You are viewing a single comment's thread from:

RE: Gold, Stocks & Cryptos ALL Down : What’s Up?

in #steemsilvergold7 years ago

"Vampire Squid" is Goldman Sachs, not the Fed @buggedout. I worked there so I know. Aside from that, I've been thinking a lot about how macroeconomic variables affect cryptocurrencies, if at all. I don't think there's any real connection between inflation, interest rates or currencies and crypto. Maybe when there's fear and lack of trust in the real economy then crypto should get a boost?

Sort:  

No connection between inflation and interest rates? Wait, what? Macros not affecting cryptos?? Lets see what btc does on a +10% DOW plunge. BTFD, maybe.

there's no connection between inflation and crypto as well as between interest rates and crypto :) there's obviously a connection between inflation and interest rates. don't think global GDP growth is a factor in bitcoin price - don't you agree?

The Tuesday plunge proved macros and cryptos are intimately connected. The Thursday plunge may have been the first sign of uncoupling.

Global GDP dropping would likely bring crypto down, but we haven't seen that one since pre-09 so its impossible to know. I would bet that a drop in the one would produce a dive in the other, but after this week, it may be different this time.

Clearly though, up until Thursday, when the dow dipped, crypto fell.

It's kind of the same beast but people also refer to the Fed as the Vampire Squid or even The Vampire Squid of Vampire Squids. That cartoon is actually from 1912 and may have gone some way to inspiring the nickname.

Coin Marketplace

STEEM 0.16
TRX 0.17
JST 0.029
BTC 69494.73
ETH 2512.29
USDT 1.00
SBD 2.55