Bitcoins are officially donkdown

[sonatine]

https://arstechnica.com/tech-policy/...currency-scam/

AriseBank ICO raided by feds.

Misunderstanding etc etc.

Have some class. DonaldTrumpsHairPiece has a big bet and has gone dark. No bashing until his 2-3 month trade is done.

god that post of his broke my heart.

[chinamaniac]

Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.

The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.

[monsterj]

I closed my position, 5K winner off one future in one day. Easy $$$.

I'll reopen one next week since I won't be my desk all weekend.

[monsterj]

Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.

The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.

Can you expand on your thoughts here? I am not following your point.

[big dick]

Mind telling me how you did that monster j ? In detail please cus tbh idk shit about it but would love to learn.thanks

[chinamaniac]

Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.

The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.

Can you expand on your thoughts here? I am not following your point.

My point is every currency graph here for about the past 30-40 days looks more or less EXACTLY the same. They all move up and down at the same time.

https://coinmarketcap.com/

I just don't think the price of BTC is going down because the public is done with it.

It is something bigger on a larger scale. I'm not exactly sure how much buying and selling it takes to move the price on this stuff but the fact that they are all moving more or less at the same rate up and down etc.. makes me believe that joe shmo public is not the reason Bitcoin is going down.

[sonatine]

sooooo...

[DirtyB]

Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.

The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.

You're not a fan of the rich and powerful leveraging their existing wealth to further prey on the weak majority? It sounds like you have a philosophical objection to capitalism.

And I'm no crypto analyst, but I'm pretty sure that the reason all of those graphs look the same is because they all follow BTC.

[chinamaniac]

Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.

The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.

You're not a fan of the rich and powerful leveraging their existing wealth to further prey on the weak majority? It sounds like you have a philosophical objection to capitalism.

And I'm no crypto analyst, but I'm pretty sure that the reason all of those graphs look the same is because they all follow BTC.

Where did I ever say I was not a fan of this?

And if I ever did say this I would be a hypocrite because I prey on the weak majority almost every day

And What does they all follow bitcoin mean?

[DirtyB]

You're not a fan of the rich and powerful leveraging their existing wealth to further prey on the weak majority? It sounds like you have a philosophical objection to capitalism.

And I'm no crypto analyst, but I'm pretty sure that the reason all of those graphs look the same is because they all follow BTC.

Where did I ever say I was not a fan of this?

And if I ever did say this I would be a hypocrite because I prey on the weak majority almost every day

So you're a member of one of these "major groups" you describe so mysteriously?

[chinamaniac]

Where did I ever say I was not a fan of this?

And if I ever did say this I would be a hypocrite because I prey on the weak majority almost every day

So you're a member of one of these "major groups" you describe so mysteriously?

No, I play poker and gamble a lot and prey on the weak

[DirtyB]

So you're a member of one of these "major groups" you describe so mysteriously?

No, I play poker and gamble a lot and prey on the weak

Oh. That's a much fairer fight.

[sonatine]

actual footage of bitcoin cash prices in the last week:

[monsterj]

Mind telling me how you did that monster j ? In detail please cus tbh idk shit about it but would love to learn.thanks

Open a brokerage account that can trade futures. I think you need 25K in assets or cash loaded into your account, maybe more I am not sure exactly. I use Interactive Brokers.

1 future = 5 bit coin.

I sold one @ 9600 and paid 8600 on one to close my position. $1000 * 5 bit coin = 5K.

These type of products are usually only for professionals, I had some very concrete stop losses so I don't go broke naked selling like this. I am no longer in the industry, but traded at a trading firm for many years. Good Luck!

[monsterj]

Can you expand on your thoughts here? I am not following your point.

My point is every currency graph here for about the past 30-40 days looks more or less EXACTLY the same. They all move up and down at the same time.

https://coinmarketcap.com/

I just don't think the price of BTC is going down because the public is done with it.

It is something bigger on a larger scale. I'm not exactly sure how much buying and selling it takes to move the price on this stuff but the fact that they are all moving more or less at the same rate up and down etc.. makes me believe that joe shmo public is not the reason Bitcoin is going down.

Joe Schmo is almost never the reason any financial markets move, one big swinger can buy entire books and move the market more than 10000 small timers. Reason being is smaller timers all don't do the same thing, some buy some sell, and for the most part they cancel each other out and don't move shit.

Look at almost every major stock, almost all are 80% or more institutionally owned.

[GambleBotsChafedPenis]

Mind telling me how you did that monster j ? In detail please cus tbh idk shit about it but would love to learn.thanks

Open a brokerage account that can trade futures. I think you need 25K in assets or cash loaded into your account, maybe more I am not sure exactly. I use Interactive Brokers.

1 future = 5 bit coin.

I sold one @ 9600 and paid 8600 on one to close my position. $1000 * 5 bit coin = 5K.

These type of products are usually only for professionals, I had some very concrete stop losses so I don't go broke naked selling like this. I am no longer in the industry, but traded at a trading firm for many years. Good Luck!

TD Ameritrade also has it, just checked and my account has that availability.

you prop trade before monsterj?

[snake_in_the_ass]

I closed my position, 5K winner off one future in one day. Easy $$$.

I'll reopen one next week since I won't be my desk all weekend.

Congrats. But according to Sonatine, bitcoin cannot be traded for profit. Looks like he was proven wrong again.

[Dan Druff]

Looks like it's going to hang in the 8000-8900 range for a bit.

But that's a pretty bad medium-term prognosis, because after the crash down to 7600, it rallied up to 9k, but immediately fell from there pretty much the second it touched that point.

There have been some mini-crashes and mini-rallies since, but it never gets to 9k.

The fact that 9k -- just a few days ago considered a bottom resistance point -- is now a strong top resistance point -- is not good.

I think we are headed for the 7000-7900 range in not too long, where the same pattern may follow.

[Dan Druff]

Since I might be sleeping or unavailable during the inevitable next crash, please save this, and play it as mood music while it occurs.

[BeerAndPoker]

Looks like it's going to hang in the 8000-8900 range for a bit.

But that's a pretty bad medium-term prognosis, because after the crash down to 7600, it rallied up to 9k, but immediately fell from there pretty much the second it touched that point.

There have been some mini-crashes and mini-rallies since, but it never gets to 9k.

The fact that 9k -- just a few days ago considered a bottom resistance point -- is now a strong top resistance point -- is not good.

I think we are headed for the 7000-7900 range in not too long, where the same pattern may follow.

You say this because of what?

We really don't have a strong pattern going here at the moment. All of these so called expert nerds who have sit there watching btc every waking moment for the past 6+ years can't tell us what will happen, nor can you. All of us can make guesses and I have done plenty myself but right now it's insanely hard to predict.

With anything people can get burned but it seems like their is some money to be made doing fast shorts here such as buying at 7.5k if it dips to that and getting out at 8.5k, which could happen in a few hours or days netting like a 12% return on something that has withheld the test of time no matter how much many of us thought it would be a joke.

You could hold on longer here too but creating a sell point isn't a bad idea then reinvesting working with profits to freeroll what happens in the future as plenty of investors have done over the years.

Just like the stock market which had it's worst day in a long ass time today you take the risk in crypto but it's no different then medium to higher risk stocks that a lot of people will put money in to so any person who does it has to be aware of what could happen and for those who put their entire life savings/401ks all into crypto well they are idiots plain and simple.

btw clearly the range you say isn't too far off where btc is currently so it very well could happen but my point is right now it's hard to predict.