crazy bitcoin dumped 5000 US$ today!

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AMD

Offshore Agent
Mentor Group Gold
bitcoin dropped with 5000 US$ today - is that just because of Mr. Putin and the conditions in Ukraine ?
 

369

Entrepreneur
it will go soon to 30k and high probably visit 18-19k
DJ near bear cycle confirmation
 

Vor

Active Member
digital currencies have no relation to the real world. it is pure gambling.
I would agree. I've been hearing for years and years how its gonna change everything but all that is really built upon it is more ways to speculate on itself. It's also the only casino to have a cult like following. I know a few individuals who have made mid 6 figures from modest sums due to lucky timing in crypto however none have cashed any out... They are convinced that it will only go up.
 

avalanche

Entrepreneur
I would agree. I've been hearing for years and years how its gonna change everything but all that is really built upon it is more ways to speculate on itself. It's also the only casino to have a cult like following. I know a few individuals who have made mid 6 figures from modest sums due to lucky timing in crypto however none have cashed any out... They are convinced that it will only go up.
Its easy to see those "lucky" ones and those who come up with excuses to stay away from it ;)
 

Vor

Active Member
Its easy to see those "lucky" ones and those who come up with excuses to stay away from it ;)
the "lucky" one I know went from 4 figures to 7 figures in about 6 months and then proceeded to go from 7 figures right back down.. so like every gambling addict much of it has been given right back.
 

Golden Fleece

Entrepreneur
the "lucky" one I know went from 4 figures to 7 figures in about 6 months and then proceeded to go from 7 figures right back down.. so like every gambling addict much of it has been given right back.
Exactly. Most temporary Bitcoin millionaires are just like lottery winners. People who receive an unearned windfall do not respect the immense effort that it takes to earn money and to preserve wealth.
According to the New York Daily News, 70 percent of lottery winners end up broke within seven years. Even worse, several winners have died horribly or witnessed those close to them suffer.

In terms of technical analysis, the price of Bitcoin is in very dangerous territory right now, near a double-bottom. If the stock markets roll over, which is very possible (with one of the worst January performances on record), investors will liquidate everything in an effort to de-leverage. If that happens, that potential double-bottom will not hold and Bitcoin will crash through it with reckless abandon. The next level of support is far below at $20k.
 
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avalanche

Entrepreneur
Exactly. Most temporary Bitcoin millionaires are just like lottery winners. People who receive an unearned windfall do not respect the immense effort that it takes to earn money and to preserve wealth.


In terms of technical analysis, the price of Bitcoin is in very dangerous territory right now, near a double-bottom. If the stock markets roll over, which is very possible (with one of the worst January performances on record), investors will liquidate everything in an effort to de-leverage. If that happens, that potential double-bottom will not hold and Bitcoin will crash through it with reckless abandon. The next level of support is far below at $20k.
You dont have to be a lottery winner to buy and hold.
 

OffMyBack

Mentor Group Gold
i also love the comparison that bitcoin is digital gold..... I mean i still rather have gold, bitcoin would not exist without gold, as one would need gold in all these computer chips..... it is a ponzi scheme, whereby there is an umlimited supply of tokens on the table for the lucky ones (usdt and so). They can print at will, so whereas we got to spend 1 usd to get something, they will just pass out an IOU note.....

besides its going to change jackshit. Why would any token have value, as it is only a facilitor, not a creator. FOr example Route 66 was great, until they build the interstate bypassing all these little towns. Does that mean the actual interstate has value? or goes up in value ? no, its a facilitor - a means to an end.

Crypto has one thing though, a big danger. It enables governments around the world to create a digital currency, and everyone is applauding that, until they find out that in the code it also means that the government can seize your wallet anytime (think XRP) or kill it off or worse, that you need to identify yourself before you can have a wallet and take part in normal life.....it is indeed a wet dream for legislators....... and China will be the first as it ties in with their regime....but surely wont be the last.

Decentralised finance my ass!
 

369

Entrepreneur
Its easy to see those "lucky" ones and those who come up with excuses to stay away from it ;)
Noone says to stay away from it.
Make your money and leave at the right moment before it gets to its real value ZERO.
Bitcoin is a tool from bankers which purpose is profit and a marketing gag.
People investing in bitcoin are teached to hold.
Perfect "morons" to get milked see the dot com bubble.
Hold till the end
 

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