/biz/ - Business & Finance

>>14995064
now how low is it going? my guess is $5-6k

>>14995081
We will have to wait and see the results of the finex hearing. If things are as bad as I and many other bobros suspect, we are going sub 3k this year.

The tether ponzi had to come crashing down at some point.

>>14995064
I did listen and got rekt by that massive 11.2k candle.I'm legit just going to watch and see what happens, might buy again in the 8k region.

>>14995064
this is almost sexual

>>14995104
Lmao imagine being stupid enough to think we'll ever see 3k again. This is just a pullback to the 20 week moving average at 7500 or so. Have fun missing another buying opp

>>14995064
lmao at the fact that ~9000 is now considered low. next year when BTC is sitting at 30-50k you're going to regret all your decisions in life. BTC has always gone up in the long term

>>14995180
> we just need to cool of for the next rally

>>14995197
>this is a suckers rally
t. you

Bullrun is over. This is the confirmation of another year of bart moves.

My prediction is Bitcoin at 3 digits before EOY.

>>14995197
welcome to disbelief

i did listen though. im sitting comfy in a cash position.

>>14995204
we way past that now, that was at 7k
now the bubble has popped again and the same people will just call it a pull back again

>>14995064
>build liquidity
You sound stupid

>>14995230
zoom out faggot

>>14995064
Shorting shitcoins every opportunity I get

>>14995245
lmao what? zooming out proves the bulls point further. bitcoin is up like 999999999% since 2014

>>14995245
also market cycles don't last 5-6 years

>>14995263
> he think buying an asset which went up 13 000 000 x in 10 years is smart

>>14995235
there were fundamental reasons for the 2017 crash. fees were exorbitant, bcash just forked and was launching a war against bitcoin, and a lot of exchanges stopped allowing people to sign up because of how popular it had become. nothing fundamental has changed like that to warrant an end of this bull run

>>14995064
Sell low buy high, bobo

>>14995180
Your TA is under the assumption that everything is ok with tether.

It's not. A tether collapse would see us go sub 3k easily.
The faster it comes, the better. A tether collapse is in everyone's interest in the long run. Institutions aren't touching btc until tether is gone and things are regulated. Then we'll have our golden bull run.

>>14995287
yeah keep investing in things that don't go up. gl

>>14995295
>. nothing fundamental has changed like that to warrant an end of this bull run

2 days

>>14995197
>>14995230
>>14995245

faggots

>>14995295
You was not here in 2017 here or you are just idiot.

Last bull run was created with FIAT money from normies. This last bull run was created printing +$3b of Tether since January. Now they need to burn it and retards that bought this year will be scammed.

>>14995295
You was not here in 2017 or you are just idiot.

2017 bull run was created with FIAT money from normies. This last bull run was created printing +$3b of Tether since January. Now they need to burn it and retards that bought this year will be scammed.

>>14995303

>Muh tether collapse

Enjoy getting liquidated.

>>14995368
>bulls so delusional that they acknowledge tether is a ponzi but somehow hope it will continue

yeah i'm sure having only 50% in cash to back your stablecoin is really healthy

>>14995303
>tether collapses
>people panic sell their tether
what do they sell their tether for, bobo?

>Mfw op is right but all the deluded TA fags are screaming about muh pullback and support lines

>>14995502
yeah it's what happen last time there was a panic
then it dropped to 3k
except this time it might already be priced in and the fiats pairs will not follow at all

>>14995502
yes and then what money continues the pump? new tether being printed is all that props up BTC. tether has been the absolute source of nearly all pumps within the last few months.

we would see a quick exit scam pump of a few thousand at most and then a massive dump to sub 3k

>>14995502
Who will buy their worthless tethers retard?

>>14995350
tether was around in 2017 too retard

>>14995599
>tether has been the absolute source of nearly all pumps within the last few months.
there's no way to actually prove this. plenty of fiat has been going into the market as well. i know because i've been contributing my own measly amounts

>>14995797
>there's no way to actually prove this.
LMAO

AHAHAHAHAHHAHAHAHAHAHAHAHHA

YEAH I'M SURE THERE'S MORE MONEY IN CRYPTO NOW THAN AT THE PEAK OF 2017

LOOK AT THE TETHER MCAP RETARD
THE MCAP OF TETHER HAS ALWAYS RISEN JUST BEFORE BTC PUMPS

it's confirmed they don't have anything close to 100% cash covering their coins. connect the dots. they're insolvent and the ponzi is over.

>>14995797
have you ever heard of money flow charts ?
https://coinlib.io/global-crypto-charts

fucking clueless

>>14995797

>>14995823
There is quite a bit more money in the market right now than at the peak of 2017. People are just paying lower prices for each coin. You don't really get how this shit works do you?

>>14995775
oh yeah the finex scam worked brilliantly in 2017 because they managed to create normie fomo and bring million of peoples to dump on them all the way to 20k
too bad normies aren't coming this time, they should have waited an other year but they got greedy or maybe they knew they were getting shut down ...

>>14995888
>There is quite a bit more money in the market right now than at the peak of 2017.
yeah, i'm sure that's why the mcap of tether is double than that of what it was in 2017?
you are so fucking low iq it's unbelievable

>>14995849
retard, you know tether is also used as a stablecoin when people sell their crypto to put it in cash and then move it back into BTC or other coins. this chart does not mean printed Tether is going straight to buying BTC you mongoloid

>>14995904
>people buy tether in a bear market
wow that's fucking crazy dude
have you considered as well that there are more bears than in 2017 and more people choosing between btc and tether than in 2017? that is what happens when the market grows. Just because the valuation doesn't follow the exact same trend doesn't mean the market hasn't grown.

>>14995937
what happen when tether goes to zero and that 70% need to be supported by 30% of the market ?

>>14995961
imagine defending this ponzi

it's literally known that they don't even have 50% cash to cover their coins. their cash equivalents are literally just BTC.

>the market hasn't grown.
it hasn't literally. there is not more money in crypto now than at the peak of 2017. the normie money has been scared out. the institutions still haven't stepped in (guess what, they won't until ponzis like tether are gone and crypto is regulated). you are beyond delusional if you think otherwise.

just remember that you were warned.

>>14995961
there's not a single evidence that tether is backed they have literally never been audited except by themselves
on the other hand the NYAG investigation has dug up so much dirt and already proved that they were missing at least $850M in April, since then 1.5B more tether have been printed

zoom out idiot

>>14996004
again, this assumes the tether ponzi will continue

>>14996004
If this is accurate, then we are definitely revisiting 3k and maybe lower. Thanks anon!

>>14996019

in 5 years you will be crushed. Tether has only been relevant for the past 5 years, only half of the near decade of btc dominance..

>>14996004

Yeah because the amount of money being pumped in will increase a thousandfold just like that. Retard logic

>>14995968
they use any of the other 100 stablecoins instead?

>>14995502
>what do they sell their tether for, bobo?
Anything they can get

>>14996004
fomo will soon set in when more people realize halving is only 10 months ahead

>>14996101
>in 5 years you will be crushed
yes i agree but i'm not bearish on btc long term. i'm bullish as fuck for all of crypto. i'm still hodling a bag of link while shorting btc.

but there's no way in hell i can be bullish on btc in the short term while the tether ponzi still exists.

>>14996113
good luck covering the entire mcap of tether

>>14996111
you really have no idea how this works. it's not about money being pumped in. it's about supply to the market being halved in 2020, therefore making it more valuable in price.

>>14996113
there's not enough volume >>14995864
how hard is it to understand

can any one of you faggot tether FUDsters provide me with the following:
1. proof that increases in tether supply predominantly precede BTC upswings, since I’ve never seen anything of the sort
2. a reasoning as to how exactly bitfinex was able to raise $1B from insiders (who presumably have more information) within 10 days, it the situation really is as dire as you like to postulate

>>14996200
> 1. proof that increases in tether supply predominantly precede BTC upswings, since I’ve never seen anything of the sort
see pic
> 2. a reasoning as to how exactly bitfinex was able to raise $1B from insiders (who presumably have more information) within 10 days, it the situation really is as dire as you like to postulate
nobody backed anything, you still belive finex lies

>>14996173
what are you even saying? people across exchanges sell their crypto for tether when they want to put their money into cash but there isn't a fiat onramp/offramp. if tether for some reason ceases to exist, another stablecoin will take its place. for example coinbase has USDC. there's also PAX. whatever

>>14996200
>was able to raise $1B from insiders
you guys don't really believe this still? r-right?

>>14996222
doesn’t that just imply demand for Tether increases as price increases? that would be a lot less of a stretch of the imagination, occam’s razor and all that.

also the bitfinex/tether situation is pretty straightforward. see pic. NYAG also definitely overstepped their bounds, fairly confident case will be thrown out next week.

>>14996259
I actually personally know one of the main investors, so yes I do.

>>14996226
HOW FUCKING RETARD CAN SOMEONE TRULY BE
LISTEN FAGGOT I WILL EXPLAIN THIS TO YOU IN VERY SIMPLE THERMS SO YOUR TINY TINY BRAIN WILL GET IT THIS TIME

the market is a balance between seller and buyer
> on one side BTC holder wishing to sell
> on the other peoples with money or stable coin wishing to buy
now why does the price go up or down ? because there's unbalance either more seller or more buyer
now imagine that 70 FUCKING PERCENT of those seller vanish BECAUSE THE MONEY WAS NEVER THERE IN THERE FIRST PLACE well I would say that's a pretty fuckign bing imbalance now
they can't just go into other stable coin because they don't fucking exist

>>14996271
>source: dude trust me

i can't believe i'm saying this, but there might be unironic paid tether shills on here

>>14996284
>70 FUCKING PERCENT of those BUYERS vanish*

>>14996287
>source: dude they’re lying, trust me.

the only thing I don’t know is whether the NYAG case will be dropped or not. everything else can be considered pretty reasonably.

I guess you must just have a giant short open or somethings, idk.

>>14996261
>doesn’t that just imply demand for Tether increases as price increases?
you are saying there was more money in crypto during the bear market than the bullrun of 2017.
sorry but the normie money has disappeared over the last year and no institutions have stepped in.

if you want to stay delusional and believe finex lies, then go ahead.

>>14996315
i'm not the one who has to provide proof lmao

they're the ones who haven't been audited by anyone other than themselves

they are LITERALLY the embodiment of
>dude trust me, we didn't magically print most of our coin without backing

> oh look
are you ready for the bart UP

>>14996352
so you’re saying they would risk everything they have, to commit a crime that they would know they could never feasibly get away with (over the long term), to make an (admittedly) huge amount of money in the short term.

I suppose people do dumb scams all the time, but that seems pretty unlikely imo.

isn’t tether much more widely used now than it was back then? when was it even added to binance for example

>>14996284
lmao literally seething.
link something that shows that 70% of tether isn't truly backed. also, if tether comes crumpling down, you'll be amazed how quickly people will move their funds into something else. the market might take a small hit but it won't be catastrophic.

>>14996398
>isn’t tether much more widely used now than it was back then?
yes which is why the crash will be massive

>>14996399
link something that DOES
the burden of proof is on them you fucking retard. they haven't shown a shred of evidence that even 50% is backed. no one has audited them.

>>14996352
bloomberg reported that Tether looked fine

https://www.bloomberg.com/amp/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised

you idiots can continue to drive yourselves crazy like the guy below, but this fud has been going on for years
https://twitter.com/tetherprinter?lang=en

>>14996284
I think you have your logic wrong there anon. No one is disappearing. The buyers and the sellers are still there even if tether goes away. They just use a different coin if tether is gone.

>>14996398
the scam worked amazingly well in 2017 why not try again ?

>>14996399
> link something that shows that 70% of tether isn't truly backed
> I'm not even talking about that, you still don't understand what happen if tether is fucked
you're too fucking stupid i'm done

>>14996435
that doesn't prove anything lol
it has no concrete evidence

until an independent entity does a full audit of their finances, you can't say everything is fine

>>14996442
congrats on rage quitting.

>>14996437
i'm getting insane

so please explain to me what do you think happen when, all those peoples holding tether can't do anything with them ?
they have lost all their initial investment where does the money to replace all those now worthless tether come from ?

>>14996462
>until an independent entity does a full audit of their finances, you can't say everything is fine
i agree a full audit would be ideal, but there is more evidence showing that things are fine than not fine at this point. therefore all this shit is FUD imo

Holy shit this looks promising, this will crash straight to 7.x only brief visit at the 8.x

>>14996504
>but there is more evidence showing that things are fine
but there literally isn't. there is at least a billion or so that's unaccounted for. that's best case scenario.

>>14996482
tether won't go from $1.00 to $0.00 in a split second in your apocalyptic scenario. there will likely be news leading up to such an event, and time for people to move their tether into crypto or another stable coins, even if it's at $.90 or $.80. they may lose some money if tether crashes to $0.00 and don't get out in time, but it's not like an on and off switch.

>>14996545
I believe it’s 700 million, which is accounted for, just not in their control.

(Loaned to Bitfinex to cover frozen funds)

>>14995322
>>14995303
>>14995382

Can someone explain to me why banning tether would be bad for bitcoin? wouldn't all the people that are tethered forced to get out and buy bitcoin (or others) with it?

What am i missing here?

>>14996545
even if all $4billion tether was missing, that is 2% of the total crypto market cap. the markets wouldnt be affected at all in the long term

>>14996597
you’re not missing anything. it would definitely be a negative event, and would destroy some trust in the short term. but it would hardly be some catastrophic event.

>>14995599
Wouldn't that be speculators who got out of BTC in hopes of buying in lower? It sure would show as tether pump

>>14996597
did you even read through the thread kek

>>14996557
> it won't go that fast
who's gonna give you anything for tether if it's worthless ?

by the time the news spread there's a equal amount of tether holder and potential tether buyer learning it
sure a few lucky one will get out fast but the majority will get fuck and all this fake value will be lost

>>14996601
oh god you're so fucking dum, you just don't understand how and why the price move
it's astonishing really

>>14996601
>that is 2% of the total crypto market cap.
but 70% of the volume for BTC. mcap is not liquidity you retard.

>>14996607
Okay but i still don't get why is it negative overall, the way i see it it's neutral as i has little to do with BTC. People would just trade with dollars or euros directly?

And yes i have no clue why tether is usefull. Is it just to circumvent regulations?

>>14996665
read through the thread please. see >>14995864 >>14996222

>>14996658
it's just people on exchanges moving their funds back and forth from crypto to a stablecoin. that volume will just move to another stablecoin like PAX or something. there's nothing that has proven that printed tether is going straight to buying BTC

>>14996714
>that volume will just move to another stablecoin like PAX
sure but it would take time for them to cover tether's volume since they literally don't have enough. in the meantime btc would plummet hard.

>there's nothing that has proven that printed tether is going straight to buying BTC
how dumb are you lol. see >>14996222 and >>14995849

>>14996646
>oh god you're so fucking dum, you just don't understand how and why the price move
>it's astonishing really
you're literally seething so hard. you know this Tether conspiracy shit has been around for like 2 years right? tell me, when do you think Tether will collapse? what do you think will happen to BTC? do you think all of crypto is doomed because of Tether?

>>14996766
>do you think all of crypto is doomed because of Tether?
BTC would be absolutely fucked for at minimum a few months, meaning it would take down most of crypto with it. Promising alts with USD pairs could do decent in this market. And by decent I mean not bleed to 0.

>for like 2 years right?
Yeah, that's literally nothing. The crash is coming.

>>14996766
>do you think all of crypto is doomed because of Tether?

no I never said that
but you don't even understand the basic of liquidity so I'm not expecting much here

>>14996745
>>14996222
why are we dumping right now then with tethers printed at ATH's
>>14995849
see >>14995937

>>14996745
>sure but it would take time for them to cover tether's volume since they literally don't have enough. in the meantime btc would plummet hard.

Why? Why sell BTC because Tether is done for? Just park your money in BTC instead?

And even if it does tank short term wouldn't this be a buying opportunity knowing tether manipulation is gone?

>>14996831
no new tether has been printed recently retard. that's why we're dumping.

>>14996801
I never said that you said that. I'm asking what you think. You can't even answer questions your seething so hard. I've answered all of yours.

>>14996848
>And even if it does tank short term wouldn't this be a buying opportunity knowing tether manipulation is gone?
yes of course. i'm bullish on btc long term but in the short term it would send it to sub 3k.

>Why
because the entire price of btc is currently propped up by tether manipulation. no new tether has been printed recently and look how its dumping. there wouldn't be any buyers in the short term (because tether is useless and represents most of the volume) and it would dump hard.

>>14996850
they literally printed $100million tether like 2-3 weeks ago mongo

>>14996831
>why are we dumping right now then with tethers printed at ATH's
selling pressure is too much for the amount of tether, the higher the price = the more tether needed to go up
they have printed almost nothing in 20 days too

>>14996855
here what I see

> 1 USDT is backed and we will most likely go back up bottoming in the 8000
> 2 USDT isn't backed 100% and the NYAG force finex to burn the unbaked coins we go down to 6k in a few month hand possibly 3k by eoy just like it did last time, then double bottom and start going up again
> 3 Finex is flat out shut down we flash crash to 1k in a mater of weeks because of the panic then start to creep back up

>>14996897
100m is barely anything compared to before. and look what's happened in the meantime. they need billions to keep propping up this market from crashing and it's not coming.

>>14996916
I must also add that tether is just he biggest fud right now
there's also the CFTC investigation of bitmex, the gox coin still have to be sold, Trump talking about crypto ban, IRS looking into trading gains

Did everyone forget a few weeks ago when 5 billion tether was accidentally printed

>>14996929
>bitcoin goes up and tether printed: SEE TETHER CAUSES PRICES TO GO UP!
>bitcoin goes down and tether printed: I..IT'S JUST THAT TETHER ISN'T PRINTING ENOUGH!!
hnnnngggggffnfngggggg

>>14996980
yeah they didn't print enough. see >>14996916
would've dumped harder if none was printed.

>>14996052
That's not what the chart is showing. We're exactly there where we should be.

>>14996886
Tether market cap is 4bil while BTC is 168 i highly doubt it can tank the price by 70% even if everything you say actually comes true. And remember to get out of tether you need to buy crypto first. What's to stop another huge pump (people trying to get out of tether by any means necessary) and then (presumably selling) that crypto? You see maybe just maybe they don't sell then seeing a big rise and we have a start of new bullrun.

Whatever the case i see no reason to sell BTC over shitty Tether collapse.

>>14996287
I want to believe this or the iq of this board is lower than I thought

>>14995064
>We posted multiple times yesterday
Wait, does that mean you did not cash in on yesterday's market just because you were waiting for shorting opportunities?

Literally why? You could have made a full wagie's monthly salary in a few hours.

>>14997020
i....

there's just no point anymore. if you don't understand how mcap and liquidity work, i can't help you

>>14997004
>would've dumped harder if none was printed.
yeah that's truth but still, that's in the case where they would still have tethers left just like in November

>>14997035
let it go they don't understand what liquidity mean

>>14997035
they don't even understand how misleading the MC calculation is

>>14997035
you have to realize theres autistic basement dwelling faggots who unironically have no clue how anything works

>>14997150
I get that this board likes to belittle everyone, but...hey man not cool, i'm just trying hard to understand this and asking questions. I have a clue about other things though. And i'm sure there are things you are clueless about aswell.

>>14997035
Well thanks for trying at least..

>>14997150
>if i start acting like a self righteous retard the nufags will believe me
yes here here newfags, you should SELL all of your cryptocurrency right now. i have only good intentions in saying this. SELL.

>>14995303
well said
retarded longs don't realize its no longer 2016-2018...people don't trust bitfinex anymore. many can't even get accounts in bittrex, binance, etc. look at coinbase desperately trying to get new users by GIVING OUT FREE tokens via the "earn" lessons. it's all so pathetic. i would estimate that only about 50% of the hype remains compared to previous 2019 highs. the hype is fading.

>>14997320
must also add bitmex to the list of exchanges people don't trust or can't even use anymore.

>>14997258
the market cap is irrelevant what really matter is how much traders are willing to buy or sell ie: liquidity, right now tether represent 70% of the buy orders for BTC see here >>14995864
if those tether are now declared worthless ( BC not baked by anything ) you lose 70% of the buyer, but there's just as many BTC seller as before so they try to sell in the remaining part of the buy orders which is not enough to keep the price up and the price crash

that's the most basic explanation I can make

>>14997150
Those clueless basement dwellers are still better off than obsessive schizo FUDers hanging on bitfinex'ed teet for 3 years.

>>14995064
100K END OF YEARR