Could well be entering max pain for FOMOs if any of them are still holding BTC, 10-12k is next once 18k fails, are we gonna get the usual flush out to the bottom?
Bitcoin Price Thread
- Thread starter Magna
- Start date
Could well be entering max pain for FOMOs if any of them are still holding BTC, 10-12k is next once 18k fails, are we gonna get the usual flush out to the bottom?
Yep, I wouldn't rule out it ending up as an 85% drawdown.
https://bitcoincharts.com/charts/bitstampUSD#ig2-hourzczsg2021-11-09ztgCzm1g200zm2g25zp
https://bitcoincharts.com/charts/bitstampUSD#ig2-hourzczsg2021-11-09ztgCzm1g200zm2g25zp
Credit to Zuckerberg for seeing the future and completely switching Facebook to the Metaverse
Ultimately, META will fail as it's going against the crypto assets revolution
META will go under $100 within a year, imo
I find satisfaction that you are a buyer of META and keeps adding. I hope that you continue to add as it keeps going lower
You are lost and confused. You don't understand Bitcoin and you do not understand crypto assets ecosystem and Web3
I may not understand it, yet for some unknown reason my top call for BTC still seems to be in play.
That is false and you know it
Look at your thread "Bitcoin has topped" when BTC crashed last year you were pumping your chest, but completely disappeared later in the year as Bitcoin made all time high of over $69K
You like to make a lot of top calls on BTC
I remember you disappeared when you called Bitcoin was going to crash at $40K last year and I replied to you as it was practically the bottom of that period and BTC shot up over $50K
So now, you want to take credit on BTC top call when we entered crypto winter at the beginning of the year?
Hey, have fun. You obviously did not make a single cent shorting BTC since you would have been broke last year
Keep buying META, dude. Put all your lifesavings. It's a value stock and low pe. Good luck
Stop being mean, I made the top call and you ridiculed it all the way, I don’t know what else you are talking about here, you tend to have this ability to not be able to ever STFU
Clearly, you are sitting on some major drawdown, hence the negative mood you exhibit. I feel for you. I didn’t make any money shorting BTC, never said I did. Thank you for the well wishing on META, even though I sense a strong level of sarcasm.Stop being mean, I made the top call and you ridiculed it all the way, I don’t know what else you are talking about here, you tend to have this ability to not be able to ever STFU
Why would you want me to STFU?
Did I get under your skin?
I'm in good spirits nowadays even during this crypto winter
Nah, dude, I've found a hobby during this bear market trading perp futures 20x leverage long and short on crypto assets
And I might have found a 1000% crypto asset play yesterday, loaded up thousands of ETHW at $5 and $4, was gonna completely go nuts on it at $1-2 if the price went that low, but it's bounced back to $6 currently, bittersweet
Keep buying META, dude. Go on margin, please
The well wish was genuine, not sarcasm. I meant good luck as you become financially ruined
I know what it's like and personally not afraid if I become financially-challenged again but it's not something I prefer
You are the man! Not jumping in yet, but I've come to learn that you are the guy to follow. I went looking for where I could buy this. Didn't see it listed on KuCoin, but FTX does have it. They give a nice little pop-up here, which is welcome, and then the price action for just the past few days that it's been trading.
It certainly is a lottery ticket. I'm not sure where the bottom could be, that is the only issue. I bought some Luna when it hit 20 cents, hoping for a lottery ticket, and then it of course continued to drop to less than a penny... LOL Is there a reason why you decided to start loading up at $4-5?
Brian Quarmby 4 hours ago
https://cointelegraph.com/news/fed-...-batter-btc-eth-prices-says-bloomberg-analyst
‘FED sledgehammer’ will further batter BTC, ETH prices — Bloomberg analyst
With the Merge resulting in a “buy the rumor, sell the news event,” Mike McGlone thinks that ETH might drop to “$1,000, or even get a bit lower” given how hawkish the Fed has been.
The United States Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone.
Ahead of the latest Fed interest rate hike to be announced this week, the market is expecting a minimum of a 75-basis-point increase, however some fear it could be as high as 100 basis points, which would represent the biggest rate hike in 40 years.
Speaking with financial news outlet Kitco News on Saturday, McGlone, senior commodity strategist of Bloomberg Intelligence, suggested that further market carnage is on the cards for BTC, ETH and the broader crypto sector as Fed’s actions will continue to dampen investor sentiment:
“We have to turn over to the macro big picture and what’s been pressuring cryptos this year and that is the Fed sledgehammer.”
The price of BTC has dropped 13.4% over the past seven days to sit at roughly $19,350 at the time of writing, while ETH has plunged a hefty 20.7% within that timeframe to around $1,350.
ETH’s 20% drop in particular has been a cause of discussion, as the price of the asset has tanked since the highly anticipated and long awaited Merge went through on Sept. 15.
With the major network upgrade essentially resulting in a “buy the rumor, sell the news event,” moving forward McGlone thinks that ETH might drop to “$1,000, or even get a bit lower,” given how hawkish the Fed has been and will continue to be this year.
“I’m afraid [The Merge] got too hyped,” said McGlone, adding that ETH’s price decline is “within a significant macroeconomic broad-based bear market for all risk assets.”
During the interview, McGlone even went as far as to predict that the latest rate hike could cause a crash across assets that is worse than the 2008 housing bubble meltdown:
“I think it’s going to be worse than the 2008 correction, worse than the Great Financial Crisis.”
“The Fed started easing in 2007, and then they added massive liquidity. They cannot do that anymore,” he added.
There is of course a pinch of hopium, however, as McGlone also tipped BTC to strongly rebound and hit a new all time high of $100,000 by 2025, while he is very bullish on ETH long-term due to future potential for institutional adoption.
Looking elsewhere, other analysts and experts have shared a similar amount of short-term pessimism to McGlone. Speaking to the New York Times on Monday, Kristina Hooper, the chief global market strategist at Invesco, noted the latest Fed announcement will be pivotal because of “what it could mean for the direction of the stock market for the rest of the year.”
“The Fed has been the key driver of the stock market this year, and it has been mostly bad,” she said.
While Ark Invest CEO Cathie Wood also added to her warning from last week that the Fed’s continued hikes could instead end up causing deflation, stating in a Sunday tweet that the “Fed is solving supply chain issues by crushing demand and, in my view, unleashing deflation, setting it up for a major pivot.”
https://cointelegraph.com/news/fed-...-batter-btc-eth-prices-says-bloomberg-analyst
‘FED sledgehammer’ will further batter BTC, ETH prices — Bloomberg analyst
With the Merge resulting in a “buy the rumor, sell the news event,” Mike McGlone thinks that ETH might drop to “$1,000, or even get a bit lower” given how hawkish the Fed has been.
The United States Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone.
Ahead of the latest Fed interest rate hike to be announced this week, the market is expecting a minimum of a 75-basis-point increase, however some fear it could be as high as 100 basis points, which would represent the biggest rate hike in 40 years.
Speaking with financial news outlet Kitco News on Saturday, McGlone, senior commodity strategist of Bloomberg Intelligence, suggested that further market carnage is on the cards for BTC, ETH and the broader crypto sector as Fed’s actions will continue to dampen investor sentiment:
“We have to turn over to the macro big picture and what’s been pressuring cryptos this year and that is the Fed sledgehammer.”
The price of BTC has dropped 13.4% over the past seven days to sit at roughly $19,350 at the time of writing, while ETH has plunged a hefty 20.7% within that timeframe to around $1,350.
ETH’s 20% drop in particular has been a cause of discussion, as the price of the asset has tanked since the highly anticipated and long awaited Merge went through on Sept. 15.
With the major network upgrade essentially resulting in a “buy the rumor, sell the news event,” moving forward McGlone thinks that ETH might drop to “$1,000, or even get a bit lower,” given how hawkish the Fed has been and will continue to be this year.
“I’m afraid [The Merge] got too hyped,” said McGlone, adding that ETH’s price decline is “within a significant macroeconomic broad-based bear market for all risk assets.”
During the interview, McGlone even went as far as to predict that the latest rate hike could cause a crash across assets that is worse than the 2008 housing bubble meltdown:
“I think it’s going to be worse than the 2008 correction, worse than the Great Financial Crisis.”
“The Fed started easing in 2007, and then they added massive liquidity. They cannot do that anymore,” he added.
There is of course a pinch of hopium, however, as McGlone also tipped BTC to strongly rebound and hit a new all time high of $100,000 by 2025, while he is very bullish on ETH long-term due to future potential for institutional adoption.
Looking elsewhere, other analysts and experts have shared a similar amount of short-term pessimism to McGlone. Speaking to the New York Times on Monday, Kristina Hooper, the chief global market strategist at Invesco, noted the latest Fed announcement will be pivotal because of “what it could mean for the direction of the stock market for the rest of the year.”
“The Fed has been the key driver of the stock market this year, and it has been mostly bad,” she said.
While Ark Invest CEO Cathie Wood also added to her warning from last week that the Fed’s continued hikes could instead end up causing deflation, stating in a Sunday tweet that the “Fed is solving supply chain issues by crushing demand and, in my view, unleashing deflation, setting it up for a major pivot.”