Lets face it, real money controls BTC and crypto ... - page 2.

Red-Apple

hero member

Activity: 1470

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Quote from: ThirdPrize2 on December 07, 2018, 07:14:51 AM

Quote from: Red-Apple on December 07, 2018, 07:12:23 AM

i could agree with you only if the in the past 10 years bitcoin dropped when stocks dropped but that has never been the case and this time is an exceptional coincidence that happened in 10 years so you can not use that alone to connect the two together.

let's face it, you are trying too hard to connect two irrelevant things and then come up with a low ball price prediction.

Then what do you suggest is the cause?

i don't know. i can only guess. and my guess is that it is because of the BCH fork drama that started exactly before the drop began and that is being used by market manipulators to crash the price more. and all of it is done because there is a lot of profit in this crash.

hardhouseinc

sr. member

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Most Advanced Crypto Exchange on the Blockchain

Well, real money is needed in this business because the investors of crypto are using their real money to get in and then to increase their profits. It is not a bad thing that real money controls crypto.

ThirdPrize2

jr. member

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Merit: 1

Quote from: mk4 on December 07, 2018, 06:50:03 AM

As for the stock market, the stock markets went through a multi-year bull market. A bear market was pretty much inevitable.

The thing is, all you can do with BTC is convert it to fiat. You can't actually do things with it. There is talk of another financial crisis coming. Surely people should be stocking up on BTC, not ditching it.

ThirdPrize2

jr. member

Activity: 79

Merit: 1

Quote from: Red-Apple on December 07, 2018, 07:12:23 AM

i could agree with you only if the in the past 10 years bitcoin dropped when stocks dropped but that has never been the case and this time is an exceptional coincidence that happened in 10 years so you can not use that alone to connect the two together.

let's face it, you are trying too hard to connect two irrelevant things and then come up with a low ball price prediction.

Then what do you suggest is the cause?

Red-Apple

hero member

Activity: 1470

Merit: 655

i could agree with you only if the in the past 10 years bitcoin dropped when stocks dropped but that has never been the case and this time is an exceptional coincidence that happened in 10 years so you can not use that alone to connect the two together.

let's face it, you are trying too hard to connect two irrelevant things and then come up with a low ball price prediction.

clrpod

full member

Activity: 322

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Well duh. The market is priced against FIAT so if people are facing a squeeze on their FIAT due to economic conditions then they're going to need to sell their crypto to gain more FIAT. Much like all alts follow the path of BTC, BTC will follow the footsteps of FIAT investments.

This will not ever change until BTC can be readily used as a payment option and is therefore not tied to FIAT.

mk4

legendary

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Paldo.io 🤖

Quote from: ThirdPrize2 on December 07, 2018, 06:38:37 AM

US and China worries are affecting the stock market, and the same people selling there are selling here. What is the point of being decentralised if "big money" still owns your ass? It's a joke. Crypto is just another column on a "profit & loss" spreadsheet somewhere.

Sure. So called "big money" can definitely manipulate the markets. But does that automatically mean that they "own" you? Definitely not. Whatever the value of your bitcoin is, you still end up with the same amount of bitcoin. There's just so little money into bitcoin or cryptocurrencies in general compared to other assets like gold, hence bitcoin is significantly easier to manipulate in terms of price. As more money goes into bitcoin, it gets harder and harder to manipulate, because as more and more money goes into bitcoin, the prices will be harder and harder to skew with huge buy or sell trades. It's going to take time; don't expect a new asset that's only 10 years old to find it's sort of "stable" price just like how gold did.

As for the stock market, the stock markets went through a multi-year bull market. A bear market was pretty much inevitable.

Quote from: ThirdPrize2 on December 07, 2018, 06:38:37 AM

My prediction? Back to $600, the price before the last big pump. That will wipe out most ICOs and AltCoins as they will be worth absolutely nothing.

Good. It's actually better for the markets if these shitcoins just go out of business so people could focus on the important projects.

ThirdPrize2

jr. member

Activity: 79

Merit: 1

It's nothing to do with the BCH fork, or BAKKT, or the ghost of Satoshi.

Watch the news. Stocks and shares are tumbling as well. US and China worries are affecting the stock market, and the same people selling there are selling here. What is the point of being decentralised if "big money" still owns your ass? It's a joke. Crypto is just another column on a "profit & loss" spreadsheet somewhere.

My prediction? Back to $600, the price before the last big pump. That will wipe out most ICOs and AltCoins as they will be worth absolutely nothing. You can also say goodbye to most of the big money investments in trading platforms and exchanges.

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