Topic: This won't end well (Read 1695 times)

You have not seen cry yet bro! Be sure to have some topics on this thread in coming weeks. I would not want it to be like we are scaring anyone anyway and I would not blame any newbie for being a FOMO right now since no one really knows how long this is going to keep going. However, every reasonable person should know this looks like a bubble and putting their whole life savings? That would be some whole new shit level.

The strong correction has always been expected and even if it happens. Some newbies who apparently have no idea what they are dealing with and doing some FOMO shit right now may end up panicking and selling at losses instead of buying more at dips.

At the end, most of them will still end up learning their lessons if they panic anyway and I cannot imagine how someone can pour all their savings. That would be crazy!

Just simple! No need to be raising unnecessary alarm about something that even if it happens, it is a good thing to get some pretty good profit at the long run. Shit happens and even if it ends up happening, we can deal with it, move on and then get the ball rolling again. I remember I did not want to miss out some years back and I was a FOMO, which still ended well right now despite everything everyone like the OP said.

If that happens I am very much happy too. I have holded around 1 to 1.5 bitcoin in my electrum wallet that will give me a way to make more profit. Still I am keep on holding the bitcoin whatever I am making from the project and campaigning.
I have got information from my friend who is currently mining. He stated that some big investors from US gonna invest on bitcoin and related project and then its value will be grows to more than 5k USD in the chart.

Regarding 4th one, even if Bitfinex/Tether conspiracy is true which in fact is, price won't go correction that bad. There will definitely be a correction but price will stay at $7k-$8k. Bitcoin will find a good support at these levels or maybe more.

I believe the maximum probability is of 2nd scenario. As soon as the mcap touches $1 trillion. I expect people to exit or mark profit. But still correction won't be that bad. Bubble is building up but bubble tends to survive longer than we expect. A crash is inevitable but will take time.

Never end well ))

The link you've provided merely described some facts which I think most people are aware of (especially the earlier investors in bitcoin).
Having said that, it's always good to be reminded of those facts. thanks.

after CBOE support it’s impossible to say the price will back into 0.

bitcoin will have "STRONG" crash next week/month not sure when but will happen.

This won't end well read theymos post

Lol shorts got blown the fuck out again, specially those that were looking forward to short bitcoin below $10k hoping for a scare due future's market's opening, but oh what a surprise, it actually pumped near ATH levels.

Now let's see if this is now one of these double tops with a classic pullback or we actually go for a new ATH. Still many hours to go before the daily candle is closed, if we can close above $16667 I guess we'll aim for higher highs. Who knows if FOMO kicks in and we actually hit $20k before 2018.

This is such an important point!

Agreed over any long enough duration that is true for virtually all altcoins, but altcoins can appreciate very fast w.r.t. to BTC at some junctures and that is when one can increase their BTC if they are very astute about trading.

When I said buy LTC at $6, some people thought that meant HODL it until $150, but we traded in and out several times including selling at $85, re-entering at $44, selling some around $60s, buying more in $50s, then selling some (not all) again $150 (at 0.01 BTC). (Some think and maybe correctly that they should just HODL because LTC at $7 billion mcap is still very undervalued w.r.t. BCH and ETH, but they have been decimated w.r.t. to BTC as LTC had declined from a 2017 peak of 0.022 to 0.005)

For example, on the recent high some were selling BTC for LTC, and they doubled their BTC if they traded back.

Trading alts has tax implications. See also.

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Agreed and there are two facets to this:

• Investing in alts when they’re microcaps such as when I was saying Byteball had a unique consensus mechanism when it was a $1 million mcap and then it went to $250 million mcap.
• Very special altcoin which would potentially exceed Bitcoin's mcap without killing it, might emphasize something other than the cryptocurrency and even we may already have an example.

Btw, I think decentralized governance is a lie.


Sorry but I must scold you for being egregiously myopic.

They grow the ecosystem! Just think how many people got interested in speculating on BTC because they were interested in speculating on an altcoin. All the PR on altcoins contributes to the snowball of market mass for crypto in general. Come on man! Not everyone are only interested in HODLing a better gold. Some are interested in smart contracts, decentralized blogging, Crypto Kitties, etc..

Absolutely. I have always thought of alts as parasites that live on the back of Bitcoin.

I'm pretty confident that Bitcoin will remain dominant in the cryptocurrency space. But not all altcoins are pump-and-dumps. And if you think that money will only flow into Bitcoin, I think you're mistaken. For every 40 or 50 coins that are launched, there is probably 1 or 2 long term protocols/suites that will become groundbreaking. Most 10,000x gains are not pump-and-dumps.

There are a lot of use cases that Bitcoin won't or can't address -- privacy, decentralized exchange, decentralized governance. There are entirely new methods for consensus that can, in time, compete with Bitcoin. I wouldn't write them all off, even if I think Bitcoin will capture more value than all of them in the long run. The market is diversifying, and I'm happy to go with it.


That's like posting screenshots of Bitcoin during one of its corrections. Or during the entire 2014 bear market. You could also include screenshots during the insane bull rally in altcoin markets during the first half of the year.

These markets are cyclical.

Yeah, altcoins market is very tightly correlated to Bitcoin, the only way for Altcoin to go up is for Bitcoin to stay stagnant or very slowly uptrends/downtrends movement.

And I believe anything that goes up that fast will have a nasty crash, and the panic seller could help the crash nastier.

Bitcoin system is digital currency and it fully based on all in computing online using gpu so it not a ordinary currency it's a digital currency and it's raises fall and fall and fall again is harder it's not really a correction it is talk about healthy correction then we more testly like the $10000 level again and it touch the $17000 and today rate was $13000 and in future it increased high only so no way to it's end .

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

It's not really a correction. If we're talking about a healthy correction, then we more likely test the $10,000 level again, and as long as we hover around current levels, I just consider it to be normal market movements given current circumstances. It's clear that the market is taking a break waiting for what's going to happen with the futures that are less than 24 hours away from now. It's almost calmth before the storm, and it will not remain flat at current levels for long, that I am sure of. The entire market is alert and ready to either open or close positions. I cashed out some of my profits around the $16,000 level, where from this point it's waiting whether or not it was a well executed move.

The 2nd one has the highest probability right now.

The 3rd one has the highest probability after we hit the $40k peak. But the bottom would be > $10k.

The last (4th) one [the Tether/Bitfinex collapse] may occur during the 3rd one, and may also include:

• the Tether/Bitfinex collapse
• a blood bath for non-compliant ICOs
• SegWit theft wherein the blockchain “steals” $billions of BitcoinSegWit “pay to anyone” donations
• skyrocketing transaction fees and excruciating slow confirmations on BTC

It's totally normal in markets to feel agitated with these kind of insane gains. I think it has something to do with the drastic change from what is normal. Markets range 80% of the time, so traders get very used to banking 10-20% gains and waiting out corrections. This type of nonstop insanity for weeks and months on end is a totally different animal.

I've experienced this many times myself in crypto markets, and I'm getting better at fighting the urge to sell insane bull markets. One of my new favorite analysts commented on this phenomenon the other day:

This is not going to end well if price going is going to happen since a lot of users will be dealing with it specially those new ones. They may look this as a bad side, but it is part of the game 'the faster you rise, the faster you fall'. So a great expectation of price correction will going to happen just watch it.