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This isn't a thread about discussing cryptos in general context, rather through the eyes of a gamer, who wants to buy a new GPU this year (before the Q4 update).
As most of you have probably read, signs point to accelerating inflation, which in turn sinks US treasury bonds and may prompt central banks to raise interest rates. If this becomes a thing in the US, the rest of the world will follow suit. Now there were opinions that Bitcoin and co. may replace gold (for the record, I never believed it) as safe haven - if it were the case, we couldn't count on a good old stock market bust to deflate prices and slam the brakes on the crypto mining industry.
Fortunately (for us) it appears that the complete opposite is true. Crpytos are sinking faster than the rest of the market, which means hot, leveraged capital is quickly flowing out. The worse the stock market bust will be, the deeper cryptos will sink it seems.
If the momentum builds, we could see swift normalization of the GPU market - though with the side effect, that a serious downturn may affect many of us. We can't have the cake and eat it...
As most of you have probably read, signs point to accelerating inflation, which in turn sinks US treasury bonds and may prompt central banks to raise interest rates. If this becomes a thing in the US, the rest of the world will follow suit. Now there were opinions that Bitcoin and co. may replace gold (for the record, I never believed it) as safe haven - if it were the case, we couldn't count on a good old stock market bust to deflate prices and slam the brakes on the crypto mining industry.
Fortunately (for us) it appears that the complete opposite is true. Crpytos are sinking faster than the rest of the market, which means hot, leveraged capital is quickly flowing out. The worse the stock market bust will be, the deeper cryptos will sink it seems.
If the momentum builds, we could see swift normalization of the GPU market - though with the side effect, that a serious downturn may affect many of us. We can't have the cake and eat it...