Rate action for the previous month - these whales can hold the rate secure with bids and requests for a couple of days ... the goal is to distribute as long as feasible ... really hoping that the asks will certainly obtain hit even more often.but if the proposals obtain hit more frequently, after that they need to race for the reduced bids,and try to find the following reduced level to disperse more there.with more and even more individuals understanding this is a fraud, this pattern will likely take place. and also maybe with some type of capitulation relocation mixed in.
We saw the same giddiness from the believers when bitcoin went up. So nothing new. They drank their champagne already but should try to collect now some money from the empty bottles to cover their losses. End 2017 I heard everywhere people who bought bitcoins and made a lot of money. Now they disappeared. I wonder why? LOL. I know they did not sell at 19K as they were sure it would go to 100K at least. So they are still in their position; most of them with a loss at this time. I can understand that people believe in something and go for it, but what I don't understand is why they stay like sitting ducks when the coins crash (i think that this "correction" is rather a crash). If I believe in something I go for it too, but when the trend goes the opposite way I get out and enter again at a better price. I don't want to be a sitting duck. To me the reason why believers don't reposition their investment proves that they have no clue about the trend. The market (or trend) is always right.
The same experience with Tesla. On SA several comments said they are in it forever they would never sell. (only when they need money) They are true believers and they are going to get burnt. If someone wants to see how it is going to end, look up HMNY's 5 years chart. Exactly the same as Bitcoins with a look into the future. It had 3-4 huge run ups with 80-99% crashes. This last one seems to be the ONE, but who knows. The stock is at 25 cents, ready to be delisted... Bitcoin's death will last longer because of its utility, but it is inevitable, because it isn't rare or unique...
Bitcoin is not a fraud, not a scam and not a Ponzi. Sure there are a gazillion other coins trying to use the BC technology for business purposes and almost 100% of these alt coins with go to back to the dust from which they came. Bitcoin is established, will not only survive, but will thrive again. Schweiz made some valid points and I agree with all that he said. Those that recognized that damage the sub-prime crisis in Nov, 2007 was going to cause, and were able to exit and preposition later came out great. I did get many of my 401k friends out at that time. However those that held through it all came out OK as well but did not have the opportunity to double up at a 50% discount. I have to admit I did not recognize the top of BTC in Dec-Jan and am still holding so I missed the opportunity to double or triple my number of coins. But contrary to most of your thinking, Bitcoin will have its place, and it will again see a bull market, probably starting within a few months.
So was Myspace. But the reason because it is a cult and/or ponzi is because of YOUR behaviour. You are not for cryptos general, just want to see your little petcoin to succeed because that is where your money is. And you need OUR appreciation to reach that goal. If you were generally for cryptos you would welcome new and BETTER coins, but no, you stuck to the one where your investment is. In short: you are talking your book, nothing else...
It is my "petcoin" for reasons that we disagree on. We will know who is correct if this thread still exists in 3 years and has 5,000 pages of history.
this kind of rise is actually bad news.. there is no natural supply/demand in this.. the whales just pulled it STRAIGHT up, vertically.... see if it can draw in some new suckers. This is a store of value?
many entertaining news. Bitcoin is downtrend but people still buy first sell later and not sell first buy later. ____________________ El-Erian calls bitcoin a buy if its price falls below $5,000 Mohamed El-Erian, chief economic advisor at Allianz, said bitcoin would be a buy if the price falls below $5,000. The cryptocurrency was trading around $5,850 Friday morning, representing about a 70 percent drop from the peak it reached in late 2017. El-Erian sees bitcoin emerging as more of a tradeable commodity than a currency, though he thinks blockchain, the technology behind cryptos, is here to stay.