Been watching a live trade vid on youtube. That double top does not look good. How far do people think bitcoin will fall?
I have been out of it a while when I saw the writing on the wall.
Woz
Been watching a live trade vid on youtube. That double top does not look good. How far do people think bitcoin will fall?
I have been out of it a while when I saw the writing on the wall.
Woz
To be expected, I was thinking that it was getting far too high, I think there will be quite a big crash but it won't be anything that severely damages Bitcoin itself. These are brand new highs we're seeing to the extreme, plus, I've always predicted that anything $10,000 and above will be due to the inflation of the dollar rather than the value of Bitcoin itself.
I am going to be pretty concerned though if it stays above $10,000 even with a crash because this will mean things are going to go to hell soon. It seems that things aren't as clear cut with Brexit as people might have thought because the Theresa May's cabinet is starting to get testy about the deal she's negotiated and Germany isn't successfully building a coalition.
Those are two things to really keep an eye on, if the EU collapse and hyperinflation goes crazy we're in for a hell of a time with the Bitcoin price, that being said, it will be far more stable than anything the governments are offering.
What people need to worry about is paper currency because Bitcoin I think is showing just how bad things are.
Yep, as soon as it started gaining $1000 at a time faster and faster it was in the post.
What gets me is all the people that react "No it's not in a bubble" as though that is an attack on bitcoin itself instead of the stupid prices it reached quick.
I am with you, I am waiting to pick up coins for a few thousand at the bottom.
Already down at $13000 in two hours. Next comes the panic sell where is will really drop :)
All the HODL people are dumb. Sell now and buy back at the bottom
I don't think it necessarily is a bubble though even by the definition of Keynesians, I think everyone is just so used to rigged markets that can only go up by 0.1% that they've never seen a real price rise before.
If there is a bubble, it's in the dollar itself, otherwise the prices wouldn't be anywhere near this high. I think that the media is attacking Bitcoin the way they are because they don't know any of this, it's interesting, but they do look at the prices and charts purely on the short term and this happens every time Bitcoin does a price rise.