10-29 16:34 - 'Next stock market crash will rival the 1929 Great Depression. Fool me once, shame on you JP Morgan; shame me twice... nope, just buy Bitcoin.' (youtu.be) by /u/cryptonaut414 removed from /r/Bitcoin within 689-699min
Mark Karpeles will have the ability to crash bitcoin at any time and effectively control the market.
If Karpeles is returned the assets of a now fully solvent Gox he would have under his personal control enough bitcoins to crash the market at any time he pleases. What many people are also not comprehending is the hundreds of thousand of bitcoins that were locked up due to the Gox bankruptcy prevented many people from being able to sell. These were real active coins that were being traded against fiat. At the time of the Gox bankruptcy roughly 9 million BTC existed. If we assume 20% were lost forever and subtract Satoshi's rumoured stash of 1-1.5 we get roughly 5mil btc. Over 10% of the supply was immediately withdrawn from the market with the Gox bankruptcy. This was a critical event that may have prevented the price from heading to single digits and may have set the stage for the 2017 pump. The gox freeze halted a panic sell event that Karpeles thought would take place. Karpeles wanted to take everyone down with him hence his engineering of the pump. He expected the gox failure to send a huge loss of confidence in btc itself and he was partially right when the bear market drove the price 80% over a lengthy period. However what he failed to realize was that the gox bankruptcy would freeze up a massve chunk of available supply. If we do the math of actual marketable supply, that is supply actively traded, that number may even jump to 50% of the total available btc. Mt. Gox is directly responsible for the 2013 pump and dump while indirectly contributing to the 2017 pump by keeping so many bitcoins off of order books. Mt. Gox is now even more important than ever before because 1 person may have the largest known BTC stash. Mark Karpeles may exit the Gox bankruptcy bitcoin rich. He will become the most significant active market actor in BTC history. Karpeles will defacto have veto power over BTC rallies since the potential supply overhang is massive. Finding a bagholder for billions of dollars worth is not the same as finding bagholders for thousands of dollars worth. So the bitcoin experiment can be chalked up as one gigantic failure if we measure it by the claims of bitcoin shills. The concentration of btc in so few hands, where a single man Karpeles can tank the market when he pleases surpasses any so called economic despotism known to man. Store of value anyone?
MMW: In late 2019/early 2020, the stock market will crash and Bitcoin's price will surge to $100,000
The two events won't necessarily be because of one another, they will just both happen within that time period. I'm not monetarily invested in either, it's just what I think will happen. I figured this would be the best time to post this since things are quite the opposite right now.
Do you think the inevitable crash of Bitcoin will take the whole market with it?
Bitcoin right now is useless. The only thing it has is its name. New people just getting into crypto will read about bitcoin, buy it and sent it to exchanges, but when they see the $30 fee to send $30, they'll realize how old and congested it is. Therefore, market will move toward ETH, LTC or maybe BCH. No one will have any incentive to buy BTC, people will sell it, price will definitely go down. But a market crash for bitcoin is not a good thing for the market, at least til now. THe market will disassociate itself from BTC, but until then, can the market recuperate from the crash of bitcoin?
It's weird, ever since being introduced to Bitcoin I don't really worry that much if the stock market is crashing (DOW down 600pts again today). I know that if there is a true emergency, Bitcoin will be one of the vehicles people flop to.
Stock market crash/crisis will be the real start of bitcoin?
I'm reading and hearing more and more economic experts prediction or thinking that the next big financial crisis is around the corner. https://www.youtube.com/watch?v=fdYXGhY4Dpk Let's think of the previous one in 2008, it resulted in the birth of bitcoin. Will this next one be the big start for bitcoin? How are you guys thinking about it? If there really comes a crisis, bitcoin can "take over" the market faster as we can imagine?
Megadiscussion: Is the coming Bitcoin crash going to flush the whole market, or will people jump ship leading to the biggest Ethereum run in history? There is no question more important for Ethtraders right now!
and we need a heap of text here to start a discussion. i don't want to put my opinions in right at the beginning as that would lead the conversation into disputing/agreeing with my points. has anyone done any kind of analysis into this? or are we all going on gut feeling here? what does your gut say, it might save me, and everyone else, from losing all the gains i've made here. as a community are we capable of coordinating a response strategy? like setting up trades to go in when Bitcoin falls below a certain point it triggers a pot of Eth buys pushing the price up for long enough to attract all the dumb money trying to cash out into 0.0$$'s ..and let be honest. ALL exchanges are either going to crash, or block BTC trades to fiat when it hits. That money has to go to somewhere ..or smoke
Bitcoin and other major cryptocurrencies are crashing in a sudden and dramatic market collapse. After weeks of steady gains, bitcoin dropped in price by more than $300 in the space of an hour on Will economic meltdown benefit or cause bitcoin market crash? The last major crash we had was in 2007-2009. Historical study of all minor corrections to major crashes tell us that when market does not have a correction every 4-6 years and keeps climbing – the eventual crash is usually devastating. History is proof of this. Bitcoin believers may disagree, but most experts are in agreement that the run-up in its prices is a bubble. The question for them is when, and not if, its price will crash. Bitcoin is the dominating crypto currency. The recent crash only managed to get its price back to where it was last December, which means it is still profitable compared to a few years ago. Don't look to Bitcoin as some sort of alternative to gold or gold miners like Newmont Corp. (TSX:NGT)(NYSE:NEM) to defend against a market crash.
Bitcoin & NYSE live stream! Dow Jones pump then crash ...
I'm expecting a possible bitcoin & NYSE crash on the 13th which just so happens to be on Monday when the US stock market opens. If you're bullish on BTC and expect a pump, then I think it's very ... If stocks crash BTC will crash too. I think the NYSE and Bitcoin are setting up for a massive dump that is just around the corner. ... btc price, btc market, btc analysis, btc bull run, btc bear ... #bitcoin #btc #NYSE Bitcoin price crash, bitcoin price dump, Bitcoin, bitcoin news, bitcoin price, bitcoin analysis, bitcoin trading, bitcoin bull run, bitcoin bullish, bitcoin crash, bitcoin ... Bitcoin Crash? Bitcoin just dipped 3% overnight. This videos goes in depth to explain exactly why. Bitcoin Crash may be in the future. Will bitcoin continue to fall? In today's Video stocks tick ... I'm expecting a target of $8900 for bitcoin soon. If stocks crash BTC will drop a lot more. I thing the NYSE and Bitcoin are setting up for a massive dump that is just around the corner.