Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
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Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#2The 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 upheaval, "real gold" has risen just as dramatically as "digital gold" has fallen.
Only one myth left standing in the way of bitcoin's total demise --- the idea that PoW is a reasonable and effective basis for financial markets/transactions. Are you willing to put real money on it?
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#3Last time I heard bitcoin was in free fall and doomed it was at $18K...
(I dont own any bitcoin and believe the world would be a better place without cryptocurrencies)
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#4It's converging back towards its intrinsic value.
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#5Last time I heard bitcoin was in free fall and doomed it was at $18K... (I dont own any bitcoin and believe the world would be a better place without cryptocurrencies)
i reckon this time it will touch $30k before hitting new high of $200k
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#6Hasn’t bitcoin repeatedly dropped 70%+ from
record highs and then surged over that high again within a year?
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#7Tulip mania
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#8Hasn’t bitcoin repeatedly dropped 70%+ from record highs and then surged over that high again within a year?
Yes. Many things which happened before are still noteworthy when they happen again.
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#9Hasn’t bitcoin repeatedly dropped 70%+ from record highs and then surged over that high again within a year?
Yes it has.
But as they say, past history is no indication of future performance.
Current economic conditions are anything but "normal" by recent historical standards. A good indication of this is the fact that "real gold" has risen just as dramatically and at the same time as "digital gold" has fallen.
Re: Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
#10Last time I heard bitcoin was in free fall and doomed it was at $18K... (I dont own any bitcoin and believe the world would be a better place without cryptocurrencies)
i reckon this time it will touch $30k before hitting new high of $200k
Could be, but we don't know what is driving this meme magic. Could be totally organic. Could be not.