and I give them the advice of not investing in anything ancillary to dating. We are about 8 years behind Japan. The birthrates are imploding and guys are giving up.
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A very fair assessment!
The tough thing is that 1.6 Million Crypto traders supposedly got liquidated last week so a lot of them could be down for the count.
I heard people were killing themselves....
I'm sure it happened. I don't get how people feel that trapped by a financial situation like that.
I can more understand a debilitating illness or insane injury but not some crypto trades.
I have already played of out the scenarios in my mind of what I would do if I was practically naked and afraid with a negative balance to my name.
I guess when you put everything you own into it or someone trusts you to put everything they own into it there is a lot of pressure. I don't know. Like they say, it's a permeant solution to a temporary problem...
Well and I wonder how many people have some life insurance policy and in a whirlwind of bad decisions they get liquidated and figure the only way their family will do ok is if they pretend to fall asleep at the wheel and slam into some concrete barrier.
I don't agree with it but I can see how some people would lose their minds.
Yeah, I think that might be part of it. Probably not for everyone though.