Bitcoin thoughts

[Cryptokobi]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC, Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

[1715031435]

1715031435

[buwaytress]

Wait, so you actually were there when it all crashed down with ICOs and utility-less chains going down and fighting each other for extinction while Bitcoin (and Ethereum) were really the only ones with any utility existing outside of speculative markets?

And it took you a far weaker drop this year to realise there's nothing behind all those coins? Surprised you even name BNB ahead of Bitcoin, where? Don't you dare say defi haha.

Ask your friend for the best performing hedge fund numbers and ask him why they're doing so bad at predicting price.

[NeuroticFish]

Wait, so you actually were there when it all crashed down with ICOs and utility-less chains going down and fighting each other for extinction while Bitcoin (and Ethereum) were really the only ones with any utility existing outside of speculative markets?

My take is that he didn't care about Bitcoin then and he doesn't care now either. His target is promoting some ephemeral altcoin projects and pretty much that's all.
I'd also guess that his topic was made to shock and get people discuss... and to see his signature.

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

He is free to have an opinion and he's free to be wrong too.
Time will tell whether Bitcoin price will go up big time again ... or not. I expect it will go up.

[Yaunfitda]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC, Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

So it took you sometime to realize all of this? And not sure why are you disappointed with correlations with stock or any other market. And just to give you a heads up, almost all market are tied to each other because the money is flowing on those.

And you believed your friend that BTC is going to zero? if yes then I don't think you can invest on other market as you just believed what everything around you says.

[BTCat]

Cardano is extremely popular. In 1 or 2 years it will be even cheaper, then we're ready to buy again.

Crypto's is too big too fall and there is too much good technology in it to not attract more investors and project builders.

Ofcourse you have to dodge bullets when you are trading anything.

The biggest risk is that Satoshi will put his keys to work and block the blockchain. Insane that only one or a few people have this power
and even the billionair investors and banks trust the creators of bitcoin to not do this.

[Baofeng]

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

So another set of FUD?

But you have to think about it though, if BTC is going to zero then the whole market will collapse, so what will happen to those traditional market like stocks?

Then again, we have reach a level that government like El Salvador makes it legal tender though so I doubt that it will go from $69k->0.

[Dunamisx]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC

Bitcoin so far so good remains the approved and recommended digital currency in cryptocurrency to go for right now while others are exhibiting uncertainties due to the drop in bitcoin price, investment with altcoins this period pose more risk than expected if the bear deepens the more before we had any trace of bullrun.

Cardano is one big scam imho

This is the common attribution to altcoins, not only cardano but many of it likes are still dangerous to risk

And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

When you started your talk i thought it's something you really understand the whole thing but seing that you're mixing bitcoin with altcoins discussion here gives more signs that you're getting it with misconception entirely, bitcoin is different from altcoins even though they were all crypto, you can't just conclude on bitcoin to going down base on what other gives on social media, this is an indication that you don't understand the history of it past volatility to date.

[Upgrade00]

The biggest risk is that Satoshi will put his keys to work and block the blockchain.

Satoshi cannot block the blockchain with his keys. Moving the coins from the wallet ascribed to Satoshi, that would cause a bit of panic among investors, as well as lots of media attention, but that would not affect the blockchain.
The possibility of a backdoor created into the protocol is unknown a this point.

[aoluain]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC, Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

All altcoins with the exception of Monero, Ethereum and Litecoin are a pure waste of time.

If there is a correlation between the stock market and Bitcoin, which may be the case
to some degree its funny how your hedge fund friend picks out Bitcoin as going to
zero.

We all have seen the claims over the years of Bitcoin "going to zero" and ...............
it has yet to happen.

[yazher]

This is not the most downtrend in history because the price is still holding on at $18,000+ which is far from the last time when it goes down almost $5,000 after it reaches its old ATH back then. This kind of scenario is expected to happen because we already passed the bitcoin halvings a long time ago and we will go for a new one two years from now it will be another different story but of course, the only people that can really earn huge earnings are those who have guts to take the risk to buy now and keep it until the next bitcoin halvings. We all know it will surely be enough reason for the BTC price to rise again.

[Crypt0S0ul]

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

Forget about your friend. Tell me what you think about it.
When was the last time you saw the BTC was zero? Ahaam. can't remember?
No worries. It happens. Let me tell you a recent story.

A Few days ago, In Lebanon, A armed customer robs the bank to get his money. 

Two seemingly armed and desperate Lebanese depositors held up banks on Wednesday to force access to their own money, which has been blocked during a national financial meltdown. One woman with a gun and some associates briefly held hostages at a branch of BLOM Bank in the capital Beirut, before leaving with more than $13,000 in cash from her account, a source from a depositors’ advocacy group said.

Shortly afterwards, in the mountain city of Aley, an armed man entered a Bankmed branch and retrieved some of his trapped savings, before handing himself into authorities, the Depositors Outcry and a security source said. Lebanon’s banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics.

In a phenomenon illustrating the plight, Wednesday’s holdups came after a man last month held up another Beirut bank to withdraw funds to treat his sick father.

BLOM Bank said a customer and accomplices arrived with a gun, threatened to set people on fire, and forced the branch manager and treasurer to bring money from a safe.

‘Nothing more to lose’
Before going into hiding, the woman, Sali Hafiz, told local news channel Al Jadeed TV the gun was a toy and that she needed the money for her sister’s cancer treatment.

“I have nothing more to lose, I got to the end of the road,” she said, saying a visit to the bank manager two days previously had not provided an adequate solution.
“I got to a point where I was going to sell my kidney so that my sister could receive treatment.”

BLOM confirmed the customer had been in to seek her money for her sister’s treatment, saying she was offered total cooperation and requested to provide documentation.

“All we have is this money in the bank. My daughter was forced to take this money – it’s her right, it’s in her account – to treat her sister,” her mother Hiam Hafiz told local TV.

Authorities did not immediately comment on the incidents.

Source: CNN

Did you get what I was trying to tell you? I hope you are smart enough.

[BlackHatCoiner]

If instead of spending your time with ICOs, you actually studied the subject, I'm sure you'd have a more configured opinion regarding the subject. You clearly don't, no offense. Putting bitcoin in the same basket with centralized scamcoins like BNB and ETH makes it clear you don't know an asp from a hole in the ground.

It's never too late to learn: https://www.lopp.net/bitcoin-information.html, https://en.bitcoin.it/wiki/Main_Page, https://nakamotoinstitute.org/mempool/the-problem-with-altcoins/.

[cloudfir3e]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC, Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

it is true that for now the crypto market looks weak and almost nothing on all coins.

but look at bitcoin which is the parent coin of all crypto altcoins starting to crawl up little by little.
From this I personally believe that at some point in the future bitcoin will grow significantly and can be followed by mass increases one by one from the altcoins below which follow the increase in the price of bitcoin.

[Despairo]

I think @OP account has changed hands

How the hell did you forget biggest crash on 2018 where many altcoins become shitcoins. How you can say Cardano is the biggest scam? I believe you're invest in Cardano when it's on top 3, but right now it's on top 8 and the reason why you're saying it's scam because the price factor isn't?

How about UST which supposed to be a stable coin but the price is far than $1, that's the biggest scam.

Sooner or later you will see ETH and BNB will lose their current position.

[seoincorporation]

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the US

Please ask to your friend how this will happen because talk is cheap.

If Bitcoin value could hit zero then that would already happen, but it can't and that's a fact, not an speculation. We know a lot of people would love to see bitcoin getting to that point. But since there is a market for it then it will be impossible to see it going down to no value.

In the past i write some epic scenarios where bitcoin could lose his value, but those scenarios are only if the technology or the encryption fail. But again, that will not happen.

[uneng]

Actually, the market was much weaker after the ATH of 2017, which followed like this until the bull run of 2021. Since you are in this market since 2017 you should know about it. The currently scenario isn't good, but it isn't the worst of all times anyway. Bitcoin is definitely not going to zero compared to USD. The support level is strong at 19,000$ and even though it breaks, we are going to see support levels on every price ranges below 19,000$ until it reaches to an alarming level that could make us believe the price would be heading to zero. It means bitcoin has a lot of time and can hold on until we leave the bearish season.

[isaac_clarke22]

~

Sure, let's trust a random stranger's friend from a random hedge fund company.
Source: Just trust me bro.

If you've been here since 2017, surely you have been when times where Bitcoin was below 5k after that year and it still managed to get back up to 10k if I can recall correctly. I am sure that you already saw that pattern from that and not just because your friend told you so.
I've been here since 2017 as well (early january) though I registered in this forum late 2017, when I felt lost where all Bitcoiners were really gathering at.

[Rruchi man]

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

This is another case of an individual who because of their position or how much they think they know about the financial market think they can give accurate prediction about the future price of bitcoin. A prediction stating that the price will get to 17k, or even closer to 10k holds more water than saying the price is getting to zero value. The future is bright for bitcoin regardless of how the present situation looks.

[Oluwa-btc]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC, Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

And how has some of the fiat currencies been going ? Go check Australian, British Pound and also Nigerian Fiat. Haven't they ball depreciated and lost them values ?
 Freedom to say whatever you want, but if you understand Bitcoin, then you'll see that getting back to ATH is a sure banker. Nobody love's it when they loss money but know that Bitcoin might not get to ATH too fast Bure certainly. (Patience is all you need )

[suzanne5223]

I’m into crypto from 2017 and now for the first time I see how weak is this market, there is almost nothing behind all the “coins” except maybe BNB ETH BTC

BTC, ETH, etc is never fiat currency and you expect it to be back like the fiat currency. What they had or back with is community support. This something happens to all decentralized crypto.

Cardano is one big scam imho. And the most disappointing thing is the correlation between Bitcoin and the stock market.

Since you've been into cryptocurrency since the year 2017 I believe you should know before now that Bitcoin and the stock market always correlate at some point and this always happens during th bearish season which we are in now. In addition to that, don't hold Cardano but during the total bearish market, all coin is deemed to downtrend 50-95% of there ATH price so why is Cardano a scam when it has reached the max downtrend range?

Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

I believe you should know that this is the same old story people always said during the bearish market just to manipulate the market or because they don't understand the 4 years cycle of the BTC market.

[eaLiTy]

~
 And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

What is the grand revelation that you found regarding the correlation between the BTCitcoin market and the stock market. I bet you cannot find the correlation now as the cryptocurrency market is in a bear phase, there might be momentary aspects which might create an illusion that it is more correlated but it is not.

As for the friend and his vision, ask him to learn about BTCitcoin rather than mere speculate without knowing what he is talking about and he is not the first person to profess that during a bear market  .

[decodx]

<...>
And the most disappointing thing is the correlation between Bitcoin and the stock market. Friend of mine that works for one of the biggest hedge funds tells me the BTC is going to zero value against the USD

It's a tough time to be an investor in Bitcoin, or any cryptocurrency for that matter. But hey, I believe the correlation between bitcoin and stock market is a good thing because that means more technology money will come into the bitcoin ecosystem to secure its place on technological battlefield. More money coming means better tech: more research and development, more people using it, more merchants willing to accept it. More money in its game means better price points and faster adoption as prices go up.