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Hash rate at all time highs, price of a bitcoin getting close to production cost, halving in 6 months, world economy going to shit and bitcoin's supply not possible to be manipulated by CB printing, development of the protocol and 2nd layer solutions in full swing, having personally been in the bitcoin market for me than 6 years.
Yeah man, I'm shaking in my fucking boots. Everyone is a whining little prick when the price goes down. The lack of ability to look even 1 year into the future is fucking bizarre.
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Well we all knew deep down that 7700 wasnt going to hold and when it broke it would get ugly.
I was waiting to see if massive buying (large volume similar to the peak of the mini bubble this summer) occurred once we had a large crash like yesterday, and sadly we didnt get the requisite volume for me to deploy my last fiat stash.
The really strong support is at 6500 so hopefully the Bargain Boyz will step in and load their trucks with massive volume at that level and end this mini bear market inside our bull market that started in Dec. 2018, because this so far has been a dud and the true Bargain Boyz have not arrived yet.
A 6500 dollar bottom would still be extremely bullish as we were in the 3-4k range earlier this year. That is where the true run to 100k starts imo and hopefully it happens sooner than later so we can be done with this mess created by the overzealous parabolic run this summer.
What I find interesting about this drop is the volume it has created on Bakkt. Another thousand down and we will see volumes increase again. Potentially this is when Bakkt starts to pay off. |
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 Just to be on-topic for a minute, so no one can say that I never was, I think we're not going much lower for quite a long time, if ever. We may briefly touch $7700 but that's it. I'll even put my name on it.  Quoted   Whoops. Damn, it only took 4 hours for me to be proven wrong. If it pulls back up a couple hundred in the next hour I will continue pretending I was right. better get out there and start buying then |
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6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
Cost of production depends on many factors worldwide. Many miners are already working with no profit at this level. Yeah maybe, but they would be miners on the margin. Hash rate is at a high and difficulty hasn't dropped yet so there has been no miner capitulation of note yet. |
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6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
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107,848 bitcoin were just transfered for a 0.02 bitcoin fee.
That's $900,000,000 transfered for $166.
No government, bank or third party had to verify the transactions, nor could they have stopped them if they wanted to.
The true power of bitcoin. 🔥 https://twitter.com/Rhythmtrader/status/1183846143442280449Corn is on the move! That is a fuck load of corn. you can never have too much corn. Except the edible kind which is high in carbs.  |
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Aryan wannabe - Nazi member r0ach, Editor of the magazine "The Small Penis Society" and founder of "Ilovetosuckdick.com", cannot admit to his Jewish origin & thoroughly mixed bastardized bloodline, but instead trash-posts on WO, busting our balls with dick-less propaganda and whining about the last time a woman talked to him.
Huge strap-on fan. Looks forward to trying the other side of a glory-hole.
hahaha, that's classic roach |
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Well that’s nice
That's what I thought till I just looked again. Possibly, we are being played. Jury is still out. Played or not, Bitcoin will fuck them all in the end. |
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Well that’s nice
That's what I thought till I just looked again. |
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https://www.wsj.com/articles/fed-adds-110-1-billion-to-financial-system-in-latest-transaction-11569505632Another day another 110 billion USD printed in the blink of an eye to prop up banks and the Stock Market at the expense of USD holders. "Thursday’s operations were the ninth and 10th since last week in which the Fed has intervened to calm roiled money markets. Rates on short-term repos briefly spiked to nearly 10% last week as financial companies scrambled for overnight funding." QE 4 is upon us and they are in full crisis mode even though stocks are at an all time high. This is historically unprecedented yet barely a blip in the headlines as Trump consumes the majority of media attention as usual. Yes we are dipping hard and the WO bottom memes to end the carnage have not yet arrived, but when we start mooning again look the fuck out because its about to get crazy and cheap prices like this will never be seen again once we retake 10k. TLDR: Its happening. Your confidence fills me with joy joy feelings |
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https://twitter.com/realDonaldTrump/status/1149472282584072192So July 11 Trump crossed the Slayer line and lost my support by bad mouthing Bitcoin. Bitcoin itself put cosmic curse upon him and his demise was only a matter of time. On July 25, just two weeks later, Trump made his fateful call to Ukraines leader and asked for him to investigate Biden, his top political opponent, and used frozen funds as a coercive measure to get his way. Now he is being impeached. How many politicians will have to learn the hard way never to go against Bitcoin. Remember the AG who came at Bitcoin only to be disgraced and resign a short time later for beating and sexually abusing ex girlfriends. Its time to face the fact that Bitcoin is a living hyper-intelligent entity that tears down its enemies one by one though mysterious ways beyond the apprehension of higher primates. Hail King Bitcoin.  Trump is not being impeached yet and even if he does, the senate won't convict, just like it didn't for Bill Clinton so it doesn't matter. I don't care either way here, but I think Democrats have really fucked themselves over with this one, it looks as though they are protecting Biden, and Biden appears to be guilty. Very possible the Democrats will lose votes over this, so this whole impeachment may be very positive for Trump. First the Russians, then the supreme court issues, and now impeachment. Honestly, not a good look if they fail at this one too. But fuck it all anyway, they can't stop BTC so it doesn't matter. |
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Good to see the bart on the charts. Could be that was the move to clear the longs for the break of the daily triangle that we are stuck in. We need significant break through 10450 for that.
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Seems fake breakout... Soon next up leg  My gut feeling is that someone is cashing out. Sell wait for recovery, sell, etc. That one looked technical to me. Support didn't hold and stops were triggered. You are right. Could be whales selling, then when stop losses are triggered buy everything back including the cheap stoploss coins. Yeah, and if that is the case we might be going back up without a break into the 9s |
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Seems fake breakout... Soon next up leg My gut feeling is that someone is cashing out. Sell wait for recovery, sell, etc. That one looked technical to me. Support didn't hold and stops were triggered. |
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Seems fake breakout... Soon next up leg fingers crossed |
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Who poked the corn with a stick?!
Wasn't me but that's a big red dildo indeed  Not really. Only looks big because we have been in such a tight range for the last week. True ... maybe I jest want it to go $200k too much $200k! yeah that would be nice, I would like that. |
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Who poked the corn with a stick?!
Wasn't me but that's a big red dildo indeed Not really. Only looks big because we have been in such a tight range for the last week. We're not down much more then 1% |
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This is either a fake out or we are heading down to 9400. Back up that truck at 9400 because it will be last time to load up for very likely the last time below 10,000.
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From time to time I post comments here from a contact that has some very close ties with high ups in the CCP. For anyone who is interested, Here is something I read from him today. His comment is in response to a recent macrovoices interview regarding China, trade deal, etc. And an article speculating on Chinas purported lack of dollar reserves. Listening now and almost fell off my seat laughing at the whole " Trump and Xi kiss and make up to get a trade deal" talk. It is such a western view and coming from someone living in Hong Kong, it is puzzling how he can miss the background for the current niceties...
1. 70th anniversary on Oct 1 is key to Xi. But dropping existing tariffs and removing some key elements from the talks are also import to the Chinese position. Trump may cave, it is always possible, but Xi can't (not won't, can't). A Xi back down now will spell the end for the CCP and expose all the mishandling of issues in the economy and ag sector.
2. I have always said there will be some element of trade, and the timing for the 'trade" concessions by China is amusing because based on USDA data I saw, a large harvest is underway with out any markets to take a large percentage of the crop output. So, if true, China won't be paying nosebleed levels for ag goods because the US needs a market. On the pork side, pay attention to the US export data (10,000 ton pork exports to China last month) not the Trump tweets. Most of these exports are from Smithfields (Chinese owned) and in carcase form not processed which means it is actually costing jobs in the sector in the US. |
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