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Is this the end of Bitcoin's Bull Market?

Discussion in 'Investing' started by Gambit, Sep 22, 2017.

  1. Gambit

    Gambit Active Member

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    A lot of news has been pretty bad. First, Jamie Dimon, the CEO of J.P. Morgan, called Bitcoin a “fraud.” Then Chinese regulators banned Initial Coin Offerings (ICOs) from their country… Then Chinese regulators went even further: They banned Chinese citizens from owning and trading cryptocurrencies entirely. This must be the end of the crypto bull market, right?
     
  2. stock1980

    stock1980 New Member

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    I don't think bitcoins/cryptocurrencies will entirely go away as there are always demands for those types of transactions. The Chinese banned/unbanned many things before. Probably a more controlled, more regulated environment for it as it is becoming more mainstream.
     
  3. stockoclock

    stockoclock New Member

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    AML Bitcoin coming soon near you
     
  4. StockJock-e

    StockJock-e Brew Master
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    Time to bump this thread?

    $7000 today on news that segwit2x is not going to happen.

    Longs, rejoice, enjoy the ride, but just remember to take profits along the way because these things do not last forever.
     
  5. Unicorn Dreams

    Unicorn Dreams New Member

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    number of bitcoins in existence is not expected to exceed 21 Mill
    Total human population 7 Billion
    Currency believed to be in circulation $80.9 Trillion

    BitCoin looks cheap if it can gain acceptance, won't be an easy road and it might not make it.
     
    Onepoint272 likes this.
  6. StockJock-e

    StockJock-e Brew Master
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    There are many variations of this explanation, and its the same kind of "paradigm shift" we heard back in the tech bubble of 2000.

    There are 300M people in America, most dont have internet, so therefor Qualcom should be a $5000 stock.

    Just saying... we have seen these manias before and the reason they run this high is because its believable and feeds back on itself.

    Ive been on bitcoin for years now, and I grow more and more concerned for people who are just finding it now in the +$5000 range. You know how it trades, you know it can drop to $2000 overnight very easily if things go bad.
     
  7. Gambit

    Gambit Active Member

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    Bitcoin's Market Cap just passed McDonald's. $BTC.X $MCD
    stream_102066795.png
     
    Onepoint272 likes this.
  8. rando

    rando New Member

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    I don’t think BTC is anywhere close to being done. When your Uber driver is flipping it at red lights, you should have been long gone. I suspect it will probe up to 25K in 2018.

    We will probably hear about altcoin pump and dump scams becoming common before BTC is a stinker trade. Th average BTC Long plans to sell around 196K... that may be frothy but don’t rule it out. I know many people with cost basis of 100-500 who are playing with house money and planning to hodl with a death grip for a while yet. Most of them are sitting on $20-75 Ethereum.

    Just make sure to pay yourselves dividends on the escalator up like SJE said.
     
    bigbear0083 likes this.
  9. bigbear0083

    bigbear0083 Content Manager
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  10. Onepoint272

    Onepoint272 Well-Known Member

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    BTC/USD is currently at 10,548. Here is a video by Bill Still (maker of award winning documentary "The Secret of Oz") to make you feel like your missing out. However, when I get that feeling, it usually means a top is very near.

     
    Unicorn Dreams and T0rm3nted like this.
  11. fidelgeorge

    fidelgeorge Well-Known Member

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    If this thing falls under 10,000 back to 9,000 its gonna cause some serious market panic... another global bubble in the making?
     
  12. StockJock-e

    StockJock-e Brew Master
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    Im not seeing panic volume yet, but when it does happen, so many hodlers will be shocked. They have never seen a real bubble pop before.

    Also worth noting that a crash is not a one day event, it happens over weeks to months.
     
    Unicorn Dreams and bigbear0083 like this.
  13. StockJock-e

    StockJock-e Brew Master
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    Here we go, 9000 test coming again.
     
  14. hitman

    hitman Active Member

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    Smart ones who are still holding should cash out this is going to end badly "maybe it's me missing the run", since Ethereum was hacked and someone is now $400.mil richer and from what we are made to believe that it can't happen I would like to know how the impossible happened.
     
  15. Melissa

    Melissa New Member

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    Predictions about bitcoin are very seductive. But will it be really? If you are in this boat, then I strongly recommend you to be careful. Otherwise, the risks can be significant.
     
    JRSR likes this.
  16. Unicorn Dreams

    Unicorn Dreams New Member

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    Actually my big fear for BTC holders/traders is when the futures market comes in. Many of them keep saying it's a good thing, it boggles my mind that they think they can step up to the big plates and trade against the pros. As someone who has blown an account once or twice, been humbled and run over by professionals, I've realized you have to understand and respect them. Come December 10th there may be blood...
     
    Jrich likes this.
  17. StockJock-e

    StockJock-e Brew Master
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    That is something 99% of BTC hodl'ers have never seen.

    All they know is "buy, hodl and you will be rich."

    Its never that easy.
     
  18. OldFart

    OldFart Active Member

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    CBOE starting to trade futures on bitcoin next week...crazy stuff
     
  19. StockJock-e

    StockJock-e Brew Master
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    Is it safe to say its gone mainstream now?
     
  20. Melissa

    Melissa New Member

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    I don't doubt that the number of those who want to have bitcoins will grow, as the cryptocurrency will increase in its value. But for me, it's still crazy to count on only positive predictions.
     

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