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Parp
:
You are basically betting against inflation if you are bearish on Bitcoin which I don't think is wise. I've also noticed you're bearish on both the Dollar and Bitcoin, isn't that kinda contradictory? lol
Parp
EZ_money
OP
:
right however we just began a rate cutting cycle which is bearish for the dollar and many other central banks are entering their rate cutting cycles too at nearly the same time as us due to being almost in sync after covid forced most central banks to cut their rates signifigantly at the same time back in 2020, and we know what happened to crypto not long after. So basically these rate cuts will further devalue most fiat currencies overall, check out a chart of bitcoin and ethereum and put it side by side with the dollar and time stamp the federal reserves rate cuts and rate hikes and u will see there is a very strong inverse correlation between the dollar and crypto, and u will see rate cycles play a massive role as well. While the past may not play out exactly as it did before this is extremely insightful and gives an idea of what is likely to come over the next year or 2. I want you to take a look and give me your honest thoughts afterwards.
EZ_money
OP
Parp
:
there's a big difference this time. BRICs nations and gold backed currencies are coming. wars are escalating, facing stagnant economy with inflation will drop us into an inflationary recession that during geopolitical unrest will not turn to a speculative asset the BTC market is smaller than silver. it's a man made created machine code is all not backed up by anything and is very easily hackable very unsecured protocols it's running on because it's old technology compared to what we have now. it's not going to last.
Parp : You are basically betting against inflation if you are bearish on Bitcoin which I don't think is wise. I've also noticed you're bearish on both the Dollar and Bitcoin, isn't that kinda contradictory? lol
Miko-san Parp : think it's just being salty that he didn't partake before it shoots up
EZ_money OP Parp : yeah if Bitcoin was a real hedge against the dollar but it's not.
EZ_money OP Parp : plus dollar ran up bitty is on a trend down just like this ran up, now is going down
Parp EZ_money OP : right however we just began a rate cutting cycle which is bearish for the dollar and many other central banks are entering their rate cutting cycles too at nearly the same time as us due to being almost in sync after covid forced most central banks to cut their rates signifigantly at the same time back in 2020, and we know what happened to crypto not long after. So basically these rate cuts will further devalue most fiat currencies overall, check out a chart of bitcoin and ethereum and put it side by side with the dollar and time stamp the federal reserves rate cuts and rate hikes and u will see there is a very strong inverse correlation between the dollar and crypto, and u will see rate cycles play a massive role as well. While the past may not play out exactly as it did before this is extremely insightful and gives an idea of what is likely to come over the next year or 2. I want you to take a look and give me your honest thoughts afterwards.
EZ_money OP Parp : there's a big difference this time. BRICs nations and gold backed currencies are coming. wars are escalating, facing stagnant economy with inflation will drop us into an inflationary recession that during geopolitical unrest will not turn to a speculative asset the BTC market is smaller than silver. it's a man made created machine code is all not backed up by anything and is very easily hackable very unsecured protocols it's running on because it's old technology compared to what we have now. it's not going to last.