Reply to: Cryptocurrency

[AtW]

Very nice DOOM is shaping up, stay tuned…

[AtW]

"Binance auditor withdraws from working with crypto company

World’s largest cryptocurrency exchange, which has been hit by $6bn of withdrawals this week, seeks replacement for Mazars"

https://www.theguardian.com/business...rency-exchange

Even Mazars who were fine with Trump business would not handle this one...

[vetran]

Here you go the secret to Spooters success.

[AtW]

“Nationwide to restrict crypto payments after FTX chaos

Fresh crackdown follows wave of restrictions introduced by other major banks”

https://www.telegraph.co.uk/business...nts-ftx-chaos/

[jamesbrown]

There's no telling how low it could end up going.

I predict that the theoretical lower bound is zero or, in terms of negative profits, the total amount invested

[DealorNoDeal]

Rainbows and Unicorns

https://www.blockchaincenter.net/en/...rainbow-chart/

I wouldn't be surprised if they'll have to come up with a V3 before this bear market has run its course.

BTC is currently in uncharted territory. Throughout its history, it has only ever experienced benign market conditions. It has never encountered a severe economic downturn and equities bear market. There's no telling how low it could end up going.

[northernladuk]

Rainbows and Unicorns

https://www.blockchaincenter.net/en/...rainbow-chart/

Call me a doubter but all the evidence you need to not take any chart seriously is on that page. I'm talking about the statement below the chart that says 'As you may have noticed: The original Bitcoin Rainbow Chart is dead! '

So the last one we said was going to happen didn't happen so here is a new one based on the data we didn't expect so take this one as gospel.

It's just ridiculous.

[_V_]

Folks won't desert the space until the pattern stops repeating. Ever since BTC's creation, all you had to do was buy near a bear market low and you multiplied your money 20-fold within 2-3 years. I suspect many are currently on the sidelines waiting to pile in when the current cycle bottoms out, with the expectation of it being $200k+ in a few years time. I've seen on trading forums that the dream is still there of $500k or $1m.

Rainbows and Unicorns

https://www.blockchaincenter.net/en/...rainbow-chart/

[Paralytic]

I know, right? What a fooking *****d

But, it still wasn't his fault. A big boy did it an ran away

"The hardest thing about this loss is - we didn’t get the chance to lose the money ourselves, it was just taken from us."

Hard to feel sympathy for someone who won't take responsibility for their own actions.

[Whorty]

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

The graphs only work if you talk about candles, doji, and flippity-doo-dahs

[DealorNoDeal]

If, by summer, you mean a hot period where the post-firesale accumulated value of all crypto assets drops to $10k, then I think you're right, "summer" is also coming shortly after winter.

It would certainly be for the better if it died a death but I suspect there are far too many out there who still believe it's a road to riches.

I thought it was dead after the 2017 run-up, and subsequent collapse from $20k to $3k, but it then went up over 20-fold to nearly $70k last year.

Moral of the story: never rule out idiotic human behaviour.

[jamesbrown]

I wouldn't bet against BTC having another huge run up. The perception out there is that it's still a long-term NGU, and it's only a matter of time before crypto winter turns into summer.

Not sure where the current cycle will bottom out but $10k looks on the cards.

If, by summer, you mean a hot period where the post-firesale accumulated value of all crypto assets drops to $10k, then I think you're right, "summer" is also coming shortly after winter.

[northernladuk]

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

[pr1]

Not sure where the current cycle will bottom out but $10k looks on the cards.

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

[DealorNoDeal]

These numbers are probably within reach for the accumulated value of all crypto assets.

I wouldn't bet against BTC having another huge run up. The perception out there is that it's still a long-term NGU, and it's only a matter of time before crypto winter turns into summer.

Not sure where the current cycle will bottom out but $10k looks on the cards.