Gold is following bitcoin, it's down with almost 2% ?

[maxmoney]

Looks like the financial markets are fucked, very fucked.

I checked Gold it is following the trend of Bitcoin, down down down

 

[JohnnyDoe]

I thought gold is the safe haven for every situation, insurance against all sort of troubles etc.

 

[369]

oh men facepalm........
all markets are currently following a schematic of wyckoff going to their previous major resistance/support level.
At gold its arround 1840 and in btc arround 29k
Gold is a safe heaven just because paper gold goes down it doesnt mean you can get it in any significant amount for that price.

why are all markets going down ?Because they are getting deleveraged before their next major run.

 

[Golden Fleece]

I thought gold is the safe haven for every situation, insurance against all sort of troubles etc.

You are correct. You have once again blindly stumbled into the truth. Gold is a safe haven during tough times. In terms of wealth preservation, gold now makes Bitcoin look like garbage.

• US Gov't Bonds: -11.2%
• US Corporate Bonds: -13.9%
• S&P 500: -16.8%
• NASDAQ: -26.6%
• Bitcoin: -34.1%

Gold now up +3.1%, despite still being far from the record high it hit in March.

 

[bountymounty]

Gold didn't crashed as much as BTC and the Stock market.

 

[JohnnyDoe]

The annual sigma value of the top 30 cryptos (less the stables) is 2.54. This means that a 10% move in the crypto market equals to a 4% move in the stock market.

 

[Golden Fleece]

The annual sigma value of the top 30 cryptos (less the stables) is 2.54. This means that a 10% move in the crypto market equals to a 4% move in the stock market.

Yes, such implied volatility is exactly why Bitcoin is a failure at its original goal: an alternate currency.

Relative stability is a major factor for any real form of money. That is why Bitcoin is not money or an investment, only a speculation.

 

[369]

bitcoin is an approved ponzi nothing more.It will have its final rise to fool people put in their fiat and they will get milked by institutions like always.
Have a nice look at luna how they milked them.
Can happen to any other coin at any time.
So much about security of your wealth.

 

[JohnnyDoe]

bitcoin is an approved ponzi nothing more.It will have its final rise to fool people put in their fiat and they will get milked by institutions like always.
Have a nice look at luna how they milked them.
Can happen to any other coin at any time.
So much about security of your wealth.

I see another strong buy signal here

Quick snapshot of a few stocks:

 

[369]

you forgat NKLA

shilled companies who have been added to market by a bank who was responsible for distribution.
Works always the same.Mass shilling on news websites ,spiking prices to gets people attention and their greed activated and then sell off.
Stocks fully distributed and money made.
NKLA from $2 to $90 and back down to $6

 

[JohnnyDoe]

you forgat NKLA

shilled companies who have been added to market by a bank who was responsible for distribution.
Works always the same.Mass shilling on news websites ,spiking prices to gets people attention and their greed activated and then sell off.
Stocks fully distributed and money made.
NKLA from $2 to $90 and back down to $6

I probably forgot plenty of companies. I just wanted to remind everyone that cryptos are not the only investment that can go down in value.

 

[Golden Fleece]

I probably forgot plenty of companies. I just wanted to remind everyone that cryptos are not the only investment that can go down in value.

I am pretty sure that post #4 covered that issue rather thoroughly, including the exact percentage of declines for each asset class.

 

[blizz]

hope things will get better soon.

 

[Golden Fleece]

Guys, the more I see Bitcoin ponzi quotes the more bullish I become. The very fact that you are in this website participating in these forums is a testimony to the attractiveness and future value of BTC long term. Banned in China, and severely hampered in Europe and the US, it has proven its ability to survive attempts to quash it. If you believe in the power of the individual over centralized government control, then you believe in the credo of Bitcoin. Ultimately, it is the only asset class that will preserve its value over time, Even more so that Gold. Just wait until they start mining asteroids in 10 to 15 years.Is it a stable currency? Hell no. For that use USDC. Stay away from the other supposed stablecoins, especially those based on algorthimic stability. (Easy to say after the Luna dump. But I was saying it earlier too.) Also avoid USDT. A few other cryptos make great currency: SOL, AVAX, CARDANO, etc, but I would not hold them for the long term unless you treat them as you would treat a high growth company.

Just like any other asset, it depends on when you buy it and when you sell it. Right now, the biggest collapse among major asset classes is in Bitcoin and the other cryptocurrencies. The price of Bitcoin has fallen over 55% since last November, when Bitcoin peaked at around $69,000.

Now, 40% of all Bitcoin investors are underwater on their holdings. If the trend continues, many of those buyers will eventually capitulate. Speculators can only take so much pain. So much for Bitcoin being the new inflation hedge -- or "the only asset that will preserve its value over time."

And the damage is not limited to Bitcoin. Huge losses have occureed in other popular crypto currencies such as Ethereum (down 57% over the same period), Ripple, Solana, and others.

Still, none of those crypto collapses was the most spectacular. Luna fell from $116.84 on April 5th to $0.0062 on May 16th, an astounding 99.9% crash in less than six weeks. That’s not just a crash, it is a complete wipe-out. It just shows you how crazy speculative manias can become, completely unhinged from all reality.

 

[uplana]

Gold has been pretty stable during the last few months where everything else has been volatile!