My thoughts on 'The Great Crypto Crash of 2018'
The Financial Post and other main stream media (MSM) outlets are really hammering the idea that the cryptocurrencies crashed this summer. Here is what the Financial Post said today about it:
“It just shows what a massive, speculative bubble the whole crypto thing was — as many of us at the time warned,” said Neil Wilson, chief market analyst in London for Markets.com, a foreign-exchange trading platform. “It’s a very likely a winner takes all market — Bitcoin currently most likely.”
Want to know what I think? Obviously you do or you would not be reading this article. The banking cartel cannot let cryptocurrencies take over. These currencies are under attack by the old money because they threaten their empires, control and wealth. I think that a lot of money was pumped into the cryptos so that they can all be crashed at some point. We are witnessing the crash.
The intent is to scare people out of the cryptos so that they go running back to the commodities and currencies that the banksters control. They are scrambling to create their own cryptos to catch up so that they can offer a stable, safe and secure alternative. However, it is still their crypto and they will control it just like they control their fiat currencies.
If anybody did any studying of history, you will find that those with money can manipulate and control nearly any commodity or market. They built the system and they know how it works. They don't care about the money, they want control. So they are willing to sacrifice billions or even trillions if necessary to maintain that control.
Here is where I think they are afraid. They cannot control the cryptos. They can manipulate the prices but remember: THOSE PRICES ARE COMPARED TO THE US DOLLAR, WHICH IS THEIR CURRENCY.
The moment that we decide to detach our cryptocurrencies from the fiat currencies and start trading with one another directly without their fake money, then their currencies will die a horrible death. They are absolutely terrified that we will no longer require 'their' money. Their money is dropping in value constantly through inflation. Prices don't actually go up, but rather the purchasing power of their dollar continually drops. I wrote a post about money 10 months ago which explains what I'm talking about here.
https://steemit.com/ungrip/@wwf/what-is-money
In that post I demonstrate that if we purchase goods with other goods, we will notice the natural ups and downs of purchasing power as the volume of goods fluctuate from year to year. But when we compare the purchasing of those goods with 'their' money, the price of those goods always goes up.
What we see here is a real effort by the banking cartels to try and scare people out of the crypto market. I'm not leaving and they will have to attack the blockchain to destroy this crypto. Don't fall for their fear tactics. These are dangerous, scared and angry people attacking that which threatens their empires. The power is in our hands and the sooner we realize that Steem and the other cryptos means freedom, the sooner the prices will skyrocket and their currencies will fail. The value is in what WE place on the currency, NOT what the goons at Wall Street think it is.
Let them take their best shot. They will only create an even more powerful adversary for them to try and attack ... a people who have woken up to their manipulations and no longer fall for their fear tactics. The power rests in what I do with my crypto, same goes with all of you.
I see a huge market crash coming and when that happens people will flood to the alternatives; gold, silver, commodities and cryptos! I'm holding and getting ready for the crash. I feel it will arrive and when it does it will mean chaos and pain for a lot of people. At that point it is our duty to help those people and we will need resources to help them all. Cryptos could easily provide those resources to ensure the flow of energy around the world continues as the people demand.
When that happens, we will foil their One World Government, One World Religion and One World Currency plans. They will do everything in their power to stop us and they will fail.
What you say makes sense and I actually hope that it will happen. I believed in it for a long time, but along the way I lost a bit of my faith.
The banksters can do whatever they want and they do it for years. They get away with everything, no matter what they do.
They manipulated oil, gold and silver and now they manipulate the cryptocurrencies also. They will continue to do so. They manipulate it down so they can accumulate. They manipulate it up so they can sell. They will not stop doing that.
When we decide to not use fiat and use cryptos instead, we will discover that we might use it to buy a house or a car, but we cannot use it to buy the really important stuff like food and gasoline. The stores will simply not accept it. They might in the future, but when or if that will actually happen is the question.
In the meantime I keep accumulating cryptos at Euro cost average and keep hoping you guys are right about the future.
I want to believe!
Grow your own food too. In reality, the crypto should be used as a medium of exchange between people, not as a storage of wealth, investment or anything like that. All that we 'need' is provided to us free from the earth. All that is left is to do some work to add value to it. Corporations have completely taken over that process. We need to take it back.
I think that is a fairly accurate assessment. Nathan Rothschild singlehandedly crashed a currency after the battle of waterloo only to buy it all back at pennies to the dollar. It is a game of control and crypto is the wildcard that is out of their control. Nice article!
I fear you are right about the market manipulation. IMO it has to be one entity that has been controlling the crypto market because of the pattern that it has dropped to is exact. There was no deviation from the downward triangle at all! When it hit the top linr it crashed right down to the bottom line and back up again. We are at the tip of the triangle now though so it will be interesting to see what happens. They will either have to buy in again or leave it to its organic pattern. I dont think as many people have abandoned crypto as they hoped! I just hope we stay strong and don't crumble under the pressure
Not so easy for people to go into and out of steem when people are vested in it and it takes 13 weeks to unvest in the platform. Not like any other investment because steem is not an investment. It is much more than that. The powers that be don't comprehend. They try old methods on new ideas. They will fail.
I would have to agree. It is the banksters that are running scared and don't want to lose their sacred cash cow. The whole system has been on reset for a while. We haven't seen the end of changes. This is only the beginning. It will not be pretty for those caught unprepared. I am glad I got into crypto when I did.
Steem is down in the dust, but I am sticking around since the roots must go down down deep before they branches soar to the moon. A little faith, perhaps. Plus this platform is just great!
I think you're right when you talked about removing the fiat valuation of the cryptos. Once people start trading crypto for actual things more often, then we'll see banksters lose even more power. Someone posted on Steemit about selling their car for Steem. Another person posted about how they bought someone lunch in exchange for a Steem Monster. Those types of things will help demonstrate the value of the crypto aside from fiat. If you don't need "dollars" to buy things, why would you care about many dollars it costs?
@wwf Excellent. In this crypto crash something is not adding up. Like some coins which has good use case scenario like Etherium or Steem has also fallen. In a fb page I saw a post that a renowned person claimed he has never invested in 'Steem'. According for a layman like me Steem is the best coin. If I have money I would have invested a good portion in Steem. Because I saw the utility of Steem in this platform. So if a person is quitting they might have jumped into this wagon thinking they will be rich overnight without understanding real potential of Crypto. As you so truly pointed out there will be a time when crypto will be in stronger hands and further manipulation is not possible. Thank u
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Man I've always known it was the banks that were responsible for crypto crashing. A whole heap fake news perpetuated bye people who don't want to lose their power. It's so frustrating. Every single person I speak to about crypto offline only repeat back at me the bad news they have read on Facebook or in the big media chains. It's this lack of understanding and willingness to be deceived or to take mainstream media as Gospel that blessings faith in crypto. I do wish everyone would not allow themselves to be so brainwashed.
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Great pep talk and rallying the people! I agree with all of your points. Especially about us having the power to trade without a fiat comparison point. The crash is coming.. but when is the question. It could be weeks, months, years, decades. You are right we need to be prepared regardless of the timeframe and not complacent. Gratitude for steemit to connect us all, gratitude for cryptos to give us tools to help us realize our freedom and power that we hold.
I too think your assessment is correct. At one time I thought Crypto prices could not be rigged. Look at what they have done to Silver 😟