Everything got liquidated to get cash, including Gold. Bitcoin surge will come when the banks start to collapse (if the FED and ECB allows this to happen)
Many whales that I know sold their Btc at 10k and they are waiting to step in again, but seems they are still waiting for another dip
Dont worry, bitcoin is here to stay. People who claim it has no intrinsic value have no idea probably what its like to transfer any amount of money with *fixed fee* across borders without any bureaucracy lol. Or to have a currency that does not depend on any country in particular. If chinese miners back off, there will be plenty of others who will step in
Bitcoin came to bank the unbankables, while there's people that believes on it, there would be somebody whiling to buy it
Yes. I was successfully paying for my rent and utilities with BTC. Very convenient.
Are you being ironic?
No, I've been using BTC for 4 years for paying for things. Its a lot more convenient than even card payments. If volatility issue will be resolved anytime soon it would be the perfect payment system for me.
That's a good summary, It also would be worth adding that there is much less real liquidity (in the case of classical stock markets) because on the demand side is for almost 12 years central banks. Bitcoin was in sell-off mode as any assets, it's a sign of panic, but the longterm view is positive for me. Truth is that BTC price is highly manipulated by few hands, but for those who would think that traditional stocks are better, I hope that the lesson a few days ago with Trump's fake tweet and 40% rally up and immediately fall was the proof that these manipulations happen everywhere
In truth, Bitcoin is doing pretty well with -4% YTD against -20% of stock markets, but there is a need to see a long term point of view. If you look for short opportunities, you will be burned as others with a similar approach. Smart people said many years ago that crisis will help BTC to go up, but not during the crisis rather after that once new dozens trillion of stimulus land on banks that will have to take a risk for high-risk reward investment once the dust is settled after the crisis. Those who watched the drop of one most liquid market (OIL) about 75% in two months have no more arguments about high volatility. Next positive thing is that people who were scared by the crisis and did not know if BTC will survive will have another proof that the train runs further. The inflation of BTC is still high, I personally look forward to seeing BTC price after nine years once three next halving happen and the BTC market will not have to absorb so much money due to high current inflation. At the current price is still like ten million dollars every day
Uhm... this is a very interesting situation in terms of game theory. If all countries cooperated and decided to ban Bitcoin unilaterally, then there is no chance and no future for it.
Iran? I'm not saying anything but I must admit that when countries get into disagreements with USA or with Saudis, strange things sometimes happen...
Already in the middle of the gold collapse, it was known that lots of investors had to meet margin calls on their Lombard loans. As for the physical gold/paper gold premium, three of the four big Swiss refineries had to close due to coronavirus. The markup will disappear over time, but I do enjoy seeing bullion trading way over paper.
A very good point. It is about 37 days to halving, and in this time bitcoin will inflate by 460M USD. If miners would sell all their coins, that amount of money would be needed for bitcoin just to maintain this price level. At the current 124 billion market cap, bitcoin is still too small for many institutional investors. At 1 trillion market cap, bitcoin would be both more useful/liquid, and perhaps less likely to get banned.
BTC might be beneficial to the plans of US (hell, who knows maybe US gov itself made BTC). If it has not been banned so far, they likely wont ban it in the next future. The very fact that Bakkt exists might be considered proof that US elites are positive with BTC
You dont take into account BTC holders who spreaded their wealth across hundreds of wallets to avoid popularity.
