Bitcoin FINALLY hit $30k

[Jasomarch]

This is how it's been since 2009.

always the first riders win then people watch it. If I had bought 10 bitcoins in 2009, I would be rich now

 

[Deleted member 1333509]

Why do you think this?

It's not going back under $10K for sure. There are a number of models that the price is sticking to well including stock to flow and they show that if anything it was oversold at under $10K.

From 50000$ to 8000$ would be a whopping 85% price correction. How do you come to that prediction? I personally don't see BTC ever dropping under 18000$ again.

This.

$80k by the end of 2021. Mark my words!

Minimum, absolute minimum.

 

[Toz]

always the first riders win then people watch it. If I had bought 10 bitcoins in 2009, I would be rich now

Not necessarily. Remember, the first major Bitcoin transaction was from one of those "first riders", who spent 10,000 BTC to buy some pizza. That's not a win, in my opinion. In 2021, do you know how much pizza you could buy with 10,000 BTC? Me neither, but it's a lot.

 

[Naughtyfatkid]

Anyone thought of stacking up on XRP? It dipped real well.

 

[Deleted member 1333509]

Anyone thought of stacking up on XRP? It dipped real well.

They have an outstanding legal case that could cause them catastrophic damage in the US. I'd probably wait until after that is resolved.

Notice while other cryptos have pumped a bit over the last few hours, XRP is dead.

 

[Willyfish]

For a few years I am in the gold investing, that I always saw like the most secure long term investment. Bought gold in 2013 and now in 2020 it generated me over 14'000 swiss francs (approximatively the same in USA), I didn't resell yet. Like most of you said nobody knows 100% but I highly suspect gold to increase a lot over the years that will come.

I thought I shared this inside your bitcoin addict discussion as I had interest only in precious metals over the years

 

[rauza]

This is pretty crazy. Hope the volatility doesn't hit it too hard.

 

[KomonMam]

Down to 3-5k and I'm selling everything.

 

[Dotfordough]

$80k by the end of 2021. Mark my words!

I know you are not holding some

 

[Fragmaster]

Volatility is when things go up and down. This is tulip mania . Damn popcorn time. Last season , 9th january '18 was when everything collapsed, month after BTC ATH. I wonder how things will play out this time.

 

[Toz]

It's not going back under $10K for sure. There are a number of models that the price is sticking to well including stock to flow and they show that if anything it was oversold at under $10K.

If this is what you believe, then you haven't been paying close enough attention. Right now, there is a $1,400,000,000,000 lawsuit against the companies associated with Tether. The problem with this "stablecoin" going down, is that it has already done so and will take Bitcoin down with it, as we've seen in the past.

They have an outstanding legal case that could cause them catastrophic damage in the US. I'd probably wait until after that is resolved.

Notice while other cryptos have pumped a bit over the last few hours, XRP is dead.

XRP is not dead. Again, you may not have been paying close enough attention. It's holding strong at where it was just a few months ago, AFTER all the FUD and this ongoing investigation. Coinbase only halted trading because they're trying to IPO. It was expected. Notice that even after Coinbase announced that they would halt trading, the XRP price dipped a bit, but it's still holding strong.

Did you see the new Flare Networks video? If not, I'll link it here:

XRP isn't going anywhere. It will have clarity and once this Tether ball drops, XRP will be in the clear.

@VSYNC PROTIP: Watch the video at a slower speed to catch everything.

 

[Deleted member 1333509]

This is tulip mania

Tulips had no function or inherent value that was tied to their astronomical price - pure speculation.

BTC provides a range of tangible and uniquely valuable functions for millions of people globally. The comparison ppl make with tulips is a bad one.

If this is what you believe, then you haven't been paying close enough attention. Right now, there is a $1,400,000,000,000 lawsuit against the companies associated with Tether. The problem with this "stablecoin" going down, is that it has already done so and will take Bitcoin down with it, as we've seen in the past.

Haven't been paying attention?

Tether, Ripple or any other crypto aren't bringing down anything, and saying they will is wishful thinking for people that missed the boat when the price was at $10K.

The guy from that link is a finance professor that focuses on fraud, of course his angle is going to be suspicion - he's a complete outsider and even worst he's studied mainstream finance so probably thinks he's an expert on crypto.

Case in point, he quotes an article from Coinbase saying that USDT is only 74% collateralized, but that's old news - everyone in the crypto industry knew about that, and in fact that article is a year old. He wrote that Medium piece a few months ago, so he's using info that everyone else already knew and that's way out of date.

Since then Tether has dealt with their collaterization problems.

I wouldn't take the word of some random finance professor that most likely first heard about Bitcoin in the 2017 bull run.

Bitcoin isn't going back to 10K.

 

[rauza]

Volatility is when things go up and down. This is tulip mania . Damn popcorn time. Last season , 9th january '18 was when everything collapsed, month after BTC ATH. I wonder how things will play out this time.

Gotta see it to believe it man, this right now is too good to be true for my wallet lol

 

[Fragmaster]

Tulips had no function or inherent value that was tied to their astronomical price - pure speculation.

BTC provides a range of tangible and uniquely valuable functions for millions of people globally. The comparison ppl make with tulips is a bad one.

BTC is far more deadly. Tulips are indeed useless, which makes easy to deduce speculative part of price.
How can one decide how much of BTC price is functionality, and how much is speculation? Because speculation part will crash.

Anyway, I believe giving regular people access to speculative assets, is on par with giving guns to kids. It will always end up in self-harm.

 

[Deleted member 1333509]

BTC is far more deadly. Tulips are indeed useless, which makes easy to deduce speculative part of price.
How can one decide how much of BTC price is functionality, and how much is speculation? Because speculation part will crash.

No you're certainly right that the movements of the price of Bitcoin has a lot to do with speculation, but tulip mania was pure speculation based on literally no utility at all. That's not the case with BTC.

BTC is only deadly to greedy people that get scammed (by obvious scams) and then jump off bridges after losing their life savings. Other than that it's very non-deadly.

 

[Toz]

I wouldn't take the word of some random finance professor that most likely first heard about Bitcoin in the 2017 bull run.

Fair enough, but that doesn't discount the stranglehold that Tether would have on a lot of the cryptospace, should anything happen to it.

 

[Deleted member 1333509]

Fair enough, but that doesn't discount the stranglehold that Tether would have on a lot of the cryptospace, should anything happen to it.

The impact of Tether collapsing would be huge.. maybe on of the biggest negative events possible. But it wouldn't stop the upcoming bull run, and it wouldn't shed 66% off the value of BTC to get it back below $10K.

 

[Fragmaster]

Real question is, how much collateral did tether acquire by expanding their usdt supply.

Positive feedback loop is obvious. Mint usdt, buy BTC, pump BTC price, sell BTC, remove minted, keep delta.

 

[Deleted member 1333509]

Real question is, how much collateral did tether acquire by expanding their usdt supply.

https://wallet.tether.to/transparency
+ @Toz.. that finance professor wrote a whole article on this and didn't bother going to the Tether website to see that all USDT is fully-collateralized first.. because he's a finance professor, not a wall street hedge fund manager or a cryptocurrency expert.

Professors do what they do a lot of the time because they never actually became the thing they teach about. They're good at marking exams and regurgitating the information they've memorised verbatim after 2 decades of teaching the exact same textbook info to class after class after class.. not understanding cutting edge technologies.

If your area of "expertise" is fraud, you're going to find ways to make things you don't understand seem fraudulent.

 

[Fragmaster]

Phew, green shield icon, we are safe.