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Post by Capital on Apr 18, 2021 18:45:42 GMT
Apparently 15% of Bitcoin value has been lost today. Sorry I am not able to include a link to the story. Google for the news.
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Post by yogibearbull on Apr 18, 2021 18:51:08 GMT
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Post by Capital on Apr 18, 2021 19:29:08 GMT
Thanks yogibearbull. Sitting at a baseball game reading news feeds. Does not look like much of a crash from the link you posted.
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Post by yogibearbull on Apr 19, 2021 15:48:05 GMT
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Post by bb2 on Oct 15, 2021 19:12:43 GMT
Over on M* Forums there's a poster, Stonksalltheway, who I'm sure is a bitcoin promoter, possibly even a bot. Certainly paid to promote. But it prompted me to check this : 79% of all BTC was mined before 2016. Ownership was relatively low then, so there must be a high concentration of ownership. Which in turn would make for a market ripe for manipulation. The space is so very promotional and subject to manipulation, it seems to me. A little collusion and you can keep the train running. Where are the regulators?
Any thoughts on this? I hear that institutions are getting into BTC but I don't know if I can believe that; just look at CNBC with segments that are sponsored by Greyscale, segments that look like legit interviews but are really promo spots.
I've been reading up on bubble events, like the tulip craze but haven't found anything to inform me about what this might be.
I should add, I Googled "Stonksalltheway" and that person/bot/whatever is all over the web on investing message boards, always promoting crypto and in mostly inappropriate ways.
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Post by jongaltiii on Oct 15, 2021 23:26:52 GMT
bb2 I am no BTC aficionado and just own some instead of going to Vegas. That said, there's a lot more to it than what you mentioned re: original investors. I ask myself the question ... if it was really able to be manipulated by a handful of original investors - what's stopping them? Why have they been nascent? There have been plenty of swings where those original holders could have sold/bought and made a MINT. So, there's that. Read a recent story where Jamie Dimon said it's a complete scam (paraphrasing) but his investors want access to it so he is going to provide it. The recent news of ETF approval is sure to juice it. I don't gamble and have always considered traditional gambling as my kryptonite. However, throwing a bit at BTC is like purchasing lottery tickets to me. You'll probably lose but you never know. I DO have friends that have made a real fortune on it because they were early adopters. I was trying to determine if I could play the volatility to my advantage. It worked a little bit. But the fun is watching and playing just a little. Redirect the money you might spend for high priced coffee to a little exposure and who knows. It just may go to 100K and then drop to 35K and go back to 150. Best wishes to all. Edit Add: If you don't buy the ETF, you can always just buy some Michael Saylor Microstrategy stock and you'll get plenty of exposure.
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Post by bb2 on Oct 16, 2021 16:27:08 GMT
Jongaltiii - My suggestion is that BTC whales have caused those swings and have indeed made a MINT or they can stabilize the price as well. Being early accumulators, they have started with a MINT, (I recall BTC below 1 cent), and can use it to get even richer, maybe using a sell-wall tactic or possibly to increase the popularity of BTC with a FOMO move to the upside. Or they might want to stabilize the price for a while to quiet naysayers who say volatility is bad for BTC, comforting prospective buyers.
You've been smart to go along for the ride, something I should have realized long ago. Why not latch on to an unregulated, manipulated market controlled by people who either want the asset to rise over time or succeed in the way a true believer would want - a new, stable form of money. Either way, you probably can't lose. If it goes back to a penny, that would be a one way trip.
I know a guy who bought at $5K on the advice of "someone he trusts" and when I see him next I'll ask about that conversation and post back.
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Post by chang on Dec 5, 2021 21:44:33 GMT
Looks like Bitcoin took a bit of a dive over the weekend.
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Post by uncleharley on Dec 5, 2021 22:01:08 GMT
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Post by yogibearbull on Dec 5, 2021 23:17:53 GMT
Bitcoin futures trading now (also see weekend crash) - activity now is near 50,000 area near the bottom.
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Post by uncleharley on Dec 6, 2021 2:22:30 GMT
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Post by oldskeet on Dec 6, 2021 8:30:38 GMT
Hi guys, If one had opened a position in BTCFX (a bitcoin mutual fund) when it opened to investors at $25.00 per share on July 28th they would be up $7.15 for a gain of 28.60% (through market close of December 3rd) even though it is off its 52 week high by 21.64%. Is now a good time to buy for an entry level position? Seems, Barron's thinks ... Here is their article on Bitcoin dip buyers. www.barrons.com/articles/things-to-know-today-51638782306
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Post by uncleharley on Dec 6, 2021 12:46:29 GMT
The chart indicates that Bitcoin bottomed 1.5 hrs ago. Some daytraders use 30 minute to 2 hr charts for their buy & sell decisions. I have never been able to move that fast effectively. The slower daily chart indicates that it has more downside before it will make a lasting bottom. I have no personal interest in bitcoin but if I did, I would wait a while before buying.
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Post by yogibearbull on Dec 6, 2021 12:52:28 GMT
My exposure is via Coinbase/COIN, a crypto exchange, dealer, broker, custodian. In pre-market, it is around $252, November range 252-369.
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Post by oldskeet on Dec 6, 2021 16:23:21 GMT
Hi uncleharley, Thanks for your thoughts. I am also thinking it is better to wait. If I were to buy it would be for giggles ... for starters at least. OS
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Post by jongaltiii on Dec 30, 2021 19:15:53 GMT
Hi uncleharley , Thanks for your thoughts. I am also thinking it is better to wait. If I were to buy it would be for giggles ... for starters at least. OS Subject says: Bitcoin crash 4/18/2021 If you didn't follow Bitcoin closely (or at all) - I bet you would be surprised to learn that Bitcoin has returned 64.5% for the 2021 year vs. 26% or so from S&P 500... even with all that "crashing". Of course, it's likely to increase or decrease by 5-10% in the next day or so. Microstrategy CEO and Bitcoin enthusiast Michael Saylor said in a tweet Thursday that the enterprise-analytics software company he co-founded purchased 1,194 bitcoins for $94.2 million in cash, at an average price of $49,229 each. <-I guess he thinks it has room to grow as its listed for 47K at the moment. He now HODL's 5.9 Billion of Bitcoin that he purchased for 3.75 Billion. That's quite a return for a "gold replacement".
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