Bitcoin Cracks $5000

[dannno]

Sensitive are we, since I clearly never even inferred anything like that.

Maybe you were too young to remember when the irrational part of the dot com bubble burst. The days when everyone and their brother was buying domain names thinking they would be worth a fortune. Domains were over valued but that did not last long and the flow of money to ridiculous business plans stopped, the bubble burst. Many lost money on their investment, lost jobs and companies closed.

No, I'm not too young to remember the dotcom bubble..

My point is bitcoin has gone through this several times before, this isn't some indication that bitcoin is going to burst and go away, it's just natural volatility as the price rises.

 

[anaconda]

$15,770

On the rise.

 

[kahless]

No, I'm not too young to remember the dotcom bubble..

My point is bitcoin has gone through this several times before, this isn't some indication that bitcoin is going to burst and go away, it's just natural volatility as the price rises.

Domaining and the internet did not go away when the irrational period ended, neither will Bitcoin. Just saying the period is reminiscent of that. Is this the irrational period of Bitcoin and it will level out with a more realistic value, it almost seems like it but neither one of us really knows.

 

[dannno]

$16,855

 

[devil21]

$16,855

Y'all know about the bitfinex Tether scam, right?

eta: Soooo....when does this thread switch to reporting 'bitcoin futures' instead of bitcoin? CNBC already reports the futures figures instead of the exchange figures.

 

[Mordan]

Y'all know about the bitfinex Tether scam, right?

people holding tether will be rekted...

Bitcoin unaffected. If any, price of bitcoin will increase even more. Tether holders selling at any cost for the most liquid crypto.

Bitcoin shines compared to bad money.

 

[Krugminator2]

You won't need to put "corrections" in quotes after the next couple of days. We'll see how long that consensus lasts.

Here is a prediction for all the people who have chased Bitcoin up.

Got the $4k pullback right but was definitely wrong overall. Odds heavily favored it being a top. It is trading super strong. Probably a push to a new highs. This thing hasn't had any aggressive selling in a year. Amazing.

 

[devil21]

people holding tether will be rekted...

Bitcoin unaffected. If any, price of bitcoin will increase even more. Tether holders selling at any cost for the most liquid crypto.

Bitcoin shines compared to bad money.

No, I meant how Tether is being created then directly used to bid up bitcoin, giving the false appearance of dollar investment into bitcoin.

Here's one write-up. It's catching on elsewhere that there's fraud going on in these markets to get people to buy in with real dollars/currency, chasing after a rising market flooded with "fake" currency and spoof bids.

https://medium.com/@bitfinexed/are-...d-for-margin-lending-on-bitfinex-5de9dd80f330

If they are in fact wash trading and buying from their own sell orders with money borrowed from their own fraudulent offers backed by fake Tethers, there’s no problem. They can manipulate the price upwards and they all know the money is fake.

But the money they make from selling Bitcoins on other exchanges, and to sucker OTC buyers, isn’t fake.

Now, let’s look at the chart for the period during the creation of $80 Million in Tethers.

{chart}
Capitulation, and then suddenly… BOOM!

A $1,000 rally in five days… just days after a bunch of new Tethers were issued, is nothing short of amazing coincidence.

Another, more recent commentary:
https://seekingalpha.com/article/4131159-regulators-must-investigate-bitcoin-tether

This is probably how stock markets really operate, too. Valueless Fedbux bidding up stocks to sucker in earned dollars. That also fits with the likelihood the bitcoin mania is a banker ploy to introduce crypto/blockchain to the sheep. It's the same playbook. I digress...
eta: "dark money" runs markets - http://www.zerohedge.com/news/2017-12-16/nomi-prins-dark-money-runs-world
-----------------

Also interesting how bitcoin stopped the parabolic rise as soon as the CBOE futures market started. It's been sideways all week. Y u no want bitcoin so bad now? Looks like the upward manipulation stopped as soon as a regulated futures market sprung up. Wish I had cash to short the shit out of the futures markets. When this Tether info goes MSM mainstream, bitcoin will drop like a stone and everyone that runs for the exits will quickly find the exchanges "having technical difficulties" and never be able to cash out. The cash-out money isn't there and the market was fake.

 

[anaconda]

$18,134

 

[TheTexan]

#crashing #up

 

[anaconda]

$18,540

 

[anaconda]

$18,673

 

[dannno]

$19,189

 

[anaconda]

#crashing #up

Need aeronautical .gif please

 

[anaconda]

I wonder if bitcoin can contain itself and stay under $20k before 2018?

The force is strong with dannno..

 

[anaconda]

$19,510

 

[anaconda]

So, if BTC goes up twenty fold for 2017, how many fold would be reasonable to expect for 2018?

 

[anaconda]

I digress, but why couldn't the market price BTC at $19,000 3 weeks ago when it was $8,000? What continually new and apparently unexpected information is forever failing to be recognized by the speculators? Or is the market highly irrational? Perhaps terribly inefficient in some way?

 

[TheTexan]

I digress, but why couldn't the market price BTC at $19,000 3 weeks ago when it was $8,000? What continually new and apparently unexpected information is forever failing to be recognized by the speculators? Or is the market highly irrational? Perhaps terribly inefficient in some way?

The early BTC investors now driving lambos didnt account for how much hookers & coke they would need

 

[anaconda]

The early BTC investors now driving lambos didnt account for how much hookers & coke they would need

Wouldn't that create a selloff and downward pressure on the price?