Crypto crash in 2028

[Bluestocking]

The current administration is propping up crypto so any gains may not be sustainable. In 2028 when the Democratic administration takes control they will not prop it up and it will probably crash and burn.

If it doesn’t happen before that.

[Irish_Dem]

1. The scammers will get their money out before it crashes?

[gab13by13]

4. I'm not so sure it's going to crash.

A lot of "impotent" people are behind crypto. That secret JD Vance meeting in Montana was all about crypto, the crypto capital of the world, so they say.

It was Montana wasn't it?

[Irish_Dem]

8. Yes if it is a great scam they won't let go of it easily.

Yes Montana makes sense.

[gab13by13]

2. My daughter is sharp as a tack in investing in the market

she is looking at crypto.

Why do you think there has been a huge campaign to lower interest rates? Krasnov wants to weaken the dollar and strengthen crypto.

If the Fed does cut rates in September that means that crypto will be strengthened.

[EYESORE 9001]

7. The fed may lower interest rates in September anyway

Probably be feeling some real effects indicating onset of recession (if we’re lucky, that is) by then.For all we know, there could be a global financial crisis/meltdown/collapse along with euphemisms I haven’t even considered yet.

[edhopper]

9. Did she also invest

in NFTs?

[gab13by13]

11. She didn't invest in any of that, I don't think. I don't know what it is.

I just said she was looking at crypto.

[edhopper]

12. I was just kidding

crypto is highly speculative and can bring big gains and bigger losses.

[Celerity]

3. Kamala Harris Plans to Boost AI and Crypto Sectors If She Wins

https://finance.yahoo.com/news/kamala-harris-plans-boost-ai-160039789.html

Incumbent Vice President and Democratic nominee Kamala Harris has positioned herself as a cryptocurrency and artificial intelligence supporter, a move debated to draw in younger pro-crypto voters.

This is in stark opposition to President Biden's approach, which involved signing an executive order to set 30 new federal regulation standards for AI last year.

"We will partner together to invest in America's competitiveness, to invest in America's future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors," Harris said during a fundraiser at Cipriani Wall Street.

Notably, this might be one of the few areas where the Democratic and Republican nominees see eye to eye. Former President Donald Trump – a long-standing advocate for the cryptocurrency sector – has previously announced his plans to fire the current SEC Chair, Gary Gensler, if he wins.

snip

[yardwork]

15. This is from 2024.

AFAIK Harris isn't running for anything now.

[Celerity]

20. Of course, but it shows the OP's assumption that a Dem POTUS will be automatically anti-crypto is not a sure thing.

[yardwork]

21. Oh gotcha. I wasn't sure what you meant.

I think that crypto or something like it is coming, one way or the other.

I'm old enough to remember old folks complaining that everything went to hell when the U.S. dropped the gold standard.

[SSJVegeta]

5. Anybody who thinks any crypto gains are sustainable at any time knows nothing about crypto

[Happy Hoosier]

6. I have ZERO money in crypto.

I don't see a reason to change that allocation.

[edhopper]

10. You may be right

but I have long past believing the global investors are rational.

[gab13by13]

13. People don't want to think outside the box,

it's too scary.

The idea that the dollar will never be replaced as the world's currency is something that has always been set in stone, now, people are having questions.

Our GDP always covered our debt, now it doesn't. Keep an eye on the bond market, the world may be having doubts about investing in us.

[edhopper]

14. Sure

and the Euro would make sense as a replacement. Not multiple currencies with no government backing that can rise and fall on a whim.

[gab13by13]

17. I see the BRIC countries are pushing for a basket currency to replace the dollar.

[edhopper]

18. Of course they are

but outside of China, they don't have the economic clout.

[yardwork]

16. I don't know.

I have no money in crypto and don't know much about it.

I do notice that nobody carries cash anymore, and many merchants won't even accept cash.

This past year I traveled overseas for the first time since before COVID. I never exchanged any money. Everything is paid by credit card now, with the hourly exchange rate built in. There are online banks and apps now that let you instantly convert dollars to Euros to pesos to yen to whatever.

We're transitioning into a digital age and it makes sense that currency is changing too.

Of course there will be scams. There will be those who hit it rich, too. I can't tell how to predict which will be which, but I'm sure it's coming.

[edhopper]

19. Actually

I see more and more people using cash as so many outlets are now charging 3% to 4% to use a credit card.

I use currency in Europe more than a credit card.

[Celerity]

22. I live in the EU and travel extensively in it and I do not see a resurgence of cash use at all. I see the opposite,

especially in the core EU nations.

[yardwork]

24. That was my experience in France and Spain this summer.

Are you familiar with the Revolut app?

[Celerity]

25. Yes, but we do not use it. We use Swish a lot.

[edhopper]

27. I was combining two different things

charging for credit cards is something happening in the States.

I was also saying I have no problems with cash in Europe.

[yardwork]

23. I probably should have said debit card, not credit card.

All the younger people I know use cash apps on their phones. No merchant charges.

[edhopper]

28. They also don't talk to each other

and just text.

Young people, hurruf!

[fujiyamasan]

26. If dems take back congress in 2026 we may see a pullback

But it will likely be short lived. I think the main crypto currencies (like BTC, ETH, etc) will be fine. Sure, the major crypto CEOs likely won’t be hanging out at the WH, but various private sector institutions and investors will continue making money off of it.

Crypto lobbying money has made its money to dems as well.

[Norrrm]

29. The big money return in crypto is:::

The big money return in crypto is:::
1. Starting it, hyping it, selling it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
-------------------------------------------
A few have profited by 'investing' but not the majority.

Bitcoin is one of the very, very few that has made profit.
And that is only because people WANT to believe in it.
Even bitcoin has no real assets backing it.

BC is used as a fantastic example of crypto but it is a lucky outlier.

Hundreds of others have flopped.
Should the US Gov't invest in/purchase massive amounts of crypto with taxpayer 'real' money?
Every legislator approving this should be made to invest half their family's life savings in the very same crypto to show their confidence in it.

BTW... You're buying it with your 'real' money.
Will they let you buy it with your other old broken crypto?