Is anyone else starting to become a bit excited?

unkel · 13-03-2020 02:38AM

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

JJJJNR · 13-03-2020 02:41AM

2900 then bounce.

Dohnjoe · 13-03-2020 02:48AM

unkel wrote: »

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

All total guesswork: when/if Corona situation starts to look better, would reckon there will be a jump to a point, then a hangover bear for a good long while

Regardless of traditional investments, who will want to go into something that can do almost 50% across the board in 48 hours - in reaction to something it was "supposed" to hedge against. Crypto's own "black swan".

Bob24 · 13-03-2020 02:52AM

unkel wrote: »

Jaysus!

40% down in just one day, now just USD4700

Anyone dare put any predictions in? Further down? Or back up? What will it be at the end of this month, at the end of June, at year end 2020?

Besides hand gel, every asset class is being dumped at the moment (even gold although it does best). So I'd say for the time being BTC I tight to coronavirus news and the stock market (meaning more losses). And I don't think technical analysis and support levels matter as much ATM - we are in panic mode on every market with many people who are selling to rase cash no matter what.

As to where it stops and how much it can recover ... no, I am not brave enough for predictions :-)

Arrival · 13-03-2020 02:53AM

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q85dw7osi4lebg · 13-03-2020 05:13AM

Hard to stomach that today now. I've just bought big on BTC sub 5k, getting twice as many sats as I was two weeks ago is hard to wrap my head around. I'll probably hold off the DCA'ing now until the halving.

grindle · 13-03-2020 06:51AM

https://reason.com/2020/03/12/federal-reserve-promises-a-trillion-plus-in-short-term-loans-to-banks/

All makes for interesting times I guess!

Anybody thinking that the whole space disintegrates as vaporware makes as much sense as the people who think these are the days of World War Z. Businesses are going to go through a tough time, most people with capital are going to want at least some of their money outside of speculative assets to reinvest when there's a bounce and a sense of positivity.

Worst case scenario with this virus (imagine everybody becoming an carrier) is a huge amount of people 50+ with pre-existing conditions die. Terrible if it happens and we'd all know somebody touched by it, if not ourselves, if it happens - but the world continues to exist. Economies will continue to exist. Companies will still need investors. Any crypto that has a valid usecase will still be useful to people/businesses/organisations that want to use them.

Maybe that takes months if things level off as they are right now, maybe a few years if it gets Spanish Flu-esque. The world still turns, y'know?

Pintman Paddy Losty · 13-03-2020 12:35PM

Ha! I thought bitcoin was "digital gold".

I thought that it was a safe haven uncontrolled by duplicitous central banks and a great place to put your money to avoid a recession caused by the fiat system?

What is going on?

caff · 13-03-2020 12:43PM

Pintman Paddy Losty wrote: »

Ha! I thought bitcoin was "digital gold".

I thought that it was a safe haven uncontrolled by duplicitous central banks and a great place to put your money to avoid a recession caused by the fiat system?

What is going on?

Bitcoin and gold are illiquid, can't purchase things quickly with them. Cash and bonds are king right now.

Pintman Paddy Losty · 13-03-2020 12:48PM

caff wrote: »

Bitcoin and gold are illiquid, can't purchase things quickly with them. Cash and bonds are king right now.

I thought cryptocurrencies are revolutionising the way we make payments? Instantaneous, safer and cheaper than traditional banks?

Granted I haven't really been around these parts in a long while, but I presumed most of the barriers would have been removed by now? Is that lightning network not up and running? Has crypto not shown many valuable and effective use cases yet?

There's a global crisis at the moment. People all around the world are remaining in their homes. Surely now is the time for global digital currencies with trust built in to shine? No?

SteelyDanJalapeno · 13-03-2020 12:48PM

I love how a drop in price brings out the same old dregs in this thread

jimmii · 13-03-2020 12:50PM

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

You would think they would have better things to do but guess they're sat at home with nothing to do. Mods are going to be extra busy for a while!

makeorbrake · 13-03-2020 01:28PM

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

Take no notice - it's just sour grapes. I don't know how the germans came up with 'shadenfreude' first...would have been more apt for the irish to come up with it.

Gold has also gone down - as asset managers cover leveraged positions in the regular market. When a broader recession follows, it's logical that both will be hit as people scramble for funds to cover debts and expenses. It's what happens after that - that will be of most interest.

Grumpypants · 13-03-2020 03:22PM

Investments go up and down in the short term. But you should invest long term

Lex Luthor · 13-03-2020 05:08PM

I see a few crypto youtubers are now doubting the future big price action of BTC

The rest bite today was a welcome break but dont think we are out of the woods yet

I considered doing a small short last night before going to bed but it was too volatile...I woke up at 2am and had a quick look at my phone and seen the price was €3800, I nearly $h!t the bed

q85dw7osi4lebg · 13-03-2020 05:27PM

Lex Luthor wrote: »

I see a few crypto youtubers are now doubting the future big price action of BTC

The rest bite today was a welcome break but dont think we are out of the woods yet

I considered doing a small short last night before going to bed but it was too volatile...I woke up at 2am and had a quick look at my phone and seen the price was €3800, I nearly $h!t the bed

Crypto YouTubers are Bybit shillers and nothing else, a stain on the industry.

One or two make ok calls but I don't know anybody who called this drop.

Most are traders too with weak hands not hodlers like myself and a few in here.

Thargor · 13-03-2020 05:35PM

SteelyDanJalapeno wrote: »

I love how a drop in price brings out the same old dregs in this thread

Its just the one dreg with two accounts. Remember when his boast about having and using multiple voting cards in a referendum didnt go down as well as he'd hoped then the other account suddenly appeared to say that he just happened to be a multi-voter aswell and it was totally normal lol

FFVII · 13-03-2020 05:56PM

Thargor wrote: »

Its just the one dreg with two accounts. Remember when his boast about having and using multiple voting cards in a referendum didnt go down as well as he'd hoped then the other account suddenly appeared to say that he just happened to be a multi-voter aswell and it was totally normal lol

Admin tools check alot. Even for writing similarities.

I'm sure he was reported by some on here so if he still here then....

Plus, I see nothing wrong with his posts, you just have to disagree with one or two on here to be a "dreg" whatever that is.

Lex Luthor · 13-03-2020 06:31PM

Addison Fancy Macrame wrote: »

Crypto YouTubers are Bybit shillers and nothing else, a stain on the industry.

One or two make ok calls but I don't know anybody who called this drop.

Most are traders too with weak hands not hodlers like myself and a few in here.

I've cooled the jets on any trading now....everything is on the Ledger Nano and I'm switching off crypto for a while.
I'll set up a few alerts on the phone app in case anything goes wild but yesterdays action was enough for the year

JohnnyFlash · 13-03-2020 08:10PM

jimmii wrote: »

You would think they would have better things to do but guess they're sat at home with nothing to do. Mods are going to be extra busy for a while!

I presume that is aimed at me. I've had to say it many times before, but I'll say it again for clarity - I don't take any particular pleasure in people losing money on this odious ponzi scheme. Not the rubes anyway. I do love the idea of sociopaths like Wright, Justin Sun, Pomp etc losing their bollocks.

What I don't like is how the rubes try to rope new blood into the crypto ponzi. This takes many forms - FOMO, the halving, fundamentals, 200 (or other random figure) DMA, distributed finance, store of value etc etc. They make this attempt to confuse new blood by using technical mumbo-jumbo that they don't understand themselves.

I've toned down significantly in my use of language to show how contemptuous I find all this.

jimmii · 13-03-2020 09:00PM

JohnnyFlash wrote: »

I presume that is aimed at me. I've had to say it many times before, but I'll say it again for clarity - I don't take any particular pleasure in people losing money on this odious ponzi scheme. Not the rubes anyway. I do love the idea of sociopaths like Wright, Justin Sun, Pomp etc losing their bollocks.

What I don't like is how the rubes try to rope new blood into the crypto ponzi. This takes many forms - FOMO, the halving, fundamentals, 200 (or other random figure) DMA, distributed finance, store of value etc etc. They make this attempt to confuse new blood by using technical mumbo-jumbo that they don't understand themselves.

I've toned down significantly in my use of language to show how contemptuous I find all this.

No not you. Totally agree with what you say about how some stuff is put put there to drum up money from people who don't quite have any business putting money in. Some of the crap you see on Twitter you have to think come on you aren't really believing that crap you're posting are you! The people just coming in to gloat and not contribute and essentially just troll are the issue.

Thargor · 13-03-2020 09:49PM

I dont see any noobs getting fleeced around here though so no idea why the dregs spend so much time educating us with their monumental wisdom, this board is pretty much all traders and pretty cynical ones at that. The way they disappear during times of gains and slink back in during a big fall is pathetic tbh.

grindle · 13-03-2020 10:01PM

Thargor wrote: »

I dont see any noobs getting fleeced around here though so no idea why the dregs spend so much time educating us with their monumental wisdom, this board is pretty much all traders and pretty cynical ones at that. The way they disappear during times of gains and slink back in during a big fall is pathetic tbh.

^^^

Dear noobs, if you're not prepared to lose it all, put nothing in.

Signed,

The rubes.

cnocbui · 13-03-2020 10:52PM

JohnnyFlash wrote: »

I presume that is aimed at me. I've had to say it many times before, but I'll say it again for clarity - I don't take any particular pleasure in people losing money on this odious ponzi scheme. Not the rubes anyway. I do love the idea of sociopaths like Wright, Justin Sun, Pomp etc losing their bollocks.

What I don't like is how the rubes try to rope new blood into the crypto ponzi. This takes many forms - FOMO, the halving, fundamentals, 200 (or other random figure) DMA, distributed finance, store of value etc etc. They make this attempt to confuse new blood by using technical mumbo-jumbo that they don't understand themselves.

I've toned down significantly in my use of language to show how contemptuous I find all this.

Many people heavily invested in equities have lost their shirts and even pensions - far more serious consequences than people taking a punt with cryptos.

All forms of 'investment' are ponzi schemes, predicated on someone willing to pay you more in the future than you paid for your house, land, gold bar, shares in Ryanair, Bitcoin or limited edition Royal Jubilee tea cup. People used to even consider postage stamps as sound investments, until email came along and spoiled the fun.

Dohnjoe · 14-03-2020 12:32AM

cnocbui wrote: »

All forms of 'investment' are ponzi schemes, predicated on someone willing to pay you more in the future than you paid for your house, land, gold bar, shares in Ryanair, Bitcoin or limited edition Royal Jubilee tea cup. People used to even consider postage stamps as sound investments, until email came along and spoiled the fun.

Shares are literally a "share" of a company, if the company performs well, the share value technically rises (they often produce dividends). Land is a scarce resource that, with the odd crisis aside, generally goes up in value over time and produces rent. Bonds is debt that produces interest payments, e.g. your high interest South American debt is higher yield but much more of a risk than your US treasuries.

These are tangible things where underlying value can be calculated.

Most cryptos are a different beast altogether.

JJJJNR · 14-03-2020 11:03AM

It's not over till the fat lady sings.

Even if the price of bitcoin and other cryptocurrencies are tanking it's under the holders control if they as weak hands want to sell. We are at the early stage of this corona virus and it's still to early to predict if there will be a run on the banks so belittle people all you want look at the signs they are there, mocking is catching as my mother used to say... the banking and social system is being held together with chewing gum at the moment.

FFVII · 14-03-2020 11:40AM

JJJJNR wrote: »

It's not over till the fat lady sings.

Even if the price of bitcoin and other cryptocurrencies are tanking it's under the holders control if they as weak hands want to sell. We are at the early stage of this corona virus and it's still to early to predict if there will be a run on the banks so belittle people all you want look at the signs they are there, mocking is catching as my mother used to say... the banking and social system is being held together with chewing gum at the moment.

What signs?

JJJJNR · 14-03-2020 12:25PM

Signs of a recession, 40% decline in stocks, corona virus, uncertainty.

Bob24 · 14-03-2020 01:03PM

JJJJNR wrote: »

Signs of a recession, 40% decline in stocks, corona virus, uncertainty.

Recession is pretty much a given at this stage.

But how it will play out for BTC is very hard to predict.

cnocbui · 14-03-2020 01:04PM

Dohnjoe wrote: »

Shares are literally a "share" of a company, if the company performs well, the share value technically rises (they often produce dividends). Land is a scarce resource that, with the odd crisis aside, generally goes up in value over time and produces rent. Bonds is debt that produces interest payments, e.g. your high interest South American debt is higher yield but much more of a risk than your US treasuries.

These are tangible things where underlying value can be calculated.

Most cryptos are a different beast altogether.

Shares being a 'share' in the company is meaningless, as is the 'technical value'. You can not demand that someone purchase your share for it's fraction of the company's NAV or 'fair value' or any other metric. Warren Buffet is famously one of the richest men on Earth precisely because he purchased shares where the share market value was below the supposed technical value, which rather highlights what my point is - the value isn't intrinsic, it's only what someone is willing to pay you.

Under Steve Jobs, Apple shares didn't pay any dividend, even when they were minted. Holders were entirely reliant on Ponzi scheme market value - finding someone to buy them from you. Many, if not most companies are like this.

Shares that do pay a dividend are an entirely different beast and do have a value beyond the whim of the market, so I will concede you that one. But that is a potentially ephemeral value as a company can decide to stop paying dividends, as some do.

Property is a scarce resource, but it has no value beyond what someone else is prepared to pay you for it. I expect the 'value' of any property you and I own in this country is about to slide, shortly. This will be the second such event in a decade. So much for your generally goes up theory. Trust me, I wish it did. I was rather hoping to be in a position to sell my house later this year, now I doubt that will be possible without making a loss.

Value is not intrinsic, it's a figment of peoples imagination. It's illusory, as proven by the recent share market crash, and the others over the last century.

Is anyone else starting to become a bit excited?

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