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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
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Exclamation 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 ?
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Default 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
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by phaz0rz View Post
Seems to be following the stock market. I blame institutional investors who make up the whales with enough holdings to manipulate the BTC price. I lost $2k+.
Sorry to hear that phaz - we are all taking beatings in some financial manner with this Corona :(
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Default 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.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Should have put your money into gold when agent advised you to.
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Default 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
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by tinsoldier View Post
Should have put your money into gold when agent advised you to.
Gold is way down too.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by james_112233 View Post
Should I invest into BTC then when it reaches the 3k mark ? Never been a fan of cryptocurrencies
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?
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Default 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.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by phaz0rz View Post
Gold is way down too.
It was said slightly tongue in cheek but since agent told us to invest in gold, no it's not, it's still up.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

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Originally Posted by james_112233 View Post
Buying and flipping a mid range luxury used car is more profitable than waiting for BTC in my opinion.
And something you can predict. Which is very important!
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by phaz0rz View Post
... until it's banned for facilitating drug transactions?
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.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by phaz0rz View Post
Seems to be following the stock market. I blame institutional investors who make up the whales with enough holdings to manipulate the BTC price. I lost $2k+.

Not a loss until you sell
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by slokor View Post
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.
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.
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Default 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.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Yeah, ok pal.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Be careful phaz0rz, he'll report you to the moderators.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Maybe he thinks stealth account transactions are somehow comparable? lolz
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

...Maybe Netflix would like to make a series about it.... Stealthos, or Narky maybe?
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Default 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.
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Quote:
Originally Posted by rsot View Post
Very volatile indeed - ppl who bought at around 9k are being hurt badly. Buy some if you figure on holding long
Yes but short term it doesn’t look good at all !
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  #22  
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Default Re: Bitcoin’s Biggest Daily Price Drop In 7 Years !

Bitmex lost 2000 Bitcoin yesterday for their leverage trading program !
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