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Cryptocurrency mega-thread

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ash_1050 said:
Yes, in the same way the 2020 Covid bubble was the shortest bear market on record for the stock market. The 2013/2017/2021 graphs are near identical thus far. I'm not sure if you remember the 2017 bull run but I do, and it's played out nearly identical in terms of hype/mania.
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I'm not sure we will go into a full bear market, I just don't think this bull run will be as parabolic as a lot of people expected.
 
ash_1050 said:
Yes, in the same way the 2020 Covid bubble was the shortest bear market on record for the stock market. The 2013/2017/2021 graphs are near identical thus far. I'm not sure if you remember the 2017 bull run, but I do, and it's played out nearly identical in terms of hype/mania.
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There are a lot of wrong people (people with experience as long as yours) if this is indeed now a long term bear market. Why is this any different to the short term bear market of last year? I don’t think many could’ve predicted it bouncing back that quickly during COVID times, so I just want to understand why you think this is long term recovery.
 

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Bostonian said:
I'm not sure we will go into a full bear market, I just don't think this bull run will be as parabolic as a lot of people expected.
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I have seen some of the crypto traders predicting a 2nd bull cycle not long after this one ended (which was originally September, but appears to have been brought forward to now).
 
Bostonian said:
If you don't know what ADA is then how do you know what it actually does?

What if it has real world function?
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Fair point

If it did and it was legitimately 3x more valuable than Santos, I'd have a rough idea of its purpose, heard of it, seen it advertised, or noticed outside of its bubble.
 
Ghost Patrol said:
If you want to compare apples with oranges, I'm pretty sure Santos does a lot more environmental damage than bitcoin, ADA, whatever.
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Who was making that comparison or what relevance does this have?

They almost certainly do though. I saw something regarding electricity usage for BTC being similar to tumble dryers in the US. If this is true (no idea where to verify this) I'm baffled as to why the wokies are hating btc for environmental purposes...

Ban tumble dryers by that logic
 
maryjames said:
Lol bitcoin crashed 40% in the 2017 bull run.

Anyway carry on champ.
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Source? I've got it going from a peak of $17,020 on Dec 17 2017 down to a low of $3417 on Feb 6 2019, which is a drop of 80%.

BACCS said:
There are a lot of wrong people (people with experience as long as yours) if this is indeed now a long term bear market. Why is this any different to the short term bear market of last year? I don’t think many could’ve predicted it bouncing back that quickly during COVID times, so I just want to understand why you think this is long term recovery.
Click to expand...

The 2020 flash crash mirrored the wider economic contraction due to covid. Shares, crypto, economies as a whole experienced the same abrupt downturn and then recovered. The current crypto crash is due to an enormous hockey stick growth with no underlying fundamental reason or rationale, and the market is correcting accordingly. It's going to be a rough 12+ months for holders.
 
burge13 said:
Who was making that comparison or what relevance does this have?

They almost certainly do though. I saw something regarding electricity usage for BTC being similar to tumble dryers in the US. If this is true (no idea where to verify this) I'm baffled as to why the wokies are hating btc for environmental purposes...

Ban tumble dryers by that logic
Click to expand...

There's X amount of wasted electricity - ie. too much is generated.

The amount that bitcoin uses is less than 0.1% of that waste.
 

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What I find funny is every bullrun I’ve been in the comments never really change.

You got the losers who lost and say it’s going to zero or you have the rich putting more in.
ash_1050 said:
Source? I've got it going from a peak of $17,020 on Dec 17 down to a low of $3417 on Feb 6, which is a drop of 80%.



The 2020 flash crash mirrored the wider economic contraction due to covid. Shares, crypto, economies as a whole experienced the same abrupt downturn and then recovered. The current crypto crash is due to an enormous hockey stick growth with no underlying fundamental reason or rationale, and the market is correcting accordingly. It's going to be a rough 12+ months for holders.
Click to expand...
source? Have a look 2017 bitcoin.. not hard.
 
maryjames said:
What I find funny is every bullrun I’ve been in the comments never really change.

You got the losers who lost and say it’s going to zero or you have the rich putting more in.

source? Have a look 2017 bitcoin.. not hard.
Click to expand...

Not sure what you're getting at. You claimed "bitcoin crashed 40% in the 2017 bull run. " when I've shown it dropped 80%, complete with evidence. You need evidence my man, you can't just make shit up on the fly.
 
Ghost Patrol said:
There's X amount of wasted electricity - ie. too much is generated.

The amount that bitcoin uses is less than 0.1% of that waste.
Click to expand...
It's odd that the wokies are targeting it with very little fight back if this is true

Elon will 100% have something coming for 'greener mining'. His behaviour the last week or so is a marketing tool, it probably helps Tesla more than BTC if it happens as it'll be under the Tesla umbrella. Just a theory/hunch
 
maryjames said:
You got the losers who lost and say it’s going to zero or you have the rich putting more in.
Click to expand...

I banked a 6 figure profit in the 2017 bull run and a 6x ROI in the 2021 bull run.

Curious to know what you've banked given all your hyping over the last 12 weeks.
 

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ash_1050 said:
I banked a 6 figure profit in the 2017 bull run and a 6x ROI in the 2021 bull run.

Curious to know what you've banked given all your hyping over the last 12 weeks.
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I’ve been in since 2015. And whole time holding and trading.

And 6 figures is meh .. just saying.
 
ash_1050 said:
Source? I've got it going from a peak of $17,020 on Dec 17 2017 down to a low of $3417 on Feb 6 2019, which is a drop of 80%.



The 2020 flash crash mirrored the wider economic contraction due to covid. Shares, crypto, economies as a whole experienced the same abrupt downturn and then recovered. The current crypto crash is due to an enormous hockey stick growth with no underlying fundamental reason or rationale, and the market is correcting accordingly. It's going to be a rough 12+ months for holders.
Click to expand...

www.blockchaincenter.net

🌈 Bitcoin Rainbow Chart (Live) - Blockchaincenter

The Rainbow Chart is not investment advice! Past performance is not an indication of future results. The Rainbow Chart is meant to be be a fun way of looking at long term price movements, disregarding the daily volatility "noise". The color bands follow a logarithmic regression (introduced by Bitcoi
www.blockchaincenter.net www.blockchaincenter.net

What a boring bull run if so. I wanted RED RAINBOW.
 

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