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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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PetePreneur

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Depends on your timeframe.

$240k tomorrow? No lol
$240k within 5 years? Absolutely

We are just getting started.
Oh yeah, I can get on board that we’ll reach $240k in 5 years or more. I just think we’ll crash again soon before going on those bull runs.
 

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csalvato

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Oh yeah, I can get on board that we’ll reach $240k in 5 years or more. I just think we’ll crash again soon before going on those bull runs.
I said within 5 years...as in within 6 months to 5 years from now, to be more explicit.

You don't know much about this market or the tech (as indicated by your poor summary of the guy who just "lost" $220M of BTC that was also a Ripple founder), so maybe your opinion isn't as...worthwhile?... in this domain.
 

James Fake

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Do you not feel we’re too far into the mania phase to reach such crazy heights as $240k though?

I’m still working while running my business and everyone was talking about Bitcoin today at work. There’s been a story broadcasted on BBC here in the UK how some guy has lost something like $250 million because he threw his old laptop out before it blew up or something? Haha.

IMO everything is too hyped up for it to keep rising much more, which I know sounds counterintuitive, but if you subscribe to the saying “Be fearful when others are greedy and greedy when others are fearful”, it makes more sense!

Short answer, no. I believe we have just entered the mania phase, we are just now in a blend of Optimism and Belief.

Curious: What exactly were they saying about Bitcoin?

Because since around that day and about 2 days earlier; Bitcoin did an almost 28% sharp intense pullback.. Usually in those cases, most talk about Bitcoin from casual people is usually in more negative/challenging aspect.

Meaning... imo; discussions around then would typically be about the 'validity of Bitcoin' still and if it is the real deal this time around (is this last Bitcoin surge real? will it sustain and keep going up)? Challenging the 'Belief' and their 'Optimism' per say.

Optimism: "Is this thing the real deal? Will it survive that crazy pullback" "its probably the top, cause no way this thing is real this time" "could it be? I mean it is printing a higher low and its been doing it since before breaking its all time high again"

Belief: "It is. I am putting my money in it" "I'm ignoring all dips and holding thru because the price will be right back in a few days/weeks. full bull baby"


Somehow I doubt casual people would be talking about "Bitcoin is the real deal" type talk during the bottom of a 28% sharp drop and saying "I'm putting my money in it".... there's a weird thing people do, and that's they usually sell at the bottoms, not buy.

Were any of these people showing your their phones of their gains of Bitcoin since $10k? I know of very few people that actually bought $10k Bitcoin, most people weren't convinced and scared.. I preached $10k buy over and over and over again to everybody I knew, and only like 1-2 people said they actually bought.. That was the Hope stage. Rarely do people buy at the Hope stage, and especially not ones that experienced 2017-2018.. the PTSD alone would make them sit it out.

Lots of gas left in this tank...
 
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Timmy C

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Short answer, no. I believe we have just entered the mania phase, we are just now in a blend of Optimism and Belief.

Curious: What exactly were they saying about Bitcoin?

Because since around that day and about 2 days earlier; Bitcoin did an almost 28% sharp intense pullback.. Usually in those cases, most talk about Bitcoin from casual people is usually in more negative/challenging aspect.

Meaning... imo; discussions around then would typically be about the 'validity of Bitcoin' still and if it is the real deal this time around (is this last Bitcoin surge real? will it sustain and keep going up)? Challenging the 'Belief' and their 'Optimism' per say.

Optimism: "Is this thing the real deal? Will it survive that crazy pullback" "its probably the top, cause no way this thing is real this time" "could it be? I mean it is printing a higher low and its been doing it since before breaking its all time high again"

Belief: "It is. I am putting my money in it" "I'm ignoring all dips and holding thru because the price will be right back in a few days/weeks. full bull baby"


Somehow I doubt casual people would be talking about "Bitcoin is the real deal" type talk during the bottom of a 28% sharp drop and saying "I'm putting my money in it".... there's a weird thing people do, and that's they usually sell at the bottoms, not buy.

Were any of these people showing your their phones of their gains of Bitcoin since $10k? I know of very few people that actually bought $10k Bitcoin, most people weren't convinced and scared.. I preached $10k buy over and over and over again to everybody I knew, and only like 1-2 people said they actually bought.. That was the Hope stage. Rarely do people buy at the Hope stage, and especially not ones that experienced 2017-2018.. the PTSD alone would make them sit it out.

Lots of gas left in this tank...


I bet most of us got in at $10,000 or lower, I know I certainly did.
 

James Fake

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I bet most of us got in at $10,000 or lower, I know I certainly did.

Yep yep. That $10k price even leading up to $20 is mainly compromised of only the people that were in the crypto space or constantly keeping up as we knew the inevitable direction it was headed towards as the stars started lining up. If you weren't seeing the stars lining up, then from the outside looking in, its hard to justify the $10k price other than it was a pure gamble and probably didn't buy in.
 

PetePreneur

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I said within 5 years...as in within 6 months to 5 years from now, to be more explicit.

You don't know much about this market or the tech (as indicated by your poor summary of the guy who just "lost" $220M of BTC that was also a Ripple founder), so maybe your opinion isn't as...worthwhile?... in this domain.
Nice try, it was actually this article I was talking about though: Bitcoin: Newport man's plea to find £210m hard drive in tip

Have fun losing all your gains.
 

AceVentures

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Nice try, it was actually this article I was talking about though: Bitcoin: Newport man's plea to find £210m hard drive in tip

Have fun losing all your gains.

If I remember right you sold out of all your coins and got back your initial investment that you'd put in at the 2017 ATH.

Good for you.

For some of us that have skin in the game - we're not simply trying to recover losses on bad investment decisions or make a quick buck.

I couldn't care less about daily fluctuations. If you shit bricks because you see volatility, this is not your game to play. And you rightfully so bowed out.

Don't come back around now to shit on people that don't share your beliefs.
 

PetePreneur

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Short answer, no. I believe we have just entered the mania phase, we are just now in a blend of Optimism and Belief.

Curious: What exactly were they saying about Bitcoin?

Because since around that day and about 2 days earlier; Bitcoin did an almost 28% sharp intense pullback.. Usually in those cases, most talk about Bitcoin from casual people is usually in more negative/challenging aspect.

Meaning... imo; discussions around then would typically be about the 'validity of Bitcoin' still and if it is the real deal this time around (is this last Bitcoin surge real? will it sustain and keep going up)? Challenging the 'Belief' and their 'Optimism' per say.

Optimism: "Is this thing the real deal? Will it survive that crazy pullback" "its probably the top, cause no way this thing is real this time" "could it be? I mean it is printing a higher low and its been doing it since before breaking its all time high again"

Belief: "It is. I am putting my money in it" "I'm ignoring all dips and holding thru because the price will be right back in a few days/weeks. full bull baby"


Somehow I doubt casual people would be talking about "Bitcoin is the real deal" type talk during the bottom of a 28% sharp drop and saying "I'm putting my money in it".... there's a weird thing people do, and that's they usually sell at the bottoms, not buy.

Were any of these people showing your their phones of their gains of Bitcoin since $10k? I know of very few people that actually bought $10k Bitcoin, most people weren't convinced and scared.. I preached $10k buy over and over and over again to everybody I knew, and only like 1-2 people said they actually bought.. That was the Hope stage. Rarely do people buy at the Hope stage, and especially not ones that experienced 2017-2018.. the PTSD alone would make them sit it out.

Lots of gas left in this tank...
Yeah, it is sometimes difficult to interpret where we are in the cycle. Like if you look at this chart below, you could interpret what’s going on as us getting media attention and therefore close to breaking out, whereas I think we’re in the bull trap.


The reasons I think we’re in the bull trap is because I’ve been tracking where all the crypto apps such as CoinBase, Binance and Crypto.com have been in the top charts and CoinBase got as high as number 18, which indicates lots of public investment, which was followed by Bitcoin doubling up.

You can also use data point of Bitcoin being at $1,000 before the bull run in 2017, before getting to $20k about a year later, which is a 2000% increase. We’ve gone from about $5k 10 months ago to I think about $42k, which is around an 850% increase. So to go from $5k to $240k, you’re looking at more like 5000%, which seems unlikely to me seeing as usually as things become worth more they don’t increase as rapidly in % terms.

I was only rude to that other guy because he was rude to me first BTW. I don’t know for certain if this is the top. Nobody does.
 

PetePreneur

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If I remember right you sold out of all your coins and got back your initial investment that you'd put in at the 2017 ATH.

Good for you.

For some of us that have skin in the game - we're not simply trying to recover losses on bad investment decisions or make a quick buck.

I couldn't care less about daily fluctuations. If you shit bricks because you see volatility, this is not your game to play. And you rightfully so bowed out.

Don't come back around now to shit on people that don't share your beliefs.
Thanks, he was rude to me first though. I was only looking for a discussion. I’m obviously going to react badly to what he said.
 
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csalvato

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Nice try, it was actually this article I was talking about though: Bitcoin: Newport man's plea to find £210m hard drive in tip

Have fun losing all your gains.

So you totally misrepresented an article and event that was created to cause more FUD, thereby causing more FUD on this forum, and misconstrue my words to fit your own broken narrative, then expect people not to get their back up?
Why, because you think it’s funny? OK

I’m glad you made gains after you were patient and bought at the top in 2017 and had to ride it out in a 2 year bear market.

Good for you.

It also seems like you took those 3 years and wasted them by not educating yourself, and trading swings just to make a quick buck.

I know a lot of people who got into crypto as traders to make a quick buck and after 1-2 years leaned the tech and are very knowledgeable. This is a good path. This is not the one you took, though.

Excuse me if I don’t respect posts that are creating FUD needlessly and twisting my words. This is clearly not something you spend a lot of time thinking about, like several of us here (bulls and bears alike)

So, since you’re clearly not informed, why should anyone here listen to your opinion? My post is to make it clear that it’s not believable.

Sorry if you take that personally. It's not.

For example, who would you rather take real estate advice from? biophase, SteveO, Envision, and JScott? Or someone with a limited track record of success who barely eeked out a profit on a single family home they purchased 5 years ago?

A casual bystander has no idea which you are.

And, as for my gains, I never bought at a top. I’ve been up over 100% consistently, even as I bought more over the years. Why? Because I’m informed
 

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Timmy C

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PetePreneur

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So you totally misrepresented an article and event that was created to cause more FUD, thereby causing more FUD on this forum, and misconstrue my words to fit your own broken narrative, then expect people not to get their back up?
Why, because you think it’s funny? OK

I’m glad you made gains after you were patient and bought at the top in 2017 and had to ride it out in a 2 year bear market.

Good for you.

It also seems like you took those 3 years and wasted them by not educating yourself, and trading swings just to make a quick buck.

I know a lot of people who got into crypto as traders to make a quick buck and after 1-2 years leaned the tech and are very knowledgeable. This is a good path. This is not the one you took, though.

Excuse me if I don’t respect posts that are creating FUD needlessly and twisting my words. This is clearly not something you spend a lot of time thinking about, like several of us here (bulls and bears alike)

So, since you’re clearly not informed, why should anyone here listen to your opinion? My post is to make it clear that it’s not believable.

Sorry if you take that personally. It's not.

For example, who would you rather take real estate advice from? biophase, SteveO, Envision, and JScott? Or someone with a limited track record of success who barely eeked out a profit on a single family home they purchased 5 years ago?

A casual bystander has no idea which you are.

And, as for my gains, I never bought at a top. I’ve been up over 100% consistently, even as I bought more over the years. Why? Because I’m informed

No one cares what you have to say as you have added ZERO value to this thread other than being a jackass.

Enjoy being on block forever.

Have a good life.
Yeah, let’s just agree to disagree and see how all this play out- and that isn’t meant in a condescending way. Let’s genuinely just see what happens!
 

Musashi

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The fraud and its massive impact on bitcoin is there black on white.

Can you still call this fud if it that’s visible?

It might be time to sell.
 

Timmy C

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The fraud and its massive impact on bitcoin is there black on white.

Can you still call this fud if it that’s visible?

It might be time to sell.

FUD.

I would respond with the classic bitcoiner response:

Have fun staying poor.
 

Timmy C

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The fraud and its massive impact on bitcoin is there black on white.

Can you still call this fud if it that’s visible?

It might be time to sell.
All jokes aside.

I don't care about Tether.

Bitcoin is a long term investment for me.
 

Timmy C

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- MtGox coins
- Tether
- Regulation
- Bitcoin can go to 0
- China
- Korea

And yet we're still at $36K

No one will ever talk me out of selling bitcoin.

Ever.
 

Timmy C

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If the fudsters are so sure of Tether.

You are free to short and make a boatload of money.

I've put my skin in the game.

You are free to short it.
 

Musashi

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All jokes aside.

I don't care about Tether.

Bitcoin is a long term investment for me.

Yeah, you said that before.

But a simple “I don’t care” does sound a bit like covering your eyes just because you don’t want it to be true.

I strongly believe in Bitcoin too and always saw it as a long term investment too. But the numbers and correlations between BTC and Tether are worrisome.
 

Musashi

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- MtGox coins
- Tether
- Regulation
- Bitcoin can go to 0
- China
- Korea
- MtGox coins
- Tether
- Regulation
- Bitcoin can go to 0
- China
- Korea

And yet we're still at $36K

No one will ever talk me out of selling bitcoin.

Ever.
Nonee of these incidents could have resulted in people losing trust in bitcoin.

The Tether scam would do that.
 

James Fake

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I'm buying more on this dip right now at $35,000 and preparing for a possible shot to $66,000. Just Bitcoin; I don't expect alt season just quite yet... after the first hard sell which hasn't happened yet until we peak on the next cycle.
 

Kevin88660

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Oh yeah, I can get on board that we’ll reach $240k in 5 years or more. I just think we’ll crash again soon before going on those bull runs.
Im longing alt coins and having small shorts positions of btc at near 40k price level.

I think btc is around the top for this cycle and some alt still have room to go to gain 3-4x.

There are a lot early adopters of defi and people who have made serious money in alt fron 2019-2020 still hoping for a 10-20x return on their existing portfolio. I find it ridiculously unrealistic.

The people who got burnt in 2018, most are not coming back and happily playing ev stocks like tesla. Most crypto savy investors don’t understand how retails think despite hoping retails will happily buy their bags at 10x. Why play crypto assets when it is in bear market 80 percent of the time before it gets pumped? Why not play stocks when it is hyped 80 percent of the time and had a crash only 20 percent of the time. That’s how retail think. People flock to the strongest asset class.

The crypto millionaires who got greedy and hoping for a replay of 2017 bull market will find themselves disappointed and had their gain wiped out this time. There will be some limited retail dumb money pushing it higher but it will be very limited amount of money compared to 2017. This will end when those savy investors realise they have to compete against one another to get out.
 

Timmy C

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I'm buying more on this dip right now at $35,000 and preparing for a possible shot to $66,000. Just Bitcoin; I don't expect alt season just quite yet... after the first hard sell which hasn't happened yet until we peak on the next cycle.


Not a bad entry mate.
 

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