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

[Griffith]

I’m not holding anything right now.

I am entering 100% ETH in my next move. Just waiting for the current situation to settle down.

I'm considering Ethereum as well.

How much of a dip do you think we will see?

At the moment it's about $ 1200.

[Bindare_Dundat]

I'm considering Ethereum as well.

How much of a dip do you think we will see?

At the moment it's about $ 1200.

No one can predict this with accuracy. Its an educated guess by following certain trends/cycles/fundamentals, etc....if you're in long term, don't worry about any of this, just buy and hold. But you need to make these decisions on your own and I wouldn't put all my faith into anyones predictions. You'll end up wrecked that way. Be prepared mentally our you'll be pulling money in and out chasing numbers going up and down wildly. I'm prepared to see things drop 40 percent, others aren't.

Mayday has a better understanding of these things but even  though holding long won't make you the most money, it'll still be advantages to do so imo. Apologies  if this is redundant to you.

Id like to hear Mayday or anyone else's thoughts on this though, I don't want my opinion screwing over anyone.

[Griffith]

No one can predict this with accuracy. Its an educated guess by following certain trends/cycles/fundamentals, etc....if you're in long term, don't worry about any of this, just buy and hold. But you need to make these decisions on your own and I wouldn't put all my faith into anyones predictions. You'll end up wrecked that way. Be prepared mentally our you'll be pulling money in and out chasing numbers going up and down wildly. I'm prepared to see things drop 40 percent, others aren't.

Mayday has a better understanding of these things but even holding long won't make you the most money, it'll still be advantages to do so imo.

Id like to hear Mayday or anyone else's thoughts on this though

I will be buying ETH either way, and holding long-term, just interested in hearing others opinions as well, including any forecasts.

[epic is back]

I’m waiting for Melvin who works for Verizon and has a house on wheels to tell me how to invest

Until then I await and watch wrastin videos

[Bindare_Dundat]

I’m waiting for Melvin who works for Verizon and has a house on wheels to tell me how to invest

Until then I await and watch wrastin videos

Hes been quite since Armyof Ones post.

[polychronopolous]

Here come the Big Boys.

The on-ramps are continually being built.

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play: Source


U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end of 2020.

 “Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)

The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).

A tectonic shift took place in the world of crypto custody this week, as San Francisco-based Anchorage attained conditional approval from the OCC to become a national digital bank and “unequivocally” meet the definition of “qualified custodian” in the process.

Anchorage President Diogo Mónica said in an interview this regulatory approval will invite many large and risk-averse institutional players into crypto.

When asked about JPMorgan, Goldman and Citi – the three big U.S. banks most are watching in relation to crypto custody – Mónica said: “We are talking to all these guys.”

There has been chatter about Goldman perhaps offering something akin to prime brokerage services involving crypto. However, the Goldman insider said the bank is looking at custody but not prime brokerage.

“Anchorage, BitGo and Coinbase have quite grand plans in crypto prime brokerage and we would not be looking to duplicate those,” said the Goldman source.



 https://finance.yahoo.com/news/goldman-sachs-enter-crypto-market-214659079.html

[epic is back]

Yahoo confirmed!!’

[Bindare_Dundat]

Yup

Here come the Big Boys.

The on-ramps are continually being built.

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play: Source


U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end of 2020.

 “Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)

The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).

A tectonic shift took place in the world of crypto custody this week, as San Francisco-based Anchorage attained conditional approval from the OCC to become a national digital bank and “unequivocally” meet the definition of “qualified custodian” in the process.

Anchorage President Diogo Mónica said in an interview this regulatory approval will invite many large and risk-averse institutional players into crypto.

When asked about JPMorgan, Goldman and Citi – the three big U.S. banks most are watching in relation to crypto custody – Mónica said: “We are talking to all these guys.”

There has been chatter about Goldman perhaps offering something akin to prime brokerage services involving crypto. However, the Goldman insider said the bank is looking at custody but not prime brokerage.

“Anchorage, BitGo and Coinbase have quite grand plans in crypto prime brokerage and we would not be looking to duplicate those,” said the Goldman source.



 https://finance.yahoo.com/news/goldman-sachs-enter-crypto-market-214659079.html

https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Goldman, JPMorgan and Citi are all said to be looking at crypto custody.

U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.

When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”

Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end 2020.

“Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)

[Bindare_Dundat]

Eth, is close.

[Griffith]

Eth, is close.

What do you mean?

[epic is back]

Just waiting to hear how I can make 1500 from my financial adviser on wheels to lay out the plan

[OneMoreRep]

I'm sorry gentlemen, but this shit seems like a disaster.

Bitcoin is a highly speculative asset. It has created a bubble inflated by fear, speculation and hopes of a viable hedge against inflation + or even the possible collapse of the US dollar.

Here are some scenarios which could lead to a drastic drop in the value of BTC:

• The European Central Bank's president, Christine Lagarde, has called for greater regulation of BTC. If the European governments decide to squeeze BTC, it can lead to it's downfall. Not to mention that once Biden comfortable in the White House, he will most likely start to do the same and demand more regulation towards BTC.
• On Thursday, January 12, 2021, Federal Reserve chairman Jerome Powell stressed the fact that the creation of central bank digital currencies (CBDCs) is a very high priority. In other words, the US Federal Reserve Bank is already working on this and this is essentially the epitaph on BitCoin's tombstone.
• Why is BTC seeking for crypto custody by large US financial institutions? Playing devil's advocate, let's consider an alternate scenario as to the reason "why" BTC is looking for assumption of crypto custody by large US financial institutions. I believe BTC’s recent search for crypto custody by large US financial institutions (like Goldman Sachs, JP Morgan & CitiBank) is likely a move out of sheer desperation by BTC due to fears of likely incoming government regulation and furthermore the creation of a Federal Reserve digital currency. Remember, the Federal Reserve (which is made up of the 12 distinct Federal Reserve banks in the USA) is not owned by the US government (even though the US government/President can nominate a chairman). There are old families, which control some of the largest financial institutions here in the USA, that are behind the FED in its totality. I think it is farfetched to assume that after they (the families) built up the USA's standing as the current world superpower with the world's reserve FIAT currency, that they will just bend over and allow for the rise of BTC as the alternative to the US Dollar. If the FED gets involved and pushes for a FED coin (As Jerome Powell just suggested), BTC will disappear or at the very least crawl back into the speculative cave from which it came from to die a painful death.
• If the USD index continues to rise as recently seen this past week, then BTC value will undoubtedly drop as there has always been an inverse correlation between the two.
• Increased US government regulation of cryptocurrencies. Remember, Joe Biden and his party want more government regulation & taxation. This is the Democratic party for fuck's sake and they're about wealth redistribution at the cost of the wealthy. For anyone to think that a hypothetical store of wealth like BitCoin (where many of the "young" rich are trying to hide their money) would be immune to high government regulation, that Biden and family look to bring, is downright naive. Also, with the European Central Bank calling for more regulation of BitCoin, how long before the US Federal Reserve bank does the same? If the Fed follows in similar path to the European Central Bank, you better bet the house on the fact that Biden and Democratically controlled Congress will do as the FED asks, because they (The FED) are literally the USA's piggy bank.
• If a better designed version of cryptocurrency is created, it can also make BTC go away (this was most recently voiced by UBS).
• History has shown us that right as stocks (of any kind) are overbought, this most often times than not leads to ultimate corrections in price. Right now, BTC is way overvalued & overbought, I think his most recent 28% drop in the price of BTC was just the beginning.

Here are some scenarios which could lead to a temporary rise (even if short-lived) in the value of BTC:

• Crypto custody assumed by large US financial institutions. This will create a false sense of security, as traders/investors in Wall Street will adopt the sentiment that these financial institutions are TOO BIG TO FAIL and that the fate of the US economy hangs in their balance, which would then lead these investors to blindly assume trust on crypto not collapsing. The average financial analyst will assume that these big institutions would never assume such risky positions unless they knew something that the common man doesn't. What people forget is that these large institutions care about their FEES above all else. Regardless of BTC rising or crashing, so as long as they can charge their customer fees and get money for subsidized gambling, they don't give a fuck about the fate of BTC or any other cryptocurrency.
• A move from a worldwide dependence on oil to more sustainable sources of energy (electric, solar, hydrogen, wind sources etc). Given that oil is priced in dollars, we've had a monopoly in the world markets, but if you take the value of oil away, it will hurt the US dollar index substantially and lends more value to BTC. With some states like California talking about removing all oil powered cars by 2030 (clean car mandate), this could slowly set a trend that could be followed by other states, which could be bad for big oil companies and of course the US dollar.
• Fear of the US dollar undergoing substantial inflation (due to US gov't counting on the FED to continuously keep monetizing the debt in order to keep funding additional relief packages, keep our economy on life support & to furthermore fund the green new deal that democrats will aim for under Biden). If the USD loses value, most people will look for alternatives hedges against inflation. While I believe in different assets (Real Estate etc), some will blindly place trust in digital FIAT currency.

Let me know what you guys think. As an accountant, easily over half of my clients have sizable positions in BitCoin and when now preparing their taxes for the 2020 year, I keep asking the same questions to them that I have posed to you all. Sadly, they are mostly driven by the fear of missing out on a possible great opportunity created by BTC to make money. They're not looking at the end game, but instead following the guidance of their financial advisors that are of course supplied by the big financial trading firms.

"1"

[Bindare_Dundat]

What do you mean?

Might hit new highs relatively soon.

[Bindare_Dundat]

I'm sorry gentlemen, but this shit seems like a disaster.

Bitcoin is a highly speculative asset. It has created a bubble inflated by fear, speculation and hopes of a viable hedge against inflation + or even the possible collapse of the US dollar.

Here are some scenarios which could lead to a drastic drop in the value of BTC:

• The European Central Bank's president, Christine Lagarde, has called for greater regulation of BTC. If the European governments decide to squeeze BTC, it can lead to it's downfall. Not to mention that once Biden comfortable in the White House, he will most likely start to do the same and demand more regulation towards BTC.
• On Thursday, January 12, 2021, Federal Reserve chairman Jerome Powell stressed the fact that the creation of central bank digital currencies (CBDCs) is a very high priority. In other words, the US Federal Reserve Bank is already working on this and this is essentially the epitaph on BitCoin's tombstone.
• Why is BTC seeking for crypto custody by large US financial institutions? Playing devil's advocate, let's consider an alternate scenario as to the reason "why" BTC is looking for assumption of crypto custody by large US financial institutions. I believe BTC’s recent search for crypto custody by large US financial institutions (like Goldman Sachs, JP Morgan & CitiBank) is likely a move out of sheer desperation by BTC due to fears of likely incoming government regulation and furthermore the creation of a Federal Reserve digital currency. Remember, the Federal Reserve (which is made up of the 12 distinct Federal Reserve banks in the USA) is not owned by the US government (even though the US government/President can nominate a chairman). There are old families, which control some of the largest financial institutions here in the USA, that are behind the FED in its totality. I think it is farfetched to assume that after they (the families) built up the USA's standing as the current world superpower with the world's reserve FIAT currency, that they will just bend over and allow for the rise of BTC as the alternative to the US Dollar. If the FED gets involved and pushes for a FED coin (As Jerome Powell just suggested), BTC will disappear or at the very least crawl back into the speculative cave from which it came from to die a painful death.
• If the USD index continues to rise as recently seen this past week, then BTC value will undoubtedly drop as there has always been an inverse correlation between the two.
• Increased US government regulation of cryptocurrencies. Remember, Joe Biden and his party want more government regulation & taxation. This is the Democratic party for fuck's sake and they're about wealth redistribution at the cost of the wealthy. For anyone to think that a hypothetical store of wealth like BitCoin (where many of the "young" rich are trying to hide their money) would be immune to high government regulation, that Biden and family look to bring, is downright naive. Also, with the European Central Bank calling for more regulation of BitCoin, how long before the US Federal Reserve bank does the same? If the Fed follows in similar path to the European Central Bank, you better bet the house on the fact that Biden and Democratically controlled Congress will do as the FED asks, because they (The FED) are literally the USA's piggy bank.
• If a better designed version of cryptocurrency is created, it can also make BTC go away (this was most recently voiced by UBS).
• History has shown us that right as stocks (of any kind) are overbought, this most often times than not leads to ultimate corrections in price. Right now, BTC is way overvalued & overbought, I think his most recent 28% drop in the price of BTC was just the beginning.

Here are some scenarios which could lead to a temporary rise (even if short-lived) in the value of BTC:

• Crypto custody assumed by large US financial institutions. This will create a false sense of security, as traders/investors in Wall Street will adopt the sentiment that these financial institutions are TOO BIG TO FAIL and that the fate of the US economy hangs in their balance, which would then lead these investors to blindly assume trust on crypto not collapsing. The average financial analyst will assume that these big institutions would never assume such risky positions unless they knew something that the common man doesn't. What people forget is that these large institutions care about their FEES above all else. Regardless of BTC rising or crashing, so as long as they can charge their customer fees and get money for subsidized gambling, they don't give a fuck about the fate of BTC or any other cryptocurrency.
• A move from a worldwide dependence on oil to more sustainable sources of energy (electric, solar, hydrogen, wind sources etc). Given that oil is priced in dollars, we've had a monopoly in the world markets, but if you take the value of oil away, it will hurt the US dollar index substantially and lends more value to BTC. With some states like California talking about removing all oil powered cars by 2030 (clean car mandate), this could slowly set a trend that could be followed by other states, which could be bad for big oil companies and of course the US dollar.
• Fear of the US dollar undergoing substantial inflation (due to US gov't counting on the FED to continuously keep monetizing the debt in order to keep funding additional relief packages, keep our economy on life support & to furthermore fund the green new deal that democrats will aim for under Biden). If the USD loses value, most people will look for alternatives hedges against inflation. While I believe in different assets (Real Estate etc), some will blindly place trust in digital FIAT currency.

Let me know what you guys think. As an accountant, easily over half of my clients have sizable positions in BitCoin and when now preparing their taxes for the 2020 year, I keep asking the same questions to them that I have posed to you all. Sadly, they are mostly driven by the fear of missing out on a possible great opportunity created by BTC to make money. They're not looking at the end game, but instead following the guidance of their financial advisors that are of course supplied by the big financial trading firms.

"1"

Governments only.care about getting taxes from this. Thats all.

[OneMoreRep]

Governments only.care about getting taxes from his. Thats all.

Huh? Not sure what you mean by this statement.

Also, I think you are very mistaken if you think the US government only cares about taxation. While taxation is helpful for funding government sponsored programs and expenditures, the government holds power by way of their standing throughout international markets (particularly as the world's superpower & reserve currency). If we lose our position as the world reserve currency, which is directly tied to the US government, then we lose it all. If our currency holds less value or no value at all, we stop being the superpower that we are, which in turns renders us less useful in global markets.

"1"

[Bindare_Dundat]

Huh? Not sure what you mean by this statement.

Also, I think you are very mistaken if you think the US government only cares about taxation. While taxation is helpful for funding government sponsored programs and expenditures, the government holds power by way of their standing throughout international markets (particularly as the world's superpower & reserve currency). If we lose our position as the world reserve currency, which is directly tied to the US government, then we lose it all. If our currency holds less value or no value at all, we stop being the superpower that we are, which in turns renders us less useful in global markets.

"1"

They want to be able to get to your money. Many countries have tried to stop crypto and failed. The US hasn put in a serious effort thus far.

[OneMoreRep]

They want to be able to get to your money. Many countries have tried to stop crypto and failed.

But when you have the worlds' central banks teaming up with a push towards stronger regulation of crypto currencies, there is very little hope for it to not get squeezed.

The world depends on these central banks. The US economy wouldn't survive without the Federal reserve and now that Jerome Powell is talking about a Fed coin being a high priority & Christine Lagarde (president of European Central Bank) is calling for more regulation, how long do you think it will take for BTC to start crumbling"?

Central banks wield all the power in the world, not digital currencies.

"1"

[Bindare_Dundat]

But when you have the worlds' central banks teaming up with a push towards stronger regulation of crypto currencies, there is very little hope for it to not get squeezed.

The world depends on these central banks. The US economy wouldn't survive without the Federal reserve and now that Jerome Powell is talking about a Fed coin being a high priority & Christine Lagarde (president of European Central Bank) is calling for more regulation, how long do you think it will take for BTC to start crumbling"?

Central banks wield all the power in the world, not digital currencies.

"1"

Guess it depends on what people perceive the purpose of Bitcoin is. I dont see it as a competing currency. I look at it as digital gold. Central banks own gold, I don't see how this is any different.
 cryptos have different purposes/utility

I think that's what yoire getting at. I'm kinda distracted at the moment. Lol

[LurkerNoMore]

Why am I listed as the thread starter?  I didn't start this thread.

[Griffith]

Why am I listed as the thread starter?  I didn't start this thread.

You have the first post in this thread 

[Mayday]

I'm considering Ethereum as well.

How much of a dip do you think we will see?

At the moment it's about $ 1200.

The dip is tough. I believe BtC goes to low 30s and everyone thinks I am mad. ETH would be around 1k at that point.

My original estimate for BTC was around the 77k region but that was back at 20k or so. Now price has gone up to 40k that number is probably closer to 95k.

BTC 77k / ETH 3k
BTC 95k / ETH 4K

That is conservative because unless you watch it like a demon you won’t get the top.

ETH should tap 5k-7k peak price. July timeframe, hence I sold BtC to move to ETH.

[Mayday]

But when you have the worlds' central banks teaming up with a push towards stronger regulation of crypto currencies, there is very little hope for it to not get squeezed.

The world depends on these central banks. The US economy wouldn't survive without the Federal reserve and now that Jerome Powell is talking about a Fed coin being a high priority & Christine Lagarde (president of European Central Bank) is calling for more regulation, how long do you think it will take for BTC to start crumbling"?

Central banks wield all the power in the world, not digital currencies.

"1"

Regulation means adoption equals higher price. If people don’t want regulation then they can’t have the higher price. Institutions will not enter an unregulated market because they are regulated themselves.

There is no squeeze from regulation. We saw a 10k-20k increase in price when grayscale, microstrategy and square entered into the market. They are institutions. We see a growth of price the more regulated crypto becomes.

 The world has bigger problems than crypto. We are in a depression right now. The US Has blown the. dow Jones to 30.5k during a pandemic causing the metrics to blow up. The risk in 2021 is a major capital flight from the Dow Jones. BTC will be 0.4T by the end of this year, that is peanuts vs a 50T collapse of the share market let alone the flow on effect after that.

If there is a capital flight it will be to gold and the US Dollar overwhelmingly.

The Fed coin is expansionary and the same as the USD. It will be used for basal income purposes. BTC is the opposite and not a wide spread tender for payment of goods and services. They are not in the same boat.

The biggest killer is people’s hatred for BTC. People said it would die at $300 and people still say it will die at $40,000. Meanwhile a shitload of money has been made.

[obsidian]

BTC will be 0.4T by the end of this year, that is peanuts vs a 50T collapse of the share market let alone the flow on effect after that.

BTC is already at 0.648T and was 0.762T when the price hit 40K.

[Griffith]

Raoul Pal believes that in 10 years Ethereum could have a bigger market cap than Bitcoin.

https://coinjournal.net/news/investor-claims-ethereum-may-surpass-market-cap-of-bitcoin/

[Mayday]

BTC is already at 0.648T and was 0.762T when the price hit 40K.

You missed ‘end of the year’....  you’ll see....