A lot of people buying rn aren’t planning on selling for years. It’s a protective hedge against the inevitable /devaluation collapse of USD, and a place to park “money” that’s safer than paper.
I think you chose wisely. The market isn't dropping just because of Trump tweets. That's just a catalyst. There are a lot of bearish macros in play.
Banking reserves are the lowest they've been in a while. USD liquidity is far more scarce than most people realize. This market probably should have started a pullback in mid Aug.
1 trillion USD of GPUs have been eliminated within seconds for cooking oil. Just close this market and dont open this shit again, throw away the key, fuuuuck this.
I thought people buy gold when they anticipate rate cuts. Gold and USD are inversely related over the long term. The thing is the fed is taking longer to cut rates, and so big fish have been buying up more gold in the meanwhile, driving prices higher.
It’s different than oil. Oil has tanked, due to lower demand. Even though both oil and gold are commodities, no one is buying oil because they can’t store it like they can gold.