Is Bitcoin going to go back down (to under $3k) or not? Why's it taking so long?

you dont need to be a genius to look at the charts and say, this doesn't seem right

you think BTC will have an exponential grow forever? check the timeline,
this price now is not sustainable,

its not idiotic just common sense

that wasn't the peak since it has kept going up shitlord

>its not idiotic just common sense
Look here: bitcoinblockhalf.com

The value of the newly created coins is $7,033,306 every day.

If there are more than $7,033,306 pumped into bitcoin each day then the value rises. Thats 2.5 billion in a year. Bank of america alone made 83.701 billion last year.

Fuck your common sense

People were saying this sort of stuff when BTC were a $100 each.
It's sustainable for as long as people think they can make money with it, that's pretty much forever.
The price could be 100k, people will just be dealing in ever smaller pieces

As long as people can't make a ton of money by cashing out immediately, sure.

We're in that zone, people have doubled their money in a month, and Bitcoin isn't money, yet.

People are going to sell off.

Get rekt

neo-Veeky Forums everyone

By that logic Bitcoin should have never gone down before. Even when it was $250 there was far more than $7 million buying into Bitcoin each day.

>slip into coma last week
>wake up today
>bitcoin not at $5000

WHAT WENT WRONG GUYS?!

>ignoring demand

Are you willfully stupid or just a kike dickhole?

Here is a price/hashrate comparison

Demand in Bitcoin... I've bought so many things with BTC if anything then demand is increasing.

>Dipping to $1800 is "going up" from $3k

Sure thing, buddy.

now look at LTC's hashrate increases last month compared to the price.

>immediately resorts to insulting when called out

Heh

Bitcoin ATM's are all over the place. All over the world.

BCC/BCH (CASH) also good

>600
>not sustainable
>800
>not sustainable
>1.2k
>not sustainable
>2k
>not sustainable
>3k
>not sustainable
>4k
>not sustainable

Retards gonna retard I guess.

You and every other normie investor.

>you can build a skyscraper forever, so long as people want it to go higher, it will never collapse

>>Most retarded comment of the day.jpg

Party hats

>you can't build a skycrapper forever therefore you can't build one at all

>TIL market prices are subject to gravity and the structural integrity of building materials.

unless... 9/11.....

Lmfao. That's really dumb.

why do you think party hats are a good analogy?

Please no I bought at 4k

Biggest chuckle I've had all day. Hopefully bitcoins don't melt at what temperature was it again?

We've seen complete dickheads on this board preach it can't maintain these prices since we broke off from /g. I would literally want to kill myself if I had been preaching this for the last 5 years and never made a dime.

VROOM VROOM

...

:(

Does it seem right now?

Lmao don't you guys get tired of being wrong all the time?

good time to short BTC

>people trying to predict BTCs future based on stock history

lmao I love it when first year economic majors do this

bitcoin is actually pretty easy to predict long-term

the problem is that Veeky Forums never fucking zooms out because they are trying to make 5% gains a day by basically gambling on micro movements

It will get back to 0 because it is a shit coin that wasn't intended to get this big, and because it is a plain and simple bubble.
t. coiner with a triple digit IQ

Probably below $4000 tonight, no lower than $3500 over the next week.

>normalfags see bitcoin mooning
>want to get it
>dips
>normalfags buy and it goes back up
wow that was hard

>fitting arbitrary levels loosely based on an irrelevant number series to historical data.

Now you've dun goofed user.

>b-b-but muh shameful misunderstanding of calculus and statistics

srs question from a srs retard

if I dont own any btc or eth right now, which should I buy to use to pay for altcoins?
does it matter?

>Fibonacci and 50% retracements
>irrelevant numbers
wew lad

hmm... it's above 4300, are you sure you actually meant "under 3k" instead of "under 4.3k"?

Buy bitcoin then buy altcoins with bitcoin

>b-b-but muh shameful misunderstanding of calculus and statistics

Exactly.

>see something repeated 10000000x throughout nature and human history based on the golden ratio; use this to your advantage

or

>hurr durr life is soooo random

pick one

>see something repeated 10000000x throughout nature and human history based on the golden ratio; use this to your advantage

Lmao. Thanks for reminding me how full the market is of dunning-kruger idiots like yourself.

what crypto wallet do anons use?

I feel so fucking cucked. Used my debit card to place an order to buy some more at 3.2k with a company named Simplex like a day before it spiked. Motherfuckers asked me for some verification bullshit and cancelled my order two days later on the basis that "price rates have significantly changed".
dishonest pieces of shit

I can guarantee you have no fucking idea about statistics.

And I can tell you're a liberal urban postmodernist faggot because you refuse to follow what history and your own two eyes tell you

pls show scientific proof that fibonacci levels are a profitable trading strategy

Straight from wikipedia
epublications.bond.edu.au/business_pubs/32/

>.bond.edu.au

A fixed supply, not inflationary like yellencoin or runescape gp

i just keep it on coinbase

>33.3% transaction fee

Yet somehow I'm 6 months away from being a master in physics.

I know "fibonacci retracement" and "golden ratio" might sound cool or something in your feeble brains, that doesn't mean it has any scientific merit. Trying to predict the movement of a stochastic system by setting % levels based on a number series is pants on head fucking retarded. Deal with it.

This.

You idiots keep forgetting that btc niw has much more liquidity and a much stronger backbone then it did the last few times it crashed. I would love to have a dip below 3k but the chances are slim to none

>stochastic system
wew lad

>Yet somehow I'm 6 months away from being a master in physics.

Wow. I'm sure your expertise in physics has a great bearing on your understanding of financial markets. Isn't the first thing you are supposed to learn in grad school that you you are an expert in your field and your field only?

I sold my BTC for BCC and ETH.

There is no upcoming event I'm aware of which would drop the total crypto market cap by 25%. Money is flowing in, that's fueling news stories about the rise of crypto... which encourages more money to come in.

>you need to be an expert in bullshit systems to disprove the validity of said systems

Still waiting for that explanation on what magical property of the fibonacci series (or any series for that matter) makes financial markets follow % levels based on it. Take your time.

Have you even read it? It's literally nothing.
>This does indicate that a fairly sophisticated automated trading system
based on a pattern learning algorithm like for example an adaptive neural
network could be trained on input Fibonacci sequences along with addi-
tional input vectors comprising of some common technical indicators like
the EMA cross-overs, to pick up recurring patterns in the historical price
data with plausible predictive utility. However more numerical tests are
obviously required to know the practical value of such predictions.

>you need to be an expert in bullshit systems to disprove the validity of said systems

I never said that. I was just pointing out that an unrelated degree has no bearing on your 'expertise' whatsoever. YOU were the only one here claiming that you have some expert credentials because you are a fucking physics grad student.

All around me are familiar faacessssss

nice image

Whales believe and follow them, so it's a self-fulfilling prophecy.

That's because a high price attracts more miners.

You're own chart shows this as the price moves first

Protip: it's not

Physics is literally about using math and statistics to model all sorts of complicated systems. Plenty of physicists go on to work in finance and other areas. I think you can guess why.

I can say fibonacci retracement is bullshit for the same reason I can say homeopathy or astrology is bullshit: It's physically impossible.

you are the living embodiment of the physics student stereotype, well done

>still no proof that fibonacci strategy works
stay mad kiddo

>it only counts as a peak if it satisfies my conditions

...

BEEEEEEEEEEEDNESS

It went up to 3000 and down to 1800. But it's "not a peak" because it didn't satisfy dude's pre-condition of going down by 80%.

t clearly wasn't a peak because it has kept going up. If it went down and stayed down it was a peak.

We have no idea if it's at the peak now, although personally I expect it is. And every time before it has gone down well over 50 percent.

what
>kys forever

Kill yourself normal fag

So Bitcoin has never had a peak then, because it always resumed going up

No need to get insecure friend.

clif high and his awwooooo computer said that it was going to continue up. it's not crashing for a while

Astrology is bullshit and fools a lot of people. Markets are people.
>fib retracement could well work

It "works" in the way that it makes the user wait for a retracement before moving in, instead of going full fomo.

>want to cash out $38
>$25 fee

wtf is this shit? why didn't you tell me coinbase was shit Veeky Forums?

>buying only $25

Jesus christ, do not get into crypto kid

That's why I stopped checking this board.

You guys are so fucking dumb.

Yeah just keep pissing 13-15% down a black hole in (((fees))) every time you want out:^)

t. increasingly nervous man

Stop using coinbase and stop being poor. Don't you need that money for rice and beans?