Is it correct to assume that when mtgox users get their refund next summer and sell their bitcoins, then the price of bitcoin could get its biggest drop in its history?
Is it correct to assume that when mtgox users get their refund next summer and sell their bitcoins, then the price of bitcoin could get its biggest drop in its history?
Oh fuck off
what?
All shitcoins going to 0. This is good. Bitcoin is just preparing for the new bull run
Well, everyone can buy more cheap black friday coins. I don't believe this trend. It is purely a bear trap. Last year run will repeat soon.
I do not believe we will see a bull run before the mtgox users spend their refund next summer
I would like to ask a question to the long term hodlers governing this thread, the ones with the hat: How down do you think the btc/usd price can go before next ATH?
Hmmm I thought we were done at $3600.
Next support is $2,900 to $3,000. Should be heavily defended.
If this doesn't bounce, were basically screwed and all crypto with it
Yeah this is pretty shocking, I thought after seeing 2014/15 that nothing could get that bad. but, this drop is the worst I can remember purely because of the lack of buying volume. not 1 damn decent bounce yet. I don't know what to make of it, but its not good.
I am starting to think that the whales are probably even more scared than we are. Maybe no one is going to save us this time. At least not yet.
Yeah I've never seen it like this before.
I think most of the people are waiting for the right moment to buy their hats
Looks like the scammers at Bitmain are trying to rig the market above their cost of production now. This is how you get the long, drawn out bear markets. They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time. Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to. If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.
If the chinese Bitmain have something to do with this price dip it looks like they still have some margin to dip it a little more based on their last Antminer s15 and its 28TH/s with 1596W and 0.08c/kwh (China average electricity price)
mtgox will go live again this 2019 and refund the customers
https://www.mtgox.com/Mtgox will refund (partially) their customers in 2019? Yes, looks like it will happen finally.
But... going live again? What do you mean?
I mean maybe they will not go "live" but they will not be in bankruptcy state anymore. In any case it looks like it will be a huge injection of bitcoins to the marked and a very good opportunity to buy cheap
When btc gets a dump, and the same microsecond the alts get a dump as well, it cannot be people being greedy/fearful, right? it must be a coupling in some form to the mastercoin, btc?
im not saying anything about the intrinsical value of an alt itself, nor if its a good or a bad alt, but just these fluctuations intrigue me and i dont really understand...
Not sure I understand your question : the answer seems self evident :
There is trading constantly on multiple exchanges 24/7, every second of the day. The alt prices (on coinmarket cap or whatever) are based on 'last trade' for a number of exchanges. The trade is in BTC, that is converted to $$ in the quote. If BTC $ price changes, then so must the alt $ price, even if there is no further trade.
If a bid/offer is hit then the BTC price changes as well.
i appreciate the explanation, and it seems fair in regards to $$ value, but thats not what i meant, and thats also the part i dont understand.
When bitcoin makes a pump or a dump, the alt varies in BTCprice as well, and thats strange to me. (as your explanation (as far as i understand) states the $$ price must go up and down seems logic as the BTC value varies in $$ value. That makes sense. But why does the BTC value of the alt change so much as well?? Thats double... For instance: when BTC takes a drop of 10% in $$ value, the ALT makes adrop of 10% in $$value (logic), AND a drop of 10% in BTC value as well (unlogic), makes a total devaluation of that coin of 20%..)
The user BTCMILLIONAIRE explained what could be the cause: When it is clear the BTC is in a downtrend you could get profits by shorting altcoins for fiat:
Furthermore, if there's any indicator that Bitcoin will be tanking it would be fairly easy to short alts for fiat and then rebuy alts at a cheaper per BTC rate with cheaper Bitcoins (obviously comes with elevated risks).
Basically, Bitcoin down = make double the money by shorting shitcoins. So the connection between futures tanking Bitcoin and altcoins tanking even more is crystal clear once you crunch the numbers.
Right now trying to do this but nothing happening for any one
Most of the users in this thread did it a few years ago..
