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Will Bitcoin Fall Another 50%?!?

AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
edited May 2022 in Tug Tavern
https://www.youtube.com/watch?v=fu5VuizXi28
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  • BleachedAnusDawgBleachedAnusDawg Member Posts: 11,985
    Appears that it will. I thought crypto was supposed to be decoupled from the stock market? It seems like it's just stock in another form.

    https://fortune.com/2022/05/09/bitcoins-price-half-down-from-peak-crypto-plunge-continues/
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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    BleachedAnusDawg said:

    Appears that it will. I thought crypto was supposed to be decoupled from the stock market? It seems like it's just stock in another form.

    https://fortune.com/2022/05/09/bitcoins-price-half-down-from-peak-crypto-plunge-continues/

    People who I follow online and trust think BTC will sink to $25k or so. I feel sympathy for people who are losing money and freaking out but I'm actually a bit excited about the buying opportunity.

    The on-chain metrics are showing that the hodlers are slowly overtaking the traders who buy and sell on volatility, in terms of available Bitcoin. It is going to take sometime for further adoption and the institutional money is waiting for more regulation so they know better the ramifications. But despite the crashing going on I feel okay and patient.
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  • CuntWaffleCuntWaffle Member Posts: 22,499
    edited May 2022
    Bitcoin Maxis: "Bitcoin is the ultimate inflation hedge and doesn't follow traditional big money! its YOUR money!!!"

    *Bitcoing goes down*

    Bitcoin Maxis: "It's going down because of inflation!!! Also the stock market is down as well!!11!"

    All jokes aside I also hopes it keeps plummeting, it is a great time to load up.
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  • sonics1993sonics1993 Member Posts: 1,460
    edited May 2022
    I tried to warn all of you. 23K is coming at some point
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  • BleachedAnusDawgBleachedAnusDawg Member Posts: 11,985
    Ouch. https://www.spectator.co.uk/article/crypto-is-dead

    So cryptocurrencies are no longer making anyone rapid fortunes, are no longer protecting against inflation, and governments are working out how to find them. What exactly is the attraction? They are clearly little more than a pyramid scheme: machines for redistributing wealth from players who are late into the gold rush to those who were early. And like all other pyramid schemes, they have a brief and finite life. Many of these new get-rich-quick schemes – like NFTs – have already come and gone.
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  • CougzzCougzz Member, Swaye's Wigwam Posts: 295 Swaye's Wigwam
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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    sonics1993 said:

    I tried to warn all of you. 23K is coming at some point

    I haven't moved
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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off
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  • FireCohenFireCohen Member Posts: 21,823
    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Been hitting the pipe pretty hard huh lol
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  • CuntWaffleCuntWaffle Member Posts: 22,499
    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    It's more like Bitcoin is down the shitter like EVERYTHING else and isn't this complete independent asset like all the moon boys preach.
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  • greenbloodgreenblood Member Posts: 14,521
    edited May 2022
    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Volume as a lot to do with it. Bitcoin volume has been at the lowest levels in a while. Just today a YouTuber showed that just one single $500k sale of Bitcoin dropped the Bitcoin price by $40. You don’t have the buying pressure to keep the price inflated. It’s going to be a rough year.

    I got also into some Bio stocks at the wrong time and taking a 60% hit this year to my portfolio. But I’m going to hold, I don’t have a choice. Will probably add to try and lower my averages.
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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    CuntWaffle said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    It's more like Bitcoin is down the shitter like EVERYTHING else and isn't this complete independent asset like all the moon boys preach.
    It will be independent when its viewed as such. That's going to take education and time.
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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    greenblood said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Volume as a lot to do with it. Bitcoin volume has been at the lowest levels in a while. Just today a YouTuber showed that just one single $500k sale of Bitcoin dropped the Bitcoin price by $40. You don’t have the buying pressure to keep the price inflated. It’s going to be a rough year.

    I got also into some Bio stocks at the wrong time and taking a 60% hit this year to my portfolio. But I’m going to hold, I don’t have a choice. Will probably add to try and lower my averages.
    Bitcoin lost its sexiness a few month ago. It doesn't mean that it lacks intrinsic value. Yes it's going to be a very rough year and will take awhile. But I retain my belief. My long term concern is government taxing the hell out of it and trying to fuck with it.
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  • BleachedAnusDawgBleachedAnusDawg Member Posts: 11,985
    greenblood said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Volume as a lot to do with it. Bitcoin volume has been at the lowest levels in a while. Just today a YouTuber showed that just one single $500k sale of Bitcoin dropped the Bitcoin price by $40. You don’t have the buying pressure to keep the price inflated. It’s going to be a rough year.

    I got also into some Bio stocks at the wrong time and taking a 60% hit this year to my portfolio. But I’m going to hold, I don’t have a choice. Will probably add to try and lower my averages.
    You got a link to that video about volume?
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  • greenbloodgreenblood Member Posts: 14,521
    BleachedAnusDawg said:

    greenblood said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Volume as a lot to do with it. Bitcoin volume has been at the lowest levels in a while. Just today a YouTuber showed that just one single $500k sale of Bitcoin dropped the Bitcoin price by $40. You don’t have the buying pressure to keep the price inflated. It’s going to be a rough year.

    I got also into some Bio stocks at the wrong time and taking a 60% hit this year to my portfolio. But I’m going to hold, I don’t have a choice. Will probably add to try and lower my averages.
    You got a link to that video about volume?
    Let me look
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  • greenbloodgreenblood Member Posts: 14,521
    edited May 2022
    BleachedAnusDawg said:

    greenblood said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    Volume as a lot to do with it. Bitcoin volume has been at the lowest levels in a while. Just today a YouTuber showed that just one single $500k sale of Bitcoin dropped the Bitcoin price by $40. You don’t have the buying pressure to keep the price inflated. It’s going to be a rough year.

    I got also into some Bio stocks at the wrong time and taking a 60% hit this year to my portfolio. But I’m going to hold, I don’t have a choice. Will probably add to try and lower my averages.
    You got a link to that video about volume?
    He mentioned it on this live stream. Sorry I was listening in the background while at work so I don’t know where in the video it is. But it’s there.

    https://m.youtube.com/watch?v=p9Ajn7H8Vl0
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  • CuntWaffleCuntWaffle Member Posts: 22,499
    DerekJohnson said:

    CuntWaffle said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    It's more like Bitcoin is down the shitter like EVERYTHING else and isn't this complete independent asset like all the moon boys preach.
    It will be independent when its viewed as such. That's going to take education and time.
    Huh? Bitcoin and crypto has been moving closer and closer and closer to correlating with the stock market ever since big money has been getting into it. That’s not going anywhere, this is what it is now.
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  • PurpleThrobberPurpleThrobber Member Posts: 44,850 Standard Supporter
    The Throbber has pushed all in on tulip futures.

    Gonna be rich, bitch.

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  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,571 Founders Club
    CuntWaffle said:

    DerekJohnson said:

    CuntWaffle said:

    DerekJohnson said:

    This might be tinfoil hat time for me... But if the Fed is raising interest rates in order to create the current bloodbath in the asset marketplace and force liquidations, then they step in and buy billions of dollars of Bitcoin, I wonder if that is somehow the plan? I'm probably way off

    It's more like Bitcoin is down the shitter like EVERYTHING else and isn't this complete independent asset like all the moon boys preach.
    It will be independent when its viewed as such. That's going to take education and time.
    Huh? Bitcoin and crypto has been moving closer and closer and closer to correlating with the stock market ever since big money has been getting into it. That’s not going anywhere, this is what it is now.
    So? You haven't refuted what I said. There are 17,000 cryptocurrencies that are securities and there is 1 (Bitcoin) that is decentralized property.

    Like I said, when people recognize the difference, which will take education and time, then the capital will move en masse into Bitcoin.
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