Crypto Currency Thread (Vol.2)
Discussion
jammy-git said:
You're wrong again. Quite a number of us said this was a bubble when newbies joined and asked about putting money in. Just no one knew when it would stop and by how much it would fall back.
I think my own prediction was around the $30k mark.
Just no one else has been banging on about it on every f
king page.
i'm wrong again, sorry you are talking pish, and I've gone through the thread and see nothing about you prediction as well as backed up by reasoning? I think my own prediction was around the $30k mark.
Just no one else has been banging on about it on every f
king page.Musk, mining, Stablecoins i'm the only one who has said specifically these are the massive weaknesses in this system.
Anyway i guess a lot will be hindsight experts now.
I called the end of the bubble a month ago and yes it was bubble as that growth was unsustainable.
My prediction, it will continue to drop, I reckon we could see sub $20k BTC, maybe even $15k, then it will stabilise for a year then we'll go through the cycle again. As I said many many times, we've been here before. The only difference this time is that I don't think it will drop as far, we saw $5k at one point last time. I also don't think it will last as long, it was in the doldrums for over 3 years last time, I reckon it will be about a year to 18 months this time.
No other analysis, fancy graphs etc other than it's happened before in almost exactly the same way so it will more than likely happen again.
My prediction, it will continue to drop, I reckon we could see sub $20k BTC, maybe even $15k, then it will stabilise for a year then we'll go through the cycle again. As I said many many times, we've been here before. The only difference this time is that I don't think it will drop as far, we saw $5k at one point last time. I also don't think it will last as long, it was in the doldrums for over 3 years last time, I reckon it will be about a year to 18 months this time.
No other analysis, fancy graphs etc other than it's happened before in almost exactly the same way so it will more than likely happen again.
Guvernator said:
I called the end of the bubble a month ago and yes it was bubble as that growth was unsustainable.
My prediction, it will continue to drop, I reckon we could see sub $20k BTC, maybe even $15k, then it will stabilise for a year then we'll go through the cycle again. As I said many many times, we've been here before. The only difference this time is that I don't think it will drop as far, we saw $5k at one point last time. I also don't think it will last as long, it was in the doldrums for over 3 years last time, I reckon it will be about a year to 18 months this time.
No other analysis, fancy graphs etc other than it's happened before in almost exactly the same way so it will more than likely happen again.
Do you have a contact for the person you've bought this crystal ball from?My prediction, it will continue to drop, I reckon we could see sub $20k BTC, maybe even $15k, then it will stabilise for a year then we'll go through the cycle again. As I said many many times, we've been here before. The only difference this time is that I don't think it will drop as far, we saw $5k at one point last time. I also don't think it will last as long, it was in the doldrums for over 3 years last time, I reckon it will be about a year to 18 months this time.
No other analysis, fancy graphs etc other than it's happened before in almost exactly the same way so it will more than likely happen again.
Guvernator said:
No other analysis, fancy graphs etc other than it's happened before in almost exactly the same way so it will more than likely happen again.
The big difference this time is that the ten fold gains made by BTC over the last year have clearly been driven by the creation of $62 Billion worth of Tether. It seems that even this has stopped working though as the value of BTC has halved since the peak, but Tether have continued to print more tokens.
Do Tether have $62 Billion sitting in a bank account, does it even matter anymore if they do? You only have to look at IRON and TITAN recently to realise that stable coins can become worthless overnight. IRON is a $1 stable coin that was effectively used to buy TITAN, sound similar to TETHER and BTC?
If this happens to Tether then the whole of Crypto will essentially crash and good luck trying to sell your coins when that happens and the exchanges mysteriously go offline.
I think Tether is still the key to the whole value of Crypto, and how much more can they create before it really starts to look silly?
Do Tether have $62 Billion sitting in a bank account, does it even matter anymore if they do? You only have to look at IRON and TITAN recently to realise that stable coins can become worthless overnight. IRON is a $1 stable coin that was effectively used to buy TITAN, sound similar to TETHER and BTC?
If this happens to Tether then the whole of Crypto will essentially crash and good luck trying to sell your coins when that happens and the exchanges mysteriously go offline.
I think Tether is still the key to the whole value of Crypto, and how much more can they create before it really starts to look silly?
The Spruce Goose said:
I'm wrong yes that makes sense, not.
No one in this thread ever expected the price it is now, and falling a few months back, I did. Not 15k yet but getting there. Yet I'm wrong, yes that works doesn't it. FFS this thread is just constant shilling with no real understanding behind BTC value. I pointed out the weaknesses, I called a price and took stick for it, because people like you don't really have a clue, don't look into the whole system just see a price and that's it.
No one else did. I've seen zero other analysis yet I'm the wrong one over and over lol
I'm happy to be out but it is as weak argument as you get, you are wrong that's it...
It’s still up 3x on the year.No one in this thread ever expected the price it is now, and falling a few months back, I did. Not 15k yet but getting there. Yet I'm wrong, yes that works doesn't it. FFS this thread is just constant shilling with no real understanding behind BTC value. I pointed out the weaknesses, I called a price and took stick for it, because people like you don't really have a clue, don't look into the whole system just see a price and that's it.
No one else did. I've seen zero other analysis yet I'm the wrong one over and over lol
I'm happy to be out but it is as weak argument as you get, you are wrong that's it...
And up 150x on 6 years.
Show me anything that goes in a straight line and I’ll give you a cookie.
Mr Whippy said:
It’s still up 3x on the year.
And up 150x on 6 years.
Show me anything that goes in a straight line and I’ll give you a cookie.
Whats that got to do with current status. i made 75x in 3 months off ETH. That has no relevance to current situation, the people that just hold before all this obviously do well. But being lucky doesnt mean you are right.And up 150x on 6 years.
Show me anything that goes in a straight line and I’ll give you a cookie.
Not to say it can't be fixed though, they might move mining operations to other countries, Musk might FRO, stablecoins might be properly audited and held to account?
Edited by anonymous-user on Tuesday 22 June 12:16
Joey Deacon said:
We are just about going to find out how much resistance there is to sub $30K bitcoin. Lots of the altcoins seem to be in freefall today, back to their values six months ago.
Yep I’m gonna be open and say I’m now about £1k down overall, despite taking out a chunk of profits in mid May. I still want to stay in for the long term but I’m now facing that difficult decision over whether to sell and try to buy back in lower.
MrChips said:
Yep I’m gonna be open and say I’m now about £1k down overall, despite taking out a chunk of profits in mid May.
I still want to stay in for the long term but I’m now facing that difficult decision over whether to sell and try to buy back in lower.
i still see potential just lower down, pos and NFT have good growth. BTC problem is the concentration of mining in the some of worst countries in the world. I think Ethics will play a part too. Bu realistically bounce is going to take time, maybe a few years. But sub 20k is buy time for most coins, half price sale etc.. It is why this thread goes quiet on downs, hardest thing is buying on a drop, easier to buy on the increase.I still want to stay in for the long term but I’m now facing that difficult decision over whether to sell and try to buy back in lower.
Edited by anonymous-user on Tuesday 22 June 14:22
£35 I’ll never see again 
Guvernator said:
No crystal ball required. History often repeats itself, we just need to learn from it.
Agree on that, we are all beneficiaries of being early adopters of crypto to learn/gain this experience. Doesn't overly annoy me its dropping, just irritates me I've not bought at the right time.
The Spruce Goose said:
It is why this thread goes quiet on downs, hardest thing is buying on a drop, easier to buy on the increase.
100%, but buying on the drop is when you are going to make your money assuming you are lucky and get the timing right. One thing I always find interesting is we always hear from the people who have made money, but never from those who bought at the peak and are sitting on a 50% paper loss today.I guess like everything the 80/20 rule applies, the 80% are losing money and effectively giving it to the 20%
Joey Deacon said:
The Spruce Goose said:
It is why this thread goes quiet on downs, hardest thing is buying on a drop, easier to buy on the increase.
100%, but buying on the drop is when you are going to make your money assuming you are lucky and get the timing right. One thing I always find interesting is we always hear from the people who have made money, but never from those who bought at the peak and are sitting on a 50% paper loss today.I guess like everything the 80/20 rule applies, the 80% are losing money and effectively giving it to the 20%
Do I ride it out or cut my losses now? No one knows
With a mention of IRON - this is an interesting read https://irony-97882.medium.com/the-melting-of-iron...
pomp1 said:
I’m £2k down. I bought ETH at $2600
Do I ride it out or cut my losses now? No one knows
Exactly this and it is a massive head fDo I ride it out or cut my losses now? No one knows
k trying to guess what will happen or chastising yourself for making the wrong choice. In the past I have got out of a coin because it is falling, only to see it rising again soon after. Or buying into a rising coin, only to watch it plummet like a stone straight after. Repeat this a few times and your money quickly starts to slip through your fingers.This is why I don't own any any more, I just don't have the right mentality for it and the chances of losing money are way higher than the chance of making a bit of profit.
Last coin I sold was Chainlink at about $13, I was kicking myself when it went up to $48 but I am feeling better about it now it is back down $15.55 today. It was only a few hundred quid though, no way could I have a lot invested without having a nervous breakdown at the volatility of it all.
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