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Watch the Bitcoin Bubble Burst

Discussion in 'Economy' started by Youngdan, Nov 5, 2017.

  1. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    It got to 11441.

    Let's see how it goes as it is back to 10710
     
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  2. Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

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    Reports that Nasdaq is to launch bitcoin future in 2018. That's big news.
     
  3. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    10300.

    That is over a thousand dollars less than where someone bought,they are sweating.
     
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  4. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    It went from 11400 to 9400 in a few hours. It is safe to say that some people are being skinned here. The thing about a bubble is that nearly everyone is skinned by the end of it except for a very small few,that is when the asset becomes nearly worthless. At the moment all these players do not expect it to become worthless of course. At the height the value of all of the currencies was over 300 billion dollars. It is recovered now to 10000 .If it fails here to hold the next leg down would be a big one.
    The opposing view of the lads climbing aboard is the the next big leg is going to be up.
    This reminds me of silver in Feb 1980, and nothing since.
     
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  5. Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

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    The Bitcoin debate: Max Keiser vs. Steve Keen


     
  6. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    11750..

    Looking to go through 12000 I guess.
     
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  7. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    Just heard an alert on my phone.It was cnbc announcing that Bitcoin went through 12000.

    It is now 12072.

    Could this be really a flight into safety because the markets appear to be in a blowoff top. This will end in a sharp decline, but the system most likely will not survive a sharp decline.

    Bitcoin looks to be in a blowoff top. However if you flip your graph around, it looks that the dollar instead is in a blowoff collapse.

    Bitcoin may not have surplanted gold, but it certainly is acting like gold would have acted in a currency collapse.I have shaved back most of my gold miners in the account I have highlighted here. (I have other accounts that I nearly never trade)
     
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    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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  9. Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

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    The only thing that I'd be worried about is that as soon as the Bitcoin future opens in the CME, it will be easy for the big money to short it. They could clean up in a matter of hours.
     
  10. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    13100
     
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  11. jmcc

    jmcc Member Political Irish

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    Seems that the flawed centralisation model has been shown up once again. Nicehash has apparently been hacked and plundered for about $47 million in Bitcoins.
     
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  12. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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  13. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    14100.
     
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  14. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    15036
     
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  15. Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

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    Crazy stuff.
     
  16. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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    A bubble means that enough are convinced that

    This time is different.
     
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  17. GodsDog

    GodsDog Member Political Irish

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  18. GodsDog

    GodsDog Member Political Irish

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    Just one more bitcoin.......it is wafer thin! :smiley:

    [​IMG]
     
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  19. jmcc

    jmcc Member Political Irish

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    It ruined a lot of days. This was a mining service where many small scale and hobbyist miners were ripped off.
     
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  20. OP
    Youngdan

    Youngdan Moderator Staff Member Moderator Donator Battle Royale Political Irish

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