Is This Dip Here To Stay?

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The crypto dip has been around for a good week now and while we had some recovery we seem to quickly be falling right back down and not able to sustain it. At the moment stock exchanges are closed and in the USA will be closed till Tuesday. That pretty much means institutional investing wont happen till Tuesday rolls around.

I look at the headlines today and I see nothing but negativity again!
Even from people that talked up crypto 2 weeks ago now they spit negative vibes.

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Things like

  • South Korea to Impose a 20% income tax on crypto transactions (This one I want to dig into more)
  • Jamie Dimon personally advises people to "Stay Away" from crypto (JPMorgan at first bashed crypto, then said he was wrong and guess what back to bashing again)
  • A 'Bloody Crypto' Memorial day weekend? ( I love the headlines with ?, possibly and could. Those things mean this headline can say what ever the heck it wants even if it's not true)
  • Massive bitcoin mine discovered in UK after police raid suspected cannabis farm (my personal favorite lol)

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That leads me into a few topics I want to go over.

The first being is this dip here to stay?

Personally I don't feel it is. There's far too many positives and massive droves of wealth that where shoved into crypto and projects of crypto for it to just dip and not recover. If you look t market caps you can see we only retracted 2-3 months. Again I say this a lot but this is right when people started going crazy and investing in every shit coin possible. I feel like this is more of a correction back to the levels we should be at without all the influencer overblown hype that's been happening these last few months.

Sure we will have some wild ups and downs still but I see us holding ETH for example around $2,000 - $2,500 levels and from there once news comes out of it's first update and moving to PoS I see this thing blowing the freak up in fall/winter leading into 2022. There's just so much waiting on Ethereum to fix their fees and if PoS fixes this as it should that means all of these apps are going to become active.

The Second being South Korea

We all know that here on Hive Korea influence can come strong and hard as most of the trading happens on their exchanges. This new law doesn't go into effect till 2022 so it really doesn't play any impact just yet. What it is, is if you transfer ownership of your crypto of over $45,000 or 50 million won it is subject to a statutory gift/inheritance tax of up to 50%.

Besides that another tax law will go into effect in 2023 again not playing an impact as of yet. This law requires those to report crypto earnings and pay tax on them. It also will put into effect for exchanges to have to hand over all information to authorities.

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Will this likely effect things?

It's possible but for the most part I think people are smart and savvy enough to start using decentralized system where no KYC etc is required and you can simply swap funds. To me this is just more FUD and governments losing control and wanting more greedy money for things they shouldn't have it for.

Someone please tell me when governments started attacking their own people. In my eyes, governments have become greedy, wasteful corporations that can nothing about their people. It's an extremely sad truth and this only continues to paint them in a bad light.

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18 comments
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Korea's decision to tax the crypto currency transactions would lead to a real problem, but i guess it would be just for a short term. Once the adjustments are done, I am sure there would be buying.


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In my eyes, governments have become greedy, wasteful corporations that can nothing about their people.

Unfortunately this is the truth. Do you think we can still blame the Koreans for pumps and dumps once the new changes happen over on that end? I don't know if would be worth the fees they incur to cause the pumps.

Posted Using LeoFinance Beta

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So far how I'm reading it is it's only done on certain transaction sizes. I'm sure there will be ways they find around these laws they always manage to do so lol
Hive for sure is close to Korea in terms of where a decent amount of the pump and dump comes from but that shouldn't be the case there is a VAST huge amount of people that could invest into Hive.

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I've been wondering about the dip myself. I don't think it will last. My ETH is making a turn around though I feel it will be some time before it returns to former highs. A lot of concerns came up about crypto during the dip that the industry is now addressing.


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Those highs from $40,000 + on bitcoin was fueled by nothing more then hype from influencers and people investing that most likely shouldn't have been investing and it blew the F up. It was just a matter of time. Now it's going to be shaky for a bit to it regains it's footing but I see these levels being about it. Of course you'll still up ups and downs but I don't see a major correction more then 15% up and down unless something drastic happens.

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I agree. Thank you for your response. I believe that it will return, but the industry may be much more stable once it does. The hype will still be there. I don't think it will ever leave. However, hopefully, next time around, it will be stable enough to absorb the impact of some tweets. I like that the industry responded by explaining, in one instance, how they are addressing power consumption.


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Don't get me wrong hype can be good and a VERY powerful tool but when you start throwing it around promising instant riches on a bunch of shit coins it's bound to blow up at some point which it did. If there was hype around a stable coin and project it would fair far better. You'd still have some blowback but it wouldn't be as extream.

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Yeah, true statements. It's amazing the similarities we see between the crypto trends of today and conventional stocks. Both are subject to hype, ups, downs, and bubbles. It's a little disappointing actually. Crypto is supposed to be so much more and, perhaps, it will be soon.


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I think it’s important to note this is impacting some things more positively. My NFT (Splinterlands) collection has slowly climbed back near the height it was at during the peak of the bull run. I don’t really think this is the same kind of dip we’re accustomed to. There seems to be more sideways movement than I’ve experienced before.

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Someone please tell me when governments started attacking their own people.

In western countries I think that was somewhere late 80s - early 90s. That's when politics turned from hefty discourse to populism, at least in Austria.
That was also when great wealth was achieved that would have been enough to call a stop to the post WW2 working frenzy. But then the turbo-suqeeze started...

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And here I thought @smooth had been successful. Rather than dumping dollars on the market it seems the solution was bashing BTC tweets and new taxes was required to bring the Hive Dollar to parity.


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Dips are like Bitcoin birthdays. Just count how many there have been and how old the Bitcoin is.

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Not really but it looks like it! 😋 I just wanted to say that this is normal if you've been in the cryptocurrency world long enough.


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an aside: i understand the point of the last graphic in your article, but a new reading coming in, maybe someone that knows about CUB, clicks on that link that shows the frendly little lion, and it takes you to a sight that is not CubDeFi and immediately asks for your email.

again, i understand, but it's a weird look.

Posted Using LeoFinance Beta

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Well I can't really use CUBDeFi it's not my domain and just sending them to CubDefi would be confusing as heck for someone new starting out in DeFi. It's targeted for new people I suspect a majority of people that already know about CubDeFi are already in it.

This will however be changing come next week as I roll out something new. Because I agree it's not the easily most beautiful flow for sure.

Where I implement it next and how it looks will be much more seamless and less confusing.

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even if the landing page that you're sent to had a bit more explanation i think it would be fine.

thanks for responding.

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Good point I could give it a better look and feel that looks like CubDeFi. Value that input thank you!
I can do that for the posts here. Other project will have the optin built right into the image so no redirect to a landing page which will be nice. One less step :)

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