Bitcoin Price Thread

[RedDuke]

Debunked fud here;
https://bitcoinmagazine.com/article...the-bit-short-inside-cryptos-doomsday-machine

nice spin. No one here says that Bitcoin has no value. It certainly does, the issue is tethers have no value but being treated as real dollars 1 to 1. And majority of trading is taking place in Tethers.

this is a real issue. Tethers refused to be audited for last 5 years or so. Disaster in making in front of our eyes.

 

[NoahA]

It did seem to "recover" quickly lol.

Agreed. But what caused this sudden drop? Its not retail traders all selling at once. Who has the power to move the market like this? When Elon announced his earlier purchase, for sure the retailers piled in and drove it over the previous high of 42k, but this down move I'm very curious about.

 

[RedDuke]

It did seem to "recover" quickly lol.

why not, this is the only market in the world where a product is traded in real and fake money. Creating fake money take few clicks so to speak. And they will print tethers all the way until being stopped by regulators or until they are exposed as fake and it sinks in.

 

[RedDuke]

Agreed. But what caused this sudden drop? Its not retail traders all selling at once. Who has the power to move the market like this? When Elon announced his earlier purchase, for sure the retailers piled in and drove it over the previous high of 42k, but this down move I'm very curious about.

this is what happens when price is a fake. Remove tethers and the whole thing will plummet. It is a shame that such great idea is tinted. When it blows up it will be huge, and who knows how it will affect the real
World.

 

[NoahA]

this is what happens when price is a fake. Remove tethers and the whole thing will plummet. It is a shame that such great idea is tinted. When it blows up it will be huge, and who knows how it will affect the real
World.

Well lets just say that if it drops below 30k, Elon will have a serious issue on his hands. TSLA cannot afford to piss money away that it needs for operations. Granted, its only about 10% of its cash, but still. The more that institutions pile in, the worse it gets if BTC does have a very severe correction.

 

[RedDuke]

Well lets just say that if it drops below 30k, Elon will have a serious issue on his hands. TSLA cannot afford to piss money away that it needs for operations. Granted, its only about 10% of its cash, but still. The more that institutions pile in, the worse it gets if BTC does have a very severe correction.

correct. Forget about below 30k, we can see below 10k very fast once dominos start falling.

 

[Cuddles]

Agreed. But what caused this sudden drop? Its not retail traders all selling at once. Who has the power to move the market like this? When Elon announced his earlier purchase, for sure the retailers piled in and drove it over the previous high of 42k, but this down move I'm very curious about.

Elon tweeted BTC was overvalued

 

[Snarkhund]

Hmm $50k again... MOAR. Dumped all the silver I bought in the 90s. Take a guess where I'm putting it lol. Well most of it.

Some going into DOT. Need a little of something that might moonshot. Pure speculation with money I can afford to lose.

 

[easymon1]

MSTR
https://www.elitetrader.com/et/threads/bitcoin-price-thread.315402/page-301#post-5326858

https://www.elitetrader.com/et/thre...at-right-here-baby.343012/page-8#post-5331560

 

[maxinger]

BTC futures broke the record on 23 Feb 2021.
The day range was the highest at 9600