$15,000 Bitcoin Breached!
$15,000 Bitcoin price officially breached on GDAX, not long after rolling through $14k! Again--congrats on this. Seriously.
edit: Broken $20k USD on Bithumb...
- BTC rocket blasting!
People need to calm down. This rise should be of concern to everyone. Where are the healthy corrections? Where are people taking profits? There is a high chance that Wall Street has started manipulating the market. Putting in a lot of cash and booming it, betting on a crash and then selling billions. Get ready for a wild ride. And remember: don't play their game of fear. HODL (since some of you asked me why, I 'm only trying to suggest not to panic sell when the big correction comes). EDIT: Sorry guys, but this was my first comment on this subreddit and I wasn't expecting all these answers. Can't possibly engage all of you, just wanted to share my thoughts. All bets are on the table for the future. Best of luck to everyone, just take extra care the following weeks.
Shit is getting ridiculous... Crash inc?
just woke up and looked at my phone and went "what the fuck" - i was only asleep for 6 hours. 20k by dinnertime? lol
Holy shit. The last few $1000 have gone so fast.
yup, but no one knows when it happens.
You raise some great points grouper13, also I'd like to add, there's been a MASS influx of regular joe's and jane's this past few weeks, especially since Turkey day. December could be a rally for the ages! Mind your wits folks, don't get too drunk on euphoria.
Just watched a buy order on gdax @ 15,300 of 202 coins....Oh boy this shit is fucking all the alt. coins.
Traders willing to manipulate create exchange corporate accounts. They start buying billions, selling to each other. I sell you btc at 14000, you sell me back btc at 14001, and the cycle repeats, raising the price. Now, you and me (or our partners in this attack) have placed a bet on futures that btc will go down. We do a coordinated sell of billions at the exchanges, push the price down and take profit from the bet. It's one of the oldest tricks in the book. EDITED in order to address some of the comments below.
Exactly, people should be scared. This is not healthy at all. People with billions are playing with Bitcoin right now, and once again the rich will fuck us
That's bullshit, this is about speculation and making as much money as you can before the bubble bursts, or making money BECAUSE the bubble bursts. Valve just stopped taking Bitcoin as a payment method yesterday.
Real people don't use Bitcoin for anything. It's all shady; a service with no customers. All that is driving the price is people buying in, not people using it.
would 20k by dinner surprise anyone after this run!? maybe a small bit...
I just bought, wait for the biggest dip in 3, 2, 1
Everyone on this sub 'doesnt believe in the coin' LOL. If you are holding it as a commodity then you dont believe, if you are happy about price increases you dont believe.
For anything to be a currency it needs to be relatively stable so people can have price confidence and a slight decrease in value over time to avoid hoarding and to promote liquidity.
If you actually believe in cryptoCURRENCY this whole farce should put you off bitcoin for good. Its become the worlds greatest pump and dump and thats all
edit* broke 18K USD on Bithumb, and nearly 17K on bitFlyer as well! Amazing stuff!
Come on 25!! /u/Terminus14 needs a new pair of shoes!
At this point to impress me it needs to get to 25k.
At that point I'm going to sell half my bitcoins and probably retire and I don't care anymore what happens to cryptos.
Unreal isn't it!? This past day and week is just blurring together, numbers in your dreams.
LONG TIME HODLER here. To be honest this climb is making me uncomfortable. I feel like the recovery to this price will be hard after a hard burst. I also believed that it should have a long time commercial prospect not just store it. If it is just about storing money then it wont ever be stable with out something backing it up? Not sure and would love to get some unbiased opinion here.
E: I use this website to follow a plan. I am not being greedy. saving plan My moon is $100k
It's being manipulated. People don't believe in the coin, they're trying to make a quick buck. Recipe for disaster.
Oh my God, it's glorious!
I'm guessing after, I think wall street is secretly pumping right now only to bet against it on CME this Monday
Edit - It's CBOE futures on the 10th and CME on the 17th https://www.reuters.com/article/us-bitcoin-futures-contracts/cboe-cme-to-launch-bitcoin-futures-c...
I usually hate predictions of all kinds, but a major crash is coming at any time now.
Except for things that grow like this tend to crash. Mainly because it is being bought because of the high returns. Once it gets to a point where it stops growing it will drop dramatically.
I'm not even done rubbing one out to 15k and we're about to hit 16k
I read a lot on this sub that bitcoin is not a stock so stop treating it like one. I think this recent jump is starting to get more people to believe that's true.
It isn't a stock. Stock is equity in a cashflow generating company. Bitcoin is a portion of a combined asset class, designed to have a financial platform built on top of it, that we collectively recognize as value.
While your right there is a chance this wall street manipulation, I think it's more likely this is mass adoption. I've seen bitcoin on every financial website, tv station, and newspaper the last couple weeks.
This should scare the shit out of you. News companies are literally owned by equity firms. They don't have your best interest at heart. What incentive do they have increasing the price if they truly believe it has value. This is the herd being lead to the slaughterhouse.
I personally think bitcoin hits 40k before 2018, not sold wall street will successfully manipulate bitcoin.
Under what grounds do you base that analysis? Blind hope and luck? Combined market cap of bitcoin is hardly over .25T even with this 2 day 50% rise. That's pennies for wall street. Mom and pop don't have the buying power to hold up a combined mass exodus of bitcoin if/when wall street is to dump it. Supply will be overwhelming, any buy orders will be filled no matter how low, and no one will want to buy on a massive drop. It's going to be an engineered bust.
They can try to pump nd dump, but with all the recent publicity it's getting it could be hard to sell more than people are buying
Again, they own the media. They aren't doing this in your best interest. And no, you don't have the available capital to fight Wall Street.
Think about it... long term bitcoin has the potential to be a world reserve currency. It is ready for that today with the one missing ingredient being trust that tomorrow it won't be worth 90% less what it was today. If Wall Street sees that, why on earth would they buy in late? Why would they buy in at retail? Wall Street doesn't buy retail anything. They are the retailers. They are going to take advantage of the "bubble narrative" by "ignoring it" (JP Morgan lead analyst coincidentally comes out less than a month later and says they were wrong, it's the next gold... hmmm) and then activating it by being the catalyst. All weak hands sell, they buy at bottom dollar, and then they let it grow.
There will be a massive correction shortly. You can't fight it, but you can realize it. Immediately following the correction when Wall Street has gotten their share (and profited by shorting the shit out of it on the way down) prepare for the narrative post crash to be "well now with short pressure bitcoin is finally balanced at its true value and can grow organically" (releasing the idea of a bubble).
There's going to be one last crash before we go mainstream. And this one will be one for the ages. But if you think wall street is just going to roll over and admit they were wrong, you are very naive. And no one has the ability to fend off a Wall Street combined effort to crash something. Prepare as you will.
The moon's gravity is stronger than I thought.
20k before the end of the year
It's like people think its at $155 and not $15,500. How dangerous is it to accelerate at this pace without a correction?
Wish selling half my btc meant retirement for me. It'd mean I could afford a new pair of shoes though so that'd be nice I guess.
if wall street is driving this then they aren't "secretly pumping", they are "accumulating a position so they can make a liquid market". To make a market you have to be willing to buy or sell an exchange set minimum amount at all times. Market makers don't live on the hodl, they live on the bid/ask spread, and since they usually have a long position so they can always post an ask, they last thing they want to do is crash the market.
realism is not appreciated here
well, I bought some more now so expect crash right now
At this point the only intrinsic value of BTC is as a speculative tool
Traders can manipulate small caps and issues w/ low trading volumes. Traders can't manipulate large market cap issues w/ significant trading volume.
Further your implication is that the billioniares are scalping each other, which is also pretty far disconnected from reality.
And when they take profits, its not "short selling", it's closing a long position. And BTC futures will be cash settled, so no need to sell off positions just before expiry to avoid taking physical delivery. edit: Just let them expire and settle to cash. And they've already been settled to cash daily as part of the clearing cycle in the 45 min window when trading is closed.
And usually futures traders don't close positions before expiry, they "roll forward" the contracts (sell near month, buy far month) which is why you end up with contango loss if you use futures to simulate a long position in the physical.
Really, you appear to have no understanding of the actual mechanics of how the markets work, and are basing your entire understanding on "Trading Places", a movie that was made 30 years ago, dealt with inside information about unreleased crop reports, and was farcical even then.
Yes, when everyone sells at once and nobody is buying, you get a crash. But that is not a billionaire taking advantage of the market. The traders/billionaires are usually smart enough to sell into demand while it's still rising.
Meanwhile in reality land: the btc Blockchain is completely unusable right now.
This is getting scary
If you can, add some more like 13k, 14k, 16k, etc. We're really going through these fast.
EUR 14.7k.... That's unprecedented. It's definitely going to rise to 16k today on GDAX easily, probably even 16.8k....
And this is all before futures trading, but I fear it's the financial sector inflating before a significant shorting that'll drive the price. I really don't want to sound negative, I know that BTC will reach maturity at 30x current price in the future, but it just really seems like it's a bubble...
15.6k Wtf, time to make another thread in 15 minutes... 17k in 10h... At this rate we'll see 20k on 15th and 25k by the end of the year. Jesus.
Before CME or after I wonder...
Watching as well, it has insane buy support, breaking every barrier. Unreal!!!
No, it will fall 20-40% sometime in the next few weeks, undoubtedly.
Please happen soon. Please, okay? I've been waiting for a dip and it just isn't fucking coming. WHERE THE FUCK IS THE DIP MAN?! PLEASE GIVE ME THAT GODDAMN DIP!!!
If we go down to 3k again, I'm still happy.
20k by the time futures start
I think 12/17 goes down like 11/13, except without mt gox to crash, I don't know if bitcoin will either. I expect some market correction but not the 80% dip like after mt gox.
Oh yes it will
The percentage between each 1000 gets lower each time. At first you had to double your price, now you only have to increase by 7-8% to gain 1000 dollars. Soon we will be leaping 1000's.
I feel like that should scare all btc hodlers
Bloomberg talking head states he's "never seen before" this kind of buy support on a chart. Loving it!
16,000 by tomorrow!!!!
Each day seems like the craziest day in crypto history this past month or so.
Jerk off faster dammit! You're slowing the market down!
Yeah, this doesn't seem right. Nothing should rise this fast, exponentially fast. Since I got in at 4500$ I've been pulling my original investment back 20% at a time. Now I'm playing with house money and this still is making me nervous. I mean I guess I love seeing it go up but... maybe not quite so scary fast, there's alot of new adopters but.. something seems off.
I was sleeping like a baby and just woke up with a need to check my my phone... GOOD MORNING!
I'd wager on today and I'd wager upwards of 16k.
I 'm sure that, if they are betting billions, they 'll find a way around.
Yep I'm losing track of what thousand it is at. Went to dinner and saw 14k and didn't remember 14
Yesterday, I checked and saw something like $14,400 and thought it had dropped $500 or so, and then I remembered the last I checked it was actually hitting all time highs at $13,900.
The future is now.
Could you explain to me how exactly can the bank short sell btc?
If you actually believe in cryptoCURRENCY this whole farce should put you off bitcoin for good. Its become the worlds greatest pump and dump and thats all
I'm in this camp. Just watching this rise while eating popcorn.
There has to be a correction incoming. This is an insane bullish run.
It is crashing hard right now, aren't you paying attention. It's just in the wrong direction.
Nice one buddy!
I think a lot of true bitcoin enthusiasts wouldn't mind, it's not about price, it's about adoption and utility. And they'd all be buying the dip!!
I want in on this, but I have no idea what I'm doing
Why there's going to be a monumental crash in the next few months
These 100 coin sells are being eaten up and absorbed with no downward movement.
I read a lot on this sub that bitcoin is not a stock so stop treating it like one. I think this recent jump is starting to get more people to believe that's true. While your right there is a chance this wall street manipulation, I think it's more likely this is mass adoption. I've seen bitcoin on every financial website, tv station, and newspaper the last couple weeks. I personally think bitcoin hits 40k before 2018, not sold wall street will successfully manipulate bitcoin. They can try to pump nd dump, but with all the recent publicity it's getting it could be hard to sell more than people are buying
Always good to be aware of potential threats, the "bubble" will break but it's anyones guess as to when and how severe it affects recovery. To be continued...
Honestly, at this point I think it's all about speculation. Look at Steam backing out of taking Bitcoin, for example. There are a lot of problems with Bitcoin right now, one of them being the fact that its price has jumped 600% in the last six months.
May as well just prepare for 20k, 25k 50k now
Cool, everyone buy a car, get the first page of this subreddit full of your new cars, show off !
Unlimited money for everyone...
(all paid with dollars but nevermind that)
lel welcome to the party
Last Friday everyone at work said I was crazy buying in at 10,500...now they all asking me how-to get started haha.
Phase 1: pump Phase 2: dump?
-Love CME Futures
Morning, welcome to the safe alternative to crack!
Maybe whales, banks, private investors, etc. are preparing for the futures markets, is one theory.
Better look at 12/10 then too
Can US corporates legally open accounts on crypto exchanges? I thought they can’t trade non regulated assets
Who cares about Bitcoin,I am here for the meme.
It was my birthday a couple days ago and i was going to literally buy a new pair of shoes with my bday money. Instead i put 100 into btc at 10am yesterday
Don't expect intelligent discussion on /sub/bitcoin.
This guy sounds really smart, but could anyone eli5?
I bought at 8,217. If it dips to 3k I will stop doing whatever I am doing and buy $100 worth.
Couple weeks ago I thought btc might make it to $10,000 before the end of the year... now I'm starting to wonder if it can make it to $100,000...
We are approaching Mars. Up next Jupiter
This seems like FUD... you don’t pick who you buy or sell from on an exchange like GDAX... and one of the parties is always a taker, so you pay a significant fee. Can somebody smarter than me please clarify this point? Wouldn’t they basically need to trigger a flash crash by tripping everybody’s stop losses with a big market sell? And wouldn’t all the strong hands just buy the dip?
We're all gonna make it bruh
Or a speculative bubble...
We don’t know if it will burst, but breaking $10k brought in a boatload of new money all ready to make a quick buck. At the slightest hint of a crash, at lot of those people might unwind their position quicker than the panic-bought into it. So my guess is that a crash would take us back below $10k (-35% from the levels we are seeing right now).
But none of us can predict the future, so perhaps nothing will happen. This is all unprecedented.
the people and firms that trade for a living (and to afford the living of dozens of people in an office in downtown NYC) have enough money at stake to put buy/ask bids in the futures markets and the BTC markets to ensure they make money no matter what happens.
The really big players (whales) can even MAKE things happen to ensure they make money. There are laws (regulations) to prevent abuses - but bitcoin is not regulated.
Until now, the definition of "whale" in bitcoin has been measured in millions of dollars. After futures markets open, that definition will be 100s of millions of dollars.
Cash isn't rising. Only Bitcoin. So it means either lots of shit investors or manipulation. Otherwise, other cryptos would rise too if balanced investors were jumping in.
This climb is insane, we literally went up $3k in one day. Personally I'm bracing for a big correction, and then buying more ;)
Over 100k txn w/o confirmation since last night. Txn fees up to the roof. Put another way, if you're holding btc in cold storage you're going to keep holding whether you like it or not. And if you want to buy anything with btc right now, better camp out cause it's going to be a while.
When will it stop??
Bitcoin has no advantage over other crypto as far as “value” other than brand recognition. Literally anybody can fork and start their own bitcoin, crypto is not a scarce asset therefore it can not have any intrisitc value other than brand. Which is not worth 15k per coin.
I know people are telling you to wait, and I don't necessarily disagree, but the entire concept of dollar cost averaging is to NOT wait. You buy on a fixed time schedule so that the dips and rises become averaged. If you start to do things like waiting for a dip you're now playing a whole different game. You're betting you can predict the market - what if that dip doesn't come? Do you keep waiting? How long do you wait? Make sure you have answers to these questions before you decide to wait for a dip.