Why Bitcoin is Plunging (This Time)

MarkBrown said:
bitcoin is solid you have to look where it came from at the start not from the high. when you consider that it's kicking the ass of world currencies.
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I don't get that sense looking at BTC versus the Dollar Index for 2018.
 
Specterx said:
Even if one of these cyptocurrencies does become wildly successful in the future, it definitely won't be the original BTC. BTC is too slow and inefficient, and manages to be ludicrously insecure to use and store (one guy in the news lost $1 million to a low-grade phone hack, there are countless similar stories) while at the same time offering close to zero privacy - anyone with an Internet connection and your wallet address (which must be given out to effect transactions) can see your account balance as well as your entire transaction history. It's purely a speculative football.
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Is your trading basedd on information like this?
 
Love IT!
Bitcoin is dead. Why? It's 'only' at $4000 - I mean, wtf?
Name any other ticker with that kind of increase. So what if it's down 80% from the mania highs? It'll hit bottom, grind around, then start moving up more slowly. Might drop to $1k - oh, geez - starting from less than a penny, still pretty a strong long-term showing.
It's dropped 80% before, so 'rumors of death are premature.'

Still - I'm more bullish on ETH long-term. Real functionality, massive programming effort, legitimacy, most usage, highest profile, etc. And it's got Vitalik.
 
misterkel said:
Love IT!
Bitcoin is dead. Why? It's 'only' at $4000 - I mean, wtf?
Name any other ticker with that kind of increase. So what if it's down 80% from the mania highs? It'll hit bottom, grind around, then start moving up more slowly. Might drop to $1k - oh, geez - starting from less than a penny, still pretty a strong long-term showing.
It's dropped 80% before, so 'rumors of death are premature.'

Still - I'm more bullish on ETH long-term. Real functionality, massive programming effort, legitimacy, most usage, highest profile, etc. And it's got Vitalik.
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This is not the most severe of the bitcoin pops so far (in terms of % drop not cap). I doubt we'll see similar recovery w/the amount of regulation happening and wallstreet shorters jumping into the fray now though.
https://news.bitcoin.com/look-bitcoin-bubble-will-next-one/
 
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