
Bitcoin about to cross $11,000 - electic
https://twitter.com/coinhubplatform/status/935836525748674560
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zerostar07
Thats weird, i thought these "round" numbers are mostly psychological. The
previous bitcoin peak was around $1000 and followed by a looooooooooong
winter. I thought it would repeat itself, hover around $10000 for a little and
then go for another looong dive.

But maybe there's too much market activity to stop it yet.

It's fun making this kind of predictions. I would wager for fun that it will
not reach $20000 before it starts the dive.

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berberous
Coinbase is the #1 trending app in the iOS App Store right now. Crossing $10k
is getting a lot of press and causing a lot of FOMO. The wall of dumb money
about to enter is huge and may be able to keep this rally going for a while.

~~~
zerostar07
thats why i assumed that the previous peak had to do with a lot of press about
bitcoin crossing $1000. but maybe it was just mtgox

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oblib
This feels so much like a "Pyramid" scam, or "irrational exuberance" and
markets are climbing with it, and for no good reason other than too much money
in too few hands.

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Cthulhu_
No doubt. There's a few parties with a lot of money to invest; I'm sure every
once in a while they chuck a few million into the market, raising the price
above a certain threshold. News outlets pick up on it, a lot of people's
interest perks up, they buy quickly to ride the upwards wave, annnd the party
that bumped the price up initially slowly sell off again. Easy 30% return on
investment.

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dvfjsdhgfv
In this case it might be a bit more than 30%.

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Silhouette
There was a story on the BBC News site about it crossing $10,000 just... well,
today, actually.

Part of me is disappointed that I missed out on an opportunity to make an
awful lot of money quickly when I wondered about buying some a couple of years
ago and decided it was too dicey.

But then part of me thinks anything that has gone up in on-paper (on-screen?)
value by an order of magnitude this year, and now roughly doubled in just the
past month alone, is still surely being carried by pure hype, and some people
are going to lose an awful lot of what they thought they had if it turns and
they try to sell and find they can't.

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singularity2001
the true investment apocalypse will happen when BTC falls back to below $1000
and the average Joe invest thinking that it is now so cheap. Then it's the
time for bitcoin to be replaced by another coin and to fade away into
nothingness.

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api
Is this the hyper- _deflationary_ collapse of a currency?

Hyperinflation gets all the rhetoric but currencies in fact have two different
failure modes. (Well three if you count apocalypse but that's different.)

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smackmybishop
If this is failure, I'd love to see success...

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vorotato
A currency is only useful to the extent that it can be traded. Something which
is 1 dollar one day and 10000 the next is worthless as a trading medium. It's
why we don't buy and sell things in gold any more. We just sort of sit on it
uselessly.

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lafar6502
Well maybe some people really can’t live without bitcoins

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elysian_eunoia
Wow, it was hovering around $8,000 less than a week ago.

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gyvastis
Let's turn back the time a few years, I want to make some adjustments to my
investment.

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miguelrochefort
It's time to buy.

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Cthulhu_
That's exactly the sentiment that the large BTC traders want to share, so they
can sell off the stocks they bought a week ago at 30% below what it is atm.

