There is a sea of red https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD&.tsrc=fin-…
Musk is tweeting Bitcoin is too high.
I put all my savings in Bitcoin because someone here said it was a value store. /s
But seriously why is it crashing this time?
Inb4 buy the dip
Charles is so slooooooooooooooooooooow.
In the next few months. You will see how extremely fast he can go.
because crypto holds no value, it's just another quick way to grab cash. you really believe the people that "invest" in it care about crypto? lol no.
This might light things up….if it even happens.
https://www.dubailad.com/dubai-businessman-plans-biggest-bit…
A Dubai businessman is pledging to buy 100,000 Bitcoin worth up to $4.8 billion as part of a new company strategy.
To put that into perspective, it’s the largest investment of its kind in the world. And he’s planning to buy up roughly a quarter of the entire Bitcoin currency worth $17 billion.
Long term investment
Bag holder?
I think bitcoin is a stupid 'value store' and an even more stupid investment. However the worlds criminals ensure that it will never be worth $0. If you get caught the authorities can't freeze or confiscate your assets, they can't trace the money trail to catch your associates, once you get out of jail you can just unlock your wallet and live off your ill gotten gains. It's great for them. For that reason there will always be an intrinsic value in bitcoin because their is heaps of money to be made being dishonest and I'm sure at least a proportion of it would be put in to bitcoin. Even if the entire mainstream world stopped accepting bitcoin, there would still be a criminal out there who would be more than happy to accept your bitcoin. Also for that reason I also find it morally dubious to put any of my own money on it.
A bit 🧂 there. Did you get REKT?
Not salty. Have never made or lost anything on digital currency. Just the truth. It will always be worth something because it's the greatest thing since Swiss bank accounts for the dodgy amongst us. Why do you think almost anyone doing anything illegal online nowadays demands to be paid in digital coin?
Bitcoin is as valuable as plastic bank notes. As long as somebody will let you use it for spending or exchanging for another currency then all is well. The relative value of both is related to many other factors around the world.
Because of CNY, if you look back at the previous years Bitcoin has always crashed or has been slow around feb-march then pumped in April. All the Chinese miners leave their farms to go off to holiday for 2-3weeks, they come back and dump their BTC on the market.
I generally speaking agree with OP that bitcoin is a fairly useless asset and using the term investment when it comes to it is not reflective of what it is.
But the absolute stupid absurdity of the title makes me think OPs opinion is also fairly useless and putting any faith in OP would be foolish. Anyone calling what's happening to bitcoin right now a crash can be safely assumed to have learning difficulties.
On the more core concept of Bitcoin: it's pure speculation. It's value is only what we say it is and in an even truer sense than most things we say that about. But one of the wealthiest men on the planet is so largely because of the speculative value of Tesla. Tesla doesn't really make money. It relies on subsidies to do so and makes little even then. And yet it's valued at approximately an infinite times more than the money it earns. It's pure speculation - Tesla will be a thing in the future and we're getting on board early, to the point we're overvaluing the stock by like 100-1,000x.
Bitcoin will probably fail at some point. But then so will Tesla. The question is when and when is the time to make that bet.
If an asset that is moving due to a guy who isn't even in the same field's (Elon) comments I'd stay away. How is it different than taking stock tips from taxi driver or shoe shine boy?
Elon says over priced on a free platform, giving free financial advice. He didn't make billions giving free advice. Either he is moving the market and entering himself or something else is going on. It is just billionaires gaslighting regular people. Look at how many people like Rob Dalio etc give so called free market commentary.
If you were a billionaire and making good money why do you give away good actionable advice to a mass of strangers?
Elon is currently the king of bullshit speculation in all things. Tesla does not make money. But his holding in it makes him Top 3 richest men in the world. Space X does not make space flight cheaper, but for some reason everyone thinks it does. The Hyperloop is a garbage impractical concept that will either disappear or be re-framed as regular normal high speed rail and pretend like that's what he meant all along. His city tunnel concept is possibly the dumbest idea of them all, impressively beating his Hyperloop.
Don't just not trust Elon on crypto. Don't trust Elon.
He's a big showman that uses his personality to make money off people who speculate. He sells the dream. Not reality, not today anyway.
… which is why it is a mistake for him to buy into bitcoin, he did it knowing his own announcement would make it spike and make easy money…
but he's clearly either not realised the environmental impact and energy waste of bitcoin is massive (in which case he is not a competent CEO to run a supposedly environmentally conscious enterprise (that gets proper advice before he acts), that shoots from the hip with $1.5 billion regardless of investigating the environmental footprint of the organisation he is supporting (which should be a priority), or it's revealed he knew or was advised of its huge environmental cost but he's really just in it for the money - not to change the world for environmental good as he claims… and that therefore has made him a hypocrite among true environmentalists which are part of his support base (along with the speculators).
Elon doesn't care about the environment. He cares about fame and money. If you didn't care you would have stopped way short of a billion
My wife did a group assignment last year with a Tesla employee who works in close proximity to Elon. It's obvious but Elon is not fun to be around. He doesn't sleep and fires anyone at a whim. One poor guy made the mistake of being in the bathroom the same time as Elon and soon found himself unemployed.
All billionaires are eccentric in one way or another.
When lambo?
Bloody noobs!
Dogecoin 4 lifeeeeeeeeeeee!
To Mars baby 😝😝😝😝😝😝😝
Because Dodgecoin.
Why is Bitcoin Crashing
I don't know, but I find that in these cases turning it off and on again usually fixes the problem.
There is no such thing as on and off. It works 24/7/365.
Or call bitcoin help desk.
I tried calling Satoshi but the line is dead.
Maybe people are buying it like they are owning a piece of art from a dead artist.
buy high sell low is the motto
yeah yolo why not
YOLO HODL! Never sell.
Probably a pull back but also macro events. Thread explains whats going on.
https://twitter.com/krugermacro/status/1364576990708322307?s…
TL:DR Low interest rates caused speculative assets to pump. Reflation is kicking in which isn't good for speculative assets. Need the Fed to do yield control to cap bond yields for more asset price pumping
Bear in mind, there are thousands of crypto currencies. I keep getting bombarded with offers such as free $500 up front. All they need to do is turn off or even let alone block the website and gone is all!!
that's why you keep the currencies in your wallet and not on the exchange…
time to short btc, to the moon.. i mean down 2 uranus
F2Pool miners unloading BTC for their futures position.
Bitcoin has gone from 4k to 57k in less than a year and now some people are whinging about dipping to 47k?
It's called a healthy correction.
Let's assume there is such thing as a healthy correction.
What makes a correction healthy?
Why is this a correction?
If it is a correction, what is the correct value of Bitcoin?
What is an unhealthy correction?
What is Bitcoin?
Synonym for mirage and greed.
Timothy 6:10:
"For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs."
Apparently 18% reduction in 'value' is a healthy correction?
Its actually not a correction. A correction implies that Bitcoin provides some intrinsic value and has been oversold compared to that projected value/growth. The problem is Bitcoin has no value at all. Its a pump and dump scheme. As soon as people start dumping others start suffering. Simple.
An unhealthy correction are called pump and dump. E.g GME, Dogecoin and STMX are the most recent ones.
Anything > 10 percent is not technically a correction.
few
Yep. Don't be dragged into a pointless debate with no coiners.
If i don't reply to them, they are not worth my time.
It's healthy when you buy it at its corrective low point.
Good luck if you believe any hyperbole about healthy and non healthy correction. There's no such thing, it's just human psychological spin that's helps to sell media and subscriptions.
Bitcoin not crashing. But Teslas do.
time to buy. don't regret again!
just broke 46000 down… maybe 40000 by Monday
about to break 45000…. maybe 40000 tonight not Monday
12hr candle shows good support at 44000 0.5 fib.
https://nimb.ws/NJIRTH
There is a high probability that it may start trending up in the next few days.
https://beincrypto.com/63100-btc-options-expire-on-friday-26…
Thanks.
Rapidly approaching 44000.
Hope its not a Candle in the Wind
@IanC: The DXY going up pushes the SPX and BTC down. Let's see what happens on Monday 09:30 EST.
https://nimb.ws/9rUhXO
https://nimb.ws/ek21Op
I see downside to 42k-43k possibly then most likely bounce from there. I hope it bounces earlier though don't get me wrong.
Seeing a bullish divergence on the 4 hourly. Could be interesting. CME futures expiring in a few hours too.
more like f2p dumping 14000 BTC in a day
Before, they were selling 200 - 300 per day, now it's 15k per day
Before, they were selling 200 - 300 per day, now it's 15k per day
F2Pool isn't selling 15000 BTC per day. Only 144 blocks can be mined per day which works out to be 900 BTC p/d, 6300 BTC p/w and 25200 BTC p/m (28 days).
P2Pool is probably mining ~162 BTC p/d which means that they sold ~92 days worth of mining.
14,000 BTC transferred out today. Not sure how much they are dumping but it's not pretty. F2Pool have massive reserves. They barely sold any in the months before.
Why down. Only up
Lol crashing to 2 week lows…
Answer this - why is Bitcoin worth more now that a month ago, or a year ago?
Pump and Dump if you disagree state your answer to your own question.
It was kind of rhetorical but I guess that moment has passed.
I would go with bubble over p&d
Goes up 1000%+ in a year, a 25% correction and no coiners loses their minds like Peter Schiff. Have you not invested in anything before?
Even my Tesla ($800 to $650) and Afterpay ($152 to $120 this week) shares are correcting after a parabolic year. Who cares? Take profits along the way and hodl some of them. It's not rocket science.
Bag holders want more to buy in to get out.
US printing money like there is no tomorrow. Crash makes zero sense.
How are you linking the USD with bitcoin.
How much are you down?
I already explained the link between a weak USD and rising BTC and you replied by calling me inconsistent.
When I asked exactly what I was being inconsistent about, and pointed out the biggest inconsistency is you calling it a crash for days despite the price hovering around 60k AUD - no reply.
@deme: I literally had to chase you to another comment reply because you didn't reply to the other comment I made where I already explained the link between weak USD and BTC.
Rather than answer questions when people point out how BTC illiterate you are, you just keep doubling down on your BTC and world event illiteracy.
So please, answer the questions rather than doubling down on how illiterate you are.
@studentl0an: Explain how Bitcoin works as a reply to this comment.
I'm am yet to find a coinboi that can do it.
@deme: From my previous post that you didn't acknowledge:
"The value is in the ledger being stored across the blockchain. No one can print more and fudge the books like they are doing with currencies across the world. There is no inflation or quantitative easing.
The value is in how valueless world currencies that are not based on any commodity or resource are. The USD isn't backed by gold, or even oil really anymore. It's backed by the fact it's THE world currency and very few want to rock the boat by saying they have 0 faith in that system. When the federal reserve printed 25% of the ALL USD in circulation just in 2020 - many people are starting to wise up to the fact the USD may as well be monopoly money. It's just a lot of people have faith in it which is why it has value (that is slipping everyday). There wasn't a 25% inflation rate, nor was there a 25% decrease in the amount of labor that USD could purchase. So where is that devaluing of the currency? Really, I'd like to know.
Apart from speculation, the driving force behind the value of BTC is how people can see the man behind the curtain of world currencies fudging the books to maintain corporate welfare, while devaluing the cost of labor.
Is BTC massively overvalued? Most likely. Is the USD? Most likely too."
How does BTC cryptography work:
https://www.youtube.com/watch?v=bBC-nXj3Ng4&
The fact you don't even read the comments in your own thread, or do the basic research yourself is quite telling. Your comments are dishonest and grifting. I think it comes from a place of jealously.
@studentl0an: No need to resort to personal attacks.
You still didn't explain how Bitcoin works, you just linked to a YouTube video.
@deme: That video breaks down BTC cryptography so that even a luddite like yourself could learn how it works.
Rather than learn something new, you just keep making grifting comments.
It's sad, really. Good day.
@studentl0an: Mate I built and sold ethereum mining software in 2015-2017, it avoided all the overhead of a host os for performance. I know how this shit works.
Bitcoin is terrible.
It's not the cryptographic primitives that make it shit, it's the difficulty of proof of work, public transactions that requires money laundering for the most basic of transactions to be semi private.
@deme: So you are a grifter, thanks for the confirmation.
This topic should be deleted for spam then.
Cardano baby.
the next pump and dump
Bitcoin is crashing, and will continue to crash despite minor fluctuations as shorts cover their positions. It us extremely volatile and driven entirely by speculation with no fundamental properties. There is little difference between this and the roulette table.
https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD&.tsrc=fin-…
Down down Bitcoin is down.
Imagine being a bag holder.
lol. bag holders are happier than you think. it was 30k at the start of the year..
What did you buy at?
Got in BTC at 6k. Cardano $15c. But at least I don't pretend it isn't a speculation.
@tomleonhart: Your average cost of your holdings in BTC is $6k or you got in at $6k for your first holding?
@deme: I got in at 6k. Got money to throw around. But I cashed my capital out now, left profit to see how far s**kers will push it up. 🤷🏼♂️
Even if it got to 500k it still won’t change my life.
nocoiner barks like a dog ;)
Its because ADA is going to the moon 🚀🚀🚀
Hello fellow ADA holder. Staked yet ?
Not yet
Two more months and it'll be worth 30c
Or maybe it will be worth $5
I think 70% of ADA is staked so trading volume is limited
Could be $50000 in 10 years or 0
Who cares…. Buy cardano.