Why Bitcoin is Plunging (This Time)

[ajacobson]

https://www.wired.com/story/why-bit... NL 112518 (1)&utm_medium=email&utm_source=nl

 

[Pekelo]

It is plunging because:

1. Giant ascending triangle on the daily chart since December, with 5 lower highs.
2. Magic internet money that is copyable and splitable shouldn't be more than double digits...

 

[VincentvanG]

Bitcoin has no fundamentals. It's fool's gold.

 

[S2007S]

Remember last year everyone thought it was going to $50,000 and even $100,000

Yep.

 

[zdreg]

it sounds like a dead cat bounce is coming in the near future.

 

[Pekelo]

Bitcoin has no fundamentals.

I assume by fundamentals you mean utility value. And you are wrong. It is perfect for black mailing for example. That doesn't mean its value should be in the 4 digits.

 

[zdreg]

black mailing

re: blackmailing
there must be an app to counter.

 

[nooby_mcnoob]

The value of Bitcoin is proportional to the cost of energy required to mine the next coin... assuming anyone gives a shit lol

 

[RedDuke]

here is another one. Federal agencies opened investigation into USDT, that was created out of thin air to prop up Bitcoin price.

 

[gkishot]

Remember last year everyone thought it was going to $50,000 and even $100,000

Yep.

It will, even not this year.