Why Bitcoin is Plunging (This Time)

Discussion in 'Cryptocurrencies' started by ajacobson, Nov 25, 2018.

  1. Pekelo

    Pekelo

    It is plunging because:

    1. Giant ascending triangle on the daily chart since December, with 5 lower highs.
    2. Magic internet money that is copyable and splitable shouldn't be more than double digits...
     
  2. Bitcoin has no fundamentals. It's fool's gold.
     
    Last edited: Nov 26, 2018
    Specterx and cvds16 like this.
  3. S2007S

    S2007S

    Remember last year everyone thought it was going to $50,000 and even $100,000

    Yep.
     
  4. zdreg

    zdreg

    it sounds like a dead cat bounce is coming in the near future.
     
  5. Pekelo

    Pekelo

    I assume by fundamentals you mean utility value. And you are wrong. It is perfect for black mailing for example. That doesn't mean its value should be in the 4 digits.
     
  6. zdreg

    zdreg

    re: blackmailing
    there must be an app to counter.
     
  7. The value of Bitcoin is proportional to the cost of energy required to mine the next coin... assuming anyone gives a shit lol
     
    gkishot likes this.
  8. RedDuke

    RedDuke

    here is another one. Federal agencies opened investigation into USDT, that was created out of thin air to prop up Bitcoin price.
     
  9. gkishot

    gkishot

    It will, even not this year.
     
    #10     Nov 26, 2018