Bitcoin Has Longest Losing Streak Since August in Bruising Week

jqpabc123

I like to tell people I have an imaginary dog. It fits my needs perfectly except for one critical issue --- it won't clean up food dropped on the floor. Bitcoin is imaginary money. It works perfectly except for one critical issue --- it's not very good for purchasing stuff. Bitcoin has about the same value as my imaginary dog.

erelong

"Good time to buy"

mgh2

Quantum fears: https://news.ycombinator.com/item?id=48375692

Overpower0416

People will FUD. After the cycle is over, Bitcoin will make new ATH and the people who bought the dip will be called lucky. Same old tale

tim-projects

Bitcoin has gone through a number of narratives. A big one was the it was digital gold. Then, gold went up like crazy and bitcoin stagnated and people lost interest. It's still a store of value.. I guess?

NDlurker

I've been buying the dip all week

j2kun

Bitcoin price stories should no longer be considered on topic for HN.

defmetrix

My own personal opinion is that the hype around bitcoin is not coming back. I dont think its going to zero, but too many people have just moved on.

scotty79

We are in the middle of every 4 year hole at the moment. Heights and lows are unpredictable but the timing is still solid.

chewbacha

Crypto investors are migrated to the newest unregulated speculative asset: the stock market. I don’t know for certain but the amount of retail investing on vibes around AI companies and metals feels just like the crypto peaks. Just the other day Marvell jumped on the words of Jensen Huang and metal ETFs randomly lost tons of investment earlier this year. Without a lot of the guardrails of the US regulatory apparatus that has been gutted by the current administration, the market is riff with manipulation. Truly another gilded age.

ascendantlogic

Bitcoin (and crypto at large) goes through these 4 year cycles repeatedly. Each time people claim its dead, "this time is different", etc etc. It peaked at the end of 2024 and now we're in mid 2026...traditionally near the bottom of the cycle. There IS someone in the White House now that seems hellbent on driving the global economy into the ground but until there's definitive evidence that this time really is different, I'm going to assume it's business as usual and people screaming about how its over is just the buy indicator it's been many times in the past.

ecshafer

Bitcoin doesn't really have any coherent reasoning behind it, that I can tell. Other investments I can have a theory (which may be wrong) and see it work. I can buy gold/silver to hedge weaker currency. I can believe a stock is going up (or the market in general). I can buy bonds. I can do Forex or Commodities based on whatever feeling if I really want to lose money. But Bitcoin doesn't really seem to correlate with anything.

seemaze

I just finished the recently published The Alighty Dollar by Brendan Greeley [0]. It is a great story of the evolution of currency in general and the dollar specifically. It wraps up with a brief critique of crypto in general that I found interesting. [0] https://www.penguinrandomhouse.com/books/634502/the-almighty...

xnx

Looks like BTC might still be overvalued by $63,825.96

stephc_int13

Here is a prediction about Bitcoin: there will be a financial crash at some point in the future, maybe it will be the AI bubble, maybe because of oil, shortages, something entirely unforeseen or some combination of those things, but if there is something to know about cycles is that crashes happens. And because Bitcoin is now old enough that most people understand what it is, the hype has vanished, it won't survive the global fear or losing it all.