re: Is crypto dead?

That's not a meme.

CZ predicted in December 2020, when Bitcoin was trading at around $19,000, that it would break $100K to $101,000 and possibly capitulate to around $85,000. He suggested the drop to $85,000 would cause bearish headlines despite a Bitcoin rise to much higher prices.

So here is his tweet from yesterday......

"Waiting for the new headline: #Bitcoin "CRASHES" from $1,001,000 to $985,000.

Save the tweet."

CZ is basically saying this same scenario will play out again when Bitcoin is at an order of magnitude higher price of $1M. This is normal Bitcoin price action and the same old Sky Is falling reactions.

Agree. The ignorance of Bitcoin is staggering. But this same ignorance is what predictably causes Bitcoin to whipsaw in price. I can't predict which way Bitcoin will trend or spike in the short term, but I can pretty much guarantee that Bitcoin will gain significantly in the long term. With that knowledge I open positions in BITX on pullbacks and downtrends and then just wait until I make money on them. I have 3 trades with significant unrealized losses and another trade basically flat from yesterday. They will all pay off at some point and I'll make money off them and more trades just like them.

It's possible, probably likely that we will see a V shaped recovery pretty soon.

If you have to ask is crypto dead you 100% shouldn't be trying to invest/make money in crypto.

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can't predict which way Bitcoin will trend or spike in the short term, but I can pretty much guarantee that Bitcoin will gain significantly in the long term. With that knowledge I open positions in BITX on pullbacks and downtrends and then just wait until I make money on them.

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Are you sure you understand how BITX works? Even if you believe BTC is going up in the long run, there is absolutely no guarantee that BITC will go up over that timeframe. Bitcoin is up 25% over the last year while BITX is essentially flat. Everything about the way BITX is structured is designed for daily trading, not buy and hold investing.

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Because it does this every cycle. LOL

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Funny? Funny how? How is it funny to see a 20% drop?

And what is the “cycle”? What is it about the current economic environment that would cause bitcoin to drop 20%?

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Funny? Funny how? How is it funny to see a 20% drop? And what is the “cycle”? What is it about the current economic environment that would cause bitcoin to drop 20%?

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Zoom out a little bro

Check out the price and hit “all” and you will see the four year trends

LINK /

Check out where BTC was at this time last year and the year before

I've spent many hours talking about all aspects of Bitcoin here and enjoy doing so for those who are actually curious.

You are not curious. You are interested in the mindless back and forth (which i also engage in from time to time).

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What is going to hurt crypto is if there is economic turmoil again and crypto tracks the normal market. It's supposed to be a hedge against this, but we saw in 2020 it tracked the normal market relatively in kind. If we have another major recession and it crashes with the stock market, I don't see how the "it's a hedge against inflation" talking point can be uttered with any sincerity.

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This is why folks who think crypto is dumb are right

If crypto had an actual use in the marketplace, a true alternative CURRENCY, it could very well be a place where investors run to in difficult times to remain liquid. But, it's not. It's nothing but an electronic token with no value whatsoever.

I mean, no shite it follows the market. Shockingly, when the market is going well, people feel good financially and are looking to invest, there's plenty of money to gamble on crypto. The stock market constricts? Ain't nobody looking to invest in something as incredibly risky and useless as crypto.

This whole memecoin thing going on is the absolute perfect presentation of what's wrong with crypto. In a matter of 5 minutes a person can lose millions of dollars while a creator pulls in dozens of millions in 5 minutes. It's a fricking scam.

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I've spent many hours talking about all aspects of Bitcoin here and enjoy doing so for those who are actually curious.

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So you knew bitcoin would drop 20% but didn’t issue a dire warning here!? I don’t see a single thread started to give the warning.