False rumor of a double spend flaw hurt the price.
Bitcoin Price Tracking & Discussion -- 2025
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raiders72001Senior Member
- 08-10-05
- 11059
#701Comment -
hotcrossSBR Hall of Famer
- 08-04-17
- 7934
#702Comment -
NitrogenSBR MVP
- 08-15-16
- 1972
#704It's funny to see people try and track bitcoin using traditional charts and patterns.
A big part of the price of bitcoin is news and rumor. Over the past few weeks, there were torrents of posts on social media and message boards talking about how the US was on the verge of martial law, how the days of the US$ as a safe harbor currency were finally crashing down etc.
You know how Elon Musk spiked that health stock (Signal Advance) by saying "Use Signal" (the messaging platform), well, there's maybe 20 big players in the Crypto world that can also penetrate with the price of bitcoin just by making a few comments that get amplified through their respective echo channels.
Now that the transition to the new admin is under way, and the attempted coup by Meal Team 6 has ended, that alone would cause downward pressure. Add into it that these upcoming lawsuits with Tether could cause a monster crash.
And not least of which, is that bitcoin is still, for the most part, something that people only buy to resell later. When the fees spike, it's unusable for small purchases.
I'm glad I've held onto some coins, as I've sold a bit recently. But trying to trade it based on charts and graphs is a long term fools errand.
If you really want to try and buy the dips and spikes, sign up for about 30 of the libertarian/prepper/crypto-rumor forums and just get a feel for the sentiment of the rumors. Crazy way to try and make money - but almost all of bitcoins movement is purely rumor based.Last edited by Nitrogen; 01-21-21, 06:18 PM.Comment -
shadymcgradySBR Posting Legend
- 02-27-12
- 10036
#705Trolling joetool is fun but not here on this threadComment -
JoeCool20SBR MVP
- 05-31-18
- 4440
#706LOL I'd rather not have to deal with trolling at all because it is useless and childish. But my gosh, trolling anyone and then blowing up & going crazy-nuts-angry at their reply to the trolling, is not good on ANY thread!Comment -
louisvillekidSBR Hall of Famer
- 08-14-07
- 9255
#707Anyone stop getting notifications through Coinbase App?
I have my setting set for any BTC spike or drop of +5% to notify me. It used to notify me all the time. Last time I got notified was Jan 10th, 8 times that day. Since then I haven't got one single alert, from anything.
I checked the setting in app and I have everything on. I even checked my phones settings, and app preferences for my phone. Other apps give me notifications.
But for some reason Coinbase just stopped on Jan 10th.Comment -
pablo222SBR Hall of Famer
- 01-03-19
- 8858
#708Same for me LouisvilleComment -
BeatTheJerkBARRELED IN @ SBR!
- 08-19-07
- 31794
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killawookieSBR MVP
- 12-25-09
- 3457
#710Yikes 29.3k.. where the bottom?Comment -
louisvillekidSBR Hall of Famer
- 08-14-07
- 9255
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CanuckGSBR Posting Legend
- 12-23-10
- 21977
#712Bought more 29.8k - out of cash for now.Comment -
raiders72001Senior Member
- 08-10-05
- 11059
#713It's funny to see people try and track bitcoin using traditional charts and patterns.
A big part of the price of bitcoin is news and rumor. Over the past few weeks, there were torrents of posts on social media and message boards talking about how the US was on the verge of martial law, how the days of the US$ as a safe harbor currency were finally crashing down etc.
You know how Elon Musk spiked that health stock (Signal Advance) by saying "Use Signal" (the messaging platform), well, there's maybe 20 big players in the Crypto world that can also penetrate with the price of bitcoin just by making a few comments that get amplified through their respective echo channels.
Now that the transition to the new admin is under way, and the attempted coup by Meal Team 6 has ended, that alone would cause downward pressure. Add into it that these upcoming lawsuits with Tether could cause a monster crash.
And not least of which, is that bitcoin is still, for the most part, something that people only buy to resell later. When the fees spike, it's unusable for small purchases.
I'm glad I've held onto some coins, as I've sold a bit recently. But trying to trade it based on charts and graphs is a long term fools errand.
If you really want to try and buy the dips and spikes, sign up for about 30 of the libertarian/prepper/crypto-rumor forums and just get a feel for the sentiment of the rumors. Crazy way to try and make money - but almost all of bitcoins movement is purely rumor based.Comment -
raiders72001Senior Member
- 08-10-05
- 11059
#714If past patterns of bull runs continue, BTC will go up first. Then a little later, the alts will go up at a higher percentage. It's been doing that this whole run.Comment -
milwaukee mikeBARRELED IN @ SBR!
- 08-22-07
- 26914
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raiders72001Senior Member
- 08-10-05
- 11059
#716$20k and I'll worry but not until then.Comment -
JIBBBYSBR Aristocracy
- 12-10-09
- 83693
#717Crypto tanking now with every executive order Biden signsComment -
NitrogenSBR MVP
- 08-15-16
- 1972
#719You're right in a lot of ways that current news moves the market. This goes back to the troll box at BTC-e and some guys on twitter such as Charlie Lee. I use current news every day in trades. The charts are overrated but still somewhat work. Current news determines movement but past patterns determine the degree of the movement.
Such wild swings, and momentum in both directions is like a freight train. Tesla was like that last year, and as much as I love the product, it's a cult stock and none of the normal metrics seem to matter when people are in love with the tech and the owner. When Musk had 1/3 of the paper wealth of Bezos - I bet a buddy a steak dinner that Elon would be a trillionaire before Bezos. That shit coming down the pike with everything from autobidder so Tesla getting a slice of every autonomous taxi in the near future.
Not even sure how you would try to measure that. How often does one company basically have a 5 year lead on 3 disruptive technologies (ev cars, micro grid power to replace the current grid, self driver uber). Not to mention batteries beyond EV. Good lord. With bitcoin, Roger Ver is reportedly now worth around 6 billy. You ready to live in a world where that guy might be worth a couple hundred billion?
I mean. Doge coin was originated flat out as a joke. Musk mentions it once in a while on twitter - if a person only knew, they could double up and bail before it came back down. It's the wild west.Last edited by Nitrogen; 01-21-21, 10:14 PM.Comment -
JIBBBYSBR Aristocracy
- 12-10-09
- 83693
#720I'm out on bitcoin with Joe in office now!! I saw these executive orders being signed off that will kill the US economy and stock market so I sold.. DONE and OUT!! Good luck fellas!
Bitcoin gonna drop even farther watch just like the stock market is starting to now. It's gonna be a sell off frenzy soon.
Joe Biden way to go with just one day after taking office and signing all those far left economy killing executive orders! You kill everything Trump did and you kill the US economy further even with Covid killing us already now.
Kiss cheap oil prices at the gas pumps goodbye. Watch your home electricity bill go up very soon, that's just the starters.Comment -
GregetSBR Posting Legend
- 11-01-10
- 10516
#721We'll see? With every executive order Biden signs it's gonna strangle our economy further even with Covid. I watch the markets because I have money invested in them.
Biden is already destroying our economy, stock market and border. All happening in one day. AMAZING!!!
Bitcoin down - 20%
Dow Jones down - 13%
One day in office way to go JOE!!! Keep signing those far left executive orders!! THAT'S KEEPING IT REAL!!Comment -
JIBBBYSBR Aristocracy
- 12-10-09
- 83693
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themike78SBR MVP
- 07-01-13
- 4873
#723All these idiots thought Biden would be good for bitcoin. Don't people realize Dems want total control and no personal freedoms? I wouldn't be surprised if these assholes try to ban bitcoin. Do you miss Trump yet?Comment -
OptionalAdministrator
- 06-10-10
- 60849
#724
Looks like it is buy time, if I trust my own calls.
Adding a little more to my HODLing.Comment -
GregetSBR Posting Legend
- 11-01-10
- 10516
#725Comment -
ChuckyTheGoatBARRELED IN @ SBR!
- 04-04-11
- 36883
#726Request for return to civility in this thread.
My two cents is that the recent dump in BtC is a good thing. I keep hearing all the buying stats. Big fish are trying to consolidate their BtC positions. I can only think that means northern momentum in the near-future.Where's the fuckin power box, Carol?Comment -
OptionalAdministrator
- 06-10-10
- 60849
#727
USA accounts for 4% of the world population, and maybe 10% of world GDP... a bunch of politicized loons saying they have lost confidence in the US$ makes less than the width of a bee dick difference to the worldwide traded price.
And even if USA "bans it" (impossible to start with, ask China) the rest of the world won't care that much. Will just be like USA forcing Google out of China, create a vacuum other entities will thrive in without the US competition. And exactly like what has happened in the South China Sea since the USA pulled out and left the region to everyone else.
If USA "bans bitcoin" now, the rest of the world's tech companies win.
Plus all governments love the idea of traceable digital cash so neither US side is going ban crypto anyway..Comment -
JIBBBYSBR Aristocracy
- 12-10-09
- 83693
#728Sorry guys bitcoin I think is gonna tank as the stock market does. Biden needs to stop with these aggressive executive business killing executive orders!! Keeping it real. I'm an investor. Not invested with chump change either.
I hope I'm wrong but I'm out. I hope Bitcoin jumps right back up even though I bailed out!! I love bitcoin but I'm out for now. That's just me.
Comment -
ChuckyTheGoatBARRELED IN @ SBR!
- 04-04-11
- 36883
#729Opti, I express to u how pessimistic I am for the USA in 2021. Vagrancy is on virtually every stop-light.Where's the fuckin power box, Carol?Comment -
JIBBBYSBR Aristocracy
- 12-10-09
- 83693
#730Not everything in this world is about Trump, Biden or even US politics at all.
USA accounts for 4% of the world population, and maybe 10% of world GDP... a bunch of politicized loons saying they have lost confidence in the US$ makes less than the width of a bee dick difference to the worldwide traded price.
And even if USA "bans it" (impossible to start with, ask China) the rest of the world won't care that much. Will just be like USA forcing Google out of China, create a vacuum other entities will thrive in without the US competition. And exactly like what has happened in the South China Sea since the USA pulled out and left the region to everyone else.
If USA "bans bitcoin" now, the rest of the world's tech companies win.
Plus all governments love the idea of traceable digital cash so neither US side is going ban crypto anyway.
Probably why China or Russia hasn't nuked us yet.Comment -
JMobileSBR Posting Legend
- 08-21-10
- 19070
#731How did you guys invest in bitcoin? How much too?Comment -
OptionalAdministrator
- 06-10-10
- 60849
#732
But I really do not think day to day headlines about Biden (or Trump) domestic economy plans really has too much effect on traded price these days. It just feels like that sometimes in our USA-centric echo chamber when we convince ourselves things happen for XYZ reasons.
Even in big take up countries like Japan less than 10% of people own crypto. I think that retail level uptake is going to be a far bigger price moving factor than anything else over the next few years. Genie is out of the bottle completely now..Comment -
OptionalAdministrator
- 06-10-10
- 60849
#733
Dont want to go to the politics side in this thread, but have been posting for almost a year now that whichever countries get their economy working again first are going to have a huge advantage in coming decades.
I don't think this will will hurt crypto though. Will just create opportunities elsewhere.
Plus hopefully the new govt can address the situation and not let USA fall any further behind v Restoftheworld.Comment -
nickfolker23SBR Wise Guy
- 09-27-20
- 547
#734Yep, and the way it appears USA is way behind every other major economy in recovering from the covid bashing is only going to exacerbate the effect.
Dont want to go to the politics side in this thread, but have been posting for almost a year now that whichever countries get their economy working again first are going to have a huge advantage in coming decades.
I don't think this will will hurt crypto though. Will just create opportunities elsewhere.
Plus hopefully the new govt can address the situation and not let USA fall any further behind v RestoftheworldComment -
OptionalAdministrator
- 06-10-10
- 60849
#735
It won't hurt it. Or you can say it will hurt paper money that governments are forced to print during hard times. It's us against them, if you have bitcoin you don't mind some of the bad things happening in the cruel world around you. Because your investment grows in value.
Also if I am correct, the flip side of that equation is that USA residents who keep some cash in crypto now will disproportionally benefit versus people in other countries later. So there is that too..Comment
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