Bitcoin about to Pop

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Hermit
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Re: Bitcoin about to Pop

Post by Hermit » Wed Jan 24, 2018 6:14 am

On bitcoin was worth just over 19,000 US dollars on the 18th of December. On the 18th of January it was worth just over US$ 10,300. A 45% drop in a month is not confidence inspiring. Sure, it may go up again, but it may also continue its path into the basement. Great for gamblers, I suppose.

One problem with bitcoin, and all other cryptocurrencies for that matter, is that it has the same intrinsic value as conventional currencies. 0
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Re: Bitcoin about to Pop

Post by pErvinalia » Wed Jan 24, 2018 7:11 am

I don't think having no intrinsic value is a problem, as long as the currency has a spread of uses. Bitcoin doesn't have that. At the moment its a speculative gambling tool. Although, you can pay some things with it (not that you'd want to given its transaction costs).
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Re: Bitcoin about to Pop

Post by pErvinalia » Wed Jan 24, 2018 7:20 am

pErvinalia wrote: Interestingly, the biggest downsides of bitcoin - its really high fees and really slow transaction speed, are considered positives by the bitcoin fanboys, as the intention of the bitcoin inner sanctum is to see bitcoin become like a digital gold. That is, a store of value. The harder and more expensive it is to do a transaction, the more likely people will hold for an extended period of time.
Regarding this, I read a story earlier today about how the Perth Mint was going to release its own cryptocurrency that is going to be backed by actual gold. Although I assume it won't be decentralised, so that will be a strike against it.
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Re: Bitcoin about to Pop

Post by rainbow » Wed Jan 31, 2018 5:55 am

It has dropped through $10 000, and the next resistance point is likely to be $6 000.

...according to technical analysis, which is bollocks.
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Re: Bitcoin about to Pop

Post by pErvinalia » Wed Jan 31, 2018 7:03 am

I've been following a suite of coins for the last month or so, and they all seem to be in a holding pattern of sorts. I expect investors are waiting to see how badly Bitcoin shits itself. I'm only holding coins that have a good protocol backing them and/or offer the potential of sustainability. I think we could be on the verge of a route, with the shitcoins getting the axe, and a smaller select group surviving.
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Re: Bitcoin about to Pop

Post by rainbow » Fri Feb 02, 2018 9:59 am

Now at $8 000. We should see $6 000 next week.
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Re: Bitcoin about to Pop

Post by pErvinalia » Fri Feb 02, 2018 2:00 pm

It's a fucking route today. Everything has been smashed.
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Re: Bitcoin about to Pop

Post by Scot Dutchy » Fri Feb 02, 2018 5:26 pm

Great!!!
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Re: Bitcoin about to Pop

Post by pErvinalia » Tue Feb 06, 2018 7:31 am

Bitcoin down to $6,227. All coins are getting hammered. I wonder when it will stop?
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Re: Bitcoin about to Pop

Post by Hermit » Tue Feb 06, 2018 8:15 am

pErvinalia wrote:Bitcoin down to $6,227. All coins are getting hammered. I wonder when it will stop?
After it drops another $6,226.56.
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Re: Bitcoin about to Pop

Post by rainbow » Tue Feb 06, 2018 9:50 am

rainbow wrote:Now at $8 000. We should see $6 000 next week.
Image

:demon: :demon: :demon: Sometimes I'm so accurate it's scary. :demon: :demon: :demon:
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Re: Bitcoin about to Pop

Post by rainbow » Wed Feb 07, 2018 9:40 am

So what the technical analysis says it should either bounce back from this resistance point, or break through it.
...then it will continue that trend, or change direction.
I call bullshit - Alfred E Einstein
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Re: Bitcoin about to Pop

Post by pErvinalia » Wed Feb 07, 2018 9:49 am

It's currently sitting at about $7900. So it's up about 30% from its recent low.
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Re: Bitcoin about to Pop

Post by rainbow » Wed Feb 07, 2018 10:20 am

Exactly as predicted.
It will now either adopt a holding pattern between $8 000 and $6 000, or it will breakthrough on the upside or downside.

Bet you, I'm spot on again.
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Re: Bitcoin about to Pop

Post by NineBerry » Wed Feb 07, 2018 10:21 am

I predict it will either rise, fall or remain the same. Believe me.

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