Quote:
Originally Posted by crucifissio
in the last 2 months most crypto action has been due to artificial pumps and dumps creating action...when bitcoin is left alone it just ranges to the side with no significant action or interest whatsoever...
the cart below is typical and changes like this happen once per week just to keep the action artificially going...5min candles:
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the little hype you can see at the moment is a result of the decrease of chinaīs yuan.
it is a short term effect because all of them will invest in dollars and euros with the next interest increase.
as bitcoins does not have an own value but is always compared to currencies it seems for some people to be a "secure harbor" - but is isnīt as long as you can not say that a bottle of milk will cost X bitcoins. instead of that the bottle of milk will have a price in dollar or euro or whatever.
no normal investor will putt his money into stocks at the moment. what the dow still keeps alive are the billions what went back from offshore and companies do buy their own shares with it.
so in a healthy economy the dow should go above the clouds - what is not the case even with all this billions.
I am pretty sure that the DOW will be within the next 3 months around 20.000 and falling and this is the reason why people trying alternatives until the basic interest is high enough to make money without risk. then all this money will go back in traditional interest papers but not in shares and not in bitcoins.
world economy crisis is on its way and comes in 5...4...3...