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

[Mayday]

Do you see any pullback from this recent rally?

Overall, it's looking good but I'm still cautious.

I'm not holding at the moment, more swing trading. Took some profits recently now waiting for another entry point, specifically if ETH breaks the downward sloping resistance line of about 4416-4420.

47k-53k friend zone IMO. What I posted earlier also backs up the bottom is likely in which was that 42k and a 48k close. I have 42k as a marker but i don’t think we close anywhere near there because that was the bottom of the Sept dump and per my post, I believe we are still in the uptrend therefore we won’t close near previous lows.

I tend to look at dates rather than the number itself and I think I said before 15th December could be the rally point.
*2020 December god candle rally happened from the 15th December onwards
*Options expiration on the 17th December
*End of year tax means big players take profits prior to options expiration
*BTC futures pattern of 6 on 4 off also supports a rally can begin from the back half of December
*weekly RSI will show a bottoming out by end of next week (mid December)

I bought more this week.

I think people looking for downside are going to miss how quickly the upside can come.

Back in December 2020 we double in price in 2 weeks……. Hence my 93k marker so keep an eye on that

[Flexacon]

Bitcoin shakeout continues.

Big things soon hopefully for those of us involved in Matic. If coinbase NFT partnership rumours are true it could go parabolic.

[Griffith]

BTC needs to close above 53k by end of week to keep bullish trend intact.

If not, possible dip from 42k to 47k.

[El Diablo Blanco]

Serious question.  Who here has made millions in the crypto game. I mean actually cashed out millions?  These coins like LUNA, FLOKIE, SHIBA all up like 10000%.  How much fucking money are people making on this shit and actually walking away?

[OneMoreRep]

Don't know how many of you had a chance to catch today's 4.5hr testimony held in front of the House Financial Services committee by the top Crypto CEOs, but it showed tremendous promise. It's not a matter of if, but when full adoption of cryptocurrency will take place. Honorable mention needs to go to Stellar Lumens (XLM). Their CEO (Dixon) was pretty impressive and sold the fuck out of their company/coin. It seems there are many fans of XLM in congress given the ability of remittances to be simplified.

"1"

[Flexacon]

Serious question.  Who here has made millions in the crypto game. I mean actually cashed out millions?  These coins like LUNA, FLOKIE, SHIBA all up like 10000%.  How much fucking money are people making on this shit and actually walking away?

Very few people got rich off of the coins you mentioned.

Millionaires who walked away were mostly guys who got in early with bitcoin.

If someone was doing well in crypto space right now then the worst thing they could possibly do identity themselves. It makes them a target.

The longer you spend in the space, the more you understand it and the better you get at avoiding pitfalls. Why walk away?

[jude2]

Serious question.  Who here has made millions in the crypto game. I mean actually cashed out millions?  These coins like LUNA, FLOKIE, SHIBA all up like 10000%.  How much fucking money are people making on this shit and actually walking away?

Time we find out about those coins, it is too late.

[Griffith]

BTC barely holding on to 48k support.

ETH rejected at 4400.

[El Diablo Blanco]

Time we find out about those coins, it is too late.

seems a lot coming out of South Korea as well.

[Flexacon]

BTC barely holding on to 48k support.

ETH rejected at 4400.

Omicron, Evergrande, Inflation and even an asteroid impact looming and ETH is only a few daily green candles away from it's ATH. Perspective is important here.

Maybe I'm chill cos I'm strong green in my portfolio, but everything I've seen makes me think we still have at least one big run up left

[Griffith]

Omicron, Evergrande, Inflation and even an asteroid impact looming and ETH is only a few daily green candles away from it's ATH. Perspective is important here.

Maybe I'm chill cos I'm strong green in my portfolio, but everything I've seen makes me think we still have at least one big run up left

One big run up left, but I think we could still see another dip lower.

[Griffith]

Thoughts on market and US CPI report today?

BTC currently at 48.3k.

[Mayday]

Thoughts on market and US CPI report today?

BTC currently at 48.3k.

CPI will go higher.

BTC still crabbing in my 47k-53k range. I’m still waiting for next weekend so no change from me. I’m confident BTC moves up in the back half of the month because seasonality wants it to do it.

[FitnessFrenzy]

What is special or interesting about Solana?

[SOMEPARTS]

Thoughts on market and US CPI report today?

BTC currently at 48.3k.

Thoughts? It's terrible. Highest since 1982. No action being taken to stop it either. Prime rate should be like 6% at least... Then you would see the real economy....it was what 16% in 1982?

Then again it's either this or pay 1 trillion + per year in debt service.

[Griffith]

Thoughts? It's terrible. Highest since 1982. No action being taken to stop it either. Prime rate should be like 6% at least... Then you would see the real economy....it was what 16% in 1982?

Then again it's either this or pay 1 trillion + per year in debt service.

That's surprisingly high, long-term good for crypto at least.

That's one of the main allures of crypto in developing countries, to hedge against local currency devaluation and inflation.

Turkey, Zimbabwe, Venezuala, etc. I think many of them rely on cryto to preserve the value of their cash, even if in stablecoins.

[Flexacon]

What is special or interesting about Solana?

It's fast and very cheap. Everything Ethereum isn't.

However it doesn't appear to be decentralized.

[Griffith]

It's fast and very cheap. Everything Ethereum isn't.

However it doesn't appear to be decentralized.

ETH 2.0 will correct those issues though, and everything seems to be on track.

[OneMoreRep]

What is special or interesting about Solana?

Not sure about what is interesting about it. What I can tell you is that a lot of institutional money flows in and out of it. Unfortunately, it is too centralized for my liking:



Additionally, its network has been down twice now. Hard to have confidence in a project that can simply be "down" at any point.

I bought in at $10 and sold at $220. I am now mostly investing into cryptos that are ideal for integration with banks and countries, as well as cryptos that show promise towards development of the metaverse.

"1"

[Army of One]

What is special or interesting about Solana?

nothing really, its just the fact its backed by FTX, which is now as large as binance, that gave it its run.

[Flexacon]

ETH 2.0 will correct those issues though, and everything seems to be on track.

ETH 2.0 will do many things. Greener, more secure, more scalable, but it wont correct the issues with speed and fees. Scalability will temporarily mean faster transactions and cheaper gas, but it will pretty quickly grind to a crawl and fees will climb again.

Layer 2 solutions (ZKrollups) are what will provide fast and cheap transactions. They are already here and endorsed by Vitalik. ETH developers are already working on ways to best make use of them. All that awaits now is adoption.

[Mayday]

Double bottom close. Bottom bottom on fear.

Line drawn on inflow to outflow cycle on BTC futures.

Market sentiment is in the gutter. Everyone convinced it’s all over.

I’m still watching from the 17th December to see if we get an uptick.

[Griffith]

https://www.cnbc.com/2021/12/10/fed-is-expected-to-speed-up-end-of-bond-buying-and-signal-interest-rate-hikes-are-coming.html

Fed is expected to speed up end of bond buying and signal interest rate hikes are coming

The economy is growing strongly and inflation pressures continue to build. The Fed is alive to the risks and is set to announce that the QE program will end in February. This then paves the way for earlier and swifter interest rate hikes, Omicron permitting, with the Fed dot plot set to point to a minimum of two moves in 2022

[Mayday]

https://www.cnbc.com/2021/12/10/fed-is-expected-to-speed-up-end-of-bond-buying-and-signal-interest-rate-hikes-are-coming.html

Fed is expected to speed up end of bond buying and signal interest rate hikes are coming

The economy is growing strongly and inflation pressures continue to build. The Fed is alive to the risks and is set to announce that the QE program will end in February. This then paves the way for earlier and swifter interest rate hikes, Omicron permitting, with the Fed dot plot set to point to a minimum of two moves in 2022

I’ll add to this as pondering last night, is it the stimmy money big players are waiting for and we can’t get that until we have a deflationary event.

Cliffs:
Stimmy money drove the retail FOMO from Dec-May
No retail FOMO this month and no stimmy money
Institutions are entering Jan-Feb
CPI entering levels where a rate hike is imminent. 6.8% today is 15% in 1970s which is the highest ever.
Rate hike by June 2022 is expected meaning prior to this, no stimmy money
June Rate hike causes deflationary sell off, economy turns to shit, stimmy money approved and we then have retail funded to the tits to enter stocks and crypto —> estimate December 2022-March 2023


Retail FOMO runs require retail to have cash to chuck at stocks and crypto.

April 2020 was the first stimmy money

December 2020 was the second stimmy money and we saw a 2 week stint where price doubled and people aped in hard with stimmy.

March 2021 was the third stimmy money and we saw the peak followed by April/May attempts….. no more stimmy money came and big players nuked the market.


Everyone expected retail FOMO this month. We have no stimmy money. Bitcoin maxis have tried to pump and all we saw was a 1.8B in 1 hour nuke of existing traders, not retail. We can’t see retail entering at all right now and all we see is big players and funds looking to enter in Jan-Feb when the calendar year begins but they won’t FOMO, they will crab the fuck out of the market.

[OneMoreRep]

Any of you crypto wizards care to chime in on the probable future of $XRP???

Will it come out prosperous from the SEC lawsuit? If so, what price range do you see for $XRP?

Will it lose the SEC lawsuit? If so, what happens to Ripple and $XRP price?

Will it end up nowhere and most result with a slap to the wrist???

Will it result with industry-wide crypto regulations, but beneficial to $XRP given that they will walk away best prepped for regulatory practices?

"1"