Is the Crypto Bull Market Over?
In recent years, the world of cryptocurrency has been a rollercoaster ride of excitement, speculation, and jaw-dropping returns. Bitcoin (BTC), Ethereum (ETH), and a myriad of altcoins have captured the imagination of investors, tech enthusiasts, and even skeptics. However, as we navigate through 2024, there is a growing sentiment in the air: has the crypto bull market finally come to an end?
It seems fears of looming selling pressure on BTC from defunct exchange Mt. Gox and possible miner sales pushed BTC under $59,000 for the first time since late April.
Mt. Gox will start distributing assets stolen from clients in a 2014 hack in July 2024, after years of postponed deadlines. The repayments will be made in BTC and bitcoin cash (BCH), which could be setting the stage for additional selling pressure to both markets and added uncertainty in the space. For now it seem like the landscape appears different. The euphoria that characterized the bull market seems to have dissipated. As of this morning futures trades lost over $230 million in the past 24 hours due to liquidations. These liquidations were the highest since late June.
With already stretched traders these liquidations keep removing money from the markets creating a very negative space where people are less likely to keep piling money into the space. I don't know about you, but the profit gouging of cooperations or as the media like ton say inflation has still increased I know my expendable income has dropped. The first thing to go is crypto spending. I know economist say things are getting netter and stocks just hit an all time high, but my day-to-day sure stills like it's getting harder.
I don't want to get too political, but it is the 4th of July so my PSA for the day is for the love of god Don't let the 'inflation' be a reason to vote republican if you are in the USA. Republicans don't have a plan fix the issue. The only plan they have is to take over and destroy America. I need to do a deep dive into Project 2025, but for now I don't have the emotional energy to summarize their plan because it's too scary...
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Thanks for the info, I didn't realize that and just saw HIVE at $0.19. I'm a little worried
I'm a long term hive user I just wish the price would appreciate because no matter what anyone says if the prices keeps falling so does engagement.
It's slowed down for sure, over, we'll see...
I only wish there was a real third party in this country, neither of the two big ones really care about us little guys. It's all about power and money. Now we're stuck with the candidates from the geriatric unit who might not even live out their term. It's kind of embarrassing as a nation, China and Russia are laughing at us...
there is a 3rd party, pretty much everywhere.
the fck system, pol show, don't go vote! party, pretty much in all countries, they are the winning parties with 35-65% of total adult population. (except few, like australia, belgium, sweden)
that's how democratic the selections...
But no one ever really votes on the third parties.... We really need a third or more options that are competitive in this country...
I agree, most people don't vote, and they're idiots not to.
the problem is the system. went vote only once, when i was 18. was easy to recognize, it's pointless, just can cause destruction, nothing else.
good example: in my country, they formed twice the "3rd party", they got 20%+ votes immediately, and the corporate communists immediately saw the danger, so they immediately bought up the "leadership". and if they don't do, and the 3rd could get in position, they would just start to use the money, debt weapon vs the country and if that's not working either, they just bomb it. this is the usual practice.
this is how this system operates, pol droids are not meant to be making our lives better, max worse.
Unfortunately, we just need to vote for the people who actually do what the people want. I don't like either part but I'll vote blue because they are not trying to take away rights, cheat, or drive a religious agenda. The republican party has always been about taking away rights and helping 1% no matter what they say. The popular vote and will of the people is the only thin that should matter.
Well, just have to follow the money, not important we do it in the US or in Europe, it is the same:
Who are the biggest sponsors of both (all) parties? pretty much the same billionaires, big corps and except few, they finance both (all) sides. it's not important for them. How they can legally bribe the "leaders", pol droids showing what a joke everything. I mean, if you are a politicians, will you do what is best for your voters or what for you got money? (not to mention, if you don't do what for they bribed you, you can't even get there, into that position)
Rights: since Snowden, it's pretty much proven both sides big supporters of the "taking away rights" movements. it was proven, they use mass surveillance on their own population in each country - in mine, pol droids said it many times, it's fine, they can put under mass surveillance, taking away all rights for privacy, anybody in the country legally, simply because they changed laws - and anyway, secret courts can do it, what about we don't even know, how they really operate. but back to snowden, both obama and trump wanted to hang the guy, because he told, proven the anyway obvious.
and if these politicians come and go, what, who stays instead: (gov) companies like BR, and you know its ceo, he pretty much hates democracy (like all similar corp leader), even in this very basic form, what left from it. but he loves fascism and communism... and they can bribe, buy (even worse) anybody. "successfully" they can operate only in tyrannical systems for long term.
or we can see the covid-communism, show, too. hope you follow the worldwide started huge court cases, decisions and compensations for those who lost health, job, business. Both, hand in hand wiped out even more from middle class, and lower pushed in poverty a lot more. and what for? save big pharma from collapse, so money in pocket, and both did the same, nothing else cared them, definitely not rights or voters.
so, does it really matter who you vote for? or do you go for vote? NO!
BTC just doing the 3rd wave of a 3 or 5 wave correction. alts are different.
it's just more than funny you see solution and option in pol parties, when you just wrote, your income getting less + knowing they all got their money from the same places, people and inflation is great for all parties and their billionaire donors.
The 1% are milking the last bit of the system. Just look around the internet is collapsing with the introduction of generative Ai, people are running out of money and empathy. Late stage capitalism is here.
It is quite scary! We were just talking about it this morning. I had no idea it went so deep and the span of things they are looking to eliminate are absolutely scary! If this happens they would basically be giving a great big screw you to poor people, women, or anyone else that doesn't fit the white male mold. I have a feeling the funds are going to be loving all the dumping of BTC from the Mt. Gox people.
My wife has been telling me about project 2025 for a while now and we have mentioned it people in the past. However it was not taken seriously until SCOTUS started doing some bat shit crazy stuff. There is a real faction of people that are looking to turn this country into a christian fascist. A Hands Maid Tale has never felt so possible.
Yeah, it is kind of scary and I say that as a proud Christian.
silver is bouncing up this week
Yeah stocks just hit an all time high on Friday.
Well according to my assess concerning the crypto market, I will say one of the things that is happening is that the whales are actually holding things down
$9 billion worth of BTC will be coming to the market it makes sense to drive the market down to star a cascading spiral to pick it up at even cheaper prices.
Will there be a lot of BTC being released from Mt Gox? I don't know if there will be enough to have too large of an impact, but I guess there will be some.
As for the politics, I think both parties are bad. Having two old guys running for office doesn't really give me much faith at all in them. Especially when one does whatever he wants and the other has lost their brain.
$9 billion worth of BTC! I rather vote for a brain dead sack of taters than a dictator who is to dumb to see he is being used to take down America.
It went down only because of MT Gox and will go up again