Yesterday we closed well under the 100 day average.
Today we move even further away from it while breaking through the bottom of the triangle.

We've broken major support and nothing is stopping a deep fall.

Also notice how mainly BTC is falling and altcoins remain stable or even raise significantly.

Billions of BTC capital is flowing into blockchain 3.0 technology and people here still believe BTC's blockchain 0.1 Beta tech has a future... lol

Down we go guys,  you've been warned.

Oh man you guys are too hilarious and dense to not see there is a huge problem here.

Store of value? Are you kidding me? You still need decent liquidity which Bitcoin Core cannot provide.

Why would you or anyone else use a system that can't properly handle transactions as a store of value and not move to one which has the same scarcity and security (actually better since it doesn't have SW attack vectors), yet also provides for liquidity with cheap and fast transactions!

One picture says it all.

Behold the pathetic hilarious state of Bitcoin Core and the potential and oportunity of the real Bitcoin (Cash).

https://txhighway.com/

Yea, we totally don't have a problem here... lol...
And there are still people posting here daily asking why the price is crashing... Gosh... I wonder...

I suspect within a few weeks the whole tether scam will collapse and the news will be all over it.
It will trigger a bitcoin sell-off like we've never seen before when people realize that 90% of the market cap of bitcoin is fake printed tether money.

There is nothing healthy about a mass sell-off of an asset that is fundamentally broken on so many levels.

We broke to the 100-day we'll probably close well under there.
There's no support until the 200-day and even that is very weak.
We'll probably see sub 7-8k within 2-3 days.

LOL here we go again.

This time it's different and there will not be a bounce.

We can tell by the fact that it's just bitcoin crashing and altcoins keep their btc value or even rally!

We're going to close well under the 100-day and drop down to the 200-day HARD!
200-day has some support but i doubt it will hold while everybody is dumping this and moving to good coins and we will revisit pre-2017 levels!

The problem is, Bitcoin Core has become vaporware. Endless promises that will not be kept, that cannot be kept.

SegWit, barely being used while creating new transaction attack vectors.
Lightning Network, mathematically impossible to even work and is overhyped to solve everything, which it wouldn't even if it could work. Nobody addresses the big problems it introduces. Plus it's a pain in the a** to use in the first place.

Once mainstream media starts publishing about this prices will drop back sub $1000 very quickly.

Bitcoin is done, it simply offers nothing anymore in these days.

Ah yea i can hear the comments already "Bitcoin is a store of value, not a currency."
Oh is it? What happened to "Decentralized peer-2-peer digital cash." as stated in the whitepaper?
Remember that was the goal of Bitcoin before it got taken over.

Why would Bitcoin be used as a store of value and not a different digital crypto that DOES work as a digital currency AND a store of value..?

Exaclty, like i said, Bitcoin is only going down to where it belongs, at the bottom.

Apart from half of the points you state are just untrue, do you know of any feasible solution?
Bigger blocks don't solve the problem. DAG structures don't solve the problem.

IMHO a proper decentralized secure base protocol with second layer scaling beats any other proposals we have now, they all decrease decentralization and/or security at the base level.

The most important thing people should know is that Bitcoin Core is fundamentally broken and taken over by a commercial club of banksters.

Bitcoin Core is an environmental disaster.
Bitcoin does not scale.
Transactions are extremely expensive.
Transactions take hours or days to confirm.
Bitcoin Core network, 200B USD market cap, can be consistently attacked with roughly 600M USD/day, compare with PoS this would likely be several times the current market cap to attempt even a single attack!
Bitcoin Core is not private.
Bitcoin Core is not fungible.
99% of all coins are owned by a hand full of people.

Maybe it will go up a little more by idiots not understanding technology, after that it will plummet and better crypto will take over.

Bitcoin Core will be forgotten within 5 years.

I doubt that very much. He's a scam artist that likes the spotlight, i'd be surprised if he holds more than 500k in fiat worth of btc.

Roger Ver

Annd That's how you lose money.

I think this confirms what i've been saying for some time now.
Bitcoin has had its time.
Losing capital really fast now and no signs of recovery.

Technical capacity is not there.
Community support is not there.
Media support is not there.
Economic support is not there.

So many altcoins that solve the problems of this giant cluster f*ck that is Bitcoin Core.

It took a few more hours than expected but the crash is rapidly accellerating now EXACTLY as predicted.

123abc ignore the idiots here. I've been warning them for some time now but they have their pink glasses on with dollar signs, lost track of all reality long ago.

Bitcoin is going nowhere but down.

I can give you some why it most certainly will not.

1. Bitcoin does not scale. Lightning Network is a fad. It is a commercial initiative that does not work in a decentralized secure way and is only intended to make companies big money. Create an artificial problem (1mb block size), propose a commercial solution, profit.

2. Bitcoin is outdated technology. On many levels Bitcoin has been surpassed by altcoins, in network topology, mining/securing mechanism, distribution mechanism, economic vision.

3. Bitcoin is an environmental disaster for which there are amazing solutions, yet the community and dev team refuse to work on clean future ready technology.

NXT uses very old first generation PoS, basically all problems have been resolved at this point.
Plus there are other solutions to PoS as i mentioned.

You really think Eth would move to PoS if it was a bad idea? (Yes i know it will be hybrid at first and moved full post at a later stage.)


Have we? Source? I don't know anything about this.

The communities arguments keep getting better and better.

As much as i like coincidences as the next guy, i doubt Bitcoin value will rise.
We've clearly entered a bear market. Bitcoins dominance keeps dropping every day, it's almost under 30%
More and more people are realizing what i just talked about here in my original post.

Instead of solid arguments all i see is shilling.
I remember a time when the community looked down at this.
When it still valued innovation, tech and solid arguments.

With so many innovations in the crypto space and solutions for every problem bitcoin has.
I keep on hearing that Bitcoin Core is still King of crypto, and not only in market cap.

"They have by far the biggest and best team behind it."
- Orly? What have they done? We're still using old code and innovation is nowhere to be seen. Instead we are seeing bankster like solutions being proposed by this group.

"Bitcoin has the most secure network."
- Orly? Only if you discard anything else than PoW. Proper implementations of PoS, BFT, PoR, PoB are much more secure than PoW and they don't waste gazillions of valuable energy and don't pollute the environment.

"It's the mother of crypto."
- So what. Parents die, children prosper. *repeat*

Let's sum up what other innovations we have in crypto space that Bitcoin does not offer.
As a currency:
- Fungibility.
- Privacy.
- Anonymity.
- Smart contracts.
- Scalable p2p network.
- Secure 'green' mining/network.
- Sustainable fee/mining reward setup.
- Decentralization.
- DNS.
- Governance.

Other:
- Secure Communication/messaging.
- IoT compatibility.
- Data storage.
- Decentralized web.
- Exchange.


There's probably a bunch more i can think of.
The question remains, why is bitcoin seen as superior and valued as such while it offers almost nothing? Even at it's basic function it is surpassed by almost every other crypto.
The only thing backing it's value is big whales shouting how awesome bitcoin is because they have a big stake in it.