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Crypto currency (IF banned from CA)

Wizard said:
Sorry but how has it been a great call? It’s still some way off 10k and he’s been calling it for ages.
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Thank you @evilwebby

I call for an 85-90% drop when the space was still very bullish. I get laughed at a lot.

Price drops 80% and shows no sign of stopping soon, still get laughed at for making a rubbish call.

Just think, if anyone listened they could have sold the top...
 
DuuuncanHadaPigeon said:
Thank you @evilwebby

I call for an 85-90% drop when the space was still very bullish. I get laughed at a lot.

Price drops 80% and shows no sign of stopping soon, still get laughed at for making a rubbish call.

Just think, if anyone listened they could have sold the top...
Click to expand...
Did you sell the top when Hex dropped 90%? Pretty sure you carried on encouraging people to buy as it fell
 

Wizard said:
Sorry but how has it been a great call? It’s still some way off 10k and he’s been calling it for ages.
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Sure, it's still 30% away, but when you look at the prices from peak:


a fall from 70k to 16k is a -73% move
a fall from 70k to 10k is a -86% move

The more extreme the move the higher degree of leeway you have to give. Something that falls by -99% isn't a further -1% move from -98%, it's another -50% down.


I mean, if you say the stock market is gonn crash by half, and it turns out the bottom is in at -40% then you are not substantially wrong.


BTW I hav always maintaned that that - at some point - BTC will be essentially worthless.
 
evilwebby said:
Sure, it's still 30% away, but when you look at the prices from peak:


a fall from 70k to 16k is a -73% move
a fall from 70k to 10k is a -86% move

The more extreme the move the higher degree of leeway you have to give. Something that falls by -99% isn't a further -1% move from -98%, it's another -50% down.


I mean, if you say the stock market is gonn crash by half, and it turns out the bottom is in at -40% then you are not substantially wrong.


BTW I hav always maintaned that that - at some point - BTC will be essentially worthless.
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Dont tell nikom
 

Also, don't forget that inflation turns that -73% fall to more like a 78-80% fall in real terms. Of course this is true for all assets and investments - you should always be thinking in real terms.
 
evilwebby said:
Also, don't forget that inflation turns that -73% fall to more like a 78-80% fall in real terms. Of course this is true for all assets and investments - you should always be thinking in real terms.
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good point.

One thing that suggested BTC was at top was the GBTC premium, I said this many many times, when it went negative why would anyone buy spot when they could buy at a discount. Hit an all time low of -45% the other day, BTC will continue to dump until this goes positive again or the fund behind it go bust

1669140245487.png
 

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