Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says

[+Mirumir Subscriber¹]

 

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Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says

 

The tumble in cryptocurrencies that erased nearly $500 billion of market value over the past month could get a lot worse, according to Goldman Sachs Group Inc.’s global head of investment research.

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Today’s digital coins lack long-term staying power because of slow transaction times, security challenges and high maintenance costs, according to Strongin. He said the introduction of regulated Bitcoin futures hasn’t addressed those concerns and he dismissed the idea of a first-mover advantage -- noting that few of Internet bubble’s high fliers survived after the late 1990s.

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Strongin was more upbeat about the blockchain technology that underlies digital currencies, saying it could help improve financial ledgers. But even there he sounded a note of caution, arguing that current technology doesn’t yet offer the speed required for market transactions.

 

 

@ $6,000 BTCUSD appears to have a strong line of support. If it breaks it, it will dive to $3,500.

[FloatingFatMan]

Here's hoping it dives to zero and people give up on this crap. I'm getting fed up with GPU prices spiking because of this rubbish.

 

[wakjak]

9 hours ago, FloatingFatMan said:

Here's hoping it dives to zero and people give up on this crap. I'm getting fed up with GPU prices spiking because of this rubbish.

 

I paid $599 CAD last year for my GTX 1070... right now the cheapest one is $899 CAD... I am so glad I bought when I did lol...

[+Mirumir Subscriber¹]

A co-founder of Ethereum:

 

Also,

 

As Bitcoin Nears $11,000, Here's A History Of Its Biggest Ups And Downs

Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos

Here's Why Banks Hate Cryptocurrencies

 

BTCUSD was trading @ $11,200 last time I checked. Let's see if it breaks the $12,000 mark.

[+Eternal Tempest MVC]

This is the reason why I'm holding off on PC upgrading... that and waiting for Meltdown and/or Spectre free cpu's this year / next year. 

[+Mirumir Subscriber¹]

On 2/19/2018 at 7:32 PM, Mirumir said:

BTCUSD was trading @ $11,200 last time I checked. Let's see if it breaks the $12,000 mark.

It couldn't break thru $12,000 mark in the last couple of days which means this level has now become its ceiling in the short to medium term.

 

BTCUSD is now trading inside "a corridor."

 

Short it @ $11,500ish or open a long position @ ~$7000.

[+Mirumir Subscriber¹]

 

 

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Bitcoin Drops Back Below $10k

[+Mirumir Subscriber¹]

 

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Bitcoin Slides As Coinbase Informs 13,000 Customers Of Imminent Data Handover To IRS

 

Having neared $12,000 last week, Bitcoin prices have dipped back into the red for February, accelerating below $10,000 this weekend as news that the US' largest cryto-exchange, Coinbase, will be turning over 13,000 customers' information to The IRS

 

 

[+Mirumir Subscriber¹]

On 2/22/2018 at 12:22 AM, Mirumir said:

Short it @ $11,500ish 

 

Just as I had predicted it before: BTCUSD hit the $11,500 ceiling and plummeted.