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Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

bloomberg.com

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Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#41

Post by jezzamon »

webdevver wrote: post #25

its kind of fun now, in the 'post crypto' era. i used to think, well the 'serious' stuff is stocks, PMs, RE, etc., but crypto is a 'shitcoin', a 'gamble'. but infact, it recently dawned on me, its (almost) the other way around. everything is a 'shitcoin'. your real estate is a 'shitcoin', and can get 'rugged' with crime rates, or tax band shifts, or legislative changes with the sole purpose of winning populist votes.…

rugged doesn't seem the right word. A rug pull represents the person creating and controlling a thing deciding to reveal it to be a scam and cash in at the expense of the suckers. Things like that tend to be illegal in the analogs you talk about.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#42

Post by monkeydust »

After trying to trade the cycles I gave up and stuck some key currencies on a hard wallet put it somewhere safe and told my wife. My kids will either thanks me or wonder what the heck I was thinking in the future. Worth it for pure asymmetric payoff scenario and just to have some skin in the game. All imho and not advice!

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#43

Post by jsjohnst »

webdevver wrote: post #25

its kind of fun now, in the 'post crypto' era. i used to think, well the 'serious' stuff is stocks, PMs, RE, etc., but crypto is a 'shitcoin', a 'gamble'. but infact, it recently dawned on me, its (almost) the other way around. everything is a 'shitcoin'. your real estate is a 'shitcoin', and can get 'rugged' with crime rates, or tax band shifts, or legislative changes with the sole purpose of winning populist votes.…

> i'm actually not sure which is more risky: holding bitcoin or real estate

Both can have wild swings in valuation, but at the end of the day, you still hold something by owning real estate.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#45

Post by greyface- »

jsjohnst wrote: post #43
webdevver wrote: post #25

its kind of fun now, in the 'post crypto' era. i used to think, well the 'serious' stuff is stocks, PMs, RE, etc., but crypto is a 'shitcoin', a 'gamble'. but infact, it recently dawned on me, its (almost) the other way around. everything is a 'shitcoin'. your real estate is a 'shitcoin', and can get 'rugged' with crime rates, or tax band shifts, or legislative changes with the sole purpose of winning populist votes.…

> i'm actually not sure which is more risky: holding bitcoin or real estate Both can have wild swings in valuation, but at the end of the day, you still hold something by owning real estate.

> at the end of the day, you still hold something by owning real estate

Unless you fail to keep up on rent^Wproperty taxes, in which case you will find that someone comes to take it away from you.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#46

Post by testbjjl »

wongarsu wrote: post #36
webdevver wrote: post #5

Earlier quoted context omitted.

i reckon this time it will touch $30k before hitting new high of $200k

It seems to have stabilized around $70k. Obviously after it had "stabilized" at $90k for two months, so it might drop further. But if I had to submit a bet I would guess it will fluctuate around the current level for another couple months before some random event catapults it to $150k, followed by the next "crash". But with the current political volatility anything might happen

The anything includes gold continuing to rise and the dollar continuing to fall as countries continue to sell dollars and dollar denominated assets because of self enriching, petty policies. Why trust anything this administration says, especially as news is driven by an investigation into a cabal of pedophiles and things are decided as they are considered in real time, emotionally. This is what people wanted, I guess.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#47

Post by jqpabc123 »

derektank wrote: post #17
jqpabc123 wrote: post #2

The myth that bitcoin is an effective store of value (aka "digital gold") has just died. The proof is available in your crypto wallet. Real gold bullion has now been fully "digitized". You can buy and hold real bullion without taking delivery, without transactions fees and without dealing with tbe schenanigans of unregulated markets and manipulators. Over the past year of unprecedented marketplace turmoil and upheava…

I’m a crypto skeptic but the benefit of bitcoin over gold has never been ease of transaction. The benefit is that regulators and governments are generally unable to confiscate bitcoin. The same is not true of gold, particularly if you do not take final delivery.

The benefit is that regulators and governments are generally unable to confiscate bitcoin.

The US government can and has seized a lot of bitcoin so this is another crypto myth that has died.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#48

Post by ArtTimeInvestor »

rossdavidh wrote: post #35
ArtTimeInvestor wrote: post #22

So a minus of about 45% from the all time high three months ago? If this is it for this cycle, that would indicate the volatility of Bitcoin went down significantly. Taking a look at the Bitcoin to USD price chart, I see roughly these numbers: 2013: $1,100 -> $238 = -78% 2017: $19,000 -> $3,500 = -82% 2021: $68,000 -> $16,000 = -76% It will be interesting to watch if the volatility really stays this low suddenly. If…

As others have pointed out, it also runs up less in percentage terms during the resurgence. If, as you posit, Bitcoin is becoming less volatile, then the question will be what the demand looks like when it is no longer a way of getting exposure to potential large upside. In other words, a lot of people have bought it in the hope that it will double or more. How many will buy it in the hope that it doesn't go down? Pe…

In the limit, that would mean that Bitcoin's volatility reflects only the savings rate of people.

That would mean that Bitcoin is pure monetary value. In that case, it would suck out all the monetary premium from other assets like real estate, equities and gold. The monetary premium in those is probably a few hundred trillion. So by that time, Bitcoin's price should be 2 orders of magnitude higher than today.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#49

Post by kkfx »

throwaway1492 wrote: post #40

It’s my personal belief that btc has been the currency of foreign influence operations ie for paying media figures to influence popular opinion and sentiments. I believe this can be most readily seen in the US right and maga. The messaging is all very consistent across YouTube, x, fox, news nation etc across weeks, months and years. Brexit was a proof of concept, certainly it has spread.

The Bitcoin genesis is certainly unclear; a FLOSS project is proudly published by those who create it and certainly don't want to remain anonymous, but the super-value of BTC over time has been driven by substantial criminal activities, not exactly US nor pro-US. The first ones were indeed US "ally", the D-Company that sold drugs for BTC to arm Al-Qaeda by selling BTC for weapons and explosives, which the sellers were happy to accept because they could sell them for various nations' fiat currencies to D-Company customers, laundering it well and without having to carry around pallets of unmarked bills, which are easy to seize during travel. Yes, Al-Qaeda was pro-US kleptocracy, certainly not pro-American people, see https://css.ethz.ch/content/dam/ethz/special-interest/gess/c...

But then China also used them to smuggle Fentanyl into the US, and this late revenge against the East India companies that invaded it with opium so long ago, on the wrong subject (since it was the UK that started the Opium War and the US helped and was largely helped by China, which paid for e.g. the development of the railway networks in the US, a history forgotten by most), it proved that BTC as a tool is neutral. Its use by Venezuela, Iran, and North Korea confirms this.

So I suspend judgment, I don't trust the genesis, I read and encounter various problems https://blog.dshr.org/2025/09/the-gaslit-asset-class.html but I am not completely convinced by your analysis and honestly, I am very much in favor of the end of the banking system and the current financial model for the development of humanity, and it matters little who brings about this event; they are the enemy of my enemy in any case.

Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks

#50

Post by jqpabc123 »

mothballed wrote: post #27
jqpabc123 wrote: post #2

The myth that bitcoin is an effective store of value (aka "digital gold") has just died. The proof is available in your crypto wallet. Real gold bullion has now been fully "digitized". You can buy and hold real bullion without taking delivery, without transactions fees and without dealing with tbe schenanigans of unregulated markets and manipulators. Over the past year of unprecedented marketplace turmoil and upheava…

>You can buy and hold real bullion without taking delivery Not your vault, not your gold.

True. Physical possession is an option with real gold --- as is stuffing fiat under your mattress.

But even if you don't choose this route, I would argue that a fully regulated vault is a safer and more reasonable option than one that isn't.

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