Bitcoin. Any experts/owners?

Panicky Bitcoin investors struggle to withdraw cash from money exchanges as they look to ‘safe’ gold investments amid fears of cryptocurrency collapse
https://www.thesun.co.uk/news/5396239/bitcoin-price-investors-selling-gold-value-collapse/

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Wall Street veteran Peter Boockvar has warned of an impending "epic crash" which could slash 90 per cent off Bitcoin, currently valued at around £8,300.

He told CNBC the cryptocurrency's value could fall to between $1,000 (£718) and $3,000 (£2,154) over the next year.

This uncertainty is driving Bitcoin owners to invest in the more reliable gold, according to Daniel Marburger, director of Coininvest.

He told the Times how he sold 30kg of gold worth around £1million on "one crazy day" - January 16

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Read Full Article

Reality said:

Panicky Bitcoin investors struggle to withdraw cash from money exchanges as they look to ‘safe’ gold investments amid fears of cryptocurrency collapse
https://www.thesun.co.uk/news/5396239/bitcoin-price-investors-selling-gold-value-collapse/

...

Wall Street veteran Peter Boockvar has warned of an impending "epic crash" which could slash 90 per cent off Bitcoin, currently valued at around £8,300.

He told CNBC the cryptocurrency's value could fall to between $1,000 (£718) and $3,000 (£2,154) over the next year.

This uncertainty is driving Bitcoin owners to invest in the more reliable gold, according to Daniel Marburger, director of Coininvest.

He told the Times how he sold 30kg of gold worth around £1million on "one crazy day" - January 16

...

Read Full Article

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Haha, what? This article was written with a serious agenda, by some guy that probably doesn't understand the tech scene at all.

He also fails to mention that stock market bears and the political uncertainty over the last few days drove people to gold as well.

This is a perfectly normal and healthy correction after the influx of cash tripled the crypto market cap in a span of weeks.

Stripe Ending Bitcoin Support
https://stripe.com/blog/ending-bitcoin-support

At Stripe, we’ve long been excited about the possibilities of cryptocurrencies and the experimentation and innovation that’s come with them. In 2014, we became the first major payments company to support Bitcoin payments.

Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive.

Over the past year or two, as block size limits have been reached, Bitcoin has evolved to become better-suited to being an asset than being a means of exchange. Given the overall success that the Bitcoin community has achieved, it’s hard to quibble with the decisions that have been made along the way. (And we’re certainly happy to see any novel, ambitious project do so well.)

This has led to Bitcoin becoming less useful for payments, however. Transaction confirmation times have risen substantially; this, in turn, has led to an increase in the failure rate of transactions denominated in fiat currencies. (By the time the transaction is confirmed, fluctuations in Bitcoin price mean that it’s for the “wrong” amount.) Furthermore, fees have risen a great deal. For a regular Bitcoin transaction, a fee of tens of U.S. dollars is common, making Bitcoin transactions about as expensive as bank wires.

Because of this, we’ve seen the desire from our customers to accept Bitcoin decrease. And of the businesses that are accepting Bitcoin on Stripe, we’ve seen their revenues from Bitcoin decline substantially. Empirically, there are fewer and fewer use cases for which accepting or paying with Bitcoin makes sense.

Therefore, starting today, we are winding down support for Bitcoin payments. Over the next three months we will work with affected Stripe users to ensure a smooth transition before we stop processing Bitcoin transactions on April 23, 2018.

Read Full Article

How I Lost Nearly 200 BTC trading this past month
Read comments and more stories like this on Reddit

So, long story short, I started trading a year ago, been margin longing the whole run from 1k to 19k ( sometimes closing the top, sometimes closing too early or too late, but always making profit)

I turned 3 lowly btc which I had from playing poker (at the time 3k) into nearly 200 BTC which was almost 4 million at the top and would be 2 million at current prices.

I thought I was a trading genius, a god, whatever. Anyway, this is where the sadness starts.

After the dump from 19k to 11k I went long at the bottom, and kept adding to my position on the bounce to 12k 13k, 14k. Then, at the 16k dead cat, my position was a further 100 BTC in profit. Instead of closing then and having a total 300 BTC, I increased leverage and increased my position size. This entire position was liquadated on the drop back to 12k, because my entry had moved up so much. I lost 100 btc paper profit and nearly 50 BTC margin. I was devasted, and down to 150 BTC total.

After evaluating the situation, I came to the conclusion that the pump to 16k was a dead cat and that we are going lower. Therefore I shorted. At 12k. Added at 13k. Added at 14 and 15k. Got liquidated at the top at 17k. Another 50 BTC loss. Down to 100.

Think, ok we made a higher high at 17k, uptrend back on. Went long. Got liquidated at 13k.

50 BTC left. Devastated, unsure, no clue whats going on. Sat through the drop to 9k, when we bounced I thought it could be the bottom. Longed at 11500, panic closed 10500. When we went to 13k I was kicking myself for panic closing, went long at 12800.

Liquidated this morning for my last bitcoin.

3 BTC to 200, to 0

At this time I am still in shock, the last few months Ive neglected relationships and school, and Ive been daydreaming about living the high life rich as **** with my millions.

Now, I am nowhere.

Posting this so others dont gamble away life changing money. Dont want donations or tips not posting an address dont PM me. I never want to hear the word btc again because I want to forget

Read comments and more stories like this on Reddit

The market is too volatile. I have two brothers into bitcoin. One lost a ton of money. The other is hanging on. Both say the same thing. Too unpredictable and too volatile

gmoney112 said:

Haha, what? This article was written with a serious agenda, by some guy that probably doesn't understand the tech scene at all.

He also fails to mention that stock market bears and the political uncertainty over the last few days drove people to gold as well.

This is a perfectly normal and healthy correction after the influx of cash tripled the crypto market cap in a span of weeks.

Click to expand...

Gold is the last place a non-speculator would go. ....then again. We are talking about speculators (people with money in cryprocurrency) right? hah.

Gold is primarily a jewelry. (ie, not required, wanted. ie a speculative value) Secondary, it's wanted for it's conductivity and non-corrosive nature. The problem is, it's most wanted for jewelry first, which gives it's cost a speculative nature before a intrinsic value.

One of many reasons gold and the dollar are no longer linked.

Japanese cryptocurrency exchange loses more than $500 million to hackers
https://www.cnbc.com/2018/01/26/jap...e-loses-more-than-500-million-to-hackers.html

Reality said:

Japanese cryptocurrency exchange loses more than $500 million to hackers
https://www.cnbc.com/2018/01/26/jap...e-loses-more-than-500-million-to-hackers.html

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I'm going to require you to put some JavaScript in this post that updates the value based on the exchange's current market price. Why? Because today it won't sounds as bad as it did last Friday!

YosemiteSam said:

I'm going to require you to put some JavaScript in this post that updates the value based on the exchange's current market price. Why? Because today it won't sounds as bad as it did last Friday!

Click to expand...

What really caught my eye is that volume has been really low lately for bitcoins. Either the large investors are taking a break and cutting back on their manipulation to see where the market is on its own, or they could be planning an exit strategy. It will be interesting to see what the market does if the volume remains low.

(Not Cryptocurrency related)

There appears to be blood in the street! A market correction appears to be in progress. As soon as it hits the floor. It might be time to buy up the loser losses!

This is what I was talking about with the volume pattern ..



That's over the last week. There's an overall downward trend which makes me think the large investors are either testing the stability of the market without their daily manipulation or they are planning an exit strategy.

I do think there will be some rebounding especially as it gets closer to that psychological $10,000 line, but it seems like the volume is trending downward and recovery spikes are having less and less impact over time.

patiently waiting and preparing to accumulate...especially below 7k

DFWJC said:

patiently waiting and preparing to accumulate...especially below 7k

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It's racing to that point. The question is, why do you believe $7k is the floor? Ripple has now dropped below $1.

YosemiteSam said:

It's racing to that point. The question is, why do you believe $7k is the floor? Ripple has now dropped below $1.

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I'm lookin more at low 6s but will begin to nibble in low/mid 7s.
Good question about the floor if you are referring to value--as this is all speculative stuff, imo.
This is more on technical analysis than underlying value.

I may do some via GBTC--which would be at about 10.1 or so. It's currently at 12.40

Red rum.

I'm buying right now, a lot of discounts.

I have BTC floor around ~8k. Ton of buy pressure in that zone, and with total marketcap still over $400billion, I don't think we see 7's.

This is a good thing. Unless it reverses like a sling shot, it's needed to consolidate at a lower price.

I would never buy into a free fall. You have to wait until it thuds.

In Bitcoin, that thud could easily end up being zero.

Notice the first/main pattern? Up until the last 1-2 hours, volume has been on a steady increase while value has continued on a steady decrease. That trend shows a lot of average/small bitcoin investors cashing out.

Now, notice the huge jump in the last 1-2 hours? That's one or more large investors buying up a lot of the sell-off with the goal of making quick money and also attempting to stop and rescue the fall. The problem with this is that unlike the last couple of months, the effects from this type of tactic have not been lasting very long. That's why I suspect the large investors are buying the sell-off at one point and automatically selling a lot of it after a minimum gain.

We will see what happens over the next 24-48 hours. If the price bottoms out and starts to increase, it means the large investors are buying and holding rather than going after micro-profits.

I do think it will bottom out at some point before it goes to 0 because there will still be too many large investors with large amounts of bitcoins to see it disappear completely. I think they will switch from constant buy-and-sell micro-profits in an effort to stabilize the market. The real question is at what point do they do this.

Bitcoin has spectacularly 'died' several times

- 94% June-November 2011 from $32 to $2 because of MtGox hack

- 36% June 2012 from $7 to $4 Linod hack

- 79% April 2013 from $266 to $54. MTGox stopped trading

- 87% from $1166 to $170 November 2013 to January 2015

- 49% Feb 2014 MTGox tanks

- 40% September 2017 from $5000 to $2972 China ban

- 55% January 2018 Bitcoin ban FUD. from $19000 to 8500

DoctorChicken said:

Bitcoin has spectacularly 'died' several times

- 94% June-November 2011 from $32 to $2 because of MtGox hack

- 36% June 2012 from $7 to $4 Linod hack

- 79% April 2013 from $266 to $54. MTGox stopped trading

- 87% from $1166 to $170 November 2013 to January 2015

- 49% Feb 2014 MTGox tanks

- 40% September 2017 from $5000 to $2972 China ban

- 55% January 2018 Bitcoin ban FUD. from $19000 to 8500

Click to expand...

True, but there are many more variables in play now. There are a lot of bitcoin alternatives these days compared to years ago. There are a lot of news articles every day about the negatives of bitcoin (bitcoin specifically). A lot of the large investors are likely already looking at the next big cryptocurrency and when one establishes itself for more than a couple of months, I suspect they will jump ship for higher returns and less scrutiny than bitcoin has.

Most importantly, governments all over the world have taken notice of crypto-currencies, especially bitcoin, and are starting to get more serious about regulations and investigations.

Over the last year, large investors have been heavily manipulating and protecting/buffering bitcoin from losses to help bring more average long-term investors into it and it has worked. What we are seeing now is the "bitcoin" fad starting to die down and investors doing less manipulation and starting to look more at other crypto-currencies.

Bitcoin below $8000.............. how low will it go?