[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 59 KB, 658x662, C8529ADE-25B1-4148-9572-3C50FF08C15F.png [View same] [iqdb] [saucenao] [google]
7330752 No.7330752 [Reply] [Original]

Please help a confused brainlet understand what kicked this crash off

>> No.7330855

>>7330752
People realized that crypto is a ponzi

>> No.7330924

Who gives a fuck, learn to read a chart, going down, sell, going up, buy.

>> No.7330929

>>7330752
normalfags
>haha im gonna get rich in a year!
>10% down? WTF is this SCAM??? I AM PUTTING ALL MY MONEY OUT!

>> No.7330973
File: 62 KB, 638x134, tulip manipulation.png [View same] [iqdb] [saucenao] [google]
7330973

manipulation

>> No.7331000

>>7330752
market manipulation as usual.

>> No.7331012

>>7330752
>tether
>india fud
>korea fud
>bitconnect exit scam

>> No.7331014

>>7330752

1. What he said >>7330855

2. In late december, the real markets (via CBOE) finally started legitimate investors to short bitcoin.

3. alt coins are a risk play. When the stock market drops, being are less willing to throw money into high risk plays.

4. The crash has crushed all the people who dumped their life savings into coins. There are no new investors willing to lose money.

5. Bitcoin has no intrinsic value. It's really value in an open market (which we have as of december) is $100 or less

>> No.7331049

>>7330752
((()))

>> No.7331143

>>7330752
regulations, bans, tether worries, and the fact that we were going almost straight up for a couple months

>> No.7331229

>>7331014
Point 2 makes a lot of sense thank you

Any predictions on if this SEC hearing will be an encouragement or discouragement?

>> No.7331257

>>7330752

whales are accumulating

>> No.7331258
File: 26 KB, 1614x164, tripsoftruth.png [View same] [iqdb] [saucenao] [google]
7331258

>>7331000
more trips of truth. I got them last time I posted but of course no replies.

>> No.7331308

Vapor ware technology + ran out of dumb money

>> No.7331320

>>7330929

This. Plus Facebook removed all crypto adverts because greedy pajeets and chinks utterly flooded them with scamcoin ads. As soon as that happened the whole thing went into free fall because apparently half the industry IS based on conning gullible normies.

>> No.7331349

>>7331258
You can't be this retarded

>> No.7331358

>>7330752
Too much normie money and hype blew up our nice little ponzi.
Should have saw it coming when news channels started showing soccer moms buying crypto for their kids savings fund in late november/early december.

>> No.7331365

>>7330752
Tether and ETF, as well as exchangers multiplying BTC due its store role.

>> No.7331408

>>7330752
7 months of bull-run frenzy and over-inflated prices.

>> No.7331424

>>7330752
this whole shit is nothing like a huge hype without a single useful technology coming out of it.

>> No.7331456

>>7331012
BITCONNEEEEEEEEEECT

>> No.7331458
File: 34 KB, 540x378, 1517551499531.jpg [View same] [iqdb] [saucenao] [google]
7331458

Anon.. You don't know the Bogdanoffs?

>> No.7331469

>>7331229

Neither. They will probably talk about the technology of blockchain, and how it can be used in normal companies.

They will make no bet about bitcoin, etc, but they WILL talk about how the crazy price swings in all cryptos suggests that the markets need to be regulated.

So maybe a net negative.

>> No.7331515

>>7330752
>lease help a confused brainlet understand what kicked this crash off
Markets are a cycle. Learn that or get out.

>> No.7331533

>>7330752

normies getting fucked by xrp, trx, bitconnect

>> No.7331781

>>7331014
>bitcoin has no intrinsic value
Literal fucking newfag brainlet

>> No.7331904

>>7331458
Redpill me about these guys

>> No.7332115
File: 13 KB, 925x277, bottom.png [View same] [iqdb] [saucenao] [google]
7332115

>>7330752
Operation pump and dump started at the start of 2017 and it ended the crash of 2013

Bitcoins real value is the value it was right before the 1st day of 2017 which is what all the smart people will be buying back in at

>> No.7332127

>>7331904
they learned fluent french in a week

>> No.7332132

>>7331781

Better read a book on markets.

Bitcoin has no intrinsic value.

>> No.7332302

>>7330752

Really, nothing but weak FUD snowballing by weak cucks

>> No.7332407

>>7330752
nothing really happened, normies just pumped it up and when they saw a 10% drop they panic sold, that caused the price to drop a bit more, which caused even more normies to panic sell, repeat until today

>> No.7332547

>>7332132
I’ve read dozens of books on markets.

Block chain has intrinsic value

>> No.7332695

>>7331049
>((()))
imagine the parentheses are like pillows you've squished to either side of your head to prevent you from dealing with a complex world

>> No.7332800

>>7332115
Last bubble was 20x smaller than this one. That means the next one will be 20x larger, and it will come 20x sooner

>> No.7332831

>implying things happen because of reasons

>> No.7332963

It was a coordinated plan by the exchanges to close off new accounts for the entire month of January. No new money coming in = price move sideways. Combine this with the regular January dip. Normies getting out, institutions getting in. I believe the real game has yet to come

>> No.7332977

>>7332547

Yes, blockchain has value. But blockchain is not the same as bitcoin.

Blockchain is non-proprietary software, which means anyone can use it without paying anyone.

So while blockchain has value, and will be used more and more in the future, that doesn't mean that BITCOIN has to be used.

And, in fact, it won't, because it's much easier cheaper, and better for others do it on it's own.

Bitcoin has no intrinsic value because...

1. The market for it is low (people wanting to do black market purchase)

2. Legitimate consumers care more about convenience than secrecy.

3. Big banks can already do everything (of value) that bitcoin can with their existing system.

Yes, there will always be a small group of anti-government types who want off the books money, but that group isn't big enough to support bitcoin, especially since there aren't enough places you can use it for it to go mainstream.

>> No.7333135

>>7332977
Finally someone with half a brain

>> No.7333152

>>7332547
>Block chain has intrinsic value

this is like saying "cooking" has market value. it's not a commodity but a technological process and its only value is in its implementation. it's literal fucking code that you can copy and paste which has been done thousands of times already. bitcoin is PURELY speculative, there's nothing attached to it besides the power required to generate it. the real "value" of blockchain is in its implementations in the real world used by governments and corporations, e.g. transaction ledgers, which kind of contradicts the point of bitcoin