Bitcoin below 31K - how far will this go?

[maxmoney]

WOW WOW DAMN s**t

Bitcoin is going below 31,000 USD WTF.

Is it the end of the crypto era?

 

[010cents]

Stack bids pls.

 

[JohnnyDoe]

Yes it’s the end. Btc is going sub zero.

 

[369]

29k (could see first 34k)
38k
20k

Yes it’s the end. Btc is going sub zero.

it will after the last/final bull run like in the dot com bubble where people tried to catch a never ending falling knife

 

[void]

it will after the last/final bull run like in the dot com bubble where people tried to catch a never ending falling knife

it's incomparable to dotcom - bitcoin has perfect use case in this world and it will only grow in importance
there are zero alternatives for conservation of value

 

[369]

conservation of value LOL

Bitcoin is a PONZI run by bankers to promote and implement virtual money.
It has nothing to do with store of value.Today it can be 100k tomorrow 1k if the institutions wish this way.
Bitcoins price movements depends on people buying bitcoin for fiat/stablecoins.
As more people buys bitcoin as higher the price CAN go
which means people leaving bitcoin make the value fall
the worst part is that institutions control and dictate the price.
You are just a sheep they try to educate on virtual money and to milk and nothing more.
The only advantage you have is being early in that ponzi and nothing more.

 

[void]

conservation of value LOL

Bitcoin is a PONZI run by bankers to promote and implement virtual money.
It has nothing to do with store of value.Today it can be 100k tomorrow 1k if the institutions wish this way.
Bitcoins price movements depends on people buying bitcoin for fiat/stablecoins.
As more people buys bitcoin as higher the price CAN go
which means people leaving bitcoin make the value fall
the worst part is that institutions control and dictate the price.
You are just a sheep they try to aducate on virtual money and to milk and nothing more.
The only advantage you have is being early in that ponzi and nothing more.

I guess we need more time to conclude who was the naive idiot here

I can't see a believable scenario in which bitcoin will disappear as yet another dead end experiment and world will get out of hyperinflation and back to the cult of worthless fiat money created by criminal organizations bullying the world

 

[369]

I guess we need more time to conclude who was the naive idiot here

I can't see a believable scenario in which bitcoin will disappear as yet another dead end experiment and world will get out of hyperinflation and back to the cult of worthless fiat money created by criminal organizations bullying the world

because you are a blind fool

1.bitcoin is a bankers product who hold with partner institutions enough bitcoin to blow it to nirvana anytime they want (but they prefer to make another quick 2000% first)
2.when money goes virtual and more important the econemy centralized THEN the supplier of goods and services dictates which money is going to be used by accepting only specific money
3.Bitcoin is PoW where laws are already postponed to make PoW ilegal (2025)
4.bitcoin is no experiment but just a tool to promote virtual money for a smooth transition and running a test net bevor going live.
5.There will be no hyperinflation but just high inflation .The new CBDC's are constructed to be deflationary.
6.criminal organisation are pushing for a cashless society.......you still don't get it you are being fooled that this is an alternative to current banks.Its way more opressive but you just don't get it because they don't touch you currently till it will be fully implemented

have a look what they are doing with luna to get people out of that coin (CDR stablecoin) ........how much pain would you be able to receive

 

[backpacker]

I can't see a believable scenario in which bitcoin will disappear

BTC will not disappear but the comparison to dot-com is valid and people who do not see the similarities are simply naive.
Ask yourself: Did MySpace disappear? Well, in theory it is still there - just that it is not usable anymore.

The reality for crypto is: There are to many small Newbies who are now panicking, exchanging their coins to fiat and therefore causing a downward spiral. Since there is no Plunge Protection Team, nobody stops this downward spiral. In fact, the current crypto collapse plays into the hands of governments (with the notable but irrelevant exception of El Salvador) and will expedite the adoption of CBDC.

It will not be long until we see a couple of Crypto Lending Platforms (who all pay unsustainably high interest rates to attract naive investors) will go bust.

 

[Golden Fleece]

Boy, has it been ugly in the markets this year.

This remains one of the worst starts to the year for investors ever, as nearly every asset class is delivering negative returns Year To Date:

• US Gov't Bonds: -11.2%
• US Corporate Bonds: -13.9%
• S&P 500: -16.8%
• NASDAQ: -26.6%
• Bitcoin: -34.1%

Even gold now only up +3.1% and far from the record high it hit in March.

 

[void]

BTC will not disappear but the comparison to dot-com is valid and people who do not see the similarities are simply naive.
Ask yourself: Did MySpace disappear? Well, in theory it is still there - just that it is not usable anymore.

by ''disappearing" I obviously mean end of the growing trend

There are to many small Newbies who are now panicking, exchanging their coins to fiat and therefore causing a downward spiral.

sure, it's a good thing, these immature participants will be replaced by more solid ones willing to buy at discount price

if this would be an issue we would be already at 5-10k and honestly it would be no tragedy either (putting aside that this is basically impossible)

It will not be long until we see a couple of Crypto Lending Platforms (who all pay unsustainably high interest rates to attract naive investors) will go bust.

again, it's no problem and a good thing in the end, I totally agree these interest rates make no sense


I guess this is enough, I'm done persuading others, let's wait, I'm ready to lose my money and I hope you too because choice of non-participation is a business decision like any other

 

[algotrader]

This is a normal pattern if you study the history of BTC price. It usually has a drawdown of 70-80% from all-time-highs and then recovers. An asset with historical performance of >100% per year will necessarily have some volatility. I usually buy when the drawdown hits the -70% mark and all cryptophiles freak out. But it looks like BTC has gotten a bit less volatile over the past year, so this time it might well recover after -50%. Also, keep in mind that BTC is not a normal asset because its supply depends on mining activity, computing power and energy prices.

 

[010cents]

Might be irresponsible to say this but the best hedge without leaving crypto is UNUS SED LEO, the Bitfinex token. I got in earlier but that does not matter in BTC terms, BTC up LEO down, BTC down LEO up. Not only that but all the Bitcoin seized by the DoJ that got hacked out of Bitfinex will go towards buying LEO from the market within 18 months after they get it from the DoJ.

 

[Martin Everson]

Bitcoin is going below 31,000 USD WTF.

Is it the end of the crypto era?

Then next month its at $60,000 and end of year at $5000 then six months later up to $150,000....lol.

Crypto volatility is not for everyone sadly .

It will all end when the US wants it to and not until they have their future CBDC dominant globally .

 

[JackAlabama]

Then next month its at $60,000 and end of year at $5000 then six months later up to $150,000....lol.

Crypto volatility is not for everyone sadly .

It will all end when the US wants it to and not until they have their future CBDC dominant globally .

Pretty much spot on.
Just one caveat US not being that powerful anymore as just a few 10 years back which can be seen more and more with current events.

 

[fortunespeculator]

I think it would go to 17400$

I think it would go to 17400$

And i would like to start accumulating there.

 

[WazyColen]

I believe that bitcoin will certainly return to its value. It has always been so. However, do not put high hopes on him. I think that it is more promising now to invest in new coins, such as dogecoin, ethereum, etc. However, I am now trading in the forex market, and this seems to me more liquid. You can check site and find more info about it.

 

[AnyBalind]

I believe that bitcoin will certainly return to its value. It has always been so. However, do not put high hopes on him. I think that it is more promising now to invest in new coins, such as dogecoin, ethereum, etc. However, I am now trading in the forex market, and this seems to me more liquid. You can check site and find more info about it.

My business is based on the forex market, so I can also confirm that it has many advantages over crypto trading. Bitcoin has become very popular. Therefore, it cannot bring in a lot of money)))

 

[aage]

And up it already goes, it's soon hitting 31K again, people just need to stay calm.

 

[JackAlabama]

I believe that bitcoin will certainly return to its value. It has always been so. However, do not put high hopes on him. I think that it is more promising now to invest in new coins, such as dogecoin, ethereum, etc. However, I am now trading in the forex market, and this seems to me more liquid. You can check site and find more info about it.

Yes, I suggest Luna and UST. They are new and offer outsized earning potential