[Stock market] The stock market is behaving like a shitcoin.
Discussion
With the recent disastrous decline in prices of Hive . We can see that people with "diamond hands" leaving the market but what's interesting is this selloff is not due to any fundamental change in Bitcoin or Hive.
For eg :- Today , hive's price declined 15% to $0.48 again but there's difference in me or the blockchain. The witness nodes are working on blocks just like yesterday . People are upvoting, posting , having fun. All of that. As a matter of fact some layer 2 communities like LeoFinance are seeing improved engagement growth.
So why ..? Why so red ?
To answer this look at today's stock market.
It is the mighty NASDAQ 100 index consisting of 100 top tech companies my market share trading in USA dropping casually in 2-3 hours of trading by more than 3.50% or $475 .
That is pretty significant decline for an index of big companies. Imagine shitty ones. The thing which amazes me is that whole market is just outright panicking and selling everything to hold cash. CASH IS KING as they say on wall street. If you looked at the price action of NASDAQ for the pas month you'll see $1000 swings back and forth meaning an index is swinging to 3% and -3% in single day. Shitcoins trade with better price action tbh.
But wait.
Look this big thing ..
You could say this is the benchmark index which measures the whole stock market S&P500 which declined more than 3.4% while writing this post. I expect more red until and unless there is no stability around inflation fears.
Inflation, supply chain disruptions, war and finally federal reserve looking to tighten the economy will take us into a deeper nosedive where people with absolute courage will survive.
My position
Personally, I won't be putting in more money in any of the markets be it for investing or trading just because of no relief in sight. CASH is KING for me indeed. People who are blindly putting in money thinking they caught the dip only to see the price decline more 30% in 2 days are weird to me. Don't treat money as you would in a casino. Hold cash for a while if you need.
But .. but.. Inflation.
Yes I get it. Holding cash will only result in you loosing value to inflation but loosing 8% annually is better than YOLOing into buying dip and loosing 40% + inflation . I am telling you to hold cash forever just don't but falling knives everyday thinking one of these days could be a dip.
Peace out.
5 years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem
With stocks and crypto, the saying is to "invest" what you can afford to lose. Either that or if you can hold for 10 years and still be happy to have made a small positive on that. I gave up pouring money into crypto and stocks when everything goes up or when everything is down because I feel that more equilibrium is needed.
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The only caveat is that volatility is what helps generate profit. Stablecoins have equilibrium. Yet, we don't expect stablecoins to moon anytime soon.
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I feel you . People have turned crypto into a investing casino as well.
It's not worth piling in as prices drop. You're right that trying to time the bottom is like catching falling knives.
But, I think if you have been dollar cost averaging, it's safe to continue with that.
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It is true . I am just against YOLO'ing your life savings for a coin to moon so you can buy lambo. Kid you not a lot of people are doing that. A number suicides have even happened since this crypto market decline.
Unpopular opinion: Stocks are shitcoins.
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I agree to that
The stock market has been a shitcoin for a long time, a big portion I think its like 20% are zombie companies, most of them are way overpriced for the value they create as they become a proxy for savings accounts because people can't save in a fiat system
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Overvaluation , buying frenzy for absolute no reason have made stocks no different than shitcoins yet it is legal while Cryptos are still illegal in many countries due to risky speculations lol.
Yes but you have to remember that stocks are securities, so they have fiduciary responsibilities, there are legal requirements to be listed as a stock and liquidity requirements. Shitcoins CHOSE not to do it, they could, there are STOs already doing that, you can look at the BMN on stokr, its a regulated security issued on the liquid network.
Shitcoins purposefully don't take these routes because they want to play in this grey area free of regulation for the time being so they can scam people out of their money with vapourwear
True that.
The market charts of both stocks and crypto are quite a mess to see. And I think most are just watching trying to decide what to do next. We don't know for sure when the fall stops.
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True. Sitting on the fence is more better for me.
I am doing the same :) Although I still swap HBD with HIVE daily :)
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