What is wrong in CryptoLand, Bitcoin low -16,7% !!

[SoNewToAllShit]

Does someone know what is wrong in Crypto Land?

The last week or more bitcoins has fallen from 41K highs to almost 31K low today, insane!!

Does someone know if this has to do with the new US President Joe Biden?

 

[fortunespeculator]

Maybe a bear market has started in cryptoland.Avoid crypto for some time or ride the downtrend by shorting.Although i have not seen the charts but it looked like we were having a blow off top in vrypto land based on your figures.

 

[JackAlabama]

Does someone know what is wrong in Crypto Land?

The last week or more bitcoins has fallen from 41K highs to almost 31K low today, insane!!

Does someone know if this has to do with the new US President Joe Biden?

It is going to 0. I would short it and sell all.
Well, nothing new to see here. After doubling in about 3 weeks. Some correction is good and required.

 

[SoNewToAllShit]

Yeah, I will just wait to see where it goes, have not much to lose.

 

[Silvio]

 

[12345]

Big experts evaluated at 400k $ what is going on... jokes aside I think it will stabilize at around 27-29k and stay for some time but hard to tell of course. It was obvious that after enormous rise it would drop

 

[user9823671]

Next few months will see btc drop to $10k where it will stay for the next year IMO. then start a slow climb for a year until 2023 where we might see another bull run.

But same as everyone, this is just a guess

 

[sonato]

It can't be over, less than 2 weeks ago all the big wales said BTC should hit 50K even 100K within a few months, now it should already be over... really.. I don't hope that's what is going, but will put a remark on this should it happen and learn to the next time.

 

[JackAlabama]

It can't be over, less than 2 weeks ago all the big wales said BTC should hit 50K even 100K within a few months, now it should already be over... really.. I don't hope that's what is going, but will put a remark on this should it happen and learn to the next time.

thats momentum chasing, herd behavior. It cannot be seen just here but also in the coronacraze all over the world.
it goes up. then sky is the limit.
now some days down, it is all doom and gloom.

 

[Reinassance]

It will never go back, we'll never see 10K or 15K.

 

[Vor]

It will never go back, we'll never see 10K or 15K.

Hope your right but no one can predict the future and certainly not with crypto. It could come down as fast as it went up it’s anything but stable. Look how low btc went after it hit $20k nearly in the last run up.

 

[JackAlabama]

Hope your right but no one can predict the future and certainly not with crypto. It could come down as fast as it went up it’s anything but stable. Look how low btc went after it hit $20k nearly in the last run up.

The cyclical nature states otherwise. Check out S2F model.

 

[sonato]

Check out S2F model.

PDF, Link, copy/paste - anything?

 

[nomad999]

PDF, Link, copy/paste - anything?

https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
I believe this is the guy that came up with the bitcoin stock to flow charts, correct me if i am wrong.

 

[nomad999]

I suggest to listen to this if you think bitcoin is going below 20k ever again. we are experiencing FUD and crazy dip exactly as planned from anyone who have followed this market for a few years. a lot of peoples are accumulating now around 30k.

also this segment at 7:20 from an interview with billionaire Frank Giustra where he gets very excited about buying bitcoin, look at his reaction and expression when he says he wants to buy bitcoin but can't get to actually do it, very telling of what most rich people think currently, very bullish imho
whole video is interesting too, a bit less enthusiastic on bitcoin than Michael Saylor is though.

 

[Silvio]

Bitcoin right now is being bought 70-90% with TETHER, not with real money. Tether is a huge scam that claims they have their money to back their "coin" in banks in Barbados, but their alleged USD balance is bigger than the FX balance of entire Barbados.

Tether's putative "USD reserves" haven't been audited. Tether is under investigation by US authorities & has failed to comply with court-ordered information requests.

When Tether is finally exposed as a scam, BTC will crash to oblivion and with it the money of everybody that invested in this scam.

Honestly I can't wait for Michael Saylor to be sued by his shareholders for breaking his fiduciary duty. The guy took real money and bought with it "magic coins" that do nothing and can never do anything.

 

[Vor]

Bitcoin right now is being bought 70-90% with TETHER, not with real money. Tether is a huge scam that claims they have their money to back their "coin" in banks in Barbados, but their alleged USD balance is bigger than the FX balance of entire Barbados.

Tether's putative "USD reserves" haven't been audited. Tether is under investigation by US authorities & has failed to comply with court-ordered information requests.

When Tether is finally exposed as a scam, BTC will crash to oblivion and with it the money of everybody that invested in this scam.

Honestly I can't wait for Michael Saylor to be sued by his shareholders for breaking his fiduciary duty. The guy took real money and bought with it "magic coins" that do nothing and can never do anything.

Tether keeps requesting more time for its disclosures to the government it’s indeed very likely they are up to funny business also if it is backed 1:1 truly who keeps over a billion dollars in Barbados

 

[JackAlabama]

Bitcoin right now is being bought 70-90% with TETHER, not with real money. Tether is a huge scam that claims they have their money to back their "coin" in banks in Barbados, but their alleged USD balance is bigger than the FX balance of entire Barbados.

Tether's putative "USD reserves" haven't been audited. Tether is under investigation by US authorities & has failed to comply with court-ordered information requests.

When Tether is finally exposed as a scam, BTC will crash to oblivion and with it the money of everybody that invested in this scam.

Honestly I can't wait for Michael Saylor to be sued by his shareholders for breaking his fiduciary duty. The guy took real money and bought with it "magic coins" that do nothing and can never do anything.

If tether is supposed to crash, where do the tether holders run to?
Uhm maybe they will dump Tether and buy BTC.

Clearly one wanna use tether instead of usd for buying as it is much faster to wire it around.

 

[Vor]

If tether is supposed to crash, where do the tether holders run to?
Uhm maybe they will dump Tether and buy BTC.

Considering tether is worth $1.00 their isn’t much time to run anywhere if something were to go wrong with tether I think you’d see 0 pretty quick like bitconnect.

 

[Davis123]

If tether is supposed to crash, where do the tether holders run to?
Uhm maybe they will dump Tether and buy BTC.

Actually it was due to Janet Yellen's statements that cryptos can be used to finance terrorism a false charge they always bring up as their fiats are failing.