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the major difference is the level of fear so far is lower and the levels of bearish posts much much lower. We either have further to go or the asset class has matured a bit (or both)
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Bitmain and GMO will have to start manipulating the price upwards soon. We are getting close to the point $5,750 where an S9 doesn't even pay it's electricity costs (assuming 10c power), that will be killing their forward order book and bitmain have an IPO to sell.
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https://twitter.com/BithumbOfficial/status/1009239883645243392[Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.
*All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. We apologize for your inconvenience and thanks for your understanding.
 timing is everything Kevin, twas no coincidence more to come? will there be a big one or multiple? Perfectly timed hack - such FUD. Why do people keep building trust into trustless systems? |
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Speaking of Bitcoin, who the hell voted for another leg down in the poll. I didn't approve of this. Bob?  Nope. Voted for $8-$8.5k. Gotta remain optimistic that this bear run will break "hopefully soon-ish". I was surprised too... i mean how the hell bitcoin can go <$4,000 I mean how?.... ok why? Ah one of those mid 2014 , Bitcoin can never go below $400 arguments. Bitcoin will go as low as it takes to flush any weak, middle and semi-strong hands. This forum isn't even close to the "OMG Bitcoin is dead and I've lost my house" tears of December 14, Jan 15. Once every post in here is bearish and the bulls are laughed at, then and only then can the next rally begin. |
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$4K at year end by way of 2.5-3K, as I have been saying since February
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If there are exchanges controlling the market it's bit Bitfinex any more, hell they're not even the largest players in tether anymore.
Look at Binance, Okex and Houbi all three of whom have to keep moving about to avoid exchange regulations. If you want dodgy exchanges in the crypto world it's anything that links back to okcoin or any other original Chinese exchange.
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Don't forget that hash rate being deployed now was likely ordered in Q1 18 or in the bubble. Assuming 10c power or lower cost of bitcoin production is still <$6k. That said if hashrate grows at the rate it has been since start 2016 you won't ROI on an S9 at $600 for the miner, or even on one of the proposed new GMO 7nm miners at $2k. So if I ran the biggest asic mining company in the world with a revenue of circa $2.4bn last year I would either be looking to support/increase the price of Bitcoin and by extension bcash so that my product looks more attractive, diversify my company into AI or other computational heavy production, or IPO my company (or all 3)......
Google trends for Bitcoin looks pretty poor right now.
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Italy panic over, normal selling will resume shortly.
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No way it goes to $3,000. Too many people will pile in if it goes anywhere near low $5,000’s.
That's funny. There were supposedly too many people waiting to buy in $14,000 as well - like bill gates and da bag insitutions were waiting there to buy every coin at 14K. You most likely thought it was going to $0 in 2014 I actually drew charts showing that it would bottom around 300 and reach ATH in 2 years. Everyone thought it was super bearish and laughed me out of the forum. I ended up being wrong... it went lower than I expected, bottomed at 160 and reached ATH in 3 years. I was too bullish. All those people who said it would never break $666, never break $400, never break $250 etc etc etc. |
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So when does what is going on in Italy become the next crypto trigger? Cyprus 2? Two year Italian government debt is down 5% since Monday morning, that's enormous in govt bond terms.
Now who owns all that government debt I wonder?
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Analysis is flawed, it is based on the premise that making something gives it a value equal to it's input costs, which is total horseshit. More bitcoins already exist than will ever be mined in the future. The thesis that mining supply dictates prices is no longer valid, it's only one input
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Saw that. Looks like the US is going to go after foreign exchanges. Finally the US getting involved with the business of other nations. Oh no, wait. The SEC can only regulate US exchanges. And the US exchanges are basically US government bank exchanges already. So...maybe they will drop bombs on foreign exchanges? That's what the US does best. The SEC has the power to assert it's jurisdiction over any global exchange or ICO that accepts US investors. So if just one customer of the exchange or investor in the ICO is US domiciled the SEC can apply US securities law to that exchange or ICO. Note that the SEC does have to work with local regulators as well , there are various treaties that influence what actions the SEC can actually take. If a customer lies about their origin and is subsequently found to be from the US then the ICO/exchange can probably expect hefty fines and investigation by the SEC. |
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Going further down than expected. Anyone know why?
Because not enough people have been scared enough to sell yet, there is still to much hope . The down move won't break until we've seen the equivalent of Jan 13-15th 2015 when we saw 200,000 BTC trade on stamp and establish the $159 post 11/13 bubble low. Stamp hasn't seen volume like that (in pure BTC terms) since Nov 16 which is more or less the start of the current uptrend baseline of circa £3k. |
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Just read this in zerohedge and it made me laugh
noobzilla Wed, 05/23/2018 - 12:11
Permalink
The reasons why you should buy my turds for $8000 each:
I poop all over the place, so it's decentralized. You can trade my turds anonymously; no middle man is required.
There is a finite quantity of my turds, which makes them a good store of value. There's the total amount of turds I've made so far, plus the turds I'll make until I'm dead, and then that's it - no more.
Sure, anyone can make their own turds, but I came up with idea of selling my turds first, and everybody knows about it, so my brand of turds has more value. If you spent $3000 on electricity processing my turd transactions, I will mail you one of my freshly made turds.
Can't afford $8000 for 1 turd? They're divisible.
Physical settlement only though right? Sounds like a better arguement against gold than crypto, at least a turd has a use case (fertiliser) which can make it a productive asset. |
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No, and it won't until we have the final washout which will take the price down to 3.5-4k and potentially as low as 2k. There's far to much hope I'm these forums, only when fear dominates and everyone has sold or is short can the next bull market start.
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So we're in nicely negative beti territory now, somewhere around -0.32/33 area? If we repeat previous post bubble behaviour with lows in the -2 area, that looks like 3.5kish at year end. Don't suppose you could repost the time series graphs jl2012 ( last ones were 2/2 I think)?
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As always nobody has a clue.
TAs should be banned from crypto.
Just go and look at the bitstanp chart from 2/12/13 - 5/14 and compare it to the chart from 12/17 - now. Then look at what happened in the second half of 2014. See the pattern emerging? It's a classic bubble pop still , hope and fear at war , boredom has to set in before we can recover properly. |
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"Even a dead cat bounces if you drop it from a height", stems from stock market shenanigans in the 80's
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Guys, your reasons for the continuing downtrend are all wrong.
It's pretty simple.
1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.
2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.
3. Whale(s) massively short sell/dump in one go. Ending bull run. Whale mega money then sits on sidelines.
4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.
5. Average Joes finally lose interest. Sell at bottom.
... and then... eventually... (*we are not there yet*)...
6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.
There are no "reasons". There are no plausible "FUD". Its just the way it goes.
Exactly - and 6 will not start until maximum despair The only way to win is not to play. |
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You do not even know what goxxed is. To be goxxed is to not be able to trade. To be goxxed is to enter a sell order perfectly at $265 but then with 48 hour trading engine lag the trade executes at $50. Gox is the instantaneous fear of god. There is no trace of gox to be felt in this slow matured pussy market.
Snap out of it, Tera. The term Gox is being used in a different sense than the one you are describing.  "When I use a word," Humpty Dumpty said, in a rather scornful tone," it means just what I choose it to mean - neither more nor less.". -Alice through the Looking Glass, Lewis Carroll |
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