Bitcoin Price Thread

Bitcoin Plunges Over 20% in Another Sign of Global Market Nerves
By Joanna Ossinger 4 December 2021 Bloomberg

Bitcoin plunged along with other cryptocurrencies on Saturday, in another indication of the risk aversion sweeping across financial markets.

The largest digital token fell as low as $42,296 before paring some of the tumble. It was trading at about $47,600 as of 1:50 p.m. in Singapore on Saturday, a drop of about 11%.
Continues....

Youch :)
 
themickey said:
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The largest digital token fell as low as $42,296 before paring some of the tumble. It was trading at about $47,600 as of 1:50 p.m. in Singapore on Saturday, a drop of about 11%.
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Youch :)
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Just to put things in perspective...I went back to the OP of the thread by liquid hot @Magna just 4 years ago...

MagnaBTCpriceOP.JPG


Boy, those prices were the days, eh?
 
Overnight said:
View attachment 272443

Boy, those prices were the days, eh?
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Just think that a month after that post Bitcoin reached 20K!

Videos like this just make me want to cry...


Trader Curt said:
So I have shorted all my crypto positions, and waiting for a buying opportunity. I have decided to wait for this Tether explanation with the senate to pass, because I have a feeling, it's not going to be good. And with this microphone pattern that's on the charts (which is usually bearish) and this structure that looks like a double top pattern (which is usually extremely bearish) and we also have an assending wedge pattern (which is also bearish) I have decided to liquidate all crypto positions until we hear back from the senate or Tether comes up with a damn good explanation. Because we are talking about some massive drops if this goes sour.

So for the short term I'm bearish, long term bullish!
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You sir were right. I sold before you posted this and very glad I did. I think it's safe to say that we have entered a bear market, or have we?o_Oo_Oo_O
 
johnarb said:
We need to get above $61K ASAP. The longer we stay below $50K, the longer the bearish sentiment continues

If this is another shitty week for bitcoin and cryptos, we don't have too many weeks left :banghead:
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Yes.

We should see some kind of breakout within the next 2 days. But who knows where??
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The bulls better step their game up
 
Hackers steal at least $150 million in assets from crypto platform BitMart
Published: Dec. 5, 2021
By Mike Murphy

https://c.newsnow.com/A/1106885920?-34138:37793

https://www.marketwatch.com/story/h...sets-from-crypto-platform-bitmart-11638753178

Blockchain-security company says losses closer to $200 million
im-329975


Crypto trading platform BitMart confirmed a “large-scale security breach” over the weekend, saying hackers stole about $150 million in assets.

“The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed,” BitMart said in a statement Saturday night. “We are now conducting a thorough security review and we will post updates as we progress.”

BitMart added it was temporarily suspending withdrawals “until further notice.”

However, third-party blockchain-security and data-analytics company PeckShield Inc. — which first called attention to the breach Saturday night — estimated losses at nearly $200 million, and detailed a list of outflows that included about $100 million in losses from various crypto assets on the Ethereum blockchain and $96 million in losses from assets using the Binance Smart Chain. The stolen loot apparently included assets from nearly 50 tokens, including Binance Coin, Safemoon and Shiba Inu.

The cyberheist is believed to be one of the largest from a centralized crypto exchange.

In August, a hacker stole more than $600 million in crypto assets from DeFi platform Poly Networks, but later returned the entire haul, claiming they had only taken the assets “for fun” and had wanted to point out a security vulnerability.
 
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Trader Curt said:
Yes.

We should see some kind of breakout within the next 2 days. But who knows where??

The bulls better step their game up
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Everyone is very much looking forward to the next bear market and I'm not gonna lie that includes me

I'm good to dump everything now and go to cash (except for 10 btc's, I'm never selling)

It's preferable to do it in January so the tax bill for will be due in 2023, but we make the moves when it's right not when it's convenient

On chain analysts are saying that this bull market cycle is still not over

Anyway, if we get over 85% discount from btc at this price and the other cryptos at over 95% discount, man oh man, it would be some nice entries for the next bull market cycle

Everyone on crypto twitter has made so much profits off this bull market, everyone's thinking the same thing, and the market has a way to put the most pain on most people so this bear market may just do something very different, lol
 
johnarb said:
Everyone is very much looking forward to the next bear market and I'm not gonna lie that includes me

I'm good to dump everything now and go to cash (except for 10 btc's, I'm never selling)

It's preferable to do it in January so the tax bill for will be due in 2023, but we make the moves when it's right not when it's convenient

On chain analysts are saying that this bull market cycle is still not over

Anyway, if we get over 85% discount from btc at this price and the other cryptos at over 95% discount, man oh man, it would be some nice entries for the next bull market cycle

Everyone on crypto twitter has made so much profits off this bull market, everyone's thinking the same thing, and the market has a way to put the most pain on most people so this bear market may just do something very different, lol
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Exactly, but the problem is that nobody knows if we are in a bull or a bear market. And it seems like everyone expects the market to go back up. I've learned over the years that the market does the opposite of what you think it's going to do.

Right now there's some bad fundamental news, an entity has moved over 5000 Bitcoin to Coinbase. This is never good, and we also have the smp 500 sinking, and this is affecting Bitcoin because a lot of stock traders dabble with Bitcoin. So I'm still a bear for now just waiting to see what happens. I think we are going to see a lot of manipulation before taking off again. It could be a matter of days, weeks, or even months.

I'm probably going to put 60% into Ethereum when I feel we're moving back up. And 20% into Polkadot and 20% Cardano. Analysts are predicting a $190,000 dollar Bitcoin by the end of 2023, which would be beautiful, but not as beautiful as making over 100x on an alt. We're talking fairy tale type gains:cool:And I feel that Ethereum is probably the safest alt you can buy.

It has been a great 2 years, looking forward to 2023:thumbsup:
 
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