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Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Hello Every One !

After a 50% daily drop, everything is possible. We can see price tomorrow going to $2-3k area or a bounce above $6k ! what do you think guys ?

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Very volatile indeed - ppl who bought at around 9k are being hurt badly. Buy some if you figure on holding long

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Sorry to hear that phaz - we are all taking beatings in some financial manner with this Corona :(

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

I think I will invest some money into bitcoin when it reaches 3k-ish points.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Should I invest into BTC then when it reaches the 3k mark ? Never been a fan of cryptocurrencies

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Gold is way down too.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Probably not, unless you have a use for it.

HODLing is a joke. What are you going to do.. just sit on it forever until it's banned for facilitating drug transactions?

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

The problem is I legitimately have no use for BTC so you're right phaz. Buying and flipping a mid range luxury used car is more profitable than waiting for BTC in my opinion.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

And something you can predict. Which is very important!

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

So the only use for crypto is to finance drug transactions? I guess those cannot be facilitated in any other way (such as cash).
Maybe watch the Netflix show Narcos and see how things were done before crypto - and in what volume.
And maybe get a bit more educated on crypto in general before writing such nonsense.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Not a loss until you sell

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

lol, it's not nonsense. The majority of bitcoin moving revolves around drugs. Do you have any idea how hard it is to buy large quantities of drugs with cash? KYC, SAR's, CTR's, WU banning you, USPS seizing your cash.. the possible problems are endless. Crypto has eliminated all of those issues for the drug industry. There are over a half dozen dark net markets active currently, with the largest grossing tens of millions of $'s in global sales weekly.. almost exclusively in bitcoin (they allow monero too, I think). I doubt whatever you're taking in selling eBay accounts comes anywhere close to the volume of bitcoin moving every week for illicit something or another.

Hundreds of pounds of Cannabis are flowing out of California to the rest of the country every single day and it's all funded by bitcoin. I don't need to watch bullsh!t shows on Netflix to get an understanding of how the modern drug trade works.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Sorry but youre clueless if you think the majority of Bitcoin transactions involve drugs.
Complete and absolute nonsense.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Yeah, ok pal. :thumb:

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Maybe he thinks stealth account transactions are somehow comparable? lolz

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

The reason for the beginning of the drop is fear about coronavirus but the main reason for big capitulation was leverage trading, especially on Bitmex. When you allow people to use high leverage without proper education, we get squeezes like the one we saw yesterday.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Yes but short term it doesn’t look good at all !

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Bitmex lost 2000 Bitcoin yesterday for their leverage trading program !

how is the virus related to bitcoin trading?
do people trust bitcoin more since you dont have to touch it?
or people think their government is no longer trustworthy?
are there still retail stores like restaurants which accept bitcoin?

There is a cash shortage out there,most businesses are drawing,have drawn or expected to draw down their line of credit with their banks,Uber,Lyft,UAL,Carnival Cruise,Boeing ,practically every corporation !

no,but bitcoin has always been a sideshow,main street never consider bitcoins,now with this chaos,it has very limited potential.
Can you buy a respirator with bitcoin,can it cure the viral infection,can you buy toilet paper,rice,pasta,drug,food ?

I dont understand this rush to hoard toilet paper?
This virus does not cause diarhea,may be a few exception?
Paper towel is a better choice,stronger and cheaper.
newspaper is also good.
I would think rice,pasta,flour ,honey,bleach are better.
how about detergent,you want to wear clean clothes,clean dishes

gold,silver,currencies are stores of value in civilised world.
Did you watch the movie Book of Eli?
chewing gum,shampoo,water,fuel ,grains,chicken which can lay eggs,cows,even aspirin ,antibiotis past expiration dates are worth more.

use voided USPS shipping label!

speak for yourself,you like to dabble in cryto,you know what to expect.
If you are a Saudi sheik,what is a few million dollars loss?
But Cryto is still better than cabbage dolls,at one time a father was going to build a portfolio around such dolls for his kids college fund !

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

forget bitcoin, toilet paper is the new 2020 currency/store of value

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

The virus caused big market gaps in traditional markets that can create fear and transfer it to crypto markets as well.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Average life span of a fait currency is 30-40 years. British pound has been around for 300 and change.
I just find it ironic the next bitcoin halving will coincide with the greatest financial collapse of all time.
At this rate, S2F (stock to flow) projection of $100,000 per BTC doesn't seem all that far-fetched.
Seeing that at the end of 2021, $100k won't buy you that much.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

The majority of bitcoin moving revolves around trading. You could watch whale alerts to see where the coins go instead of guessing. 99% of exchanges have KYC for withdrawing $10k (ie: 2 BTC per day) or larger transactions no matter what country your in. If a cartel was using Bitcoin to move money around... They should find a new CTO. Bitcoin is NOT anonymous.

The reason BTC had this price drop was from asset managers limiting their clients risk. Although bitcoiners look at bitcoin as a low risk asset long term, asset managers do not. In order to move their portfolios into low risk assets they closed their BTC positions which had a domino effect when price dropped closing others positions that were leveraged. Couple that with the average person scared to spend liquidity not knowing if they were going to have income coming in next month and miners selling to pay for power.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

And this will go to bitcoin how?

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

I think there is a probability that the value of usd goes down to help US economy , what do u think about bitcoin if it happens ?

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

I just read gold coins,gold bars are sold out?
A 83 years old gold trader said in his 50 years career trading gold,he is noT surprised,the fact that it is out of stock,people just want more,like TOILET PAPER.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Tether Issues More than 1.5 billion new USDT this Month !
https://7bitcoins.com/tether-issues-...dt-this-month/

Is this injection that will help Bitcoin break $7000 and go back between $8000 and 9000?

This is definitely a positive thing for bulls.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

There has to be some good reason to turn to crytocurrency in time like this-?
that touching,hoarding gold,coins and bills could give your the virus,that stores only accept cryto currency/or we are so weak,we have no strength to carry physical store of value,we have become delirious.insane and couldnot recognise or recall where we put.
them.
or it is just not safe to have them amid all the physical crimes.

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Large holders of over 1000 btc have been increasing every week since late 2018. Few of these holders actually dumped any btc during the 8k to 4k drop on March 11/12.https://i.imgur.com/SHNjtKX.png

Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !
 

Managed to get some at $5k