It's Trump's Fault
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I'll make this short and sweet... I've been doing a lot of thinking about why crypto prices have been flatlining for most of 2018 and I've come to the conclusion that it's Trump's fault. That's right, there's finally something we can actually blame him for that isn't politically motivated.
If you think back to why people got into cryptos in the first place it will all make sense. Many of us could see the direction in which the economy was going- straight downhill until it crashed. Ten years ago the more astute among us began buying Bitcoin as a safeguard... an honest system of currency valuation and exchange that wasn't manipulated by crooked outside forces (the Fed, investment banks, etc.). We were all convinced that something bad was afoot and we wanted our assets protected.
As time went by the cryptospace got bigger and bigger with ICO's and altcoins... all tied to BTC- when BTC prices rose, the alts followed suit, a dynamic that still holds today. Then in Oct. 2016 Trump got elected and the country went into a state of uncertainty... Trump was a maverick, an unknown quantity. 2017 was the year of the ICO and cryptos boomed culminating with the runup of December- the end of the fourth quarter. Most of the people who wanted into the crypto system were in by the end of Dec... what cryptos needed was more investors. It would take some incentive to get them in.
Unfortunately, many got in when BTC had topped $10,000 and they were disappointed when prices began fall- it was just a predictable adjustment. Here's an example: I got my doctor to buy a couple of BTC in July of 2017 when it was around $2500 (I think it was actually $2250) so when prices fell, she was still ahead of the game when the adjustment came. Her office manager bought in at about $12,000, when she saw the prices jump up. I cautioned her to wait, but she didn't- she sold when it dropped to $10,000 for a loss. My point is that price swings like that are an anomaly, not likely to happen very often. Investors that are swayed by emotion rarely do well.
People need an incentive to buy into cryptos, especially after being bit by the volatile 2017 market. That leaves institutional investors who at this point seem tepid at best about venturing into the cryptospace... most admit that it is the market of the future, but are waiting for the right moment to get in. The Van Eck ETF is unlikely to have the effect that most people believe it will- here's why...
People are satisfied with the Trump economy. The stock market is doing well and there's no reason to take money out of something that is fairly certain and predictable and put it somewhere that isn't. The people that believe the manipulated data from the various "experts" are the people we need to cajole into cryptos, but they're doing ok with the legacy markets. These are the people that in 2017 viewed cryptos as a get rich scheme and were snakebit so to speak when the prices readjusted downward.
So you see, it's Trump's fault for giving us what appears to be a solid economy. There are investment opportunities in the legacy system and therefore no real incentive to come into cryptos at the moment.
howdy sir richq11! I think you're right on in your theory, that perfectly explains why the cryptos have been down all year, that's brilliant!
Thank you my friend! It's hard to sell something new to someone that's satisfied with the status quo!
Makes perfect sense. As soon as things go south cryptos will rise.
I still hope some people will see the value of this community, yet I think we need larger daily user numbers before we can reach critical mass.
A lot of people were put off by the last HF... despite what the devs say, it looks like the whales and devs are the only ones benefitting from these "improvements."
You actually mean to say Trump isn't to blame for everything? :O
shock
I still believe Crypto will rebound.
The economy is in for a rough ride after another globalist bubble is about to burst.
The next bubble I believe will be the debt bubble... this one is too big for bailouts! It's unlikely there will be an economy left after that one. Deutsche Bank alone is sitting on $60 trillion of uncollateralized bullshit derivatives! That's just one bank.
It is the same as 2008 - housing goes first. House prices in CA are down 42 % 42!!!
Engineered banking crime - and these criminals want every detail of our personal life for every transaction. They are the money launderers. Deutsche Bank one of the worst criminal - though they are all the same.
The only thing that sets DB apart is the amount of their exposure. Banks like HSBC, UBS, etc. have the assets from drug and human trafficking money.