Logarithmic chart show's it all. Bitcoin bubble cycle repeats itself. The momentum though, imo should slow down every so often. It cant be same all the time, but it's hard to consider it on the chart. Worst case scenario target for this cycle - 30-40k. But 100k fits much better.
@tviewcrau, And what about a stock market bubble which will explode really soon? Where does the money go? Banks are blocking bitcoin so that people think it is a scam the less people are in bitcoin the better for banks that's why banks and visa blocks this to prepare for puting money into it. When they are done mainstreem will get in and lose again. Good luck with thinking that bitcoin goes down. I will buy your sold bitcoin.
tviewcrau
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@MaffeProg,
1) That "money" mostly evaporates. It's empty market cap. Bitcoin didn't lose 150 billion in market cap because people withdrew 150 billion, price/market cap move down massively with small amounts of selling.
1a) Do you really think people are going to be throwing money into crypto during a global financial crisis? Yeah, no certainty in the economy, got bills to pay and debts to cover, let's invest in speculative tech companies! Highly unlikely. Crypto is a risk asset. MAYBE Bitcoin alone will become a hedge in the future but as it stands BTC is the exact opposite, all this year it has led the Dow in bubble creation.
1b) Gold, an actual historically proven hedge, lost 30% of it's value in during the 2008 crisis, it didn't rally until after stocks began to rally. (It did rally WAY harder than them though.)
2) If banks are trying to crash the market in order to take control, why do you think price is going up? This makes no sense, you've invalidated your own argument.
Anyway, this is all abstraction, trade the chart.
MaffeProg
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@tviewcrau, I understand how a marketcap works. And yes they will hedge with bitcoin and yes money flows in other ways when there is a financial crisis. There is more volatility more panic and there are to much bubbles and no place to move money to even gold looks like a bad asset to have. Bitcoin in the other hand. You can call it risky or just a faster market. I see not much risk due the fact that it is a currrency you can use it to buy things.
I think you do not understand what crypto is. They are not companies but decentralized apps with it's own value. These days blockchain has more value than what kind of company. A centralized companies can fade away but an decentralized app will never fade away it is true information and with that information that gives value.
tviewcrau
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@MaffeProg, so...
-So they didn't hedge in 08 with gold, a tried and true hedge that has survived millennia, but they will hedge with crypto? Anything is possible I guess.
-Bitcoin wasn't moving faster, it was moving at the exact same speed, it was just farther along in this speculative bubble cycle, leading the pack. I guess you are just hoping that this trend breaks and Bitcoin makes a fast recovery while legacy markets face a crisis? It might, but I won't bet on that until I see it.
-It doesn't matter if YOU don't see much risk, you are a crypto head so of course you don't see the risk, it only matters what the banks see.
-Bitcoin is not a good currency to buy things partly because fees but mostly because it is too volatile to store value. Long term it will almost certainly be going up, but if we have a crisis and you have bills and debts to cover can you risk having your money lose 80% of its value during that time? Only idiots invest money that they need in speculative assets. (I know I'm not right on every trade but I will survive if I am wrong here, what about you?)
-Decentralized apps will never fade away? What? Tons of coins have already died... and there are thousands more useless coins with no working product and no value beyond speculation. MOST of them will be worthless in the future, just as most tech bubble stocks are now worthless. Crypto is not some holy grail where all previous financial rules no longer apply, rofl. (It's no wonder crypto catches so much mainstream flak when you people act like insane cult followers, you aren't helping spread the technology like this.)
MaffeProg
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@tviewcrau, Because decentralized apps are open source anyone can restart or get into developing existing cryptocurrencies. I agree there are just copy coins. But I do talk about valueable coins with new tech. Calling whole crypto a scam or saying it has no value is foolish.
I will survive due the fact that I do not need the money. You should never invest money which you need. losing 80% in a timespawn of 2 months is not that bad but loosing 40% or 20 years is just not what I should want so stock markets are slower and in that way riskier.
Also fees are lower due an update which is released a few weeks ago. Fees are cut with over 90% if not more.
2) I'm not telling you to buy stocks as a hedge to crypto.
3) Fees are still to high to use for buying coffee.
tadingmania1234
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@tviewcrau, physical gold and silver is good option but gold etf,gold bond is fucking asshole.stock market and banks are ponzi and evil system in the world.You think that people make money in stock market but the fact is mostly people are lost the value of money which they earned from stock markets for inflation,people think that they fiat currency is money but fiat currency is slavery,so stay slave.IN FUTURE blockchain,Hashgraph will destroy this ponzi system.
tviewcrau
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@tadingmania1234, they are a ponzi scheme of sorts but to date the gdp and wealth has done nothing but go upwards for thousands of years thanks to technology and population growth. That may change in the future but as it stands but we have no historical precedent for it right now so if anyone invests for multiple decades in the stock market they will make money almost certainly, even in the face on inflation; you are wrong. I hate central-banking as much as you do but you sound like an idiot and are actually not helping spread anti-central-banking ideas since you have your facts wrong.
Also, if you think Bitcoin will magically overthrow a thousand year old system, central-banking, which has waged wars to stay in power, you are naive. Gold is a good hedge against crisis and inflation but it did nothing to really protect us from central-banks which were literally born into a world controlled by gold. Even in central-banks weak nascent state, what did gold, good money, do to prevent their rise? What will Bitcoin do that gold didn't back then?