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/biz/ - Business & Finance

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7259750 No.7259750 [Reply] [Original]

>>7258614

This guy claimed that the RSI bottomed out near 30 every time and went on a bullish run.

First lie: There were no cases of the RSI going to 30
Second misnomer: This is a fucking zoomed in chart of 2017

Here is the long term chart (pic attached). This asset is still overbought as fuck. We are in a bear market and will continue to be until June or maybe even the end of the year.

I'm doing this to help you, not to unreasonably heighten your expectations. People were confidently saying that it will continue go to 100K in about a month from December. LOL.

This is a speculative asset that is overpriced and fundamentally does not have value: it can't ever be used as a currency until it becomes stable. And this is coming from a cryptocurrency investor since 2014.

Blockchain technology has value. Blockchain companies will be the future. Not fucking 2,000 unneeded cryptocurrencies.

>> No.7259813
File: 407 KB, 2560x1094, fullretard.jpg [View same] [iqdb] [saucenao] [google]
7259813

>>7259750
I think he mentioned RSI 14d and not 14 weeks. You are in the weekly chart. I have a similar chart showing what he meant.

It's a bit retarded but i don't think this is the end of bleeding. What do you think?

>> No.7259847

>>7259813
This will clearly bleed until June. After that, I have no idea. Fundamentally, Bitcoin is overvalued until it reaches 4k.

>> No.7259852

You guys are crazy.. Well be at 30k by April.

>> No.7259871
File: 13 KB, 1152x648, MSPaint Line Maker.png [View same] [iqdb] [saucenao] [google]
7259871

>>7259750

What about this though? Thoughts?

>> No.7259887

>>7259750
1st of all you fucking liar/retard, that guys chart is clearly a daily chart, and yours is weekly.
2nd his point still stands because look at the lows of your RSI.
It's lower now than every time in history on your chart.

If you're that retarded, I can safely ignore everything else you have to say.

>I'm doing this to help you

Go fuck yourself you fucking massive faggot.

>> No.7259891

>>7259750
That's why I'm mostly on VEN.

>> No.7259910

>>7259887
It's lower than at any time in history, but did you use your fucking brain to realize that it's pretty much always been overbought and never been oversold? It has passed its previous low and will continue until it literally becomes oversold on the weekly chart you dumb fucking retard.

>> No.7259934

>>7259813
I already said it was a zoomed in chart. >>7259887
I mentioned it was a zoomed in chart. Learn to read.

>> No.7259990

Can anyone explain this shit to me? How in the world is the price going up when the volume is literally half of what it was yesterday.

>> No.7260006

>>7259934
Then sell and fuck off if you're that big of a pussy.

>> No.7260010

>>7259990
It's going to go down as it already is right now as we speak. People don't realize that we've NEVER had a bear market in history. This is the first time and so it will be bloody. Conservative estimates are 4-5k. If you think that's laughable, just remember that people were laughing at the possibility of 8k two weeks ago.

>> No.7260020

>>7259852
30k BTC can happen only under following conditions:
- Tether audit passes or regulators come to a settlement with exchanges similar to bank reserves
- LN gets adoption. Thanks to KYC regulations for LN hubs, governments can track all the money flow in BTC network
- John McAfee says that he will eat his own dick if BTC doesn't reach 30k in April

BTC and the whole market will go to shithole under following conditions:
- Tether implodes (audit fails and most exchanges go down with it)
- LN mainnet exploitations

That would really cause the price to go down to shithole of 1-2k

>> No.7260045

>>7260006
I shorted the fuck out of it.

> Realizing that this asset has never had a bear market makes you a pussy.

You're literally a fanboy.

>> No.7260092

>>7260010
Doesn't most of the TA say 7.5K?

>> No.7260097

>>7260010
>no bear market in history. was clearly out of this world when people got goxxed
What was the timeline of 2014-2016? Are you from a different timeline?

>> No.7260137

>>7260097
That was a false bear market, IMO. It was caused by the Mr. Gox crash rather than fundamental factors (market exhaustion)

>> No.7260144

>>7259871
The Jibrel experience, everyone.

>> No.7260156

>>7260045
It has had a bear maket retard. After the gox hack it dropped 90% and had a multi year bear market, where the weekly RSI was oversold. Unless something on the same level happens, your short is going to get FUCKING REKT.
I can't wait to be honest.

>> No.7260166

>>7260097
That was not a real bear market. That was based upon a huge vulnerability. There has been no bear market that exploits the fundamental fucking fact that Bitcoin is slow as fuck and has no use case as a currency: what it was built for in the first place.

>> No.7260186

>>7260156
That is not what is classified as a bear market. It's called a fucking crash. Holy fuck, where did all the smart people go in this board?

>> No.7260187

>>7260020
we still win though because people believe it will go back to 20k. which it probably will again idk when though

>> No.7260220

>>7260187
That's exactly why it rose so much. But the speculative bubble is now over. It will only ever rise now based upon fundamental value, and as of now, there is none given its high volatility and failure to fulfill its original purpose: to be used as a currency. I urge everyone to take their "HODL BTC <3" goggles off and take a look at reality.If you made your money, it's great, but don't lose 80% of it.

>> No.7260334

>>7260186
It was a crash folliwed by a bear market dummy. Get a grip

>> No.7260385

>>7260334
You're retarded. It was a crash based upon a fucking hack. It had nothing to do with the asset being overpriced and overbought in general. This crash will be bloodier because it's based upon fundamental reasons.

>> No.7260389
File: 167 KB, 600x574, 1516528084178.jpg [View same] [iqdb] [saucenao] [google]
7260389

>>7259750

hadn't even thought about an actual bear market ... as so far "bitfinex tether - official news" ~ 24 hours later plebs catching up > no longer fud > ... reaction the drop we've just seen

the 400B MarketCap doesn't mean shit the tokens are just lumped in value ... while the actual money put in might not even be 80B > ... tether is part of the most active circulating Billions ... not to mention bitfinex accounting for ~ 8% or more of the total active Volume

... tether is pretty much a scam confirmed and put intentionally in harms way (USD backed ...) to blow up with shitfinex

i don't like this ... and sure as shit not going to invest fiat again until bitfinex is officially crucified ... rather miss out on the "gains" than take this insane and very probable risk

>> No.7260446

>>7260389
Hey! Look! A smart person! Finally.

>> No.7260538

>>7260156
I actually agree with OP that 2014-2016 was hardly a real, natural bear market. It was more like 2017 was put off for a couple of years.

>> No.7260608

I love how the overwhelming majority of people shilling blockchain don't even know the first thing about cryptography.

>> No.7260664

>>7259750
>Blockchain companies will be the future
You are fucking retarded. The whole point of blockchain is to abolish companies alongside banks.

>> No.7260672

>>7260389
we will see one more surge during 2018

You'll see

>> No.7260706

>>7259750
This is my favorite part of faggots like you and this post

>I'm doing this to help you, not to unreasonably heighten your expectations.
2 minutes later
>I shorted the fuck out of it.
Haha just fuck yourself.

>> No.7260743

>>7260706
I shorted the fuck out of it because I thought the value would go down. If you think shilling on biz affects the price of a fucking asset like Bitcoin, you are severely deluded.

>> No.7260747
File: 44 KB, 1521x679, longf.png [View same] [iqdb] [saucenao] [google]
7260747

>>7259750
2k, here we come!

>> No.7260757

>>7260097
>What was the timeline of 2014-2016?
The guys who hacked Gox dumping his bags. Seriously.

>> No.7260799

>>7260389
No one gives a fuck about Tether and no one will do anything about Tether, tard.

>> No.7260906

>>7260799
Agreed, it's just an additional FUD factor. But otherwise things still hold true

>> No.7260920

>>7260020
So basically 30k will never happen.

>> No.7260990

do you all realize that people were telling that 1k, 5k or 10k will never happen

>> No.7261018
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7261018

>>7260743
I'm saying you're a lying sack of shit with an ulterior motive.
>im just trying to help you out of the goodness of my heart! this guy is just trying to trick youguys, i swear guys its going down, really it is, don't believe that guy he's just trying to rob you!
>meanwhile he's fucking shorted the fuck out of it

>> No.7261061

>>7259887
If you would’ve listened two months ago you would’ve avoided this crash. Yet, you still won’t listen.

>> No.7261147

>>7259750
>This is a speculative asset that is overpriced and fundamentally does not have value: it can't ever be used as a currency until it becomes stable.

DIGITAL GOLD

>> No.7261163

>>7260920
It will happen eventually. Idk if April 2018 is the month for it. We might see 2k this month and 100k EoY. Anything and everything is possible. I made this statement based on what I know in the market.

OP has a point. BTC as of now with it's technical limitations is not a currency but an asset. A well overbought one as well. From an investors perspective, it is retarded to invest in an asset when it is overbought.

>> No.7261193

>>7260389
Don't bother wasting your time, you're talking to cultists here, fucking stupid ones at that.
>ohmygawd somebody shorted something that's going down, kill the jew!!!

>> No.7261211

>>7260389
>>7260446
I was actually interested in what you had to say until you brought up tether being a scam. If you haven't figured out how it works by now, you're either retarded, never even tried to look into tether, or you're being payed to FUD. And given the Riplet shills the latter is not far fetched at all.

>> No.7261284

>>7261193
Fuck off back to plebbit, kike. No one asked you to stay after you came from there.

>> No.7261370
File: 298 KB, 1000x1000, pol_moot.jpg [View same] [iqdb] [saucenao] [google]
7261370

>>7261284
>u r a kike
>squawk squawk
heh I was on /pol/ before it was /pol/, I knew you frogposting cunts would eventually kill it

>> No.7261393

>>7261061
I shorted the 17k bulltrap, but the shit is over now.
Faggots like this are going to get rekt again, just like always.
Screencap it.

>> No.7261395

>>7261211
Kindly explain how it works in a none scam way.

>> No.7261414

>>7261395
bitfinex has 1.2 bil in btc

exchnages buy tether from bitfiniex


>hurrdurr they cant have the money

>> No.7261468

>>7261211
I never claimed it was a scam. But they have provided no evidence that it is backed. Even if it is backed, you show proof first, and given that the market relies upon this, that's unacceptable.

>> No.7261513

>>7261370
>le oldfag
No oldfag brags about being an oldfag, newfag. Thanks for exposing yourself. You couldn't even 'remember' what it was called before. FYI it was /news/ and FYI your pic further exposes how new you are because Pol grew after the people who made /b/ tolerable grew up and migrated there because it became a cesspool of ugly abominations trying to be traps, dick rate threads, and fb fap threads.

>killing the most popular board in all of 4chans history by far
Deluded kike.

>> No.7261548

>>7261395
There are a million fucking tether threads up every day all day. For the love of god just hop into at least 20 of them, you'll figure it out eventually. I'm not typing all of this shit for the 1000th time.

>> No.7261551

>>7261414
So they use tether to prop up bitcoin, and bitcoin to prop up tether. You do not see a problem there?

>> No.7261590

>>7261548
Because you can't explain it in a none scam way. That's my point. Unless they have cash on hand, and not BTC, they are not solvent.

>> No.7261623

>>7261590
Oh yeah. Totally. Thanks for clearing that up.

>> No.7261658

>>7259990
my same concern
imo whales are wash trading so they can dump at a higher price small amounts or crash the market again

>> No.7261692

>>7261623
Well reasoned argument. I expected nothing less.

>> No.7261724

You guys are full of bullshit you're literally every financial expert who hated bitcoin before november.
Get out, you don't deserve the gains.

>> No.7261801

>>7261692
>trying to goad me into typing a paragraph of info when there are 1000 threads on this daily
>followed by you being a deliberately dense idiot the whole way through
>thinking I'll put in the effort when 1000 people in each of those 1000+ threads have already put forth the effort
Last reply. I don't care if you figure it out or not.

>> No.7261829

>>7261193
>you're talking to cultists here, fucking stupid ones at that.
I think the situation was not so dire back in summer. We desperately need a cleansing purge to get rid of all these december fags.

>> No.7261910

>>7261163
LN won't get adopted because it's a really stupid solution (centralized liquidity & economy) and Bitfinex will never get audited because, well, 1 billion were printed just last month. Not even entire countries can do that.

I don't see reason for Bitcoin to go beyond 10k given current market conditions.

>> No.7261968

>>7261801
You typed a god damned paragraph to tell me you won't type a paragraph.

>> No.7261974

>>7259750
BULL TRAP DONT BUY THIS SHIT YET ITS GOING BACK TO TEST 7K

>> No.7262024

>>7261910
LN is about blockstream trying to create a revenue stream. Not about fixing the problem.

>> No.7262079

>>7259750
First of all the correct way to counter baseless TA is not through baseless TA. You're statement is literally it will go down because it is overpriced, it is overpriced because it is not useful at its price, it will get more useful as it goes down. Do you not see how retarded that is?

>> No.7262242

my dial up internet used to disconnect if somebody in the house answered the phone. As if bitcoin current limitations can be considered "market exhaustion" when 90% of people have no clue about it

>> No.7262338

>>7262242
But in all honesty, 90% don't need it. The current most widespread use of bitcoin is "put some money into it and wait till it grows". Do you know how it's called?

>> No.7262549
File: 29 KB, 503x258, bitfinexed.jpg [View same] [iqdb] [saucenao] [google]
7262549

>>7261211

its called circumstantial evidence ... if it looks like dog, barks like dog, behaves like a dog ... you know its a dog - no need to probe its anus

but even that was tried > audits > "tries to bite, barks loudly"

never mind the fact that bitfinex got hacked several times and might've been planning their "exit" all along ...

i repeat as with many things you can't look into its evident in its entirety of circumstances

in addition to that read the tether TOS ... and sleep on it ... this thing is being discussed since Sept. and earlier

>> No.7262613

>>7262549
They just posted there audits this weekz and r moving to new york

POOR RETARD BTFO AGAIN!!!

>> No.7262647

>>7262024
I know, but most of these fags believe LN is actually a real improvement.

>> No.7262825

>>7262613

you're a fool ...

>In September 2017, the company released a document entitled "proof of funds," allegedly showing that it had the required reserves. However, it was far from clear and the names of the banks were blacked out.

> Furthermore, Friedman LLP, the accountancy that carried out the audit, has cut ties with Tether. According to a report from CoinDesk last week, the two parties had "dissolved" their relationship. (Jan 27, 2018)

> news4allplebs: U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether (January 30, 2018)