So, Lets get this Right -
BINANCE ( the worlds Largest Crypto exchange by volume) faced and survived a Bank Run last month, with out a single flutter
Silicon Valley Bank faced a Bank Run and had to close under emergency procedures with in hours
And you telling me CRYPTO is a liability ?
Simple fact is this may cause "contagion" and the DXY will reflect that - IT was being propped up by FED interest rate rises but is that now enough ?
A repeat of the 2008 situation is a possibility but if you look at the charts, DXY was at the bottom of a long down channel, MACD & RSI were Oversold, when the situation opened in 2008 and the DXY has done nothing but climb, on average, since.
This time, DXY is HIGH , MACD & RSI are overbought. Markets know that recession is incoming but FED etc keep saying they have it under control.
But he banks ARE FRAGILE
And also we have countries arond the world dropping the $ for international trade, in favour of CRYPTO and local currencies
I am not saying this with Happiness but as something that needs to be considered. Tough days are coming and how people react will differ hugely.
For Me, I am staying in Crypto, and I will take the Wins and Losses as they come, knowing that Crypto HAS survived a Bank run - SVB did not
MONDAY coming is when it all starts, with either support for banking or not
Good luck a nd stay safe
BINANCE ( the worlds Largest Crypto exchange by volume) faced and survived a Bank Run last month, with out a single flutter
Silicon Valley Bank faced a Bank Run and had to close under emergency procedures with in hours
And you telling me CRYPTO is a liability ?
Simple fact is this may cause "contagion" and the DXY will reflect that - IT was being propped up by FED interest rate rises but is that now enough ?
A repeat of the 2008 situation is a possibility but if you look at the charts, DXY was at the bottom of a long down channel, MACD & RSI were Oversold, when the situation opened in 2008 and the DXY has done nothing but climb, on average, since.
This time, DXY is HIGH , MACD & RSI are overbought. Markets know that recession is incoming but FED etc keep saying they have it under control.
But he banks ARE FRAGILE
And also we have countries arond the world dropping the $ for international trade, in favour of CRYPTO and local currencies
I am not saying this with Happiness but as something that needs to be considered. Tough days are coming and how people react will differ hugely.
For Me, I am staying in Crypto, and I will take the Wins and Losses as they come, knowing that Crypto HAS survived a Bank run - SVB did not
MONDAY coming is when it all starts, with either support for banking or not
Good luck a nd stay safe