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Merged Bitcoin - Part 3

Belz... said:
Like ******* clockwork. You just can't help yourself.
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Edited by xjx388: 
<SNIP>Rule 0; Rule 12
if there is a fall in the price of bitcoin you have to make a big deal about it as if it is something rare.

Edited by xjx388: 
<SNIP>Rule 0; Rule 12
 
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psionl0 said:
Edited by xjx388: 
<SNIP>Rule 0; Rule 12
if there is a fall in the price of bitcoin you have to make a big deal about it as if it is something rare.

Edited by xjx388: 
<SNIP>Rule 0; Rule 12
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To be fair, this particular fall is out of the ordinary. It's not just your run-of-the-mill fluctuation.
 
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psionl0 said:
It's always different. There is always a unique reason why the bubble burst this time.
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I got the impression that you were implying that this was just a normal run-of-the-mill variation. The Chinese crackdown isn't something that has happened before. Musks announcement that Tesla will no longer accept bitcoin isn't something that has happened before. That the plummetation is affecting all currencies at the same time isn't something that has happened before.
 
arthwollipot said:
I got the impression that you were implying that this was just a normal run-of-the-mill variation. The Chinese crackdown isn't something that has happened before. Musks announcement that Tesla will no longer accept bitcoin isn't something that has happened before.
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At each major bubble bust, you will find some unique event that is said to be the cause of it. Even as far back as 2011, the hacking of MtGox decimated the price of bitcoin and it seemed that the price would never recover. This is just history repeating itself with a different "cause".

arthwollipot said:
That the plummetation is affecting all currencies at the same time isn't something that has happened before.
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Actually it has.
 
psionl0 said:
At each major bubble bust, you will find some unique event that is said to be the cause of it. Even as far back as 2011, the hacking of MtGox decimated the price of bitcoin and it seemed that the price would never recover. This is just history repeating itself with a different "cause".
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The China crackdown is going to permanently affect the market by changing how bitcoin can be mined. That's what's different.

psionl0 said:
Actually it has.
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Not as consistently. All currencies affect one another to some extent, but they remain largely independent. As I have mentioned previously, Etherium is generally more stable than Bitcoin is, but even ETH has joined the plummetation.
 
arthwollipot said:
The China crackdown is going to permanently affect the market by changing how bitcoin can be mined. That's what's different.
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Don't take my word for it. These bitcoin threads span a decade and if you go back you will find that EVERY time a major bubble burst, it was "different this time" because ......

If mining does curtail in China then it will just make it easier for the other miners.
 
psionl0 said:
Don't take my word for it. These bitcoin threads span a decade and if you go back you will find that EVERY time a major bubble burst, it was "different this time" because ......

If mining does curtail in China then it will just make it easier for the other miners.
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By shifting the balance of the mined coins to different regions and different actors, it will change the market. Precisely how, I don't know.
 
I don't think the burst is special. But it may show up it has been. China may inspire other countries, and it may snowball. In which case this would be start of the end.
 
I think we should consider what the chart tells us.
This is a powerful elliot 5 wave move from the top.
This guarantees new lows.
85% declines have occurred twice previously, which means nothing, but if so about 12000 is the target.
 
Belz... said:
Making predictions is fun!
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Yes it is.
Testable on this forum.
I made countless predictions on the TA threads that came to pass.
No good deed should go unpunished however.

I state now that cryptos are rat poison and the pied piper will teach the villagers to avoid greed..
 
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