/biz/ - Business & Finance

>people thinking this is the first sell off

kek, absolute state of /biz/pajeets

>>7280768
Despair isn't even an option

>>7280768
Capitulation. despair comes within a week.

>>7280768
Stealth phase obviously. If you think normies are ever going to figure out how wallets and shit work you're crazy, the whole process of buying and selling crypto is going to have to be streamlined before we ever come close to reaching the first sell off.

>>7280870
This, we're not even at the take off phase yet.

>>7280895
Press D for despair

>>7280768
the funny thing about this meme graph is that is fundamentally correct.

Movements wont be 100% mathing this.
But its right about the "new paradigm" and reaching public.
I knew in december that we have reached this point, people were talking about 1million$ BTC by 2019.
A lot of normies I know started putting money in BTC through coinbase. I heard the same thing from my best friends and their family/friends.

People who do not know what a market cap is putting $2000 dollar into ripple (via credit card) because it will catch up to bitcoin soon. THAT is the "PUBLIC", "New Paradigm" point.


Im not sure how DESPAIR will look like. But I know we havent reached it yet.

>>7280903
This is an extremely valid point

the problem is when the hearing at 6th Feb going to be positive this whole thing could out turn bullish too, so i think it depends on the upcoming news
if negative news > despair at 5k i think

We’ve hit the first sell off. Once you start seeing crypto TV ads and logos in McDonald’s then you can worry.

>>7281076
> hearing at 6th Feb

what is?

>>7281020
Yeah if you’re 15 years old

any academic papers/books on this meme chart?

>>7280768
unironically, I'd say we're in despair region.

We're over corrected in this market now, but that's to be expected. Just like how the highs went WAY TOO HIGH, the lows will go WAY TOO LOW. It's not going to correct to a rational number.

I think 13-14k is where BTC should be valued now if it didn't have its extreme overbuying period and this extreme correction period now. All this based off my gut btw.

WAIT A MINUTE... THAT CHART!

short term between capitulation and despair, long term bear trap

Why do faggots think that "mass adoption of crypto" necessarily means bitcoin? Bitcoin is barely usable. This is just plain delusion.

people still think we are in the first sell off
holy shit you guys are deluded
can't you see the whole market is manipulated? one single persone pumped bitcoin from 1k to 4k (picasso), bitfenix pumped btc to 20k, the pump from 7,6k to 9k was a fucking desperate move from whales to save this ponzi
do you guys even know that 1% of the wallets hold 90% of all bitcoin in circulation?
this is a textbook ponzi and if you think there can be a currency with limited supply then you're fucking stupid

>>7281269
Katy perry is an early adopter

>>7280903
Why do you think more people = higher value?
this a speculative market.

>>7280768

The traders cheat sheet normies and dreamers hate it.

Fear, soon capitulation. Anything else is pure delusion or wishful thinking

>>7280768
bear trap

>>7281243
Because uneducated people use bitcoin and crypto interchangeably. You never know what they are talking about.

>>7280895
D, obviously
braindead faggot couldn't even compute a market cycle

>>7280903
big if true

>>7281194
yeah sure 13 k for one useless bitcoin. get fucked u deluded faggot

>>7280981
yep, when your retarded family members tell you they want to buy a bitcoin for 20k you know its over. Time for the boomer down the road to get rekt

>>7281298
more people = higher volume = higher value

first day in trading?

Guys, listen. The biggest platform in all of cryptos has just 5 million users registered. Registered, not active.

That's fucking nothing. That's like a mildly popular video game. If we draw an analogy to internet communication we're in the fucking IRC age, whereas normals need a FB equivalent to even get in. The ICO and price explosion was just 3-4 months ago. We're literally just at the very beginning of this ride.

>>7281407
>higher volume = higher value

How are you faggots this delusional? Do you hate your life so much that you can't accept you missed the train on crypto? We've been following the meme graph 100% to this point. Early January we obviously reached the 'new paradigm' peak. Then we crashed, and people were scared, but we went back to normal. Obvious bull trap. And then another gigantic crash arrived a few days ago. Which means we're pretty much in freefall right now. Nobody knows where the bottom is, but you're deluding yourselves if you think we'll have a smooth right up from here on out. We'll be going one step forward and 5 steps back for a few weeks or months. Until we've reached despair. And then we can talk again about making profit.

>>7281434
k

>>7281467
nice

>>7281307
BTC ever getting close to 5k used to be delusion and wishful thinking. You're talking like a boomer.

>>7281434
Do you not see this happening every January? Do you really think people don't see the price as cheap now?

The big variable is stocks are down now too, and when that happens assets that are deemed risky are usually culled. But that's just January. I dont know what the bottom is but I don't see this as a long bear market. Could be wrong, but I think we're going to be due for strong consolidation in a week or 2.

>>7281407
you realise these are not shares, right?
it's a currency, a currency that isn't backed by anything to boot.
the value is 100% speculative.

>>7281467
The missing part of your equation is that bitcoin is crap. In 2013, it was not yet one.

>>7281467
this time it is different.

there are no New people Who want to buy into a useless ponzi.
crypto went mainstream. dumb money bought in.

>>7281519
people were wishing for a 5K BTC back when we first hit 10k.. They'd be retarded to not go in it substantially at that level. I dont think it'll go that low again though. /biz/ is always hopeful with its numbers. It's safe to assume if /biz says the correcton will hit 5k, then 7k is more likely the bottom.

>>7281403
so how does DESPAIR look like?
Reading about the Mt Gox crash I see a lot of "Bitcoin as a thing is over", but I have not been active in the community back then.

Not sure how it will look like. But what we have now ain't it. That much im sure about.

>>7281607
6th february will tell

>>7281526
The big variable is that we never had the masses of normies in crypto we have now. Just ask yourself this: if everyone is in on your 'investment opportunity' - how many people do you think will get rich off of it? The answer is none. And I'm not saying crypto is dying, don't get me wrong. I'm just saying that we NEED the despair phase right now. So we can start the meme graph from the beginning in a few months. Normies will flood in again once they see prices rising. But right now we're going down a lot lower. It has been historically proven that BTC crashes and then goes up to previous levels and then some. We're in that crash right now. After the crash we'll go back up, but right now we need crypto to take a gigantic nosedive.

>>7281568
Nice, glad that it will move in one pattern for rest of ages, just bought 100k.

>>7281536
"Normie" price theories. Perfect explanation for the neet whos brain has been completely addled by 4chan.

The mainstream cryptobuyers came in at the end, they're not the ones buying now or then. Crypto is unfortunately a playground for whales and longterm hodlers. Money that's left the market now is likely standing on the sidelines, not "normies" who feel burnt by crypto.

This correction period will leave a scar, but it'll quickly be forgotten. Emotions change in the blink of an eye here.

>>7281653
>>7281076

what's happening on 6th february?

We move into capitulation today. $7k

I still can't believe that there exist crypto oldfags who couldn't figure that the november-december bull run was unprecedented and didn't sell on top. It's lamentable watching them throwing one excuse after another.

>>7281656
Maybe you need it, because you're in fiat and waiting for this. You can only assume that others like you are thinking and feeling the same way. they want this to go as low as possible.. Things are bad yeah but price memory is one hell of a thing now.

>>7281269
kek your boomer is showing there buddy

>>7280768

capitulation

>>7281668
https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/

could be positive or negative no one knows

>>7281735
There's no way this is capitulation. We're hardly even in "fear" yet. Look, people are still damn happy and optimistic that things will keep going up. January dip, lads, mass adoption ahead, just be happy! It needs to plummet to 4k for any real panic to start.

>>7281865
are you kidding me fear kicked in when went from 11k to 9,5k..
we are in capitulation you faggot, when we hit 5k or 6k im not sure this will be despair

>>7280904
The unironical truth.

We need an exit scam or the Tethering to intitate the Great Crash.

Lol, the least percentage is bull trap
Talk about the majority opininon predictive power

>>7281925
Elaborate brainlet

>>7281528

I don't understand this argument. What exactly do you think your dollars are backed by? I'll tell you, they're backed by absolutely fucking nothing. That's right, not a fucking thing - the government can print away all your hard earned dollars in a day or a year or a decade if they want/need to.

>>7281915
Okay, I'll take it that we're in fear now. But this is not true capitulation yet (maybe among normies and redditors, but not here on /biz/). Look around how everyone believes that we'll hit 12k in a couple of days and keep going up from there on. Even OP's damn poll reflects this delusion.

Remember guys: just SODL it

>>7282185
do you even know what capitulation means?
btc will hit below 8k people will "realise" oh fuck this time its really over, than when we hit 6k people going to be mad and suicidal , despair kicks in
BUT alot of people who just watch the crypto market and look for a good entry point will think thats the perfect moment, so we will hit 8k again and in 2 or 3 months nobody will even remember that we were at 6k and the cycle repeats

Guys, the only way we can make some dough in this shitty market is with teamwork.
Join this rapidly joining pump & dump group and get rich quick bois

https://discord dot gg/mFWsZq2

>>7280903
Most people never buy stocks, mass adoption doesnt mean everyone using crypto, just all investors and that is long gone. I see people reading crypto blogs on the train and in cafés.

>Bought at ATH like a dipshit
>Bought in the bulltrap
>now hoping the meme chart is real so I can buy in the despair
Drop you fucker, drop!

>>7281865
we are in denial

>>7280870
This. We are way early in the game, crypto is still seen as a meme

Fear-stage

Only going down from here.

>>7280768
>not listing a correct answer

>>7281078
VIBE has an ad showing its logo during the super bowl

>>7281208
The meme chart was true, good luck to anyone who fell for the just hold meme and didnt sell weeks ago kek

>>7280904
>>7280903
>>7281078
>>7281312
>>7281925
Judging by these posts, we are might be in the DENIAL phase still.

>>7281422
Where did you get the 5 mil figure? It's a good point if true

>>7282624
you dont know what they think you idiot
in their minds they are panicking and are about to capitulate and 4chan isnt the whole crypto community...
some guys here would be denial even when we would be under 100$

>>7282505
again I think this one. If you chart steady bitcoin growth and take away dec/jan's insane price action, it'd be a smooth incline to 14k.. I think BTC should be around 13k and we're in despair for now.

>>7280768
We are nowhere on this chart because the market isn't going to conform to your made-up patterns.

We're probably like 3/4 done the capitulation phase, with return to the mean being 6-7k and despair being a dip to 5k-ish.

>>7280768
capitulation

>Katy Perry puts crypto logos on her nails
>People honestly think we're not even at media attention yet
For god's sake, guys. Are you really in this much denial?

>
>
>
>

BTC 2000$ ( first selloff ) crypto will be talked to dead again, and then we will see the real liftoff while all nocoiners crying again because the didnt bougth in and then EOY 100.000$

The simple truth is that it would never go down 70% in 10 days if we were anywhere near the top. It went down so fast because there wasn't enough normies in the game. The normies that bought at 20k got burnt to fuck but they will put whatever is left or newly saves money back in once we go beyond 20k.

Why would anyone of the whales let this game die when it's the most effective money vacumemachine ever made and wall Street finally have the ultimate unregulated market to so with as they please.

This is just the beginning. People are so quick to forget. Google 2013 pump and see all the media hype and stories about people looking for hard drives in the Garbage or that dude that bought a house with BTC gains.

Are your friends paying with crypto at every bar they go to ? So people still have "bank notes" in their wallet ? No? Then you better buy some bitcoin.

I really hope someone is screencaping all the past week's because in a few months or so this will be pure comedy. Especially since we will all that believe will drive Lambos.

X10 ROI still after the January butchering. Can wait 5 years for my Lambo If I need. Ain't selling shit. BTC 50K this summer.

>>7283833
>Thinking Katy Perry is Main stream in 2018 LUL

>>7281730
deluded

>>7284730
top 20 IG followers

>>7284674
>It went down so fast because there wasn't enough normies in the game.
In December, crypto exchanges received more new users than during all the previous years combined, most had to close new registrations. "Bitcoin" received a similar number of Google searches as "Trump". You're in denial.

>>7280981
This. And idiots here laughed at me selling at $12k back in December. I'm laughing all the way to the bank while their memes aren't working.

>>7280768

>>7281078
Someone post that pic by katy-krypto claws- perry

>>7284174
100k sure even if crypto would ever become useful, it should be below a dollar.

>>7284674
>Why would anyone of the whales let this game die
Because Bitcoin and Crypto is going nowhere anytime soon and they can make money off of retarded NEETs who believe if they just put $5 into this shitcoin they'll be millionares in just a couple short years of doing absolutely nothing.

>>7284674
"My goal is to be right, not to make money."

Lel, it's over. Bitcoin wont go any higher than 10k for the rest of this year.

>>7285211
>That ST:VOY ad.
lel

>>7285211
>30% dip
Uninspiring