/biz/ - Business & Finance

>>10130449
It's called a short squeeze.

Leveraged shorts with stop orders (orders that automatically buy back coins and return them to their lenders at a particular price) go off when big buyers purchase enough to up the price to their stop level.

The coins purchased at those stops then further increase the price, hitting other stops in a cascade that continues until all the stopped shorts are cleared. The buyers who started the squeeze then sell to delusional bulls overcome with FOMO during the high volatility period after the squeeze.

Take a look at the volume chart, not just the price one. It's all pretty obvious from there.

>>10103521
It's anonymous money for deeply illegal crimes. Very easy to use it to buy contraband, very hard to turn it back into real money. Avoid if you're not a drug dealer.

>>10078792
Think about that: $800 billion. Total world wealth is figured at $280 trillion.

If bitcoin became the sole currency on earth, all fiat and all the altcoins go up in smoke, it would only increase by another 350x its ATH. And how likely does that sound?

At the peak it was up 200,000x from 2011. Best case scenario: THE GAINS HAVE ALREADY BEEN MADE. Bitcoin takes over the world and we're still just chasing diminishing returns.

>>10074088
You too can be part of this legendary scam!

They'll be talking about this one for years, and you'll be able to say your cash disappeared with the rest when the walls fell that terrible day.

Otherwise you're just another no-coiner who never really lost anything. Come on... get fucked by the pros.

>>10041709
Nostradamus only looks effective in retrospect, if you twist what he says to match the data and ignore everything meaningless and obviously wrong.

Nostradamus predictions are EXACTLY LIKE technical analysis.

>>10019210
12.5 bitcoins is still more than $75,000 every ten minutes.

The first bitcoin run, to $31.90 (+63700%), took a year. Then it dropped 93.7% over the next four months.

From that $2.00 low it took a year and a half to peak at $266.00 (+13200%)... and then fell 81.1% in SIX DAYS.

$50.11 to $1157.50 (+2200%) took seven months, and the 85.3% drop to $170.47 took two months.

TODAY is the six month anniversary of the end of the two year bull run from that low to the ATH: 19783.21 (+11500%) We're only down 67.3% since then.

No fall has taken this long. No fall has been this shallow. IT'S DIFFERENT THIS TIME.

>>9902889
It's still lower than it's ever been other than in the middle of the Bush administration. Nudge me when it gets back up to 5%.

>>9864321
21 million times zero is still zero.

>>9831082
The dollar.

So, how's the /biz/ VIX? Now that we're all deep in the cryptofeels.net, what do we think about the real estate bubble, the rising interest rate crisis at debt monsters like TSLA, or the stock buyback trend? Is this just a little profit taking or is the whole mess coming down?