Re:Bitcoin Falls Below $20k for the First Time Since 2020
by rvz on Saturday June 18, 2022 @05:40AM
(#31788502)
There you go. In the last 6 - 7 months the SNP 500 is down from its ATH, taking all the other stocks with it and especially even those at Netflix or holding NFLX stock. They have been awfully quiet ever since.
The market needs a wipe out of the speculators, VCs, scammers and retail investors to drain out the billions of dumb money to cause these prices to go down again to around November 2020. This is why once Tether collapses, we will see Bitcoin at $10K again, lower than we have seen since March 2020.
As for the stock market, It isn't done and can still drop further as soon as the Fed increases rates again in July and the layoffs will accelerate when the VCs continue to deny more funding for the vast majority of useless unprofitable startups that will also be wiped out.
Either way, Just like 90% of startups fail. 90% of these cryptocurrency / blockchain projects won't survive this bear market or even the first foot of regulations. The remaining 10% will continue to survive once again.
The market needs a wipe out of the speculators, VCs, scammers and retail investors to drain out the billions of dumb money to cause these prices to go down again to around November 2020. This is why once Tether collapses, we will see Bitcoin at $10K again, lower than we have seen since March 2020.
As for the stock market, It isn't done and can still drop further as soon as the Fed increases rates again in July and the layoffs will accelerate when the VCs continue to deny more funding for the vast majority of useless unprofitable startups that will also be wiped out.
Either way, Just like 90% of startups fail. 90% of these cryptocurrency / blockchain projects won't survive this bear market or even the first foot of regulations. The remaining 10% will continue to survive once again.