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Cryptocurrency mega-thread

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BACCS said:
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What is always funny about this space is the amount of conflicting views/"truths" put forward by so called experts. At any one time there's information available that says to do 10 different things. It just goes to show that basically most people have nfi what they're talking about. It sits somewhere between sportsbet and the stock market. This is why I've said just look at it as a play thing, only put in what you're willing to lose and take wins along the way because nothing is guaranteed.
 
BACCS said:
Link is the video above.

Basically, if it is indeed still a 4 year cycle, there will be steady declines until early June to about 32k USD, after which if the trend follows 2017 then we will see ATHs by approx December this year.

If the cycle is now longer term, then yes it is unlikely we will see any bounce back until late next year/2023.

We saw a sharp spike off the 52 week rolling average in 2013, which we will hit at about 38k USD.

He also admitted that there is a chance of a small rally within the next few days, but didn’t seem super confident about this, just stating that it is has happened before.
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The 2017 trend went from a high on December 27 2017, to a low on Feb 6 2019, to a new ATH on November 18 2020. The new ATH took 3 years, and it's not unreasonable that plays out again. The important bit to note is that it dropped 80% between Dec 2017 and Feb 2019 before it started to trend upwards again, throwing money into a newly established bear market likely means you'll be averaging down for a while yet. Agreed with his last sentiment, as I suspect we'll see a small dead cat bounce rally in the next few days.
 

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BACCS said:
Link is the video above.

Basically, if it is indeed still a 4 year cycle, there will be steady declines until early June to about 32k USD, after which if the trend follows 2017 then we will see ATHs by approx December this year.

If the cycle is now longer term, then yes it is unlikely we will see any bounce back until late next year/2023.

We saw a sharp spike off the 52 week rolling average in 2013, which we will hit at about 38k USD.

He also admitted that there is a chance of a small rally within the next few days, but didn’t seem super confident about this, just stating that it is has happened before.
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I’ve followed Ben for years as I’m sure I’ve posted in this thread 6 or 8 months ago. What’s a few months between friends.lol

Shocks me some around here have never seen his work.

Blow ins.
 
Bostonian said:
People are investing based on potential of not just real world function but also on ideas for the future.

That kind of strategy has already proven it can pay huge dividends if you get in early on the next Apple, Google or Microsoft.

Regular people are sick of the likes of Santos and it's cronies in business and politics.

The working class people of the world are getting behind a decentralised view of the world, they are now part of a movement where they build communities around supporting an idea and benefiting from it financially in doing so.
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Nothing decentralized about crypto. Binance can close your exchange, the top 1% rule and so on. Its far less decentralized than you believe

I dont disagree people are over the current way of the world but crypto in its current form aint solving that. Not even close
 
ash_1050 said:
The 2017 trend went from a high on December 27 2017, to a low on Feb 6 2019, to a new ATH on November 18 2020. The new ATH took 3 years, and it's not unreasonable that plays out again. The important bit to note is that it dropped 80% between Dec 2017 and Feb 2019 before it started to trend upwards again, throwing money into a newly established bear market likely means you'll be averaging down for a while yet. Agreed with his last sentiment, as I suspect we'll see a small dead cat bounce rally in the next few days.
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There are also a lot of differences between this cycle and previous ones. A pandemic, namely. Given that this bull cycle appears to have halted a lot quicker than the majority expected and a lot of predictions of ATHs are off signficantly, I'm not sure why you're so confident we will get history repeating itself here, especially with big tech improvements for coins like ETH coming in the next few months.

Given that crypto is more maintstream than it was in 2017 too, who is to say institutions won't get in on this dip quickly? Why would they wait 3 years?
 
BACCS said:
There are also a lot of differences between this cycle and previous ones. A pandemic, namely. Given that this bull cycle appears to have halted a lot quicker than the majority expected and a lot of predictions of ATHs are off signficantly, I'm not sure why you're so confident we will get history repeating itself here, especially with big tech improvements for coins like ETH coming in the next few months.

Given that crypto is more maintstream than it was in 2017 too, who is to say institutions won't get in on this dip quickly? Why would they wait 3 years?
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In short I think we'll see a longer term (24+ month) depression in the crypto because there's nothing to suggest we won't, and plenty to suggest it's just history repeating for the third time. There's always been talk of 'institutions' coming on board, which, with the exception of Tesla buying up $1.5b worth before Musk came out as anti-bitcoin, it hasn't happened. 'Tech improvements' is also a phrase banded about every other month, there's always going to be tech improvements on things. No one buys Apple because iOS 14.5.1 just dropped, people should be buying on the basis of tangible use cases, of which there is very little for ETH and even fewer for BTC. Do I think smart contracts have a place in the future? Without question. Do I think the current iteration of crypto will be the driver in that? Absolutely not.
 
BACCS said:
There are also a lot of differences between this cycle and previous ones. A pandemic, namely. Given that this bull cycle appears to have halted a lot quicker than the majority expected and a lot of predictions of ATHs are off signficantly, I'm not sure why you're so confident we will get history repeating itself here, especially with big tech improvements for coins like ETH coming in the next few months.

Given that crypto is more maintstream than it was in 2017 too, who is to say institutions won't get in on this dip quickly? Why would they wait 3 years?
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Mate you be a millionaire before these guys ..
Most people with crypto are negative..and in there own lives.
Play the long game and you follow the right people. On track.

Money is fake. our financial system is one big scam.

Crypto is the only way to make millions of fiat in a short time without creating a great business.
 

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owen87 said:
Untrue.

You could win the lottery.
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Lol since 2011 bitcoin has cumulatively gains of over 20,000,000% til this year.

Nasdaq 100 541% gains since 2011.


Anyway hey guys remember bitcoin is a scam. Hahaha


Man I love being bitcoin rich.
 
HirdyLannister said:
This thread was fun and informative while having a good discussion.
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It was fun and informative while everything was going well. The market turns to crap and the thread follows.
 

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