I love how everyone thinks bitcoin is collapsing. Let me let you in on a little secret. That last run uo with bitcoin was a bubble it was a million people getting rich quick or atleast trying to. The real value of bitcoin is far less thrn 3000 especially since its an older slower and less utilized technology compared to some of the other platforms coming out. With talk of segwit bip148 a possible split a second coin and all of the hype all of the fear selling.... butcoins and altcoins are not collapsing they are restabalizing to fair market value.
Let me say that one more time aeay from the body of my paragraph.
The crypto market IS NOT collapsing they are returning to fair market value supports.
That is all good day and good luck hopefully we find the bottom
I would suggest contrary to this, mathematically bitcoins future expected value is way higher. More simply, wall street is playing and bitcoin is pricing in the event coming in august, you know the old adage, buy the hype, sell the news .... hype was BTC 3000, news was segwit ... just my two cents anyway.
I agree with you on the hype and news thats exactly what i feel is going on. When everything took off earlier this year and wall street saw how unregulated it was and how much they could get away with and from what i here segwit might nit even happen it was exactly that. News. I do think bitcoin and all altcoins value long term is higher i dont know where but this is definetely consolidation in mily opinion august is coming up quick i know ill be making some deposits come july 30th
A bit of a misconception, wall st is highly regulated, so holding bitcoin they have to report it -- i will be interested to see GS 13F filing which i believe is due out now, as well as their earnings report. Wall st. wasn't buying high that i know. Some of the firms put out targets and we are just in their ranges.
But if they have to report bitcoin holdings and profits wouldnt we automatically assume that they probably arent being very honest? I only know that in the case of wall st they play by the "rules" how ever the federal reserve does not and sets them up to make the money that they do. The fed appears to be regulated but its very much not and they are very much feeding wall st atleast thats how i see it anyways i could be wrong and i could be a conspiricist but i do think there is some collusion going on and the recent adaptation of blockchain and crypto currency on the mainstream had to have more then just tickled their fancies. Were theres money youll find the same people
May I advise to stay away from the conspiracy theories against wall st.... to be honest a lot of the ideas that circulate around US equity trading firms is balogne, can't fake math. The Federal Reserve, well they had to put the capital up to prevent a massive and global evaporation of wealth....if thats conspiracy well.... The whole 2008 financial crisis was just stupidity and greed, yes a lack of oversight, but its there now. Long story short, conspiracy theories won't make you money in crypto or equities you have to stick to facts.
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Thank You - @blueorgy
you have a point