1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

*** Official Bitcoin Price Discussion Thread ***

Discussion in 'Crypto Currency & Mining' started by morguk, Dec 28, 2016.

  1. Trusty

    Capodecina

    Joined: Mar 12, 2006

    Posts: 11,312

    Location: On A Rocket

    I was thinking about the mining companies, if something goes wrong with them, the network is open for attack.
     
  2. kindai

    Soldato

    Joined: Aug 9, 2013

    Posts: 6,673

    Location: Bromsgrove

    Look at where the money is flowing, ill save you the donkey work, its not coming into bitcoin. Money is just sloshing between people already in there. This run is unsustainable unless we get more outside money coming in.
     
  3. kindai

    Soldato

    Joined: Aug 9, 2013

    Posts: 6,673

    Location: Bromsgrove

    Generous case to allow money to start moving in pre-halvening.

    The pullback ive done to 50% of the recent run is generously bullish, I think if we dip below 8k even shortly a deeper pullback to 786 ($6k) and wicking 886 ($5100) of the entire high is likely.

    [​IMG]
     
  4. wesimmo

    Mobster

    Joined: Mar 19, 2012

    Posts: 3,069

    This is where crypto is generally I think.

    It's basically a load of people at a poker table, some are winners some are losers, but unless more people sit down at that table then not everybody can get rich.
     
  5. Bluecube

    Wise Guy

    Joined: Feb 20, 2011

    Posts: 1,894

    Seems to be ticking up nicely at the moment. Could be a slow pile in to profit from the halfening.
     
  6. 413x

    Capodecina

    Joined: Jan 13, 2010

    Posts: 17,291

    Location: Cardiff

    Don't think so.
    The whole market is up.

    My Bch is up 80 in a month
     
  7. Bluecube

    Wise Guy

    Joined: Feb 20, 2011

    Posts: 1,894

    Just noticed that too. That surely means that it’s new money entering the markets?
     
  8. 413x

    Capodecina

    Joined: Jan 13, 2010

    Posts: 17,291

    Location: Cardiff

    Might be entering a new bubble.
    Agreed it must be. I don't know if it's now too late for me to add more cash.

    I have 10 bch But the risk of a fall to any new money is high.
     
  9. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,536

    Location: Aberdeenshire

    Might not be new money merely people are tending to hold/buy more relative to those selling. Can usually see a downward spike in Tether when there’s an upward movement of everything else.
     
  10. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,927

    Location: N.Ireland

    Tether manipulating for years, I would not use it as a sole gauge on market sentiment.
     
  11. KiNgPiN83

    Mobster

    Joined: Nov 16, 2003

    Posts: 3,898

    Location: Chatham

    Exactly, someone has to be the poor ******* sat there at the end of the night with empty pockets. I honestly think that the last big run where it hit 20k has burnt enough people that it will take a while for anyone new to get involved. My work colleague had friends dropping thousands into the bigger alts, buying Bitcoin miners etc and they literally had no understanding of what crypto was, how it works etc. Basically they just thought it would be easy money... Not sure how many of them got out before it dropped but it wouldn't surprise me if they are still holding onto them now.

    The biggest oof more me however was the same colleague along with a couple of guys in our German office had signed up to one of those schemes where it was supposed to make x amount per day, you got an extra x amount for a referral etc etc. And to be honest, whole the price was rising it did go up and i saw it going up in their little consoles. However, when the drop came the balances slowly dropped their way down, withdrawls got blocked and basically they were told unless the BTC value gets back up to £10k or something you wont get anything back... (It all worked out on the value you bought in at i think?) I stopped asking him whether he'd got anything back after a while as i think it just brought back bad memories for him! Lol! However i'm pretty sure the guy in the German office had dropped about 5k into this scheme. (My colleague about 1k i think..)
     
  12. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,927

    Location: N.Ireland

    That has been around for generations termed as far back as the 1800's, they are called ponzi schemes and not just a crypto issue.
     
  13. Bigpops

    Mobster

    Joined: Oct 18, 2002

    Posts: 4,181

    Location: Sheffield, UK

    Well, with the weekly close over $9550 (and well over), the 7 month down trend is officially over as we made a higher high. Every time that's happened before, it's lead to a medium or long term bull market and the opposite is also true for a bear market. This already happened on CME futures on friday, and on Litecoin 2 weeks ago. Once again, Litecoin lead the market just like in 2019.

    I still need some pull backs before I buy any more. I'm not buying unless there's been at least a 10% drop. Looking at it, I really should be buying ETH or LTC or something though.
     
  14. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,927

    Location: N.Ireland

    Was thinking same @Bigpops I converted to USDT hoping for a big enough drop to buy back in waiting for the next run upwards, am hoping I dont bungle this up.
     
  15. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 3,289

    We're not going to crack the 5 figure mark with ease, just hold on. Anything under 10k is worth it imo (with a 2 year outlook)
     
  16. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,536

    Location: Aberdeenshire

    Woooosh!
     
  17. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,927

    Location: N.Ireland

    Ffs. lol.
     
  18. 413x

    Capodecina

    Joined: Jan 13, 2010

    Posts: 17,291

    Location: Cardiff

    Feels like a much more stable growth this time.

    Not sure what is causing it but it feels less like a pyramid scheme (even though it is)

    No idea whether to deviate from bitcoin cash or not. Still feel crypto is 'crypto'
     
  19. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,536

    Location: Aberdeenshire

    Crypto isn't a pyramid scheme.
     
  20. uncle_rufus

    Mobster

    Joined: Mar 14, 2011

    Posts: 4,087

    Yeah indeed... there have been some projects in the crypto space that have behaved with elements of a pyramid scheme (some of the ICOs where they have the whole "get friends to sign up as well to unlock bonuses" type setup) but not the entire thing :p