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Bitcoin crash coming (1 Viewer)

HaRDHouSeiNC said:
Yah I was all over 150 in 2019-2020
March Covid dump prices omg
Insane good buy
Click to expand...
If only I would have known about it. Should have listened to the guy that sat behind me in 2017 or 2018 in my English class when he was talking about Bitcoin. I would have found that, then ETH and who knows what else.
 
DrStrange said:
Dreams of potential past performance of bitcoin are pointless except for the pleasure of mental masturbation. The relevant questions revolve around current values and likely future valuations.

While it is entirely possible that crypto coins are exceptionally cheap today, that is in no way obvious. I don't see people in this thread lining up to buy crypto at current prices.

I am not a buyer nor a holder of any crypto assets. Of course, I am old, ignorant and stupid yet somehow still have plenty of fiat money which buys me anything my heart desires. Could be I am going to be proven wrong? We will have to wait and see. -=- DrStrange
Click to expand...
@DrStrange knows, don’t let him fool us!
1653365476738.gif
 
DrStrange said:
s. I don't see people in this thread lining up to buy crypto at current prices.
Click to expand...
People said this with $5k BTC / $150 ETH as well

If I had piles of cash ready to invest I’d be seriously watching to buy in more blue chip crypto over the next year
I’d say there is still a small chance of another price run up but given the markets getting hammered and rates going up and a teetering housing market I’m gonna guess a big run before the next cycle now is getting slimmer.
 
HaRDHouSeiNC said:
People said this with $5k BTC / $150 ETH as well

If I had piles of cash ready to invest I’d be seriously watching to buy in more blue chip crypto over the next year
I’d say there is still a small chance of another price run up but given the markets getting hammered and rates going up and a teetering housing market I’m gonna guess a big run before the next cycle now is getting slimmer.
Click to expand...
If you had piles of cash, at what bitcoin and ethereum prices would you start buying?

Any other cryptocurrencies you like?
 
khp said:
If you had piles of cash, at what bitcoin and ethereum prices would you start buying?

Any other cryptocurrencies you like?
Click to expand...
BTC
ETH
ADA to speculate
Maybe a few others

I’m not a financial advisor
I bought my BTC for $500 and $200 ETH

ITS selling off
Dollar cost average monthly a small ammount
I’m not a financial advisor


Stocks cratered today too
Over the past year we’re getting wrecked on stocks as well
Down over 25%
1655094536838.png

It’s all semi connected and crypto always more volatile
See March 2020 Covid and post 20k pump below 5K then rebound

Probably some market manipulation too for the wales to load up their bags

I’d still have a small crypto portfolio and add on during a sell off
Next cycle should see record pumps post 2024
 
Last edited:
HaRDHouSeiNC said:
BTC
ETH
ADA to speculate
Maybe a few others

I’m not a financial advisor
I bought my BTC for $500 and $200 ETH

ITS selling off
Dollar cost average monthly a small ammount
I’m not a financial advisor


Stocks cratered today too
Over the past year we’re getting wrecked on stocks as well
Down over 25%
View attachment 930401
It’s all semi connected and crypto always more volatile
See March 2020 Covid and post 20k pump below 5K then rebound

Probably some market manipulation too for the wales to load up their bags

I’d still have a small crypto portfolio and add on during a sell off
Next cycle should see record pumps post 2024
Click to expand...
At what prices for Bitcoin and ethereum would you deviate from your small monthly purchase and change it to a medium or large purchase?

@steam noticed you’re in the thread, and I think you’ve done well with crypto. Any specific ones you like at today’s prices?
 
I don’t think btc needs to go to zero to kill the ecosystem. Anything uninteresting like 5k is effectively zero. Can certainly still be used to move value out of China, launder money, or bring into Vegas. If btc hits 5k all the shitcoins will be zero. Rip Axie Infinity :ROFL: :ROFLMAO:
 
I should register GTZ.com as the next crypto exchange platform that will take your dirty centralized fiat money, give you some randomly large number of fraudcoins (FRDC)... and that’s it. No withdrawal button, but oh it will offer 50% annual interest on your FRDC!!!
 
The funny thing about crypto and similar pyramid schemes is that even if a huge proportion of them started having doubts they’d never say it publicly. It’s part of their bro code. It’s in everyone’s interest to just pretend as if everything is going as planned.

https://www.nasdaq.com/articles/wal...lining-up-to-predict-bitcoin-will-hit-$100000
Launching a new crypto fund? Be sure to make a bold prediction.


Alright so your predictions sucked balls. Completely divorced from reality. May as well just be throwing darts at a board, and one happened to hit the bullseye early. Ride the wave bro. Just make even bolder predictions over such a huge time frame that nobody will be able to find your original prediction if it fails.

https://cointelegraph.com/news/ex-bitmex-ceo-explains-how-bitcoin-will-hit-1-million-by-2030

Include a graph, use phony technical terms like “candlesticks” … lol it doesn’t matter the people buying this shit are financially illiterate.
 
Stufflymcstuff said:
Include a graph, use phony technical terms like “candlesticks” … lol it doesn’t matter the people buying this shit are financially illiterate.
Click to expand...
Probably not entirely the case but certainly I think a disproportionate number of financially inexperienced (but optimistic) retail investors are the ones left holding soggy bags. Tom Brady and various institutional funds got hosed too.

I think if SBF can claim less than 24 hours before all this happened that “everything is fine” and confidence is a huge part of the crypto ecosystem (house of cards built on other houses of cards), then I think it jeopardizes the confidence investors have in anything else proclaiming to be “just fine.”

A month or two before Do Kwon’s Luna/Terra collapsed, debatably triggering this whole shitfest, Bloomberg was writing articles about how everything he touches turns to gold. Now he’s in hiding from Interpol and giving interviews to the fraud Martin Shkreli.
 
Stufflymcstuff said:
it doesn’t matter the people buying this shit are financially illiterate.
Click to expand...
I wouldn't call people buying crypto financially illiterate, but I feel like crypto has gotten a bad name because there are so many people jumping into it randomly. They are riding the wave and these "pump n dumps" or hype coins making quick money and then selling everything.

For those that are actually trying to understand it and how it works is completely different. I don't think countries around the world like El Salvador or Brazil and more would be buying crypto, especially Bitcoin, if they didn't think it was going to help out in someway and get them out of a horrendous hole that they are in now. There are countries out there that their economies are terrible, but there is a possibility to get back onto a level playing field if crypto was used.

"41% of Brazilians own cryptocurrency. 45% of the people in this country say they plan to purchase crypto coins because their traditional currency has devalued against the U.S. Dollar."

"Indonesia ties with Brazil at 41% of its nation having cryptocurrency holdings."

"30% of the people of Singapore have crypto coins."

"About 20% of Americans own cryptocurrency. Approximately 40% of them perceive it as an inflation hedge"

"The UK owns 18% of the world’s cryptocurrencies. "

Do any of those quotes starting ringing a bell? I'm not sure if they will if you aren't on the side of crypto, but it just shows that countries where their economies have gone so far south are trying to get out with the help of crypto and a decentralized currency so everyone doesn't have to live without money.
_________________________________________________________________________________________________________________________________________________________________________

I've bought tons of crypto and in the last year/two I basically threw every cent I could at it. Over the last few months I've only bought a few hundred because I've had to deal with school payments for this semester and then trying to save up for the next coming semesters.

Am I up on my crypto? Probably not...
Was there a point where I had seen more money in my accounts than I had ever imagined to have at the age of 21/22? Yes.
Do I believe that crypto is a Ponzi scheme? No.
Do I believe that there needs to be more transparency or regulations? I'm leaning more towards yes.
Are there people jumping into crypto thinking that they will "get rich quick"? 100%

That last question is the same thing as AMC and GME during Jan. 2021. People literally heard of something like AMC and GME, "We are going to make SO much money! Let's all get into it and all buy this until we all go to the moon!" The same thing with those that have no idea about crypto and are still trying to do the same thing in the stock market. How many of those original people that bought into AMC and GME are still around? I have no idea, but I have a feeling that a large number of them sold out with major losses or they made some money and just spent it all because its money that they didn't really need to work for. I made some money with AMC last year, not a whole lot, but a few hundred. I did not buy or trade GME. Was I in the markets before then? Yes. Am I still in the markets buying and trading everyday? Yes. I'm trying to learn how to get myself to the next level and if its possible to learn how to trade options and make a consistent side income that could turn into a full time thing then that would be amazing...

I have money locked in Celsius and Voyager. I don't have an FTX account and I'm hoping that no other exchanges have to freeze withdrawals because they can literally do it at any moment they want. It happened with Celsius and the same with Voyager. Had I known that this was going to happen I would've pulled everything offline onto my Ledger so I don't have to worry about anything. I know that there are people that have money that is life changing sitting in those accounts and they don't have access to them currently and have no idea if they will ever get it back.

We can't call those that invest into crypto financially illiterate. There are millionaires/billionaires around the world that have bought crypto and continue to buy it. I'm not sure if that has any meaning, but to me it feels like there are people around the world that still believe in it. With all this news coming out, does it mean that those in crypto need to take a step back and maybe look at some options on how to better protect themselves? Yes. If you have the funds and want to protect yourself while keeping your money safe, then invest in a Ledger or some type of cold storage wallet. It will literally change your life if any of these exchanges go under. You will not lose your money, only if you sell it... Same thing as stocks.

I'd like to think I am financially literate and doing pretty well for someone my age. I'm proud.
 
Re: okku

the debate isn’t whether it’s useful and trying to explain why it is , is to not be looking at it correctly. The issue is price. And projecting price is a nightmare for people who have highly sophisticated tools, years of experience, and huge success trading.

It’s not an indictment of someone’s intelligence to say that you may have no useful insight into something that’s incredibly difficult to price where people who spend their lives studying these things who disagree on it to a massive degree.

And even the well researched bulls aren’t throwing all their discretionary money into it. Because it’s hilariously imprudent to have a large chunk of your net worth in something so volatile and speculative.
 
Zero
Lol

I love the panic sellers

If you bought BTC two years ago at 4000 you are up 4x in two years NOW

If you sold at the peak more like 40x

This is the longest ponzi in history that isn’t a Ponzi at all
It’s small for sure and easily to manipulate

Wonder what it’s called when BTC is 10x again in 3-5 years
Side bets???
 

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