Is Bitcoin going to zero?

[Sparktrader]

Imo you need at least 3 reasons to buy. There are zero reasons atm.

 

No support

No higher low

No ma crossove

No indicator signal

 

0/4

 

Dont know who would be buying it.

 

 

[Walker88]

2 minutes ago, Sparktrader said:

On charts support is 14k. 

In uncharted waters, 'charts' are meaningless, full of false hopes and empty promises. Not sure why some people hold on to such views.

 

In Market Armageddons, prices blast through any and all support points. What is happening isn't a correction; the Four Horsemen are mounted and on the gallop.

[Walker88]

9 minutes ago, Walker88 said:

Also remember that in the event of bankruptcy, ALL assets of an exchange/dealer/bank/etc. are frozen, so anyone who has things held by any of the firms that sprang up around crypto will not have access until the bankruptcy runs through the court system, which generally takes years.

Also, unlike fiat held in a bank, there is no FDIC to guarantee each deposit up to $250,000.

 

It seems one by one all of the supposed benefits of crypto are falling by the wayside. Funny that. No FDIC, no real credit analysis of borrowers, a wildly volatile 'asset' that can, in a moment, hammer or help a borrower/hammer or help a lender, little to no anonymity, disincentives to use as 'acceptable currency' as Tesla found out, wildly expensive transaction costs, inexperienced and weakly capitalized entities that have sprung up to support this industry. 

 

OK Millennials. As Lloyd Bentsen might have said, "I knew the Medicis. You, Millennials, are no Medicis"

[Sparktrader]

[Sparktrader]

37 minutes ago, Walker88 said:

In uncharted waters, 'charts' are meaningless, full of false hopes and empty promises. Not sure why some people hold on to such views.

 

In Market Armageddons, prices blast through any and all support points. What is happening isn't a correction; the Four Horsemen are mounted and on the gallop.

Thats why you buy with at least 3 triggers not 1

[StayinThailand2much]

Maybe not zero, but 10,000 dollars (or less) is a possibility.

[StayinThailand2much]

1 hour ago, Walker88 said:

In uncharted waters, 'charts' are meaningless, full of false hopes and empty promises. Not sure why some people hold on to such views.

 

In Market Armageddons, prices blast through any and all support points. What is happening isn't a correction; the Four Horsemen are mounted and on the gallop.

Agreed, as recently most assets seem(ed) to know only one way: south...

Edited June 19, 2022 by StayinThailand2much

[ExpatOilWorker]

Yes, it will go to zero.

Soon miners will shut down and then you can't transfer it, even if you wanted.

[Doctor Tom]

11 hours ago, Boomer6969 said:

Now the Colón got buggered

This time it may be the Bitcoin holders that get buggered. 

[sitta]

Bitcoin drops below US$20,000 as crypto selloff quickens

[Sparktrader]

55 minutes ago, ExpatOilWorker said:

Yes, it will go to zero.

Soon miners will shut down and then you can't transfer it, even if you wanted.

They said that 5 years ago

[Sparktrader]

[Sparktrader]

Imo bitcoin is a great idea. However other coins are cheaper and faster to transfer.

[Dan O]

6 hours ago, ukrules said:

All your post demonstrates is that you don't know what a ponzi scheme is

You may want to look up the concept yourself.  You increase value of an "item" by convincing the next guy in line he'll make money by investing also.  There is no real asset behind the item or any govt backing to secure it. its just the hope others will continue to buy and push the price up. Once that stops there's nothing left to attach to retrieve your investment. 

[RafPinto]

13 hours ago, FritsSikkink said:

He might: Michael Saylor (MicroStrategy) Portfolio Tracker (saylortracker.com) 1490 million gone.

Margin call.

Also suffering is Cathie Wood.

Heavy into Ethereum and TSLA.
Ouch.

[RafPinto]

1 hour ago, ExpatOilWorker said:

Yes, it will go to zero.

Soon miners will shut down and then you can't transfer it, even if you wanted.

There are plenty of farmers in Isaan who wouldn't mind, mining weed and now crypto.
Bright future ahead.

[RafPinto]

Bitkub.

 

A lot of thais are on the train to become millionaires very quickly.

How many are gambling on borrowed money.

 

[Sparktrader]

13 minutes ago, Dan O said:

You may want to look up the concept yourself.  You increase value of an "item" by convincing the next guy in line he'll make money by investing also.  There is no real asset behind the item or any govt backing to secure it. its just the hope others will continue to buy and push the price up. Once that stops there's nothing left to attach to retrieve your investment. 

Backed by El Saldavor.

[Sparktrader]

Bitcoin is worth $4800 imo.

 

 

[pomchop]

now is the time for bitcoin cheerleaders to go all in and then tell all of us who think it is a giant scam what fools we are.....never understand why people who are so sure of their investment wisdom waste time trying to convince others of their wisdom and don't  just buy low and sell high if it is so easy.

[Iamfalang]

3 hours ago, Sparktrader said:

19,000 now fact

I sold you 92937492473249324732 Bitcoins at 19,000

 

I cannot wish you luck, because I love money soo much!!!   Bitcoin to 10,000 very, very, very, very soon.

 

As others sell their cars to buy more, I'm buying their cars.  lol

Edited June 19, 2022 by Iamfalang

[jvs]

Just wondering if the people who said they were going to buy if it would go below

20 000 already bought?and how much?

I never got into it and i am not really sure if that is a good thing or not.

I was going to buy when it went 8000 after a big setback but my brother talked me

out of it.

The thing for me is ,when would i have decided what is a good time to sell or would greed

have kicked in and waiting for more?

Any way,time will tell and i don't think we will have to wait very long anymore.

 

[KhunLA]

54 minutes ago, Dan O said:

There is no real asset behind the item or any govt backing to secure it. 

That applies to the stock market also, and it's all a perceived value.  If you hold a stock, and that company goes bankrupt, actually folds, you would be left with 0.

 

I've seen it happen.  NWA a prime example, even though DL acquired them, the stock had no value, if not sold on the rumor of buyout.  You lost all.

[GroveHillWanderer]

Bitcoin and Ethereum now both down ~40% over the past week.

 

Bitcoin price falls below $20,000 for first time since 2020

[OneMoreFarang]

15 hours ago, Hummin said:

Bitcoin questions is very much like “do you believe in god, and why”?
 

Nobody knowa, but many think they know, and to many do not want to miss the opportunity to join paradise, others fail because eaten of the forbidden fruit of wisdom and knowledge and missed out,  and do not believe for same reasons. Others being converted and hopefully they do not invest more than they can loose. Maybe paradise exists, I do not think so! 

Yes, nobody knows, but we can guess what will happen.

And I think it is entire possible that bitcoin and others will go way down - for many reasons.

It is of course also possible that their value will go up, and them maybe down, and maybe up again.

I think the main question should be: Do we want to take the risk and do we have a gambling nature?

 

It's obviously nice to wake up and look at the current value and think: Great, I made a couple of thousand dollars over night.

But it seems many guys look at those numbers all the time and they get obviously frustrated if the numbers go down. Personally I don't want to get frustrated all the time. That means I also won't have this "I just made thousands of dollars" feeling, but I prefer to have a relaxed time.

[spidermike007]

It is likely it will correct some more. But, in the long term, I think it will go up substantially, and the same for ETH. Alot of the others, who knows. But, no question it will remain very volatile, and most would be smart to only invest money they can afford to lose. I have a good friend who invested a fair amount of their savings in a crypto fund when Bitcoin was at $49,000. I advised that I would not do it, that close to it's historic peak. I do not think it was a smart move. They are lamenting the move now.  

[mahjongguy]

8 hours ago, shdmn said:

There could be some fake rallies...

Are those still referred to as a dead cat bounce?

[Walker88]

1 hour ago, KhunLA said:

That applies to the stock market also, and it's all a perceived value.  If you hold a stock, and that company goes bankrupt, actually folds, you would be left with 0.

 

I've seen it happen.  NWA a prime example, even though DL acquired them, the stock had no value, if not sold on the rumor of buyout.  You lost all.

There are differences....an equity begins as a going concern with a business behind it. bitcoin begins in search of a Greater Fool, like investors in Ishtar or The Adventures of Pippy Longstocking: The Prequel..

 

A public company finds a market niche and tries to exploit it. bitcoin is a solution in search of a problem.

 

If a company goes belly up, there is an 'order of battle' in a liquidation. IRS first, Senior Debt Holders, Subordinated Debt Holders, and then equity holders. If bitcoin goes to zero, 'thank you for playing; as a consolation prize you have a choice of a signed photo of Michael Saylor or Cathi Woods'

 

Edited June 19, 2022 by Walker88

[Adumbration]

14 hours ago, Neeranam said:

 

Of course it won't go to zero. 

 

Personally, I think the bottom is in at the prior all time high in 2017, 19k.

 

I don't think there will be new all time highs until Dec, 2023.

You are already wrong bumping on 18K today.

 

I am not a crypto cynic by the way.  I just have analysed bitcoin long term charts and I think 10K will be the significant resistance point this time around.  I did notice a bull trap rally yesterday however which did provide a good trading opportunity.

[Adumbration]

17 minutes ago, mahjongguy said:

Are those still referred to as a dead cat bounce?

Yep still a thing.  But yesterday was a bull trap rally.