Are The Bitcoin-Linked/Following Cryptocurrencies Going to Recover Soon?

That seems to be the wise choice. There's no use stressing over the day-to-day, week-to-week or month-to-month fluctuations. It's a long game.

@pbashton Exactly as long as it doesn't go 50% lower than now. I leave it like a savings.

You could be right, unfortunately (as least as far as the long-term view goes). In the short term, though, I suspect it's going to move sideways for at least a couple of weeks. None of us knows what the future holds, though (and looking at past activity/trends doesn't give an accurate insight into the future, but it can be interesting to speculate).

@pbashton I hope those who invested in it won't incur losses

@mildredtabitha If we're looking at it in terms of fiat (as I was when I started this discussion), I personally have (because I converted some to fiat to pay my bills and loans). If we're looking at it in terms of crypto, then no (because 1 BTC = 1 BTC, always).

@pbashton I would think if people were uncertain about the future, they would be more likely to buy Crypto.

@snowy22315 I would think so too, considering that's what happened to a large extent when the first and subsequent waves of COVID-19 hit. However, the crypto community is still tiny (hundreds of thousands to a few million) compared to the global population (several billion). Some of the problem is that there are parts of the world where people don't have Internet access. Most of it, however, is that there are still dinosaurs who believe the FUD they've been fed by banksters and government officials (who are against it because they obviously stand to lose their stranglehold of control and power), instead of bothering to investigate for themselves (see further up this thread). DYOR, you know? Reading (and comprehending it) is obviously very hard for some.

From what I can tell, it seems to be related to the tension and uncertainty with regards to the Russia/Ukraine situation (which I haven't been following too closely) and various mutterings from the Federal Reserve Bank (and possibly other parties) in the USA about inflation and quantitative tightening. Folks are scared and uncertain about what the future holds, so the stock market and other long-term investments (including crypto) have taken a tumble. There's a whole lot of writing about it on Publish0x and Leo Finance. I haven't read much of it in depth, seeing as I'm not involved in Finance and a lot of it's just buzzwords and mumbo jumbo I don't understand.

@pbashton yeah and also fiat money loses value over time due to inflation unlike crypto currency which has a maximum amount for example there can only be 21 million Bitcoin in existence. Most people don't really know how to save and invest in general not just in crypto.

To me, that seems very much a good strategy to have (and one I'm using). IDK why people are still happy to put their fiat into interest/retirement funds that have interest rates of ~12% over ten to thirty years; it doesn't make sense.

@rodnac Yeah, certainly not. I'm not particularly savvy there. (I tend to hoard for years and then blow it on something like a new computer, which isn't the smartest thing to do.)

What a load of bullshit. It's dinosaurs like you who're going to disappear when fiat does, hit by the crypto commets. "Its value only exists in the imagination of its investors." You can't honestly expect me to believe that the same isn't true of fiat. Maybe it had some intrinsic value when it was backed by gold (which I doubt), but we moved past that long ago. Now, a lot of us only have any interaction with money through digital/online means (EFTs, etc.) Crypto is the logical progression of that, removing the banksters and other unnecessary middlemen causing impediments and bottlenecks in the pipeline/process. https://www.fidelitydigitalassets.com/articles/addressing-bitcoin-criticisms

@DWDavis Not true. Cryptocurrencies are backed by secure, cryprtographic algorithms that can't be tampered with by centralised, fallible human agents.

@pbashton You might be right, as long as it doesn't drop in price to much I will be okay with that.

I'm hoping so too, but I suspect it's going to move sideways until such time as the Fed and Gerome Powell (?) make definitive statements of intent or Russia takes action against the Ukraine (or declines to do so).

That's ultimately the only thing that we can do, really. Maybe it's just my cynicism showing, but I read reports about the markets by FinTech types and can't help thinking, "despite all your fancy lingo and jargon, you don't actually know what the future holds, Nostril Dumb?ss; nobody does".

@pbashton

Don't know much about history. Don't know much biology. Don't know much about science book. Don't know much about the French I took. But I do know that I love CRO And I know that if you love CRO too What a wonderful world this would be.

Well, it's never too late to learn. PDF Drive (pdfdrive.com) has a plenty of books on Bitcoin and Cryptocurrencies. These are the ones I recommend: + Bitcoin for Dummies + Bitcoin for the Befuddled + Crypto Uncovered: the evolution of Bitcoin and the cryptocurrency marketplace