[Daily Discussion] – Monday, November 07, 2022

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[Daily Discussion] - Monday, November 07, 2022

8 thoughts on “[Daily Discussion] – Monday, November 07, 2022”

  1. Congrats to the ones holding to these threads through the doom and gloom. For my part I’ll be back to permabull troll posting when euphoria hits again. Happy crypto winter.

  2. looks like my prediction is turning out as expected. can still be wrong, we’ll see in the long run

  3. Turns out the two biggest whales feuding isn’t good for prices. Who would have thought

  4. I work in tech and the sheer panic happening in the industry right now is depressing and the events soon to follow will be devastating. Imminent layoffs across the country. Elite engineers at even FAANG are about to be let go: those with high paying jobs who have taken on higher debt obligations because they thought this gravy train would never end — foreclosures galore by end of next year.

    I’m in group chats where the panic is turning into anger and they’re looking for someone to blame. This is going to be historic: fellow engineers are now recognizing the mistakes central banks made to bail out failed corporations by buying their junk securities, flooding the economy with PPP loans, Biden’s spending, and of course all at zero rates. Now the middle class is left with the bill, with no jobs, and their yuppie “elite” lifestyle will soon be no more.

    These are upper middle class people who put their trust and faith (banking their retirement) into the system, the same individuals who wouldn’t ever touch financial instruments outside of TradFi, only to have it taken away in a span of months. The resulting devastation, anger, and resentment towards the government and central banks will manifest into a financial rebellion/renaissance and I hope Bitcoin will be the primary proxy for this revolution. If you haven’t read it already, I suggest reading one of the most interesting theories for why highly intelligent people don’t buy the corn and now we are at the cusp of that changing. Godspeed.

  5. It looks to me like this downward move is bottoming out.

    It stopped right around EMA8, which Bitcoin often seems to respect as support or resistance.

    My plan is to see if we wick down and then go long from there. When the market has already moved down this much, that’s a good time for a long.

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