Wow. Bitcoin is almost $1,500

[Cal166]

Feel like this is a shakeout of all the sell limits? Almost all popular ones started bouncing back at the same exact time.

 

[Majes]

Worth buying in at under 10k? Or just keep avoiding it at this point?

 

[Zeze]

Worth buying in at under 10k? Or just keep avoiding it at this point?

One thing I learned is this.

No one knows. This is not a hyperbole.

No one knows. The entire crypto subreddits don't know. Everyone was clamoring that BTC was gonna break $20k by end of Dec and 30k-50k by feb/march.

Just buy what you feel is a bargain.

With US waking up, it's going back up now again. Or it'll go down again.

Again no one knows except insiders and whales. And none of us are either.

 

[Yakk]

Worth buying in at under 10k? Or just keep avoiding it at this point?

That would be called "catching a falling knife" in TA terms.

 

[DrMrLordX]

Is this the part where I get to say, "I told you so?"

Seriously if you still have any money on Bitfinex, Poloniex, Bittrex, or ANY exchange that deals in Tethers/USDT, get it out now. At least move it to a hot wallet until you can figure out what to do. If youi think I am FUDing then think that if you will. Personally I do not want to see anyone here experience stuck assets on exchanges that may experience "difficulties" in the near future.

edit: if you're trying to catch the falling knife, be careful. A lot of crypto - especially ETH - rose in fits and starts. Surge to 380, drop to 300, rise to 320-340, drop to 145, rise to 280-320, occilate there for awhile, and then up up up. It could do the reverse . . . fall, then rise a bit, then fall more, then stabilize, and then finally enter free-fall to a stable floor.

I will repeat what I said before, and that is that the only logical prediction I can make for the immediate future is that we should expect a retrace to Feb-July 2017 levels, which provides us with a wide range of values for tokens that existed back then and who-knows-what for newer tokens.

BTC should stabilize in the $1000-$2000 range following this model. ETH to $16-$200.

If the markets fare better than that, then hey, great.

 

[Zeze]

That would be called "catching a falling knife" in TA terms.

Is this your "I told you so." moment? Is this the end of crypto here today?

I mean, choose your "i told you so moment" carefully. Because this is not it. And this volatile joke of a market all went up 15% in last hour (wtf),

We can go back and forth saying "I told you so" at every dip and every new highs.

(this is a friendly banter in case you're missing the tone of my writing).

 

[DrMrLordX]

Something tells me there's more blood to be let here. Remember, this selloff is related to fears . . . once all the truth comes out (and it will), we'll finally know the full scope of the USDT situation. Then all the "real" money that followed that "fake" money into the cryptoverse, will have to rethink itself, since people entered the market on false present/future asset valuations.

 

[Zeze]

Something tells me there's more blood to be let here. Remember, this selloff is related to fears . . . once all the truth comes out (and it will), we'll finally know the full scope of the USDT situation. Then all the "real" money that followed that "fake" money into the cryptoverse, will have to rethink itself, since people entered the market on false present/future asset valuations.

Agreed. I'm all for cleansing anything sketchy or corrupted. Better now than later. Crypto market needs to become more mature - with regulations too.

 

[preslove]

Apparently, it's better to transfer from tether based exchange to another non-tether exchange, and then cash out to real currency bc if you take too much out of bitfennix, the real currency might not make it to your bank account.

Was this bit of news posted? https://techcrunch.com/2018/01/15/r...person-likely-drove-bitcoin-from-150-to-1000/

This is closer to straight fraud than tulipmania...

 

[Zeze]

This is closer to straight fraud than tulipmania...

How about blatant pump and dump? You go to jail for that crap in wall st.

Or how about a god damn exchange (Coinbase) pumping Bitcoin Cash to $9000 and conveniently DISABLE sell button while they do massive insider trading? Then it all crashed to $3000 after staying at a flat $9000 for mere 2 hours?

Straight up insane. I hope these people get retroactively prosecuted down the road.

 

[Yakk]

Is this your "I told you so." moment? Is this the end of crypto here today?

I mean, choose your "i told you so moment" carefully. Because this is not it. And this volatile joke of a market all went up 15% in last hour (wtf),

We can go back and forth saying "I told you so" at every dip and every new highs.

(this is a friendly banter in case you're missing the tone of my writing).

Hey.... I just said this a falling knife scenario from a TA perspective it's suicidal/gambling to even think to catch that knife at a low.

Some historical BTC perspective...

2011: peak $29.24, low $2.08, -93%
2013: peak $1100, low $192, -82%
2017: peak $19210, low...

That's just the way crypto rolls, it has it's own very particular trading style... were BTC to reach -100% it almost doesn't mean anything anymore. I'm thinking -85% but that's just my guess.

 

[Zeze]

Hey.... I just said this a falling knife scenario from a TA perspective it's suicidal/gambling to even think to catch that knife at a low.

Some historical BTC perspective...

2011: peak $29.24, low $2.08, -93%
2013: peak $1100, low $192, -82%
2017: peak $19210, low...

That's just the way crypto rolls, it has it's own very particular trading style... were BTC to reach -100% it almost doesn't mean anything anymore. I'm thinking -85% but that's just my guess.

I quoted a wrong person. LOL.

Anyways, I think there's something different about this dip because 2011 & 2013 were pretty unknown back then. But 2017... bitcoin had massive mainstream coverage & exposure. All the kids rushed in and bought in massive amounts at Q3, Q4 of 2017. And they're now all exiting.

The fad of mainstream BTC coverage seems to be over.

I personally don't expect Bitcoin to bounce back with a fierce force. It's just an old tech and outdated with near ZERO business use case.

I think Bitcoin will recover to the previous ATH (19.8K), but it will take its time. Then it'll slowly dwindle again to irrelevancy in next few years. And hopefully QUALITY altcoins with real products/partnerships/revenue start to be unpaired from Bitcoin and rise/dip independently.

What do I know.

 

[bigi]

Mysterious cryptocurrency co. buys out land around Tesla’s Gigafactory - https://www.teslarati.com/blockchains-cryptocurrency-buys-land-around-tesla-gigafactory/

Maybe it is getting more serious now. I'd say not maybe but for sure.

 

[SKORPI0]

going up...

Bitcoin$8,637.42
Ethereum$912.58
Bitcoin Cash$1,166.6
Litecoin$129.83
Ripple$0.8373



https://www.coindesk.com/information/

 

[Yakk]

I quoted a wrong person. LOL.

Anyways, I think there's something different about this dip because 2011 & 2013 were pretty unknown back then. But 2017... bitcoin had massive mainstream coverage & exposure. All the kids rushed in and bought in massive amounts at Q3, Q4 of 2017. And they're now all exiting.

The fad of mainstream BTC coverage seems to be over.

I personally don't expect Bitcoin to bounce back with a fierce force. It's just an old tech and outdated with near ZERO business use case.

I think Bitcoin will recover to the previous ATH (19.8K), but it will take its time. Then it'll slowly dwindle again to irrelevancy in next few years. And hopefully QUALITY altcoins with real products/partnerships/revenue start to be unpaired from Bitcoin and rise/dip independently.

What do I know.

Depends what the general population wants. An open platform, or a closed corporate type system. Judging by the Apple, Microsoft, Linux example people prefer to not have choice, so maybe a closed platform will prevail which would fully be under governmental control & tracking, like Facebook Coin. Or both will coexist for different parts of the globe.

Mysterious cryptocurrency co. buys out land around Tesla’s Gigafactory - https://www.teslarati.com/blockchains-cryptocurrency-buys-land-around-tesla-gigafactory/

Maybe it is getting more serious now. I'd say not maybe but for sure.

Timing seems perfect if this group sold at top to finance this.

 

[Genx87]

How about blatant pump and dump? You go to jail for that crap in wall st.

Or how about a god damn exchange (Coinbase) pumping Bitcoin Cash to $9000 and conveniently DISABLE sell button while they do massive insider trading? Then it all crashed to $3000 after staying at a flat $9000 for mere 2 hours?

Straight up insane. I hope these people get retroactively prosecuted down the road.

Do you have a link to this story? I havent heard this one yet.

 

[ponyo]

I'm looking for signs of stabilization and I don't see it yet. Risk plays like crypto and cannabis getting hammered.

 

[Zeze]

Do you have a link to this story? I havent heard this one yet.

I witnessed it first hand... it was like 6pm and fraud happened into 10pm-2am EST. And there was a big uproar too.

Oh my god, I looked at BCH price history in Coinbase. They 'deleted' that $9000 spike LOLOL WTF??? All-time high of BCH is $3400, WOW.

That. is. straight up FRAUD. By an exchange. And not just any exchange, US' biggest fiat-entry exchange.

https://www.coindesk.com/coinbase-massive-buy-demand-caused-bitcoin-cash-launch-hiccups/
https://www.cnbc.com/2018/02/01/bit...ears-crucial-make-or-break-level-of-9000.html

I'm gonna call this out on reddit. These scammy fackers.

 

[zinfamous]

Mysterious cryptocurrency co. buys out land around Tesla’s Gigafactory - https://www.teslarati.com/blockchains-cryptocurrency-buys-land-around-tesla-gigafactory/

Maybe it is getting more serious now. I'd say not maybe but for sure.

This is the kind of thing that the AT lotto group members would have done if we won one of those stupid lotto buy-ins. Would have been epic. All that land, we could have built a bulk-beef factory, Diesel jeans import and distribution warehouse, and an interactive oldsmoboat basement, among other curiosities and profitable ventures.

 

[Ns1]

This is the kind of thing that the AT lotto group members would have done if we won one of those stupid lotto buy-ins. Would have been epic. All that land, we could have built a bulk-beef factory, Diesel jeans import and distribution warehouse, and an interactive oldsmoboat basement, among other curiosities and profitable ventures.

I hope to one day open up a BBQ joint called "OMG WTF BBQ"

 

[Zeze]

This is the kind of thing that the AT lotto group members would have done if we won one of those stupid lotto buy-ins. Would have been epic. All that land, we could have built a bulk-beef factory, Diesel jeans import and distribution warehouse, and an interactive oldsmoboat basement, among other curiosities and profitable ventures.

Wow, another memory of AT - lotto group buys. They were awesomely fun + everyone really trusting the organizer (was it Vivimage).

RIP ATOT.. truly a shadow of former self.

 

[ponyo]

I still haven't funded my Coinbase, GDAX, and Binance accounts. I have money sitting in my checking account ready to go but haven't transferred over because I just don't fully trust the exchanges with my money. I'm not scared of crypto volatility but rather the exchanges. I'm just not that confident these exchanges are not going to screw me when time comes.

 

[Zeze]

I still haven't funded my Coinbase, GDAX, and Binance accounts. I have money sitting in my checking account ready to go but haven't transferred over because I just don't fully trust the exchanges with my money. I'm not scared of crypto volatility but rather the exchanges. I'm just not that confident these exchanges are not going to screw me when time comes.

I don't trust Coinbase & GDAX (same company).

I trust Binance just fine.

A great fiat-entry exchange alternative is Gemini (owned by Winklevoss twins of FB). You may want to at least sign up and get verified in advance so it's not a bottleneck. Their verification took 43 days for me (I just got cleared last week).

 

[AdamK47]

I see crytocurrency is trending in the right direction today.

 

[fleshconsumed]

You know, if you assume that bitcoin started it all, the crypto/blockchain markets are 9 years old, almost a decade. An eternity really in technology space. Up until recently it was all games, fueled in part by bitcoin believers, hobbyists, libertarians, gold bugs, or crazy speculators looking to get rich quick. However, in the last few years we've seen multiple projects created aiming to solve actual real world business problems by using blockchain. I think we're in the midst of transformation. The next 1-3 years are going to be transfigurative. I think we'll see a lot of coins without real world application fade into obscurity, but the ones that solve actual business problems will thrive.

Guys, I think we're maturing. I think time for pump and dump get rich quick schemes is coming to an end. It's quite likely that the next google/amazon/facebook of blockchain is already out there or about to be born shortly. If you ever regretted not picking up apple, or google, or facebook, or amazon, or netflix, or tesla, or microsoft stock when they were just little companies looking to make their mark in the world, now is your chance. I do believe that blockchain tech is going to be transformative, and it's time to change your strategy. It's time to hop off the crypto gamble investment wagon, and start looking for the next google of blockchain. It's time to actually start researching the crypto projects in the hope of finding the next gem that will go the distance. It's time to start investing smart instead of hopping on the crypto bandwagon hoping the rising crypto market will lift you up too.

But hey, that's just my opinion, what do I know?