Bitcoin....who's gotten into it?

[Whiteroom_Guardian]

Monero. You want to buy Monero.

Sent from my SM-G930V using Tapatalk

[splat]

I have kinda envisioned multiple versions of that story playing out the last few weeks, Not Bunion. I can't imagine how people who bought at $18K feel about now.

You quoted skougar, dude!

[Boomer28]

Look out below....guess there is pretty high correlation to equity markets...

Oh and the fact all the major card issuers are banning using your plastic to purchase is not helping:

https://www.bloomberg.com/news/artic...id-stocks-rout

"Weeks of negative news and commercial setbacks have buffeted digital tokens. A growing number of big credit-card issuers have said they’re halting purchases of cryptocurrencies on their cards, including JPMorgan Chase & Co. and Bank of America Corp. Several cited risk aversion and a desire to protect their customers."

[summit]

Oh and the fact all the major card issuers are banning using your plastic to purchase is not helping

You can't usually buy stocks with a credit card either.

Surprise they don't treat like a cash advance on a foreign currency (it is a currency, right guys?) and charge people buku.

BTC->7200 where are all dem pros?

[Boomer28]

You can't usually buy stocks with a credit card either.

Surprise they don't treat like a cash advance on a foreign currency (it is a currency, right guys?) and charge people buku.

BTC->7200 where are all dem pros?

Of course not which is important now that they are shutting this down as the world catches up to this mania....

And yea...I thought all the pros were "defending 10k" LOL

[summit]

Of course not which is important now that they are shutting this down as the world catches up to this mania....

And yea...I thought all the pros were "defending 10k" LOL

apparently their defenses were overwhelmed by market forces... even the special meme forces failed to "hodl"

[splat]

My condolences to those who pwned the hodl.

[liv2ski]

Damn......from around $20k to that in what, a few weeks? Talk about jumping off a building and shit will get real once it is back to sub $1k in value.

[summit]

Makes penny stocks look like a bastion of stability... or horse racing...

[Boomer28]

Makes penny stocks look like a bastion of stability... or horse racing...

Don't forget scratch tickets and claw machines at the arcade....

[4matic]

If the bulls don’t step up right here there is no support. No mans wasteland.

[liv2ski]

If the bulls don’t step up right here there is no support. No mans wasteland.

I always thought Bitcoin was the equivalent of modern day Tulip Bulb investing, but shit, even those didn't go through the roof and then get crushed so fast.

[ICantLogIn]

Think a major stock market correction would also take down crypto? Thinking it will. The Btc maximalists think it's like gold, but I think panic would spill over to "magic internet money" in a hurry. Plus, if crypto was unaffected, who wouldn't cash out a little to scoop up some deals on stocks.

This

[4matic]

Using the stock market as an excuse for BTC decline is ridiculous. You don't create correlation of this magnitude in six months.

[summit]

Using the stock market as an excuse for BTC decline is ridiculous. You don't create correlation of this magnitude in six months.

Exactly...
S&P off 5% from its high on 1/26.
BTC is off 36% from 1/26

BTC is off 65% from its high on 12/15
S&P is UP 2% from 12/15

There is no fucking correlation much less causation

[ICantLogIn]

Oh and the fact all the major card issuers are banning using your plastic to purchase is not helping:

https://www.bloomberg.com/news/artic...id-stocks-rout

"Weeks of negative news and commercial setbacks have buffeted digital tokens. A growing number of big credit-card issuers have said they’re halting purchases of cryptocurrencies on their cards, including JPMorgan Chase & Co. and Bank of America Corp. Several cited risk aversion and a desire to protect their customers."

With the dow pulling back the banks are going to want people to move from crypto to fiat, but they are blocking them now.

[4matic]

With the dow pulling back the banks are going to want people to move from crypto to fiat, but they are blocking them now.

You believe that? Wow..

Price right here for btc $7k is the lowest risk buy in a while. Less than 10% risk on the initial trade.

[skaredshtles]

With the dow pulling back the banks are going to want people to move from crypto to fiat, but they are blocking them now.

Pssst... crypto is *also* fiat.

Just so we're clear.

[Stu Gotz]

Pssst... crypto is *also* fiat.

Just so we're clear.

Maybe I have my sarcasm detector turned off. But Crypto is the exact opposite of fiat money.

[Boomer28]

You believe that? Wow..

Price right here for btc $7k is the lowest risk buy in a while. Less than 10% risk on the initial trade.

Based on what exactly? So now at 6.8k it must be a SUPER ULTRA EXTREME low risk?

Let's be clear, the risk with bitcoin is it goes to ZERO. Sure currencies can move and stocks can have big off days like today but the concept of fundamental value just seems to be missing here...

[4matic]

Based on what exactly? So now at 6.8k it must be a SUPER ULTRA EXTREME low risk?

Let's be clear, the risk with bitcoin is it goes to ZERO. Sure currencies can move and stocks can have big off days like today but the concept of fundamental value just seems to be missing here...

Bounce off 62% retrace followed by move lower than the previous low of the 62%. I attach no intrinsic value to BTC and the timeframe of the trade is the hourly chart. Stop at previous low minus 5%.

Timeframe and risk defined.

[summit]

Bounce off 62% retrace followed by move lower than the previous low of the 62%. I attach no intrinsic value to BTC and the timeframe of the trade is the hourly chart. Stop at previous low minus 5%.

Timeframe and risk defined.

Now that is funny!

[4matic]

It’s all in fun. We see how it works. A move above the previous low of $7600 and I move stop to break even.

[skaredshtles]

Maybe I have my sarcasm detector turned off. But Crypto is the exact opposite of fiat money.

So please explain to me what crypto is backed by which makes it something other than fiat currency?

I'm all ears.

[Whiteroom_Guardian]

I'm sure I posted it somewhere in here in the last few months. $5k BTC in Q1 of 2018 was expected by the longterm analysts. This big correct is not a surprise to most of us.