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Yep, little buy or sell volume. Traders sitting on the sidelines for now. My guess is that US gov looming decision to avert shutdown has something to do with it.
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Compared to other threads on bitcointalk, reddit, twitter, facebook.
It seems everybody in this thread is chill and hodling.
Guess being an old adopter comes with its perks.
The problem is that the crypto kiddies don't really have any skin in the game to see things play out long term. If they put in $300 or even $1000 and they end up with 50% profit (say $1500), they cash out and go blow it on something stupid. Presumably because their mind tells them "Well I'll never get wealthy on $1500 anyway, might as well just spend it then." Meanwhile they continue to run up their credit cards and work hand-to-mouth, essentially forever. This is the mindset of the forever poor. They can't conceive of how to turn that $1500 into $5k, then $20k, then $100k, and so on until they have some real wealth. This is why there aren't more millionaires running around in every country of the world. No long term vision, no patience, and no discipline. It can take a decade or two to build real wealth, which so many don't have the vision or patience for. |
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Do you expect it to actually be uncorrelated though? I could easily see equity money fleeing into cryptos (alongside of gold) once it inevitably pulls back. At least if crypto doesn't somehow crash before that, which doesn't seem highly probable right now.
I agree with the overall sentiment though, I'm exposing myself to as much crypto as I possibly can without compromising my retirement status and have no intention of exiting. Even if perhaps not the best move from an investment/capital conserving perspective, I prefer positioning myself with what I believe in (which is decentralization without risking to be forced to work a job that I don't want to at any point in my life).
Let's put it this way, I think we'll see things accelerating within the next 12-18 months with Bitcoin ETFs. This December was a turning point. It's no coincidence that U.S. tax repatriation law was changed so that U.S.-based businesses could bring overseas money back home more cheaply. That was made to happen for one reason and one reason only: more stock buybacks and more pushing/propping up the stock market. U.S. corporations had completely run out of free cash flow to buyback and prop up their own stock prices, so they needed another infusion of fresh cash. And this was how that was made possible. But after 6-12 months, that money will too run out. "A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be."-Wayne Gretzky |
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Every article I read on CNBC.com is wrong. Not just about Bitcoin, but about the economy in general. All corps and businesses are painted as being in full recovery mode, whilst crypto is painted as a space that is teetering on the edge of collapse any day now.
Completely backwards.
Of course the agenda is to get Average Joe back into the equities markets full steam.... the last bag holders when the stock market finally tanks a few years from now. Meanwhile Wallstreet will quietly hedge into the crypto space, and it'll skyrocket during the coming equity market meltdown. There's a reason why the Bitcoin futures market was created, and there will be the same reasons for the coming Bitcoin ETFs. It's not for Average Joe's benefit.
Hopefully cryptos won't even think of entering a recession before the stock market collapses. Been slowly easing out of some of my stocks in favour of cryptos for a number of months now and want some discounted stocks before cryptos plummet. Also, inb4 Trump will be at fault when equities crash. As far as Bitcoin goes, I think that on the down low Wallstreet has seriously been moving forward with plans to make Bitcoin a legit hedge instrument. A "non-correlated asset" similar to Gold, but not as tied to anything, not as collateralized and re-hypothecated, as other hedge instruments are. It's finally at a market cap size and maturity where they believe it is ready to be taken to the next step. But publicly, they are trying to paint Bitcoin as a risky pump-and-dump scheme that is in line with other risky market assets. They want Average Joe to stay away from it while they get all the machinery in place to leverage it themselves (i.e., futures, ETFs, etc.) But of course insiders know this already, which is why the price has climbed all last year as they can't resist getting in early. They can't hide that accumulation because it's a thin market with a lot of transparency and not much Bitcoin off exchange to be bought. That's why when I keep saying 'Wallstreet wants your bitcoin', I mean no seriously WALLSTREET WANTS YOUR BITCOIN. |
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should i request a paid article on CNBC?
Whole cryptocurrency market is green while Tether is the only digital currency in red?
RIP USD
Every article I read on CNBC.com is wrong. Not just about Bitcoin, but about the economy in general. All corps and businesses are painted as being in full recovery mode, whilst crypto is painted as a space that is teetering on the edge of collapse any day now. Completely backwards. Of course the agenda is to get Average Joe back into the equities markets full steam.... the last bag holders when the stock market finally tanks a few years from now. Meanwhile Wallstreet will quietly hedge into the crypto space, and it'll skyrocket during the coming equity market meltdown. There's a reason why the Bitcoin price has risen so much. There's a reason why the Bitcoin futures market was created. And there will be the same reasons for the coming Bitcoin ETFs. I can tell you that it's not for Average Joe's benefit. |
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if even a duncetard like myself can mine one for ~2.1k usd (which is expensive because uk=51st shithole) then 'fair' seems a bit unfair
If that were true then hashrate would be skyrocketing right now. |
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If Bitcoin has returned to fair market value for now, then so be it.
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Holy shit, it WAS all about the expiring futures contracts.
Market closed at 4:30p EST. Buyback now in session.
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Masterluc: Well, you understand. From 10k and lower - the last station of the departing train. Who did not have time - buy as last time in life.
More than 10k does not make sense from my point of view. Why does the last sentence seem to contradict the first three? |
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NLC was a professional fudder working in what was then the main trader’s pit to get the price as low as possible for as long as possible while he or his employer accumulated. He stopped (or rather transformed into other long con characters) when the bear market had run its course.
Bingo. And he's probably still here, just using other account(s). Could have even been a bull account in here somewhere the last few years. |
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This crash, er correction, er whatever it is really sets things up well for the rest of the year.
So many newbs, naysayers, and casual mom and pops out there who have been thinking about dipping a toe into Bitcoin definitely won't now. They'll have a laugh now and it will fade, and they will completely put Bitcoin out of their mind.
And then they will again be shocked when it takes off to the moon again later on this year or next. I almost feel bad for the people who just can't seem to win because they believe they are smarter than everyone else already involved.
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About 40 percent of bitcoin is held by perhaps 1,000 users
This is what is wrong with the bitcoin world.
If you knew what number of people held the majority of major tech companies' stock before they even IPO, you'd jump off a bridge. |
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CNN and CNBC are both a bunch of imbecilic liberal douchebag dumbasses.
That CNN Jim Acosta douchebag is like a 2 year old: "Mr, president did you say shithole, did you say shithole? did you say shithole? did you say shithole?" -"Out!" *goes on Twitter*
"Wehhhh the president was mean to me. Wehhhh.""I want the truth!" -"You can't handle the truth! Son, we live in a world that has walls, and those walls have to be guarded by men with balls. Who's gonna do it? You? You, Nancy Pelosi? I have a greater responsibility than you can possibly fathom. You weep for those shithole countries, and you curse the Oval Office. You have that luxury. You have the luxury of not knowing what I know -- that my supposedly saying "shithole", while tragic, probably saved lives; and my existence, while grotesque and incomprehensible to you, saves lives." You don't want the truth because deep down in places you don't talk about at parties, you want me in the Oval Office -- you need me in the Oval Office. We use words like "honor," "code," "loyalty." We use these words as the backbone of a life spent defending something. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom that I provide and then questions the manner in which I provide it. I would rather that you just said "thank you" and went on your way. Otherwise, I suggest get the hell out or stop reporting fake news. Either way, I don't give a DAMN what you think you're entitled to!" *dramatic pause* "Did you say shithole? Did you say shithole!!" -"YOU'RE GODDAMN RIGHT I DID!" *silence in room* I like this version better.  |
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Just think of a bitcoin like a used car that you're getting shit offers for, but you know that it's worth way more. Q: $14k? $12k? $10k? $8k? A: Nope .... 4 years later.... Q: $100k? A: Nope |
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After reading CNBC today saying that "Tether was the only cryptocurrency that was resisting the crash" you can expect anything really. Eth. I'm dead, is this for real? My digital currency in my bank account is also resisting this crash. So weird. |
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The strength of Bitcoin's market is not where it finds new high peaks, but where it finds a new bottom of support.  |
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Congrats, you win on the <$10k call. Your BCash got even more decimated though.  |
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