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The cryptocurrency pyramid scam bubble popping is not indicative of a recession.
by humaniania 4y ago
The cryptocurrency pyramid scam bubble popping is not indicative of a recession.
- exdsq 4y agoAre you suggesting we’re not entering a recession?
- doktorhladnjak 4y agoWe are probably already in one. Q1 GDP already shrank.
- arthurcolle 4y agoRecessions are definitionally 2 quarters of consecutive shrinking GDP growth so 1 quarter of shrink can not qualify as a recession
- solveit 4y agoOf course it is. Money flows.
- davidgerard 4y agoIt's the other way round. When NASDAQ sneezes, crypto catches a cold. I think because there's some tech investors who put a few percent into crypto, and when the market heads south you sell your frivolous rubbish (the crypto) first. And it takes very little actual-dollar volume to tank crypto Same thing happened in March 2020, when investors panicked over COVID-19 and flew to US treasuries. Stocks went down, crypto went through the floor.
- cableshaft 4y ago> Same thing happened in March 2020 I wish it were the same as March 2020. You had a big drop and then almost an immediate reversal that lead to an explosive bull run to many new all-time-highs until April 2021. Instead this time it's had the big drop and been very anemic for months since, with no clear end in sight. Could easily drop more. Starting to look more and more like the two year crypto winter back in 2014. Course if I was buying a coin a month that entire time it was $200 a coin I would have been retired by now. Or at least semi-retired.
- baq 4y agoponzi schemes only blow up when money dries up - and money drying up is a hallmark of economic slowdown. recession may be pushing it... for now.