/biz/ - Business & Finance

[Anonymous No.52316666]

This must be fucking worse than the bear after 2017 right? Morale was shit already and then something like this happens. The scale of this mess seems insane. Where is the light bros.. There must be some light after all this darkness but I cannot sense it anywhere.. crypto cant handle rising interests as it seems and they will keep rising and might stay high for a decade……

[Anonymous No.52316716]

>>52316666
Nah. It's not even half as bad, satan.

[Anonymous No.52316741]

>>52316666
Nope, definitely not worse. Also, fucking checked.

[Anonymous No.52316790]

>>52316666
It's over basically, the whole market is completely manipulated and gay.

[Anonymous No.52316806]

>>52316666
Lol this is a nothing burger compared

[Anonymous No.52316816]

>>52316666
It's gonna keep getting worser

[Anonymous No.52316827]

>>52316666
the light is not in fucking crypto thats for sure, and checked

[Anonymous No.52316868]

Is this the drop to 3k?

[Anonymous No.52316895]

Haha. We're not even close.
I'll consider buying a bit when
>everyone on this sub is in complete despair
>the US gov has put on a bunch of regulations
>Michael Saylor's company is out of business
>most people consider crypto a dead fad
>bitcoin is in the low 4 digits

That will be the bottom. Not sooner.

[Anonymous No.52316894]

>>52316666
its fucking over. this time for real.

[Anonymous No.52316897]

>>52316666
Checked quads of doom!
Nov 2022 is pretty much Jan 2018, before the dump got started

[Anonymous No.52316909]

everybody agreed that was the end of a niche internet cycle of fake funny money in 2017

this time its banks and politicians and whole nations are involved in this shit

[Anonymous No.52316910]

>BTC dropping below previous ATH for the first time EVER
>not worse than 2017

If you believe this you may be retarded

[Anonymous No.52316917]

>>52316666
It was meant to happen checked
Pray that we get that "Golden Bullrun" after this. (not expected until after jan 2024)

[Anonymous No.52316933]

>>52316666
checked

[Anonymous No.52316934]

We're approaching the bottom
Next run is going to be abyssal and focus more on using crypto in the background so most people won't "hodl" directly.
There's going to be a project on Bitcoin that redefine everything.

NFTs will be the backbone of custodial memberships that will replace Patreon, subscribestar, locals etc.

[Anonymous No.52317012]

There is a major long-term problem now that didn't exist until the bitcoin drop from 60k to 20k. Bitcoin and crypto had big drops before, but the difference is that this time all of the normies are aware of the technology and seeing all of the bitcoin millionaires. When it dropped from 60 to 20 all of the normies collectively went "see, I knew it was just a big ponzi scheme" to make themselves feel better about missing the original bullruns. This means that long-term everyone that gives a shit about crypto is already in crypto. There will be no big mass adoption that makes everyone who is in it at 15k or 20k have their wealth skyrocket. The normies don't care anymore and have already decided their stance on it. It's not just an unknown new tech that has opportunity to be discovered by normies anymore. They discovered it, and are complacent with their views on it. It's over.

[Anonymous No.52317031]

At least you didn’t invest in NFTs.

Right anon?

[Anonymous No.52317047]

>>52316666
This shit market is going to keep crabbing until the next halving isn't it?

[Anonymous No.52317075]

>>52316666
I’m still laughing so no, this isn’t the bottom GigaSatan

[Anonymous No.52317079]

>>52316895
>>bitcoin is in the low 4 digits
not happening

[Anonymous No.52317116]

>>52316666
Get a job

[Anonymous No.52317176]

>>52317012
Normies will fomo and think they'll be smarter this time and sell at the top. Only to get rekt again, but the cycle will repeat. You underestimate how stupid normies are. Look at them buying real estate, look at them rooting for their president who is going to solve all their problems only to screw them every single time, and yet the go vote every 4 years. Retards always go full retard, it's their nature.

[Anonymous No.52317224]

>>52317012
I read the same exact argument early 2018

[Anonymous No.52317234]

>>52317079
Explain to my why not…
As I've posted in other threads today:

Bitcoin has never been through a recession.
(minus the scamdemic one, which the central bank printed its way out of quickly)

Bitcoin was born in the era of EASY MONEY and ZERO PERCENT INTEREST RATES.
It is a HIGH RISK asset, which people buy when times are good.

So now let's see how it performs through what will likely be a SEVERE recession.
Note pic related.
The odds of recession are 95%+ when this chart goes negative.

I think you guys should consider seeking safer assets than magical internet tokens.
The next couple years are almost certain to be an economic shitstorm, and nobody will be gambling on dog coins during that time.

[Anonymous No.52317250]

>>52316666
Morale was great, remember how hopefully everyone was from that 2% BTC pump? I almost bought back in myself

[Anonymous No.52317256]

>>52317012
This isn’t an issue and it’s very comforting: there are smarter or wealthier or smarter and wealthier people than you or I in crypto and they will bull market the market when they feel like it. News cycle will promote crypto, “it’s different this time”, and fomo will happen again. You are also forgetting a huge amount of zoomers who weren’t joining the workforce until just now. Many watch YouTube and Twitch and will start participating. That’s a good thing.

[Anonymous No.52317271]

>>52316666
First of all nice quads.

There is no such thing as a "bottom" in crypto currency, there is no "floor", the is no lower limit. In real companies, which is what all this stuff is based off of, you would have people that own the company - shareholders, and the company would make a product with value. And that is always worth something, that is why there is a lower limit with normal financial holdings. With crypto the entire thing is imaginary, hence the only bottom is also imaginary. It is literally imaginary, pretend, magic money based on absolutely nothing. The dollar is backed by the government, you pay taxes with it, people have to accept it as legal tender. The only place this is true of crypto is El Salvador which is a small Mickey Mouse country, that must be heading the way of the poorest African countries right now.

In a traditional crypto winter all altcoins disappear, they get absolute slaughtered and new ones take their place. That didn't happen with this "cycle" - (and I use the word "cycle" very loosely, if we're going to assume crypto isn't completely over forever). I'm sorry but bobo isn't going to be happy with the like of dog3bonk and pregnant-butt by themselves, he needs tons of the top 50. He needs bitcoin to go to sub $8k, and maybe btc, eth and bnb will elude his grasp. Everything else is fucked. Whether some might come back or not is up for anyone's guess, stuff like shib, doge, sol, link, icp, even fucking hex is still around I believe, many of these "untouchables" could be completely destroyed and never come back.

[Anonymous No.52317373]

>>52317271
>El Salvador which is a small Mickey Mouse country, that must be heading the way of the poorest African countries right now
It's one of, if not the, fastest growing economies in the world. They only bought a few thousand bitcoins which is peanuts compared to their budget. You've just proved that you don't know what you're talking about.

[Anonymous No.52317434]

>>52316666

Checked and doom-pilled. The pain hasn't even begun. December.

[Anonymous No.52317569]

>>52317373
No, everything he said is on point.
You are coping.
The only reason anybody wanted magical internet tokens was to use them to GAMBLE.
Nobody actually wants the 1's and 0's.
Look at this sub. All anyone really cares about is *price in USD*.
The exact same number of people are using bitcoin to transact in the real world as were 10 years ago:
ZERO.

NOW:
The era of gambling is over.
The era of central bank easy money has subsided, for who knows how long.
I keep trying to point this out, but none of you ever listen:
People are NOT going to be gambling on dog coins during a recession.

You always hand wave this warning away, or call me a bitter no-coiner or whatever.
I sold all mine in 2021, because I knew that the FED tightening was the beginning of the end.

Crypto has never been anything more than a casino to play in with your stimmie cheques.
If you continue to hodl now, you are gambling that there is going to be another fake pandemic,
for which you get locked down, and the gov sends everyone thousands of dollars again.
I suppose that's possible, but unlikely.

[Anonymous No.52317694]

>>52316666
checked. I am 80 percent down overall. I was working two jobs entire summer, everything I could leave aside I used to buy BTC at 20k in October. now it is dumping again and i am down even more. it does look bad, but I think it is not the definite end. still not selling, still buying more, all the way to 0 if necessary

[Anonymous No.52317804]

>>52316666
checked but 2018 felt worse. It went from 19k down to 3k. Based on that I think we get down to 10k and then crab there for a few months to a year or two

[Anonymous No.52317845]

>>52316806
It really is. Some unknown Jew popped up on the scene last year. And now he is gone. Just a blip. Who cares? Everyone already knew not to store crypto on centralized exchanges, so no one got hurt.

[Anonymous No.52317868]

>>52317694
Based. Same here friend. Guess I will be busting my ass until crypto recovers. Can't lay off when prices are this depressed. Gonna keep buying.

[Anonymous No.52318013]

>>52317694
>>52317868
slurpbros... we're going to make it

[Anonymous No.52318257]

>>52317569
>The exact same number of people are using bitcoin to transact in the real world as were 10 years ago: ZERO.

Those statistics that you pull out of your ass don't work on me because I know at least one person who uses bitcoin: me. I live in the future buddy, unbanked and sovereign.

>If you continue to hodl now, you are gambling that there is going to be another fake pandemic, for which you get locked down, and the gov sends everyone thousands of dollars again.
It's exactly what's gonna happen.

[Anonymous No.52318350]

>>52316666
It definitely feels worse.

[Anonymous No.52318632]

I'm loling

[Anonymous No.52318694]

>>52316666
This is nothing. People thought crypto was actually over last time. Nobody seems to feel like that yet.

[Anonymous No.52318742]

I started with Doge, bought 8 billy Shib for 30 dollars (I paid more for gas lmao, imagine if I put in 300) and I feel like shit for not taking any profits at ATH. I can't imagine how some of you must feel. Can't imagine putting in 1000s or more to lose it all. I also hate it when I think "maybe I should take some profits now because something will happen for sure" I don't do it but I was right, again

[Anonymous No.52318752]

>>52318694
Just means we're still far from the bottom

[Anonymous No.52318769]

Most bullfags completely dont consider the fact that in march 2020 BTC went to 3k.
The only reason BTC went to 69k was because of QE and the massive money put into stocks and crypto (influenced by tiktok and twitter also) and people were forced to stay at home. Its why robinhood exploded as well, now that the peak hysteria of putting money into stocks and crypto is over especially with the current energy crisis, i can easily see BTC going back to 6-10k (maybe not lower since more people are aware of it and might consider it generational wealth to buy the dip at those levels, same for the institutionals that will survive the economic collapse. The rest of you bagholders can fuck off, but i aint playing with leverage since MM's are fucking everyone atm to squeeze as much money as possible.

[Anonymous No.52319049]

>>52317256
This. Time only helps crypto not hurt. Younger the person the more willing to accept and buy crypto. And also yes, once a fomo hype cycle starts people get sucked in. I have friends who lost money three cycles in a row. Every time they say they are done forever. But when you smell money, and everyone is desperate..

[Anonymous No.52319145]

Current bear is worse because the top was severely underwhelming. Many alts are basically at 2018-2019 bear market level and BTC is at 2017 level ffs

Also, I feel like in 2018-2019 bear the market made much more sense structurally, The top 20 began to look better during the bear and good projects prevailed, Now the top 20 look even worse than may 2021 kek

[Anonymous No.52319281]

worse? AHAHAHAHAHAHA
When all the degens are out, when all the scams are down then you can say that.
You haven't seen 50% of the dump.
People are calling this a bear market when it actually haven't even started xD

[Anonymous No.52319469]

>>52316666
Don't listen to the pretendfags, it's indeed way worse than 2017, because this time around it's not a lack of faith, but absolute disgust from the kikery tainting everything they touch.
Now we don't fear organic crashes triggered by fear, but inorganic whales' shenanigans. And it's worse because you don't trust the pumps either. If anything, pumps make you even more wary.

Also they will claim muh % was worse, but that's not what matter. What matter is we are down -52K in REAL terms, while in 2017 we were only down -15K.
And the pain isn't over yet, we will probably be down by 60K before EOY.

[Anonymous No.52319484]

>>52316910
That coin is less relevant every year

[Anonymous No.52319515]

>>52316666
>This must be fucking worse than the bear after 2017 right?
Nice quads, but it isn't. You summerchilds that came after covid don't know what despair looks like. Not yet

[Anonymous No.52319640]

>>52317694
With retards like you, jews can sleep soundly, their cash cattle will always keep them rich with a mentality like this.

[Anonymous No.52319681]

>>52316895
>on this sub
go back

[Anonymous No.52319703]

>>52319515
The current chart look way worse than this but ok.

[Anonymous No.52319790]

>>52316666
>and then something like this happens
more will happen

[Anonymous No.52319837]

>>52319703
But the feeling isn't. Still too much confidence, too much scams up and running, way too much activity. Like I said, none of these newcomers have seen a bear yet.

[Anonymous No.52319875]

>>52316666
Checked, but this is nothing compared to 2018. Fucking child's play in comparison.

[Anonymous No.52320069]

>>52317012
14k now, coiner. Go fuck yourself. Loving every minute

“Have fun staying poor”

[Anonymous No.52320119]

>>52317569
>The era of central bank easy money has subsided

lol, lmao even

Do you even remember why we had this easy money to begin with? Because of a financial recession. Have any central banks stopped or even slowed buying liabilities? No, they haven't. Is there a new magical plan to deal with a recession aside from QE? No, there isn't.
Whatever rate hike the fed taketh, the fed giveth. And once we get back to 0% interest or even CBDC sanctioned negative interest, people will be all over crypto again.

[Anonymous No.52320122]

>>52319515
I've been through 2017/18 and this crash is far far worse, for many reasons, although the mood is identical as of today. The only difference being I'm up 50x since then, so I don't have to actually worry about bills.

[Anonymous No.52320224]

>>52320069
Me too man. Nice digits. They're getting fucked indeed and it's joyous to watch

[Anonymous No.52320268]

>>52318752
We're definitely far from the bottom. Stack up your ammo and be ready to get in when the true bottom is in. It's definitely gonna be a long ride from here.

[Anonymous No.52320401]

>>52316666
Bitcoin is at 25% of its ATH right now. Back then it went down to 15%.

[Anonymous No.52320436]

This reminds me of nov 2018 actually, when btc had been bleeding all year, seemed to stabilize then took a big stinking shit. Sometimes I think the ponzi is finally over but retards are an unlimited resource so it'll probably be 100k next year.

[Anonymous No.52320443]

>>52317012
Normies did not have the capital to push BTC to its ATH.

[Anonymous No.52320464]

>>52317047
Just keep buying.

[Anonymous No.52320487]

Nothing will get better. We are doomed to watch things get worse as the world devolves into self perpetuating insanity.

This existence has to be hell. I refuse to believe we aren't some side show for an interdimensional clown god to laugh over.

[Anonymous No.52320524]

>>52316666
Pets.com went to zero and people on margin lost more than just everything, they went deep into a negative networth.

[Anonymous No.52320608]

>>52316895
Every single person I know is contacting me to smugly say I have to get a job now, yeah crypto was too good to be true etc.

I bought eth sub $20, link sub $0.50 and XRP sub $0.30. I'm doing fine, staking/savings income is $450 a day now. They can't wrap their heads around being early.

[Anonymous No.52320683]

>>52317012
Goldman sachs and bill gate tier fed normies were always calling it a scam. When they fomo in like the michael saylors and jim cramers of the world did in 2020 then we get the true golden bull

[Anonymous No.52320706]

>>52316666
>crypto cant handle rising interests
Crypto can't, but Bitcoin spot price tanking possibly down to even 4 digits will mean that it will be profitable as hell to pump. Way, way, way more profitable to pump than it was at $69k, holy shit lmao

[Anonymous No.52320731]

>>52316910
>caring about AOL online

Yeah buddy BTC doesn't matter. Hasn't for over 4 years now. It was first. Its unique. It cannot be replicated. It's the only truly fair coin. It's also shit, slow, overvalued and left an extremely sour taste in people's mouths.

BTC is brand recognized as being that shit boomer crypto.

[Anonymous No.52320783]

>>52316895
>on this sub

[Anonymous No.52320877]

>>52316666
Ok Satan, but 2017 peak was 20k, and the bottom was 3k, 20k/3k = 6.6666666

Last peak was 66k so 66k/ 6.66 = 10k

Until we bottom to 10k, this still isn't as bad as the last one. Also, this seems to be echoing the last one because in 2018 it did the same thing, dropped from 6k to 3k.

We're dropping 20k to 10k, possibly lower. Pukl the straw out and begin slurping because when btc rallies in 2025 it will never be this low again.

[Anonymous No.52320879]

>>52316666
It's almost as bad. Everybody replying to you is a newfag, but essentially, the 2018 bear market consisted of losing 2 years of gains in a few months, without any pullbacks. To be on the same level, we'd have to go down to 10k BTC, which is pretty close, and a drop of over 80% ATH. if this is the same pattern as that bear market, this was probably the last drop. The thing is, it still hasn't stopped dropping so I believe the next floor will be our crab zone until the next bullrun, reason being why bears are coping this hard over it not being 4 digits yet. There's always the nocoiner bobos who don't even short but are still desperately hoping they can buy in at an entry they believe is "sufficient".

[Anonymous No.52320884]

>>52320683
>Goldman sachs
Meant jpmorgan, basically the globohomo hasn't fomo'd yet. Michael saylor was calling it a scam just like everyone else before 2020 and now he's all in.

[Anonymous No.52320892]

>>52320268
>Stack up your ammo
How are you doing this? Are you buying AKs or MAC-4s?

[Anonymous No.52320999]

>>52320877
I believe it will rally sooner but this is essentially correct, though I believe we might be incorrect about 10k being the bottom, even if it's what we would expect if this was the same pattern. Things always happen the same way, it's just that it's not 100% tit for tat.

[Anonymous No.52321014]

>>52320783
oops lol. i dunno why I said that. fuck. I admit it, I was just on reddit dunking on those faggots.

[Anonymous No.52321088]

>>52316666
I just want to still be alive and holding my bitcorns when the central banks end up owning a majority of it desu

[Anonymous No.52321107]

>>52320999
The last time, it literally dropped from 6k to 3k, in November 2018 after midterm election in US.

[Anonymous No.52321132]

>>52317569
whatever happened to the lightening network? that was the only way I could see enough jaded normies start to make real use of BTC

[Anonymous No.52321167]

>>52321107
Yeah, then it kinda got stuck there for a while. This is why I believe this is the last one until CRAB-23.

[Anonymous No.52321198]

>>52319281
as long as doge is top 20, bear is not over

[Anonymous No.52321217]

>>52321132
The lightning network is a scam. I think this bear market people will finally realize how bad PoS is, and we will either see a default to PoW coins or Hybrid algorithms.

[Anonymous No.52321265]

>>52321217
>The lightning network is a scam
I've been told this since 2017 lmao, nearly 50% of the time I've been using Bitcoin. And before Lightning "is a scam", Bitcoin "is a scam"
retards never learn, nothing new under the sun.

[Anonymous No.52321275]

>>52320401
>He thinks its over
We heading to 15% now nigga.

[Anonymous No.52321381]

>>52316934
The fact that people can say this is a serious comment let you know that we are nowhere near a bottom.

[Anonymous No.52321409]

>put buy order on first drop to 17.5k because all the monkey brainers are waiting for 17k and half of their orders wont go though
>immediate bounceback from 17k to 18.2k, take profit and leave
>put buy order on 16.5k because monkey brainers are all putting orders on 16k and half of them wont go through
>immediate bounceback from 16k to 17.2k, take profits and leave

Rince repeat. People are fucking morons.

[Anonymous No.52321474]

>>52316895
>On this sub
Say that one more time nigga

[Anonymous No.52321491]

>>52320892
Definitely not. Accruing more profits from staking stables on SpoolFI. Seamless and easy earning.

[Anonymous No.52321611]

>>52316666
>This must be fucking worse than the bear after 2017 right?
Same shit.

[Anonymous No.52321667]

>>52316934
>NFTs will be the backbone of custodial memberships that will replace Patreon, subscribestar, locals etc.
This is massive cope. Your gorilla jpgs won't change shit and will never catch on.

[Anonymous No.52321684]

>>52316666
nigger this is nothing. After 2017 it was fucking YEARS of nothing but ass rape and crab market.

[Anonymous No.52321705]

>>52316666
The light is the train coming to finish off the survivors after FTX's collapse ripples through the market.

[Anonymous No.52321742]

>>52316895
>On this sub
shittiest bait I've seen today.

[Anonymous No.52321747]

>>52321275
Oh well.

[Anonymous No.52322260]

>>52321491
Are you getting good enough yields for that? I heard APYs are dropping for obvious reasons.

[Anonymous No.52322277]

>>52316666
Of course, in 2018 I went from 10k$ to 1k$, no big deal, now I legit went from 5 mil to 200k and still dumping.
Should've sold would be an understatement

[Anonymous No.52322762]

>>52316716
>Nah. It's not even half as bad, satan.
this, 2018 was much worse in terms of emotional turmoil

[Anonymous No.52322861]

>>52322260
>I heard APYs are dropping for obvious reasons.
On the contrary, SpoolFi's APYs are improving especially after the launch of the smart vault creation feature.

[Anonymous No.52322971]

>>52321265
If you don't find it's centralization (inb4 counter argue with BTC node centralization) or the fact it abides and wants more regulation to be a massive red flag at the very least, then I will not be able to convince you that it is in fact a scam. It might not be premeditated but it is in fact a failed system and Vitalik has no one to tell him so.

[Anonymous No.52323393]

Oldfag who witnessed all the previous bear markets here. The general sentiment was much worse in 2015 (when BTC was at $200 and giving vibes that it was over forever, even to the early believers).

This year’s fall is spectacular in financial terms, but the sentiment remains way too positive. Too many shitcoins and NFTs still going on, too many talks of “buying at a discount”, too many threads about crypto on /biz/, etc.

Maybe one more year of problems + BTC at $8,000 in 2023 and $4,600 in 2024 will give you an exact taste of what crypto despair can be.

The bottom is not when everyone is posting pink wojaks. The bottom is when everyone stops posting them and talks about other stuff, like crypto stopped being relevant in any way. We’re not here yet.

[Anonymous No.52323429]

>>52316895
Go back reddit tranny

[Anonymous No.52323574]

>>52323393
>Oldfag who witnessed all the previous bear markets here.
Indeed 2014 mt gox was worse or equal to this

Wait until $10k is breached again then it will be worse. Expected within a week

Also I knew everything was over when a jew was let into the house