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The effect of a stock market correction/crash on cryptos? 4 replies

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Is Bitcoin about to crash?

  • #281
  • Edited 1:14am Oct 23, 2019 12:30am | Edited 1:14am
Quoting cryptocow
{quote} Bitcoin is a volatile asset for sure. People tend to be slow in adopting new technology. Even personal computers were slow to catch on. Ken Olsen famously said there is 'no reason for any individual to have a computer in his home'. How's that sound today? Bitcoin and other cryptocurrencies will take off. It's just a matter of time.
Hi, guys ...bulls and cows, whatever!

Please, stop using this kind of fallacy!
Stop comparing the cryptocurrencies only with the great inventions!

Is like you try to validate a hypothesis using the analogy with real historical facts.
- If the moon landing seemed impossible but they did it somehow, doesn't imply that is just a matter of time until the pigs will fly !

Many other great financial "inventions" failed, but you are doing only this cherry picking!...
You keep comparing the crypto ONLY with the great successful inventions!

The gold standard, the dot.com deal, the subprime credit, tulipmania... they all seemed very attractive, fantastic deals from the very start! But they've been proved in time so wrong and vicious!

What you do is only cherry picking and pure bias... ok, this is not necessary a bad thing, but you ignore the fundamentals of finance !
I mean, "fundamentally" pigs can't fly, FFS! ...and it's not a matter of time!

Cheers, everybody!
Member
  • #282
  • Oct 23, 2019 2:58am Oct 23, 2019 2:58am
Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSDmWeekly.png Size: 41 KB


This simple weekly chart tells everything
  • #283
  • Oct 23, 2019 7:54am Oct 23, 2019 7:54am
Attached Image (click to enlarge)
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  • #284
  • Oct 23, 2019 7:59am Oct 23, 2019 7:59am
Quoting cityRat
{image}
Panties droppin!
Money = Labour coupons
  • #285
  • Oct 23, 2019 8:32am Oct 23, 2019 8:32am
Quoting TudorIoan
{quote} Hi, guys ...bulls and cows, whatever! Please, stop using this kind of fallacy! Stop comparing the cryptocurrencies only with the great inventions! Is like you try to validate a hypothesis using the analogy with real historical facts. - If the moon landing seemed impossible but they did it somehow, doesn't imply that is just a matter of time until the pigs will fly ! Many other great financial "inventions" failed, but you are doing only this cherry picking!... You keep comparing the crypto ONLY with the great successful...
Oh, Jeeez! Pigs can't fly!
Member
  • #286
  • Oct 23, 2019 1:55pm Oct 23, 2019 1:55pm
Quoting TudorIoan
Many other great financial "inventions" failed, but you are doing only this cherry picking!... You keep comparing the crypto ONLY with the great successful inventions! The gold standard, the dot.com deal, the subprime credit, tulipmania...
Comparing Bitcoin to tulipmania is like comparing a majestic and regal cow to a feral cat.
  • #287
  • Oct 23, 2019 4:51pm Oct 23, 2019 4:51pm
Quoting TMR
{quote} Panties droppin!
Yep, and I think this plunge has some legs to it. Now is a great time to remind myself to separate long term belief in any instrument with short term price action and opportunities.
  • #288
  • Edited 5:11am Oct 24, 2019 12:07am | Edited 5:11am
Quoting cryptocow
{quote} Comparing Bitcoin to tulipmania is like comparing a majestic and regal cow to a feral cat.
Nope. Basically, they are both obese cows. Swollen because of their stupidity and greed.
And they are both wild and will always stay marginal for the global society.

Anyway, the point was the fallacy of comparing the bitcoin only with the great inventions.
Member
  • #289
  • Oct 28, 2019 2:17pm Oct 28, 2019 2:17pm
Quoting vanillaice
{quote} Yep, and I think this plunge has some legs to it. Now is a great time to remind myself to separate long term belief in any instrument with short term price action and opportunities.
What an idiot!!! All my short-term trades crashed out on the weekend. Could've tried to catch the wave while it was pumping but my mind wasn't in the markets. Coulda woulda shoulda...
  • #290
  • Dec 17, 2019 6:03pm Dec 17, 2019 6:03pm
Ages since I posted on this thread, but as BTC looks to be about to plummet to challenge the Dec 2018 lows, I thought I'd give a quick update.

BTC looks well set to continue falling heavily back toward the bi-weekly 100sma - technically, there is nothing at all to stop this. So, back to $5,000, but I would say it's even more bearish than the last time it fell to this level, and once it hits the 100sma again, it may rally off of it, temporarily, but then 4,3, or even the dreaded ZERO looks possible. Surely not!!!! My chart definitely shows $3000 is easily reachable, and from there, it really isn't that far to zero.

If you're hanging on from the highs of $20,000, and I know people who are, good luck is all I can say!
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  • #291
  • Dec 18, 2019 4:50am Dec 18, 2019 4:50am
Bitcoin is about to crash, of course, is on the chart!
But the worse is its instability. That makes it insane to hold.... maybe only to speculate and rob the naive.
Private money can't have any future ...not any bright future than casino chips anyway!
Member
  • #292
  • Dec 23, 2019 12:22am Dec 23, 2019 12:22am
As we can still measure ups and downs in the price of bitcoin I don't think so that it is going to crash easily...
  • #293
  • Dec 23, 2019 3:21am Dec 23, 2019 3:21am
Quoting Debby0899
As we can still measure ups and downs in the price of bitcoin I don't think so that it is going to crash easily...
Aha, good point. On the long run we're all dead, right! but the whole point is how long is the long run
Member
  • #294
  • Dec 23, 2019 4:23am Dec 23, 2019 4:23am
It can't disappear like that. It's been adopted at the CME, there is a reason for that.

We'll see up & down for sure, but gone forever? low probability.
We can head way lower for sure, which will be a good opportunity to buy into it and enjoy a few (a lot) percents ride IMO
COT: The precious data ignored
  • #295
  • Edited 11:30am Dec 23, 2019 4:47am | Edited 11:30am
Crypto will never die.
Because the frustrated subversive anarchists, economic illiterates, crooks and naive greedy losers won't ever disappear.

Everything is rotten in crypto, but the crypto cult's typical hypocrisy and idiocy will feed this utopia forever.

I guess it will remain marginal as any radical, extremist group outside the law...
The Law will never allow the anonymity of transactions as the best medium of exchange for money laundry, evade taxes, financing terrorism...
Member
  • #296
  • Dec 23, 2019 5:17am Dec 23, 2019 5:17am
Quoting TudorIoan
Crypto will never die. Because the frustrated subversive anarchists, economic illiterates, crooks and naive greedy losers won't ever disappear. Everything is rotten in crypto, but the crypto cult's typical hypocrisy and idiocy will feed this utopia forever. I guess it will remain marginal as any radical, extremist group outside the law... The Law will never admit the anonymity of transactions as the best medium of exchange for money laundry, evade taxes, financing terrorism...
It will never die, its like the s&p will never fall

Same ideology
COT: The precious data ignored
  • #297
  • Dec 23, 2019 5:22am Dec 23, 2019 5:22am
Quoting kuroro001
{quote} It will never die, its like the s&p will never fall Same ideology
S&P is backed by a strong economy.
Crypto is just some encrypted computer files backed by people who imagine a new global order without governments. Duuuh!
Well, nobody likes Uncle Sam but the alternative is insane so far.
Member
  • #298
  • Dec 23, 2019 8:47am Dec 23, 2019 8:47am
Quoting TudorIoan
{quote} S&P is backed by a strong economy. Crypto is just some encrypted computer files backed by people who imagine a new global order without governments. Duuuh! Well, nobody likes Uncle Sam but the alternative is insane so far.
Strong not really, more likely backed by some central banks
COT: The precious data ignored
  • #299
  • Edited 11:33am Dec 23, 2019 8:47am | Edited 11:33am
Quoting kuroro001
{quote} Strong not really, more likely backed by some central banks
Cetral banks are not idiots. They don't back up morons, nor losers
Member
  • #300
  • Dec 24, 2019 10:45pm Dec 24, 2019 10:45pm
Quoting kuroro001
It can't disappear like that. It's been adopted at the CME, there is a reason for that. We'll see up & down for sure, but gone forever? low probability. We can head way lower for sure, which will be a good opportunity to buy into it and enjoy a few (a lot) percents ride IMO
Actually, in this modern era, digitalization is on the peak and people are also adapting it. So, I believe that this digital currency won't let anyone down and will survive in the long run too....
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