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Crypto should be a punt maximum. Its definitely not a investment!
@poorinvestor. "Crypto has become too big to be manipulated"
So how did Nav move the entire S&P500 - which is 20x bigger than the whole of crypto? He was just on guy, self-made. To my knowledge, the exchange API's never changed after that event. C'mon, stocks are manipulated every day in clear view. I'd bet it's 10x more widespread in crypto land, because it's not even regulated.
FYI. I'm not knocking it. It is what it is.
Toad, that happened in 2010. No relevance to BTC in 2022. Crypto has become too big to be manipulated by criminal gangs. The only people that can manipulate it is that 5 percent I mentioned yesterday. If you consider that 5 percent as criminal gangs (which they are lol) then i'll agree.
"Nobody wants Bitcoin for any other reason then to get a sizeable return in fiat currency."
True. But that's also the only reason that 99.99% of people invest in stocks.
Everything about Bitcoin is that of a ponzi scheme. Ramp it up sell out and get fiat. Nobody wants Bitcoin for any other reason then to get a sizeable return in fiat currency.
@poorinvestor. "Criminal gangs don't have the money to manipulate BTC"
Tell that to Navinder Sarao, who the FBI claimed, caused the Flash Crash. FYI: that's a good read. That was just one guy, sitting in his bedroom in West London. After Flash Crash, every hedge fund and their dogs are doing the same.
Toad, you need to educate yourself regarding BTC, this is not 2018 any more. BTC has really moved on. Criminal gangs don't have the money to manipulate BTC, it has become too big. Yes they use it to launder but to manipulate it? come on mate.
@K3VMC: I think you're right, that credit cards have more fraud on the normal scale. But the 'criminals' are 10 steps ahead. They've worked out that they can make money by straightforward manipulation, which is not a crime for BTC, as it's not subject to regulation... and by having the exchange in a remote jurisdiction, there's nothing authorities can do.
BTC Exchanges are 'Bucket Shops' from Jesse Livermore days!
The bitcoin price is determined by a linked network of bucket shops!
It is what it is. I'm not an idealist. I still trade it.
All markets are down today for a due to a ****tail of bad news (Ukraine, inflation, btc retracement and Fed decisions later this week) and expected and imminent bad news. FTSE down 1.74%. Nothing showing in the green on my share watchlist.
Think some of the oilies may be a safe haven for now, some are rewarding PIs with massive dividend pay outs, or cash, or even opening a few shorts, but may be a bit late in the day for that strategy I would imagine.
I dread to think how much taxpayer £££ was lost in fraudulent claims during the furlough scheme
CaneToad
“ Crypto must now be the most lucrative activity going for gangs. Move money directly from joe ordinary into their own pockets and keep that going for a decade!”
Really? Do you include btc in this? I think there is much more fraud in credit cards.
“ Written By: Security.org Team | Published: November 16, 2021
Credit card fraud is an unfortunate fact of life, with hundreds of thousands of Americans falling victim each year.1 This multibillion-dollar crime became even more common during the first year of the COVID-19 pandemic. It's expected to grow as people continue to rely on online shopping and social media, creating many opportunities for scammers to snag their personal information.”
Seeing the amount of money being spent by bankers is one of the reasons I'm confident that BTC will bounce back stronger...Bankers don't want the criminals taking everybodies money - they want it themselves. Disclaimer: I was a banker for 20y...
Yes ct,
Agree with your price range.
I’d start considering hoarding up if this hits 20p I’d still be a reluctant buyer but that would have value, possibly ! ;)
Good luck
so true CaneToad the criminal gangs have made a fortune! weird that the bankers now back it when you think about it isn't it.
"I think saylor is the architect of this downturn."
Romanian Mafia, Triad,... more likely. Crypto must now be the most lucrative activity going for gangs. Move money directly from joe ordinary into their own pockets and keep that going for a decade!
I think that Saylor's average price is $30k, so that's going to be pivotal, but this is now tied to nasdaq and he can't hold up the market single-handed. Personally, I think this will eventually play out in the $10k-$20k. I think ARB is heading much lower, somewhere in 10p-40p.
I think saylor is the architect of this downturn.
Btc goes under 10k and that can create a lot of ops for Micky and black rock
I think Michael Saylor and his billionaire buddies will prop up the bitcoin price and not let it drop below $30-32k. Institutions, hedge funds, HNW individuals bought in at around this price and have the $ to hold it. Wouldn't be surprised if Fed more dovish at next meeting. S&P500 oversold.
agree ct,
when the crash comes it will be way more severe than what is currently unfolding
"Owch. I think the crash has happened Chaebol."
I hope you're right, but I think nasdaq has hardly started. It's only 10% down from the ATH. Once it goes (**if** it goes), the real panic will set in and drag almost everything with it. I expect that most tech stocks are heading down at least to levels of 2y ago. 10p-40p range for ARB I think.
I’m not ruling that out Chaebol. However, this isn’t just about Bitcoin and Argo. When I was following airline stocks in 2020 for technical support levels I didn’t feel that they were being impacted like this. Perhaps it’s because I’m a little late to the crypto space. Maybe it just behaves too differently - it would explain my inaccuracy compared to my other stock picks. I was trading in and out of VAXX last week like a seasoned pro. Perhaps I should just accept defeat. But I have a constant doubt about all this activity and my intuition is unusually accurate. Either it’s just too far outside my comfort zone and I’m plain wrong, or I’m right, but I’m early (hopefully not 4 years early). I’m hoping that’s it, and I just didn’t calculate how the first previous act of the play would go. Is that hopium? Yep. Is it just that? No, it’s my intuition, which I’ve learned to trust above most things, even when everyone is telling me I’m wrong.
However, if I really am wrong (next few months will do) I really won’t be able to post here at all with even a basic hello due to the level of shame! :D
Owch. I think the crash has happened Chaebol.
I'm well over £10k down here, but just bought another £2k under 0.63 to bring by average down to around 0.85. May be stupid but I still have hope.
Adele,
Lol what you’re saying is what a lot of bulls say just before the big crash comes.
The only good thing about btc unlike Argo is you know eventually it will come back. I learnt a lot during the bear times from 2017-to October 2020 with btc. Eventually it will come back, imho this won’t be until next halving or a little time after.
Make hay with all my shorts and then hopefully pick off some good stock wins at all time lows and then wait, that’s the plan lol
ARB 56P
CHAE
GLA
Last time I predicted BTC would do anything it was that it would hold $40k. That went well… :-/
I went through my charts so many times after that capitulation, and yes I still think something is “off” about all this, just like I felt something was “off” about something else for completely different reasons throughout 2020… I know what that led me to: FACTS.
Something is off about all this, too, imo… so yesterday, in my confused and irritated state, I looked for what I thought would be the new lows for BTC - $33,383. I think that was the number. Anyhoo, it was low $33k-ish.
We just bounced off the $33k range, albeit not in a meaningful way yet… soooooo, you’ll probably want to sell everything after reading that. ;D LOLOLOLOLOL
FYI I’m HODLing my way through this nonsense, bloodied and beaten down as I am, because I maintain that something is “off”. I know I’m right about this! Everything that’s happening right now doesn’t feel organic to me, like natural market forces doing what they do and technical breakouts and breakdowns happening as they do. No, there’s something else in play. Think it’s time to make myself a sturdy tinfoil hat… I may need it for a while.
Have a good week everyone. ;)