bitcoin will reach $500,000, they said

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We are in a bubble but if you care you are short sighted.

>>3413531
do you not understand the math behind why they say bitcoin will reach $500,000?

>>3413585
no

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>>3413626
you take market cap
>$67,939,539,789
divided by circulating supply
>16,555,800
and you get the price of bitcoin
>$4103.67

so, if you take apple's market cap
>815.39B
and divide it by bitcoin's circulating supply, you get
>$49,251.01

if you take the s&p500, bitcoin's price is then close to $2M

>>3413531
Technically speaking, they have about 10,000 more years to be correct at least once.

>>3413531
You can lead a pleb to the global market cap but you can't make him read it.

>>3413742
Hmm....by that logic, if you take Apples market cap and divide it by something there is only one of, that one item is worth 815.39B dollars? Wow!

Hey, arent there alot of coins with far less circulating supply then Bitcoin? Those coins MUST be worth far more!

>>3413742
this is retarded reasoning

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>>3413787
market cap of $39,017,763 divided by the circulating supply of 599,400

and you get $65.09

I don't understand your point, I think you're just an idiot

>>3413802
well you too I guess

:/

>>3413531
yes bitcoin is a bubble short with max leverage

>>3413582
wait, so back then in 2011 btc went bearish for over 6 month, that's it? Like if it crash today, I could come back in 6-8 month for another parabollic bullrun?

>>3413816
>I dont understand what you are saying
>You are an idiot

>>3413742
Why are you dividing the market cap of a business in an entirely unrelated industry by the supply of btc retard? Bitcoins market cap comes from its price * its supply, it has no further use other than relative comparison between other assets in the same industry

>>3413802
>>3413830
>>3413894
this

>this thread

>>3413880
k

>>3413894
>https://en.wikipedia.org/wiki/Inverse_(mathematics)

>>3413879
If you look at the charts it was actually bearish for ~22 months before mooning again. Yes this could happen again but I doubt it would last that long, more like 6 months.

>>3413879
Very likely, yes. However, BTC has been in an aggressive uptrend for nearly 3 years now.

>>3413879
This video sums it up perfectly

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

You're clearly in a bubble when retards on an anime image board can make money

>>3413531
No matter what the whales do. No matter how much some Gooks panic. The market will keep to its patterns. Prepare for Monday.

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>>3414417
what's on monday?

>>3414393

People on /g/ were making money back when all this shit started

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>>3414495
He thinks this is a weekend dip despite a week long downward trend.

>>3414495
wagecucks go to work

>>3414495
Banks open

You guys are taking financial advice from a Korean image board ??

>>3414529
look at how low the volume is now tho

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>>3414604

>so what happens when all the exchanges paying out the money doesnt have any more funds
kek, I cant wait

>>3414635
coinmarketcap, bitcoin with 1.3B is like half of every day last week, ETH 500M, this is low volume

>>3414529
The fact that Gooks have done all they could to drive the price down and met this must resistance should tell you something. The whales are not going to make as much money as they hoped and certainly wont be getting much out of the west. This week has been a transfer of wealth from the east to the west and its running out of steam.

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>>3413531
https://pastebin.com/ZUxTmR99

>>3414666
>The fact that Gooks have done all they could to drive the price down
they actually still didnt, a single unofficial tweet did this there no official source on that yet

this should tell you a whole lot

>>3414722
Yeah, that Asia is tapped out and everyone else is waiting. You can also look at the global market cap to tell where its going.

>>3414698
the gold pyramiding scheme actually has countries with armies in the real world willing to wage war though any info on what bitcoin has thats backing it up?

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>>3414775
/biz/

>>3413531
nothing like a few threads on biz screaming bubble to let you know btcs next stop is 10k