Cryptocurrency

[original PM]

Bitcoin price collapse set to continue, cryptocurrency analysts warn | The Independent

[scooterscot]

The hope amongst the 'dirty spekulants' is that bitcoin become digital gold so one bitcoin will be like a ton of gold, out of reach of most but they can spend satoshis instead. There's also the digital gold backed currency angle for when FIAT goes up in smoke.

There's no hope needed IMO. You just need to do research. Furthermore, look at what's happening in the world. Governments are loosing authority as private banks print money enriching themselves. This cannot continue. Debt keeps increasing with a reset seemingly impossible.

Europe is actively looking for ways to continue business with Iran. It is clear the EU does not agree with the sanctions, and moving dollars around to settle payments using the USA's SWIFT system is becoming increasingly risky. The US stops payments through SWIFT it does not like, there's a number of stories out there with EU to EU payments. Yes a payment from GBP To EUR going through SWIFT goes through the dollar. The rumour mill is doing overtime at the minute SWIFT will have sanctions imposed upon it by Donald Thump. Watch Bitcoin rocket on that news.

[scooterscot]

Bitcoin price collapse set to continue, cryptocurrency analysts warn | The Independent

A lot of folks are expecting this. It is not news. A weekly dive to $2.8k is expected and a daily dive to $1.2k could occur. There'll be a feeding frenzy if that happens. $1.2k would be a 93% correction from the ATH. Historically speaking, that's normal.

[northernladuk]

A lot of folks are expecting this. It is not news. A weekly dive to $2.8k is expected and a daily dive to $1.2k could occur. There'll be a feeding frenzy if that happens. $1.2k would be a 93% correction from the ATH. Historically speaking, that's normal.

I thought we were expecting it to hit 100k by the end of the year?

[fullyautomatix]

A lot of folks are expecting this. It is not news. A weekly dive to $2.8k is expected and a daily dive to $1.2k could occur. There'll be a feeding frenzy if that happens. $1.2k would be a 93% correction from the ATH. Historically speaking, that's normal.

What absolute nonsense. Covering all bases aren’t you? If it crashes then I predicted so and the same if it zooms up. Do us a favour, feck the feck off. You caused untold losses to people on here and in fact might be guilty of a boiler room like scam and what you did was illegal. I hope you get reported to authorities so your shilling activities can be stopped.

[scooterscot]

What absolute nonsense. Covering all bases aren’t you? If it crashes then I predicted so and the same if it zooms up. Do us a favour, feck the feck off. You caused untold losses to people on here and in fact might be guilty of a boiler room like scam and what you did was illegal. I hope you get reported to authorities so your shilling activities can be stopped.

So you bought into the market at an all time high and now you're moaning about your reckless decision on a public form? You've lost money, you feel crap, let's blame him who started the thread because I'm not responsible. Gwd I hope you don't have kids.

The market only delivers to those with patience. You're probably running for the exit thinking I'll save what I have left. Well I've news for you, that's exactly what the big money wants you to do. And the weak hands have been doing exactly that in their droves over the months just past. If you'd take a moment to educate rather than speculate, you'd be excited as I am about the future of this emerging asset class. I've lived through two new assets classes, missed out on both because I did not have the money or did not realise what was happening. It'll not happen a 3rd time. And I'm fed up with working so much, can't be bothered any more.

[northernladuk]

So you bought into the market at an all time high and now you're moaning about your reckless decision on a public form? You've lost money, you feel crap, let's blame him who started the thread because I'm not responsible. Gwd I hope you don't have kids.
.

Honestly scoots. It doesn't take someone that's bought in high and is now moaning to be sick of the rubbish you constantly spout on here. You also don't need to have dabbled in crypto to spot your evangelical crap either. As has been pointed out, and not for the first time, your posts covers both options so means nothing.

[scooterscot]

Well hear this northerner; where they believe butter is called margarine, you can choose not to read my thread. But you do anyway. I can't stop you clicking on the link. It's entirely your choice. Perhaps you should try exercising that freedom more often.

[Hobosapien]

A lot of folks are expecting this. It is not news. A weekly dive to $2.8k is expected and a daily dive to $1.2k could occur. There'll be a feeding frenzy if that happens. $1.2k would be a 93% correction from the ATH. Historically speaking, that's normal.

Which is why I have a very simple approach:

1. Drip feed 'spare change' into bitcoin on regular intervals, taking advantage of lowering price to pound cost average while BTC price is on a downward trend.

2. Ignore predictions. To the moon or $1 are equally as likely if 'experts' are to be believed.

3. Don't bother trying to time the market either at top or bottom. Can't sell at top and can't buy at bottom as there will be a crunch point where the liquidity shifts in the other direction due to natural FOMO and panic buying/selling.

4. Sell gradually on way up to take some profit so don't need to worry about where the actual peak may be.

5. Bitcoin remains king, currently ~55% dominance. No true contender to the throne yet so no real need to invest in alts that are little more than whitepaper bollox. About as likely to get rich on alts as you are with penny shares, so for more hardcore gamblers or those with more than a passing interest in a particular alt.

Got to be in it to win it. Not gambling any more than I have in a crappy cash ISA paying below inflation interest. Screw that.

[scooterscot]

Think Bitcoin is about to enter a consolidation period. That means we've about bottomed out and will move sideways. A move to the upside should be expected to confirm this consolidation phase. A big move.