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  • Bitcoin plunges - losing as much as $2,500 in a single session

    From businessinsider.com

    The price of bitcoin dropped almost $3,000 in early trade on Friday morning sparking fears that a full scale crash of the world's biggest cryptocurrency could be underway. It has since recovered some of those losses, but remains down by close to 10% on the day Early on Friday bitcoin's value was down close to 17%, or $2,650 as investors sold out of the illiquid asset aggressively. Since then it has pulled back, and as of 11.00 a.m. GMT (6.00 a.m. ET) is above $14,000 once again. Here's the chart: As is often the case with large scale moves in either direction for bitcoin, there doesn't seem to be any obvious catalyst ... (full story)

Looks like a pump and dump.
Not a surprise, with all the "promo" in the past few months to fool the public to buy...then someone with money steps in and takes it from all...nothing new on the market.
Everyone can see the chart, but only a few can actually read it.
it was a Stratton Oackmont from Suffolk County back from the late 90's pump and dump
Looks like just the typical crypto price action. If the pattern continues the next peak should be at $60k
20 Pips a day keeps centerlink away
It's either the Wolf of Wall Street striking again or North Korea hackers striking again.
Yeah, time to cash in Christmas bonus...
Quoting PaulDaemon
Looks like just the typical crypto price action. If the pattern continues the next peak should be at $60k
60k? i will buy some ... when it reach 600 lol
trade safe
Quoting PaulDaemon
Looks like just the typical crypto price action. If the pattern continues the next peak should be at $60k
next stop @7k
who bought at 19000???
i bought three at 13850
Quoting honesttrader
i bought three at 13850
Patience.
May fall more...pretty certain. 😱
I'll be buying 7-8-10-11k.
I don't expect less but will be glad to buy.
Beware of robber banks (RB), bad advisors.
Quoting armaros
who bought at 19000???
haha...like they are going to admit to it!!
Looks like bull gone to beef factory😆
Who wants to sell me this thing at $5000 ? I pay cash...with real tangible money...
Don't give up on your dreams. Keep sleeping.
Quoting armaros
who bought at 19000???
They are the "new birds" who just see the profit side, without known the risk side
They are who un-admit the "bubbles" since bitcoin rise that much
Quoting XuMar
{quote} They are the "new birds" who just see the profit side, without known the risk side They are who un-admit the "bubbles" since bitcoin rise that much
for they is this week a "happy xmas week". bitcoin crash brings them this.
If it can fall like this , it can free fall more. Not sustainable to run crypto system using way too much energy and electric
trade safe
Any else on here who were with IC MARKETS they suspended trading over 2 weeks a go and we could not get on ! I lost 10,000 shorting it t it annoy me I wanted to short it at 19,000 . Know we can trade it again the margins gone from 1000 to 3,500 . I have moved my account to Pepperstone ! Who let you trade in increments of 1/10 f a Coin !
Quoting redpants
Any else on here who were with IC MARKETS they suspended trading over 2 weeks a go and we could not get on ! I lost 10,000 shorting it t it annoy me I wanted to short it at 19,000 . Know we can trade it again the margins gone from 1000 to 3,500 . I have moved my account to Pepperstone ! Who let you trade in increments of 1/10 f a Coin !
You lost 10,000 shorting it while everybody was buying?! But how could you blame your broker for that? At some point, guys, you need to take debit of your own mistakes, otherwise you will never progress
Don't give up on your dreams. Keep sleeping.
The next phase is the 'dead cat bounce'

Price will rise as people buy back in because they are now getting a 'bargain' due to the drop.

Won't be long before we see the real falls.
I am planning the launch of my new currency...bitTurd.

Just like bitcoin, there is only a finite supply of it, as I can only produce 10,000 Kg over my life time.

The advantage of bitTurd over bitcoin is, my currency is a tangible asset. You can physically hold it in your hands. You can also break it down into smaller pieces just like a real currency.

The ITO(Initial Turd Offering) will be strictly limited to a select few and all subscribers will be be able to trade bitTurd in 10cm lengths.

I predict each bitTurd will be worth $300,000 within the next 12 months.

As an added bonus, each newly minted bitTurd will be highly polished and will come with its own certificate of authenticity. Come on, what are you waiting for? Come and grab your very own polished bitTurd.
This is nothing unusual, the normal ebb and flow of a market. Been waiting for this for a couple of weeks. I know my next buying opportunity and its not there yet. Beautiful retracement!
Don't wait for the wind, take to the oars.
  • Comment #23
  • Quote
  • Edited Dec 23, 2017 6:03am Dec 22, 2017 1:33pm | Edited Dec 23, 2017 6:03am
Walmart is going to be using IBMs' blockchain platform for tracking their supply chain management in the food industry. This technology is not going away here is the link http://www.nasdaq.com/article/ibm-an...china-cm895491 and here https://news.bitcoin.com/walmart-ibm...ockchain-tech/ Don't be left behind !
Don't wait for the wind, take to the oars.
Quoting Pleiadian
Walmart is going to be using IBMs' blockchain platform for tracking for thier supply chain management in the food industry. This technology is not going away here is the link http://www.nasdaq.com/article/ibm-and-walmart-launch-blockchain-based-food-safety-alliance-for-china-cm895491
No one is arguing against the use of blockchain as a secure contract mechanism. In fact the Australian stock exchange is already using block chain for their settlement process.

It's use as a 'currency' is where the craziness starts
Quoting digit1288
{quote} No one is arguing against the use of blockchain as a secure contract mechanism. In fact the Australian stock exchange is already using block chain for their settlement process. It's use as a 'currency' is where the craziness starts
I am not arguing with anyone, presenting factual information. Large companies do not make decisions in the short term, they would have been considering these technologies at least three years ago. You don't have to do anything if you don't want to participate. Simple !
Don't wait for the wind, take to the oars.
Quoting digit1288
I am planning the launch of my new currency...bitTurd. Just like bitcoin, there is only a finite supply of it, as I can only produce 10,000 Kg over my life time. The advantage of bitTurd over bitcoin is, my currency is a tangible asset. You can physically hold it in your hands. You can also break it down into smaller pieces just like a real currency. The ITO(Initial Turd Offering) will be strictly limited to a select few and all subscribers will be be able to trade bitTurd in 10cm lengths. I predict each bitTurd will be worth $300,000 within the...
Lol...Can you polish a bitTurd?
Quoting digit1288
I am planning the launch of my new currency...bitTurd. Just like bitcoin, there is only a finite supply of it, as I can only produce 10,000 Kg over my life time. The advantage of bitTurd over bitcoin is, my currency is a tangible asset. You can physically hold it in your hands. You can also break it down into smaller pieces just like a real currency. The ITO(Initial Turd Offering) will be strictly limited to a select few and all subscribers will be be able to trade bitTurd in 10cm lengths. I predict each bitTurd will be worth $300,000 within the...
Sounds great. I'm going to start selling wallets. Have a whole roll, that I use when I walk my dog.
Quoting redpants
Any else on here who were with IC MARKETS they suspended trading over 2 weeks a go and we could not get on ! I lost 10,000 shorting it t it annoy me I wanted to short it at 19,000 . Know we can trade it again the margins gone from 1000 to 3,500 . I have moved my account to Pepperstone ! Who let you trade in increments of 1/10 f a Coin !
Why trade crypto's via cfd's its a sure way to loose your pot. Buy the actual coin....
20 Pips a day keeps centerlink away
Quoting Pleiadian
Walmart is going to be using IBMs' blockchain platform for tracking for thier supply chain management in the food industry. This technology is not going away here is the link http://www.nasdaq.com/article/ibm-an...china-cm895491 and here https://news.bitcoin.com/walmart-ibm...ockchain-tech/ Don't be left behind !
Are you saying, buy IBM stock? This has nothing to do with crypto currencies.
Quoting zz_zhang
{quote} 60k? i will buy some ... when it reach 600 lol
http://www.forextradingforprofit.com.au/bitcoin/bitcoin-sell-off
20 Pips a day keeps centerlink away
Quoting Jr123
{quote} Are you saying, buy IBM stock? This has nothing to do with crypto currencies.
No, you said buy IBM stock ! I never said buy to anything.
Don't wait for the wind, take to the oars.
On a semi serious note...I can't see why my bitTurd currency is any crazier than bitcoin.

The next article you read about bitcoin, if you replace the word bitcoin with 'this pile of sh!t' you will soon realise how crazy all this is.
If someone does not want to participate in cryptocurrencies, then there is no action that they will have to take. If someone wants to participate then they need to take action and educate themselves. For the nay sayers out there, why are you trying to dictate about something you are not involved in ? Stay calm and carry on as you are.
Don't wait for the wind, take to the oars.
Quoting PaulDaemon
{quote} http://www.forextradingforprofit.com...tcoin-sell-off
Mentioned it before, if it can drop so much is likely to be not sustainable as a investment , the system is flawed as it takes too much energy and electric to maintain its ledger, which govt won't allow. Good luck holding it
trade safe
Quoting zz_zhang
{quote} Mentioned it before, if it can drop so much is likely to be sustainable as a investment , the system is flawed as it takes too much energy and electric to maintain its ledger, which govt won't allow. Good luck holding it
Which is why people should swap them for my bitTurds

I can have 30kgs ready to ship by boxing day..depending on how much turkey i consume..
BC is a beautiful example of man and original sin: or better said, it is here to torment those whose weakness is - you supply the word - belief, or 'belief.' BC seems perfect and why not yet it has the flaw, its original sin, you cannot reply upon it. Gold will not be replaced by it.
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  • Posted: Dec 22, 2017 8:09am
  • Submitted by:
     Nick.
    Category: Fundamental Analysis
    Comments: 36  /  Views: 10,940