Crypto carnage—Bitcoin, Ethereum, Dogecoin all bomb lower?

BTC is its own animal, I wouldn’t consider
a currency as it is tied to gold and its ups
and downs are going to be related directly
to that, so big gains are not possible but
with BTC there is know such association
so there is no governor on the motor.

 

Log in or Sign up to hide this ad.

BitCoin could technically see weakness to 20,000 according to a CNBC TA.

 

Investment that you could spend if you wanted too

 

If someone took shares of FB or MSFT or AMZN, that wouldn't make them a currency because I could "spend" it, right ?

I think these digital "currencies" are just like their creation: binary. They're either going alot higher over time, or headed to zero.

That's what a stock is for me, not a currency.

 

You can literally spend crypto if you want its not like a stock you have to sell to spend. They're a hybrid but no they were never really intended to actually replace a countries currency anymore than credit cards were

 

I sure hope so, the farther it drops the more potential for eventual growth
speaking from someone that is long term investor, I am eventually looking
for some regulation from the fed which I think will reinforce it as a more
legitimate way to pay for things, just saw a local A/C company on the side
of there van saying they accept BCT

 

All speculation, the bottom line.

 

Some of the backers think they ARE supposed to replace currencies.

Look at this Dogecoin....a joke initially, now has a market cap of billions.

 

Which ones would those be? That's an honest question as most of whats read about all of them is wildly inaccurate.

 

Bitcoin and Etherium seem to be the most likely to gain share as "currencies."

I guess if we go cashless, they have a chance. Can't use cash at CitiFIELD but not sure if it's a Covid thing or permanent change.

 

Massive bitcoin mine discovered in UK!

https://www.cnbc.com/2021/05/28/bitcoin-mine-discovered-by-uk-police-on-cannabis-farm-raid-.html

 

Almost certainly permanent with Covid as the excuse. Cant lie about income on taxes or steal from the register with cards

 

The hedge fund backers like Miller, Dalio, and Druckenmiller. Plus the specialist firms that deal only in crypto and are sort of like the old Gold Bugs and Apocalpytic Horsemen -- but digital.

 

Thank got for BTC