USA has a huge deficit with China. China's tariffs are futile.

Let the chaos continue

China would be foolish to continue to fight back unless the fight is somehow invisible from US eyes, this is a battle they can't win. Fact is, China took USA manufacturing away from the US consumer so that they could then sell the same products back to them. Without the US consumer China has too few buyers for the manufacturing capacity that they took from the USA and other countries. What they need to do is somehow get domestic consumption up to replace this consumption. Achievable, but it will be slow and will require lots and lots of stimulating the Chinese consumer.

Trump will indeed go to 156% if need be. He won't stop. He is trying to reorganise the USA from a consumer only economy back to a producer and consumer economy like it used to be decades ago. Make America Great Again and all that. A self sufficient economy.

haha, I saw that. End of the day markets will probably be limit up.

It's entertaining watching the panic though. People always think it is the end of the world,fact is trump hasn't done jack to the monatary system so nothing has actually changed. We're still going to get an ever increasing money supply, which means number/s will be up again in the not too distant future. Those who understand this will be buying the global dip.

Meh. I'm not selling.

Markets are trembling for lots of reasons. I still see a drop down to 70k as very possible in the current environment. But who knows what could happen all it takes is a tweet and boom everything changes.

Could be the so called "art of the deal" bullshit where you ask for something stupid that no one will accept then downgrade to just Bitcoin as a compromise. But it's not actually a compromise as that's all you wanted the whole time.

It would result in a fair bit of OGs selling IMO, but perhaps demand would outweigh it. Very low chance of happening though. I'm just hoping for some kind of announcement that ends all this "crypto" speculation about what's going to happen or isn't. Honestly, this whole thing is leaving a very bad taste in my mouth. 

Nope, because I don't think they have been that affected by this plunge so far. Pre-market has them at -3%. I suspect that MSTR investors are confident this just means that he'll be stacking more coins with his buys, meaning higher returns when the market pumps again.

Yes watch out with the lanuguage or you'll have Jay accusing you of being a panic driven bear when you're actually not.

MSTR might be an interesting one to watch today.

Haha, that was always a joke I think. The on-chain people can't identify the exchange addresses correctly. Also, it takes 10 minutes to load an exchange with fresh coins again anyway, so really, how relevant is it.

Yeah I mean each cycle (so far) ATH is less and less in percentage terms.

What time frame would you consider a mini-bear, 2013 sort of thing?

If that was the cycle top, it was lower than the last one, which probably means the next will be lower than this one. Therefore, next cycle target price would be about 130k maybe. That doesn't sound likely IMO so at this juncture I don't believe we have hit the cycle top yet. A shorter bear market could just mean this is a correction in the bull market.

Of course, I'm usually wrong so this is probably the start of an 80% correction and we'll be back in the $20ks by mid summer.

What was the bottom meant to be? $75k? Need to know when I should give up focusing on Bitcoin for another year or 2? lol

It's amazing honestly, no matter how mature the market gets, how many big institutional investors and corporations get involved, all of them panic sell like a bunch of noobs.

All the people I grew up with are dying. It sucks, I know barely any of the actors/muscians post 2005.

I better go download and rewatch some of his old movies.

Could be worse you know.

We could all be shitcoiners. They look like... well... shit.

I don't think 4 years, but definitely an extended time.

Though I think we'll bounce soonish but we will probably be stuck in a range for a length of time similar to last year.

A good write up https://scottaaronson.blog/?p=8669

nothing to worry about IMO

I've been noticing this. The chain can not be spammed with uneconmical bullshit forever, the high fees will eventually drain all the wealth and the miners will put it to ecconmical use by expanding capex. So this decline was a certaininty just waiting to happen.

I also wonder how much of this drop is also to do with shitcoins falling out of favor. Less Bitcoin being used to buy that shit perhaps, transactions between exchanges? the LN is also probably having an effect, as well as batching transactions, and no doubt a few other things.

Was just about to say the same. Did he actually buy yet though or did he just hint about it on twitter?

Hopefully, he might be buying the dip this time.