4 ms·

Ah, the Bloomberg and TechCrunch bottom signals I’m looking for.

KasianFranks 8y ago
Precisely
verdverm 8y ago
A year ago, I was explaining to family why crypto was a thing. This year I'm explaining why it crashed and why it's to be avoided. Also, why blockchain and crypto are not the same thing. There are many who participated in the 2017 speculation that will actively avoid and advise against participation this go around. The bubble popped and it will be many years before we see worthy investments take shape.
- wpietri 8y ago
  I think another factor is that we've passed peak uncritical press coverage. Never again will there be as large an influx of media-driven naive optimists who think that the price will only go up.
  - xenihn 8y ago
    That isn't true, it depends on the whims of the people who determine what those optimists say and write.
    - wpietri 8y ago
      I am pretty clearly offering an opinion here, so I'm not asserting that it's true. But the naive optimists I'm speaking of here were the greater fools [1] who bought Bitcoin as it was rising. Journalists are generally cynics. [1] https://en.wikipedia.org/wiki/Greater_fool_theory https://en.wikipedia.org/wiki/Greater_fool_theory
  - mancerayder 8y ago
    There's also been a crackdown on crypto advertisement by the ad-tech giants. Further there's a more aware SEC and I imagine there'll be a few examples made to make everyone think twice.
- ryanSrich 8y ago
  To think anyone can predict the market (good or bad) is foolish. You could easily flip your statement in support of crypto and it would be equally meaningless. Having participated in crypto since 2013, the only thing that I (or anyone else for that matter) knows is that _no one_ has a clue what they're talking about it. It's pure speculation in both directions. We could see BTC go sub $1k in Q1, or we could see it hit another ATH as those that got left out in 2017 FOMO in. No one, not a single person, has any idea.
- inersha 8y ago
  I never understand why people try to separate blockchain and bitcoin.
  - userulluipeste 8y ago
    Probably because Blockchain got also used outside cryptocurrencies and furthermore because there are now cryptocurrencies that are not Blockchain-based?
dole 8y ago
Bloomberg's always Chicken Littling cryptocurrency and backslapping the large investment firms.
MentallyRetired 8y ago
Reminds me of the time they called my website dead, but it's still alive and generating revenue 10 years after the article...
xiphias2 8y ago
They started already a few weeks ago. But right now the calm days are starting. The next half year or more will be about people forgetting about Bitcoin.
Steko 8y ago
It's always good news for Bitcoin!

Precisely

A year ago, I was explaining to family why crypto was a thing. This year I'm explaining why it crashed and why it's to be avoided. Also, why blockchain and crypto are not the same thing. There are many who participated in the 2017 speculation that will actively avoid and advise against participation this go around. The bubble popped and it will be many years before we see worthy investments take shape.

wpietri 8y ago
I think another factor is that we've passed peak uncritical press coverage. Never again will there be as large an influx of media-driven naive optimists who think that the price will only go up.
- xenihn 8y ago
  That isn't true, it depends on the whims of the people who determine what those optimists say and write.
  - wpietri 8y ago
    I am pretty clearly offering an opinion here, so I'm not asserting that it's true. But the naive optimists I'm speaking of here were the greater fools [1] who bought Bitcoin as it was rising. Journalists are generally cynics. [1] https://en.wikipedia.org/wiki/Greater_fool_theory https://en.wikipedia.org/wiki/Greater_fool_theory
- mancerayder 8y ago
  There's also been a crackdown on crypto advertisement by the ad-tech giants. Further there's a more aware SEC and I imagine there'll be a few examples made to make everyone think twice.
ryanSrich 8y ago
To think anyone can predict the market (good or bad) is foolish. You could easily flip your statement in support of crypto and it would be equally meaningless. Having participated in crypto since 2013, the only thing that I (or anyone else for that matter) knows is that _no one_ has a clue what they're talking about it. It's pure speculation in both directions. We could see BTC go sub $1k in Q1, or we could see it hit another ATH as those that got left out in 2017 FOMO in. No one, not a single person, has any idea.
inersha 8y ago
I never understand why people try to separate blockchain and bitcoin.
- userulluipeste 8y ago
  Probably because Blockchain got also used outside cryptocurrencies and furthermore because there are now cryptocurrencies that are not Blockchain-based?

dole 8y ago

Bloomberg's always Chicken Littling cryptocurrency and backslapping the large investment firms.

MentallyRetired 8y ago

Reminds me of the time they called my website dead, but it's still alive and generating revenue 10 years after the article...

xiphias2 8y ago

They started already a few weeks ago. But right now the calm days are starting. The next half year or more will be about people forgetting about Bitcoin.

Steko 8y ago

It's always good news for Bitcoin!