Scared about Bitcoin crashing? See this...

empirestate · #45 02-05-2018

Please BTC go back down to 1k...
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slokor · #46 02-05-2018

Quote:

Originally Posted by empirestate

Please BTC go back down to 1k...

Do you ever have anything useful to contribute? or are you just working on your post count?

rsot · #47 02-05-2018

Quote:

Originally Posted by slokor

Do you ever have anything useful to contribute? or are you just working on your post count?

empirestate is like the monkey on the back

nate · #48 02-05-2018

I just stopped by just to see what Empire had to say today since the whole world is panicking and it looks like 6.5-5K BTC is now a possibility.

1K BTC???

empirestate · #49 02-05-2018

The trend is real..

quest · #50 02-05-2018

too much speculators are included, real value is around shady transactions.. ant its most likely below $1000.

phaz0rz · #51 02-05-2018

Quote:

Originally Posted by quest

too much speculators are included, real value is around shady transactions.. ant its most likely below $1000.

I was reading an article earlier saying that BTC has gained 30-70% of it's value because of Tether magically "minting" millions/billions of new Tethers every time the BTC market starts to take a downturn. Tether is a shady company who's still refused to release an audit of their reserves and is now being investigated.

Quote:

The report’s author paints an even more bearish outlook in some scenarios. If the bitcoin price was propped up by Tethers that were just magically created each time the price fell, as the author’s analysis suggests, then the subsequent rallies potentially wouldn’t have been as powerful over the last year. All told, the author believes the price of bitcoin could be just 30% of the price quoted on exchanges during the study period. That means instead of $15,000 in early January, the price of bitcoin should have been $4,500.

https://qz.com/1196866/bitcoin-price...propped-it-up/

Of course I don't know what any of this means in the grand scheme of things, but it's something to think about.

Mr. Invisible · #52 02-05-2018

I'm a FX/Futures/CFD trader (ebay is the side hustle)... Once the CME launched BTC futures making it easier for institutional players to sell I decided I was out. I short sold BTC around late Dec @ 16657 with my offshore broker. Every -200 is +23% for me.

Never expected it to meltdown this fast like this though, but the daily FUD (China, India & Korea bans, alt coin collapse, 500M Japan Hack, major banks blocking CC funding, SEC/CFTC Bitfinex & Tether subpoena) is all having an effect.

empirestate · #53 02-05-2018

Parabolic meltdown, it's the best time to buy...
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GreenBean · #54 02-05-2018

Quote:

Originally Posted by slokor

Do you ever have anything useful to contribute? or are you just working on your post count?

And as expected...

Play · #55 02-06-2018

Update...

So price continues to tumble. I've read a vast array of reasons why its in decline, a lot of it does make sense. Reasons spanning from biased media, to greedy whales, i've read it all.

But I still think there's hope for cryptocurrency. If you're smart, you would of spread your eggs out, and purchased more than just Bitcoin. I can't see cryptocurrencies such as Ethereum for example going obsolete.

Also a lesson about investment which I've noticed most people don't possess, is patience. Just because Bitcoin was a money machine Q4 2017, doesn't mean it will always be. Most investments take time to pay off, just how it works.

Also a lot of bashing - Either you believe in this tech, or you don't. I respect either opinion as it's anyone's guess what will happen with crypto 10 yrs from now. One thing is for certain though, it's on everyone's lips.

slokor · #56 02-06-2018

Quote:

Originally Posted by empirestate

Parabolic meltdown, it's the best time to buy...

More advice from the expert.
I asked you directly before - how much are YOU buying?
Stop giving people advice that you yourself are not following - hypocrite.

newjerseymax · #57 02-06-2018

I cant imagine it going below 200 day trend which is around 6k. Institutional investors will know below 6k is oversold and all the charts will show buy. I believe this is why its trending just above 6k. If it falls below 200 day moving average then who knows.

**aspkin** · #58 02-06-2018

This is a buying opportunity. BTC isn't going anywhere. If you're patient with it you can make huge gains on the buy side. I have no planes on selling my BTC until the end of 2018. Buy the dip.

quest · #59 02-06-2018

don't hurry, new dips coming

duffrageous · #60 02-06-2018

Quote:

Originally Posted by Mr. Invisible

I'm a FX/Futures/CFD trader (ebay is the side hustle)... Once the CME launched BTC futures making it easier for institutional players to sell I decided I was out. I short sold BTC around late Dec @ 16657 with my offshore broker. Every -200 is +23% for me.

Never expected it to meltdown this fast like this though, but the daily FUD (China, India & Korea bans, alt coin collapse, 500M Japan Hack, major banks blocking CC funding, SEC/CFTC Bitfinex & Tether subpoena) is all having an effect.

So what was your wager? Say you put 10k down at 16657 and then it hit 6657. That's 10k*23%*10k/200, so you made it out with 115k and your offshore broker keeps paying you out of his pocket until you decide to stop the short?

duffrageous · #61 02-06-2018

Quote:

Originally Posted by newjerseymax

The correction/crash was a self fulfilled prophecy...

Problems I could surmise:

1. FUD
2. Exchanges not adding new meat (long waits)
3. Insider trading
4. ASIA banning currency (At least threat of it)
5. Alt-coins - Paradox of Choice
6. Bitconncet
7. Hacking, theft
8. New US regulations for taxation

All the serious bitcoin holders knew it would eventually level out. The Jan 1 full-week alt run-up was the precursor when the market went from 600b to 830b. Then on Sunday Jan 7, coinmarketcap wipes 50b off the market without notice by eliminated Korean exchanges. People start to think the market is crashing. It recovers slightly the next day, but then the news breaks of China banning mining. This creates the perfect opportunity(assuming most of the whales are in China) to sell off their bitcoin and other crypto, leading to the perfect descending wedge that we see in the 1-month chart here. I heard 1000 people hold 40% of all bitcoin and probably a higher percentage of most of the alt coins since they had so much money to burn in the beginning when the price was so low.

The market will recover, but everything was grossly overvalued. I still don't know why holding some random alt coin worth X amount of dollars gives me X amount of power in the core technology of that coin.

https://coinmarketcap.com/charts/

Still dropping in the 1-month chart. I don't look at the bitcoin chart by itself, just total money in the market. I think 5k btc is the near bottom that it should hit on the Sunday night pullback.

H4ck · #62 02-07-2018

I feel sorry for people who sold their houses for bitcoin......hopefully they cashed out before the huge market correction.......

H4ck · #63 02-07-2018

i can see it now, the US Feds Regulators will start to make real estate companies and dealerships be forced to disclose identities of people paying with bitcoin. Probably run under the same muck also report to IRS.....and everything.....If they are doing it with paper money.....they will do it with bitcoin only a matter of time.

Guaranteed......

nate · #64 02-07-2018

F&#k S*1t As$ B1tc& C^nt!!!!

Coinbase/GDAX cash deposits take 2-4 days.... They drug me the whole 4 days. I've yet to get my deposit. F#%^!!!!! CRASH BTC CRASH..... OMG I'm so mad right now waking up to 8.5k BTC.

I heard Gemini exchange in instant but you cant withdraw your BTC until the payment clears... I'm going to have to look into it

**aspkin** · #65 02-07-2018

Quote:

Originally Posted by nate

F&#k S*1t As$ B1tc& C^nt!!!!

Coinbase/GDAX cash deposits take 2-4 days.... They drug me the whole 4 days. I've yet to get my deposit. F#%^!!!!! CRASH BTC CRASH..... OMG I'm so mad right now waking up to 8.5k BTC.

I heard Gemini exchange in instant but you cant withdraw your BTC until the payment clears... I'm going to have to look into it

Lol.. I'm transferring more funds too.

Luckily I had some money left in exchanges to buy yesterday but not a lot. I'll buy more in the next day or two.

yotano211 · #66 02-07-2018

Weird, I am also buying ETH. I sold everything some days ago and just bought last night around 10pm (my time). I woke up with ETH going up more than 10%.

I am switching all of my mining machines to mine zcash since I have lots more Nvidia 1080s vs 1070s. My daily mining income should increase a good 25-35%.