Thoughts on Bitcoin

Discussion in 'Cryptocurrencies' started by Xzhi, Apr 10, 2019.

  1. Xzhi

    Xzhi

    Bitcoin has been remaining above 5k for a while now.

    Do you think it can reach 6.4k before another move down? Most people are planning on shorting 6k, which does make sense.

    What are your thoughts? Has the bear market ended? Personally, I think another test of sub 4k is very probable.
     
  2. qlai

    qlai

    Short via Futures?
     
  3. %%
    :cool::cool: Bit con; like IBKR founder warned ''it has no fundamental value ''[except to shorts,LOL]
     
  4. Be careful... I don't know about the Bitcoin game, how it works with OTC trades affecting prices, ect.

    I am from Vancouver, I have constant live feed on the situation in China... Underground Forex and Currency Shops were the main money launderers for Capital flight out of China... There has been a serious crack down on them since Late last year, and they went hardcore in February took out a number of them... Bitcoin trading activity scene is really huge in Vancouver, it's an economy for some, most OTC

    I am telling you for a fact, Bitcoin is the main Capital Outflow option for Chinese right now, and there is a serious rush out the door, China definitively will do Bank Bail-Ins and everyone knows it, it's crashing bad there at the moment. It's all OTC and not on trading exchanges, so I am not sure how it affects price, but you have a shitload of Yuan Dollars chasing Bitcoins at the moment
     
    murray t turtle likes this.
  5. I don't know what he means by that. Nothing has fundamental value, except what people value it for. Gold, diamonds etc. Bitcoin might be less valued than those, but might have some value.
     
  6. mbondy

    mbondy

    I'm confused.
    Are you saying that chinese money is rushing IN to bitcoin right now, or OUT?
     
  7. Turveyd

    Turveyd

    Just a dead cat bounce, as said, china looking to make mining illegal maybe owning / buying ?? Bubble is burst, just games a foot to create better selling opertunitys and shorting.

    Consider it Downtrend till dead so shorts only!
     
  8. mbondy

    mbondy

    This is not how downtrends, or bounces, behave. Bitcoin is dead for like a year and then explodes on heavy volume... go ahead, short it.
     
  9. Turveyd

    Turveyd

    Or is that what they want you to think, ie a TRAP to get you to buy so they can sell!!

    Time will tell, it's all just best guess.
     
  10. mbondy

    mbondy

    Anyone who steps in front of a moving train deserves to get run over.

    If you think it's a best guess, then clearly you don't know as much as you ought to know after 6800+ posts.
     
    #10     Apr 11, 2019