Bitcoin

Inquisitor said:
Holy crypto limbo!

Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim's Minerd says

  • Bitcoin could drop further and fall to $8,000 from its current levels, predicted Guggenheim Chief Investment Officer Scott Minerd.
  • That would represent a more than 70% drop to Tuesday morning's price of just over $30,000.
  • If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month.
Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday.

That would represent a more than 70% drop to Monday morning's price of just over $30,000.

"When you break below 30,000 [dollars] consistently, 8,000 [dollars] is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd told CNBC's Andrew Ross Sorkin in a "Squawk Box" interview at the World Economic Forum in Davos, Switzerland on Monday.

Minerd is referring to the U.S. Federal Reserve's hiking of interest rates and tightening of monetary policy.

Since falling below $30,000 earlier this month, bitcoin has struggled to rally substantially above that level. It has regularly dipped below $30,000.

If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Bitcoin is down around 24% in the last 30 days alone.
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a.) That's another silly hitpiece from Minerd the Turd and his cronies in the media.
b.) Everything coming out of Davos is horrifying - they want total control.
c.) Bitcoin is not "crypto"
d.) Shall we really compare stocks with the best-performing asset of the decade? We can if that's what they want!

He's getting murdered on twitter. He's so incredibly full of shit and will say anything.

Bitcoin "could" fall to $8000 (what an arbitrary amount) just like it "could" go to $100,000. However, aside from his obviously skewed opinion, there's zero basis for either.

Bitcoin is standing strong at $30k despite having the kitchen sink thrown at it. It's compressed tight as a spring and will go one way or another today or tomorrow. I'm hoping for $24,600 at which point I buy another Bitcoin.

When you want financial advice, these are keywords to avoid: Guggenheim, Minerd, CNBC, Sorkin, Davos, WEF
 
Hey guys, I'm hearing more and more that CashApp actually has a really good, simple way to buy Bitcoin and that you can send it from there to your external wallet. You can also send payments to another CashApp user in $BTC.

Might be good for some beginners who want to get their feet wet.
 
This chart is much more significant and important than price.

“Bitcoin can’t be scaled for payments”

 
Only 235 likes?

🤨

I can post random pictures of cats on Twitter and get more than 235 likes.
 
HammerDown said:
Hey guys, I'm hearing more and more that CashApp actually has a really good, simple way to buy Bitcoin and that you can send it from there to your external wallet. You can also send payments to another CashApp user in $BTC.

Might be good for some beginners who want to get their feet wet.
Click to expand...
I've been using CashApp as one payment option (of several) for my online businesses for a couple of years now. In general, I really like it as a P2P payment option.

I had heard of them doing bitcoin also, but I haven't tried to use it yet to see how good it works. But I am definitely OK with them having that option. It's nice to see.

:pop2::martini:
 
Inquisitor said:
Holy crypto limbo!

Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim's Minerd says

  • Bitcoin could drop further and fall to $8,000 from its current levels, predicted Guggenheim Chief Investment Officer Scott Minerd.
  • That would represent a more than 70% drop to Tuesday morning's price of just over $30,000.
  • If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month.
Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday.

That would represent a more than 70% drop to Monday morning's price of just over $30,000.

"When you break below 30,000 [dollars] consistently, 8,000 [dollars] is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd told CNBC's Andrew Ross Sorkin in a "Squawk Box" interview at the World Economic Forum in Davos, Switzerland on Monday.

Minerd is referring to the U.S. Federal Reserve's hiking of interest rates and tightening of monetary policy.

Since falling below $30,000 earlier this month, bitcoin has struggled to rally substantially above that level. It has regularly dipped below $30,000.

If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Bitcoin is down around 24% in the last 30 days alone.
Click to expand...
Next time Minerd makes a clickbait price prediction on Bitcoin, remember this…

 
Kburjr said:
Prior results are not a guarantee of future performance
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Great, so you'll be taking financial advice from Scott Minerd based upon that premise?

The point is very clear: Scott Minerd is an old-school legacy bullshit artist shill for Wall St. fatcats and he spreads lies about Bitcoin and his cronies in the media plaster them as BREAKING headlines.

Question: Why are these guys all suddenly talking nonstop about Bitcoin?

"Because they're all such nice guys and they want to protect us!" - Dole
If you guys would all do two hours of basic education on Bitcoin, you'd have a :idea: moment and realize that every single one of us should be supporting it all we can, for a host of reasons, the least of which is that it's the best-performing asset of the decade.

Until then, stay scared and ignorant while I stack sats. :thumb:
 
HammerDown said:
Great, so you'll be taking financial advice from Scott Minerd based upon that premise?

The point is very clear: Scott Minerd is an old-school legacy bullshit artist shill for Wall St. fatcats and he spreads lies about Bitcoin and his cronies in the media plaster them as BREAKING headlines.

Question: Why are these guys all suddenly talking nonstop about Bitcoin?

"Because they're all such nice guys and they want to protect us!" - Dole
If you guys would all do two hours of basic education on Bitcoin, you'd have a :idea: moment and realize that every single one of us should be supporting it all we can, for a host of reasons, the least of which is that it's the best-performing asset of the decade.

Until then, stay scared and ignorant while I stack sats. :thumb:
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Lay off the caffeine, son. Every piece of financial advice that claims previous success has that disclaimer. I merely extended it to failures.
 
Kburjr said:
Lay off the caffeine, son. Every piece of financial advice that claims previous success has that disclaimer. I merely extended it to failures.
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You could somehow tell I took 300mg of caffeine before getting inspired on you, old man? :biggrin:
 
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