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Ripple’s XRP tumbles to its lowest levels of the year

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20 minutes ago, RafOlP said:

Today bitcoin's marketcap is about 127B USD, how much "institutional money" you think will come to bitcoin this year?

This year?  Probably zero.  How much is sitting on the sidelines?  No clue.  Others will probably have some ideas.

21 minutes ago, RafOlP said:

I don't believe the spikes in the price last year were caused by "institutional money" buying bitcoin, I believe it was a speculative buy the rumors sell the news on many aspects, but specially the CME CBOE inclusions.

Agreed;  it's been all speculation and manipulation thus far.

22 minutes ago, RafOlP said:

At some point it can't be just "Q1 market performance". If bitcoin repeats the 2017 yearly performance for 5 more years the value of 1 BTC in 2023 will be 9,143,008,000 USD and satoshi will possess 9.143008e+15 USD and will buy the entire world.

Never going to happen;  the system will find its point of balance much sooner than that.   Not sure where that point resides, but my gut feeling is that BTC could support 100k price without breaking a sweat.  

500k?  Maybe.  1mil?  hmmm...not so sure about that one.   10mil?  The entire network will crash and burn way before this ever happens.

So in other words - agreed that repeats of past performance will not last forever.

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2 hours ago, Valhalla_Guy said:

Probably my fault. I bought $200.00 worth yesterday at $0.57. Always goes down after I purchase...:huh:

Perhaps I will make the ultimate sacrifice and sell my whole bag worth... Once I am out of the market, it surely will cause the price to skyrocket for the rest of you.

Same here..two times now..next day!!!! :(

 

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16 minutes ago, automatic said:

Never going to happen;  the system will find its point of balance much sooner than that.   Not sure where that point resides, but my gut feeling is that BTC could support 100k price without breaking a sweat.  

500k?  Maybe.  1mil?  hmmm...not so sure about that one.   10mil?  The entire network will crash and burn way before this ever happens.

So in other words - agreed that repeats of past performance will not last forever.

The point is exactly that. At some point there will be a bear market that will define the real baseline. Is it happening now? Maybe.

100k based on what reasoning? That is what I miss in this market, there is no rationale behind valuations.

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41 minutes ago, XRPHdlr said:

Same here..two times now..next day!!!! :(

 

You too huh?  It's not that big of a deal really.  Any fear or doubt about Ripple is unrealistic imo.  They are the Amazon of cryptocurrencies again, imo.  Just cause the price dips today doesn't mean in can't reach the stratosphere later.  HODL for lyfe! 

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1 hour ago, RafOlP said:

100k based on what reasoning?

Based on speculation, perception of value, limited supply + deflationary nature of BTC, and first-mover advantage (everyone knows what Bitcoin is;  Hedge funds targeting majors first).

In other words, enthusiasm alone can take BTC to 100 in my opinion.

Is the fundamental value there?  Not IMO, but as long as someone else is willing to pay that amount then it will be.... and I think that there are plenty of people out there who will be willing.

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3 hours ago, minicuzzo said:

Knock yourself out.Create your own coin.Call it ferraricoin.Weiss will rate it A+ right after dogecoin

Haha, no doubt and I'll be the winner of the whole ordeal.  Too bad we aren't calling it Ferrari Coin.  That does have a nice ring to it. 

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1 hour ago, automatic said:

In other words, enthusiasm alone can take BTC to 100 in my opinion.

Ok, I see, it is a feeling, I don't have a problem with that, I have mine too :)

But this is not a valuation model, those require choosing parameters, numeric assumptions and premises. This is what nobody came publicly with so far, not even gross attempts.

Edited by RafOlP

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39 minutes ago, RafOlP said:

Ok, I see, it is a feeling, I don't have a problem with that, I have mine too :)

But this is not a valuation model, those require choosing parameters, numeric assumptions and premises. This is what nobody came publicly with so far, not even gross attempts.

I prefer to think of it as an "educated guess" based on current patterns.   ;)

But yeah - how does one build a valuation model against a market built solely on speculation?  I suppose that it may be possible, but it would require granularity of information that may not exist at the moment.

Anyway - I agree with you;  no valuation model here.  Just observations.

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For small investors like most of us here the only way to make money is on the way up. But the big financial institutions are much more sophisticated. With derivative products like futures contracts they can short an asset and sway it’s price so that they make money not only on the way up but on the way down as well. Wash , rinse , repeat.

You will  never hear about that on CNBC  hehehe .

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3 minutes ago, Blockchained said:

For small investors like most of us here the only way to make money is on the way up. But the big financial institutions are much more sophisticated. With derivative products like futures contracts they can short an asset and sway it’s price so that they make money not only on the way up but on the way down as well. Wash , rinse , repeat.

You will  never hear about that on CNBC  hehehe .

Like Lehman!

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12 minutes ago, XRPHdlr said:

Like Lehman!

They’re all doing it and it’s perfectly legal. There’s only one prerequisite, you need huge amounts of money and that’s why small investors are not in the loop.

Before January 1st the crypto currencies market was wild and free but that’s over for ever. Wall Street will tame the cryptos market and they will pocket the profits. Sorry.

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8 hours ago, RafOlP said:

 

Today bitcoin's marketcap is about 127B USD, how much "institutional money" you think will come to bitcoin this year?

I don't believe the spikes in the price last year were caused by "institutional money" buying bitcoin, I believe it was a speculative buy the rumors sell the news on many aspects, but specially the CME CBOE inclusions.

 

 

At some point it can't be just "Q1 market performance". If bitcoin repeats the 2017 yearly performance for 5 more years the value of 1 BTC in 2023 will be 9,143,008,000 USD and satoshi will possess 9.143008e+15 USD and will buy the entire world.

I am a big fan, but my point is: there is no reliable model to evaluate cryptocurrency prices available.

2017 was a once in a lifetime year! 

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