Finally Jimbo returns.

Now we are going up.

Are the bears already satisfied with their honey?

Its the cult of Karhu. They are appeasing the bear god with the sacrifice of the burning hands.

Trust HODL, the cyclopic one. HODL will show you the way to the golden bulls. Just HODL it.

Or you can short in a offering to Karhu. Your choice.

Didnt see it on 7000s.

If it bounced back, maybe we might go up, but the chinese new year is not here yet. It can be a bull trap.

Do you mind taking one for the team...?

We are going to $4k, but I'm already preparing myself psychologically for $2500.

Sad, because I remember the 1st of August and it was memorable when bitcoin was above $3000.

Nobody is going to buy right now, because it keeps dropping.

Maybe Ifinex is doing this, selling their btc in other exchanges and provoking a snowball effect. They need the dollars to prove the tether is backed by them.

So 2.3 billion worth of bitcoins are being dumped.

I was thinking on selling to buy back lower, but who knows, it can stop right now and come back up.

Do any of you have numbers of how many btc were dumped since this bear run started?

I was thinking no TA works anymore, but your analysis seems very reasonable. I hope it works.

Thats when they will gox their users. I dont understand these people who let their money sitting on exchanges, when we have all kinds of wallets for personal use.

Makes complete sense. But then theres that people who will say this is a tin-foil hat conspiracy theory.

Just look at the growth after the end of october. Its not normal. If it was only average users, it wouldnt spike like that.

Thats why we need to HODL.

This is a test of faith. But you still have 70% of it.

Embrace the cult of HODL. This is a initiation.

You are entering in a new degree of the cult.

Karhu is here to test you.

How a exchange would reject coins? Its all automatic.

And most coins in circulation were used in the dark web at least one time. We all know about it.

Not only lightning, theres also MAST, smart contracts for bitcoin:

https://www.coindesk.com/inside-mast-little-known-plan-advance-bitcoin-smart-contracts/

I'm going to bleed as bitcoin touches 5k, but I'm not all-in, so no need to sell.

The problem with most people is that they put all their eggs in a single basket. They go full into crypto and dont inform themselves about the risks. Thats why we have those crashes.

On a sidenote, my QT wallet got better after I put the blockchain in my SSD. Now it is synching fast and no more sluggishness.

Month closed on the price range I voted: 8-10k.

What about a new pool for 16 february?

I'm seeing this as a kind of a "initiation" into the cult.

I was believing it was FUD too, but really, I'm starting to think all this crash is being provoked by a single whale.


This is a very likely scenario. The whale is dumping and faking buy walls at lower prices. People are falling to his lure and panic-selling in their turn. It becomes a snowball.

Se estiver doendo muito, você pode vender e sair.

O facebook baniu estas propagandas porque vai colocar a litecoin na plataforma.

As exchanges hackeadas na Coréia do Sul estão sendo investigadas. Não estamos mais na época do Mt.Gox.

Governos sempre estão forçando regulação, não é novidade. A China baniu o bitcoin há um ano, e vai banir de novo agora.

E falando no tether, sinceramente... o sistema bancário funciona exatamente como o tether, não possui lastro algum... você só assume o Real como dinheiro porque existe consenso na sociedade para isso.

E tem outra, o tether representa só 2,3 bilhões de dólares, num mercado de 500 bilhões. Um mercado onde a maioria dos usuários usa fiat para comprar bitcoins.

I agree. This tether issue proves most users are still chained to the old system. They dont see bitcoin as a possible substitute for fiat currency in the future, but only as a way for quick profits. And this is bad, because it proves bitcoin was misunderstood.

If tether is backed by real dollars or not, bear in mind that fiat currencies are not backed by anything. People are failing to see this.

I miss Jimbo's posts. This thread now is a bear tavern.

We have to go long and stop thinking about it for some time.

We all rejoiced back in august at 3k and october at 5k. Its bad to see everything dropping back and threatening those levels.

Curiously, august was the month of the bcash fork, and october of the bgold fork. Maybe we need a new professional fork to spike the price up? Or a new Roger Ver to make some drama?

I think it will continue in February, and can drop to 4k in a worst case scenario (and even with that, it would last only some hours).

I will not bet on it though. I nearly got squeezed by that bounce between december and january. I will hold in cold storage. It can revert at any minute and start a intense bull run, without any notice. We dont know what is being discussed at the back of those futures markets.

Also, pay attention to volume. Theres fewer and fewer people selling at the current price. It looks like a group of whales (or even a single whale) is selling low, but they will run short of bitcoins sooner or later. The fees have decreased and people will be able to move their new bought coins to cold storage without too much of a hassle, so the volume can drop easily from the exchanges, which will increase the price.

TA is failing hard for bitcoin, in both directions.

Trading in shorts is risky and stressful, its bad for health. You will never know when theres a reversal, and since bitcoin is a ongoing project (LN, MAST and Schnorr signatures are some implementations coming to it), the possibility of a new bull run is much more clear.

I believe we are in a very short-lived bear market, which will last some weeks. Its better even to call it a bear trend, since a bear market usually lasts months, if not years.

I did short a small fraction back in december, but it was to rebuy lower. However, I nearly got squeezed out. It wasnt panic selling, I was just trying a little increase on my humble stash (I usually do that with altcoins in Bittrex, in small quantities, but they were falling as well). Im a bad trader, and I believe the price will go to 25k in march.

I read that Alyssa also shorted a fraction, and then theres this guy, who probably sold in panic, and got from bull to bear in three topics:

January 16, 2018:
https://bitcointalk.org/index.php?topic=2765008

January 19, 2018:
https://bitcointalk.org/index.php?topic=2788158

January 30, 2018:
https://bitcointalk.org/index.php?topic=2850374