/biz/ - Business & Finance

>>7178091

Future's market. Wallstreet niggers shaking more weak hands out of the bitcoin game so they can continue to accumulate cheap.

there are more sellers than buyers

/thread

trading based off of news in the cryptocurrency markets is a fallacy since fundamentals don't matter

>>7178091
Will you fucking listen this time when I tell you?
Chinese New Year. Wait until February 17th.

>>7178091
Speculative bubbles eventually pop. All of them.

Pajeet king doesn’t want crypto in
india anymore

>>7178091
Tulips

Regulations around the world are fucking up the trades

It was a nice a price to cash out and burst the bubble.

>>7178091
This is the reason:
https://www.rt.com/business/417601-cryptocurrencies-crash-after-india-crackdown/

It's not crashing. It's correcting and bottoming out. You dont really think the bull market is over do you? How many new people entered crypto in the past 6 months? lol

>>7178091
ETH is flipping btc. It’s just a temporary blip just got to take the old dog out the back and shoot it. Back to business soon

>>7178091
things go up things go down

steeper the trendline up, steeper down

It's crashing because it's worthless garbage and after months of Bitfinex pumping the market no one will take their worthless Tethers any more.

>>7178091
so I can buy the dip

>>7178091
because there are more sell orders than buy orders

The weak hands must be shook loose to make tomorrow’s millionaires.

>>7178258
That is exactly why it's crashing. Everyone who heard about btc and buoght already did so in 2017.

>>7178091

The same reason it went up, no reason

>>7178091
All of the answers in this thread. All of it is the reason why it's crashing.

>>7178265
Probably the most accurate assessment. The rest of them are just making guesses like 'Chinese New Year' or 'Pajeets'.

>went parabolic
>China
>India
>tether
Take your pick, bad news all the way around.

>>7178091
Lookin at it in hindsight it looks like the most obvious thing that would happen in the world..... it went parabolic from 1000 to 19000 in 1 year and then now it's crashing.

>>7178091
Because BTC isn't worth $20,000. I'm so happy this is happening, it fucks over all the normie investors who raped my alts for months. Here I am now, laughing with my portfolio at a ATH in BTC.

>>7178481
What's amazing to me is how few people on here seem to have taken profits.

>>7178266
This. Price was artificially inflated with tethers.

>>7178091
It's dropping because people think that it's overvalued

>>7178091
The normies are on to us now, they know internet money isn't real.

>>7178591
That’s because we’re here for the long haul and we aren’t putting our fucking money back in the hands of the banking Jews ever again.

>>7178091

ok - very simple. Markets run on buying pressure or selling pressure - whichever has more pressure moves the entire market.

So more buying pressure == more demand == prices go up, and the reverse with selling pressure.

What we have here is more selling pressure against Bitcoin (which therefore impacts almost everything, or at least it has in the past - Eth is holding strong)

so the question I think you are asking is why is there more selling pressure. It could be alot of things - we can't possibly know for sure I don't think.

It can be just people realizing they are fucked in taxes and cashing out, it could be big money manipulating the futures market, it could be just panic seller with weak hands reading stupid articles on the internet, it could be people moved money out of stocks/bonds into crypto at the end of last year because of some sort of fear (USA/N. Korea confict) and FOMO (Bitcoin just fucking mooning) and they are moving money back into the old guard investing. It could be the actual FUD working in Asia, or just Asians cashing out for the New Year and it has a Domino effect. It could be all of the above. There does not appear to be a singular reason as far as my analysis shows me

>>7178261
this

>>7178591

Because people here have been in for years and actually believe in crypto, of course in hindsight I really wish I would have sold at 20k because it may be years before we get back there assuming LN, Rootstock, and other shit keeps BTC competitive.

>>7178739
don't post big bobs here.
we are in a safe for work board

>>7178091
https://www.tradingview.com/chart/BTCUSD/HIIQLGOd-Try-again/

>>7178739
enjoy 4chan holiday

>>7178739
Indicators point to seller exhaustion though.
Which means at this point, it's best to let the sellers have their fit until they exhaust themselves.

>>7179109
there are huge

>>7178612
But what are the people selling moving into? Why would they use tethers now?

>>7178158
Wrong. It's February 16th.

>>7179206
I think a factor is its so hard to get money into the market with all the limits, the time it takes to get verified, exchanges not taking new accounts - there might actually be a shortage of buyers

>>7178158
for....?

It's crashing because everyone and everyone's grandpa bought crypto by now. Do you think someone is going to put billions into BTC, only for some old senior citizens to profit from it by selling their BTC when it goes up from billionaires buying it? BTC is fucking deflating, the rich who pumped it up are slowly cashing out in waves.

>>7179320
that’s a factor too. it will get better the next months, im confident on that.
i have a friend he was waiting 2 weeks to get verified.

>>7178134
then explain how leveraged trading and long and shorts work

>>7178091
isnt it obvious to everyone by now? its because theres no more tethers to prop btc up. its been artifically being kept up for a while now, and now that tethers have stopped printing , and even being burned, now theres nothing to keep btc up anymore

>>7178126
This.
Futures was a way to ensure that people stopped getting so rich off of crypto and it worked.
Good luck getting into the top 10% richest people in the world list now.

>why it's crashing?

It's simply returning to its "normal" value which is around 1k usd

It is scary to me that in a thread with about 30 posts there is only one post about the India news from today which caused the dump.

This board is truly filled with retards.

>>7178091
South korea banning crypto trade.

Investors are getting scared of government intervention/regulation and selling.

Its a knee jerk reaction. It will slowly recover.

If you are that bothered swap BTC for XMR or ETH

>>7178091
Yes, money you can't spend is worthless.

>>7179623
like it wasn't crashing before that

>>7179623
this didn't cause the dump
india is a tiny player in the crypto world
1 million pajeets each with 10bucks is nothing

>>7179109
my bad - btw where does it state that in the rules? just wondering - can't find a reference

>>7178409
Damn, really makes you think.

>>7178183
biggest india exchange handled 100 btcs a day.
not even memeing.
nobody gives a shit about pajeets.

>>7178091

>dat pic

Hold your ADA and accumulate now, wait for March

>>7178669
DELET THIS

>>7178091
This was fully expected to happen. As soon as BTC hits $8050 I’m buying $100k worth and riding until it hits at least $12k.

>>7178669
unironically this.
I would rather see my 100k in crypto go to 0 than cash out and allow jews to win again.

Domino effect my guy. Started with the coinmarketcap delisting of the Korean exchanges from their price averages, then Korea fud in general with "raiding" of their exchanges and the coming ban, since then we've had nothing but FUD news with regulations from world governments, severing of the wavecrest deal by Visa, tether/bitfinexscandal, on top of all that the biggest player in the asset class (BTC) Has been trading sideways for almost 2 months, all cryptos are correlated (for the most part especially in regards to Bitcoin). I would not be shocked to see this continue through Q1 and Q2 Until we find support at the 200 day trading average or earlier. Before all the dumb money flooded the market.
Don't believe this "le whales are accumulating bro" talk this is 500 billion dollar market, there is no one reason for crashes anymore.

>>7178091
To all these people saying "Futures are why!!11" you are wrong. There were more short positions out for the futures that expired a week ago, but since then the future positions that have been taken were more bullish (Wall Street bet on bitcoin going higher)

Bitcoin is dying because it is not a good crypto. It is the MySpace of cryptocurrency. Do people still use MySpace? Yeah, some do - but there are better options out there for users now.

On top of that, the stock market is exploding - in a bear stock market, M1/M2 flows into crypto, right now it is not only not flowing into crypto, but crypto money is flowing out into the stock market - double whammy.

On top of that, the media WORDLWIDE has been shitting on bitcoin, not to mention South Korea, Japan, China (just to name a few) have all been cracking down on exchanges, crypto tax reform.. the works.

Bitcoin may survive the storm, and just due to scarcity may still retain value and eventually recover, but I personally think it is dead.

Once it passes ~$6,000 miners will be losing money, and will have to shut down. As the 'fresh' supply dries up it could recover, but it could also just completely die out with zero ability to handle the massive amount of transactions with no one connected to the network.

>>7178091
Because you didn't BELIEVE

>>7179974
this is nonsense, bitcoin has a brand problem which will turn on a dime when people get greedy enough to buy it Big again, one announcement from Amazon or Starbucks or Walmart and its mooning to 30k in weeks. Bitcoin is much more robust as a store of value than gold.

It's a fucking pump and dump. It's always going to crash the moment you have more early-adopters cashing out than you have gullible fools buying in.

I personally think this is all backlash from confido and bitconnect

>>7180099
But I never sold faggot

>>7179383
So that they can do it all over again.
Do you think people won't buy back once the FOMO kicks in.

For every BTC sold someone buys a BTC.
I think there will be wayyyyy less BTC holders that simply have way more BTC. Next time BTC moons it will go over 20k because there will be less people selling and the buy pressure will make it shoot up even faster and higher.

This is how markets work when there is a fundamental reason for an asset to rise. BTC technical improvements were held back for a reason. Once all the shit is implemented and transactions are quick and cheap again we go 50k faster than you can get verified at the next exchange you will run to.

Tldr: sell if you can't handle the pressure and buy back later in a positive trend or just HODL.
Every day we go down we will go higher and faster when the bulls are back.

>>7178669
THIS

>>7179272
Fiat

>>7178091

The crash is typical of every January, we saw unprecedented growth in December and now it's correcting.

The dip today? It's from the India news. Nobody gives a shit about pajeet traders, but the news itself scares people in other countries and causes them to be scared.

The more uninformed weak hands we can weed out now the better. What else do we need?

-Tether to die, it's unhealthy for the market
-Bitcoin to die
-More entry points for coins other than buttcoin
-Normies to unironically leave

>>7178091
Oversaturated market full of shitcoins. Constant wishes that BTC dies.

>>7178669
BASED NEGRO

>>7180150
Please tell me why any LLC would ever want to accept bitcoin?
Unless they were using something like the Stellar network to instantly convert to fiat, no company will ever accept bitcoin.
Why would you as a business want to accept as payment a currency that fluctuates extremely in value, unless you were speculating?
You are delusional if you think that Amazon/Starbucks/Walmart are going to announce they are accepting bitcoin

Hold onto it if you want, but it makes much more sense to sell now and re-buy later (if you really do believe in it)
There is a good chance by the time these next futures expire it will have recovered somewhat due to their manipulation.

Where is all the money going though? Everything is down, but you need to convert to BTC to cash out, and even that is down.

>>7180386
300k biz in Japan do
Microsoft, Dell, Overstock, etc already do

U semi normies are the worst

>>7180298
XLM will unironically solve a lot of those problems. So looking forward to FairX putting a stake in the heart of Coinbase and fucking over BTC once and for all

>>7180494

You think? I used to be a holder, now I'm just in LINK and XRP. Got in at 15 cents and sold in the 60s

>>7178739
tfw you have porn of this titwhale and 4chan's lolichan while they are both high on drugs

>>7180542
source immediately

>>7180542
sauce

>>7180298
I haven't bought BTC once since I saw how slow it was when I started in September. Only traded in ETH since.

>>7179519
That would be a long list

>>7180150
>one announcement from Amazon or Starbucks or Walmart and its mooning to 30k in weeks
Makes little sense. Bitcoin as a means of payment is not the same thing as bitcoin as a means of speculation. In the latter case, people literally take loans and mortgage their property to invest. But in order to buy things online with bitcoin, people will hardly put more than a couple of bucks. I glossed over how inconvenient bitcoin really is for online purchases, because things will look even worse then. The influx of large companies will mean that the era of mad gains is over, at least for mainstream coins.

>>7179519
>Futures was a way to ensure that people stopped getting so rich off of crypto and it worked.
Getting rich at the expense of people who buy after you. Doesn't have anything to do with the real use of crypto. Stop being dishonest.

>>7178091

Simple truth? Too many sellers, too many ways to gain, too much gains, not enough buyers. Bitcoins were NEVER EVER for buying. All crypto currencies are a ponzi scam at heart, you create them in the "hopes" that they'll get enough attention to sucker in "buyers" and that's how you make money from them. No buyers, no value. Unlike real stocks that are backed by wacky things like GOLD and CASH and THE UNITED STATES OF AMERICA; your coins are locked inside a cage with no way to sell, tanking in value.

>>7179914
Exactly.

>>7180601
>>7180635
https://www.xvideos.com/video23099335/jaqlynn_aka_princessdust_with_a_busty_friend_webcam_big_boobs_tetonas
teaser. full videos are probably online for free somewhere, there are at least 3 and one is the one where high on drugs
they are on private porntrackers like emp
can't be arsed downloading and uploading for free
godspeed

>>7178091
moving averages.

>>7179744
>being this much of a newfag
ill explain, blue board means no porn you absolute faggot

>>7180243
Niggera scamming normies didnt help thr image of crypto

when someone posts about losing thousands to bitconnect we might laugh but there are thousands of normies who don't understand the difference between bitconnect and actual crypto trading so they assume its all a scam

>>7178091
No clue Byron friendo
Just good prices to buy in at I guess

Why the fuck does no one here know what shorting is? Do you realize you can make money regardless of the direction of price movements? Who gives a fuck if all this shit goes up or down? It's not even ethical technology, it's the same extension of wealth inequality as fiat. People who have a lot of fiat will have lots of crypto, it just carries over, except for a small amount of autistic libertarian early adopters. If it's all neutrally ethical either way, just trade both directions. You're not a do-gooder by only longing, you're just an idiot.

>>7180817
What is the real use of cryptos?

>>7178669
That's plain irrational. With LocalBitcoins you can cash out without any banks. By simply holding, you're not contributing to any ideological cause. Adoption of crypto means actually using it as a means of payment, not storing in a wallet.

>>7181186
TO MAKE MONEY

>>7181151
I dont understand how it works. Dont want to lose all my money

>>7181186
In a perfect world, to pay for goods and services

>>7178134

the market is entire news driven. what hte fuck are you talking about

nocoiner here, anyone know why there's such a huge disparity between prices at different exchanges? seems like an obvious arbitrage opportunity.

>>7178266
>>7178612

>being this retarded

>>7179744
holy fucking shit, being this new

That just be what it do

>>7181151
>Why the fuck does no one here know what shorting is? Do you realize you can make money regardless of the direction of price movements?
No they don't and they don't need to know. They think that the process of making money off each other (since crypto is a zero/negative sum game) is some kind of "fight against the Jews", so they don't deserve to know anything with that IQ level

>>7180533
I can't foresee a scenario where this doesn't happen. None of the fiat exchanges can add sufficient pairings to compete with big exchanges, and big exchanges can't rapidly add fiat pairings. FairX will accomplish both for cheaper than the alternatives.

Granted, I'm sure other exchanges LIKE FairX will spring up over time, but my assumption is they'll be the new Binance in terms of trading volume and able to weather the ankle biters.

>>7181302
Sorry, I forgot that my finance and economics knowledge doesn't apply to internet money.

>>7179804

this is what it's really about. the jews are pushing for regulation because they don't control this wealth.

Jews, spics, niggers and now a crash?

>>7181285
Bitfinex is a tether exchange, tether is trading at 0.985 right now, that's why there's a price difference.

>>7181151
sho me da wae

>>7178126
Why would they accumulate a coin that just keeps dropping in price without any sign of recovery and that is useless in itself?

>>7178091
No worries, the day of the rope has arrived. Pajeets are getting purged

>>7178091
Exhausted demand. There are not enough new buyers of BTC to make the price go up. Instead the supply created by BTC miners is beating the demand which generates a slow but steady drop in price that has been going since december.

>>7181151
Money retard here, thanks for posting this.
You've sent me on a fun wikipedia rabbithole ride and I'm learning a lot.

>>7181285
>takes forever to process
>pay fees to process transactions
>arb disappears
Not saying money can't be made this way, just that it's not as easy as it appears.