RE:What the hell is happening with Crypto? DoumDiDoum - (10/23/2023 7:34:08 PM)
What the hell is happening with Crypto?
It's been a while since I looked at that scam... 10% up today?!?
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DoumdiDoum, it makes me wonder if cryptocurrencies will become a safe haven just like gold in a down market. It's value ideally would not be affected as easily as stocks or currencies, bonds. It should be more stable. Ideally.
I'm surprised Bitcoin is still around. 10 years ago I would have said no way.
So it might be a safe haven. Time will tell.
It could also be related to a lot of people expect the SEC to approve a bitcoin ETF in the next few months. That would make it easy for anyone to actually buy bitcoin. Some of the speculative money will probably go there when it is just like buying a stock.
So people expect an influx of money into Bitcoin and other crypto's when that is approved. There will be a lot of demand and the price should go up one would think. By the time small investors can get in. The demand will likely be already priced in. And there might be an initial rise, while the little people buy, and the big guys are selling.
As always, jmho