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ssmc2
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Merit: 1040
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October 08, 2017, 08:01:39 PM |
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Once we're past 4700 then the fun will start
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Wekkel
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yes
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October 08, 2017, 08:06:15 PM |
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Close to ATH and no Chu Chu in this thread. It is remarkable that Bitcoin proved so resilient and - looking at the absence of any strong emotions in this thread - we are getting used to it  |
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BitcoinNewsMagazine
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October 08, 2017, 08:13:02 PM |
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If ATH is taken out the first Fibonacci extension from most recent swing low is $6200  |
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savetherainforest
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October 08, 2017, 08:14:34 PM |
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Once we're past 4700 then the fun will start
Meh.   |
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Torque
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October 08, 2017, 08:19:32 PM
Last edit: October 08, 2017, 08:35:46 PM by Torque |
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It remains remarkable to me that when banksters and funds managers keep being asked about bitcoin, even the ones that are somewhat appreciative of its potential keep using the word "valuation" or phrases like "at this valuation" to describe whether it is fairly valued or not.
They keep talking about it like an existing stock or commodity trading on the NYSE or NASDAQ. Never mind that fact that the current valuation only really applies when there is large amounts of industry leverage being applied and/or excess derivatives. Bitcoin barely has any of this, only one or two obscure investment traded trusts like GBTC, and hardly any leverage being applied. Deep pocket traders can't even effectively get long or short because of all the different exchanges involved and the lack of actual btc available. Large hedge funds can't even get in and play the game quite yet.
Right now, Bitcoin's price is as close to an actual "valuation" as representative of a fairly traded market not based on credit as you will probably ever get. Market price discovery is looking fairly legit right now. It's only when a bunch of ETFs come on line as well as excessive leverage and collateralization would you have to worry about bitcoin's market "valuation". When this happens, the price could do a 10X or 20X within 6-12 months, but then after that would be a time to start to really question its "valuation".
TL/DR - buy it now before all that happens!
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ragnar0k
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October 08, 2017, 08:31:52 PM |
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... meanwhile b2x is losing 10% every 24 hours...
I guess that is why BC is raising, doesn't look much of a threat so far. Fingers crossed
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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October 08, 2017, 08:34:24 PM |
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Why isn't that a good sign? Perhaps only if you have them. Alts are coming un-pegged from BTC. I think that's a great thing. These startups must deliver use cases soon or meet their doom.
Yeah, they have presented all kinds of pie in the sky use cases that are described on some kind of theoretical white paper. And, the most use cases have been the ability to use ETH as a means to fuel a vast majority of pie in the sky projects. |
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Icygreen
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October 08, 2017, 08:40:29 PM |
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And BCH looks like its going to dump past the first wall @ .075
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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October 08, 2017, 08:43:59 PM |
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feel kind of sorry for all those who dumped their bitcoin for bcash. (except for those who were aggressively bragging about bcash and how they hate bitcoin)
If they are that retarded and/or greedy, then they probably deserved what they got for their hype-based gambling predilection |
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gentlemand
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Welt Am Draht
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October 08, 2017, 08:48:58 PM |
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Have you perused the comments beyond it? It's somewhere between 1000 and 5000 lines of relentless abuse. |
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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October 08, 2017, 08:52:57 PM |
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Comes off as retarded, premature and desperate... and possibly a few other descriptors. |
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Torque
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October 08, 2017, 08:54:43 PM
Last edit: October 08, 2017, 09:11:41 PM by Torque |
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But...but.. what about BCH? Oh my gosh, is BCH now being quickly abandoned by the same people in favor of a new fork? Whodda thunk it? Will the real slim shady alt-cash please stand up? |
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BlindMayorBitcorn
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October 08, 2017, 09:30:54 PM |
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Have you perused the comments beyond it? It's somewhere between 1000 and 5000 lines of relentless abuse. Yeah, I rather enjoyed that. |
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conspirosphere.tk
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Bitcoin is antisemitic
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October 08, 2017, 09:35:26 PM |
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sirazimuth
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Merit: 3617
born once atheist
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October 08, 2017, 09:37:43 PM |
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Oh my gosh, is BCH now being quickly abandoned by the same people in favor of a new fork? Whodda thunk it?
well I must say I haven't seen that bear at the picnic table lately... |
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buyandhold
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October 08, 2017, 09:44:43 PM |
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Oh my gosh, is BCH now being quickly abandoned by the same people in favor of a new fork? Whodda thunk it?
well I must say I haven't seen that bear at the picnic table lately...  Cruising the altcoin section no doubt conning newbies. |
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Meuh6879
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October 08, 2017, 10:11:19 PM |
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Source : http://www.zerohedge.com/news/2017-10-08/bitcoin-surges-back-above-4600-first-time-month The Chinese Communist Party Convention, for instance, will be over at the end of this month. This means that the first catalyst may materialize soon after.
Time may get close for the second catalyst, as financial markets undergo a crisis, every 8-10 years; and eight years have already lapsed since the last crisis.
As of the other two catalysts, it’s hard to set a time.
That’s why investors in Bitcoin and other cryptocurrencies should take a longer view on placing their bets on the digital currency, always keeping in mind that Bitcoin is an alternative to national currencies, and the “new gold,” a hedge against global uncertainty.
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