Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin Has Longest Losing Streak Since August in Bruising Week

bloomberg.com

Post reply on HN
Print view View original

51–60 of 105 posts

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#51

Post by _glass »

Ajedi32 wrote: post #21
mgh2 wrote: post #6

Quantum fears: https://news.ycombinator.com/item?id=48375692

Are there other cryptocurrencies that use quantum safe cryptography that aren't being affected by the downswing?

You could look at only two niche blockchains, QRL and ABEL, and they are both affected. Algorand is the most established L1 with a quite developed migration plan (https://algorand.co/technology/post-quantum) but also not really thriving. I think for Bitcoin in the longterm it is a massive risk psychologically, because what to do with all of the locked in value, that cannot be migrated. My guess is that the market panics and security breaks down, because it is not worth it anymore to run that many nodes. Best time to buy would be then and hope it recovers. It is actually a big chance to move just to another L1 which migrates. Those risks are all priced in.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#52

Post by 4fterd4rk »

ecshafer wrote: post #39

Bitcoin doesn't really have any coherent reasoning behind it, that I can tell. Other investments I can have a theory (which may be wrong) and see it work. I can buy gold/silver to hedge weaker currency. I can believe a stock is going up (or the market in general). I can buy bonds. I can do Forex or Commodities based on whatever feeling if I really want to lose money. But Bitcoin doesn't really seem to correlate with…

That's circular logic on the gold/silver. You basically say gold/silver holds value because it holds value. Bitcoin and other crypto is really no more illogical than precious metals. Precious metals have a few relatively minor uses for industrial applications but really they're valuable because we've all agreed they're valuable, no different than Bitcoin.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#53

Post by jondwillis »

pyvpx wrote: post #43
OutOfHere wrote: post #33

Earlier quoted context omitted.

You clearly must not be familiar with its cycles.

Is bitcoin a commodity? What’s driving the cyclical nature of the price discovery for entries on a global ledger?

Halvings? I guess?

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#54

Post by canada_dry »

ecshafer wrote: post #39

Bitcoin doesn't really have any coherent reasoning behind it, that I can tell. Other investments I can have a theory (which may be wrong) and see it work. I can buy gold/silver to hedge weaker currency. I can believe a stock is going up (or the market in general). I can buy bonds. I can do Forex or Commodities based on whatever feeling if I really want to lose money. But Bitcoin doesn't really seem to correlate with…

> Bitcoin doesn't really have any coherent reasoning behind it

Stocks are feeling more and more like this also.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#55

Post by fsflover »

ascendantlogic wrote: post #36

Bitcoin (and crypto at large) goes through these 4 year cycles repeatedly. Each time people claim its dead, "this time is different", etc etc. It peaked at the end of 2024 and now we're in mid 2026...traditionally near the bottom of the cycle. There IS someone in the White House now that seems hellbent on driving the global economy into the ground but until there's definitive evidence that this time really is differe…

> Each time people claim its dead, "this time is different", etc etc

Related: https://www.bitcoinisdead.org/

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#56

Post by stephc_int13 »

Here is a prediction about Bitcoin: there will be a financial crash at some point in the future, maybe it will be the AI bubble, maybe because of oil, shortages, something entirely unforeseen or some combination of those things, but if there is something to know about cycles is that crashes happens.

And because Bitcoin is now old enough that most people understand what it is, the hype has vanished, it won't survive the global fear or losing it all.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#58

Post by readthenotes1 »

tim-projects wrote: post #16

Bitcoin has gone through a number of narratives. A big one was the it was digital gold. Then, gold went up like crazy and bitcoin stagnated and people lost interest. It's still a store of value.. I guess?

Just like beanie babies

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#60

Post by scotty79 »

OutOfHere wrote: post #35
scotty79 wrote: post #30

We are in the middle of every 4 year hole at the moment. Heights and lows are unpredictable but the timing is still solid.

The lows are also predictable in my estimation.

How low will it go in this cycle by your estimates? In my estimate not much lower than that. Baring any catastrophic event, like a pandemic.
Post reply on HN