/biz/ - Business & Finance

>>29438857
I expect a cascading liquidation which makes the last one (only narrowly avoided) from 58k to 48k look like a joke. I expect a hard crash to at least $30k, but I'm not going to short it because as you can understand from my thread, I think leverage is bad.

>>29438825
There's a reason for this. The rich are smart enough to use relative (real) pricing rather than USD pricing. Asset inflation alongside consumer price inflation means you haven't gotten any richer. But if you only bail out the rich, and give nothing to the poor, then asset prices go up, and the rich don't have to pay extra for their food and gas, etc. You basically buy time for the rich to shuffle their assets around and price out the average person, but because consumer prices aren't up, main street business don't see increased revenue, and wages stagnate in nominal terms and go down in real terms.

>>29439044
>Do you think currency like Saudi riyal or Singapore dollar would be relatively safe? Meaning safer than North American or European currencies?
Not sure about either. Riyal might do well if oil continues to rise, however like with Singapore, it is completely dependant on external factors. Bin Salman probably has a lot of control over that and you're betting on somebody else's actions. If oil goes up and shipping tanks, I'd expect Singapore to struggle. Singapore has to deal with the China problem too. Everything is risky.

>>29439169
Tether, institutions, and relatively huge proportions of the globe sitting at home throwing their free money at bitcoin. All these things lead to increased demand and reduced supply. But it's a very one-sided trade and the vertical line straight up will come down. Even 10m people in the world buying an average of 5k usd of BTC/shitcoins is 50 billion dollars, far more than tether or institutions have pumped in, and 50 billion dollars in a crypto which a year ago was only valued at 100b is enough to easily have an enormous effect on the market cap.