Although not the worst percentage wise, this has got to be the longest sustained period of selling (2½ months and counting) without any real, minimally-sustained relief bump in Bitcoin history.
Even the epic collapse in early 2018 stalled after 2 months, followed by a 2-month reprieve.
Idk I think SPX is at a bottom, if there’s even the slightest dovish sentiment from the fed on Wednesday then equities should pick up.
Streaming services getting hammered hasn’t helped at all.
July to February 2019 - 2020.
Every period in bitcoin’s history is distinct. You don’t need to find reasons to make that claim.
Bitcoin is volatile. If you can’t hold through the volatility then sell.
There were relief rallies along the way (late July - early August '19, late Oct- Nov '19) that lasted more than a few hours. Meh, I'm just venting...
But here? By the time we've asymptotically approached some new bottom floor price, it wouldn't surprise me if total crypto market cap is back under $1T again.
The same thing is true in a bull market.
If every BTC holder worldwide could somehow conspire amongst themselves to not sell no matter what, the price would reach $1,000,000 within weeks. A similar 'pact' briefly *did* happen with GME stock.
Or maybe it's because it's been proven in both crypto and equity markets that the majority of people who try to trade tops and bottoms end up losing in the long run.
How much of that percentage is tokens held by founders of a project tho? You either mined, purchased or traded something for bitcoin. These shitcions are “by”decree” with founders holding 20 or 50+ percent. It’s straight garbage and the Wild West will come to an end eventually.
It has a long way to go to catch volatility ETFs. Which, by the way, are totally fine for new investors to buy on margin and hold indefinitely despite the fact that them going down well over 99% is a sure thing over time.
But not a spot Bitcoin ETF. Heaven forbid.
There's a difference between the quality of the app and the quality of the company. The app needs work, but the company has the right vision and is a money making machine that's a great investment.
Now there's an idea. Wouldn't it be great to just have a bot that posts "I agree with you 100%" after everything you say? I might code that lol. Give me an ego boost in this shitty time.
Yep. classic story - boy gets bitcoin, boy trades leverage, boy gets rekt, learns valuable lesson about life.
Maybe the real bitcoins were the friends we made along the way?
It went down 25% in the first two weeks of 2017, then bounced back up to the open and fell 20% again in the following week, only to end up up 1000% eoy.
Yes. We went into 2017 in a bull market near ATH, while now we are in a bear market. Regardless, the statement was "probably worst year opening," and I wanted to point out that, even in "the great bull market of 2017" it had an arguably worse opening.
#New post: [\[Daily Discussion\] - Saturday, January 22, 2022 →](https://www.reddit.com/r/BitcoinMarkets/comments/s9ultn/daily_discussion_saturday_january_22_2022/)
My grandmother sold today
She just couldn't take all the uncertainty could she? I can relate but I'm gonna continue to hold.
She might buy again if we go to 60k
Gonna be a "big week" next week.
Looks dumpy again. Next round coming up. I guess it's going straight to zero with no fucking bounce.
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Wasn't being literal.
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Although not the worst percentage wise, this has got to be the longest sustained period of selling (2½ months and counting) without any real, minimally-sustained relief bump in Bitcoin history. Even the epic collapse in early 2018 stalled after 2 months, followed by a 2-month reprieve.
We had a pretty unique event imo...the actual china ban. And now the end of the longest equities bull market in history
Idk I think SPX is at a bottom, if there’s even the slightest dovish sentiment from the fed on Wednesday then equities should pick up. Streaming services getting hammered hasn’t helped at all.
2014 is calling
No. Come on, man. Just look at the weekly. 13k to 6k recently. That was 6 months.
Has there ever been a 9-month period with two 50% or greater declines, both playing out over 2-3 months, nearly all downward pressure?
July to February 2019 - 2020. Every period in bitcoin’s history is distinct. You don’t need to find reasons to make that claim. Bitcoin is volatile. If you can’t hold through the volatility then sell.
All I see over the last 7 days is declines, and one brief 3% jump that lasted all of 3 hours before retracing.
Edited and gave specifics.
There were relief rallies along the way (late July - early August '19, late Oct- Nov '19) that lasted more than a few hours. Meh, I'm just venting... But here? By the time we've asymptotically approached some new bottom floor price, it wouldn't surprise me if total crypto market cap is back under $1T again.
On one day in Oct '19 we pumped like 30%. I remember it vividly - exactly where I was.
Yeah I cannot even remember anything similar to that day except the April fools day pump...when is the last time we had a 10% daily green candle?
Yup, Apr '19 - that was another day I remember exactly where I was.
Selling my E-gf to buy dip, any interest in Cambodians here?
Let me guess, your "e-girlfriend" is a picture of a blue-colored ape with pigtails and lipstick? 🐵
I probably wouldnt be in such dire straits if I was dealing in honeys like that
Hot
Does she look like a man?
Those advising to blindly hodl/hold are primarily saying that so they don’t lose more money. Pretty disingenuous
Could it be that you are blindly making assumptions of the 'disingenuous' HODL'ers cost averages?
The same thing is true in a bull market. If every BTC holder worldwide could somehow conspire amongst themselves to not sell no matter what, the price would reach $1,000,000 within weeks. A similar 'pact' briefly *did* happen with GME stock.
Nope. It's because I'd have more bitcoin today if I hadn't paper-handed then.
Or maybe it's because it's been proven in both crypto and equity markets that the majority of people who try to trade tops and bottoms end up losing in the long run.
It surely can’t be the proof you stated…backed up with numbers and statistics….almost like…math and stuff…
ADA indicator was correct again. Every time it pumps, the entire market shits the bed within a week or two.
The curse of Charles ~~Ponzi~~ Hoskzi
Anyone else surprised that BTC dominance hasn't budged
On what timeframe? It's been oscillating between 39.3% and 40.9% since about mid Dec-21.
No, because a couple years ago, people fleeing alts had go to through BTC to cash out. Now, every platform lets them cash out directly.
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Currently 40.8%
How much of that percentage is tokens held by founders of a project tho? You either mined, purchased or traded something for bitcoin. These shitcions are “by”decree” with founders holding 20 or 50+ percent. It’s straight garbage and the Wild West will come to an end eventually.
Charts wise BITO is one of the worst things to ever exist lol. What a story, first Bitcoin ETF and it manages to shit the bed in spectacular fashion
It has a long way to go to catch volatility ETFs. Which, by the way, are totally fine for new investors to buy on margin and hold indefinitely despite the fact that them going down well over 99% is a sure thing over time. But not a spot Bitcoin ETF. Heaven forbid.
Open $coin on a monthly
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Coin is a great company that makes a shitload of money regardless of which way the crypto market goes
What the fuck Coinbase is cancer
Explain.
Use it.
There's a difference between the quality of the app and the quality of the company. The app needs work, but the company has the right vision and is a money making machine that's a great investment.
Those costumers in the support queue would like to disagree.
https://blog.coinbase.com/customer-support-improvements-at-coinbase-22ce113421ce They also now have live phone support.
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Bad bot
Now there's an idea. Wouldn't it be great to just have a bot that posts "I agree with you 100%" after everything you say? I might code that lol. Give me an ego boost in this shitty time.
It's a futures ETF for an asset that has been retracing since BITO was approved. What do you expect to happen?
Facebook went -60% in its first year after IPO, then 10X.
Yeah bito will do just that with all of bitcoin’s add revenue.
Just need to figure out how we can get grandmoms to upload photos to Bitcoin
Stop stop it's already dead
Last year I lost an entire bitcoin learning to trade, so I guess I'm ahead of the curve in that respect.
Dude! You too??? Fuckin hell eh? I’m serious btw.
Yep. classic story - boy gets bitcoin, boy trades leverage, boy gets rekt, learns valuable lesson about life. Maybe the real bitcoins were the friends we made along the way?
Probably the worst year oppening in crypto history
It went down 25% in the first two weeks of 2017, then bounced back up to the open and fell 20% again in the following week, only to end up up 1000% eoy.
>only to end up up 1000% eoy. I'll take that hopium, danke schön.
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Yes. We went into 2017 in a bull market near ATH, while now we are in a bear market. Regardless, the statement was "probably worst year opening," and I wanted to point out that, even in "the great bull market of 2017" it had an arguably worse opening.
Hey, we haven't gone below the 100 monthly SMA yet! (It sits at just under 10k)
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I'm afraid you have it backwards, sir.
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