/biz/ - Business & Finance

that wick. nothing to see here. move foward. bitcoin is totally fine.

>>17789674
OOOOOOOOOOOOOO

>>17789674
So bitcoin dumps 65% and it's bullish? top kek this bull cope.

>>17789674
$3500 before February

>>17789695
What's bearish about a long bottom wick?

>>17789718

Yes retard. You are EXACTLY the same idiot that would have said the EXACT same thing right her in 2015 on the chart, for the exact same reasons you have no.
Sometimes you need to think things a bit differently. Just like when you desperate poor faggots are bearish on any pump, some times after a dump you can get some bullish signals.

>>17789718
It's like you retards posting in this board hate making money.
I'm stunned. Fucking brainlet board lol.

>>17789794
>>17789802
Only thing keeping bitcoin afloat is tether pumps and exchange fuckery. No tech. No adoption. Lightning network is a joke.

>>17789823

yeah. sure pal. nice new idea there. heard it all before.
they said that all the way up to 20k too. Face it. you are a perma bear, and the only reason you are is because you are literally poor and don't have enough money to be bullish, which is why you have to be bearish

>>17789848
>they said that all the way up to 20k too.
The peak at 20k proved that bitcoin had a cap on its growth. $50 fees and tether was pumping it all the way. Get over it moonboy

>>17789802
Volume's been gradually declining for over two years since the $20k run. How's that even bullish?

>>17789674
REMINDER THAT THE 200 MA IS LITERALLY A MADE UP LINE WITHOUT ANY OBJECTIVE OR STATISTICAL SIGNIFICANCE AT ALL

>>17789767
Cope

>>17789674
let me check my tarot cards

>>17789907
he didnt ask a question you illiterate fuck

>>17789876
No it hasnt. We are currently at the peak of all time volume. Wtf are you on about

>>17789940
It's over, man. Who the fuck is going to buy bitcoin now
>Digital currency
Nope
>Digital gold
Nope
>Store of value
Drops 65% randomly, nope
>muh hedge
Nope

It's fucking dead

>>17789940
Check the volume of major exchanges, not the fake volume on coinmarketcap.

>>17789862

That issue happened at 1k top too but you are too new to remember. despite that it went 20x and ran into the same issue again.
On that logic, there is no reason it cant pump more despite being a bogged down old system. Face it you are too poor to be bullish and you are being biased.

>>17789876

This is Bitstamp, not exactly a popular exchange. additionally, no shit volume is down over time. 1 BTC literally represented 1k of USD volume back then. more were being exchanged hands, how the fuck is that unexpected? now that they are worth so much more of course there are less exchanged hands per day, but the volume in USD is WAY fucking higher now.

and despite your bitching, Coinbase just had ATH volume in BTC for two days straight(see pic) and it had its ATH EVER today on a green day, meaning people with money (not you) and very fucking big money couldnt fucking resist buying BTC at that price, so much so they made ATH on volume.

fucking cucked retards and will miss out

>>17789823
So many bears, every thread your mantra is the same. It's all so tiresome, yet we push forward toward a brighter future. Bitcoin is a part of that.

>>17789773
big money liquidated and coming out. the economic model established by core doesn't work. It's going to 0 at the next halving. this is the biggest red wick in bitcoin's history yet it's volatility should be reducing as it grows. its dead.

>>17790003
>That issue happened at 1k
No, it didn't. Fucking LMAO at you bullcucks. Imagine a company that you keep saying is going to moon 1000x but hasn't developed anything new in years, has no direction and failed miserably the last time demand when up for its product. You'd be looked at as insane.

>>17789960
>randomly

wew

>>17789848
Got him

>>17790043
2017 latecomer detected

>>17790013

Bears are just poor people in disguise. they dont have enough skin in the game, want to accumulate more, so they have incredible bias for it till they get enough to feel ready to be bullish.
They are cucks, and will deny that till they miss out on the big pump, be bitter the entire way up and call in tops non stop. this happen in 2017 and i watched some of these fags call the top every 1k higher we went. they felt like suicide when the realised even their poorfag stack would have netted gains if they werent faggots

>>17789823
imagine still not understanding what makes bitcoin valuable in 2020

>muh tech
>muh adoption

>>17790079
If bitcoin went to $1 I still wouldn't buy it cuz it's a worthless shitcoin. It's going nowhere but bullcucks like you are fantasizing about moving out of your parent's houses after saying "I TOLD YOU SO" to all the relatives that think you're stupid.

NO ONE has any idea what the value proposition for bitcoin would be. It's just "NUMBER GO UP!" why does number go up? Bullcucks have no idea.

but the reward to those who run the network will cut in half so it will moon

>>17790115

they are in that awkward 110-1125 IQ range, probably on the lower side.
not average, but no where near smart, but think they are smarter than they are because they are slightly above the mean. That's why they come up with shit like this and still miss the entire point.

>>17789882
REMINDER THAT FUNDAMENTAL ANALYSIS IS FOR FAGGOTS

>>17790152
Dude, no. The reason we will go up is due to the halvening.

>>17789876
you have no idea how fees work or what you're talking about in general

>>17790177
>DUDE MINERS WON'T LET THE PRICE FALL SO THEY WILL PUMP IT
>"so why don't they pump it right now and make more money from the block reward?"
>UHHHH SHUT UP BITCOIN IS GOING TO 100K

>>17790043
you're a moron. jesus, how many newfags are there on biz?

>>17790130
The realization that you can make money on shitcoins and even scams in this space comes slow to brainlets. There are 1000 retards you can convince to buy bags still. Stay poor.

>>17789794
It went 100x from the bottom of that wick last time, in the span of just over 2 years. That'd mean $300k bitcoin in the winter of 2021/22.

>>17790205
this post was meant for >>17789862

>>17790079
>>17790156

>>17790130
>bitcoin is going nowhere
If bitcoin is worthless why did the first 50 people trade their cash for Bitcoin?

>>17790003
>This is Bitstamp, not exactly a popular exchange.

Look at the BTCUSD volume of bitstamp, coinbase, bitfinex, gemini, bybit, bitby, bittrex, ftx, okcoin, currencom on tradingview. They all show declining volume since 2017.

>>17790288
>>17790382
>y-you don't know how it works

Then explain it bullcuck. What is bitcoin's value proposition now? Literally every cope has been demolished. No store of value, no digital gold, no electronic cash.

>>17790438
None of those things matter, just like they didn't matter in the first transaction. It has value because humans ascribe value to it. Nothing more. It is no different from gold, paper dollars, numbers on a screen, lead bullets... it's all the same.

>>17790405

I already explained this.
and we were i na bear market so obviously it was low. but its picked up since last year, and as explained many years ago there were more BTC exchanged hands becase they were worth so much less.
and we jsut had the highest volume in all of BTC history two days back to back. the highest was today, which was a green close.

Anyway, im done. You are correct. don't buy, make sure you stay away form btc because one little thing was wrong and flawed with your own subjective internal definitions and ideas of it

>>17790490
>It has value because humans ascribe value to it.

C'mon bullcuck. Don't pass. Explain it. WHY WOULD SOMEONE WANT TO BUY BITCOIN? WHAT DOES IT OFFER ANYONE? I know you're panicking because your entire future was banking on some miraculous moon mission where every sensible person in the world suddenly wants to own bitcoin for no fucking reason.

>>17790438
>>17790534
would you accept 1 bitcoin if I sent it to you right now?

>>17790492
How is it subjective you can even look at the charts and see for yourself? Do you just look at hourly candles?

>>17790534
Why did the first 50 people trade cash for bitcoin?

>>17790534

>it went from $0.03 to $20000
>he still doesn't get it

>>17790576

>>17789695
people bough it up, bullish

>>17790576
>>17790582
>>17790597

Is anyone else noticing this commonality in bullcuck responses? They have no idea why bitcoin would go up in the future. Instead, they fantasize and obsess over bitcoin's past. They just want to catch another 10000x, hoping and praying they can become rich. It's OVER bullcucks. You missed the boat.

>>17790578

Like i said bro, don't buy and stay away base don this one single factor. BTC will never ever go up again because the volume decreased in the bear market one one exchange in particular.
Never buy it again because this one single factor means its impossible to moon, and make sure you base your entire strategy on this one thing
kek

>>17789674
Yes. Everything is 100% glued to the charts right now. The 50% plunge was choreographed.

there is no recovering from that massive red dildo, it just doesnt happen. See you at 3 digits frens, its been a wilde ride

>>17790578

just like Apple. look at that disgusting reduction in volume. been waiting for it to go to 0 ever since

Bitcoin has lost all credibility. It has seen some success, but ulimately failed

>>17790534
>WHY WOULD SOMEONE WANT TO BUY BITCOIN? WHAT DOES IT OFFER ANYONE?
jesus, this post is such cringe. bitcoin 1) is the gateway to the 160 billion dollar crypto market so it has value 2) can moon to astronomical values so people see value in it and want to buy it 3) can be stored securely without using a bank so people see value in that 4) can be transferred around the world without the need of a bank so people see value in that 5) it is scarce and on a set deflationary schecule so people see value in that. there are other reasons why there is value but those are the main reasons why it is valuable.

>>17789876
Where the fuck do you shills come from holy crap

>>17790654
Are you deliberately being dense? I've told you to look at all exchanges I've mentioned. They all show declining volume. There's no aggregate volume chart for specific exchanges. Growth in price with declining volume is generally considered bearish. Add the current state of the stock market and the recent, unprecedented 50% dump. They all point to BTC being bearish.

Your argument for BTC being bullish is just this:

>If the weekly closes above 200MA thats a pretty fucking bullish signal to be honest.

>>17789794
That wick at the start of 2015 is even more dramatic.

>>17790534
>WHY WOULD SOMEONE WANT TO BUY GOLD? WHAT DOES IT OFFER ANYONE?

>itt: cancerous trading memeline faggits

I fucking hate each and every single one of you cocksucking fags. Trade this volume that. Y'all niggers ruined bitcoin. I want to go back to the days of slinging dope and getting paid in bitcoin, digital cash.

Fuck all of you. I'll push this shit to zero if I have to just so all you cancerfags become an hero

>>17789718
Outlook is always bullish in the long term, but honestly i think we're re-testing 4k this week.

>>17790786

Well now you make sense, you must have aspergers, expecting me to read your mind and appeal to your internal reasoning without saying anything but "muh volume", so i wont hold it against you if you have aspergers

those are valid points

And yes, we look like it double bottomed, followed similar pattern before, have a halving event soon, had the highest volume in all bTC history but a big factor two days back to back, the largest was people buying the bottom here wich actually made it close vastly gree nfor the day too, a hige wick (maybe biggest in BTC history) was bought up with the highest volume ever seen full stop.

Pretty good case to doubt more significant downside imo. it signals all the people who were so upset for missing the 3k range couldn't resist buying it up in droves this time, and it also shows that the weakness from 14k has been invalidated due to a double bottom test, which means generally, another stab at the past high is due to test the strength of the test of the bottom again, at which point, if it fails again ,you can reevaluate and maybe say its bearish.
now considering the other things explained like halving, i think its a pretty good hint at why you should not be overly bearish now, and it would be highly retarded to take such a stance

>>17790894
Ok, nigger.

>>17790786
bitfinex used to be one of the biggest exchanges and they've been slammed with lawsuits. the screenshot you posted is a terrible example man. in july 19, when BTC was at 13,000, volume was near where it was at in dec 17. volume really doesn't predict price man. it's the other way around... price moves up then volume follows

>>17790652
you going to respond bitch, or are you done now?

>>17790925
What's the point in arguing with bullcucks? They're delusional.

>>17790929

and they are all richer than you

>$0.03 - $20,000

>>17790866
serious question.... after last night, what makes the long term look bullish for bitcoin? the long term log chart was violated in a pretty brutal way. it broke long term trends last night. that hyper growth narrative doesn't fit anymore. obviously it cant go up to infinity over time....right? so where's the top? you have to seriously consider whether or not that's behind us now.

>>17790960
It's time to move on bullcuck

>>17790929
all of >>17790715 is delusion? maybe next time you'll do better

>>17791002
>>17791020
Why do you care?

>>17790694
Yes, It's a bubble. smart money is waiting in the sidelines

>>17791002

It broke “longterm log charts” about 50 times before on the way up, faggots just redraw them everytime since the dawn of btc. Go look up charts on TradingView from many years past.

>>17791039
Because I believed in bitcoin. I wanted it to succeed as peer to peer electronic cash. But these bullcucks are parading around a corpse, jerking off and dreaming about lambos. Maybe some other coin will succeed (but It'll probably take years for faith to be restored)

The 200 weekly MA was the ultimate hopium.

Now that is broken it could flash crash too $0.01 too, there are no “rules” anymore.

>>17791072

>hes a CSW schizo

All makes sense now

>>17791002
The further down we go the more buy pressure there is in anticipation of increased mining difficulty in the future driving up prices.

>>rational markets

>>bitcoin

>>17791097
CSW is a moron and a fraud. Everyone knows this.

>>17789695
Yeah that wick goes straight to the 300 week MA
If we close this week above the 200w NA at $5,500 we'll be pretty bullish at least in relative terms

1 cosmic margin call and we go

>>17789674
Dont worry, You can long here. It is obviously a dip, nothing to see

>>17791083
basicly this.
$0.01 is unlikely, but 1k -2k wouldn't surprise me anymore.
Just sold half to have some Tether for the next months while i'm saving fiat.

expect another 6, 12 or even 18 month bear market.

TAfags get the rope

>>17790130
Bitcoin has a massive cost to bring to market, that alone gives it value. It will never go to zero.

>>17790239
they won't pump it, it's a supply thing.

>>17789674

>>17792743
So if I lock a bunch of dog shit inside a safe it becomes valuable because it's hard to get out?

>>17791111
It's the other way around, prices have to rise to compensate for the decrease in miner rewards, otherwise it's fucked.

>>17789674
>N-NOOO YOU CANT JUS TDOUBLE BOTTOM WITHOUT ANYONE NOTICING
It's going to 1200.

>>17792898
terribly drawn lines

>>17792928
no since the dogshit didnt have any value to begin with you retard.

So let me get this correct. Idiots on biz think this is the bottom.

Thanks, just shorted.

Even if we are near the bottom, it wont swing right back up quickly.
Previous 3k bottom was formed over a period of 130 days. It literally was moving sideways for half a year.
We wont see 20k and above in 2020. Bottoming process is boring and slow.

>>17792928
What gives anything value? Are you legit retarded?

When you get bitcoin stuck on the bottom of your shoe let me know

>>17789674
>muh graphs
>muh bottoms
>muh wicks
does anybody actually fucking use bitcoin for anything other than currency speculation? if the answer to this is no, then what is the point of speculating on something objectively worthless?

>>17789674
why even help the brainlets here, it's clearly bullish to high IQ savants here, everyone else thinks it's going to sub-1k. kek

>>17789718
We're in an economic crash. People need liquidity to pay off their debt. Everything is going down.

>>17793142
>muh muh

>>17793151
It'll be bullish once all the debt is wiped out by this crash.

>>17793195
all this graph analysis tea leaves shit sounds worthless in the face of the question of what purpose bitcoin actually fulfills and whether it does this better than its competitors

>>17793257
It's a conveniant scapegoat for anyone involved with the broken monetary system that caused this bubble though.

>>17793106
>What is a v bottom
3.8k might have been it

>>17793594
Show me 1 (one) time btc bottomed out in few days and soared quickly. It just doesnt happen, stop making shit up.

>>17789695
Thanks for pointing that out. Just sold all my BTC for Bidesk coins and BDK

>>17790018
>If only there was some global crisis of confidence happening around the same time that might explain something like this

>>17790239
You're dunning Krugering retard. It costs 6k to mine a btc in the US. It costs between 3-5k to mine a btc in Russia or China. If it falls under 6k US mining ops will stop meaning less supply dumped on the market meaning price action reversal. Under 3k even less will get dumped slowly closing into 0. The halving will make the bottom 6k.

Do you really think people like the Winklevosses that nig running bitmex, millionaire miners, mafia bosses, drug dealers etc will be ok with a collapse of btc? You realize they are millionaires and you are a fucking no body. They are much smarter than you, you cucktard.

>>17793257
wew keep talking

>>17795067
inversely theyve already made their money so they dont care anymore

The only reason why BTC is at its current price is because the MC is closer to 100B, that's it. There are no technical or logical reasons for BTC to be there. This is the most stupid market in existence.

Exchanges like bitmex made over a billion in liquidations in a week. Think about that when you're doubting this. Will Bitcoin be dumped into despair? Or will we have a steady upward trend to encourage longs with fast downward wicks to liquidate? Which would be more profitable? Who controls the most btc? Leverage exchanges and miners. It makes sense for both of them to have a steady increase.

>>17795102
Bahahahaha. Yeah. People like that just want to make a mil then leave right? Fucking cope. They want world power level of wealth.

>>17795114
Bitmex halted trading two times yesterday due to to the absurd amount of highly leveraged traders, their entire liquidation engine went to shit, twice. Price spiraled down until they shutdown the exchange, and then it went up. Bitmex isn't in charge of anything, degenerate traders are

is it time to buy yet

>>17790834
gold is used for electronics and decorations brainlet. it is a practically used metal.

>>17795016
lol retard thats not how it works. difficulty gets adjusted so the blocktime stays the same.

>>17795067
they have sold the last days and will sell more.

>>17793771
2015 had a single bottom wick that got bought up

do people trying to “invest” in cryptocurrency really not know how bitcoin was worthless for years, literally a penny, and was given away for no reason?
is that really the market this scam is attracting now? at least in 2017 it was people saying they wish they didn’t trade bitcoin for pizza

>>17789674
If you think this is a double bottom, you weren't here in 2017. this is $6K before the $3K fall.

Prepare your anuses for $2K, and possible triple digits. Do not buy at $3K.

Only Kleros will survive the crash.

tether will be dead before bitcoin,
screenshot this faggots.

>>17795334
>do people trying to “invest” in cryptocurrency really not know how bitcoin was worthless for years, literally a penny, and was given away for no reason?

that's literally not truth, BTC has been in a bullrun for it's entire history
by may 2009 satoshi himself placed he price of 1 BTC at $0.0007 which was the price of mining at the time
pic related is the first exchange, which open in fall 2009, bitcoin went from $0.0007 to $0.01 in spring 2010 that was allread a +1300% move up in price, it was never "worthless for years"

happening

>>17795336

Did you ride the short bus at school?

>>17789674
What is the value proposition of Bitcoin?

>>17789960
Look kids this is what bearmarket looks like

>>17796325
the sad part is that if BTC had not been inflated like crazy trough market manipulation for years it might have thrived trough the stock market crash and actually act as an edge

No its gonna go to 3k you fucking retard

>>17790257
Stop helping them

>>17795130
Based.

fuck, this thread is making me wanna fomo buy again.
bought 400 euros worth at 6700 on thursday and then it dumped. should have waited or spread the buys.
>inb4 haha poorfag.
i know im poor, no need to rub it in.
also got liquidated for 0.2 btc, not feeling exactly bullish rn.

>>17789823
this. chinese fraud keeps BTC going

>>17789674
>bitcoin is a living entity that fallows a strict pattern

>>17796747
no but traders are
if this week close bellow the 200 it could start an other selloff

>>17789674
Holy shit OPs a fag!

>memelines

>>17789882
You can literally see it never dumped below it, dumb cunt. Your chicken shit brain is unable to comprehend that obviously.

>>17790156
tfw 1125 IQ awkward range, not quite smart enough

>>17789718
If you bought it while it was low yes.
Buy low, sell high, that is all you need to do and you drooling cumbrained normies still can't understand how to do that. You fucking retards holy shit how do you survive in the world. Here's a pro tip from a real trader making real money every day in this idiot filled market - buy some now and then sell it if it's worth more later, repeat with other assets, don't buy worthless shitcoins unless there's a chainlink-like cult around it, remember you're trading against people or bots configured by people and they follow basic bitch TA more than I'd like to admit.

I love reading these threads because you're all a bunch of brainlets trying to shit in each other's mouths. Half are moonboys who think it only ever goes up, and the other half are pretending to think BTC is going to zero to get more people to sell so they can buy up cheap and instantly become moonboys when they click the buy button.

>>17789802
>>17789794
>>17789848
>>17797529
>>17790079
>>17790654
>>17797636
Even if you use a VPN to post under multiple IDs everybody can still smell your bitchy samefag vagina.

>>17790715
>IT WAS THE FIRST!
with tech that usually means getting outmoded by better iterations. This is an anti-argument
>IT MIGHT GO UP!
so can every other coin
>can be stored securely
so can every other coin
>transferable
so can every other coin
>artificial scarcity
so can every other coin

>>17789674
lmao
It's over, your get-rich-quick scheme is done, your late adopter cope is hilarious
I suggest you try penny stocks, same thing as crypto but it won't go to 0 next months

>>17797774
Literally my first post here in 3 days.
Suck my dick you eternally poor nigger brained normie

>>17789674
$100,000 in 2021 isn't a meme anymore.

>>17790130

It's money that can't be printed, what more do you need. I use gold too, which is even more slow and expensive to use.

>>17790534

Explain the value of fiat to me and why it doesn't work.

>>17789794
>it only goes up

I'm guessing another leg down this weekend. Chart doesnt look too good, lower highs..Who the fuck is really gonna buy here after that bounce anyway? Its too risky. That stock market dead cat bounce pumped some more money into BTC but it looks like a short term solution

>>17789674
ZOOM OUT retard, we're just continuing our correction from pumping from $0 to $20k.

>>17798203
it's not money when the network is completely dysfunctional and stops working when it picks up usage over 10 transactions per second, moron