Economy Bitcoin/Crypto is imploding

[WhiteMousse]

@Rob Battisti how much will it drop

 

[BlankaPresident]

It's okay, bud, that's fine.

I've followed these threads and my scepticism of crypto is for the reasons that I'd like to sell when I want, not when the market dictates. Other than that, I've watched as prices crashed then rebounded and it would seem there's money to be made - if you're prepared to sell, of course.

Lot of people talk a little too much about riding things out, but you have to sell at some point. By all means reinvest, but it's just illogical to me to sit on a massive portfolio of crypto and just watch it given the volatility.

I do believe your passion will have paid off, so no receipts necessary.

As one wise man once said:

Level in, level out.

 

[HOLA]

@Rob Battisti how much will it drop

Tell us Rob.

 

[b34stmode]

I think 38,000-40,000 is the absolute bottom. IDK if it will drop THAT far though, I think 56,000-58,000 is realistic. Its going to be down in the 55-80k levels for a bit IMO. We will see though, the bottom is really whatever the whales want it to be in the end.

 

[LMP]

I think 38,000-40,000 is the absolute bottom. IDK if it will drop THAT far though, I think 56,000-58,000 is realistic. Its going to be down in the 55-80k levels for a bit IMO. We will see though, the bottom is really whatever the whales want it to be in the end.

Im still holding my tulips and beanie babies and all those 1990s sports cards. Diamond hands.

 

[b34stmode]

Im still holding my tulips and beanie babies and all those 1990s sports cards. Diamond hands.

LOLD, beanie babies in mint condition probably go for a decent amount I would think. i was blown away by what some pokemon cards go for. I still have vivid memories of driving around to random stores to get the new beanie babies as a child.

 

[HOLA]

Im still holding my tulips and beanie babies and all those 1990s sports cards. Diamond hands.

At least when you buy a Tulip you get a pretty nice flower.

I dunno what you're left with after buying a Bitcoin...the ability to be really annoying on the internet, I guess.

 

[Rational Poster]

Im still holding my tulips and beanie babies and all those 1990s sports cards. Diamond hands.

The sports cards are actually worth a good amount right now, almost every American male over the age of 20 is a sport/gambling addicted zombie.

Two of my cousins work in the sport collectible auction business. lmao

 

[Brampton_Boy]

The hit to my account reminds me of the early days of COVID.

My pocket is hurting bigly.

 

[LMP]

LOLD, beanie babies in mint condition probably go for a decent amount I would think. i was blown away by what some pokemon cards go for. I still have vivid memories of driving around to random stores to get the new beanie babies as a child.

All the stuff is only worth what you can convince someone else to pay for it. Thats kind of the deal with collectibles. But the mania was to buy everything up because it will all be worth a bunch. Like if I recall one beanie baby sold for a million dollars. The card collecting is fine and all, but is ruined by people only buying to drive the market up for people that just enjoy it as a hobby.

 

[LMP]

The sports cards are actually worth a good amount right now, almost every American male over the age of 20 is a sport/gambling addicted zombie.

Two of my cousins work in the sport collectible auction business. lmao

The 1990 market when everything was over printed and no specials really to speak of is still bad.

 

[HOLA]

lol the #1 trending article on Seeking Alpha right now is about someone giving Bitcoin a price target of $0.

https://seekingalpha.com/news/4547997-bitcoin-s-price-target-at-zero

 

[Rational Poster]

The hit to my account reminds me of the early days of COVID.

My pocket is hurting bigly.

If only we had something like a securities exchange watchdog that could intervene during periods of obvious market manipulation.

We could call it the Securities and Exchange Commission.

 

[HOLA]

Wasn't there supposed to be something magical about $69,420? What happened?

Maybe it's $420.69 instead.

 

[MrShady]

Is it possible that bitcoin soared when Trump was elected and because he was the most friendly crypto admin people bought the rumors, and 1 year into his presidency the whales are realizing Trump isn't going to do much except pump his own bags and dump.

So why are people so confident this will rebound quickly? IF it rebounds, maybe it takes 2-3 years again?

 

[chimpoehurricane]

Bitcoin down 30% in 6 weeks, while Etherium down 40% over the same period. ALT/Meme coins are at 2022 lows.

Is this the start of a crypto-winter or just short term volatility as it continues to grind higher?

I have alot of crypto exposure due to some ETFs that I hold (down about 25K since October), but my plan is to hold and see how the next couple of weeks unfold. If bitcoin breaches $80K, I am out.

You must be new?

Crypto does this bro. Buckle up sunny Jim. You are in for a bumpy ride.


I can’t stand morons who celebrate ETFs. The Satoshi plan wasn’t about tradFI and black rock own 20% of bitcoin.

They broke fiat currency and are breaking crypto. The same people made money on the scamdemic.

 

[LMP]

Is it possible that bitcoin soared when Trump was elected and because he was the most friendly crypto admin people bought the rumors, and 1 year into his presidency the whales are realizing Trump isn't going to do much except pump his own bags and dump.

So why are people so confident this will rebound quickly? IF it rebounds, maybe it takes 2-3 years again?

I believe they think they can continue to convince people it is an asset, not just something that is unstable and will never be a replacement for backed currency.

 

[HOLA]

Is it possible that bitcoin soared when Trump was elected and because he was the most friendly crypto admin people bought the rumors, and 1 year into his presidency the whales are realizing Trump isn't going to do much except pump his own bags and dump.

So why are people so confident this will rebound quickly? IF it rebounds, maybe it takes 2-3 years again?

Few understand. We're looking at a classic reverse mirror rainbow curve Bart Simpson candle pattern right now. This signals clearly that the price will be $1 million in 10 years, possibly 5. We're still in the early innings. Buy now.

 

[HOLA]

Ooph. Close to $65,000 now.

Alright I'll reduce the schadenfreude for now. This is rough.

 

[Limbo Pete]

I believe they think they can continue to convince people it is an asset, not just something that is unstable and will never be a replacement for backed currency.

I mean, it makes sense for the few people who actually make a living via gambling to also think the non gamblers are idiots. But they'll never understand, or want to understand, the problem lol. It's not just about money with those guys, it's about feeling smart.