Bitcoin Enters Dangerous Territory
Bitcoin Enters Dangerous Territory
Good morning Lions I trust you have been safe and well and roaring into action.
The market is in a bit of a flurry as Bitcoin enters dangerous territory trading on it's seventh consecutive day in the red which hasn't been seen since 2014. However, Bitcoin was only trading at around $US560 a coin not the tens of thousands it is today.
2020 brought on the largest crash at the emergence of the COVID19 pandemic as people thought the world was ending but it didn't and shortly after Bitcoin reached new all time highs as mainstream media began reporting on Bitcoin millionaires.
The market turmoil doesn't solely surround Bitcoin as the Dow Jones is also suffering heavy losses and as we know the Crypto currency market is heavily tied to the mainstream markets.
However, the Crypto market cap has dropped from $US1.7 Trillion to $US1.2 Trillion suffering a $US500 Billion dollar loss within a week which now makes it's previous highs in the middle of the pandamic of $US2.8 Trillion seem unreachable.
No doubt the market is reacting to recent announcement that nations move to tackle inflation by increasing interest rates. During the pandemic many nations across the globe provided economic stimulus packages to keep their economies from collapsing. This has led to record level inflation rates with many governments now trying to raise interest rates to combat inflation. A move many are calling dangerous as it will risk the global economy especially with the war between Ukraine and Russia causing significant financial impacts across all nations and economies.
This is also playing out in Elon Musk's deal to purchase Twitter for $US44 Billion now on hold with many people asking why. Elon Musk is not an uneducated man and is financially smart.
Seeing the current economic downturn which is impacting techcompanies the greatest his $US44 Billion dollar offer is yesterdays price on todays losses. We can expect to see the Tesla CEO renegotiate his offer for a much lower offer.
Why are Tech Companies suffering the greatest loses?
Simply put, the pandemic is coming to an end. Tech companies soared during the pandemic has billions of people remained home they relied on technology to remain connected to each other and pass the time. Now that the pandemic is coming to an end people are opting for real world connections over online ones. If you were ever hoping the Metaverse would be a successful venture then you need to research peoples behaviours. Quite clearly tech gets pushed to the back once people can go outdoors again.
Will technology companies be able to pivot or will they now subside is yet to be seen we have advanced quite significantly as a society due to the technology developed and it would be a shame to see it wasted.
Do you think the market will recover or is it too returning to prepandemic levels?
Let me know in the comments section below.
This is not financial advice and readers are advised to undertake their own research or seek professional financial services
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▶️ 3Speak
5 years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem
Thanks for the update buddy.. always like to hear your opinion!
Thank you, I'm glad you enjoyed the news segment. I'm experimenting in making things a little more appealing to the mainstream.
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It's lookin pretty good! keep it up!
Nice point of view. Crypto going back to all time high won't be easy
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Thank you, it is a challenging period. We've had 13 years of historically low interest rates and now we are going to struggle with inflation.
Very uncertain times a head.
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https://twitter.com/ValloneSimon/status/1525980637542641664
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I don't think the markets will recover until the supply chain issues are resolved. At least that is my view of things with even the Fed thinking that they have to tighten. So I guess we might be in a sideways or downwards trending market for the next year or so.
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SEC was already after Do Kwon had he been successful they probably wouldn't have had a case. But now that Mir Finance has crumbled and crashed they have a stronger case against him. He is forked I'd say.
Every man and his dog will be after him.
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