/biz/ - Business & Finance

>>52564546
Crypto is a result of years and years of low interest and Keynesian economics basically pricing Millenials out of the housing market. People had a fuckton of money they couldn’t put anywhere else, so they essentially invented their own way to accumulate wealth independent of the existing system. This is why most crypto projects out there are scamcoins not tied to the tech behind it: they are a product of desperation.

As interest rates go up and lending slows, all that excess money will drain out of the economy into safer investments, like CDs, savings accounts, etc.

That’s why you’re seeing the tech bubble starting to give the first, treacherous rattles of its long overdue demise: it’s where the majority of that money has been concentrated for the past 30 years or so.

Raising interest rates can’t be put off any longer because it’s having horrible effects all over the place - people can’t afford groceries. The tech lobby, deep pocketed as it is, cannot convince politicians that people can eat their iPhones, and Washington should just keep the subsidies coming its way.

It’s not so much a targeted attack on tech so much as “when all this money is drained away, where was most of it?”
Oh right, in useless startups developing apps with silly names like Zuft and Splork to organize your sock drawer for you. These are indicators of an overheated market, made for VCs to bait investment, not for any long term goal.

Well guess who’s going down first? As usual - the overleveraged, the reckless, and those who thought the party would never end.

I could be wrong, the fed is slow walking this shit as best as it can, but that’s my prediction. The scamcoins will be washed out and the clean exchanges and solid projects will endure.

>>27522199
Checked and very based

>bought at 300
>sold at 350
>rebought at 240
let's fucking GOOOOOOOOOOOOOOOOOOOOO

me rn

>>18602478
Post your current animal spirit lads

>he didn't buy aluminum