LogFAQs > #944162826

Austin_Era_II posted...

I don't think it'll replace the fiat currency especially for the black market as that helps with the cycle of capitalism.

I myself got caught in the crypto craze, so I have a bit of money in a "portfolio" left. Here's the price graph of the last week:



The local high here is about $215 two days ago. Looks like the stock drop today is crashing crypto prices. What do stock prices have to do with crypto? Nothing, really. In theory, though, investing in crypto should be like investing in gold (or so the argument goes), but usually crypto prices trend with stock prices.

Now here's the last year where, IIRC, I did not touch this at all:


The beginning is $171, and that deep low is $87, coinciding with the pandemic crash. Now, for traders, they could make a lot of money off of this crazy price fluctuations. But as an "investor", there is no reason to believe these will have any value unless they are one day a commonly accepted for of currency. But the real bulk of people in the "market" are trying to buy low and sell high as much as possible, which is part of why these price swings even happen.

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