BITCOIN

Scottex99

thegentleway said:

Scottex99 said:

It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

Haha change in sentiment because its already fallen off a cliff 40% earlier in the day?
This thread keeps on getting more bizarre, now people are saying they can easily read the charts and predict what BTC will do but also don't trade or even understand what all the coins/tokens even do. Its super weird.

It won't go to $20k, I hope it does though because I'll give money to charity and ape into the dip. Then I'll give more at $100k, coolios.

Going to a crypto conference in Miami in 2 weeks, will see if I can find an actual real crypto company anywhere and maybe take a photo of them just for you guys

Nobody can predict where bitcoin is going, there are no fundamentals. Your $100k predictions are just as silly as $20k ones. It's anybody guess.
Enjoy Miami, I'm very jealous!

Nobody can predict it short term. Sure people can trade the RSI, Fib blah blah whatever and of course sometimes it bounces straight off previous support/resistance lines and people make good plays but it's very hard to time the market, I don't even try. If I get a 5-10x out of a coin I'll take profit back to BTC/ETH or maybe buy another Alt/Shitcoin but I'm not trading all my bags trying to time the bounce at 30k.

Funnily enough i'd say the reason i'm predicting $100k is EXACTLY because of fundamentals, discussed here many times

thegentleway

Scottex99 said:

thegentleway said:

Scottex99 said:

It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

Haha change in sentiment because its already fallen off a cliff 40% earlier in the day?
This thread keeps on getting more bizarre, now people are saying they can easily read the charts and predict what BTC will do but also don't trade or even understand what all the coins/tokens even do. Its super weird.

It won't go to $20k, I hope it does though because I'll give money to charity and ape into the dip. Then I'll give more at $100k, coolios.

Going to a crypto conference in Miami in 2 weeks, will see if I can find an actual real crypto company anywhere and maybe take a photo of them just for you guys

Nobody can predict where bitcoin is going, there are no fundamentals. Your $100k predictions are just as silly as $20k ones. It's anybody guess.
Enjoy Miami, I'm very jealous!

Funnily enough i'd say the reason i'm predicting $100k is EXACTLY because of fundamentals, discussed here many times

What fundamentals? There’s no cash flow, balance sheet, liabilities, etc...

Scottex99

Please no, not again, it's not a company.

I'll be on here at $20k or $100k anyway so feel free to take the peepee if its the lower end 

thegentleway

So based on your “fundamentals” what’s the current price/value of Bitcoin? 

underground99

thegentleway said:

So based on your “fundamentals” what’s the current price/value of Bitcoin? 

The price of bitcoin is something that changes every second. The market's opinion of the value of bitcoin is determined by the weighted average of the opinions of market participants who want to get in or out of it at a point in time.

'Fundamentally', one could imagine that a coin with a market price of $41k could change hands for $100k or $50k or $20k in the future, for the same reasons as a few years ago when it was $300 people remembered seeing it at $1000 or $100 and imagined it could go to either of those sort of prices or beyond.

tichtich

Scottex99 said:

Going to a crypto conference in Miami in 2 weeks, will see if I can find an actual real crypto company anywhere and maybe take a photo of them just for you guys

You do know that the USA is on the COVID amber list, don't you? 

Scottex99

thegentleway said:

So based on your “fundamentals” what’s the current price/value of Bitcoin? 

It's 40,909 right this second.

It's going over 100k, ETH is going over 10k too btw

thegentleway

underground99 said:

thegentleway said:

So based on your “fundamentals” what’s the current price/value of Bitcoin? 

The price of bitcoin is something that changes every second. The market's opinion of the value of bitcoin is determined by the weighted average of the opinions of market participants who want to get in or out of it at a point in time.

'Fundamentally', one could imagine that a coin with a market price of $41k could change hands for $100k or $50k or $20k in the future, for the same reasons as a few years ago when it was $300 people remembered seeing it at $1000 or $100 and imagined it could go to either of those sort of prices or beyond.

So people’s predictions are their opinion of other people’s future opinion...

thegentleway

Scottex99 said:

thegentleway said:

So based on your “fundamentals” what’s the current price/value of Bitcoin? 

It's 40,909 right this second.

It's going over 100k, ETH is going over 10k too btw

Yeah that’s what my crystal ball said as well but the tea leaves agreed with fingerbush’s shampoo chart so not sure which to believe now.

Malthusian

Atlas234 said:

If it was a closed system then that would be true, but there is new money and new people entering the market all the time. I can sell my bitcoin at 10x profit to a new investor who thinks they'll get 10x a more a few years down the line and no one has lost anything

And how does that new investor cash out at a profit, and where does the money come from?

It is a closed system, and it is true. Punters' money in == punters' money out.