Basically new 4 - 6 hours will decide fate of this market

fib retracement says 4200

OK, WE HAVE A PROBLEM

Damn neo 4 grand

we only have a problem with idiots panic selling

let it drop to less then 4k hopefully then it will stabilize and we can buy cheap.

it's going to drop to sub-1k just like it did a few years ago when it went from 150 to 1500 in a couple of months and dropped back down to 300 after correction

every drug-dealer currently holding the stock (which makes up for most of the volumetric transactions of BTC, with gambling coming in close 2nd) is going to be dumping it so they don't end up owing their supplier $50k for product they bought a couple of months agoand have been selling ever since

sorry folks but when your currency is backed by the international drug trade, that "panic selling" is actually just people making sure they can pay their debnts without getting a bullet through the kneecap by Paco when he comes looking for money for the pound of columbian sugar he sold you

BTC is no longer your druggie coin, big investors came in, were the fuck have you been?

>big investors came in
cartels and russian mafia you mean

It won't. 1800$ is it's absolute bottom and I think this time we are going to dip to around ~2500$.
People buying alts right now are retarded.

This board is full of people who joined in the last two months screaming buy the dip hahaha

updated version

Pretty much

yes, it still is absolutely the druggie coin. that's what people use on the markets, it's how large players launder money between countries as well

nobody is buying drugs with memecoins, which are all backed by BTC in the first place. the closest thing that came to widespread adoption on the darknet was LTC. drug dealers know what they can do if they use BTC properly i.e. profit from drugs and people who are trying to get rich quick by pretending BTC (and by extension the memecoins) is backed by anything except drugs.

lol noobs

Technical analyse is a meme. No matter how much will it drop now, it's gonna break 5k in less than a month.

but muh dapps and blockchains ;DDD you're right you know. If BTC wasn't used on the DNM it'd hit the floor like shit hitting the fan

>"the stock"
>drug meme
Back to the stonks containment thread with ye.

>sorry folks but when your currency is backed by the international drug trade

you're a fucking idiot if you think dn marketplaces constitute any considerable amount of the "international drug trade"

wait what am I saying, of course you're a fucking idiot, this is Veeky Forums where kids talk confidently about things they have no actual idea about. Just shut the fuck up.

educate yourself

trilema.com/2013/what-the-drug-trade-is-how-the-drug-trade-works-and-why-silk-road-didnt-work-and-didnt-matter/

>it's how large players launder money between countries as well

"large players"

ahahahahahhaha

ahahahhahahahahhaha

no no no

ahhahahahahahhahahahhhahahhah

>t. brainlet thinking that marketplaces were where large-scale drug trades took place
>t. brainlet thinks that PGP gained widespread adoption because little johnny wanted to buy an oz of coke for his 21st birthday party

kys faggot

the total global drug trade per year is ~$470 billion USD

in the last three years, the market cap on BTC has jumped about 50 billion.

if you don't think that there's some high-volume money laundering going on then kys, sorry your coin is and always had been backed by drugs and so has every meme coin, and will always be volatile because of it

fucking babby's-first-daytrade larpers don't know how to financial crime

Crypto-currency is a really bad method of laundering large amounts of money. Do you not think any and all crypto cash-out points that have the ability to deal with millions of dollars at a time report large transactions to the authorities? How much of an idiot are you?

To elaborate these sites are ONLY allowed to operate because they co-operate with state authorities. They would already be shut down if they were actively and happily laundering money.

vlad the drunk russian's slav family was spared the gangster gulag because he wrote a trade algorithm so that for every 20 year old american johnny smith who ordered a gram of Bratva's cheaper-than-usual MDMA, their bot purchased a bitshekel. suddenly the price of bitshekels goes up because there's a daft punk concert and fifty johnny smiths buy fifty grams of MDMA. ah hoy, what's this?! a bunch of larping daytraders from reddit and Veeky Forums start salivating at the thought of jumping on this edgy new trend, and now the bitshekels that drunk vlad's algorithm has been reinvesting in the market are worth twice as many normiebux. Bratva and every other national crime syndicate in the world takes notice, three years later BTC's market cap is 1/7th of the world's drug trade and growing, and the redditors and biz larpers are still falling for automated pump-n-dump scripts written by destitute russian CS dropouts who owe the mob money

You could be smart about it and still stay ahead. You're laundering money. Who cares if you lose a bit of value. Or just do it slowly and steadily. Perhaps people are doing it too fast causing these small crashes. An interesting theory at least.

OMG i panicked and sold my with 10 euro lost.

did i cringed?

>>t. brainlet thinking that marketplaces were where large-scale drug trades took place
>>t. brainlet thinks that PGP gained widespread adoption because little johnny wanted to buy an oz of coke for his 21st birthday party
>kys faggot

thats the exact opposite of what is being said, you ADHD moron

try reading

brainlet

localbitcoins is and always has been the way that these transactions work, and that's assuming no direct contact/wallet exchanges. all of those "whales" that are worth 80-90-100k a piece that you see changing wallets are being moved and tumbled. it probably moves so fast now that it's unnoticeable but when the market cap was lower, with fewer microtransactions, it was very obvious that the framework was there. it just wasn't practical until the market cap grew to what it is now

market cap is literally a seventh of the world drug trade

>not significant but can't explain why the market cap exploded and doesn't want to admit that it's probably got something to do with the reason BTC became popular in the first place

its drug money
it will be at $800/btc by thursday

Is chan coin still going to moon?

as someone who was involved with certain things I can assure you drug traders and cartels are def not in this shit.

This makes no logical sense.

If they owe Pablo £50k
they still owe Pablo £50k regardless of how much each BTC is worth.

or a £10er for that 10 bag to dave down the pub...

Nice how big is your short position user?

That’s some grade a fud to scare the newfags here

Ok serious question, one I've wanted to know the exact details to for a very long time, how do these "big-players" launder money via bitcoin exactly?

Example using DNM:

Person [x] purchases btc --> btc goes to wallet --> btc goes to DNM --> person [x] buys drugs --> dealer takes btc --> to withdraw (((magic))) the btc is tumbled using a tumbler (google this) --> dealer sells off btc using exchange/localbitcoins or something

*crickets*

and this is exactly why there are no "big players" on the DNM contrary to what morons wish to LARP as

>doesn't mention monero

If that's how you see crypto, purely for DNMs and money laundering, you should already own plenty.