Short it, bros

farquit
farquit

Buying Bitcoin right now

Short it, bros. Look at those orders for fuck's sake. Buy back in ~$328 USD

takes2long
takes2long

fucked up my chance to sell bitcoinz at its highest peak

LET'S BURN THIS FORSAKEN CURRENCY TO THE GROUND

Techpill
Techpill

The problem is that the halving in 5 weeks is making idiots buy in now, thinking there'll be more upswing on that date. The halving is already worked into the current price though, as its a secret to no one.

When the halving comes up, the price will nosedive. Miners now need to sell twice as many coins to turn a profit while half as many come in, and panic selling will become the new life of the coin as all who bought in over 500 usd scream out as the day after the halving sees btc drop by 25% minimum.

Screencap this thread: BTC will be sub-300 by August.

TurtleCat
TurtleCat

The effects of only 12.5 btc per block reward instead of 25 have not materialized yet because the rewards haven't actually gone down. However, the price may very well be lower than what it is now come halving.

''The halving is already priced in'' just doesn't hold true

StonedTime
StonedTime

Since mining is all in China can't the miners just limit the supply of coins to jack the price up ?

King_Martha
King_Martha

Limit the supply how? You mean hold them?

Would only work if the power grid decided to hold onto all the electrical bills too... so, no - they cant mine without electricity. Cant electricity w/o money.

Bidwell
Bidwell

I sold some yesterday almost at peak, bought silver from JM Bullion with the rest.

When should I buy again, if ever? Should I just for more ETH?

Poker_Star
Poker_Star

shit nevermind

Buy back in ~$328 USD

thanks

Techpill
Techpill

''The halving is already priced in'' just doesn't hold true

Everyone knows 'the habbenig' is coming shortly
Everyone knows what this means and thinks the price will do x, y, and z.
Everyone who is gonna buy, buys now, anticipating the event.

It's the exact same as any other stock/commodity. eg Sony stock gets bought when the next Playstation is announced, not on launch day.

Will the halving affect the price? Yes, but at about 1/100th of the amount of the lead-up anticipation buying already did. It may spike for a second the hours before, but it will not spike this high again as everyone who was going to buy has now bought, and the last-minute emotional buyers who hop in will be contemplating suicide the following morning when the price cuts in half, if not more.

It's massively overbought as it is, and just recently caught a decent wind current of anticipation to boot. When the halving kicks in, profits are taken and panic selling ensues as miners dump everything and leave the industry until there is profitable room for mining warehouses again, it's not going to be shocking at all to see BTC dip to $250, $200, hell, even $100 for a good while after July. It'll go back up over time, but the vast majority of people who keep the currency alive right now are anticipating the upcoming halving as a memo from their boss of the company saying "Hi, starting today please continue working as always, but expect half of the pay." The block size is too small to sustain as it is. Now, imagine the lack of number-crunching and the effect THAT will have on tx's.

This kills the coin. At least, for a while.

TalkBomber
TalkBomber

wrong. btc is bullish by itself atm, on top of that you have halving and the dollar weakening severely for the rest of the year.

Absolutely no change to the dollar it will end the year around $600/btc, if the dollar does as expected it'll end up more like $700-800/btc.

Screencap this thread: BTC will be over-700 by january.

SomethingNew
SomethingNew

it'll go back down to $100 any minute now
guys don't worry that it's gone up, just short more
guys listen the dolar is known for it's strong support in value
guys please
guys

I hope you don't cope too hard when the normies are talking about buying mBTC

Poker_Star
Poker_Star

chinese yuan is now backed by gold
chinese are only ones sustaining this price
btc has been steady for months
btc jumps $50 - $70 in hours
halving coming up that makes mining more pointless
chinks are panicking about affording rice in Sept

It's over goys.

Get. Out. Now.

Need_TLC
Need_TLC

Get. Out. Now.
i almost agree. i'd just wait for september mid.
yeah yeah, i'm a high-risk taking faggot.
but, the major issue is, where to invest all that money then?
Literally nothing except gold-silver that even looks enticing.
I bet bitcoin losing steam will have a negative effect on other crytpo-currencies as well.
Which currency is gaining up or going to?

girlDog
girlDog

Ugh part of me agrees with you, such a big upswing in such a short amount of time just screams a dump to me. But what if it went up to 600 the same day I decide to sell?

SomethingNew
SomethingNew

when did you buy? i'm sure you can make out the math and see how much you are earning today, and how much you may if it goes to $600.
it's easier to calculate a stop loss limit.
exchanges allow a sell order.

PurpleCharger
PurpleCharger

Ugh

BunnyJinx
BunnyJinx

Ugh

New_Cliche
New_Cliche

Ugh

whereismyname
whereismyname

Ugh

Raving_Cute
Raving_Cute

Veeky Forums in 2012

bitcoin at 5$
extreme bubble
buying bitcoin right now

This fucking thread.

Sir_Gallonhead
Sir_Gallonhead

No resemblance hombre. We don't live in 2012 anymore, it's a different world.

Methnerd
Methnerd

how can one short it? if i have fiat, i have to buy bitcoins to trade them. which sites can someone short btc with fiat?
i have some crypto for long holds, but i don't thin it's worthwhile trading with them.

iluvmen
iluvmen

any year
listening to Veeky Forums about Bitcoin price going down

New_Cliche
New_Cliche

Well memed sir

Spamalot
Spamalot

Veeky Forums
existing in 2012

if you're going to make shit up to support your rhetoric at least do your research

likme
likme

implying I didn't mean it as /g/ at the time before they created Veeky Forums to get the autism out

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