Why Bitcoin is Plunging (This Time)

rowedge
Inlägg: 13
Blev medlem: 04 dec 2018, 06:58

Why Bitcoin is Plunging (This Time)

Inläggav rowedge » 01 jan 2019, 13:44

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...

startandy
Inlägg: 6
Blev medlem: 05 dec 2018, 07:30

Re: Why Bitcoin is Plunging (This Time)

Inläggav startandy » 01 jan 2019, 13:45

Bitcoin has no fundamentals. It's fool's gold.

singerrebel
Inlägg: 6
Blev medlem: 05 dec 2018, 09:07

Re: Why Bitcoin is Plunging (This Time)

Inläggav singerrebel » 01 jan 2019, 13:46

startandy skrev:
01 jan 2019, 13:45
Bitcoin has no fundamentals. It's fool's gold.


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.

defogmick
Inlägg: 12
Blev medlem: 04 dec 2018, 13:30

Re: Why Bitcoin is Plunging (This Time)

Inläggav defogmick » 01 jan 2019, 13:46

The value of Bitcoin is proportional to the cost of energy required to mine the next coin... assuming anyone gives a shit lol

rowedge
Inlägg: 13
Blev medlem: 04 dec 2018, 06:58

Re: Why Bitcoin is Plunging (This Time)

Inläggav rowedge » 01 jan 2019, 13:47

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

startandy
Inlägg: 6
Blev medlem: 05 dec 2018, 07:30

Re: Why Bitcoin is Plunging (This Time)

Inläggav startandy » 01 jan 2019, 13:47

rowedge skrev:
01 jan 2019, 13:47
here is another one. Federal agencies opened investigation into USDT, that was created out of thin air to prop up Bitcoin price.


It will, even not this year.

singerrebel
Inlägg: 6
Blev medlem: 05 dec 2018, 09:07

Re: Why Bitcoin is Plunging (This Time)

Inläggav singerrebel » 01 jan 2019, 13:48

Even if one of these cyptocurrencies does become wildly successful in the future, it definitely won't be the original BTC. BTC is too slow and inefficient, and manages to be ludicrously insecure to use and store (one guy in the news lost $1 million to a low-grade phone hack, there are countless similar stories) while at the same time offering close to zero privacy - anyone with an Internet connection and your wallet address (which must be given out to effect transactions) can see your account balance as well as your entire transaction history. It's purely a speculative football.

defogmick
Inlägg: 12
Blev medlem: 04 dec 2018, 13:30

Re: Why Bitcoin is Plunging (This Time)

Inläggav defogmick » 01 jan 2019, 13:49

bitcoin is solid you have to look where it came from at the start not from the high. when you consider that it's kicking the ass of world currencies.


Vilka är online

Användare som besöker denna kategori: 1 och 0 gäst