/biz/ - Business & Finance

it bounced because it was falling too long, not because of this is strong support meme
sub-$5k before october

>>10016230

you think a support holds forever, retard boy? It gets weaker each time it tests it. Wait for the 7k backtest for shit to hit the fan

>>10016258
>>10016307
Keep dreaming son. Exchanges now full damn well that if they allow BTC to drop below that, people won't be able to range trade other coins. Don't expect moon missions now but do expect 2x-5x on altcoins existing out there trading in range. There's a reason why altcoins move higher percentages than buttcoin and it's because traders are moving to trading alts with BTC as there are no other pairs available yet as of this point.

please pump it back to $7k otherwise it can collapse any day

>>10016258
>>10016307
Stay poor. Exchanges live and die on people speculating. Anon is kinda right. They will never let this shit die and drop below that.

>>10016374
>let this shit die and drop below that.

Crypto doesn't 'die' if it goes below $6k. Did it 'die' when it went from $1.2k to $150?

>>10016399
>what are mining costs?
Holy shit you're fucking retarded.

>>10016399
The mining difficulty was way lower. Bitcoin might actually die if it hit $3000

>>10016399
it isnt profitable to mine at 4k, so yes.

>>10016421
>>10016428
>>what are mining costs?

Difficulty adjustments are a thing

>>10016230
>6k strong support
AHAHAHHAHAHAHHAHAHAH

>>10016421
mining is still profitable down to 4k in many countries

People often forget that there are 24 hours in a day, not what candles you see on a computer screen in your hourly charts. A day's not over until it's over. A day's closing is more important dumbfucks. 6k just held the line and it has served its purpose well. Expect bitcoin to range trade.

>>10016230

so BTC dont go to 5 k ???

>>10016374
it will drop because there are too many retards like you who believe it wouldn't
you can't buy cheap at the bottom if you don't scare the shit out of morons

>>10016450
Except bitcoin is now up higher than yesterday's closing. Asian market dumps and creates panic sellers, US market then pumps and squeezes shorts before finally rising back in its range. Like fucking clockwork.

>>10016230

how can you say that BTC 6 k strong support, when BTC was just hours below 6 k, BTC was 5.8 k. so 6 k isnt strong support

Back to 6.6 before the great dump

>>10016498
>t. buttblasted nocoiner
How's that 100x short coming brainlet? So frustrated that you take it out on this thread?

>>10016500
Anon...
We WILL see ~3.5k

Too bad ETH isnt the same is dying by the second.

>>10016507
A day's not over until it's over. Read >>10016458
genius. I say it has held the line pretty well. It can't break through and in fact just erased the red that the Asian markets have dumped all day.

>>10016517

it continue dumping already

was it when BTC broke 6 k support line, does that mean that BTC is going to 5 k?

>>10016522
how's hodling meme working for you? because shorting for 6 months was great

>>10016550
BTC unfortunately is still used as a primary trading pair for many alts. That's probably the reason why they won't let this shit die. There's just too much at stake for exchanges and miners if they just let it free fall without intervention.

>>10016458
There is no closing in crypto.

>>10016577
>thinks HODL is the only way to make money on the market
Holy shit what a brainlet. There are alts and range trading but you're probably too low IQ to figure this out.

>>10016595
>doesn't get what "closing" means on candles
You shouldn't be here. Let the big boys do the talking.

>>10016606
i had high enough iq to sell you all my bags in january

>>10016564
Not going to say it won't go below 6k and close at that but it's pretty clear it's holding up pretty well despite repeated attacks to dump on it.

>>10016631
>bitcoin is the only way to make money in crypto
And this is why you're low IQ.

>>10016230

Anyone else confused about the amount of 6s in every TA.

Bitcoin is not the devil's coin is it ?

>>10016667
>he still thinks about making money in crypto after ponzi went bust
keep coping buddy

If it goes to 3k exchange registrations will drop to zero. Crypto website traffic will drop to zero. Shitcoin devs will go back to apps as their ICO funds become worthless.
Basically total death.
Bears are deluded.

>>10016341
This
>>10016307
Fucking naive low brain fag detecte

>>10016699
>If it goes to 3k
oh no, something that was $0.1 going to $3k means it's dead
t. ath buyer

>>10016682
>literally a pleb
Here's a free lesson brainlet boy. This is your typical OMG coin trading in range. You can 2x your portfolio trading in range even in your sideways market. I typically charge for advice and lessons but for you, I'd happily school you for free.

>>10016746
>I typically charge for advice and lessons
coping AND larping? nice
how much time you spend looking at this charts hoping regreting you haven't sold before to have any money to buy now?

>>10016799
I don't know why you think it's larping. If you know how to read charts you'd know exactly what I'm talking about. Furthermore, what do you think all those OMG shill threads were all about? Stay poor brainlet

>>10016746

>>10016230
Did you change all the 7s in that pasta a week ago to 6s?

Pretty sure I saw this pasta with 8s and 9s too.

>>10016258
>>10016307
This and this. It gets weaker with every test. We'll slowly bleed all the way to $3800 for 2 years.

Imo the bubble burst. That was the fucking moon if you didn't make it by the time bitcoin went from 1 cent to $20,000 you are the last fool standing and won't make it.

>>10017306
Think about that. You had an opportunity to buy bitcoin since 2009-10-11-12-14-14-15 and fucking blew it lmao

>>10017064
OMG shill threads? what is it, 2017?

>>10016453
where

Saying the price of Bitcoin won't go below a certain price because of the cost of mining is like saying the price of my shit won't go below a certain price due to the cost of the food I eat.

>>10017449
I would ignore country averages for power , especially countries with a large rural/urban divide. I would guess if you are on hydro or nuclear power with a special contract with the producer you could mine at a fantastically low price.

This is just like any other mining operation, when the price drops the least efficient miners stop producing and go to stand buy while the most efficient continue to mine.

Some of the inefficient miners won't make enough money when they are operating to cover their fixed cost when they are mothballed and will lose money in the long run but fuck them, they made their calculated risk.

>>10017685
this. it's funny really, bitcoin is clearly based on Austrian economics monetary theory but Satoshi built in a little bit of labour theory of value with mining - for the brainlets I guess

I think we go down more. I think we will see the real despair at sub 3k or even 2k, you can still range trade your shitcoins there, it's just the range that changed kek

>>10017064
What am I looking for on this chart
>>10016746
I see the range, the swing, but how do you call the tops and bottoms?
Do you still have long term holds and range trade with a % of your stack?

>>10018044
Your brain.

>>10018109
Hurr durr Sandra come over here, quick! I totally burned this guy on the internet. What a doofus.

>>10016421
>miners will rather immediately go insolvent than operate at a loss for a few months hoping for another bullrun

>>10016421
https://cointelegraph.com/news/chinese-police-arrest-bitcoin-miner-who-stole-150-mw-of-electricity
What mining costs?

>>10017685
Is that a pepe painting bottom left?

>>10018183

>>10016682

This post proves you've never held a single coin in your life. You're just butthurt for missing the opportunity to make millions and thats why you make these salty posts in a mongolian image board.

>>10016744
LMAO. You think normies will ever EVER touch that shit again after a 90% retrace? We're already at rock bottom levels of interest. And BTW if BTC goes to 3k, alts are all going to break new ATLs.
5.8k is the floor in your lifetime.

>>10018520
>he thinks that the US/Europe matter to crypto
Wake up, burger.

>>10018520

>LMAO. You think normies will ever EVER touch that shit again after a 90% retrace?

They literally did when BTC dumped from 1130$ to 150$

Are you retarded or are you just acting like one for fun?

>>10018563
Normies didn't even know BTC existed when it dumped to 150.
Most of them only became aware of it during the 2017 bullrun.

>>10018574
>Normies didn't even know BTC existed when it dumped to 150.

You retards say that every cycle. 'Normies bought in on this one so it's not happening again.' Shit people were saying that in 2011

>>10018574
>Normies didn't even know BTC existed when it dumped to 150.

Yes they fucking did. Even our backwater evening tabloid made news about bitcoin in 2013.

You're just deluded nigger.

>>10018574
I heard of silk road before I heard of bitcoin. Bitcoin was what people used to buy drugs off using it. It was used like money then. Now it isn't because 1 bitcoin can buy you a used car. The bull run is making people think twice about not only buying bitcoin, but whether or not they even want to spend it on anything. They see how it went up that high a few times so they are buying to hold until 2030.

>>10016230
I am telling this since months, but nobody fucking cares because their monkey minded brains cannot comprehend objective views, when you have already sold or you are sitting in an overleveraged short position.

6k is the bottom. A clear quadra bottom and it already bounced back up. Doesn't change a thing that we might be in a sideway / bear market for several months

>>10018929
>I am coping with this since months, because my monkey minded brain cannot comprehend objective views when you hold or you are sitting in an underwater long position
it will be majestic when 6k level finally breaks and last bastion of delusion will fall
the selloff will be so great that's how we get to $4k you all deny so hard

>>10019049

How does it feel to miss the opportunity of a lifetime twice and then instead of wisening up you miss it the third time due to all the salt from your previous failures?

>>10018722
The valuation of 1 BTC is not the problem. Rather people are switching away from it due to 1) transaction fees and 2) weakness of BTC privacy.

>>10019049
Except it won't break and we'll have waves of suicides as people realize they could have bought the bottom on four or more different occasions.

It happened every single time during btc's short existence.

what 6k support? it broke what followed was a pathetic short squeeze - we're going straight for 5k nigger - when and how fast, fuck nows

>>10018929

you're in for a surprise faggot ... if we go for 5.4 its likely going for 4.4k if that is gone ... meet and greet 3k, if that is gone it will get real rough ... around 1.5k likely point of no return

5850 that's all I will say here

>>10019840
The support that was tested 4 times. That support.