Bitcoins - about to hit $5,000 per coin today!

[Bindare_Dundat]

We went a bit higher then my anticipated target but reassured this baby is heading down. Anticipate a rally around the 44k range where ill be longing. After that we will head down lower. Imo.

[Jakobslander]

Folks, another indicator of how things are going to go is the GBTC discount. It's been hovering around -15% for a while and it doesn't look like it's going to let up any time soon.

Grayscale, the parent company, was a constant buyer of BTC and is now a constant seller of BTC.

IMHO, once the discount becomes a premium or an American ETF comes out, watch out.

GBTC, if BTC does go to 15k, will go into the low single digits (possibly pennies if accompanied by a Black Swan event) and present the opportunity of a lifetime because the premium is going to go through the roof.

[Jakobslander]

We went a bit higher then my anticipated target but reassured this baby is heading down. Anticipate a rally around the 44k range where ill be longing. After that we will head down lower. Imo.

There's going to be a rally into the 50k range again to trap the "return to normal" crowd (the worst FOMOs) and then they will drop it like a stone.

[Jakobslander]

The DXY is the driver of this whole thing now.

If it spikes again like in March of 2020, better be in cash, because the deflationary shock will crash everything.

[Mayday]

GBTC doesn't indicate a timeframe because it can be positive for long periods and negative for long periods.

The same as margin funding rates are not necessarily indicative because price can rally while rates remain negative so you believe it's bearish yet price goes up 40%.

Last pullback every man and his dog said 36k and we barely pulled back 5% then rallied to a new high. Just yesterday, again people said it's going to go to 40k then mid 30s and what happens? Tapped 46.6k turned around and is going back up.

The long derivatives charts i have been posting for many weeks tells you what the big money is doing. They are in a controlled exit which requires price to continue rallying while they dollar cost out. The problem is not even that is an actual outcome indicator because in 2020 we saw the exact same thing and we rallied straight into the new year.....

Financial markets are gunna take a bath in September and crypto leverage is going to be the trigger of the deflationary event. The rally out will be biblical.

[OneMoreRep]

Anyone know what the fuck is going on with Solana?

I've always held a few coins (about 10 or so just out of curiosity) and its behavior as of recent doesn't make much sense to me. Anyone following it or know what's going on? MANY traders have always feared that the people behind Solana have made it into a pump and dump scheme, but I am not too well versed on that.

Thoughts?

"1"

[Mayday]

Anyone know what the fuck is going on with Solana?

I've always held a few coins (about 10 or so just out of curiosity) and its behavior as of recent doesn't make much sense to me. Anyone following it or know what's going on? MANY traders have always feared that the people behind Solana have made it into a pump and dump scheme, but I am not too well versed on that.

Thoughts?

"1"

It’s related to NFTs because they launched on The SOL network. Sure it’s mostly ETH based but stuff has started being released on SOL aswell.

I think it’s more lower cap coins having a big rally because BTC chilled out for a couple of weeks. SOL was dirt cheap so it’s rallying and now we have FOMO.

I was in DOT more than SOL because I thought DOT was way overdue for a rally and it hasn’t done jack. Today SOL is equal with DOT which is very interesting and it could be argued DOT doing sweet fuck all and even backwards is because of people jumping ship and into SOL.

We saw ADA do similar things and it has surged to a 92B market cap (SOL is 28B) and ETH is 400B. People learning quickly now which is why the speeds are getting quicker.

[Jakobslander]

HEX is literally going through the roof. Turns out “bitch tits” (Richard Heart) wasn’t that crazy.

At this pace, $1 by EOY and $10 by June of 2022.

Cryptos are insane.

[Mayday]

HEX is literally going through the roof. Turns out “bitch tits” (Richard Heart) wasn’t that crazy.

At this pace, $1 by EOY and $10 by June of 2022.

Cryptos are insane.

I like the HEX framework. It's a copy of BTC but with actual strong monetary incentives to HoDL unlike BTC.

38B Market Cap and 0.067B 24hr volume backs that up. It isn't on exchanges so it's not going to be leveraged and traded.

$0.21 @ 38B
$1 @ 180B 4.7x  --> plausible in next 2yrs?
$10 @ 1.8T 47x  --> plausible in next 4yrs?

[FitnessFrenzy]

The DXY is the driver of this whole thing now.

If it spikes again like in March of 2020, better be in cash, because the deflationary shock will crash everything.

Please elaborate. What is DXY and what are you trying to say?

[obsidian]

HEX is literally going through the roof. Turns out “bitch tits” (Richard Heart) wasn’t that crazy.

At this pace, $1 by EOY and $10 by June of 2022.

Cryptos are insane.

That would give it a market cap of 2.6 trillion dollars. I don't see that happening. It runs on Ethereum. Where would Ethereum be in that fairytale world? There's a big Hex circulating supply. 6 times more than Doge. Doge is actually 6 times scarcer than Hex.

[FitnessFrenzy]

HEX is literally going through the roof. Turns out “bitch tits” (Richard Heart) wasn’t that crazy.

At this pace, $1 by EOY and $10 by June of 2022.

Cryptos are insane.

When you stake HEX, how is the hex created that is paid out as interest? I guess it is created out of thin air?
The HEX website (official site) is beyond shitty in terms of how hex works and operates.

[Jakobslander]

When you stake HEX, how is the hex created that is paid out as interest? I guess it is created out of thin air?
The HEX website (official site) is beyond shitty in terms of how hex works and operates.

Funny thing is that, when you open a CD with a bank, you never ask the bank “hey, where do you get the money that you pay me in interest?”

This is the horse shit logic that is applied to cryptos all the time.

In HEX, the inflation gets allocated to the stakers, as well as the penalties. In BTC, the inflation gets allocated to the miners, who then turn around and drop the coins in the market, pushing the price down (vicious circle, ain’t it?)

[Jakobslander]

That would give it a market cap of 2.6 trillion dollars. I don't see that happening. It runs on Ethereum. Where would Ethereum be in that fairytale world? There's a big Hex circulating supply. 6 times more than Doge. Doge is actually 6 times scarcer than Hex.

Do you trade on market cap?

[FitnessFrenzy]

Funny thing is that, when you open a CD with a bank, you never ask the bank “hey, where do you get the money that you pay me in interest?”

This is the horse shit logic that is applied to cryptos all the time.

In HEX, the inflation gets allocated to the stakers, as well as the penalties. In BTC, the inflation gets allocated to the miners, who then turn around and drop the coins in the market, pushing the price down (vicious circle, ain’t it?)

Alright. I was just curious how it worked.

[FitnessFrenzy]

[FitnessFrenzy]

[OneMoreRep]

I think Richard Heart can be entertaining when in a group setting. I think his technical analysis (when he does showcase) is very strong.

What I don't care for is the flaunting. That has asshole written all over it. The truly rich (as in old money) don't flaunt as much. Young money typically does. Great for him in building something great, but less flaunting would probably get him more fanfare.

Also, I don't know too much about his operations, but I do remember reading somewhere that for quite some time, many saw HEX as a ponzi scheme. Not sure if at all true and doubt it by this point, but worth looking into.

"1"

[Mayday]

I think Richard Heart can be entertaining when in a group setting. I think his technical analysis (when he does showcase) is very strong.

What I don't care for is the flaunting. That has asshole written all over it. The truly rich (as in old money) don't flaunt as much. Young money typically does. Great for him in building something great, but less flaunting would probably get him more fanfare.

Also, I don't know too much about his operations, but I do remember reading somewhere that for quite some time, many saw HEX as a ponzi scheme. Not sure if at all true and doubt it by this point, but worth looking into.

"1"

His flaunting isn't like typical influencers with shocked faces "OMG i spent 1M on watches in under 30 seconds". It's a general very non-event 'oh hey here is some crazy expensive shit you can blow money on'. To me it's almost like a gigantic piss take where he tries to find the most obscene uselsss shit and buy it. That's my take anyway and i don't mind it.

Everything is a ponzi scheme because first in encourages more to buy in and then first in sell out and last in are the bag holders.  HEX is the ultimate ponzi because it's too good to sell out and end result is a mammoth sized valuation due to HoDL rules.

People bagged it out out of cult mentality but Richard designed it in a way where it's protected from leverage, bots and day trading then provided rules to encourage people to hold it long term and only take out small slices at a time. It's a brilliant design and in September i plan to hold some HEX for a very long term outlook just to see what happens.

I have mentioned participation depth in crypto building price floors (ie bear markets and bull markets are a necessity to engage more people over time) and HEX essentially will build a price floor 10x faster than everything else due to it's structure. It is this that freaks people out thinking it's a scam. It's not a scam, it's how a perfectly structured ponzi looks.

[Mayday]

September is nearly here.

My opinion is that we will have an identical 2013 run giving us a peak to either 88k or 115k before year end. The reason for 2 targets is because of the rule of 100s where numbers will either fall short or if they go over, they go reasonably over. We cannot know which we will get until it's time.

September will look like shit. October will also look like shit. We will have a black swan event on the 22nd-23rd September which will trigger a cascade of selloffs.

Contagion from Crypto into broader sharemarkets is going to cause pain and everybody is going to think we are ruined.

All of us on here are going to be screaming it's the end of the USD and global economy, this is THE big event of collapse.......

Debt ceiling raise will be approved. 3.5T of Stimmy will be approved and it will magically go away before the end of October.

November and into December crypto will be utterly spastic and out of control. What prices drop to is irrelevant because you simply buy at whatever price.

[FitnessFrenzy]

[OneMoreRep]

My opinion is that we will have an identical 2013 run giving us a peak to either 88k or 115k before year end. The reason for 2 targets is because of the rule of 100s where numbers will either fall short or if they go over, they go reasonably over. We cannot know which we will get until it's time.

Hmm, so Bitcoin will likely increase 2-3x fold by your estimates and I'm sure alts would certainly follow with some particular alts hitting unexpected highs (much like Solana).

We will have a black swan event on the 22nd-23rd September which will trigger a cascade of selloffs.

You can't just casually drop this idea without adding strong substantiating arguments as to why. You need to expand on this, give us your craziest predictions and explain why you see it coming.

Contagion from Crypto into broader sharemarkets is going to cause pain and everybody is going to think we are ruined.

Everybody is going to think we will be ruined? Why? What do you mean regarding a supposed contagion surrounding crypto?

All of us on here are going to be screaming it's the end of the USD and global economy, this is THE big event of collapse.......

Again, you need to expand on this idea. Don't want to assume anything, but it sounds a bit crazy. Then again, after this last year, NOTHING will surprise me.

Debt ceiling raise will be approved. 3.5T of Stimmy will be approved and it will magically go away before the end of October.

I can 100% see this happening. They are already flirting with this.

November and into December crypto will be utterly spastic and out of control. What prices drop to is irrelevant because you simply buy at whatever price.

I foresee a probable crypto winter coming, although I can't trace it by technical analysis in a way that suggests that November/December will be the time it hits. If it does, I am aggressively stacking BTC, ETH, Cardano (Will likely go hardest into $ADA), Polkadot and Chainlink. As a hedge against US market activity, will also likely double down on the cheap VeChain.

"1"

[robcguns]

Hideous Rolex.

[FitnessFrenzy]

Hideous Rolex.

agreed

[SexyCustomSynthesis250]

Do you trade on market cap?

Totally agree, market cap is for idiots
LOL newbcoiner assclown