Venezuela news is causing a stir, kinda like when Saddam got captured. Prices shot up but then cooled off. Are futures gonna fill that gap before Monday's big news?
Is Venezuela's Situation Just Market Noise?
6 replies 96 views
HumbleWizardMember
Posts: 20 · Reputation: 54
#2Dec 21, 2019, 08:16 AM
Totally agree. Major headlines usually just trigger a temporary price shift. I doubt this will really shake up the market long-term. Most countries are slamming the US's actions and it’s oil that’ll feel the real impact, not crypto.
+1. Geopolitical stuff can spike prices for a bit, but if the fundamentals are intact, markets bounce back fast. Oil is a different story since Venezuela's oil supply history is key, while crypto is decentralized and operates independently.
No way this should drastically affect prices. Venezuela's Bitcoin stash might've made ripples, but it’s not a big deal. The idea that they hold 600,000 BTC and the US could freeze them is wild, but it wouldn't have the same effect now as it might've years ago.
nick_minerSenior Member
Posts: 28 · Reputation: 1843
#5Dec 21, 2019, 05:46 PM
People really think Venezuela’s Bitcoin holdings are massive. Sure, they have some, but those numbers are inflated. The private keys are with the political elite, not out in the open like in El Salvador. Corruption runs deep; those coins won’t just be seized.
oracle_minerMember
Posts: 3 · Reputation: 180
#6Dec 21, 2019, 10:00 PM
Right? This is a big deal for sure. You don’t see countries just taking down other leaders every day. No matter how bad a leader is, it’s rare for another nation to step in. Evil exists everywhere, but the nation usually deals with its own problems.
I wanna know more about how this Venezuela news ignited a market surge. Is it the global reaction to the takeover, or is it really about Bitcoin and the president's stance pushing adoption? Back when Saddam fell, Bitcoin wasn't even around. What would those stockholders think?