Bitcoin is Tanking --how low will it go?

[Graybeard]

Hold on to your socks!

 

[T J Tutor]

I am not a digi coin guy, but I do watch it from time to time.

I saw it reach a new height recently, so what's the cause of this dramatic decline?

 

[Graybeard]

I noticed that the price was driven up during Chinese business hours as of late --The Chinese dumped last night?
25% in 24hrs downward decline is epic
It's not like this hasn't happened before ...

 

[T J Tutor]

I suspect digi coins are more susceptible to manipulations by nations than traditional currencies.

 

[Honeybadger]

I suspect digi coins are more susceptible to manipulations by nations than traditional currencies.

But what manipulations can make Bitcoin to drop $8k in 1 day?

 

[T J Tutor]

But what manipulations can make Bitcoin to drop $8k in 1 day?

As Graybeard said, China may have been driving the value up before making a big dump. Why, I can't say, but they do love destabilizing U.S. interests. Especially during a time when we are vulnerable as we are for the next 8 days until inauguration.

 

[Graybeard]

So, this morning Elon Musk decides to play (the pump and dump game?)
Check the news and check the numbers ...

 

[Hooreily]

I remember him mentioning Dogecoin, a currency that went through the roof.

So, this morning Elon Musk decides to play (the pump and dump game?)
Check the news and check the numbers ...

 

[Graybeard]

Better hurry up and buy before it drops again
Digital currency casino.
​

 

[Honeybadger]

Related but how can you buy bitcoin in cash?
Looking for a trusted global network to buy BTC from

 

[Graybeard]

You mean --"real cash' --that you can hold in your hand and count --like banknotes euros, dollars?
There are no bitcoin bank branches other than some ATM machines.
If you had a wallet account maybe a bitcoin ATM could take the cash and convert it.
Of course, then the cash is a 'known' amount and traceable (possibly).

 

[Honeybadger]

Someone from Russia told me that
You can meet people in parking lots,
Hand over banknotes
The other person transfers BTC to your account using their cellphone
Right there in front of you
Is that a common thing?

 

[Graybeard]

I'd bring a loaded pistol
Possible IDK

 

[JP Sanchez]

if it breaks 33500 might go to 25k... Pull back on the monthly says we might have more downside

 

[Graybeard]

Let the bodies hit the floor --the knife is still falling

just found a stock for a bitcoin mining operation when the floor hits time to buy maybe ...

 

[Graybeard]

still in free fall

 

[PaidPoints]

Money does not grow on trees. You don't have to be expecting magic to happen. The volatility of that asset disqualifies it to be acceptable as a money. Starting a business and growing it is what you should do, not live in a bubble.

 

[Graybeard]

Bitcoin grows from GPU cards.
I bet ol' Mellon Husk is having a panic attack today --1/2 of TSLA profit last QTR was Bitcoin
Remember: Yesterday's hero is tomorrow's shit-head
unfortunately I own BATT

Amplify Lithium & Battery Technology ETF (BATT) Holdings - Yahoo Finance

View Top Holdings and Key Holding Information for Amplify Lithium & Battery Technology ETF (BATT).

finance.yahoo.com

that ETF is 6.9% TSLA
BATT will suck ass Monday ...

 

[azgold]

Remember: Yesterday's hero is tomorrow's shit-head

I've never heard that saying but I like it.

BATT will suck ass Monday ...

Was it as bad as you thought it would be?

 

[Graybeard]

Was it as bad as you thought it would be?

Surprisingly, no