/biz/ - Business & Finance

Mt.Gox just liquidated enough bitcoin+bitcoincash to cover creditors claims, but there are still +160k btc and bch that could keep being dumped by the bankruptcy trustee. Bulgaria hasn't reported what they are doing with the 200k btc they hold (worth right now over 13% of their national debt), but sooner or later the will dump them if they hadn't done it yet. And mt.gox coins being dumped might trigger someone in bulgarian govt (I guess the can't until the investigation and the case are over).

We still face the bitfinex-tether issue. It has been over 40 days since last tether issuance of USDT and despite an obviously bear market the amount is not decreasing, that is proving what I already knew and shared a few times: USDT cannot be redeemed into USD. The only use of a USDT (and that goes for bifinexUSD-iou's too) is to buy more cryptos, and despite a massive amount of them the market is failing to make new highs for over 70 days.

I have no doubt that 2018 is going to be a red year for bitcoin , the first red year since 2014

The question is more about how low rather than if the close will be lower or not. Probably near 3k USD.

Tether and Bitfinex are a problem for the whole cryptomarket, Bulgaria and Mt.Gox holdings are a problem specially for BTC 2.74% and BCH.

Onchain usage is going down, trading volume is going down, google -0.80% searches are going down, velocity of the ecosystem is going down and basically every metric has decoupled from past years trend and has plummeted.
The new paradigm is not as bullish as some used to think, adoptions has frozen, usage is going down and uncertainity is growing massively. That leaves only one path forward: down.

As a bitcoin bear I am waiting for a more delusional market to re-enter the market. As a bitcoin bull I am waiting for real panic to re-enter the market. I shorted 15k down to 10k and longed 6k up to 10k - this is a waiting game, get the perfect setup, take measured risks and go in hard.

Whats your financial plan B?
Are you actively working on one?
If all goes to shit, will you keep it together?

I sold everything. I made about $5k in profit since December. Obviously I would have made more if I had sold a week ago or even yesterday, but whatever.

It's been fun. I'm sure I'll be back when the market stabilizes, but for now I'm feeling pretty comfy with USD.

Goodbye my friends.

EXTRA EXTRA READ ALL ABOUT IT

4CHAN BUYS BCH, CRASHES WORLD BANK