Was looking at this classic graph depicting stages of a bubble today:




Then comparing it to bitcoin market cap over the last 12 months. The similarities are pretty scary.





Personally i've been getting all my ducks in order for a quick exit, avoiding USDT where possible.

It's sure taking a beating the last few days.

I hope Zypder didn't buy in at the ATH.

Where's the bottom going to be Will?

As soon as I posted it added $1000 lol. I _CREATE_ the bottom.

I be a lot of people got burned badly, was obviously going to happen sooner or later. As I have said, Bitcoin is too volatile for a currency. There are also a lot of new block chain commodities being created by con artists simply to try to cheat people out of their money.

Block chain still has a long way to go before it can replace the dollar or euro.

http://www.bbc.co.uk/news/business-42457983

How low is it likely to go? Good time to jump on?

Quote from: Sam on December 22, 2017, 07:21:20 AM
I hope Zypder didn't buy in at the ATH.

Where's the bottom going to be Will?

Don't like to call an absolute bottom really. There are several potential bottoms. But a "return to norm" would yield $3000 in 6 months time.

Drop to $3k ?

In theory it could drop below $5K, possibly as low as 3. It depends on the buyers and their loss of belief in Bitcoin.

A lot of the problem was caused through 'investment' companies, some would claim rip off merchants, encouraging people to get involved with something they did not understand.

3 / 5 of my las uber drivers have asked me about bitcoin.

Snapchat has adverts by buzzfeed recommending putting $50 into bitcoin using coinbase.

USDT looks increasingly like a scam that will crash with bitcoin and there's a lot of margin trading driving the price up.

I'm out of everything except NEO and Eth for now and what I have in there i'm willing to lose.

I think cryptos are fantastic but I think all corporates are going to setup and use their own proprietary ones. There's no upside in using one they cant control. The oil companies have setup a group to establish a token for commodity trading, the banks have been doing something similar for a while.

I cant see why any of the current coins will maintain much long term value.

Quote from: Sam on December 23, 2017, 00:25:37 AM
Drop to $3k ?

Yes, there is a possibility based on TA. It only takes BTC to enter a proper bear trend like it did in 2014. It might just take a bit of fuel to burn the house down.

Quote from: Sam on December 22, 2017, 07:21:20 AM
I hope Zypder didn't buy in at the ATH.

Where's the bottom going to be Will?

I'm still waiting for my exchange account to be verified so I'm safe haha.

Exmo Bitcoin exchange manager Pavel Lerner kidnapped in Kiev

http://www.bbc.co.uk/news/business-42505261

Apparently... "Despite the situation the exchange is working as usual. We also want to stress that nature of Pavel's job at Exmo doesn't assume access either to storages or any personal data of users. All users' funds are absolutely safe."

<presses 'panic now!' button>     

Quote from: addictweb on December 21, 2017, 14:29:39 PM
Was looking at this classic graph depicting stages of a bubble today:

(Image removed from quote.)


Then comparing it to bitcoin market cap over the last 12 months. The similarities are pretty scary.

(Image removed from quote.)



Personally i've been getting all my ducks in order for a quick exit, avoiding USDT where possible.

The bull trap happened, looks like Fear is about to come.

When is the fear going to come on Ether lol

That thing's gone mental.