This could be the last shakeout. Asian and European stock market crashes as well. I just bought Ethereum!

scandinavianlife (68)in #bitcoin • 7 years ago (edited)

There is not point of doing a market update today, because it's pretty irrelevant what's going on. There are no particular bad news, just markets in general crashing. I don't know what's going on. The stock market crashed yesterday as well. And today Europe opens EXTREMELY negative.

Those who laugh of cryptos and says "told you so" should take a look in the mirror. How are your stocks doing?

I'm so glad I managed to save 1/3 of my stock portfolio yesterday. I just bought Ethereum at $575 Later this evening when the US market opens I will sell the rest of my stocks/funds (american funds). I will either hold that outside the market or buy Ethereum/Bitcoin ETF's.

Perfect timing in my opinion. As the traditional market crashes as well, people will think twice about the crypto FUD and bubble talk. Sure, Cryptos were in a short term bubble, but the traditional market was in a hundred year old fiat bubble.

But be aware that people are much more scared now, so the recovery will probably take some time. And that's what we need as well. We need the market to slowly raise.

November 26th 2017 we had an all time high of $280 billion market cap. That's 3 months ago. 3 months ago since we had the same price we have now. Do you remember how you felt then? There was a lot of talk about moons and lambos.

Nothing has changed. Except the fact that the traditional markets are crashing - which makes this whole thing WAY WAY more interesting all of a sudden.

Update: Scandinavian online brokers Netfonds (which I am using) and Nordnet are down and/or experiencing issues. People are having trouble getting their money out.

#crypto-news #cryptocurrency #crypto #beyondbitcoin

7 years ago in #bitcoin by scandinavianlife (68)

$84.81

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steemswede (70) 7 years ago (edited)

I think you'll be very happy with buying ETH at $575 in a couple of weeks. Kudos for not buying into the fear mongering.

$2.39

2 votes

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michiel (68) 7 years ago (edited)

Bitcoin is in the panic fase now, what indicates that the bottom is near. Today and the last 6 weeks since crypto's are falling as wel the news is very good (today Japanese airline to accept BTC and Coinbase implements Segwit ). It is purely the hype cycle that comes to an end.

The stock markets are very interesting. The 30 year downtrend in interest rates is broken, oil price rising and USD tanking. These are the ingredients for a perfect storm, especially in a stock market that has been rising for 10 years by free money / air. Individuals, companies and governments had had acces to free money and when the interest rates rise it isn't free anymore, interest on dept have to be paid.........

I really expect a huge crash that makes 2008 looks like the golden years. Central banks can't play with interest rates this time (around zero already) and bail outs will be way harder because all govs. are bankrupt.

I hope BTC will be steady soon, so it can function as one of the safe heavens investors will fly to. BTC is very cheap now and it makes a lot of sense to sell off your heavily overvalued stocks or bonds and store it in BTC.

$0.70

1 vote

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realmsofcrypto (50) 7 years ago

Yeah, globally all the financial markets are a mess. I see a lot of people are hopeful that the traditional markets will recover, but that ignores the fundamental flaws of this current financial system. The recovery from 2008 was very tepid and never addressed the underlying cause. In fact the only solution the government could come up with was pumping money into everything and keeping the confidence game going just a bit longer. This in turn just kicked the can down the road, while simultaneously making matters worse by creating a huge debt crises. Most of these stock gains are a result of American and European central bank QE measures being used to inflate stock. Putting lipstick on a pig basically.

$0.62

4 votes

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scandinavianlife (68) 7 years ago

That pretty much sums it up

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movingman (69) 7 years ago

I just got some ETH also with "some money" I'm hoping also for a sloooow riseup in the crypto world, that would be the perfect investment year 2018. Things will definitely rise after Chinese Newyear is over.. I think I'll grab some Neo tomorrow morning also. Shit I didn't look at crypto tracker since a month,and it's amazing, a sea of bargains! Hi ho, Hi ho,of to work we go, gotta get funds for some crypto!

$0.04

3 votes

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scandinavianlife (68) 7 years ago

Yup! This could be a good level for a lot of people to enter the market! Small rebound there from 275 to 320, but we need to stabilize above 300 for a while in order to call off the crash. I think there is a chance we will go down to 200 or even possibly sub 200. But at that point I'm going all in.

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