Bitcoin's gone a bit quiet

atush

ColdIron wrote: »

A 30% plunge in a week, approaching 2008/09 GFC proportions, and not a peep. I wonder how many have been badly burned by buying into the recent hype and are now hoping for a 50% rise just to cover losses. I'm not trying to be inflammatory, just an observation about the recent lack of commentary and threads

Just like the silence after gold plunges. Nothing.

ColdIron

cs90 wrote: »

I couldn't be happier. Hodling and buying more!

Bitcoin is still 50% up for the month, 1,705% up for the year.

Blimey, this is a 'Bitcoin forum' according to SkyNews

A typo in a Bitcoin forum regarding the proper way for the faithful to react to volatility has resulted in the community's restatement of the value of "hodling" (holding) out during value drops.

https://news.sky.com/story/investors-worry-as-bitcoin-plummets-in-value-11181191

badger09

ColdIron wrote: »

Blimey, this is a 'Bitcoin forum' according to SkyNews

https://news.sky.com/story/investors-worry-as-bitcoin-plummets-in-value-11181191

Wow, just shows what sort of world we live in when a typo becomes an international news story :eek:

ivormonee

It's down 19% so far today alone and people shrug it off as if it's just part of the normal course! If global stockmarkets fell 19% in a day there'd be widespread global panic of epidemic proportions with non-stop news featuring nothing but news stories puroprting as total armaggedon!

veryintrigued

k6chris wrote: »

Bitcoin has fallen over 70% 3 times in the last 7 years - nothing new. Could easily go down to sub £1,000 before ending 2018 at £50,000. Image from ZeroHedge blog

A logarithm graph??!!

worldtraveller

Anyone with any sense would see that this 'investment' is basically no different from any other.

We've seen the phase where it's been pumped up by the big investors and their media mates, and we've seen the foolish, gullible, retail investors, who have subsequently got into the "get rich quick", latest, "fools gold" at, or near, the peak.

The problem is when the last person holding the baby loses their shirt, along with the other fools who got in at, or near the peak! It's very much like "pass the parcel" and who is left with the last wrapping, but, in this case, it's who is first to lose their !!!!.

Nothing changes! It's just another way that the serious investor can make money out of the gullible, "get rich quick", fools in society!

Would I get involved? Yes, maybe, but, as a contrarian investor, for decades now, it would probably be when the price totally tanks, and most previous investors are left squirming over their losses!

Aretnap

In other news a soft drink manufacturer was able to treble its share price overnight by adding the word "blockchain" to it's name

https://www.cnbc.com/2017/12/21/long-island-iced-tea-micro-cap-adds-blockchain-to-name-and-stock-soars.html

This is of course perfectly normal and not in any way a sign of irrationality in the markers.

Bonnie151

TBC15 wrote: »

You have made at least 247 contributions to the real world. I’m sure sticking you in a room with Warren and Terry for a week will put you back on your feet.

Don’t lose hope, we are here to help you when you need it.

My husband thinks I need a good dose of smelling salts to bring me back to reality.

dividendhero

k6chris wrote: »

Bitcoin has fallen over 70% 3 times in the last 7 years - nothing new. Could easily go down to sub £1,000 before ending 2018 at £50,000. Image from ZeroHedge blog

And a million pounds in 2020, and a billion pounds in 2025 and a trillion pounds in 2030?????

ivormonee

Two hours ago it was down 19% and since then it's gone up 7%. What does this mean? It means nobody has the foggiest idea what bitcoin is worth!