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

[obsidian]

Your view changes depending on what your money can do for you vs what holding in crypto can do.

Life happens.

Just keep in mind that in a few weeks from now we will see the supply on exchanges begin to increase as the whales start to dump their holdings. Yes we will have a bull mad bullrun but we will have a massive dump afterwards.

Where do you keep track of this? Link? It would be a good idea to front run that in order to hopefully buy more at the dip. But the correction would have to be significant enough. I have diamond hands but not going to sit and miss opportunities. I already have to pay taxes on some of my trades this year so I might as well trade a few more times.

[Bindare_Dundat]

Once this week is done, it'll be green across the board.

[Theoak*]

Where do you keep track of this? Link? It would be a good idea to front run that in order to hopefully buy more at the dip. But the correction would have to be significant enough. I have diamond hands but not going to sit and miss opportunities. I already have to pay taxes on some of my trades this year so I might as well trade a few more times.

I cant speak  for Mayday as I dont trade.  Glassnode onchain data analytics is a good starting point.

[Griffith]

Poor. Old. Mr Anabolic...

LOL at the British Pound.

[Griffith]

Biden administration considering a new 3 trillion dollar stimulus package:

https://www.marketwatch.com/story/biden-eyes-3-trillion-package-for-infrastructure-schools-families-01616462242

[Mayday]

Where do you keep track of this? Link? It would be a good idea to front run that in order to hopefully buy more at the dip. But the correction would have to be significant enough. I have diamond hands but not going to sit and miss opportunities. I already have to pay taxes on some of my trades this year so I might as well trade a few more times.

Glassnode for market data as the oak mentioned and I use TradingView for charts.

I wasn’t using anything 6 weeks ago and got burned following some people who got things wrong so I search out the data myself and consider what I feel are the key drivers.

This time around I got the peak and the dip model pretty bang on. I had another 100k in at 46k and 48k so I was pretty happy and almost zero stress for me this time around.

Depending on what I see at around 80k I might trade my alt coin positions outside of ETH.

[Griffith]

Glassnode for market data as the oak mentioned and I use TradingView for charts.

I wasn’t using anything 6 weeks ago and got burned following some people who got things wrong so I search out the data myself and consider what I feel are the key drivers.

This time around I got the peak and the dip model pretty bang on. I had another 100k in at 46k and 48k so I was pretty happy and almost zero stress for me this time around.

Depending on what I see at around 80k I might trade my alt coin positions outside of ETH.

Do you think BTC at 54-55k is near the bottom in this pullback?

And what timeframe do you see BTC potentially reaching 80k?

[Mayday]

Do you think BTC at 54-55k is near the bottom in this pullback?

And what timeframe do you see BTC potentially reaching 80k?

I did this for my bottom target:
March is historically a negative growth month.
Feb closed at 44k.
Fib retracement was getting down to 41k and we have 39k-42k resistance/support which is also around a 29% wick. I had 46.7k as the first dip which is typically smaller that a second.

Then I considered the huge buying pressure of late. I figured it was possible a 2nd dip wouldn’t happen or it would be weaker than the first.

That’s how I came to my plan.

For this ‘weak’ dip I had the bottom at 52.8k and I see a wick to 52.9k so it’s pretty close and it did bounce rather than break it.

54.5k has heavy support but if that breaks it’ll probably head towards 49k I think.

[Bindare_Dundat]

Id be very surprised to see it go below 50k. But who really knows?

[gib]

50 seems like a pretty decent base to build a new support level.

But even it if fell to 10K, that would still make it 50% on the year form the 5K low. I could imagine some scenarios where we got a fall to 20K, or even 10K. But the longer term direction seems ever upwards over time. If we get another bid drop I'm loading up the truck to hover up those Sats...

[Mayday]

12,000 coins pulled from the exchange. Going to be someone Massive, a new market participant perhaps? No announcements yet so perhaps they haven’t finished buying? Oracle?

2017 coin reduction on exchanges prior to bullrun was 10% 1M down to 0.9M
2021 coin reduction on exchanges so far is 22.5% —> 3.1M down to 2.4M

[Theoak*]

Something is going on, blockfi just dropped the interest rate on my coins to .5% as of the beginning of April. (Shifting over to ledn for 6%) More and more players taking long positions and forgoing shorting the market.

[Mayday]

Something is going on, blockfi just dropped the interest rate on my coins to .5% as of the beginning of April. (Shifting over to ledn for 6%) More and more players taking long positions and forgoing shorting the market.

I’m just not feeling bad that your minimum 1.1M in BTC is only earning you 0.5% interest lol.

[Theoak*]

I’m just not feeling bad that your minimum 1.1M in BTC is only earning you 0.5% interest lol.

Im feeling much better after this.


"You can now buy a Tesla with Bitcoin"
Elon Musk
@elonmusk
·

Tesla is using only internal & open source software & operates Bitcoin nodes directly.

Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

[Mayday]

Im feeling much better after this.


"You can now buy a Tesla with Bitcoin"
Elon Musk
@elonmusk
·

Tesla is using only internal & open source software & operates Bitcoin nodes directly.

Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

I’d love a Tesla but I drive too much.

Then there is the part where trying to pretend I am environmental friendly whilst drive a 2T, 5 seater car to work just with myself in it kind of fails lol.  Fuck it, I’ll stick to my M5 and burn fuel like a bastard!

[Bindare_Dundat]

these drops and runs back up are making me some seriously good $$ leverage trading. Love it.

[Theoak*]

I’d love a Tesla but I drive too much.

Then there is the part where trying to pretend I am environmental friendly whilst drive a 2T, 5 seater car to work just with myself in it kind of fails lol.  Fuck it, I’ll stick to my M5 and burn fuel like a bastard!

Dont care for a tesla, v8 man my self. I would never purchase one. Have 3 cars that are v8s and another getting built. Couldnt enjoy something I cant hear when your redline it.

Thats more in response to obsidian posting  a video stating tesla will sell its bitcoin holdings this bull market.

[obsidian]

Dont care for a tesla, v8 man my self. I would never purchase one. Have 3 cars that are v8s and another getting built. Couldnt enjoy something I cant hear when your redline it.

Thats more in response to obsidian posting  a video stating tesla will sell its bitcoin holdings this bull market.

I don't agree with that guy (Alex Becker). But I do like to hear other opinions and not live in an echo chamber. Alex cracks me up though. There are people that think like that and he is right not everyone can make money in crypto. There have to be losers so there can be winners. People that are emotional and react to fud and fomo all the time will get rekked.

[Mayday]

Dont care for a tesla, v8 man my self. I would never purchase one. Have 3 cars that are v8s and another getting built. Couldnt enjoy something I cant hear when your redline it.

Thats more in response to obsidian posting  a video stating tesla will sell its bitcoin holdings this bull market.

Nice.

My wife had a Mercedes C63 and I had the M5 which was a really good mix. Had a 700hp supercharged Aussie V8 muscle car a little while back. Looked crazy wicked all blacked out and lowered. Problem was I live in an area where they don’t have cars like that and I got chased by cops 4 times so I gave up and sold it.

[Theoak*]

Nice.

My wife had a Mercedes C63 and I had the M5 which was a really good mix. Had a 700hp supercharged Aussie V8 muscle car a little while back. Looked crazy wicked all blacked out and lowered. Problem was I live in an area where they don’t have cars like that and I got chased by cops 4 times so I gave up and sold it.

Have a 67, 68(current build) and 69 american muscle cars. High horsepower. Cops tend to leave me alone as theyre show car quality. Club reg too. Might he bit different here as there is a big muscle car following in Vic and cops tend to leave us alone. 

Aussie muscle cars are fetching crazy prices. Especially since holden stopped manufacturing.

C63 are a different kind of.animal. im more SUV as daily driver cant go back to a sedan. Wife has a Rangey and for the price you pay its a POS. Nothing special.

[Griffith]

https://coinmarketcap.com/headlines/news/bitcoin-doge-elon-musk-set-pump-defi/

After Bitcoin and Doge Elon Musk All Set to Pump “DeFi”

Elon Musk is notorious for shilling Dogecoin quite often and Bitcoin a few of the times post-Tesla’s $1.5 billion Bitcoin purchase. However, now he has set his eyes on the defi market, the biggest success story from the crypto space in 2020. Musk tweeted

Don’t  defy Defi

Don’t defy DeFi

— Elon Musk (@elonmusk) March 25, 2021

Only yesterday Tesla opened its long-awaited Bitcoin payment option for its cars in the US Customers and more importantly set up its Bitcoin node with open-source software. Musk also promised that all the Bitcoin from car purchases would be kept on their node and won’t be converted to fiat.

Musk’s regular dogecoin tweets also put him in trouble as SEC suggested earlier that they might question tech billionaires for his irresponsible tweets.

Is Musk Following Defi Boom?

Decentralized Finance or Defi became one of the biggest success stories of 2020 turning into a multi-billion dollar industry. The total value locked in defi reached $45 billion this February.  Given Musk’s interest in cryptocurrencies, it’s not a big surprise if he has been following the boom.

Musk also proposed selling an NFT on defi protocol Polygon-powered Cent.

🚀 First @jack, and now it’s the legendary "Technoking of Tesla" @elonmusk using Polygon!

🔥 You can own this Elon Musk autographed tweet on the Polygon-powered platform Valuables @cent.

The current bid for ownership of this NFT is at 1.12M$ 👀 https://t.co/fMNV7SBVNy

— Polygon (previously Matic) (@0xPolygon) March 16, 2021

With Bitcoin’s mainstream boom eminent, the next big tech to see mainstream financial adoption could be Defi as many believe it could be the future of banking including many in the US regulatory circles. Defi has also gained a lot of traction in the Forex market and many see defi based Forex market as a potential multi-billion dollar industry.

Elon Musk tweet has said to pump Dogecoin on several occasions, while many believed his Twitter profile addition of Bitcoin pumped the price of a top cryptocurrency by 10% in under 30 minutes. His recent tweet on Defi is being interpreted as his interest and support for the crypto ecosystem and one should watch out for price fluctuation in the defi market as has been the case with most of Musk’s tweet.

[OneMoreRep]

https://coinmarketcap.com/headlines/news/bitcoin-doge-elon-musk-set-pump-defi/

After Bitcoin and Doge Elon Musk All Set to Pump “DeFi”

Elon Musk is notorious for shilling Dogecoin quite often and Bitcoin a few of the times post-Tesla’s $1.5 billion Bitcoin purchase. However, now he has set his eyes on the defi market, the biggest success story from the crypto space in 2020. Musk tweeted

Don’t  defy Defi

Don’t defy DeFi

— Elon Musk (@elonmusk) March 25, 2021

I like Musk for his genius ingenuity and willingness to take technology to the next level. That said, I think he is a master troll and would do VERY well in a place like GetBig, assuming he can get over all the pictures of oiled-up bodybuilders.

My wonder now is, which defi crypto will he pump billions into? Obvious money would be on Ethereum. But what if he picks a smaller outfit, say PolkaDot, Cardano or Tether, due to his ability to snatch up a shit load with his millions/billions?

He has such power to essentially create pump & dump scenarios and create fantastic profit-generating opportunities for day traders.

"1"

[Mayday]

For real world defi today, Ethereum dwarfs every other alt coin in terms of transactions and adoption.

exchanges are speculation driven which gives a misleading view on adoption and usage.

People look at ADA and think hey it’s 15% market cap of ETH therefore it can overtake it. The reality is the transaction fees is generated might be 0.5% because projects are not actually using it on a large scale.

You wind up with a massive split between usage and adoption vs market value. This is exactly why 80% of alt coins disappear each year. Hype the coin, dump the coin, oh shit it turns out nobody was really using it.....then it dies and the project team vanish and then create a new coin and try again.
 

Here is a really good site I recommend everybody take 2 minutes to look at. The top 10 are the ones to watch because they hold the leading adoption and usage positions.

https://cryptofees.info/

[Thin Lizzy]

Y’all see this?



https://www.cnbc.com/2021/03/25/fidelity-wants-to-launch-a-bitcoin-etf-cryptocurrency-sec.html

[Mayday]

Y’all see this?



https://www.cnbc.com/2021/03/25/fidelity-wants-to-launch-a-bitcoin-etf-cryptocurrency-sec.html

A bunch of of ETF applications have gone in very recently. They are in a race.

Grayscale will end up converting to an ETF I assume.