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Thread: Bitcoin Cracks $5000

  1. #901
    Oh look it's this thread being accurate again, just as predicted.

    The Tether "fake dollar valuation" scam is unwinding as everyone cashes out. I wonder if there are any "oops, sorry we don't have the cash to fulfill your redemption" bagholders yet...
    "Let it not be said that we did nothing." - Ron Paul

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  3. #902
    Quote Originally Posted by FSP-Rebel View Post
    The $4500-5k range wasn't properly tested during the last bull cycle, as it was manipulated all the way up to $20k. Here we are in a final capitulation area before the coming trend reversal. It has nothing to do w/ a fork or confusion from other coins or tokens. Institutional money put the last bull market on steroids then deliberately and systematically controlled the demolition on the way down, killing the mom and pops who panic bought on the way up. The last halving took place in July of 2016 so go and look at the charts leading up to that and beyond. Next halving takes place in 2020 and you'll see a repeat of another bull trend leading up to it and beyond. This capitulation area is the new $180-220 range of 2015's bear market. In other words, this range is a great entry point for bitcoin and many of the other coins/tokens. We've been talking cryptos here since before the last bear market and you all had the chance to ride the last wave up. Your next shot is coming.
    https://www.cnbc.com/2018/11/20/regu...illegally.html

    As bitcoin nosedives, regulators said to be investigating whether it was propped up illegally

    The U.S. Justice Department is reportedly looking into whether traders used another cryptocurrency called tether to bid up bitcoin prices during its 1,300 percent rally last year.

    Federal prosecutors launched a broader criminal probe into cryptocurrencies earlier this year but now suspect that traders on crypto exchange Bitfinex may have been moving prices illegally, Bloomberg reported, citing three people familiar with the matter.

    The news comes amidst bitcoin’s 16 percent price drop on Tuesday.

    As bitcoin continued its downward slide Tuesday, U.S. regulators are reportedly looking into whether its record-breaking rally last year was the result of market manipulation.

    The U.S. Justice Department is investigating whether traders used tether, a controversial cryptocurrency that founders say is backed 1:1 by a U.S. dollar, to prop up bitcoin, according to a report from Bloomberg News, which cited three people familiar with the matter.

    Tether and Bitfinex did not immediately respond to CNBC’s request for comment.

    Federal prosecutors launched a criminal probe into the cryptocurrencies earlier this year, Bloomberg reported. But they now suspect that traders on crypto exchange Bitfinex might have been using tether to coordinate bitcoin’s price moves illegally, Bloomberg reported.

    The Commodity Futures Trading Commission also subpoenaed tether and Bitfinex, who share many of the same executives, in December in part to prove that these tokens are actually backed by a reserve of U.S. dollars. The potential market tricks include “spoofing,” or placing fake orders until the price hits a certain level, then pulling those orders.

    Other U.S. agencies have cracked down on certain aspects of cryptocurrency in recent weeks. On Friday, the Securities and Exchange Commission announced its first civil penalties against cryptocurrency founders as part of a wide regulatory and legal crackdown on abuses in the industry.

    Regulators aren’t the only ones who have flagged tether’s influence on bitcoin.

    University of Texas finance professor John Griffin, who has a 10-year track record of spotting financial fraud, and graduate student Amin Shams published a study in June that said at least least half of the jump in bitcoin was due to coordinated price manipulation.

    In the 66-page paper, the authors explained that tether was used to buy bitcoin at key moments when it was declining, which helped “stabilize and manipulate” the cryptocurrency’s price.

    Tether, although it’s meant to reflect the price of one U.S. dollar, often trades well below that. As of Tuesday, tether was worth roughly 98 cents, according to data from CoinMarketCap.com. Bitcoin, meanwhile, was trading near $4,745 Tuesday after falling to roughly $4,200 earlier in the day. Its price is down more than 75 percent since the all-time high near $20,000.
    Presently below $4300.
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  4. #903
    Quote Originally Posted by FSP-Rebel View Post
    The $4500-5k range wasn't properly tested during the last bull cycle, as it was manipulated all the way up to $20k. Here we are in a final capitulation area before the coming trend reversal. It has nothing to do w/ a fork or confusion from other coins or tokens. Institutional money put the last bull market on steroids then deliberately and systematically controlled the demolition on the way down, killing the mom and pops who panic bought on the way up. The last halving took place in July of 2016 so go and look at the charts leading up to that and beyond. Next halving takes place in 2020 and you'll see a repeat of another bull trend leading up to it and beyond. This capitulation area is the new $180-220 range of 2015's bear market. In other words, this range is a great entry point for bitcoin and many of the other coins/tokens. We've been talking cryptos here since before the last bear market and you all had the chance to ride the last wave up. Your next shot is coming.
    After so many people lost their shirts chasing cryptos a year ago, how big of a pool of new suckers do you think they can really muster to run it up again? I'm thinking that by the time any 2020 fork or whatever rolls around, the real crypto/blockchain from the bankers will be in full usage and few will bother with bitcoin and the rest anymore. Bitcoin served it's purpose of introducing the masses to the idea of cryptocurrency/blockchain and some "made" (read: stole) a lot of money in the process and others got killed.

    eta: I'd love to see some of the people that lost their shirts on bitcoin string up Tom Lee and Brian Kelly. Those two CNBC dicks spent the last year lying through their teeth about cryptos.
    Last edited by devil21; 11-20-2018 at 07:00 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  5. #904
    Last Thanksgiving, people were hyping Bitcoin and even the average person talking about it and even buying some (sure sign of a bubble when the average Joe wants to get in on the action). Bitcoin soared to almost $20,000. This year, the talk of bitcoin is about how it is going down and the fork makes bitcoins even more confusing to the average person- lowering their potential interest in it. The initial promise was of a single "coin" in limited quantities which you could easily use to make purchases and its limited supply would mean its value would only go up as demand rose. Instead multiple new coins have come into being and even Bitcoin itself has split into other entities. It isn't easy to use for the average person and the supply is no longer limited- the variations of coins seem to be rising even faster than any demand. Instead of being used for purchases and every day transactions, buyers are now mostly serious bitcoin geeks hoping to make money. The buyers are increasingly becoming just each other as the "average Joe" has lost interest. Expanding supply- shrinking demand- a certain recipe for lower prices.
    Last edited by Zippyjuan; 11-24-2018 at 03:07 PM.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.



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  7. #905
    Quote Originally Posted by Zippyjuan View Post
    Last Thanksgiving, people were hyping Bitcoin and even the average person talking about it and even buying some (sure sign of a bubble when the average Joe wants go tet in on the action). Bitcoin soared to almost $20,000. This year, the talk of bitcoin is about how it is going down and the fork makes bitcoins even more confusing to the average person- lowering their potential interest in it. The initial promise was of a single "coin" in limited quantities which you could easily use to make purchases and its limited supply would mean its value would only go up as demand rose. Instead multiple new coins have come into being and even Bitcoin itself has split into other entities. It isn't easy to use for the average person and the supply is no longer limited- the variations of coins seem to be rising even faster than any demand. Instead of being used for purchases and every day transactions, buyers are now mostly serious bitcoin geeks hoping to make money. The buyers are increasingly becoming just each other as the "average Joe" has lost interest. Expanding supply- shrinking demand- a certain recipe for lower prices.
    I agree. I think the exchanges and sites like Coinmarketcap should have ignored other currencies. Just trade and keep the top few listed, Bitcoin, Ripple, Ethereum and Litecoin. Their greed with these forks screwed themselves and the rest of us.

  8. #906
    Bitcoin now below $3800.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.

  9. #907
    Quote Originally Posted by Zippyjuan View Post
    Bitcoin now below $3800.
    That's just the cyber Monday sale.
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  10. #908
    Should I wait for it to go to $5000 before I buy?

  11. #909
    Quote Originally Posted by Schifference View Post
    Should I wait for it to go to $5000 before I buy?
    Buy low sell high .
    Do something Danke

  12. #910
    How long before Bitcoin<Gold again?

  13. #911
    Bitcoin bumped back over $4,000 today.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.

  14. #912
    Still falling. Bitcoin about $3200 today.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.



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  16. #913
    One of my friends has been calling a bottom at around $2800 for a long, long time. Some kinda Fibonacci calculation.
    "He's talkin' to his gut like it's a person!!" -me
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