BTC drop: everything you need to know

bartosimpsonio said:

About cryptos, their market cap calculation is completely flawed. Here's why.

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jazzc said:

Not only is it flawed, it's not supposed to be used that way at all. It's like judging basketball players by measuring height.

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bartosimpsonio said:

Other excerpts from that document are great as well. For instance, they recognize the versatility and utility of cryptos and say it shouldn't be banned, but small investors protected. This is awesome for cryptos.

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BigTroll said:

C'mon, I misspelled a word. My english sucks, nothing new here

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jazzc said:

Not only is it flawed, it's not supposed to be used that way at all. It's like judging basketball players by measuring height.

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Sherb said:

https://www.blackhatworld.com/seo/rampant-crypto-misinformation-x2.995656/

Don't even look at this (in my opinion). It's a useless measure of value, especially for bitcoin.

I saw this article earlier: https://www.ccn.com/600-billion-cryptocurrencies-now-worth-amazon/ (sorry about all the ads).

"$600 Billion: Cryptocurrencies Now Worth More than Amazon"

No they aren't. That's not even a valid measure.

Comparing a store of value to a corporation's valuation is not a comparison with any value. They are completely different things. Assuming that cryptos are "currencies" (which they aren't), that would be the equivalent of comparing the market cap of the Icelandic Krona to the valuation of Ikea. Why would that be valid?

Even more bothersome than that is these market caps not subtracting out coins that will never be recoverable, which for Bitcoin alone would negate tens of billions of dollars. Stocks don't do that.

Just don't. They aren't the same, they aren't supposed to be the same.

I gotchu fam.

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BigTroll said:

Exactly. That's why I still believe crypto is the future. I'm talking aboutthe tech behind blockhain.
Google it: first car from the world problems, first fiat money problems, first built house problems, etc.


EDIT: Funny shit, China was the first world country who adapted FIAT money. Now they are the first blocking crypto

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BigTroll said:

I decided to open this thread to point the real reasons why btc is dropping.
Idiots who believe this is because of fb ads - chinese new year - wallstreet - manipulation, this is just stupid, and if you really belive in those, then u're an idiot.
"crypto is prohibited on fb ads" - yeah, same as penises. Did the penises dropped? I strongly doubt.
"chinese new year - ppl withdraw for holidays" - sure! those millionaires who are all-in into btc just withdrew a few miliions of $$ to celebrate the new year, but they will invest back. sounds resonable.


Real reasons for btc drop:
1. Korea spreading FUD, India/China banned crypto
As you can guess, only China matters from here. They were the biggest traders and boom, the market just got a huge hit.
2. After BTC raised over $12k, BTC got a large attention from televisions and a lot of noobs came here hoping they will get rich quick, of course at the first drop they sold to cut their losses and now it have a domino effect.

Some gurus will try to convince you that their graph/chart is good: BULLSHIT.
Everyone you see is doing TA on bitcoin - trust me - is a scam. Everything that it happens on BTC is just because of the news, laws, govs. Nothing to do with TA (tactical analysis).

Will BTC recover?
My 2cents: Yes, I'm pretty sure. Invest responsable. It might get to $100k by the end of year.


Oh, I almost forgot: "price manipulation - they manipulate the price down to can buy more btc" - I dont even want to argue with this, if you are stupid enough to believe this.

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Muhammad Raza Khatri said:

What is the acutal cost of 1 BTC in USD?

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