/biz/ - Business & Finance

>>17879135
Bitcoiners are the new boomers

>>17879135
Yes. I sold all my btc, took the 50% loss on initial and cashed out.

Bitcoin isn't an alternative to the dow jones, it's an alternative to central bank issued fiat currency

>>17879258
Then explain why its following the DOW like a lapdog?

>>17879135
I didnt see btc going down 12% yesterday.

>>17879459
yeah?

>>17879459
There it goes again, crashes for a moment and recovers. Just like the DOW

>>17879135
>>17879354
except its not?

>>17879135
Chinks own the space, and everything the Chinks touch turns to shit. Figure it out.

>>17879617
It goes up and down and sometimes sideways. just like the DOW!!!

Of course it follows the markets.
Bitcoin is now owned by the Wall Street.
Not that it was ever anything different than a get rich quick scheme that was pumping up on hype, so I wouldn't say that it has become a parody of anything.
It was always a game of hot potato for 99.9% of people. The idea of it being some kind of a hedge against the economy is a joke.
Propaganda parroted by people in hopes to pump it up even further. Some idiots actually believed that.

>>17879354
because Bitcoin isn't an alternative to the dow jones, it's an alternative to central bank issued fiat currency

>>17879682
No I mean it's literally following its exact movement.

>>17879702
The DOW runs on fiat currency, yet BTC follows its movement like its bitch. Seems BTC is beholden to fiat and not decoupled

>>17879704
no, it's not!
it barely moved today

>>17879743
If the DOW goes back below 20k BTC will be below 5100, guaranteed. Screencap it.

Yesterday it didn't dump when DOW dumped 10% , but it will follow the smallest DOW upward spike.

>>17879135
>measuring asset value in USD
>hmm why does it follow the USD?

>>17879830
it did dump earlier

>>17879648
Except it is, you dumbass. It usually stops overnight when boomer exchanges are closed.

Tsssss bitcoin tssssss issss dead ssssssss

Daily reminder that tether just printed $500,000,000 to keep bitcoin afloat.

This really isn't hard. Have both charts up, each small move of the DOW up or down is followed by BTC instantly. You can watch the DOW chart and before you look at the BTC one already know what its doing.

>>17879966
Yeah. But it's not doing it all the time, which is strange.

>>17879882
Except btc traders sleep as well you know

>>17879923
>us gov prints to keep dow alive
>tether prints to keep bitcoin alive
Yeah I'm thinking it's over.

>>17879966
This has been the case since this entire crash, the anon you are speaking with is just a sheep who must not have been told on /biz/ to compare the charts.

What I've come to notice is that BTC seems to react more to the futures market and dumps in anticipation of market dump. It then stays at that level while the market does its flop. Today what we've seen is the most correlated thus far, you can literally see that as the DJIA +/- the 20k mark, BTC is fluttering itself.

>>17880054
>What I've come to notice is that BTC seems to react more to the futures market
you must be a genius! It's almost like theres a bitcoin futures or something?

>>17879966
I've been literally doing that for days now...

>>17880054
Well, at least we have now confirmed that Wall Street boomers are in crypto as well.

>>17879966
Sometimes , if DOW crashes 2000 points right now the fraudulent bitcoin exchanges will turn on their HFT bots and start pumping it, i guarantee.

>>17879135
bitcoin = bitmex casino chip

>>17879135
I can give you an explanation but requires >133iq to comprehend.
>prior to mar 10 lots of institutional investors
>institutional investors fled
>retail investors remain
>retail investors invest like normie retail investors
get it now negritto?

>DOW crabbing
>BTC crabbing
Sad!

>>17879135
test

>>17880276
That doesn't explain why it follows its movement instantly. It is now the DOWs bitch.

>>17879135

>>17880276
Assuming average joe and some basement dweller neets have any impact on bitcoin price, there is almost no real demand for bitcoin. bitcoin price is mainly driven by exchanges like bitfinex and bitmex, without their action Bitcoin never surpassed 1K and would have go sideways below 100 dollar.

>DOW up
>BTC up

>>17879999
>2020
>sleeps

>>17880439
In a fiat hyperinflation event what do you think would happen to the value of Bitcoin?

>>17880026
1.5 trillion vs 500 billion? Is it really over yet? One looks three times better.

>>17880559
there's no hyperinflation
now go back to sleep

>>17880623
Oh wait, OOPS, 500 million. So that's actually like, one looks 3,000x better. Oh wow.

>>17880559
Could go up for sure , when Bitcoin drops below 1000 or 100 dollar many exchanges will go out of business for sure. As long certain exchanges can print their own dollars without any audits ( bitfinex ) bitcoin will see high values and eventually go up

>>17879135
Smaller markets tend to be influenced by larger markets. It's like how BTC influences shitcoin.

>>17879731
>Seems BTC is beholden to fiat

BTC is beholden to fiat in terms of its valuation in fiat, yeah. You need a paradigm shift so you can see past the USD value of everything

>>17880815
>new paradigm!

>>17879135
it's even funnier when you look at the order book on binance
that bid side is so thin and yet it just keep going up, just mindlessly following the dow

>>17880765
Bitcoin was never correlated with stock market until last week

>>17880880
Nah, money is hardly a new idea. I'm just saying you need to look at the world differently to get it, instead of worshiping the valuation of everything in US dollars.

>so if hyperinflation comes bitcoin will be worth A LOT OF DOLLARS??? I CAN'T WAIT TO HAVE MORE DOLLARS

You're missing the point.

DOW up and crabbing, BTC up and crabbing

IT'S
TIME
TO
BUY!

>>17880972
As long as the DOW goes up, sure

>>17881015
>exception become rule because i want

>>17881015
the thing is yesterday the dow pumped after the initial drop and BTC followed then it started to dump but BTC stayed up
I don't know why it's following the dow like that but right now btc is clearly being pumped by whales

>>17881043
Sorry it upsets you your revolutionary bitcorns now act like traditional boomer markets

>>17881085
Because of the boomers with very bitcoin and very fear, just wait, my litlte monkey.

>>17879913
brr

Bitcoin is actually safe today, I expect it to reach 5500-5600 but then drop. Honestly this is pretty fun shortselling now, I've made 100 dollars this week by just listening to the news

Just kidding I lied, I just want you to buy more BTC

What's the delay between movements on DJI and BTC. Is this tradable for a human?

>>17880670
Thanks Anon, I was worried for a second.

>>17879213
>realizing your losses
Why do dumbfucks do this? Unless you’re desperate for cash and about to lose your home, why not just ride this out? The most likely outcome is for bitcoin to eventually rise back up in value. It might take a year. But if you can afford to keep some money in bitcoin, you might as well. Instead of taking a 50% loss like a retard

>>17883479
The window is incredibly small. I've been able to increase my bear position a couple times but its risky

>>17883059
Woah, relax there Warren. Save enough cash for the rest of us.

Every virgin shutin loser on this board invested in BTC probably only adds up to 5% of BTC's market value. The other 95% belongs to rich stock market traders who use their millions of dollars in profits to buy 100+ bitcoin each. You're all cucked with your tiny BTC stack.

>>17879668
This

>>17880054
Is there a way to use bitcoin price movement to predict movement in DOW and viceversa? Would be a good way to make some profitable trades if true

>>17883611
or just hedge. I wouldn't see off all of anything i owned. you never know when the bottom or top is. also taking loses is fine if you're moving to something that you can gain in, but that's just as risky and holding your position

>>17881015
trading btc based on stocks is now too predictable. big shakeout soon

>>17885184
Nah

>>17885184
> implying 90% of traders were not shaken out during the 50% dump
institutions are in control now

>>17883642
You work with what you have

>>17879135
soon we moon

>>17880085
>BTC Futures
and you must be a faggot! It's almost like those are two different things. Don't think too hard brainlet, you might accidentally make money and think you know what you're talking about.

>>17883611
If it takes a year, it would be easier to sell now and buy back when the trend is clearly reversing because the more it drops the more it has to rise to reach your break even point

Bitcoin is more of a safety against inflation than recession, with all the money being handed out right now, it is going to explode soon.

Costs $5k to mine a btc in China, the price won't drop too much below that. Unless the hashrate drops.

>>17887761
It dropped below that during 2018-2019.

It is a meme until it's not duh.

>>17879135
just a cuck shakeout. You're about to witness the biggest moonshot of your life in a week or 2

>>17886379
Institutions were the ones that dumped, institution traders have protocols to lower risk during uncertainty, and crypto is the riskiest asset you can have right now.

Just wait until the coronavirus gets under control and the markets get back on track, institutions will buy back in and it will pump immensely. Fingers crossed this happens near the halvening, it's genuinely the perfect bull storm at this point.

>>17879135
Bitcoin is a tech stock disguised a currency.

>>17879135
>Its literally following the DOWs movement candle for candle.

Because on single wall street trust (grayscale) owns 300k btc from investors and even 401k.

That's right one single trust has more btc than what will be mined per year after halving.

>>17890093
based