Wow. Bitcoin is almost $1,500

[SKORPI0]

A few minutes ago.

https://www.investing.com/charts/cryptocurrency-charts (live cryptocurrency chart).

 

[IEC]

I mean, even Ars Technica is picking up on the Tether story...
https://arstechnica.com/tech-policy...ency-is-worth-2-billion-but-its-audit-failed/

Only a matter of time before the house of cards collapses.

 

[repoman0]

Pretty soon the thread title is going to be accurate again! (from the other direction)

 

[UncleWai]

 

[IronWing]

It's like we're relearning all the lessons of 17th through 19th century banking in a three year month crunch.

Fixed that for me.

 

[destrekor]

China total ban news broke the triple bottom formation. Ugh.

 

[Crono]

Reminder that the Senate cryptocurrency hearing is tomorrow (10AM ET, with live stream) with SEC and CFTC testifying.

Unauthorized use of my likeness

 

[Ns1]

China total ban news broke the triple bottom formation. Ugh.

daaaaaaaaaaaaaaaaaamn

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).

 

[Hugo Drax]

The less greater fools available to buy the faster it goes down. Banning of creditcard purchase just cuts a chunk of degenerate gamblers who were big fools trying to borrow money at 28% in the hopes of getting massive returns. not looking good for the greedy folks who had good returns and chose not to cash in that winning lotto ticket. I see it crossing 5000 by next week.

 

[AdamK47]

Vanguard index funds are looking pretty sweet right about now. Buy on the dip and ride it out long term.

 

[Crono]

Vanguard index funds are looking pretty sweet right about now. Buy on the dip and ride it out long term.

I wonder if real estate investors take the same smug approach stock investors do to crypto investors. If they don't now, they certainly did before the stock market matured with more regulations and investment vehicles like index funds.

 

[Hugo Drax]

Updated my price target I see bitcoin 3800 or less in 10 days

 

[IEC]

I wonder if real estate investors take the same smug approach stock investors do to crypto investors. If they don't now, they certainly did before the stock market matured with index funds.

*snicker*

Buying near ATHs after massive rallies is a risky proposition at best. For any investment or asset.

 

[Crono]

Updated my price target I see bitcoin 3800 or less in 10 days

My pure guess is and has been for a few months now is ~$6,500 as the more realistic value of 1 BTC. This year is just going to continue to be chock full of regulations, security breaches, and corrections, and we won't see cryptocurrencies back on slow rise until summer. There are a lot of developments in terms of actual improvements to blockchain tech, enterprise deployment, etc, but regulatory and security issues as well as hype-fueled overinvestment by all the new people entering the market means this rough patch was inevitable.

 

[AdamK47]

I wonder if real estate investors take the same smug approach stock investors do to crypto investors. If they don't now, they certainly did before the stock market matured with more regulations and investment vehicles like index funds.

Anyone deserving to be smug should absolutely exercise their right at being smug.

 

[Crono]

Anyone deserving to be smug should absolutely exercise their right at being smug.

Ah yes, the internet way.

 

[JM Aggie08]

<music>How low, can you go? How low, can you go?</music>

 

[ponyo]

So no one is buying here? $7k. If I was playing the crypto market, this is where I would try to catch the falling knife for a dead cat bounce trade.

 

[preslove]

So no one is buying here? $7k. If I was playing the crypto market, this is where I would try to catch the falling knife for a dead cat bounce trade.

$7000 is still a lot of money for a digital beanie baby. Lots of room to fall before it's a dead cat

The credit card bans are going to really hurt crypto maniacal increases. Buying on margin makes sense when a market is increasing like it was. China news is bad.

This could just be the beginning of a death spiral https://www.forbes.com/sites/kenrap...hina-have-all-turned-on-bitcoin/#4a7d91f695ca

 

[Red Storm]

So no one is buying here? $7k. If I was playing the crypto market, this is where I would try to catch the falling knife for a dead cat bounce trade.

I may get more VEN if it drops low enough. No interest in trading BTC.

 

[ponyo]

Charlie Lee of Litecoin might be the Mark Cuban of the cryptomania. Dude timed his cash out exit pretty well like Cuban.

 

[ponyo]

$7000 is still a lot of money for a digital beanie baby. Lots of room to fall before it's a dead cat

The credit card bans are going to really hurt crypto maniacal increases. Buying on margin makes sense when a market is increasing like it was. China news is bad.

This could just be the beginning of a death spiral https://www.forbes.com/sites/kenrap...hina-have-all-turned-on-bitcoin/#4a7d91f695ca

This decline is still pretty orderly. We haven't had full blown panic yet. It's going to get real ugly in a panic and I don't see how people will be able to get out once that happens. Nothing drops down to death in straight line. There are still too many bitcoin and crypto believers out there for it to die overnight. There's still too much money to be taken for it to die straight death. Most vicious rallies occur in context of bear market. The type that will bite your head off. It's going to bounce and it's going to bounce hard somewhere. The fun is trying predict and catch that bounce before the next leg down.

I may get more VEN if it drops low enough. No interest in trading BTC.

So at what price level is VEN low enough? Just curious

 

[Red Storm]

So at what price level is VEN low enough? Just curious

In the ~$2 range.

 

[njdevilsfan87]

Waiting for Bitcoin to be almost $1500...

 

[preslove]

This decline is still pretty orderly. We haven't had full blown panic yet. It's going to get real ugly in a panic and I don't see how people will be able to get out once that happens. Nothing drops down to death in straight line. There are still too many bitcoin and crypto believers out there for it to die overnight. There's still too much money to be taken for it to die straight death. Most vicious rallies occur in context of bear market. The type that will bite your head off. It's going to bounce and it's going to bounce hard somewhere. The fun is trying predict and catch that bounce before the next leg down.


So at what price level is VEN low enough? Just curious

I get what you're saying, but most assets don't suddenly get banned from being traded by the 2nd largest economy in the world and a big source of capital (credit cards) on the same day. The senate hearings on crypto are coming soon, too. The bounce could take a while to come, and it could be small.