This feels really bullish for BTC to me prepared for the central financial institutions/credit rating card firms to be strained in a collapse
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Comments (18)
How is this bullish lol. The average human isn’t buying bitcoin when they need their credit card to put food on the table
If credit card companies and banks collapse, bitcoin is the last thing people will be buying
That chart shows the financial wellbeing of the average American family, not the central banks or credit card companies. The average family has less money in savings and is using a credit card because the rising costs of living are so damn high. I know because I run the budget for my family; our savings has dried up and our credit card debt has mooned just like this chart shows. Higher expenses means less money to buy bitcoin.
So no, the average American having less money and more debt is not bullish for Bitcoin.
This chart is heavily flawed. Total credit card balances outstanding according to the bureaus just reached the prepandemic peak in early 2020.
The personal savings rate is only for rich people, who by the way are rich and drag the average savings rate way up.
Poor people have never been able to save and they live paycheck to paycheck. Their savings rate is zero. The median person in America has a very low savings to start. Yes inflation is pinching them. Real wages is the metric to watch as we move forward.
The Green Day’s next to a red wallstreet have been nice.
This is bearish for bitcoin. Hodling bitcoin is a form of saving. The savings rate shows people have no money left to save or invest.
I am tierd of being bullish
I should start being negative about it so I have no expectations.
Wen bull run ? Wen rich ?
If anything this is extremely bearish. It means people are out of their means and spending what they don’t have for stuff they need and in a high interest times on top of it. Is this a moment for those people in those lines who have depleted their savings and are putting on debt, to buy some bitcoin in your opinion? This is going to enlarge volume and buy pressure in btc? How?
Also how is it beneficial for btc if credit card companies fold? “Everybody will leave the fiat financial system and flock to btc”? I don’t think so.
Was not bitcoin like created for times like this? Financial disaster like 2008.. this is the real test of btc now for what i understand shit about fukk
I really don’t understand how in USA people can rely on debt to go on with life. It’s so stupid and not looking forward. Having in debt can only means that you are going to pay more for that item/service and also that probably you may not buy it.
The fact that regular people are turning into indentured servants… isn’t bullish for BTC, nor bearish… It’s just depressing, as those people are more worried about rent and food than some magic internet money.
Yeah, maybe until they turn on the money printer.
Who you think put so much money in this market? Ordinary people? You live in utopia if you think central banks not gonna control crypto if they decide to switch monetary system
You think people buy bitcoin with monopolys money?
Luckily I don’t have credit card debt, I just have a car in Default and 2 old phone bills I never will pay for lmfao
is the strategy, buying BTC on credit.
They won’t be “strained” as you say, they will get bailed out.