Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 1114289 times)

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4075 on: January 06, 2021, 09:19:11 AM »
$ 35,556.20

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4076 on: January 06, 2021, 11:35:56 AM »
It's Monopoly money.

Yeah monopoly money. Lol

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4077 on: January 06, 2021, 01:19:04 PM »
$ 36,301.61

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4078 on: January 06, 2021, 04:46:43 PM »
This. There's an interesting interview with Craig Wright, who is rumored to be (part of) Satoshi (the Bitcoin creator). When he's asked that he's technically a billionaire because of his assets in BTC he says that this number is just theoretically because he alone is holding such a large amount of total BTC that if he decided to sell it off the price would immediately crush to 50 % or so :D

Basically, the run could be over in the blink of an eye, the only question is if you're among the lucky guys who were selling beforehand or not (and this has nothing to do with knowledge or skills, but purely with luck lol; there are others deciding whether the BTC is going to crash or not, not you ;)).


Well-known Australian scammer and fraudster who claims to be Satoshi (but has never provided a shred of proof) and lives like a pauper despite his alleged "wealth".

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4079 on: January 06, 2021, 04:49:46 PM »
Lets look back at another of Mr A's nuggets of wisdom he shared with us back in the day...

Quote from: Mr Anabolic on November 10, 2017, 04:10:43 AM (Bitcoin price @ $6570)

You are fantasizing.

As I mentioned earlier in this thread... when the avalanche of sell orders come in and everyone is looking for an exit at the same time... they not be able to sell and most will get their faces ripped off.   You'll be saying to yourself: "Why the fuck didn't I sell at $7800?"


Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4080 on: January 06, 2021, 05:14:16 PM »
Lets look back at another of Mr A's nuggets of wisdom he shared with us back in the day...

You know when it crashes next week he will come in here and rip into you yeah?  lol

His prediction for this next crash was a price bottom $3,000. He posted that a few pages back.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4081 on: January 06, 2021, 06:30:25 PM »

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4082 on: January 06, 2021, 06:53:06 PM »
You know when it crashes next week he will come in here and rip into you yeah?  lol

His prediction for this next crash was a price bottom $3,000. He posted that a few pages back.

Yes, he is confused between volatility and a long term trend. (This is indeed why I typically use a 30 day moving average for BTC as opposed to referencing the latest high by the second when I respond to him with latest price).

If we believe BTC will achieve parity (or eventually surpass) gold in market cap, and in effect become the global reserve currency, the road upwards will of course be volatile. One would expect the same trend in the emergence of globally dominant stocks (indeed we saw this in all of the FANGS on their journey to date).

So yes, Mr A will come back with some nonsense such as "see I told you, its crashing!" if we see BTC fall 10-20% from its current levels. What he will fail to mention is that even a fall back to $30,000 would put BTC still 10,000 % HIGHER then when he first claimed BTC was a bubble at the $300 level.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4083 on: January 06, 2021, 06:53:26 PM »

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4084 on: January 07, 2021, 05:01:16 AM »
Total crypto market cap:  $ 1.029.131.094.338

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4085 on: January 07, 2021, 06:05:19 AM »
What we are (quite possibly witnessing) is the actual birth of a brand new global currency. Its something we have never really seen before. Gold served this function to some extent, but the development of this new currency in the internet/digital era makes this potentially so much more powerful. The next decade could be mind-blowingly amazing for BTC, and indeed could change and revolutionize the entire way we look at money, finance, store of value, transfer of value, and beyond that the structure of society. BTC is quantitative tightening, in a world of quantitative easing. BTC is a global bank account in the hands of every person who has a phone.

I can only say again and again. If certain factors play out, 1-coiners (the people who have a whole Bitcoin to their name), will be an a truly elite class of wealth, who have vast financial power (and associated privileges) above all others. If all pans out over the next decade, the price of BTC now will be a blip compared to what it is in the future. Imagine being an early investor in Apple or Google or Amazon. Right now, we are really just in "series A" financing - ie the level after the initial VCs have invested, with many more phases of growth ahead.


epic is back

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4086 on: January 07, 2021, 06:44:06 AM »
That's right.  That $1500 will turn his house into a castle.

he is quite comical isnt he

house with wheels


zooooooomm!!

DooM_

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4087 on: January 07, 2021, 06:54:50 AM »
'' less than 2 % of accounts control 95 % of all available Bitcoin supply ''

SOMEPARTS

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4088 on: January 07, 2021, 07:06:15 AM »
'' less than 2 % of accounts control 95 % of all available Bitcoin supply ''



The real question is...how much of that is the Federal Reserve?  ;)

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4089 on: January 07, 2021, 07:35:28 AM »
Kraken Exec: Institutions and Retail Will Put Trillions of Dollars Into Bitcoin

Recently, Dan Held, Head of Growth at crypto exchange Kraken, explained why he believes the price of Bitcoin is set to go much higher in the next couple of years.

According to a report by The Daily HODL, in a video released on his YouTube channel last Tuesday, Held said that this Bitcoin cycle is very different all of the previous cycles:

“What’s really unique about this cycle though, and I’ve been around for all the other cycles… this one is very different. Never before has it had such strong fundamentals against a macro backdrop which highlights exactly why it’s needed…

“Never before have we seen Dutch GDP ratios like this. Never before have we seen inflation this high. It is truly unprecedented. This is what’s so interesting that folks don’t think that they need Bitcoin until this moment happens when it shakes them out of their reality and they go ‘Oh, I get why Bitcoin’s valuable.’ Just like getting earthquake insurance. Most people don’t think about getting earthquake insurance until an earthquake hits… And Bitcoin is exactly like that, it’s insurance against money and devaluing of money by governments and the lack of trust of banks.“

Held also explained why institutions are finally investing in Bitcoin:

“So Covid brought Bitcoin’s focus and value and made it really obvious for the world. And because of that, a new participant entered, the institutions… Institutions post-Covid were searching for a safe store of value. You’ve got $18 trillion of negatively yielding sovereign debt and Bitcoin offers such a greater value than gold… These institutions manage over a $100 trillion…

“What’s going to happen in 2021 and 2022 when everywhere you can buy Bitcoin: every bank, every brokerage. All that pent up purchasing and demand for Bitcoin flows into the market. So you get the institutions and retail who are going to flow trillions of dollars into Bitcoin over the next couple of years. And that’s why I think this is a supercycle. What happens when ownership of Bitcoin moves from 0.01% of the world to 1%? A 100x increase. Price will move much more than that.“


https://www.cryptoglobe.com/latest/2021/01/kraken-exec-institutions-and-retail-will-put-trillions-of-dollars-into-bitcoin/

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4090 on: January 07, 2021, 10:58:04 AM »
$ 38,043.61

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4091 on: January 07, 2021, 01:01:18 PM »
$ 38,043.61

Tapped over 39k already today.

Conservatively I’d expect the weekly data to show a wick of 44k and close of 41k.

Being more optimistic I’d suggest a 40k close today then on Saturday a wick of 49k and close of 44k.

Intraday shows large volume BTC dumps.


Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4092 on: January 07, 2021, 01:05:20 PM »
'' less than 2 % of accounts control 95 % of all available Bitcoin supply ''

Exactly the same as every other asset class.

2% / 98% is a well known universal rule.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4093 on: January 07, 2021, 04:43:15 PM »
'' less than 2 % of accounts control 95 % of all available Bitcoin supply ''

If this is supposed to be a criticism of BTC, it not only is misguided, but its also incorrect.

Lets use some common sense here and look at the evolution of gold. The very first person ever to find gold had 100% of all available gold. The second person to find (or receive) had either 0-100% of the total available gold, depending on the amount he received, and on it went. When a new and decentralized currency is born, you will always see a concentrated distribution that then is slowly dissipated. Think about how the energy of a rock thrown into a lake radiates waves, or how a drop of dye in a bucket of water slowly dissipates from its originally centralized source.

Second, bear in mind that the global concentration of wealth in fiat currency is highly skewed. I am sure you have heard the phrase of 1% of people owning "99% of the world's total wealth". (One reason for this is that fiat money is "printed" at a centralized source, and those closest to the source (leaders, politicians, bankers, power players etc) get the greatest access to it before it "trickles down" (only to be effectively stolen by those in power by further printing of it).

Third, it is not (for a range of reasons) possible to actually accurately measure BTC's individual ownership concentration. But a more likely correct estimate that around 80% of BTC in the top 20% of holders of BTC. Bear in mind also that such stats can be skewed due to "lost coins" of earlier holders, and of course Satoshi's stash (which one can equate with a ship of gold lost in the ocean, that we know exists, but that we also know that no-one is ever going to find). What we do know is that the masses are increasingly getting some BTC adoption, and that the total number of individual holders is rapidly growing. But this will become increasingly more expensive over time. One can still get 1000 Satoshi's for around USD 39 cents, but we an expect Satoshis to get for more expensive over time if demand for them grows. But the class of global "one-coiners" is becoming increasingly rare.

DooM - It is good to be skeptical of things, and to carefully question investment options, but we should not make (or blindly repeat) false statements, or draw incorrect conclusions. Having said that, good on you for raising this concern here, and allowing me to address it. (This 2% / 98% claim was was not one of the many false "objections" Mr A raised back in the day on his journey to Bitcoin acceptance, so I am glad it could be addressed now by me here...

This article may be of interest to anyone interested in the BTC concentration topic:

https://www.bitcoinsuisse.com/research/decrypt/distribution-of-stores-of-value

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4094 on: January 08, 2021, 04:38:15 AM »
$ 41,754.23

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4095 on: January 08, 2021, 04:49:26 AM »
As Bitcoin (BTC) Hits $40,000, Grayscale Sees Rising Interest From Pension Funds and Endowments



In a massive crypto market rally, Bitcoin (BTC) price surged all the way to $40,000 hitting a new all-time high. The massive rally came on Thursday, January 7 when BTC added $5000 to its price in a single day moving from under $35K to all the way up to $40K.

Also, with the current price rally, BTC extends its weekly as well as year-to-date gains to more than 30%. Another important milestone that Bitcoin (BTC) has achieved over a $700 billion market cap almost the size of Tesla (NASDAQ: TSLA).

While all this excitement continues, one thing that remains constant about Bitcoin is the rising institutional interest! The world’s biggest Bitcoin asset manager Grayscale continues to see major interest coming from big market players. Grayscale Investments LLC’s newly appointed CEO Michael Sonnenshein said that they are seeing a huge interest recently from pension funds and endowments.

    “We’ve started to see participation not just from the hedge fund segment, which we’ve long seen participation from, but now it’s recently from other institutions, pensions and endowments. The sizes of allocations they are making are growing rapidly as well,” he said.

Grayscale has engineered out a smart way of letting investors gain exposure to cryptocurrencies without directly buying them. The digital asset manager packs cryptocurrencies as shares of the trust and sells those shares to investors. The Grayscale Bitcoin Trust (GBTC) is one of the biggest Bitcoin funds currently with more than $23 billion in assets under management. GBTC currently holds nearly 3% of the total Bitcoin (BTC) supply or 607.27K BTCs under management.

Apart from Bitcoin (BTC), Grayscale has several other cryptocurrency products under the belt with net assets under management at $27 billion. But as we can see the GBTC alone contributes 85% of its total crypto holdings.

Sonnenshein has already played an instrumental role in bringing new investors and expand its offerings. In an interview with Fortune, he said that as the CEO, he plans to bring more crypto products to Grayscale and further strengthen the brand. “I want to make Grayscale synonymous with digital investing like Pimco is with fixed income and Vanguard is with index funds,” he said.



https://coingape.com/stratis-brings-blockchain-as-a-service-to-all-businesses-via-its-c-native-platform/

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4096 on: January 08, 2021, 05:04:02 AM »
Roubini: Bitcoin's 'hyperbolic bubble is going to go bust'

Famed economist Nouriel Roubini says that Bitcoin and other cryptocurrencies, which he’s dubbed as “shitcoins,” have no place in retail or institutional investor portfolios.

“First of all, calling it a currency — it’s not a currency. It’s not a unit of account, it’s not a means of payment.…it’s not a stable store of value. Secondly, it’s not even an asset,” Roubini said.

According to Roubini, Bitcoin has no intrinsic value. He pointed out that assets — bonds, stocks, real estate, or precious metals — either provide income, capital gains or some form of utility.

“While in the case of Bitcoin, there is no income,” he said. “There is no use. There is no utility. The only thing is a speculative, self-fulfilling kind of rise, and that rise is driven totally by manipulation.”

Roubini noted that there’s academic research to suggest that “this pseudo stable coin Tether has been created by fiat” and is “used literally to manipulate the price of Bitcoin.”

“The price of Bitcoin is totally manipulated by a bunch of people, by a bunch of whales. It doesn’t have any fundamental value,” he said. “We’re close to the point where the hyperbolic bubble is going to go bust.”


https://finance.yahoo.com/news/nouriel-roubini-says-bitcoin-bubble-will-go-bust-144807645.html

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4097 on: January 08, 2021, 05:57:15 AM »
Roubini: Bitcoin's 'hyperbolic bubble is going to go bust'

Famed economist Nouriel Roubini says that Bitcoin and other cryptocurrencies, which he’s dubbed as “shitcoins,” have no place in retail or institutional investor portfolios.

“First of all, calling it a currency — it’s not a currency. It’s not a unit of account, it’s not a means of payment.…it’s not a stable store of value. Secondly, it’s not even an asset,” Roubini said.

According to Roubini, Bitcoin has no intrinsic value. He pointed out that assets — bonds, stocks, real estate, or precious metals — either provide income, capital gains or some form of utility.

“While in the case of Bitcoin, there is no income,” he said. “There is no use. There is no utility. The only thing is a speculative, self-fulfilling kind of rise, and that rise is driven totally by manipulation.”

Roubini noted that there’s academic research to suggest that “this pseudo stable coin Tether has been created by fiat” and is “used literally to manipulate the price of Bitcoin.”

“The price of Bitcoin is totally manipulated by a bunch of people, by a bunch of whales. It doesn’t have any fundamental value,” he said. “We’re close to the point where the hyperbolic bubble is going to go bust.”


https://finance.yahoo.com/news/nouriel-roubini-says-bitcoin-bubble-will-go-bust-144807645.html

Hes been saying this forever. Don't think ge fuly grasps bitcoin. 

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4098 on: January 08, 2021, 06:00:01 AM »
There has to be a big pullback coming very soon.

Army of One

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #4099 on: January 08, 2021, 06:15:14 AM »
There has to be a big pullback coming very soon.


why?zoom out and set the chart to logarithmic, we just came out of a 2 year bear market.