Topic: The Bitcoin CRASH is coming! (Read 2969 times)

Many people got FOMO'ed. The increase does not make any sense, No one with a sane mind would Invest right now maybe at 10K could be the possibility. A pullback to 9k is expected, but I'm not sure when. In my opinion, people who bought at 12K+ is straight up gambling not really trading or investing.

Yeah might be a problem for them and maybe theyll doubt it more cause of that dip and pump. Hoping for a good correction of bitcoin so i can relax a bit. Cant relax with a wopping $15000 value of bitcoin for just a day it rose up to $1200 for the day. Imagine that.

bitcoin is hard to predict. I think prices will fall, but i think only stop at $ 10000-12000. profit when buy Bitcoin last month to this month is an extremely large number and of course, the shark will sell them for profit have exceeded that goal even exceeding the target. Investment in 12k not really is straight gambling. if the long-term investment now is still a good time

I hope not. But still it is hard to predict the future prices of bitcoin.  If today the price has reached the amount of $14,700, i hope there's only correction on it but will continue to rise until next year 2018.  I just sold bitcoin awhile for a price of around $14,500, so it was a good profit because I bought it when it was costing at $3,600 only.

It's better to have a correction first than crash all of a sudden. Sudden crashes scare away new investors and it can hurt the market. Since the large fraction of price surge came from new investors they will tend to pull out if something goes wrong.

There seems to be some confusion about this. Bitcoin IS NOT going to be traded. Bitcoin is just going to be the underlying "asset" being traded on futures. All the trading shall be done in fiat. So, whales do not need to buy anything, as they'll open and settle the transactions is fiat.

OTOH, a price pump and then subsequent dump opens the possibility for very profitable short positions in futures. However, it only makes sense if at the time of the contract the BTC value is HIGH. So, if a manipulation is being conducted, the crash is profitable only if it happens after the futures start trading and contracts are exchanged.

But any position must have an opposing buyer. So another whale must get stinged if some whale is going to make money on shorts. Therefore, some whales may think just the opposite and open long positions. Entraping whales wanting to short with the current pump, then going for another pump.

All's swell since bitcoin markets are not regulated and price manipulation is not illegal. It is therefore hard to predict that futures will trigger the crash. It may be the opposite.

Today is the 7th of December 2017, a remarkable day where the Bitcoin price has gone up and is currently worth over $14,500 USD.

Many altcoins are down in value as holders of these altcoins sell them and buy BTC instead - it sounds so promising, BTC is the future, the rest is not.
However as site owners who pay our members in BTC and also run a Ripple Faucet (Link: https://bitcointalksearch.org/topic/coinfaucetio-ripple-xrp-faucet-claim-every-hour-50-ref-comm-instant-wd-2436732) we have to express our opinion about all this Bitcoin hype. It has now entered into an extremely dangerous territory and let us explain.

Rule of Thumb = World Economy is Based on Trust

The issue with Bitcoin is that currently so many people "invest" in it, in a sort of a "rush train", everyone wants to hold 1 BTC, one of the 21 million BTC out there (Bitcoin is capped at 21 Million BTC). The 21m is not a problem, one dollar in some random country can be worth 1 today, 0.1 tomorrow, 0.001 next day, that's not a problem.

The problem starts when people need to use Bitcoin as form of payment and not only for speculation ... holders of BTC yesterday or today would hesitate in paying with BTC because they worry about price fluctuations - and so is the receiver ... if we get paid $100 from CoinTraffic for ads we placed in our faucet we feel "bad" we get paid in BTC today because yesterday it was worth more.

And this cycle creates a problem of TRUST.

So why Bitcoin goes up?

Bitcoin is going to be traded in several stock exchanges very soon. Those who believe that "sharks" or "whales" wait for the day of opening and then start buying or trading are only fooling themselves.

When Facebook firstly launched itself on the stock market - the stock plunged and plunged and no one could explain it - just like today no one can explain how Bitcoin went up so fast - according to ZeroHedge:

http://www.zerohedge.com/news/2017-12-06/bitcoin-explodes-above-14000-korean-pm-fears-serious-pathological-phenomena

$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours

It went up from $9000 to $14,500 in less 2 weeks!

Bottom line:

If this doesn't create an issue of trust - then we're all living in a bubble.
The fundamentals of Bitcoin are great, but what we experience nowadays is exactly the opposite, and that's because we're all human beings and we lost trust in each other, we created central banks we don't trust anymore, we created a financial system that we can't trust anymore - and unfortunately Bitcoin is heading towards that territory as well.

PS Just like Steam expect many to consider the stop of using Bitcoin (we might as well) due to price volatility and high fees as these are simply not suitable for many businesses neither.

Really are the sentiments identical? I see more bearish threads than bullish ones?
Right now on ths board 70% of the new topics today are on predicting when it will crash and by what percentage it would crash down to.
Was it really like this in 2013?

i hope bitcoin doing correction first. bitcoin price is currently unexpected. profitable for old investors who's holding bitcoin. but for newbie who begins to deposit its very heavy. 

Ah man, this current run up reminds me so much of the $1000 USD bubble a few years ago. Comments on this board are identical... Sentiments are identical... It remains to be seen what futures will do to the BTC price, but regardless, we all know what goes up must come down. I personally think futures will be deleterious on the BTC community for awhile. My thoughts from the beginning have always been that BTC technology was invented as a solution to our current financial trajectory. It’s somewhat disappointing to see our current financial instruments assimilating into BTC ad hoc. It gives a bad taste, as all the problems that come with fractional reserve banking and some speculative financial instruments will just parasitize BTC.

None-the-less, if BTC is ever going to truly succeed, this is going to happen to some degree. The exchanges are the ones who will truly benefit initially from the futures trading. After all, their BTC price quotes/infrastructure are the ones directly being traded on. The deals made to allow futures trading to even exist here must have been something to behold. It’s for a reason. The gov’t regulates exchanges which in turn moderates futures. Very much a top down strategy. The bottleneck is exchanges and currently that is where most people go. Once futures opens, there will be mass influx in futures shifting the bottleneck to futures and I predict a lag in exchange trading. This will slow the price, influence the type of futures sold (mostly shorts) and the exponential rise in price we have now will fall out and reset itself for another run up in the future.

you say that as if you don't believe it!
the thing is, majority of the altcoins specifically the top ones that everyone hypes these days, are worse than bitcoin. you just don't see the issues in them because they are not used. they just hype it and pretend they are better, more promising, better scaling, etc. but when it comes to reality they all fail, harder than bitcoin. google crypto kitties and see how it crippled ethereum for 3 days now.

and yeah, bitcoin will crash like it always does after a big rise. but in the end it will pick up again and continues rising because it has that "real adoption as a currency" not just speculators who are in it for short term.

Hmmm...
Bitcoin will crash, eh ?

Methinks I've heard that before :

BTC hits $100 - "it'll crash soon"
BTC hits $200 - "certainly crash soon"
BTC hits $500 - "gunna crash real soon"
BTC hits $1,000 - "must crash soon"
BTC hits $2,000 - "crash soon now"
BTC hits $5,000 - "for sure crash very soon"
BTC hits $10,000 - "definite crash coming"
BTC hits $20,000 ...

Note that you conveniently jumped over $1400 where BTC spiked and then crashed down to as low as $200 and stayed there for nearly 3 years.  If history repeats itself in this market driven by few fundamentals, we could easily be looking at $14,000 fall to $2,000....and there's nothing fundamental that would prevent that from happening...especially with the kind of people pouring in money at this point.