Post: #126

An insane drop! Now the Bitcoin pizza is only worth $138,887,300:

Post: #127

Bitcoin hit a bearish pivot (orange candle):



I've sold everything, loaning out dollars at 0.3% on Bitfinex. Will have to see for the buy-back, maybe $8,000.

Post: #128

Damn...



Now all we need is a short upward spike, a horde of people crying out that it was never a bubble and that we are returning to 'normal', followed by an even harder crash (i.e. the bull trap).

So far, the bubble is mostly following the typical pattern:

Post: #129

This investor makes a good prediction last Tuesday.

https://www.cnbc.com/2017/12/19/early-bi...-boom.html

Quote:Tue, 19 Dec 2017

Bitcoin is a risky investment that could easily plunge 50 percent next week to levels seen only last month, said a former hedge fund strategist who is now a digital currency investor.

But Dan Morehead, founder and CEO Pantera Capital, predicted Tuesday that bitcoin in the long run is likely to spike much higher than current prices of about $18,200 per unit.

"For the big blockchains like bitcoin, ethereum and ripple, we're in the first innings of a multidecade thing," said Morehead, who bought bitcoin when it was at just $72. "And there's going to be some ups and there's going to be some downs, but we're still really early."

Blockchain, the technology underlying bitcoin and other digital currencies, is an anonymous, decentralized public log that records all transactions.

Bitcoin could be "down 50 percent next week ... where it was a month ago," Morehead said on CNBC's "Squawk Box."But in a year, "it'll be much higher than it is today."

Post: #130

I really enjoy watching bitcoin go down. Its nice when investment principals hold true, instead of raging speculation.

Post: #131

I hope it will further go down. Than i will buy, but other Cryptos.

Post: #132

Holy fuck. $11,000 right now.

Post: #133

At this rate, we won't need the crypto subsection in this forum anymore

Post: #134

(12-22-2017 01:35 AM)Thomas the Rhymer Wrote:  

Currently around 25% down:

   

Post: #135

Finally normies are getting their dose of the reality of crypto, easy come, easy go, the amount of tears im seeing in social media is delicious

Post: #136

(12-22-2017 09:36 AM)NewMeta Wrote:  Finally normies are getting their dose of the reality of crypto, easy come, easy go, the amount of tears im seeing in social media is delicious

Post: #137

The thing went so parabolic and now there is zero support until 4000-6000 even then not that much.

Also I'm glad all the cryptos are going down. The 'I'm moving my cash from bitcoin to alternatives as they have only gone up 1000% not 10000%' is so stupid.

Post: #138

As a HODLer I'm kind of relieved with this correction, if this thing had gone up like the last two weeks it would have forced me to sell some HODLings. I simply don't make enough money right now.

Now I can even buy the dip. After january 1st, the bull-run can safely pick up again. No need to worry.

Also, if you're gambling with shitcoins you will now have learned the hard way that alts dump harder than bitcoin.

Post: #139

   

Post: #140

(12-22-2017 10:09 AM)Maciano Wrote:  As a HODLer I'm kind of relieved with this correction, if this thing had gone up like the last two weeks it would have forced me to sell some HODLings. I simply don't make enough money right now.

Now I can even buy the dip. After january 1st, the bull-run can safely pick up again. No need to worry.

Also, if you're gambling with shitcoins you will now have learned the hard way that alts dump harder than bitcoin.

You sound like you have an attachment to it. I would much rather be forced to sell my holdings for a profit then hold on to them hoping that I can make more money.

That being said I probably wouldn't sell now there will probably be a relief rally that I would sell into. But then again thats technical analysis!

Post: #141

(12-22-2017 10:23 AM)Road_Less_Taken Wrote:  

(12-22-2017 10:09 AM)Maciano Wrote:  As a HODLer I'm kind of relieved with this correction, if this thing had gone up like the last two weeks it would have forced me to sell some HODLings. I simply don't make enough money right now.

Now I can even buy the dip. After january 1st, the bull-run can safely pick up again. No need to worry.

Also, if you're gambling with shitcoins you will now have learned the hard way that alts dump harder than bitcoin.

You sound like you have an attachment to it. I would much rather be forced to sell my holdings for a profit then hold on to them hoping that I can make more money.

That being said I probably wouldn't sell now there will probably be a relief rally that I would sell into. But then again thats technical analysis!

I guess you're right!

Post: #142

Bitcoin, the AOL of cryptos.

See you all at sub $1k levels while the better coins out there get thrashed to nothing.

Blood in the streets is the best time to buy, but there still isn't enough blood yet. When normies say cryptocurrencies are stupid is when i'll be buying in.

Post: #143

After the kinds of gains that came so quickly, 25% isn't much of a drop. This may be the start of the big correction we were waiting for, but probably not. Luckily for me, I don't own cryptos, so I don't have to put money on my guess.

Post: #144

(12-22-2017 12:45 PM)Laska Wrote:  After the kinds of gains that came so quickly, 25% isn't much of a drop. This may be the start of the big correction we were waiting for, but probably not. Luckily for me, I don't own cryptos, so I don't have to put money on my guess.

Yeah...but any investment that drops 20%~25%+ in one or even in a week should be considered with caution even if it is up 1000% compared to couple months ago.

Too much volatility is not good for any investment. It just means that people are just speculating and gambling.

Post: #145

(12-22-2017 02:28 PM)bgbusiness Wrote:  

(12-22-2017 12:45 PM)Laska Wrote:  After the kinds of gains that came so quickly, 25% isn't much of a drop. This may be the start of the big correction we were waiting for, but probably not. Luckily for me, I don't own cryptos, so I don't have to put money on my guess.

Yeah...but any investment that drops 20%~25%+ in one or even in a week should be considered with caution even if it is up 1000% compared to couple months ago.

Too much volatility is not good for any investment. It just means that people are just speculating and gambling.

I'd agree, except that the 25% drop isn't a problem, its a good thing. I'd say that the gains were the sole problem as far as price changes.

Post: #146

Big possibility of a bull trap coming up. Lets look and see if we get the falling top in the next couple of days.

Post: #147

Why is this particular drop different than any of the other 30%+ drops we used to have monthly?

Post: #148

(12-23-2017 09:50 AM)Road_Less_Taken Wrote:  Big possibility of a bull trap coming up. Lets look and see if we get the falling top in the next couple of days.

You called it. Looking like the 4-5k bounce off the 20k to 11k pullback was a bull trap.

Post: #149

(12-23-2017 10:33 AM)SamuelBRoberts Wrote:  Why is this particular drop different than any of the other 30%+ drops we used to have monthly?

Because you need more and more money flowing into the coins to support these ever higher prices. Not hard to support the price if bitcoin is trading for under $100 a coin. At $15,000 a coin its another story. If a less than proportional amount of money stops flowing in relative to amount of coins being sold or inflows slow dramatically the price crashes.

You also have Charlie Lee cashing in his entire stake in crypto essentially. When the whales change course it's usually time to head for the hills no matter you are trading. He already said its a bubble more or less. I think he is worried about regulation after the coming fallout and how it could affect the coins going forward.

Post: #150

I don't see the utility of crypto or blockchain as a long term solution aside from pure speculation. Here is a good article about this

https://hackernoon.com/ten-years-in-nobo...e98c180100