Veeky Forums here, can someone explain whats going on with btc?
Veeky Forums here, can someone explain whats going on with btc?
Jace Moore
Camden Phillips
bitcoin go up
bitcoin go down
Kayden Russell
its fucked
Jeremiah Nguyen
shit's bitchin
Nathaniel Reed
Did you read the Bible? The last chapter.
Kevin Hill
Market correction after a few weeks of strong gains. People who bought in high in the past few days are panic selling.
Gabriel Morris
was quarter squatting 2pl8 with shit form
then tried to go to 3pl8
Jeremiah Perez
nice
Brandon Edwards
This.
It failed and is now going back to 2pl8.
It will have to train long and hard to get up to 3 and eventually 4pl8.
James Diaz
It tried to do cardio.
Andrew Baker
Renaissance channer. Good man.
RIP Scoob
Jacob Green
Is that the reason transactions are going so slow?
Ian Wood
It's deloading
Asher Martin
Manipulators are doing that so bagholders can't run away before them.
Lincoln Brooks
It's time to buy some BTC thats what
Aiden Nelson
ITS GOING TO 0, EVERYONE RUN FOR THEIR LIVES AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
I honestly have no idea
Aaron Bell
Yes. People are flooding the exchanges.
Jaxson King
Fucked up its cycle, no PCT. Can't get it up anymore
Anthony Roberts
well it's crashing
Connor Rogers
Kek
Landon Brown
Oh wait, I wanted to post the whole scene. Here.
Daniel Myers
Bitcoin has been abusing steroids and has no PCT planned
Jack Brown
Good thing you lift cause those bags are gonna be heavy
Christian Hall
sorry for your loss, op
Parker Rodriguez
Bitcoin just unracked a PR squat, went down into the hole and shit itself
Joseph Richardson
basically normies were buying up BTC because of its rapid growth, which spurred even faster growth, which created a perpetuating cycle of growth enticing normies to buy, creating more growth, enticing normies to buy, etc.
This is obviously unsustainable since eventually the rate of growth is going to slow down because there isn't the same rate of new money entering in to the market. Then you have a bunch of people holding BTC that they bought at the most expensive price, but no new buying pressure entering into the market.
That's what just happened today; then the price rapidly falls, normies panic because they took out bank loans to buy BTC and can't afford to lose that investment, so they all sell their BTC for a loss (ie: bought at $11k, sold at $9.5k) until the price finally plateaus (or "corrects") at which point the entire cycle repeats itself at a lower price where there's more buying power.
Charles Baker
this hit roughly the same time
thehill.com
Ethan Torres
BTC is like the dollar, but on 25g creatine daily and today we witnessed some true roid rage.
Charles Martin
If all goes well, you will have your second chance at wealth. Hopefully there will be a long bear market so that we can accumulate at consistent ATLs for a while before it recovers.
Nolan Taylor
More like tried to do 4pl8
Anthony Brooks
Why are people panic selling for a loss if the price is going to go back up? I'm economically illiterate but it seems logic that after a crash, the market recovers. Even if it takes a lot of time it might actually be possible to sell and gain something.
Do people buying bitcoin expect a quick investment?
Elijah Myers
great depression for online currency
Caleb Ortiz
because they put in more what they can afford to lose.
Isaiah Perry
Gotta confuse the market right babe?
Michael Taylor
'Because they don't think the price is going back up
Just look at this entire board that thinks this is a permanent crash and they're losing everything because Bitcoin doesn't hold at 10 grand and constantly rise for months on end and never seeing it dip below its ATH. It's a bunch of idiots who have either forgot that crypto is known for being volatile or never knew it in the first place
Ryan Reed
It's actually a pretty standard dip for crypto. Nobody looks at the historical charts.
Jeremiah Anderson
/thread
Jace Gomez
Wait Piana died. Scooby is okay, right?!?!
Liam Clark
It fell for the onion meme
Nicholas Thomas
this
Luis Baker
kek'd
means the new currency must be rolling out soon.
you should have cashed out when you had the chance
Nathan White
top pip
William Walker
this thread
John Robinson
CHAD if you dont know what is going on, guess what your co-works that thought BTC was a good idea are thinking?
Jace Lewis
T H I S
H
I
S
Some of these people are absolutely fucking retarded. Crypto is volatile. Trying to make quick gains for a vacation on a fucking loan you couldn't afford to take out at the bank is not a any type of coherent crypto strategy.