I have the feeling that the bitcoin value is collasping

[anotherone]

I think it is time to be careful. Maybe it is related to the coronavirus. I don't understand what is going on. Some people say that it is a normal trend. I don't believe it.

 

[JohnLocke]

I don't have this feeling and I don't believe this to be a collapse if you look at the entire picture and all markets, stock, gold, etf's and crypto everything is RED because of COVI-19 !

But let's see who is going to predict the truth

 

[iNomad]

This is just a great buying opportunity, nothing more.

Same goes for Crypto.com coin, and many others.

Buy when the market is red, I see this as an opportunity, will bounce back over 10k within 6 months.

 

[Spinat]

I totally agree, as you may see it is already on the way UP again! https://coinmarketcap.com/currencies/bitcoin/

 

[iNomad]

I still don't understand this panic, it just shows how dependent we all are on China.

This is the only reason, as soon as they mentioned on Bloomberg that couple companies in Shenzhen are operating again the whole market started to recover.

Just crazy, but thanks to COVID this is a massive buying opportunity now.

Also, its FRIDAY, this will be a small pump today and back to rock bottom again, WHO has the guts to go LONG on this Friday.

I think we could see a bit drop over the weekend, so unsure about my entry position here.

I still feel the 4000$ rate we had 12h ago is the real entry price and we could see the 4k price again on today market closure, or during weekend.

We will see.

 

[Martin Everson]

Bitcoin is down 50% in one month.....lol. Where are all the pumpers that claimed bitcoin is a safe haven in a financial collapse or crisis? They said people will flock to bitcoin and the price will go through the roof. Well we are suffering a global financial crisis and economic ruin for some industries such as airline and shale with flights cancelled and record low oil prices right now .

Bitcoin has done nothing other than replicate the market and go down more than the market. It has not been any sort of hedge or non-correlated asset to the market or anyone's portfolio. I think the myth about bitcoin has been busted now well and truly. All the false claims, pumpers and bitcoin nuts have been exposed by a thing called...reality. People would be better of right now if they had held cash or AAA sovereign bonds like I do and said all along .

 

[KJK]

People would be better of right now if they had held cash or AAA sovereign bonds like I do and said all along .

I must admit you were absolutely right, I remember you mentioned exactly this here a few months go. Good for you!

That leads me to a question... who is selling, who is dumping Bitcoin at the same time coronavirus spreads in USA and Europe and at the same time oil drops and stocks (both US and international) have the worst day in decades?

- Chinese miners? If they wanted to sell, they would've done it a month or two ago when the epidemy peaked in China. Also they would do it through OTC and not in one flash crash
- Disillusioned Bitcoin hodlers? Doesn't make sense, if they were holding Bitcoin in the past year, they aren't going to sell after such drop (which is HUGE but it happened before)
- Some large player dumping Bitcoin, for example Plustoken founders? Not sure if they can influence the market that much, maybe...

__________________________
I don't know the answer. It just seems to me that everything is so connected and correlated it is hard to find "value" (whatever that means).

Panic spreads from coronavirus, okay cruise ships and airlines probably are affected; why does e.g. Portuguese wood pulp producer or Polish meat producer or Japanese car accessory manufacturer drop 25 % in a day? Perhaps we really will have an apocalypse soon, and then it will not matter. There will be one uninfected place such as Greenland and the rest of the world will be zombie land.

Panic also spreads from low oil prices, okay American non-conventional producers are affected and devastated (though they may receive some govenment support soon), why does that hurt a Russian natural low-cost gas producer who is actually in a position to benefit from this?

I don't know, either the markets are driven just by algorithmic trading and massively huge ETFs that have to sell according to rules... Or the world is more intertwined than I thought.

 

[Martin Everson]

That leads me to a question... who is selling, who is dumping Bitcoin at the same time coronavirus spreads in USA and Europe and at the same time oil drops and stocks (both US and international) have the worst day in decades?

PlusToken is potentially just the trigger that caused a series of events. Remember a lot of these stupid crypto loan companies that gave loans in USD or EUR in return for bitcoin as collateral will have have been forced to liquidate their bitcoin holding as bitcoin value dropped 50% in a month. I touched on this exact situation months ago (i.e see below link) and in other posts. It has all come to pass as I predicted.

https://www.offshorecorptalk.com/th...any-uses-swiss-bank-account.27255/post-109539
I think a domino effect has happened in crypto market following PlusToken selling and price drop forcing massive liquidation in bitcoin loan companies by major players and followed by individual players panic selling.

I don't know, either the markets are driven just by algorithmic trading and massively huge ETFs that have to sell according to rules...

You hit the nail on the head and that is why I don't personally invest in the stock markets. Unless you are an insider don't waste your time as you will be just speculating on stocks. What moves the market are huge funds and algos/HFT's. Everybody else is window dressing for the real people that make money manipulating the markets. For example a hedge fund manager knowing he has to buy a large stock position in his fund will front run the trade in a friends brokerage account to profit from the price rise. Same with share buy backs. CEO's buying back there own stocks for their company will front run the trade. The guy on the street or even a financial anaylst has no clue whats really happening with a stock as movement these days has very little to do with fundamentals of a company. The problem is nothing can be done about the situation without exposing that the whole stock markets are rigged and causing a catastrophic collapse in confidence.

 

[GrumpyMess]

There are too many people in the cryptosphere just for easy money. The only thing they care is how to make x2 and cash out their crypto earnings. This way bitcoin is doomed.

 

[wonderwhat]

Bitcoin is down 50% in one month.....lol. Where are all the pumpers that claimed bitcoin is a safe haven in a financial collapse or crisis? They said people will flock to bitcoin and the price will go through the roof. Well we are suffering a global financial crisis and economic ruin for some industries such as airline and shale with flights cancelled and record low oil prices right now .

Bitcoin has done nothing other than replicate the market and go down more than the market. It has not been any sort of hedge or non-correlated asset to the market or anyone's portfolio. I think the myth about bitcoin has been busted now well and truly. All the false claims, pumpers and bitcoin nuts have been exposed by a thing called...reality. People would be better of right now if they had held cash or AAA sovereign bonds like I do and said all along .

You're right. Satoshi too said the same thing regarding BTC but fools won't listen just keep calling him as a Fraud. BTC still here because of the Chinese and Russian people.

Craig always hated people who don't work hard but looking for easy money. Look at Coindesk video, He said F*** the crypto community. BTC is a smart passive ponzi scheme.

 

[JohnLocke]

People would be better of right now if they had held cash or AAA sovereign bonds like I do and said all along

Let's hope they don't put all your money into bitcoins This is like everything else, DON'T put ALL your EGGS in one BASKET - so if you hold Cash, Gold, Bitcoin, Stocks, ETF's, property and even Whisky as discussed here you will now have found your self in a safe harbor. So for that reason, I can only say again, do proper research, prepare your self properly for such situations and you will be a winner. Only read selective information buy few people and feel like a loser

I hope everyone is going through all of this healthy and without too many losses

 

[wonderwhat]

This is just a great buying opportunity, nothing more.

Same goes for Crypto.com coin, and many others.

Buy when the market is red, I see this as an opportunity, will bounce back over 10k within 6 months.

Stop. Past performance doesn't guarantee future performance.

Store of Value is a myth. SoV doesn't change it's value up and down. Cash or Bonds are best way to go.

 

[KJK]

so if you hold Cash, Gold, Bitcoin, Stocks, ETF's, property and even Whisky as discussed here you will now have found your self in a safe harbor.

???

I thought I was pretty diversified, I had some stocks (US & EM & other), some fixed income stuff, some ETFs, Bitcoin, a bit of cash, a bit of gold. No whisky I admit.

I definitely do not feel in a "safe harbor", I feel devastated.
Even guys like Ray Dalio who should've been prepared for situations like this were hurt a lot.

Maybe I'll buy the whisky, get drunk at home; and hope I won't infect anyone if I have Covid19 and I'm not aware. And in the meanwhile I hope the world doesn't turn into a zombie apokalypse.

 

[JohnLocke]

I definitely do not feel in a "safe harbor", I feel devastated.

Well, we all do our investment different. Believe it or not, but I have a + (plus) on one part of my investments these days and of course a big - (minus) on other parts, but over all it went out fine so far.

Also making new investment and just wait some time (sometimes only hours) to only sell works fine so far.

Lot's of opportunities if you know what you are doing, but I admit bitcoin is not the one I will make any profits on right now

 

[Spinat]

Bitcoin is s**t wroth at the moment Tether may indeed be the answer the next time for a stable coin.

Anyway, you all want to see it as an opportunity to buy coins now!

 

[Silvio]

Tether is the biggest scam of all, complete fabrication out of thin air

 

[clemens]

Tether is the biggest scam of all, complete fabrication out of thin air

Yeah but they seem to be the only one that is not going negative these days. Do you know of any similar alternatives?

btw. bitcoin is stabilizing at the moment, so let's see if it will rise again anytime soon.

 

[JohnLocke]

It is going up by 5,38% already compared to huge negaives yesterday!

 

[Silvio]

Yeah but they seem to be the only one that is not going negative these days. Do you know of any similar alternatives?

btw. bitcoin is stabilizing at the moment, so let's see if it will rise again anytime soon.

Of course they are not going negative, because it's completely manipulated and fake.

It's like saying I'll invest with Bernie Madoff, I know it's a ponzi but he's the only one making money these days ..

 

[KJK]

It's like saying I'll invest with Bernie Madoff, I know it's a ponzi but he's the only one making money these days ..

It's like saying I'll invest with S&P500, I know it's a ponzi but the market goes up and it if stops (like last week) Fed will rescue me.