Real Talk

What's actually causing the drop?

Whales dumping? Fear of regulations? Or something else?

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medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a

it's regulation

Cryptocurrency was the worlds greatest pump and dump. Get out while you can

it's going to be a sell the rumor buy the news event.

people selling now in anticipation of bad news coming out. something is up. they know, they always know.

once news come out, there's going to be quick flash crash and then massive pump back up since news is out and people don't need to worry about it anymore.

I will tell you the truth no conspiracy theories no bullshit, we flew to close to the sun a 800 billion dollar market was not sustainable by the infrastructure built around the blockchain , Unironically to put it in simple words we drowned in money, people who saw it coming cashed out

It was a bubble inside a bubble. Whales paid for all this alltcoin shilling everywhere to delay the crash past Christmas.

Its going down to go back up

mt gox
fucking GOXXED for the second time

It's not widely used and so once the speculation hype ends the price drops.

I mean I'm still making money shorting it I'm just curious what's causing the current downward spiral.

Wanna real honest answer?

Ok. The market manipulation, whales, regulation, fear and other factors like Gox guy are important. Nevertheless in my opinion there are 2 most important factors of which one is barely talked about. One of them is that normies have burned out and after seeing the powerful lesson of december-january crash they will run away the moment someone shows them the corellation between meme chart and bitcoin chart. This ship has already sailed. People who said this is a zero sum game/ scam/ bubble are now extremely validated.
That being sad this is still moderate threat compared to the most obvious weakness atm. That weakness is the rate of inflation. Idiot hodlers and cultists love to chant how bitcoin is deflationary and scarce but for some reason they like to cut out that part that says miners produce 1800 fucking bitcoin per fucking day. 1800 BTC per day till what? 2021? Mt Gox FUD is nothing compared to this ticking time bomb. Miners have to sell their coins to cover their electricity costs, replacing mining equipment, maintenance, yada, yada, yada, you get it. Without constant supply of FOMOed normies the whole system is going to slowly collapse under its weight. The price was inflated too much too quickly and bitcoin has become too popular too quickly. Maybe if it exploded years later after several halvings it would be stable and safer but right now it's a mr bones wild ride and nobody knows how this experiment will turn out.
I repeat. The most important FUD that nobody wants to talk about or even think is constant inflation. If we count ETH and other shitcoins the whole market requires several dozen million per day to not be killed by inflation. It is already inflated too much and everyone is too scared or too stupid to admit it. I'm sorry user. The answer is the drop is caused by the system that was not ready for half assed FOMO.

It all started with the bcash on coinbase shananigans, it made BTC drop hard when the whomle market was pumped by normies.
The normies got burned and we were made fun off by tv and youtubers. Now normies don't want to buy in and we are just "old" money, with the smartest and richest trying to get out as fast as possible for a reasonable price (hence the drops)

The price was pushed up by the hype bubble. Bitcoin will never be widely adopted. It was a proof of concept but has been supplanted by superior technologies. It's useless. Get out now and save a few of your hard earned fiat dollars. You can always buy back in later at a lower price.

everything was overvalued 100x

we're going to 1k BTC, 100B market cap

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

The question you should ask is how the hell did it stay so expensive for so long. This is just a natural decline

Lol wut. We went to 20k after that

I thought this recent drop was mostly due to MtGox trustee selling off at market causing panic
and whales selling off in anticipation of a bearish verdict at the BTC G20 thing..

wouldn't call it good news necessarily but...
BTC G20 Current Regulatory Status

#USA
- ICO Prohibited, Money Laundering & Illegal Act Regulations, Cryptographic Exchange Tradition License Scheme

#Japan
- taxation, payment instrument recognition

#Germany
- It is a legitimate financial instrument and may be taxable, but requires additional licenses and permits.

#England
- No government regulation

#France
- warnings about regulatory readiness (not disclosed in detail), 'risk of speculation and manipulation’

#Italy
- Some central banks consider issuing cryptocurrencies

#Canada
- Taxation

#China
- Coin trading prohibited, ICO prohibited

#India
- Not accepted as a means of payment, regulation of money laundering and illegal activities

#Brazil
- Financial assets not recognized, direct investment prohibited

#South Korea
- No anonymous account transactions (real name system), tax preparation in progress

#Australia
- No government regulation

#Russia
- Cryptocurrencies regulation legislation, ICO prohibition, while allowing legislation, can run a legitimate exchange

#Mexico
- Preparing taxation

#Indonesia
- No government regulation, prohibited from banks

#Turkey
- No government regulation

#Saudi Arabia
- Some regulations will be introduced but not prohibited

#Argentina
- No government regulation

#Republic of South Africa
- No government regulation

#European Union
- Agreed to more stringent rules to prevent money laundering and terrorist financing in Bitcoin and other virtual currency exchanges

why not just print 50b tether and buy all the btc with it

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This is just stupid. Everyone knows that Bitcoin is inflationary until 21 Mio coins are mined. After that it becomes deflationary.

lol @ you

So it's a self fulfilling prophecy? I guess that makes sense since crypto has no intrinsic value and is only worth as much as people think it's worth.

> ETH and other shitcoins
It's actually weirder to me that ETH is tanking so hard. I don't really follow the tech that closely but ETH seemed like it had a bright future and real world applications.

The only potential I see on it is some gambling games on it.
Well I saw, many of the pyramid contracts were essentially the same concept.

Everyone knows that fact but at the same time mostly everyone pushes the fears regarding that fact away. They like to preach it is deflationary and scarce and think it will only get more valuable in time while in short term it is more dilluted. I get what you're saying but I'm only implying that people can't and don't want to comprehend the inherent risk of having a factory dumping 1800 btc per day on markets with shitty liquidity and skittish participants. It's like the fear of death. Everyone knows they are going to die but most people don't like to think about it too much or simply push the thoughts about it away and let it linger in their subconsciousness for years. You see what I mean?

I know it's weird and despite the fact there are ETH/USD markets bitcoin is still the measure of all things and the bridge between fiat and the rest of crypto. It kinda sucks for everyone who is into alts, even those that aren't shitty scams and provide some utility like ETH but whether we like it or not if btc dumps everything else dumps too and it won't change for a long time.

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

lol @ you

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that

lol @ you

T H I S

medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that. (someone else started to use this pasta i made so i hope it catches on. if we keep this up there might be a chance. it's just one user for now tho)

bump

Yea kind of like the ban of bitcoin in china

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>people selling now in anticipation of bad news coming out.
this
G20 meeting

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

Mind blown if remotely true.

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

>What's actually causing the drop?
its not a drop
if you aren't a brainlet that bought above $10k after november - you sell at profit
it's simple as that
prices above $10k are anomaly, not the other way
anything above $4k is bullish, anything above $1k is normal

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

Lol all wrong

The Q4 2017 pump was normie money coming in to the market, they got burnt and now they are leaving , many for good.

This is going to be a long bear market until some of these projects actually show so real world use cases

Can you imagine the average no-coiner? Especially the ones on r/buttcoin. I just think that it doesn't make sense that they consider a ~70% drop from ATH to be the losses of everyone in crypto because it's retarded to assume that everyone bought that high. Opportunity cost, yes, but then you can only imagine that these guys started fudding bitcoin and crypto in general some years ago, looking back at the post history of the average no-coiner. Much sadder is when you see that some of them post on r/investing or r/entrepreneur, probably spending a lot of time there, trying so hard to come up with ways to make money when he could've just bought in. Even the ones who only started being salty at the start of last year, their opportunity costs are still what, some crazy amount still. I think I read somewhere that they applauded some dude who made a manifesto of sorts and sent it to SEC, lambasting the Winklevoss twins' attempt at making an ETF. Bitcoin at that time was below $1k. I think it's more sensible to make fun of the idiots who bought into crypto when it goes below the point where you started being a salty no-coiner. Because making fun of bitcoin back when it was $1k, and after going down from $19k ATH to its current price, well, it just seems retarded because the ones who you started with in this game of crypto are still way ahead. It may very well go down to that point, but don't count your chickens and all. Like being down some 1000 points in a basketball game and cheering like a maniac when there's only a 300 points deficit. You're still losing, hard at that.

>medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a
nice

I traded 8 BTC for IOTA

btc price doesnt move naturally obviously

so people who move the price want the most pain and panic out of your average investor so they sell, the 6k touch last time got rid of normies who bought end of year for 15k+

now its time to go back to 2-4k price zone briefly where the new money before end of last year got in, they didnt panic at 6k because it was still above their buy in and they likely made plenty of more BTC since then so they were up

back to those prices and its like starting over again, people feel like they just wasted a year and just call it quits

The Bogs

ITT people fell for the "if it goes up it's organic growth, if it goes down it's manipulation" meme

crypto currencies are still shit and adoption is low - interest has peaked and is declining ... meanwhile measures to reduce exposure are being taken > google adds/twitter soon

... this might be cryptoshit coffin until its regulated or fuck knows

Nothing. Crypto is just approaching its intrinsic value: 0

>tether prints the most it ever has in a short time period, crypto prices go through the roof
>tether hasn't printed for months, prices die

Really makes you fucking think huh?

>1800 a day
is fucking nothing.. we probably lose forever more than 1800 a day just from retards sending btc to the wrong address or deleting their wallet by accident

Well maybe that's because I only own €30 in BTC but I don't think it will go under €6000