A contagion of fear can send crypto crashing to earth like a meteor entering the atmosphere. I am even expecting a less spectacular 30-40%correction of the markets before the economy recovers. One can set off the other.
Bitcoin drops below $20,000 as crypto selloff quickens
- Thread starter Claudia Love
- Start date
Be careful as things are looking good but the market is on the bubble and it can burst anyway now.
Bitcoin is like a big Ponzi scheme, and it really has no value. The governments of our countries will never allow bitcoin to ever become the currency of choice as it is very difficult to collect taxes. I believe that bitcoin, and any type of cryptocurrency is a very risky investment that people who want to play this Ponzi game investing and they actually all know that there’s no value, so I recommend stay away from bitcoin.
A bunch of us have been saying this for years in this thread and other threads on this board. People are going to believe want they want to believe, and they want to believe they can get rich of a virtual coin that has no value, with the exception of someone else paying more for then did for no reason.
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Blackrock currently working on a Bitcoin ETF, they would never do that if the did not see any value in crypto.
I know most of you will cry BS after my post, but on Aug 17th around 5:00pm EST there were many coordinated huge sells of BTC on the bigger exchanges and its rumored that it was Elon Musk doing the selling. It doesn't matter who was selling, the seller wanted to create an avalanche sell which would cause more selling. If I had $ 500 million of BTC to move, I would sell it gradual OTC style to let's say Institution A, B and C. Not on the open market and take out all the sell stops along the way crashing the market. During the past 3 weeks when BTC was hovering at the 30k mark, I would sell my batch nice and slowly and evenly It was one day before BTC options expiry and the market was net short and it needed to close below 30k for all those major derivative players to make tons of coin. Let's say 3% of the world owns BTC and each average Ma/Pa daytrader owns $ 100.00 each, they aren't going to ever move the markets. Come on man ! If I was one of the players on the inside, let's just say that 10% group, I would each month sell 20k puts and 50k calls to all the dreamers out there and do that every single month. Rinse and repeat and that's my theory and I'm sticking to it ! Every month on the 3rd Friday ( options expiry), I would count my profits with all those useless worthless out of the money options and laugh all the way to the bank. If there was an actual Ponzi scheme in place, that's how I would play it out. I wouldn't care if BTC was trading at 25k or 35k, it would be range bound and that's how I would make my Ponzi money.
I do believe the bullish theory of physical ETF's and the backers will all be taking long positions of the underlying but that will take time & regulation. It won't be tomorrow. Further to my conspiracy theory above, look at the major sell signal of Aug 16th, the market called for a sell probably before that and all the buy signals that kicked in after that I say are false signals. Technical traders and computer geeks follow them, but you have to learn how to ignore the false signals or you won't become a successful daytrader like me. Not ! Food for thought ! Just bring up an hourly or minute by minute chart and you can see since 2009 that there are players controlling this BTC market ( and most of the alt coins, too ). I know I'm in the minority group that is unsure of the validity of BTC. Just sit back and watch how it trades and you will come up with your own conclusion.
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Of course not, no financial planning company would ever do such a thing
Financial planning companies truly have your best interest at heart, not theirs. Just ask the people at Primerica.
Entire cryptocurrency is a bubble that is waiting to be burst. It is going to be a really really sad day when the crypto bubble burst as many people are going to lose a lot of money.
If I’m going to buy cryptocurrency, I’m going to look at Etherium over all of them as the technology behind Ethereum is what separated from the rest.
Crypto goes in cycles and I think it’s already had its crash. I don’t think it would crash again.
If BTC holds support of $ 15,750 ( low on Nov 10, 2022) and cracks resistance of $ 69,000 ( high on Nov 10, 2021) we might have upside. Sharp derivative players are keeping the coin range bound and just making it look like it has action. They need vols to drive up the price of their options. All of my friends think I'm smoking cheap drugs, but just pay attention to where the price is 1 year, 5 years from now and we'll see . . .
All of those 25 year olds who claim to have made hundreds of millions on Bitcoin and retired in Dubai, is that legit or just part of their YouTube, I'm an expert crypto trader scam to get you to click on their training vids ? 
Blackrock isn't a bank.
You are smoking the cheap drugs. Technical analysis divorced from fundamentals is like astrology for finance. Does anyone seriously believe you can predict the future by solely looking at past price action?
Binance just got cut off from the fiat system, tether's won't meet large redemptions, all the crypto exchanges are running unregistered securities exchanges that the SEC is in the process of shutting down.
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Nobody can predict anything. If they could they would be richest person ever.
