• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Crypto is Crashing HARD - opportunity.....

Cigarlover

Midas Member
Midas Member
Midas Supporter
Survivor
Joined
Dec 18, 2011
Messages
10,736
Reaction score
22,918
Somebody here guessed that BTC might be under $20K by the end of this week. That seems to me to be a pretty safe bet right now

Markets Cryptocurrencies
XTVCBTC--big.svg

BITCOINBTCUSD​

BTCUSD
bitstamp.svg
BITSTAMP
See more on advanced chart
20295.42
USD
−2259.85(−10.02%)
When is that dead cat gonna bounce? Or is it straight down to 12k from here?
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,009
Reaction score
30,844
Location
OTR
When is that dead cat gonna bounce? Or is it straight down to 12k from here?

I’ve heard that a lot of margin calls gonna happen as it gets lower. We might see epic deleveraging crashing it down to 10 or 13k
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,976
Reaction score
8,473
Location
NC
Cramer thinks Bitcoin retreats back to 12K. So you have to be looking for a bottom closer to 16K. Agree?
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,976
Reaction score
8,473
Location
NC
Let's break 20K first.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,009
Reaction score
30,844
Location
OTR
Centralized finance = strong likelihood of censorship also.

You can trade government cash and bullion person to person, but beyond that like digitally or long distance, what’s the answer? Gofundme or WesternUnion can be censored.

Btc = uncentralized
 

Au-myn

Goldbug
Founding Member
Site Supporter
GIM Hall Of Fame
Joined
Jul 2, 2010
Messages
1,264
Reaction score
2,354
Location
California
My take on BTC support. I am using a ST 3 x 750 square reversal Point & Figure chart for reference.
By extending the current Bearish support line begining with the wall of X's in January 2022 in a 45 degree angle the approximate current support is 12,000. BTC is presently trading in the lower third of its declining trend channel and is taking a beating across the board in Relative Strength. Most of the RS chart patterns that formed were #2 Double Top (Market bottom) buy signal breakouts.

In the meantime, keep an eye on the double bottom at 20,500 support for clues. JMO.

btc 750.png
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,976
Reaction score
8,473
Location
NC
Say goodbye to Hollywood. Max



 

the_shootist

Checked out! Good luck!
Eagle
Mother Lode
Joined
May 31, 2015
Messages
82,377
Reaction score
183,516
Where are all the folks who were telling us to get in at $40K+ before it went to the Moon?
We all would have been better off investing in toilet paper
 

#48Fan

Silver Member
Silver Miner
Joined
Mar 14, 2014
Messages
945
Reaction score
993
Where are all the folks who were telling us to get in at $40K+ before it went to the Moon?
We all would have been better off investing in toilet paper
DCA, it's the only way.
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,976
Reaction score
8,473
Location
NC
$16.5K is a level to watch. If it breaks, looks like 12K is in play.

Some of the more measured players are thinking nothing but air till 14K. Bounces here are there for sure but they can have this garbage for now too much risk. Inflation hedge? Nah. Spec play is all I think. Could always be wrong.
 

Voodoo

Midas Member
Midas Member
Sr Site Supporter
Platinum Bling
Joined
Mar 31, 2010
Messages
7,421
Reaction score
12,413
Location
Deep Underground Bunker
How about this Bitcoin... I'd buy this one.

Bitcoin Cash USD118.35
Or this one
Bitcoin SV USD51.83

This is one MAJOR flaw in the common nuance. Everyone says the supply is going to be limited and I think they are nuts or completely clueless. Have you not seen the giant lists of cyrptos now? Oops we split so that's a new 21 Billion or whatever.
 

the_shootist

Checked out! Good luck!
Eagle
Mother Lode
Joined
May 31, 2015
Messages
82,377
Reaction score
183,516
Relax, what we're seeing is simply a market adjustment!

1655561745686.png
 

ds_mustang

Libertarian, Capitalist, Software guy
Gold Chaser
Site Supporter ++
Joined
Apr 1, 2010
Messages
1,410
Reaction score
1,211
How about this Bitcoin... I'd buy this one.

Bitcoin Cash USD118.35
Or this one
Bitcoin SV USD51.83

This is one MAJOR flaw in the common nuance. Everyone says the supply is going to be limited and I think they are nuts or completely clueless. Have you not seen the giant lists of cyrptos now? Oops we split so that's a new 21 Billion or whatever.
A giant list of cryptos doesn't increase the supply of any particular crypto just as the giant list of metals and alloys doesn't increase the supply of gold.
 

nickndfl

Midas Member
Midas Member
Eagle
Joined
Jan 7, 2011
Messages
17,985
Reaction score
20,316
Location
Florida
Buy now is like jumping out of a plane without a parachute.
 

Voodoo

Midas Member
Midas Member
Sr Site Supporter
Platinum Bling
Joined
Mar 31, 2010
Messages
7,421
Reaction score
12,413
Location
Deep Underground Bunker
A giant list of cryptos doesn't increase the supply of any particular crypto just as the giant list of metals and alloys doesn't increase the supply of gold.

Gold is gold whether alloyed with silver or anything else. Still is counted. The supply of Bitcoin was doubled each one of these splits. Plus, the other cryptos may not be the same but would be the sidekick like silver. But, there is a never ending supply of "sidekicks" now. They aren't creating new useful metals everyday.

I still think they have a lot of utility and potential.... I just don't think this has been a good arguement.
 

ds_mustang

Libertarian, Capitalist, Software guy
Gold Chaser
Site Supporter ++
Joined
Apr 1, 2010
Messages
1,410
Reaction score
1,211
The supply of Bitcoin was doubled each one of these splits.
No, the supply of bitcoin is about 21 million million coins and someone creating a trillion "dogecoins" or forking off a dozen "Bitcoin Diamonds" or whatever doesn't change that.
 

ds_mustang

Libertarian, Capitalist, Software guy
Gold Chaser
Site Supporter ++
Joined
Apr 1, 2010
Messages
1,410
Reaction score
1,211
Buy now is like jumping out of a plane without a parachute.
Buying (bitcoin) now is getting 70% off. It might continue lower, but 70% off isn't bad. Ethereum is 80% off.


Honestly, anyone who thinks they should've bought during the last bear when crypto was cheap might think about what it means to buy during a bear.
 

Casey Jones

Train left the station...
Gold Chaser
Site Supporter ++
Platinum Bling
Joined
Apr 4, 2020
Messages
10,146
Reaction score
16,443
Location
Down the road from the Kaczynski ranch
Nineteen and change. Sixteen might not be far away...like, maybe, this afternoon.

Ordinarily I'd not gloat. I don't want to see people lose money, and especially not stackers here. But I'm fed up with the bitcoin dood-bro's who, at age 19, think they've figured out investing. Driving around in expensive bro-dozers, vaping, acting like what they are - arseholes.

And this after so many people, here, online, in real time, have so tried to explain the difference between speculation and investing. Between productive returns and Bigger Fools.

Seeing the smug ignorant wiped out, just gives me a giggle.
 

coopersmith

for fuck sake..........
Silver Miner
Joined
Mar 31, 2010
Messages
5,494
Reaction score
11,360
Location
ogallala flats
They havent lost anything if they havent sold.
 

Casey Jones

Train left the station...
Gold Chaser
Site Supporter ++
Platinum Bling
Joined
Apr 4, 2020
Messages
10,146
Reaction score
16,443
Location
Down the road from the Kaczynski ranch
They havent lost anything if they havent sold.
Well, you're right. They lost when they bought.

If they bought cheap, and missed the opportunity to sell at the insane higher figures...they lost a CHANCE at free money.

If they bought with the masses, at, say, $25k...well, you can say they didn't lose with this drop. But they lost with the purchase.
 

Nomis Elpmis

Minimalist
Silver Miner
Joined
Apr 2, 2010
Messages
554
Reaction score
522
3 tokens catching a bid and outperforming stable coins in this bear market. Are these the projects with real value/utility? Flight to quality?
cmc061822.jpg
 
Last edited:

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,009
Reaction score
30,844
Location
OTR
12 Kay.

I might start nibbling under 10.

I’ll buy at 10k

In the long run, btc will win against government currency.

All we have to do is wait for the next big bank or corporate bailout? Maybe when they start to give away 100 billion frn to Ukraine and btc is capped at 21 million it will become apparent.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,009
Reaction score
30,844
Location
OTR
Where are all the folks who were telling us to get in at $40K+ before it went to the Moon?
We all would have been better off investing in toilet paper

I don’t see too many analysts that don’t have a positive outlook on it in the long run.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,009
Reaction score
30,844
Location
OTR
No, the supply of bitcoin is about 21 million million coins and someone creating a trillion "dogecoins" or forking off a dozen "Bitcoin Diamonds" or whatever doesn't change that.

Btc has a limit of 21 million and I believe something like 90+% of that 21 million are already out there and the number of new coins released to circulation gets cut in half about every 4 years.

Compared to government currency it’s not close.
 

<SLV>

Platinum Bling
Sr Site Supporter
Platinum Bling
Joined
Apr 1, 2010
Messages
6,875
Reaction score
11,805
3 tokens catching a bid and outperforming stable coins in this bear market. Are these the projects with real value/utility? Flight to quality?View attachment 264301
IMHO... only Bitcoin. Period. It invented the space, and it will always dominate. Etherium is attractive from a usage standpoint (as is Solana), but it lacks the libertarian privacy inherent in Bitcoin.

Bitcoin will become a reserve currency of nations bigger than El Salvador or Florida. And as it achieves this status expect it to approach $1M. (At that time gasoline might be $1,000 per gallon).

I think the price will stabilize once it has wide acceptance on the government level. It will have to when it is linked to a basket of currencies.
 

ZZZZZ

Midas Member
Midas Member
Midas Supporter
Joined
Dec 23, 2017
Messages
9,787
Reaction score
23,142
Location
Northern Arizona
FWIW from a gold bug perspective.

Peter Schiff
@PeterSchiff
With Bitcoin's morning low near $18.7k, the hope that the 2017 peak of $20K would act as support is gone. Objectively, looking at the chart, there really is no viable support left. Most likely #Bitcoin will find some short-term support along the long-term trend line around $6K.
.
.
 

Nomis Elpmis

Minimalist
Silver Miner
Joined
Apr 2, 2010
Messages
554
Reaction score
522
IMHO... only Bitcoin. Period. It invented the space, and it will always dominate. Etherium is attractive from a usage standpoint (as is Solana), but it lacks the libertarian privacy inherent in Bitcoin.

Bitcoin will become a reserve currency of nations bigger than El Salvador or Florida. And as it achieves this status expect it to approach $1M. (At that time gasoline might be $1,000 per gallon).

I think the price will stabilize once it has wide acceptance on the government level. It will have to when it is linked to a basket of currencies.
Bitcoin SV (BSV) is a fork back to original Bitcoin. Bitcoin Core (BTC) is a 'Segwit' fork of away from original Bitcoin.