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Monteluna
@monteluna
For people around 2018 crash and the covid crash, this absolutely feels slow, but not bad. My only worry is this is starting to feel like 2008 in the real economy, and I'm not sure crypto fares well in that environment.
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John
@silentjohn
Feels more like the 2018 trade war drop to me. Things never really felt all that great (aside from ath stock market) leading up to now. Contrast to 2008, where everybody and their mother was flipping houses and making money left and right. Things seem way more bleak than pre-2008. 🤷♀️
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maxAPY - DeFi on autopilot
@maxapy
it does feel like 2009 recession is coming, and it is scary we've never experienced crypto during a time like that😬
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Njal
@cryptonjal
I totally agree that the economy is like 2008, probably because I'm interested in cycles like the real estate cycles. At this moment the USCCI (US consumer Confidence index) broke out bearish from an uptrend, and average working hours is in a downtrend since '21. Basically, it's waiting when unemployment rises seriously, and personal income will drop. Expected economic growth expectation (US10Y-(US10Y-US03Y)-T10YIE) is trying to break the 20 WMA. Rising growth expectation is good for crypto 🤞🏼 But, that's short term relieve of course. I think a lot of people are going to be surprised when they see no fomo and no altseason (although I do believe there is a relative altseason and it's almost over). Monthly BTCUSD chart looks far from good, and a deflationary scenario (expected lowering inflation, and expected economic growth down) is the worst scenario for high beta assets like crypto. Based on historic bear market drops, 30-32k would be my first guess.
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