BTC Bull Trap or Recovery

>>3440375
you realize that we're all in competition together, right?

>>3440375
sell nigga no one cares if you miss out on the greatest bull run ever record in human history.

>>3440375
be easy on carot bug

I don't trust it, I'm waiting for it to go sub 3k before I get back in

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>>3440375

"Bearish" 3 month BTC chart...

Dude, you're something special.

>>3440389
yes, it is a dog eat dog world, every man for himself

but i think you are being a little bit too serious

and if you really want to be serious with the game of "we're all in competition" then you are welcome to mindfuck us with false info that you communicate in a persuasive way.

or just shut the fuck up and not even reply by stating the obvious.

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>>3440433

Here's a MEGA BEAR 12 month chart. I'm amazed people stayed in crypto after how brutal the market has been over the last year. Alms for the poor, status. Poor kekistanis...

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China's just trying to manipulate BTC price just as they've been manipulating their currency for years. Except this time, they finally understand how much BTC is worth after NEO and OMG came out. Unfortunately, because we're in a speculative bubble, their bullshit shenanigans affect the market. But BTC price cannot be supressed forever.

>>3440446
have to understand whats drivin the price up anon
>muh crypto its always gonna go up and everybody is gonna use it soon so be a early adopter
fiat has been around for like what more than recorded history? and people didnt accept it until like 200 years ago

>>3440375
For once there is a real tangible reason for bitcoin to crash Bitcoin is still trying to be bitcoin with its droves of stupid money endlessly dumping into the market. Only reason it's pumping now is because of impatience and fomo buying. It can recover easily if the china leak is fake.

>>3440439
>t. loses money day trading

>>3440488
probably but theyre actually trying to stop capital outflows since people can move money with btc out of the country

bigger fish to fry more than btc itself

>>3440488
good answer.

let's get philysophical and start with a tautological truth

btc = btc
value of 1 btc = 1 btc

so all this hype concerning the fiat value of btc is retarded, because we all get stuck in an illogical loop such as this:

fiat is losing value too quickly due to inflation, so we need to seek higher % yield through investments such as btc, the alternative to fiat and jewbanks.

but at the same time, most people value btc in terms of fiat.

you must disconnect this in your mind to really see what's going on. otherwise you get stuck in this loop: fiat is shit, so i must get btc and grow btc through getting altcoins also, but btc is valued in terms of fiat, and when btc is worth thousands like now, then that means it's valuable! but that is illogical because you start from the premise that fiat is not very valuable to begin with.

it gets even crazier if you talk about btc value in terms of CNY because the yuan is notoriously low-value and is kept low so that china can be a net exporter.

it gets confusing because you're trying to increase how much $ value you own for both survival and long-term investment purposes, but you're also trying to increase your btc stack by getting ICOs and alts, and then that comes with additional risk, and then you also have to deal with these fiat price spikes because now more people are bidding up that 1 btc from $50 to $500 to $5000 per coin.

>inb4 philosophy undergrad brainlet

nope, i am a dropout.

it's all very tiresome.

>>3440594
I like this thought process but you can use price dips with fiat to accumulate more BTC and ALTS.

>>3440615
yes, true, so long as someone has spare fiat during those dips, and can time the entry.

other than that, the main way around using fiat is obviously to mine, but some of us like me have such low IQ we can't figure out how to set it all up.

at the end of the day, the average person is a slave to The System...we must provide value by doing some sort of work, to acquire compensation in the form of paper fiat notes that have symbolic value, and then to use that income to pay for food/water/shelter etc.

what exactly is btc and blockchain, other than The First crypto, and the one with the most well-known brand, like how microsoft is well-known and sort of first.

we are chasing higher btc = higher fiat gainz = more consumer products/services to be enjoyed = value made and spent.

it's all just energy. moving around. changing. and when this energy has to be stored for later consumption we must do so behind some symbolic representation of value: btc, usd, euro, gbp, etc. etc.

it's all very fake and gay. i would like to exit this societal loop and live in the woods, in nature...

>>3440503
you are 100% correct, i have been losing fiat and btc by day trading. thus the angst behind this poast.

if btc were declining in value vs. usd, then my losses would not feel as bad. but since btc has been going up in fiat price while i continue to lose more btc through dumb trades, i would like to discuss whether it will go up or down.

because in this very young and fragile market, btc going up in fiat value tends to pull others up with it.

without btc going up today, there would have been no higher moves made in qtum, okcash, vcash, etc.

i can see only a few coinz moving up in value vs. btc based on their own merits, like ark.

>>3440375
well the price raise seems to have stopped atm. so maybe this is just a mini bump

>>3440708
I really don't understand how people lose money at this........

day trading is LITERALLY the easiest fucking thing in the world

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>>3440511
Which lends further evidence that China is not gonna "ban Bitcoin exchanges". When I read that news I thought it was the stupidest fucking thing.

>>3440594
Man, I have run into the fiat=btc conundrum in my head so many times and leave more confused every time. I've been understanding better every time but this explanation helped too anon, cheers. I think long-term perceptions of fiat for Chinese is seen as stable while BTC needs to be caught right now for them, so they dip btc to try and accumulate, it's been pretty transparent from over here.