/biz/ - Business & Finance

we goin' parabolic!

we'll bottom at the low-3500's...no big deal

Sigh, btc used to drop by 10%. After being justed so hard, this drop is barely a pinch

What a pathetic dump. This is the bottom, no sellers left, only strong hands

>>12566563
Hey look at that
Looks like I'll keep buying more then

It’s not fucking moving

>>12566581
Where are the buyers?

>>12566596

They're here buying

>>12566600
This. BTC price at $100k by EOY 2019. LINK crashes and burns to $0.02 EOY 2019.

>>12566666
>your post
>those digits
MFW

>>12566563
Honestly, this crypto crash has been the best thing to happen in a long time. We are literally getting another chance to make it by accumulating. Meanwhile, we have NPCs who still genuinely believe BTC is worth nothing and secret-bulls that are fudding crypto non-stop.

See you all in 2022 when BTC is over 100k

>>12555555

>>12566666
Checkers and rich af in a year

>>12566563
This is the final stages of bear market. This is the part where it dumps, but it's slow and more controlled. We will likely slowly bleed down to $2800 and then flounder there for a week or two before moving up at a quicker pace.

>>12566563
Reminder that we are in the depression phase right now, don't kill yourself just yet

>>12566666
looks like you aint kiddin

>>12566705
DELET

>>12566705
>accumulating

Can you imagine selling your Bitcoin this cheap?

>>12567828
cheap? just because you grossly overpaid for it doesn't make it cheap now.

it's fucking THREE THOUSAND FIVE HUNDRED dollars for fake internet money. it has a long way to fall.

>>12567837
short it then. show us your positions

>>12567837
>THREE THOUSAND FIVE HUNDRED dollars for fake internet money.

Except that bitcoin has utility and thus fundamental value. Is it worth 3.5k? Well, the usefulness of that technology is very subjective and thus if the market values it at 3.5k that is the value of the technology right now. I am trader but just by existing in this space I know plenty of people who use bitcoin for non-trading purposes and make good money. In certain types of businesses, bitcoin is literally the most convenient way to do transactions and as long as that sector of the economy stays alive, bitcoin will have fundamental value.

>yfw you're eagerly waiting for the next halvening

>>12568068
>In certain types of businesses, bitcoin is literally the most convenient way to do transactions and as long as that sector of the economy stays alive
you can't be talking about BitPay transactions since that's basically fiat since the Bitcoin is market dumped as soon as someone pays, so darknet markets? ransomware payments?

It has been proven that the black market use of Bitcoin is on the order of 1% its total transaction volume. Virtually everyone is just trading it for speculation. If Bitcoin were valued for its utility as a black market currency, it would be worth less than $1000. 2015 valuation. Is that what you want?

>>12566666
I cannot fathom that, Timothy

>>12568169
>It has been proven that the black market use of Bitcoin is on the order of 1% its total transaction volume.

So you are saying 1% of black market transactions exist within a 50 billion market cap? Yeah, that sounds about right. Why are you proving my point for me?

>If Bitcoin were valued for its utility as a black market currency, it would be worth less than $1000. 2015 valuation. Is that what you want?

Look for whale wallets and see how much of their bags they have sold in the bear market. Almost nothing. And there are also many whales all around the world. Think: If I am a whale and bitcoin is going to 0, why would I not be the first whale to dump my bags and be able to get out at 3k?

When you figure out that math problem you can come back to me.

>If Bitcoin were valued for its utility as a black market currency, it would be worth less than $1000. 2015 valuation. Is that what you want?

This could be it. But for some reason no orders to buy bitcoin at 1000$ are filled. If you are arrogant enough to believe you know better than the market then feel free. But I know better. If BTC goes to 1000$ I will accept that, and will probably be shorting way before, just like I was shorting just before it dumped from 6k. But until then, the market and my connections are my guides. I separate my ego from my trading completely.

>>12568232
>So you are saying 1% of black market transactions exist within a 50 billion market cap? Yeah, that sounds about right. Why are you proving my point for me?
market cap isn't volume

If you are basing the value of Bitcoin on its utility/transaction volume, then if people stop trading Bitcoin for speculation, Bitcoin would drop 99% in value, based on your own logic.
>Think: If I am a whale and bitcoin is going to 0, why would I not be the first whale to dump my bags and be able to get out at 3k?
Whales are just as capable of being delusional as anybody. Why didn't all the dotcom millionaires sell before the dotcom crash? All this proves is that we are still far away from capitulation.

>>12568311
>If you are basing the value of Bitcoin on its utility/transaction volume, then if people stop trading Bitcoin for speculation, Bitcoin would drop 99% in value, based on your own logic.
Not exactly and this is also a very low probability event.

>Whales are just as capable of being delusional as anybody. Why didn't all the dotcom millionaires sell before the dotcom crash? All this proves is that we are still far away from capitulation.

So you are saying that the people at the top are stupid? Then isn't it even more attractive for a smart guy to come in and scam the whales back? I mean, your posts basically imply that you can tell the future and know better than everyone else. If I knew better than everyone else I would be taking much riskier trades than I currently do. Why are you not jumping in?

I mean, if you want you can short the fuck out of bitcoin on Kraken. Literally, put all of your savings into Kraken, then short bitcoin at 5x leverage and when the price drops to 1k you will be a millionaire. Just don't forget to invite me to dinner after you cash out.

>>12566581
This. I sold in Dec 2017. I'm starting to buy back in.