Markets can't get rid of the red.
Bitcoin saw below $30,000. Will Bitcoin lose its support at $30,000?
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Markets can't get rid of the red.
Bitcoin saw below $30,000. Will Bitcoin lose its support at $30,000?
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I don't think so but then again was wrong when I said I believed it would hold at 32k so what do I know >:P
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30K is also a psychological support, if it loses it, the disaster scenario comes into play.
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Very true. People are panic selling left and right
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Not only are people selling, they are also selling to provide liquidity in crypto companies that make wrong investments and have wrong algorithms.
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That's very true. And it's interesting to see how it behaves from now.
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Really interesting days await us. We'll wait and see
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And that we shall wait and see.
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Crypto, securities, metals, and other commodities dropped. I would have expected the metals to rise as the securities dropped, but they fell too. Something shifty is happening with the metals, but I don't know what it is.
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Something really weird is going on and I still can't figure it out. A few days later, we'll have to wait and see what happened.
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Let's take gold and silver as examples (whether it's the physical metals, or their respective ForEx equivalents XAU and XAG). Traditionally, when USD falls XAU/XAG rises. When USD rises, they fall.
Is USD falling because it is becoming a less-demanded asset, or is it falling because there's just so much out there that the rest of the world is oversaturated with USD?
Usually XAU/XAG are good indicators, yet they've been tracking with USD for at least a decade or longer due to manipulation of "paper gold" and "paper silver" by the bullion banks. For a while starting in mid-March 2020 XAU/XAG broke through to regain more of their true market value. In 2021 both slipped back to their January-February 2020 prices.
During the early days of Russia's
Operation Zin Ukraine, XAU/XAG rebounded in price to reflect their natural behaviors as safe haven assets. In recent weeks, they dropped back despite the situation transforming into a transition fromOperation Zto World War 3, 21st Century style.I don't have all the info I need to analyze events properly. I don't know how gold and silver are flowing specifically throughout the world beyond the obvious trend of making an exodus from West to East. I only know what the spot prices tell me. Something fishy or shifty is happening with the metals.
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I think it will depend on how the stock market moves but I think we will see lower prices first.
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The current decline is very different from previous ones. It seems like very interesting things are going on, I wonder where Terra is in these fluctuations.
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I heard the dip below $30K was from the 150B that they moved to help bring UST back up. Not sure how accurate that is though.
How true this is is currently unclear. But if true, it could have dire consequences. We'll wait and see.
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The info in the AMA that it could have been a hack is interesting too.
This is more interesting indeed. They manage billions of dollars. Only an insider can hack such platforms.
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If it is true. I think it is only speculation at this point.