Quote from: fabiorem on Today at 04:11:42 PM

I believe it will fall to $700-800 at the end of the year.
There will be three or four more crashes in stock exchanges, each with a new virus being released. I read the next one is called "hantavirus".
Bitcoin will follow it, as it was proven to be worthless as a hedge against fiat financial crisis.

Nobody cares about hantaviruses. Not the basis for a pandemic.

There has been no financial crisis. Fiat currencies are doing fine. Banking liquidity has not collapsed. The prices of stocks, real estate, commodities have crashed because of an unprecedented economic contraction. Big difference.

This crash looks exactly like 1987. If that model holds, the bottom is already in.

Quote from: fabiorem on Today at 04:11:42 PM

In the recent crash, bitcoin was poised to go to zero. It didnt happen because of a hardware failure in Bitmex servers.

Prove it:

Quote from: exstasie on Today at 09:14:25 AM

Quote from: adaseb on Today at 03:46:43 AM

The corona might of caused the stock markets to crash which might of caused the price of BTC to go from $8000 to $6000, what happened afterwards was due to massive long liquidations on Bitmex.

Why are people so sure about this? How do you know Bitmex wasn't following spot exchanges down?

For prices to fall on spot exchanges, people need to sell real BTC, on spot exchanges. Long liquidations on Bitmex do not accomplish that, and we know zero withdrawals left Bitmex during the crash because they only process withdrawals during mornings US time.

Nobody knows it was Bitmex-tied algorithms that dumped all that supply. That's just a big unproven assumption. All we know is inflows to spot exchanges increased ~170K BTC more than usual in the days preceding the crash. Massive supply leads to lower price.

A lot of over-leveraged traders got destroyed on Bitmex, I'll agree with that. I am however not convinced Bitmex controls the spot market.