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

[Mayday]

Snap getting raped after hours.  FB and Goog getting hit as well.

Everyone gunna get hit with the axe.

US Money Supply is flat 5 months into this year. Pretty amazing it’s holding up which suggests liquidity is still here but being parked outside of markets.

UK PMI got released and was 15% under the forecast. It went 59 then 58 then 51, fucking wrecking ball. The key level is 48, below that it’s straight to Hades.


Just like inflation was under forecasted, deflation will also be under forecasted and the speed under estimated. US futures already red but still, we haven’t seen a break below the lows. We need to seep that sell off.

[El Diablo Blanco]

Has Bitcoin hit $5k yet? This thread title might hold true in the near future.

[Mayday]

Finally alts starting to bleed with ETH leading the charge.

Broken below the previous low so range bottom is 0.05 which is approx 1,650.

[El Diablo Blanco]

Without $5 trillion is free government cash, how will crypto go back up to the pandemic peaks?

Answer: it won’t ever until free cash is sent out to the masses again.

[GymnJuice]

Without $5 trillion is free government cash, how will crypto go back up to the pandemic peaks?

Answer: it won’t ever until free cash is sent out to the masses again.

Do you think if there is rampant inflation more people might look into it as an alternative method of payments for day to day things? I don't use it but I could see that happening.

[Thin Lizzy]

Perhaps at some point in the future but currently it’s way too volatile.

[El Diablo Blanco]

Do you think if there is rampant inflation more people might look into it as an alternative method of payments for day to day things? I don't use it but I could see that happening.

Nope. Not at this rate.  Spending is going to go down big time as rates continue going up.  It’s a shift in balance. 

[deadz]

This thread is hilarious. Wannabes, losers and dreamers thinking bitcoin, bitcoin, bitcoin. LOL!!

[Thin Lizzy]

This thread is hilarious. Wannabes, losers and dreamers thinking bitcoin, bitcoin, bitcoin. LOL!!

Some of us saw the scam:

Wall Street has always been a casino. Speculative schemes have been going on  before our grandparents were born.

You might be right but it smells like a pump and dump to me. My GUESS is that it eventually crashes AGAIN, goes back into the doldrums, and we don’t hear from the bitcoin bugs for a while.

[Mayday]

Without $5 trillion is free government cash, how will crypto go back up to the pandemic peaks?

Answer: it won’t ever until free cash is sent out to the masses again.

Yes.

My strategy factored this deflationary to reset CPI before the Fed can go again.

Recession in Q2. Plebs get crushed in Q3, Stimmy bucks in Q4 and we go again in 2023 for the next inflationary wave is my plan.

Ive been good on the economic side but have got the market sell off timing wrong. hence the saying markets can remain irrational longer than you can remain solvent.

Anyhoo, I’m just waiting for the bottom.

[Mayday]

BTC the bottom has to look different just like the top did.

When we came down to 38k from 48k everyone said we would rally. It then went 36k, we will rally, 34k we will rally, 32k we will rally, 30k we will rally, 28k-29k the bottom is in and we will rally……

Now imagine 25k, we will rally, 23k, 21k, 19k, the bottom is in, 17k ummmm, 15k oooooo fffffuark…..

A slow bleed of stepping down allows good distribution and giving people ‘hope’ allows people to stay in longer and ‘buy the dip’ only to sell later when it keeps dipping.

[Thin Lizzy]

Here’s where I see the eventually bottom for Ether:

[FitnessFrenzy]

lizzy, i would argue the bottom is higher

[Thin Lizzy]

lizzy, i would argue the bottom is higher

You might be right but when you reach the latter part of a pump and dump the circus has packed up and moved to another town and all that’s left are the suckers holding the bag and little by little they sell as the price moves lower.

Look at the Bitcoin ETF, a dog from the word go:

[Mayday]

You might be right but when you reach the latter part of a pump and dump the circus has packed up and moved to another town and all that’s left are the suckers holding the bag and little by little they sell as the price moves lower.

Look at the Bitcoin ETF, a dog from the word go:

Bear market rally on stocks is nice. My feed was instantly bullish, bottom is in blah blah. People gunna get rugged hard on this one as Fed has not done a pivot yet. Rate rises and recession all still yet to play out, this rally is miles to early.

Pissing in the wind S&P to tag 4260, deviation to 4300 perhaps and then nuke down to 3600. What say you?

Crypto price point is using ETHBTC. It will break below 0.05 and head to 0.03 or so for next level. If that’s at 20k then ETH price is $600.

If BTC gets to 15k then the ratio might be 0.02 which is $300 but that’s being a crazy worst case scenario.

For Now I gather BTC will rallly like the S&P did and head towards 38k then gets nuked hard.

[Thin Lizzy]

One of the stocks Bloomberg cited as a “Notable Mover” was Rivian.

[Thin Lizzy]

Looks impressive until you pan out a bit:

[Mayday]

Looking at BTC dominance and the structure behaviour still hasn’t changed it’s ways. We had a good thing going on with alts bleeding out but now we have degenerates going long 100x on alts in preparation for a Monday rally……. Dominance drops from 47% to 46%.

Dominance is an oscillating trend. Starting 70%+. Drop to Low 39%. Rise to Peak 47%.

From the first bottom BTC got back to 47% then price rose 20% more while alts blasted upwards bringing the dominance back down to 39% low.

From the second bottom BTC got back to 47% (near enough) but price had peaked while alts blasted upwards bringing the dominance back down to 39% low.

This is the 3rd wave with BTC at 47% dominance…… meaning we are already at the peak of the wave and alts would like to move up. BUT we face the conundrum of the 2nd wave indicating that the last time the wave had peaked, BTC was already at peak price…….

[Mayday]

Reversal printing on BTC.

My feed is full of spastics calling for ATH.

I see 38k at the top. I’m not taking any positions, I’m just waiting for the bottom.

The bear market rally in shares is based on front running the Fed which always ends in tears therefore price goes lower than today.

[Mayday]

BTC 27.5k and ETHBTC lost support and working towards lows.

BTC to tap 25.5k. ETH and alts in a bloodbath right now.

I’m still patiently waiting for the bottom, it isn’t in yet.

[El Diablo Blanco]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money. 

[GymnJuice]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money.

Essentially they bought votes through pandering, special interests etc. The average Joe loses.

[Thin Lizzy]

Face it the circus is packing up and moving to another town. Better off working the short side at this point:

[Thin Lizzy]

It will be interesting to see how low Tesla eventually goes. I’ve never seen a stock with this big of a market cap that’s so manipulated.

I’d bet it goes down to least 300 probably lower.

[Mayday]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money.

The story goes, someone had a few mill in Luna then sold into UST and staked it. UST now 0.03 and the person has a massive tax bill outstanding from the LUNA sale which they can’t pay because their stable coin lost 97%.

When I did my sale For last tax year I kept the money aside in my bank account. So many get wrecked not doing this.