Bitcoin is a Ponzi

[lib123]

I think $5T more likely.

Within six months, honestly.

I doubt it. Again when you see everyday people hype up an investment, it’s usually peaked.

Meanwhile wealthy people who’ve been heavily involved in crypto from the beginning are dumping on retail investors.

 

[In The Zone '98]

I doubt it. Again when you see everyday people hype up an investment, it’s usually peaked.

Why would $2T be the peak when the new administration hasn't released its crypto legislation and goals?

You think we're going backwards from here

i know of Valguris thru Bill Simmons and the Mavs. But why is he talking about the BTC Bear Market, when we're in the Bull Market phase?

And why are you adding his tweets to support your perspective when YOU know we're in the bull market phase?

Tf is going on in here, lol?

 

[lib123]

Why would $2T be the peak when the new administration hasn't released its crypto legislation and goals?

You think we're going backwards from here

i know of Valguris thru Bill Simmons and the Mavs. But why is he talking about the BTC Bear Market, when we're in the Bull Market phase?

And why are you adding his tweets to support your perspective when YOU know we're in the bull market phase?

Tf is going on in here, lol?

Markets price in future developments. The pro-crypto legislation motivated buying is already priced in. A sign of a short term peak (at a minimum) is large numbers of everyday people talking about an investment. Going back to JP Morgan, wealthy people who control the vast majority of assets and dictate its price have used that as a sign to sell off assets. In 1929 JP Morgan overheard the boys at the shoe shine shop where he frequented talking about buying stocks and immediately after dumped large stakes of his holdings. Shortly after the 1929 crash occurred.

Again, read the history of bubbles.

 

[In The Zone '98]

Markets price in future developments. The pro-crypto legislation motivated buying is already priced in. A sign of a short term peak (at a minimum) is large numbers of everyday people talking about an investment. Going back to JP Morgan, wealthy people who control the vast majority of assets and dictate its price have used that as a sign to sell off assets. In 1929 JP Morgan overheard the boys at the shoe shine shop where he frequented talking about buying stocks and immediately after dumped large stakes of his holdings. Shortly after the 1929 crash occurred.

Again, read the history of bubbles.

So your position is that after Trump announces his desire to purchase BTC. That the price is gonna go backwards and not forward?

A simple yes or no will be sufficient

 

[lib123]

So your position is that after Trump announces his desire to purchase BTC. That the price is gonna go backwards and not forward?

A simple yes or no will be sufficient

It will either be flat or go down. Also, if there is a correction in wider overinflated markets such as mega cap tech stocks, that will bring down crypto since there will be a general risk-off reaction.

 

[In The Zone '98]

It will either be flat or go down. Also, if there is a correction in wider overinflated markets such as mega cap tech stocks, that will bring down crypto since there will be a general risk-off reaction.

Understood. Will definitely be quoting you in a few months.

 

[Gloxina]

I doubt it. Again when you see everyday people hype up an investment, it’s usually peaked.

Meanwhile wealthy people who’ve been heavily involved in crypto from the beginning are dumping on retail investors.

“That was a fun bull market. See you all again in 4 years”.


But that’s my freaking point! It’s a cycle and if you realize that, you can ride the wave.

And the first tweet is correct; Coinbase commercials are everywhere and Bitcoin is being mentioned in more and more commercials daily. YES, there is going to be a dip.
I’m not buying bitcoin right now.
Crypto is going to crash and that’s when all the ppl who get it will get back in and ride the wave.
It’s not a big deal if you’ve been following crypto. It’s a problem for the ppl who buy during all time highs. Same way you have to learn the market, you need to learn crypto.

 

[hood b. goode]

“That was a fun bull market. See you all again in 4 years”.


But that’s my freaking point! It’s a cycle and if you realize that, you can ride the wave.

And the first tweet is correct; Coinbase commercials are everywhere and Bitcoin is being mentioned in more and more commercials daily. YES, there is going to be a dip.
I’m not buying bitcoin right now.
Crypto is going to crash and that’s when all the ppl who get it will get back in and ride the wave.
It’s not a big deal if you’ve been following crypto. It’s a problem for the ppl who buy during all time highs. Same way you have to learn the market, you need to learn crypto.

You get it

People get rich in a recession

 

[Gloxina]

You get it

People get rich in a recession

Breh I’m freaking DONE. I’m loading up when Trump crashes the economy. Lol I’m trying to get out of the office and make my money at home

 

[Tres Leches]

wheres the guy who was making fun of BTC cause it didnt hit 100K yet well it just hit 100K

 

[the bossman]

The further we get away from stimulus, the sharper the drop in new accounts and active users.

And after this next crash, where are the new pool of investors going to come from? Most new crypto investors bought at or near the top with free money from the government. You think that they’re going to throw their hard earned money at crypto when they’ve already lost a lot? In an economy entering recession while prices are rapidly rising and increasing job insecurity? If anything, they’re going to start panic selling to get out while they can. Crypto was on the brink of completely collapsing last Thursday after Tether rapidly declined. Y’all are done.

 

[Vandelay]

Ngl...i thought it was gonna last beyond January 20th and than sink.

 

[the bossman]

wheres the guy who was making fun of BTC cause it didnt hit 100K yet well it just hit 100K

OP is an idiot. Thread got bushed originally but mods brought it back under peer pressure for whatever reason. Doesn't matter what facts you put in front of breh. He's like a broken record

 

[In The Zone '98]

The further we get away from stimulus, the sharper the drop in new accounts and active users. Look at Coinbase’s recent earnings report and 50% stock collapse last week. And yeah, I’ve been wrong for a year. Taleb, Paulson, etc were off by a year or so about the ‘08 housing crash. I underestimated how many people were delusional about crypto. Just like they underestimated how many people would be foolish enough to take out subprime loans. The end result will be the same. Major crash.

And after this next crash, where are the new pool of investors going to come from? Most new crypto investors bought at or near the top with free money from the government. You think that they’re going to throw their hard earned money at crypto when they’ve already lost a lot? In an economy entering recession while prices are rapidly rising and increasing job insecurity? If anything, they’re going to start panic selling to get out while they can. Crypto was on the brink of completely collapsing last Thursday after Tether rapidly declined. Y’all are done.

Punching air

 

[the bossman]

I said it would crash and never reach all time peak again.

The purpose of this thread was to warn people not to invest in crypto.

Breh made this post on a day when 1 BTC was 15k

The purpose of this thread wasn’t to laugh at anyone. It was to warn about crypto. Hopefully some people listened and didn’t get involved in December of last year or sold out.

@ anyone who listened to this

That new money isn't coming back any time soon (best-case scenario) or never at all (most likely scenario).

You struggle to understand that crypto's rise correlated with all-time low interest rates and monetary stimulus. Do you have any evidence that crypto will thrive in a high interest-rate environment?

Where is the stimulus? Where are the low interest rates?

I never said it’s going to $0 but it’s very feasible that it will end up significantly lower.