Call the Top for BTC 2017?

Discussion in 'Digital Currencies' started by BuggedOut, Aug 10, 2017.

  1. Phiber

    Phiber Well-Known Member Silver Stacker

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    Geez don't know where the top is, but it's accelerating insanely fast!
     
  2. dozerz

    dozerz Well-Known Member Silver Stacker

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    looks like wall st money entering in preparation for futures next week.
     
  3. Brendio

    Brendio Active Member

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    If it weren't for the tax liability headache it would create, I would be very tempted right now to set up some more exchange accounts and send some large international wires to arbitrage that difference.
     
  4. SilverDJ

    SilverDJ Well-Known Member

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    And the difference between exchanges can be enough for worthwhile arbitrage.
     
  5. JNS

    JNS Active Member Silver Stacker

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    Climbing to 17K USD, been watching the climb since last night.
     
  6. TreasureHunter

    TreasureHunter Well-Known Member

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    This is crazy: it's almost 16,000

    Now I too can imagine it can reach 50,000
     
  7. JNS

    JNS Active Member Silver Stacker

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    About 16930 then it steady, ATM to 16200 range, looking to go and hit up to 20k+ end of the year.

    CHART.jpg
     
  8. Brendio

    Brendio Active Member

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    And this is why I never even tried to call the top for BTC. It has a habit of making fools of predictions.
     
  9. dozerz

    dozerz Well-Known Member Silver Stacker

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    if you were unsure who is buying bitcoin https://www.bithumb.com/

    already over $22k usd with over 2 billion in trades for the past 24 hours, hello korea :)
     
  10. Golightly

    Golightly Well-Known Member Silver Stacker

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    I wouldn't Arb with how long trans are taking on the block chain
     
  11. tolly_67

    tolly_67 Well-Known Member

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    This is the sort of rise that was expected of silver. Still waiting.
     
  12. leo25

    leo25 Well-Known Member Silver Stacker

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    Just saw there is a new Derivative exchange called BitMEX that's just popped up on coinmarketcap. It's doing more volume then any other exchange has done.
    https://coinmarketcap.com/exchanges/bitmex/
    https://www.bitmex.com/

    Be careful people, the big boys are coming in and they see a MASSIVE once in a life time shorting opportunity. They pumped it up and they can deflate it all the way back down.
     
  13. Brendio

    Brendio Active Member

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    I'm pretty sure bitMEX has been around for a while, so it's probably just CMC picking it up now. The difference between it and CME is that bitMEX is bitcoin settled and CME is cash settled. Plus CME has more established cred with the big end of town.
     
  14. domdolittle

    domdolittle Active Member Silver Stacker

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    A$ 25000 by year's end !
     
  15. jerrygold

    jerrygold Active Member Silver Stacker

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    I see PMs like insurance if something goes wrong with the economy. If you want to make a lot of money you need to invest in riskier things like bitcoin, of course you can also lose a lot of money the same way. No risk no reward they say. Hard to see how investing in silver or gold will ever lose you a LOT of money (percentage wise) as they will always be worth a fair amount I think.

    As for thread topic I could see Bitcoin being worth $30000 AUD the same way I could see it being worth $10000 .
     
  16. Ag bullet

    Ag bullet Well-Known Member

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    Change the thread title to- 'call the top for BTC today'
     
  17. Brendio

    Brendio Active Member

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    I know I am going to regret saying this, but I reckon we have seen the top for the year. I call Cryptokitties as the sign of peak irrationality. When you are a crypto-millionaire who has made insane gains, paying $100,000 for a virtual cat doesn't seem as insane.

    Bitcoin has $20 transaction fees, ethereum isn't doing much better - one dApp is enough to clog it up. I think that's a sign that valuations have run ahead of utility.
     
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  18. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    I would say utility was only a very minor consideration during this bull run, and only a consideration in FA eg IOTA or ripple and only to try and guess the next “good thing”.
     
  19. jerrygold

    jerrygold Active Member Silver Stacker

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    Yes I agree, Bitcoin is more about an investment in this type of technology more than "is bitcoin going to be the only future". When it comes to digital currencies in the short term nothing is going to be stronger than bitcoin and there are a lot of rich people with too much government fiat wanting to diversify their investments.

    If a $20 transaction fee is too much you shouldnt be investing in bitcoin, its more like a >$2000 investment type opportunity. Its increased like 3x in 2 weeks, if you were bought at the right times you are 3x richer in not much time. But in my opinion it should be treated more like a long term investment until something that looks to replace bitcoin is on the agenda. If you held since the dark days you are rich beyond belief and that is still possible right now imo. There are only ever going to be 21 million bitcoins created, and over a third of them are already destroyed which means the whole world demand is going for 14 million bitcoins.
     
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  20. leo25

    leo25 Well-Known Member Silver Stacker

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    Why would you think the whole world would want bitcoin? That's like people saying if everyone buys gold the price would be x amount. But everyone will never want gold, so it's a silly point. And bitcoin is an even weaker point then gold. Saying everyone will want bitcoin is like saying everyone will only want Perth Mint gold and no other stamp bar.
     
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