/biz/ - Business & Finance

>>10559823
10-16k inbound then 60k by EOY.

I have a feeling we're going to 200k
then I can finally pay off my toyota and student loans

>>10559823

etf is the catalyst. there is still too much downward pressure for us to see a bull like last year unless we unleash the etf beast. Then I could see us pumping it to 100k and beyond.

>>10559861
yeah the bogs can contain the current market of memes and pepes, but we're talking satanists who worship baal and destroy nations for generations entering the game
try and short that nigger

>>10559873
>>10559839
very possible.

>>10559823
Chart analysis is bullshit.

everyone i know already sold in complete panic, i havent been sleeping for weeks, bottom has to be somewhere.

>>10559833
Checked

>>10559932
I'm actually buying right now, I cashed out 30% in december last year and I've been accumulating my position back these past couple weeks
this way next time I cash out 30% my taxes are cheaper due to a higher buy in point and I still have some money left over to spend on shit I don't need

>>10559858
pretty much. Bulls are max deluded.

time flies, we've been in a bear for 8 months/3 quarters, the last bull market was from summer 15 all the way to winter 17, 2 and a half years. i think we'll see a few more months of a bearish market, even if the prices don't decrease much more.

but as far as retraces go. were about 2/3rds down, which is right at the point where bitcoin normally bottoms out give or take 20%

>>10559858
That's req not bitcoin.

goodluck bitcoin holders, may god release his bull seed on to you and have pity on us altcoiners. May he also forgive nocoiners for their transgressions.

https://www.reddit.com/r/BitcoinMarkets/comments/94gbqv/daily_discussion_saturday_august_04_2018/e3mfrov/

HAHA FOUND IT

>>10559966
alts have always risen in a bull market with bitcoin, the problem altcoin bagholders have is that their shitcoins are fighting for liquidity with all the others, and they will always fall out of favor for a hotter alt and get left behind. the only way out of that cycle is to find a niche where your network is actually depended on, like bitcoin, and most recently ethereum.

random icos, funding tokens, app tokens, chinese coins, are all destined for zero at some point in the future, through competition, oversupply, or most commonly a coin that's only useful to pay a fee or service for one niche network that never sees any real adoption.

the myth of the long term altcoin hold is going to continue to burn people for as long as cryptocurrency exists.

>>10559823
still in denial

>>10559823

lol the post literally says this is a sucker's rally - too funny yet accurate when comparing the correlations in charts and sentiments - good find OP

jan crash - now has been complacency, because a significant portion of people are convinced there will be another run this year and everything will be fine

it won't be fine

when they realize this and the market drops to sub 100b market cap with multiple dozens of tokens going dark, we can consider it a true correction

>>10560030
yep I agree, 95% of the people on reddit still talk about how this is normal for crypto, everything is fine, just learn to hodl, blablaa.

>>10560030
>>10560053
It's all about BTC dominance, atm. imo.

>>10560030
you're missing the point, most of the dumb money has loaded up on shitcoins that will be going to zero, the crypto cap as a whole isn't going to dip drastically other than representative of those shitcoins losing all of their volume.

>>10560058
btc dominance is a fake metric, because the only data for it is the fake marketcap of all of the premined and "locked up" shitcoins from ICOs and premines. volume is what you should be looking at, anybody can create an ICO and suck up a few million in cap away from bitcoin, and we've had a few hundred of those pop up.

the important distinction is the vast majority of the altcoin market is a zero sum game, while the market for coins like btc/eth and < 3-5 others is not.

>>10560030
yep. everyone still talking about
>EOY bullrun

>>10560058
that doesnt mean anything you stupid fag

>>10560115
It means everything, most alts are already at the sat bottom and bouncing

>>10559823

>>10560129
>bottom
most alts will never recover from this bear market

>>10560144
>>EOY bullrun

>>10559928
I agree. Holy fuck OP don't do something if you're not good at it

>>10560085
>altcoins are zero sum
>but btc is not
wut

>>10559823
You absolute retards have been announcing the "disbelief" stage for months now. You are wrong this time too. Get fucked.

bitcoin has so many centralised die hard hodlers that market cycles dont work on it.
there is no situation where the majority of them get depressed unless bitcoin goes back to 3 digits

>>10559858
Based

What stage is LEH at?

2019 bullrun at this rate

>>10560479
alts are competing for the same small pool of money from amateur speculators/gamblers hoping to get rich. bitcoin/ethereum (to an extent) are attracting money that would otherwise go nowhere near other cryptocurrencies.

thats why alts are in a constant cycle of coins dying and new ones being created, as speulators keep moving from coin to coin depending on how profitable they think it'll be to trade. there is a long tail of bagholders that end up holding onto these alts for years as the volume evaporates, but the main pool of money is just moving from alt to alt.

>>10560509
...until there are no more greater fools to pass the bags onto, and your yearly returns don't exceed sp500 boomer investments. This WILL happen it will be within 10 years. Then crypto will be seen for the useless slow motion bubble that it is. All people talk about is the price, never the usefulness so once that has disappeared as an interesting metric, it will be a slow bleed like gold 2012 to now.

I remember everybody saying 'buy gold' on pol in 2012. I told them all we were at the top of the market but they ignored the voice of reason, gave into hype driven bullshit and now have the heaviest bags going.

This is Bitcoin's fate. Alts will come and go but will simply mirror the gamble of penny stocks.

>lower highs
>lower lows

b-b-bullrun any minute bois

>>10560558
that's only the case if bitcoin remains a niche speculative investment and not a network for valie transfer, or the underlying backing value for some layered network for value transfer.

Like how deluded can you be to think that a bullring will come. What exactly makes you think like that. What major updates will come for bitoin to rise up to 60k ? Nothing . Just your sunk-cost-fallacy

>>10560632
>updates
don't confuse yourself thinking tech is a driving factor behind cryptocurrency valuations, that's a pure finance/social phenomenon

> bakkt
> btc etf
> muh bear market until next halvening

>>10560540
Interesting perspective on alts, but pre 2017 alts were pretty much BTC clones/forks. There are numerous ICO projects which are trying to build something innovative whether under Ethereum or in its own chain. If the 2017 ICOs die out then id have to agree with you, but that still remains to be seen although the market seems to be on its way there.

>>10560750
and how many coins pre 2017 have survived/broken out since then? the same will go for ICOs, only much harsher, because not only are they competing for liquidity and users, but when they inevitably don't get them there's a centralized team to disband to put the nail in the coffin. for pre-ICO altcoins like litecoin, there's always the possibility that it might work out in the end (even though it won't), but that's not the case when the small team doing the work decides to call it quits.

but the difference between a "decentralized" coin vs an ICO is irrelevant anyway, they both follow the same ethos, to obsolete some other coin or fill a certain niche better than before. their survival is still entirely dependant on them getting that critical mass of non speculative users before somthing better than them comes out.

it's only going to get harder and harder to break out of that cycle, and alts will continue fallnig faster and faster, as they have been. i dont think it'll be long before most speculators give up (as the vast majority will keep losing money again and again on these projects) at a rate higher than new ones can be brought in causing an extended winter.

>>10560632

lightning network wich will result in low fees and near instantaneous offchain transactions for bitcoin.
its already a store of value. next is that its a good payment method for fucking coffee and burgers. last is regulation, which is also being worked upon.

BTC ETF is basicly garuanteed somewhere between now and 2019 in the USA. Most likely a BTC ETF will be available in the EU even faster.
BAKKT payment processing/investment into BTC with Starbucks and Microsoft partnership.
Samsung starts accepting BTC.

bascily, BTC is going to kill all alts and all fiats and if you dont hold at least one BTC you're basicly retarded.

op is right
the value of cryptocurrencies is so fucking obvious lmao, they are money free from dirty government intervention.

If you aren't hodling/accumulating you fucked up.

I've been here a long time, rarely post but I have made a fortune off of crypotocurrency and I have no plans of stopping now.

Remember, the fundamentals are strong. Fiat is going to implode and we are all going to be VERY rich when the world is forced to adopt cryptocurrencies.

its fucking obvious unless you are a pleb redditard normie idiot who doesn't see what is happening in the revolutionarycryptospace

>>10560521
capitulation, wait for the golden bulrun of LEH in 2042

>>10559861
Eth won't happen dude, at least not for now, Bitcoin is too obviously manipulated and unless we get some resemblance of a "real market" we won't get an etf. I don't see it as bad news tho, Bitcoin have been doing fine without this "serious" stuff for years, and more traditional exposure means more restrictions in the end. We need to get rid of LN, that's a must. When that happens (please cap this) we will start again.

No more lightning network, no more manufactured limitations, that's all we need.

>>10559943
>cash out
topkek

>>10560994
>this post

>>10560912
>its already a store of value.
What's up with this retarded meme? Just look at the chart to see that it isn't.

>>10560897
A pathetically small number. I know for a fact that a vast majority of the 2017/18 projects will die, but they have better chances to survive than pre 2017 coins, since they are a lot better funded, have real partnerships and advisors, have professional teams and are not just "pet projects". Pic related are some "high cap" coins from 3 years ago. I dont have to check, but im sure most of these are just a variation of BTC with a single developer and no real world partnerships.

>>10561101
yeah if those all came out in 2017 most wouldn't have broke into top 100 let alone top 30

>>10560912
lol, delusionals like you are so profitable.

PLEASE proselytize as many of your friends as possible with your views.

>>10560940
Wild, fantastical speculation. You people are worse than goldbugs.

I've been hearing about the DEATH OF FIAT for decades.

>>10559823
Bitcoins becomes more valuable when information becomes more valuable

this thread is proof we're in the denial phase

>>10561561
no one is in denial, its realism

>>10561586
lol

bitcoin is a deflationary asset, therefore the price can only go up when the limited supply

>>10560540
>institutions will buy bitcoins
nice meme

>>10560521
Fug

>>10559823
We are at depression.

>>10559858
>>10559928
>>10559966
>>10559993
Land of the saltcoin Niggershill
>>10560028
>>10560200
>>10560558
>>10561048
>>10561561
>>10562024

Making wallets more accessible to traders on the SE
>makes sense
Flags point to rebound
>makes sense
Proliferation of Crypto traders in last 2 years could have caused bull/bear market trends to start being predictable enough
>makes sense
Robinhood already lets you trade cryptos and other trading platforms will follow suit
>makes sense
Starbucks Adoption as well as other mainstream companies allowing it as a payment option
>makes sense
The market perception of Crypto has shifted to a similar position of gold/silver, being that it works as Market Collapse Insurance
>makes sense
The tech bubble bursting in the next four months could increase the value of such “insurance currencies”
>makes sense
But you know “ur stoopid boomercoins can’t cum back, eet too hart to eemplamint

say it with me biz. this is disbelief. the replies in this thread support it. too much bobo salt, every pull back will be a bear trap. golden bull is approaching.

>>10562084
what does any of this have to do with bitcoins

>>10560144
i agree it's the most likely scenario but that doesn't mean it can't go to $5k before that. so accumulate carefully!

its over.

>>10562118
>you
>the point
Pick one, the other flies into the sun.

>>10562189
you didnt make a point

Got onto crypto March 2017

Reached peak portfolio of $1.7m in Jan. Held like a pleb until today... just sold it all for $500k... I won't let the market makers take everything from me.

>>10560144
Nice so it’ll go to $100k then that $100 then back to $8200 you really thought that one through huh

>>10559823
>oh look he said the thing that confirms it

>>10562811
yes, and?

>>10562269
L E T M E S P E L L I T O U T T H EN
>market conditions all point to bitcoin rise
>market conditions all point to bitcoin rise
>market conditions all point to bitcoin rise
>market conditions all point to bitcoin rise
>market conditions all point to bitcoin rise
Bitcoin is the most mainstream of all of the coins touched by normie investors. When market conditions suggest normie investors might have more reason to buy into Bitcoin, THE PRICE GOES UP BECAUSE PEOPLE BUY IT and subsequently there are fewer on the market.

>>10560030
https://deadcoins.com/

>>10562811
LMAO imagine the bagholders when it's at 100$, down 99,9%

>>10559823
Nigga are you blind??? we never got out of complacency.

>>10559823

I mean I'm not a conspiracy person, but think about it. Nothing but bullish news, ETF most likely going to be approved, and yet we are nearing 8 red days in a row.

8 red days. Even during the last bear market, it was never THAT bad.

What's the only conclusion? That this is the final shake out, and this is completely planned. The whales sold 8200 and are not buying back in, and when they don't support the price, it bleeds.

I truly believe this is the last bearish cycle before we shoot back up again and break 12k. I don't know where the bleeding will stop, but undeniably, there will be a day where we bottom up and start going up again. Same thing happened to MJ stocks, same thing will happen here.

Think about it. If the ETF was going to be rejected, the news would be positive, they'd be pumping this as high as it could go before selling the top, then waiting a couple of years for this to recover from the inevitable crash.

>>10559823
full retracement =/= rally

>>10559823
Looks like the Bart between hope and optimism for me

>>10559928
you're retarded, TA is all that matters in bitcoin

seems like everyone thinks it's going to rally right now

that means if we were contrarians we should short

>>10560200
>hurr durr don't ever try anything and if you suck at something just make sure you keep sucking at it

>>10561586
>denies he’s in denial

Mtgox people get their coins back this week. Thousands of people get their hundreds or thousands of bitcoins back that they paid <$100 for, guess what’s going to happen? Market sell after market sell.

This dump is not over.

>>10559839
just drop from university meme and hold until BTC is worth $1,000,000 then go retire in PR

>>10563404
4chan is not contrarian

>>10563735
it used to be before gamergate

now having the opinion of your typical boomer is considered edgy

>>10563453
nah. Mt Gox guy has no intention of crashing what made him rich, it wouldn't make any sense. I'd be more worried if I held BCH b/c BCH doesn't have the liquidity to absorb sell volumes like he could bring.

>>10563438
You got the joke, well done.

>>10564074
>Mt Gox guy has no intention of crashing what made him rich


nah cause theyre all butthurt and scared from thinking they might have lost everything

>>10562832
you dont have a single argument to back it up

>>10560521
JUST

>>10559823

>>10563467
I was joking I made 7 figures from these coins and I'm a "bitcoin maximalist"
I agree with you uni is a meme and I did have loans to pay off after I dropped out but it's all good now
regarding loans check out my other thread >>10563520

>>10564074
Boy, thats going to trigger Roger and all his shill bots that are on here lately.

>>10564360
what if Mt.Gox guy dumps all his bch for btc? what if roger got raped in prison? what if there is no thing as bitcoin core, just bitcoin? what if hillary got elected, and she banned crypto? what if the jews lost world war 2? what if roger is a jew, and he wouldn't exist if america partnered with the germans.

>>10559823
>Can you feel it, can you feel the golden bull approaching?
Yeah, no, i can feel that you are obviously still in complacency

>>10564544
https://www.liveleak.com/view?t=sM90k_1528477850

>>10559823
Bear market is over and we're transitioning into bull market now. Monthly low will be around 6500 in late Aug, then up to around 9200 in late Sept.

Since those will be the first higher low and higher high in a long time, market sentiment will rise and we'll start seeing a major uptrend leading to a bull run.

My advice: Buy in the last week of August.

>>10564731
>what about coinbase buy limits yo
been maxing that shit for about a month and only made it to 5 coins

>>10564731
This guy get's it. I actually expect the rises to be much more quick than last time due to the increased number of people aware of crypto.

>>10559823
Seems like Euphoria to me.

>>10559823
It should say 'simplified' not 'simplifyed'. It tells you something about the caliber of people behind those charts.

>>10564820
>I actually expect the rises to be much more quick than last time

I hope you're right about that. It'd be very nice to end 2018 with a new ATH, particularly because it would instill some confidence in everyone who entered the market for the first time last fall.

>>10564731
>Buy in the last week of August.

Actually, any dip under 7k now a good buy and any dip under 6800 is a great buy. If you wait to catch THE bottom, you can easily end up missing it and then find yourself chasing a big green candle.

>>10559858

>>10561101
i dont see them as having a better chance, partnerships mean nothing, and are mostly just fake or meaningless when it comes to attracting actual users. all thats happened is crypto has become mainstream and everybody is trying to create their own crypto project and funding it, instead of just crypto enthusiasts like before.

the same issue remains though, now the churn of alts is even higher, and there's even less chance for any of these projects to reach critical mass before something better comes along and steals it's thunder.

>>10562024
they already have been for a few years now. whether they will or not in the future is up for debate, but it's not debatable that institutions will never show any interest in 99.9% of all the random altcoins being created every day.

if you can't see the clear divide between bitcoin, possibly ethereum, and the rest of the market, then you've been sitting in shitcoins for so long you can't smell them anymore.

>>10563363
TA has never mattered unless you're only interested in short term daytrading, which you shouldn't waste your time with.

>>10564838
It also says through instead of trough. Anyway too late it's a meme so you can't stop people posting it and giving traffic to that shitty website.

>>10564731
Your optimism just doomed us to another 5 months of this hell. You need to get depressed son.

>>10565379
depression is bad for the health. that is why perma bulls live longer than perma bears.

>>10563453
Source for them getting them back THIS WEEK

http://charts.woobull.com/bitcoin-nvt-signal/

Look at the price action when NVT signal hits about 150

It nearly always crashes, and it did when we hit 8000

Based on transaction volume, 9k is the ceiling right now until now people use Bitcoin

>>10566535
>http://charts.woobull.com/bitcoin-nvt-signal/
that's not very accurate b/c in the past it has hit high as 300-328

>>10563453
I'm not going to look up a source but they are getting paid back in the yen value at the time not in quantity of bitcoin because of how the legal system values assets in Japan.
This was settled quite a bit ago kys my man.

>>10566791
In 2011, when Bitcoin was like $10

In recent history, it's been moderately accurate. I think now it can still go either way from 7k, but it won't reach 15k without a huge uptick in interest. If it goes up, sell before 9k.

It's more overvalued now than when it was 11K earlier this year

>>10567080
The bounces from 6k the past 8 months is obvious whale accumulation. I think that indicator you are referencing is going to be obsolete come this bull rally due to the magnitude of money that'll enter the market. Like you said back when BTC 10 bucks the following large influx of capital threw off that indicator.

>>10567621
It won't be obsolete, as more money flows through Bitcoin, it lowers the indicator

The fact that it's high right now is because nobody actually uses Bitcoin as much

>>10559823
>normies on plebbit are calling this a suckers rally
But it is

>>10565309
why would institutions show interest in bitcorn at this time or in the future and not alts of their own making/adopting?
you say alts are pieces of shit but i guess you havent seen btc dominance for the past year and a half

>>10567080
Yeah, people love to argue that since this bubble/crash/bubble/crash cycle has been the norm so far, it's "proof" that bitcoin will moon again, and bigger the next time.

Oh yeah, totally bro. What a long, rich 8 year history we have to draw on...

Sure, when the fucking thing is $1, it only takes a few thousand nerds for it to go to $10. Scale it up for $10 to $100, and then again for $100 to $1000, OK.

But this last round WAS different. The sheer number of new people and normies that had to get involved for this to go from $1000 to $20,000 was huge, and it happened because of nonstop hype and frenzied mania. This shit was a massive social phenomenon in 2017.

Lightning is not going to strike this twice. This isn't just going to keep crashing and bubbling forever, scaling up each time, because you can only scale it so much, and the last round was the max. You can only get so much dumb money into this, into something that literally does nothing.

The end of 2017 bull run WAS the Golden Bull Run. From now on, it's just going to dick around up and down somewhere between $1,000 and $9,000.

It's never, ever going to moon again until and unless something fundamentally changes, until it actually DOES SOMETHING. It can't just ride on pure hype and speculation anymore.

>>10567805
You're forgetting that somewhat intelligent people actually bought Bitcoin in 2017. We're talking iq 105 at least. Let's see what happens once sub 105 starts buying, like lotto ticket buyers.

>>10559823
We are literally at the beginning of depression, weve got a ways to go yet

Mr bones ride never ends

>>10559823
>Normies
Just the same shit as here, people posting the opposite of how they feel cause they think the price will go up that way.

>>10567805
the history just started last year.

Where is PoS/PoL? (Proof of Short/Proof of Long)
Reminder to not trust any TA fag that does not show his LEVERAGED positions that concur with his analysis.
If he doesn't trust his money with his TA it's because it's not worth a shit.
>"but I don't like gambling"
So TA is not that solid if it's a gamble for you then?
Anyone can hold, not everyone can net profits on leverage and avoid liquidation until cashing out, it takes real skills and balls, because you can not afford to be wrong or you'll lose all your money, unlike when you're not on leverage.

>>10560897
so you're saying buy 0xBTC?

>>10559823
>>10569557

>>10559823
price action now certainly seems like disbelief stage to meeeee... but that's just muh opinion.