2. 100m is significant in relation to the amount traded daily.
IMO any technicians charting this that sees this as a buying opportunity are lying to themselves. $6k within days.
I'm sure you're right and everything but... 0.5% of BTCs 24hr trading volume is significant? The market as a whole has risen 100 billion since the recent bottom and you guys are blaming it on 100M worth of tether. Just seems crazy to me.
Trying to be patient. I don't think we've seen the last of $10,000 BTC. That would be way too easy.
Agreed. Looks like potential bottom and everyone's hoping storms over but as you say to easy... I'm looking for one last dip to ETH: $770 / Bitcoin: $8k. God knows how low that will take my alts hah.
Anyone think flash crash down to 1-2k is possible this year? Could make lot of sense considering all the newbie money recently entering the market and ridiculous valuations of some of the alts. Hope no ones investing money they cant afford to lose!
First of all, I never said that. Secondly, successful deployment of segwit, beat down of 2X take over attempt, and introduction of regulated futures markets were some pretty big, positive news. But mostly it was pent up hype from the last four years.
It's in a price bubble right now, but that doesn't mean it will fall as low as $2000. Many more people, organizations, and capital has invested in the last year, and had a taste for higher prices. Lots of progress has been made on the underlying technology. Maybe the floor is as low as 1000-2000, but I think there is enough interest on the sidelines to prop up the price until it's worth more.
With China shutting down miners the cost to produce a bitcoin in western countries can easily be $3K+ now and that's after the upfront capex investment in equipment. Add on some utility factor and you get a pretty firm support floor. Anything over that is demand driven.
currently it seems hard to expect rapid gains when exchanges are not able to be as loose with customer signups, and some are closing the business. most governments will be pushing for id verification.
the "value" of btc is about $800 a coin (its how far the demand of criminal activity will get you and thats ALL that bitcoin is good for). the rest is speculation and idiocy. the value of every other coin put together is about 0.
