Bitcoin ahead of major inflection point (DROP!)?

Discussion in 'Digital Currencies' started by TreasureHunter, Feb 22, 2021.

  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Cryptos have sort of become a euphoria in recent days, so it seems the end is near... I've been seeing comments on youtube, WSB, and twitler slamming precious metals and commodities. Why? Because they know bitcoin is fiat... so it goes that pm that threatens fiat currency will also threaten bitcoin. :D
     
    Last edited: Feb 23, 2021
  2. mmm....shiney!

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

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    Poking again?
     
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  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Don't take the bait, it's poison!
     
  4. mmm....shiney!

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

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    Screen Shot 2021-02-24 at 6.29.47 am.png
     
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  5. mmm....shiney!

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

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    And on the topic of Tether:

    https://cryptofreewallet.com/2021/0...-new-yorks-attorney-general-for-18-5-million/
     
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  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Dollar did a mini spike today, I think I’ll cash out of that account. Tired of waiting, overall trend seems to be down despite the volatility. Short term trade isn’t my forte.
     
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  7. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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  8. mmm....shiney!

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

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    ^ I put more emphasis on BTC's fundamentals more than any tech analysis of how it is currently trading. As a result I'm not that interested in making comparisons between now and the previous bull markets because the fundamentals have altered radically in the past 6 months.

    There are plenty of other crypto projects that suit themselves better to tech analysis than BTC. XRP or Doge for starters.
     
  9. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    ...thus, I did emphasise on going SOUTH :eek:
     
  10. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Why do I get a sense of deja vu in this thread?

    You guys should guess more :rolleyes:
     
  11. willrocks

    willrocks Well-Known Member Silver Stacker

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    How many times has it crashed now?
     
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  12. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    https://99bitcoins.com/bitcoin-obituaries

    It never ceases to amaze me that some people sprout off like they know what they're talking about....but really its pretty obvious they have no f**king clue o_O

    This sub-forum is full of them! :p
     
  13. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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  14. TreasureHunter

    TreasureHunter Well-Known Member

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    The crashes coming are going to be bigger and bigger, as the "pump and dump" is getting more intense.
    It's a pyramidal scheme. Consumes tremendous amounts of energy. In this form, Bitcoin cannot survive as a long-term currency.

    But I can imagine it going to several hundreds of thousands of bucks before it turns into a pancake.
     
  15. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    It's going to survive as a store of value. Something else will step up to take on the currrency role! and there are currently plenty of options.
     
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  16. TreasureHunter

    TreasureHunter Well-Known Member

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    Crypto might be a limited UNSTABLE store of value until enough people embark and start believing in it.
    And the current fiat money is going bust. I think this will hyperinflate and the Fed/ECB/etc. will use the new crypto fiat as the new (more expensive) currency.

    People will have gotten used to the Bitcoin effect by then. So, expect the new official fiat cryptos to play a similar game.

    But I'm afraid they'd couple that with some form of rationing/limited use (they'd make sure most of people's fiat money turns into toilet paper and they won't be able to simply buy the new currency, which might
    be backed by gold). Just my imagination running wild...
     
  17. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    BTC $63K...:mad:
     
  18. heartastack

    heartastack Well-Known Member Silver Stacker

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    Final buying opportunity coming up? finally a noteworthy correction
     
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  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Inb4 screams and yells of FUD. Enjoy your centralised digital assets of no intrinsic or tangible value!
     
  20. mmm....shiney!

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

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    ^ 45 mins of Stone Age nonsense? Likely.
     

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