4 ms·

i reckon this time it will touch $30k before hitting new high of $200k

by webdevver 8mo ago

dauertewigkeit 8mo ago
Could be, but we don't know what is driving this meme magic. Could be totally organic. Could be not.
- tim333 8mo ago
  We have a pretty good idea. Bitcoin holders and miners promote it. Punters buy because it's going up until it peaks and then they sell because it's going down. The a value is approx <amount average person invests in bitcoin> x <number of people> / <number of coins (~16 mil)> It goes up over the cycles as the number of people in it goes 1 mil, 10, 100, 1000 etc.
benj111 8mo ago
Can't tell if genuine or sarcasm ...
- webdevver 8mo ago
  very broad extrapolation of the previous two 'cycles'. after a peak, it tends to crash to 20-30% of previous peak value, goes sideways for a year or two, then goes up to 2x its previous peak. the 'four year cycle' is perhaps moreso the 'US presidential cycle'.
  - adastra22 8mo ago
    Bitcoin has already largely separated from the 4 year cycle.
  - benj111 8mo ago
    So you were being serious. You know the quoted figures are based on nothing...
wongarsu 8mo ago
It seems to have stabilized around $70k. Obviously after it had "stabilized" at $90k for two months, so it might drop further. But if I had to submit a bet I would guess it will fluctuate around the current level for another couple months before some random event catapults it to $150k, followed by the next "crash". But with the current political volatility anything might happen
- testbjjl 8mo ago
  The anything includes gold continuing to rise and the dollar continuing to fall as countries continue to sell dollars and dollar denominated assets because of self enriching, petty policies. Why trust anything this administration says, especially as news is driven by an investigation into a cabal of pedophiles and things are decided as they are considered in real time, emotionally. This is what people wanted, I guess.

i reckon this time it will touch $30k before hitting new high of $200k

dauertewigkeit 8mo ago

Could be, but we don't know what is driving this meme magic. Could be totally organic. Could be not.

tim333 8mo ago
We have a pretty good idea. Bitcoin holders and miners promote it. Punters buy because it's going up until it peaks and then they sell because it's going down. The a value is approx <amount average person invests in bitcoin> x <number of people> / <number of coins (~16 mil)> It goes up over the cycles as the number of people in it goes 1 mil, 10, 100, 1000 etc.

benj111 8mo ago

Can't tell if genuine or sarcasm ...

webdevver 8mo ago
very broad extrapolation of the previous two 'cycles'. after a peak, it tends to crash to 20-30% of previous peak value, goes sideways for a year or two, then goes up to 2x its previous peak. the 'four year cycle' is perhaps moreso the 'US presidential cycle'.
- adastra22 8mo ago
  Bitcoin has already largely separated from the 4 year cycle.
- benj111 8mo ago
  So you were being serious. You know the quoted figures are based on nothing...

wongarsu 8mo ago

It seems to have stabilized around $70k. Obviously after it had "stabilized" at $90k for two months, so it might drop further. But if I had to submit a bet I would guess it will fluctuate around the current level for another couple months before some random event catapults it to $150k, followed by the next "crash". But with the current political volatility anything might happen

testbjjl 8mo ago
The anything includes gold continuing to rise and the dollar continuing to fall as countries continue to sell dollars and dollar denominated assets because of self enriching, petty policies. Why trust anything this administration says, especially as news is driven by an investigation into a cabal of pedophiles and things are decided as they are considered in real time, emotionally. This is what people wanted, I guess.