[ARCHIVED THREAD] - BREAKING: Bitcoin falls to $7,365 on 2/5 (Page 26 of 30)
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Why assign an arbitrary period of time to a heavily volatile investment rather than cut your losses now and get out of the silliness? I'm not encouraging anybody to try to time the market or day trade it - but there's an awful lot of captains who seem determined to go down with the ship for no apparent reason, except so they can post HODL memes on the internet. Quoted:
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We are getting to the point of a death spiral. If this keeps up it will be all over but the shouting (and fraud investigations, class action lawsuits etc). Really disappointing to see my money evaporate but I knew the risks and accepted that I would either make a lot of money or never see my initial investment ever again. I saw this coming a few weeks ago, even mentioned it in the larger crypto thread. Would have made a tidy profit if I had sold then. Oh well, plan is to hodl for the next 11 months or so. Will sell then (if there is anything left to sell or even exchanges to sell it on). I'm not encouraging anybody to try to time the market or day trade it - but there's an awful lot of captains who seem determined to go down with the ship for no apparent reason, except so they can post HODL memes on the internet. |
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Because if a lot of people liquidate now they will lock in 75% capital losses? What's the upside of that? If you try to wait it out you have a much better chance of maybe breaking even eventually. Not ideal but isn't it better than 75% losses? Quoted:
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We are getting to the point of a death spiral. If this keeps up it will be all over but the shouting (and fraud investigations, class action lawsuits etc). Really disappointing to see my money evaporate but I knew the risks and accepted that I would either make a lot of money or never see my initial investment ever again. I saw this coming a few weeks ago, even mentioned it in the larger crypto thread. Would have made a tidy profit if I had sold then. Oh well, plan is to hodl for the next 11 months or so. Will sell then (if there is anything left to sell or even exchanges to sell it on). I'm not encouraging anybody to try to time the market or day trade it - but there's an awful lot of captains who seem determined to go down with the ship for no apparent reason, except so they can post HODL memes on the internet. |
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Because if a lot of people liquidate now they will lock in 75% capital losses? What's the upside of that? If you try to wait it out you have a much better chance of maybe breaking even eventually. Not ideal but isn't it better than 75% losses? Quoted:
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We are getting to the point of a death spiral. If this keeps up it will be all over but the shouting (and fraud investigations, class action lawsuits etc). Really disappointing to see my money evaporate but I knew the risks and accepted that I would either make a lot of money or never see my initial investment ever again. I saw this coming a few weeks ago, even mentioned it in the larger crypto thread. Would have made a tidy profit if I had sold then. Oh well, plan is to hodl for the next 11 months or so. Will sell then (if there is anything left to sell or even exchanges to sell it on). I'm not encouraging anybody to try to time the market or day trade it - but there's an awful lot of captains who seem determined to go down with the ship for no apparent reason, except so they can post HODL memes on the internet. |
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Has then been discussed yet?
https://cointelegraph.com/news/ban-complete-china-blocks-foreign-crypto-exchanges-to-counter-financial-risks/amp China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Regulators in China reportedly voiced dissatisfaction with current measures restricting trading on domestic exchange sites, coming to a decision to block foreign sites as well to counter “financial risks”. |
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Has then been discussed yet? https://cointelegraph.com/news/ban-complete-china-blocks-foreign-crypto-exchanges-to-counter-financial-risks/amp More at link. The article hints at mining, as well. Quoted:
Has then been discussed yet? https://cointelegraph.com/news/ban-complete-china-blocks-foreign-crypto-exchanges-to-counter-financial-risks/amp China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Regulators in China reportedly voiced dissatisfaction with current measures restricting trading on domestic exchange sites, coming to a decision to block foreign sites as well to counter “financial risks”. |
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https://twitter.com/BryceElder/status/959770192107601920
More at the link above 
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Wow
I just checked BTC and it is hovering at $7500ish ... A quick price history check shows the 'death zone' was anyone who bought in during a critical 30 day window of between Dec 7 and Jan 7. If you jumped in mid November you are even money right now. All those who got in mid October are still ahead and are at at cross roads to sell and maybe preserve a small profit. Those that got in prior to that are the true winners ( provided they did not buy any more in the death zone mentioned above ) It's still going alot lower ... how low ? That is anybody's guess. How can you truly predict something as volatile as this ? I wish the best for everyone involved in this |
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https://twitter.com/BryceElder/status/959770192107601920 More at the link above https://www.AR15.Com/media/mediaFiles/106939/Capture_JPG-442253.jpg |
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Wow I just checked BTC and it is hovering at $7500ish ... A quick price history check shows the 'death zone' was anyone who bought in during a critical 30 day window of between Dec 7 and Jan 7. If you jumped in mid November you are even money right now. All those who got in mid October are still ahead and are at at cross roads to sell and maybe preserve a small profit. Those that got in prior to that are the true winners ( provided they did not buy any more in the death zone mentioned above ) It's still going alot lower ... how low ? That is anybody's guess. How can you truly predict something as volatile as this ? I wish the best for everyone involved in this |
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I wish the best for everyone involved in this |
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Wow I just checked BTC and it is hovering at $7500ish ... A quick price history check shows the 'death zone' was anyone who bought in during a critical 30 day window of between Dec 7 and Jan 7. If you jumped in mid November you are even money right now. All those who got in mid October are still ahead and are at at cross roads to sell and maybe preserve a small profit. Those that got in prior to that are the true winners ( provided they did not buy any more in the death zone mentioned above ) It's still going alot lower ... how low ? That is anybody's guess. How can you truly predict something as volatile as this ? I wish the best for everyone involved in this |
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I still think the bottom is around 4,000 or so. Quoted:
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Wow I just checked BTC and it is hovering at $7500ish ... A quick price history check shows the 'death zone' was anyone who bought in during a critical 30 day window of between Dec 7 and Jan 7. If you jumped in mid November you are even money right now. All those who got in mid October are still ahead and are at at cross roads to sell and maybe preserve a small profit. Those that got in prior to that are the true winners ( provided they did not buy any more in the death zone mentioned above ) It's still going alot lower ... how low ? That is anybody's guess. How can you truly predict something as volatile as this ? I wish the best for everyone involved in this |
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Wow I just checked BTC and it is hovering at $7500ish ... A quick price history check shows the 'death zone' was anyone who bought in during a critical 30 day window of between Dec 7 and Jan 7. If you jumped in mid November you are even money right now. All those who got in mid October are still ahead and are at at cross roads to sell and maybe preserve a small profit. Those that got in prior to that are the true winners ( provided they did not buy any more in the death zone mentioned above ) It's still going alot lower ... how low ? That is anybody's guess. How can you truly predict something as volatile as this ? I wish the best for everyone involved in this Consider it crypto’s “eternal September”. |
He is probably in this thread, sorry buddy! 
Attached File Attached File |
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https://twitter.com/BryceElder/status/959770192107601920 More at the link above https://www.AR15.Com/media/mediaFiles/106939/Capture_JPG-442253.jpg Quoted:
He is probably in this thread, sorry buddy!
https://www.AR15.Com/media/mediaFiles/116798/034DBA3E-4E7A-4FFB-9754-9B83CE519B66-442293.JPGhttps://www.AR15.Com/media/mediaFiles/116798/5774A68A-F798-4DD9-92BA-D20EBF42654D-442294.JPG |
| Dollar-pegged should be in quotation marks |
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Quoted: No way. Arguably $2,500 or $1,200 depending how skeptical you want to be looking at it. Comparing it to a stock bubble chart isn't even pessimistic enough because even a stock has some sort of "floor" based on the underpinning balance sheet. Bitcoin has nothing. |
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Bottom is going to likely be somewhere between $100 and $1000, probably closer to the former. Quoted:
Quoted: No way. Arguably $2,500 or $1,200 depending how skeptical you want to be looking at it. Comparing it to a stock bubble chart isn't even pessimistic enough because even a stock has some sort of "floor" based on the underpinning balance sheet. Bitcoin has nothing. Edited to add... Right now bit coin is the slutty chick in town that everyone knew would put out. Everyone wanted to take her out for the weekend to lay some pipe and then dump her on the corner after getting laid. NOBODY would ever consider letting her move in and stay with you long term |
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$20,000 BTC is never coming back, bubbles never do 2008 stock market collapsed because of the economy not because the stock market was in a bubble If I had held, I would be sitting pretty good right now. Not enough to make be rich, but enough to make me never sell again when the sky is falling. If it all goes to zero (it won't) I'll go with it. |
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Quoted: A few years ago I bought some btc and alt coins and it all went to shit so on a pump I sold If I had held, I would be sitting pretty good right now. Not enough to make be rich, but enough to make me never sell again when the sky is falling. If it all goes to zero (it won't) I'll go with it. That being said, I bought in and cashed out enough last year that what I still have in is all profit at any price |
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Quoted: Ride it back up so you can ride it back down and take a small loss? I bought btc and ltc in november when they were 9700 and 87. I just cashed out both of them. I was still up on ltc so that helped offset the btc losses. At least i jumped out before my money was worth even less. btc would need to go north of 10k again for me to be ahead... which i dont see happening any time soon. i can make up my $30 loss pretty quick once it bottoms out... much harder to make that money back if im stuck in @10k. |
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I still think the bottom is around 4,000 or so. Seeing a ton of the newbies getting in and becoming true believers for absolutely no reason other than that they saw it double, triple, quadruple, quintuple, etc people's money and the constant posts here and elsewhere where people were dumping in a few hundred bucks because "Why not? If it triples I can buy a new gun and if not then it is only a few hundred bucks" was rough. Seeing it hit 20k blew my mind. It was an obvious shuddering bubble of greed to me. I started looking into ways to short BTC but couldn't find anything that worked in the time frame I was looking for. I didn't expect it to collapse so quickly. In hind sight I would have still made a bundle had I taken the plunge anyway but I am not a gambler. I don't see a real $4k BTC value. $2k might be a new normal with all of the new attention and the stubborn people that bought way too high and are still convinced they can make it all back. However, with all of the new attention from regulators and like 1/3 of the country having legal weed now I am not even sure if a $1k value carries a healthy dose of speculation. I told myself a while back to not get too excited when $5k came around and to only consider gambling at 1-2k. Now I am thinking $1k might not be low enough. Credit card companies are even prohibiting purchases. Hopefully I am wrong and all of you get your money back. I don't really want to be tempted by a $1-2k price and am comfortable with my more traditional investments that have a history of working long term. |
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Quoted: Why? I have been tracking BTC for quite a while and I couldn't really figure out why it started to grow beyond 1k. The growth spurt from a fairly stable 500ish to 1k was pretty rapid but there were a lot of positive things in the news about it. $1000 to peak was Bitfinex printing fake Tethers and using it to buy Bitcoins to pump up the price. This is why I say bottom will be between $100 and $1000 somewhere. |
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Why? I have been tracking BTC for quite a while and I couldn't really figure out why it started to grow beyond 1k. The growth spurt from a fairly stable 500ish to 1k was pretty rapid but there were a lot of positive things in the news about it. New uses and financial institutions taking notice. Post 1k I saw nothing new for it but the value kept ramping up. This was at a time when several states were legalizing marijuana which should have caused a big hit to the value since a huge part of BTC's true value is its use in the illicit drug trade. Instead, it kept climbing. The only fuel I could find was speculation. That looked like the start of a bubble to me. I've been waiting for a sub 1k correction ever since. Seeing a ton of the newbies getting in and becoming true believers for absolutely no reason other than that they saw it double, triple, quadruple, quintuple, etc people's money and the constant posts here and elsewhere where people were dumping in a few hundred bucks because "Why not? If it triples I can buy a new gun and if not then it is only a few hundred bucks" was rough. Seeing it hit 20k blew my mind. It was an obvious shuddering bubble of greed to me. I started looking into ways to short BTC but couldn't find anything that worked in the time frame I was looking for. I didn't expect it to collapse so quickly. In hind sight I would have still made a bundle had I taken the plunge anyway but I am not a gambler. I don't see a real $4k BTC value. $2k might be a new normal with all of the new attention and the stubborn people that bought way too high and are still convinced they can make it all back. However, with all of the new attention from regulators and like 1/3 of the country having legal weed now I am not even sure if a $1k value carries a healthy dose of speculation. I told myself a while back to not get too excited when $5k came around and to only consider gambling at 1-2k. Now I am thinking $1k might not be low enough. Credit card companies are even prohibiting purchases. Hopefully I am wrong and all of you get your money back. I don't really want to be tempted by a $1-2k price and am comfortable with my more traditional investments that have a history of working long term. Quoted:
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I still think the bottom is around 4,000 or so. Seeing a ton of the newbies getting in and becoming true believers for absolutely no reason other than that they saw it double, triple, quadruple, quintuple, etc people's money and the constant posts here and elsewhere where people were dumping in a few hundred bucks because "Why not? If it triples I can buy a new gun and if not then it is only a few hundred bucks" was rough. Seeing it hit 20k blew my mind. It was an obvious shuddering bubble of greed to me. I started looking into ways to short BTC but couldn't find anything that worked in the time frame I was looking for. I didn't expect it to collapse so quickly. In hind sight I would have still made a bundle had I taken the plunge anyway but I am not a gambler. I don't see a real $4k BTC value. $2k might be a new normal with all of the new attention and the stubborn people that bought way too high and are still convinced they can make it all back. However, with all of the new attention from regulators and like 1/3 of the country having legal weed now I am not even sure if a $1k value carries a healthy dose of speculation. I told myself a while back to not get too excited when $5k came around and to only consider gambling at 1-2k. Now I am thinking $1k might not be low enough. Credit card companies are even prohibiting purchases. Hopefully I am wrong and all of you get your money back. I don't really want to be tempted by a $1-2k price and am comfortable with my more traditional investments that have a history of working long term. |
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$6964. 
Look at just the past 7 days ... starting at ABOVE $11000. Once it trickles into the next -$1K its a snowball in motion $11k - $10K - $9K - $8K -$7K and now BTC just stuck its toe in the $6K pool .... what does any sane rational person truly expect to happen here ? Edited to add ... If you do not like my short term 7 day stats above ... go back 30 days and start at the $16K point ... the exact same scenario in play. STEADY AND DRASTIC DECLINE |
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Yea that's dildo's
Look at just the past 7 days ... starting at ABOVE $11000. Once it trickles into the next -$1K its a snowball in motion $11k - $10K - $9K - $8K -$7K and now BTC just stuck its toe in the $6K pool .... what does any sane rational person truly expect to happen here ? Quoted:
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$6964.
Look at just the past 7 days ... starting at ABOVE $11000. Once it trickles into the next -$1K its a snowball in motion $11k - $10K - $9K - $8K -$7K and now BTC just stuck its toe in the $6K pool .... what does any sane rational person truly expect to happen here ? 
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Exactly. Quoted:
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We are getting to the point of a death spiral. If this keeps up it will be all over but the shouting (and fraud investigations, class action lawsuits etc). Really disappointing to see my money evaporate but I knew the risks and accepted that I would either make a lot of money or never see my initial investment ever again. I saw this coming a few weeks ago, even mentioned it in the larger crypto thread. Would have made a tidy profit if I had sold then. Oh well, plan is to hodl for the next 11 months or so. Will sell then (if there is anything left to sell or even exchanges to sell it on). I'm not encouraging anybody to try to time the market or day trade it - but there's an awful lot of captains who seem determined to go down with the ship for no apparent reason, except so they can post HODL memes on the internet. You could sell now, and re-buy it on the upswing. What are the transaction costs? |
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Quoted: The question you should be asking, is what's the Downside. You could sell now, and re-buy it on the upswing. What are the transaction costs? |
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I know a guy who bought all of the WorldCom stock he could and urged his grown children to do the same when WorldCom stock was at $0.25 per share.
He said, "Even if they liquidate the WorldCom assets, it will be worth more than 25 cents per share." It went to $0.00 and he is no longer considered a financial wizard in his family. I'm not either, and I have no dog in the race, but I think Bitcoin could go all the way down to $0.00. What's to stop it? |
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I don't understand how a bunch of tether can affect bitcoin. They aren't linked, so what is the relationship that ties them (other than any other altcoin to BTC exchange rate)? The only problem is, it's looking like tether had been fraudulently printing and selling tether without really being backed by USD. In effect running up the value of Bitcoin with a fraudulent and worthless crypto coin "tether". Basically buy and sell large amounts of Bitcoin without spending any real money. Then using it to "pump up" Bitcoin. |
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I don't understand how a bunch of tether can affect bitcoin. They aren't linked, so what is the relationship that ties them (other than any other altcoin to BTC exchange rate)? If you printed hundreds of millions in fake US currency and used it to Purdey side by sides, what do you think would happen to the price of those shotguns on the open market? |
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Shit, if I cashed to USD now I'd be at a 75% loss. I'm riding this to where ever. Buy and Hold is only a strategy if you own Companies like Exxon, which will remain profitable. If you own Crypto or Tesla, you are playing an entirely different game. It's your money, but you really need to understand the difference between Investing, and Speculating. The line is often somewhat blurred, but in your case, it's crystal clear. |
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Quoted: I quit reading after you mentioned illicit drug trade. That hasn’t been the case for a while. There are much better options being used. I don't know what the darknet markets have been doing for the past year but if those markets have moved on and BTC isn't integral to the illicit drug trade any more its value should have fallen even more than I expected it to after CA and several other states legalized. As you know it did not drop and there really hasn't been anything to give it additional inherent value since. Amazon and none of the other big retailers that were rumored to begin accepting it never did. |