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

[Mayday]

Exactly!

It’s interesting from my perspective to see Americans be easily swayed to conspiracy theories and believe the rich are controlling every aspect of life on Earth yet when they are armed with the knowledge that the rich are involved in Bitcoin those same Americans claim it’s useless....

The rich are using QE to pillage the current world.
The rich are buying into crypto to control the next world.

It’s that simple and it’s right in front of us.

[gib]

Forget the 'money' line that some people push. The currencies will be here after all this mess, bitcoin isn't going to take over them in the near future.

You need to consider it as a 'stable asset' against the Money Supply. This is what Bitcoin is.

Instead of wondering whether one should put their money into stocks, metals, property, art etc you can dump it in bitcoin and be protected from currency devaluation. If the money supply goes up 25% then Bitcoin goes up 25%, that is how it will work once it becomes larger and less volatile.

You use it as savings. Then when you are ready to purchase something, put it into fiat and buy what it is you need.


Soros is already in. Bill Gates is already in. All these fuckers are not only making billions off QE but also buying assets involved in crypto and gaining from it aswell.

All that BS about Gates giving away his fortune..... the mofo is the largest farmland owner in the US, has his fingers all through the vaccines and is also snapping up crypto related assets along with crypto. Oh but he'll tell every average Joe not to buy it..... if you believe what he says, well i wish you the best.

Well said. Its hard to believe people simply can't understand this. Those who "trust the system" are essentially slaves.

Through various phases of BTC was that the cypher-punks, mathematicians, geniuses, dreamers, anarchists, realists, freedom-lovers, smart economists, technologists, etc who aall understood. The super rich and those with super political control then had to make a decision - do we fight and resist the people? Or do we accept this is happening, and embrace whilst trying to maintain power. Its the latter which is now playing out (as the former is virtually impossible, unless you actually kill people - and even then the algorithm itself still continues to function, just with less people who have access to their stored wealth).

So, we as individuals, have an opportunity to front run the big boys. Big funds, investment banks, pension funds, corporates, retail banks, insurance companies, central banks, Governments. There is still ample time to convert fake sovereign money (of unlimited supply) into global money (of 100% limited supply). But each and every day, minute, second, that opportunity to capture wealth is declining, as of course the more wealth that is moved into Bitcoin, the higher the % of wealth is captured by Bitcoin, making its price higher (and the proportionate relative percentage upside lower).

But gain, it still early early days.

I would urge everyone to forget about daily prices (even though its fun). A good short term horizon next time marker could be March 2025 (around 9 months or so after the next halvening (likely in June 2024 at this stage).

For those who are interested in short term, as I said before we have a nice solid base above 50K for BTC. Everytime there is a bump above, fewer and fewer week hands selloff. (Some might be early BTC owners taking small gains, some might be HNWs or funds adjusting their balance to ensure BTC % holding is not too high for total allocation, some might be funds who want to lock in a very nice gain for the year and simply "go to the beach" - if your fund is already 20%+ up over the year you have already hit a great number so why risk losing that and the associated bonus). But either way, that consolidation is really building a very solid foundation. Coinbase IPO coming could be what is needed to boost the next big move.

[gib]

I would do it now.

Moving an asset that is increasing in value, into one that is decreasing in value, is not typically a smart idea when the prime function of the asset is to preserve wealth...

Having said that, I think its quite OK to own and hodl a little gold. I would not rule gold out entirely. BTC will slowly but surely consume gold's market cap, but a point may well come, when those in BTC may look for an analogue alternative and might actually buy a little gold for the first time. Combine that with social media and a bitcoin payment network and you have the makings of a gold boom at some time in the future...

[El Diablo Blanco]

Aren’t there only something like 20M BTC since a lot are considered lost? Out of those 20 million how many actually people hold them since some dudes have a shitload. How can one asset held by maybe 15 million max people be worth so fucking much?

[Mayday]

Aren’t there only something like 20M BTC since a lot are considered lost? Out of those 20 million how many actually people hold them since some dudes have a shitload. How can one asset held by maybe 15 million max people be worth so fucking much?

21M BTC supply

A few are lost yes.

Like most things 5% own 95%.

There is 100M satoshi per Bitcoin so we aren’t running out.

It’s just that today a full coin is affordable whereas in 2022 a full coin will only be affordable by 5% of the population and then by 2025 only 2% will afford a full coin. People will purchase satoshis just fine.

Don’t overthink the ‘full coin’ thing too much. One should consider if you have 10K of savings in a
Bank account it earns zero interest vs in Bitcoin it will increase it’s value by 100%/yr.

[Griffith]

XRP up 130% in the past week.

VeChain (VET) up 50%.

[OneMoreRep]

So I finally managed to read a couple of books on Crypto finance. While I am not an expert on the entire crypto eco-and-financial-system, I am now at least better able to analyze individual cryptos with relative ease as compared to before. As an Accounting & Economics BS/MBA/CPA, the study of cryptocurrencies was never an area of study in my day. I am strong at financial technical analysis via candlestick patterns, fibonacci retracements and of course tried & trusted research and have started to at least marry that knowledge into the world of Crypto. Again, just really getting my feet wet, as my true fields of expertise when it comes to investments is within Real Estate Investment Properties, REITs, Taxation loopholes, Index Funds, ETFs and Government + Corporate Bonds. With regards to cryptocurrencies, I am now truly beginning to appreciate the relationship that circulating supply, crypto price and market cap all have when determining what the maximum "estimated" price of a crypto could be. I've also come to appreciate that the godfather of all cryptos at this point is Bitcoin and it's truly the main measuring stick to compare and contrast the performance of other possible cryptos. In other words, its become clear that all other cryptocurrency price projections have to be pegged to BTC, as it's essentially the trailblazer that shows others how far they could, in theory, go. I am now seeing that the crypto market's TOTAL market cap that hovers at around $2+ Trillion has much importance in determination of "possible" future prices.

Recently, I had purchased both Cardano (ADA) + Polkadot (DOT) for my nephew as a gift. After analyzing both, I realized that getting rich from either of those would be farfetched, unless the cryptos were both bought when individual prices were worth less than $0.10 and to the tune of 10,000+ ADAs and/or DOTs.

Looking closely at both these cryptos, I realized that the true maximum price ADA could possibly attain in a warped reality is likely around $35-$40. To even reach that price, ADA would need a market cap that is > $1 Trillion (in other words, it would have to be an equal to BTC, if not larger in terms of market cap). Hell, for ADA to reach similar prices as present day BTC ($60,000), it would have to have a market cap of roughly $67 Trillion. Given that the entire world's money supply is anywhere between $90-120 Trillion, I don't ever imagine a reality where ADA would suck up more than half of the world's money supply. That said, Cardano is indeed looking at bigger goals (integration into Ethiopia as practically a new currency for the country). I also realize that Africa's potential to be the next financial frontier is massive, given that they have a lot more untapped natural resources and people capital than many other continents. No surprise that China is aggressively digging their claws into that continent.

Polkadot, by way of it's smaller circulating supply of 928,426,052 (ie scarcity giving it more actual value) and present market cap of $37,483,357,697, has a lot more potential to "BOOM" and in a future world reach a max price of around $1,200 (if its market cap matches BTCs market cap). Again, both ADA & DOT are great cryptos to own, as they are more advanced in their capabilities as opposed to merely great storages of wealth and/or hedges against inflation like Bitcoin.

Ethereum is also good, but its price certainly poses a barrier to entry for most (I bought a sizable position not too long ago), unless you buy fractional amounts. Even then, if pegged to the price of BTC, its maximum possible price would be more like $10,000. Again, not bad, but depending on when you enter the game, your gains might not be astronomical or life changing.

Also, there is no telling how far inflation (or even hyperinflation) can go given the recent antics of the Federal Reserve and other foreign nation central banks. We could slowly walk into a new paradigm shift where world money circulation quadruples in size, which would in turn drastically raise the price of all cryptos.

Recently, I posed a question with regards to what new cryptocurrencies could possibly be the next Bitcoin. It's hard to speculate, as the total market cap for the cypto market is literally just a little over $2 Trillion and half of that is owned by Bitcoin. But in tomorrow's world, where central banks possibly disappear due to greed, corruption and induced hyperinflation, there could be a viable argument to suggest that the "people" might have to take the concept of money into their own hands (or digital wallets). But if any of you have a crazy notion about what crypto could become the next Bitcoin, share that with us. I'd like to analyze the fuck out of it and begin a discussion towards finding that unicorn.

"1"

[Humble Narcissist]

Moving an asset that is increasing in value, into one that is decreasing in value, is not typically a smart idea when the prime function of the asset is to preserve wealth...

Having said that, I think its quite OK to own and hodl a little gold. I would not rule gold out entirely. BTC will slowly but surely consume gold's market cap, but a point may well come, when those in BTC may look for an analogue alternative and might actually buy a little gold for the first time. Combine that with social media and a bitcoin payment network and you have the makings of a gold boom at some time in the future...

Moving an asset that is increasing in value is smart when the asset is Unicorn farts.

[Griffith]

These are some cryptocurrencies I am considering:

Enjin Coin (ENJ)

Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

Theta (THETA)

Theta (THETA) is a blockchain powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.

Elrond (EGLD)

Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.

BitTorrent Token (BTT)

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years.

Aave (AAVE)

Aave (AAVE) is an Ethereum token that powers Aave, a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow cryptocurrencies in exchange for paying a variable interest rate.

Decentaland (MANA)

Decentraland is an Ethereum-based blockchain platform where users can purchase, build and monetize virtual reality applications. Users can purchase virtual land in the platform’s world which gives them ownership and control over the environment and applications they create within their land.

[OneMoreRep]

These are some cryptocurrencies I am considering:

I'd like to expand on each one if it's ok with you, but first lets talk about this one:

Enjin Coin (ENJ)

Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

I started to slowly read up on this crypto and did find it interesting. I really like the fact that Enjin Coin is the product of Enjin and that Enjin is a blockchain-based game and app developer. Just the mere fact that this coin could facilitate transactions between players within online and in-app gaming is HUGE in my opinion.

The world of online gaming has an enormous participation rate/volume. Moreover, while some can argue that the vast majority of participants are also children, we know very well that the easiest way into the pockets of a set of parents (2 parents at that) is by way of a nagging, crying or overachieving child that simply wants game tokens or exchangeable currency to use in their gaming experiencing. Putting aside the fact that adults also love to spend on online and in-app gaming, I think this holds a world of potential. What I haven't researched as of yet is what gaming platforms and/or companies have they paired with or have working contracts with. For instance, if ENJIN coin had a working relationship with EPIC games (the developers of Fortnite), then it's a no-brainer for me.

In terms of a basic analysis, here's what I found:

ENJIN coin currently has a circulating supply of: 834,313,757 (That's huge, as it's relatively scarce compared to other cryptos, which increases the likelihood that the inherent value per coin can mature to be high). Circulating supply in the double digit values (ie millions, the likes of Bitcoin) would be great, but triple digit values in the millions certainly beats numbers in the billions. Also, just as an added note, I am familiar with the fact that the calculations below might be a little skewed as the actual MAX total circulating supply that ENJ can have is in reality 1,000,000,000 (still not far from that 834 million we will be working with).

If we compared (ie peg) the circulating supply of ENJ (834,313,757) to that of Bitcoin's (18,679,875), it's conceivable to see that for ENJ to be as valuable as BTC, it's market cap would have to increase to the tune of 45x. Thus, ENJ's future market cap in order to achieve BTC levels would have to become: $120,204,741,285. A market cap in the billions (as aforementioned) is very reasonable to obtain, given that ETH for instance already has a market cap of $248,467,152,508 (which is more than double).

Now, if we wanted to go crazy and assume ENJ reaching values of BTC in terms of actual price as related to current market cap, it's also feasible. When comparing market cap to market cap, ENJ price can grow up to 420x and land a price of $1,356 per coin (which is pretty awesome considering it's current price) if obtaining a similar market cap of $1 Trillion +.

Again, maybe not the kind of crazy $60K+ returns that Bitcoin offers today, but if you take a small position, say $1,000, if/when the actual price reaches over $1.3K as I mentioned previously, you could be looking at around half a million USD in profits during a long hold.

The other thing I am not even trying to calculate into this broad equation is that if and when the actual crypto space market cap increases and we no longer dabble with just slightly over $2 Trillion of available money invested into BTC and all other coins, then the script can be flipped and most predictions would be off.

Let me know your thoughts and cross-analysis. I haven't bothered to perform an actual technical analysis on ENJ, but on face value and research alone, it does seem attractive.

"1"

[gib]

I'd like to expand on each one if it's ok with you, but first lets talk about this one:

I started to slowly read up on this crypto and did find it interesting. I really like the fact that Enjin Coin is the product of Enjin and that Enjin is a blockchain-based game and app developer. Just the mere fact that this coin could facilitate transactions between players within online and in-app gaming is HUGE in my opinion.

The world of online gaming has an enormous participation rate/volume. Moreover, while some can argue that the vast majority of participants are also children, we know very well that the easiest way into the pockets of a set of parents (2 parents at that) is by way of a nagging, crying or overachieving child that simply wants game tokens or exchangeable currency to use in their gaming experiencing. Putting aside the fact that adults also love to spend on online and in-app gaming, I think this holds a world of potential. What I haven't researched as of yet is what gaming platforms and/or companies have they paired with or have working contracts with. For instance, if ENJIN coin had a working relationship with EPIC games (the developers of Fortnite), then it's a no-brainer for me.

In terms of a basic analysis, here's what I found:

ENJIN coin currently has a circulating supply of: 834,313,757 (That's huge, as it's relatively scarce compared to other cryptos, which increases the likelihood that the inherent value per coin can mature to be high). Circulating supply in the double digit values (ie millions, the likes of Bitcoin) would be great, but triple digit values in the millions certainly beats numbers in the billions. Also, just as an added note, I am familiar with the fact that the calculations below might be a little skewed as the actual MAX total circulating supply that ENJ can have is in reality 1,000,000,000 (still not far from that 834 million we will be working with).

If we compared (ie peg) the circulating supply of ENJ (834,313,757) to that of Bitcoin's (18,679,875), it's conceivable to see that for ENJ to be as valuable as BTC, it's market cap would have to increase to the tune of 45x. Thus, ENJ's future market cap in order to achieve BTC levels would have to become: $120,204,741,285. A market cap in the billions (as aforementioned) is very reasonable to obtain, given that ETH for instance already has a market cap of $248,467,152,508 (which is more than double).

Now, if we wanted to go crazy and assume ENJ reaching values of BTC in terms of actual price as related to current market cap, it's also feasible. When comparing market cap to market cap, ENJ price can grow up to 420x and land a price of $1,356 per coin (which is pretty awesome considering it's current price) if obtaining a similar market cap of $1 Trillion +.

Again, maybe not the kind of crazy $60K+ returns that Bitcoin offers today, but if you take a small position, say $1,000, if/when the actual price reaches over $1.3K as I mentioned previously, you could be looking at around half a million USD in profits during a long hold.

The other thing I am not even trying to calculate into this broad equation is that if and when the actual crypto space market cap increases and we no longer dabble with just slightly over $2 Trillion of available money invested into BTC and all other coins, then the script can be flipped and most predictions would be off.

Let me know your thoughts and cross-analysis. I haven't bothered to perform an actual technical analysis on ENJ, but on face value and research alone, it does seem attractive.

"1"

I will just make a general comment. The vast majority of "alts" are outright scams. We seen more than 10,000 alts give it a shot, and very very few have gained any longer term trading traction. And even then, for those that last a little longer before disappearing, you need to figure out what their intended purpose is beyond simply being a purely speculative asset. An even smaller % that actually are truly potentially useful, are successfully adopted long term for any practical use. We all want to be chasing the rainbow for that pot of gold, but the reality is that the gold (in terms of pristine store of value) already exists - which is Bitcoin.

Now don't get me wrong, that is not to say that in the short term, an alt could pump incredibly hard. They can.

Most serious longer term and fulltime crypto investors I know started with (or still have a 70/20/10 approach). Ie BTC 70%, Eth 20%, alts 10%. A number of then take that 10% for alts and put it into and out of various alts quite rapidly, using leverage, and then store any gains they make in BTC until the next move. Remember its all good jumping around like this when the market is buoyant. On any correction the alts will get devastated, which is why some of the "grey-hair" traders that started in the 2015-2008 period stay away from alts altogether. 

The only other reliable way to make money on ats is to be very very close to the top of the food chain. There is quite a good launching structure now, with founders then selling to market pumpers who in turn have connects to crypto social media influencers, who then eventually flow down to retail investors. So, if you are connected anywhere above the retail investor in the chain there is money to be made. Sometimes huge. So for example I have friends who get an "in" at 250K, and then sell out at 1m (in some cases way way to early). On one such cases a friend put in 200K only for the alt pump to peak at 40x. I have been invited to participate in these schemes but have always declined, as exciting as they sound its not for me.

[OneMoreRep]

I will just make a general comment. The vast majority of "alts" are outright scams.

I can see that. To that point, I think the most serious altcoin is Cardano. Created by one of the founders of Ethereum and with some serious plans for scaling.

The others are very risky and highly speculative. Anyone's guess as to which one will truly survive.

Also, for you it's different. If you already hold 50 actual Bitcoins or so, it's no longer a quick profit game for you via day trading, instead it's a long game with HODL'ing all the way.

"1"

[gib]

I can see that. To that point, I think the most serious altcoin is Cardano. Created by one of the founders of Ethereum and with some serious plans for scaling.

The others are very risky and highly speculative. Anyone's guess as to which one will truly survive.

Also, for you it's different. If you already hold 50 actual Bitcoins or so, it's no longer a quick profit game for you via day trading, instead it's a long game with HODL'ing all the way.

"1"

Yes, agree. But I would add its never too late to HODL. If you have clients asking about crypto investing, I would be very very careful advising on any alt. Remember you main aim should be to preserve wealth, and generate the most likely return in proportion to minimum risk.

[Mayday]

I can see that. To that point, I think the most serious altcoin is Cardano. Created by one of the founders of Ethereum and with some serious plans for scaling.

The others are very risky and highly speculative. Anyone's guess as to which one will truly survive.

"1"

Probably not what you want to hear but The ‘SS spastic crazy returns’ boat left the dock 9 months ago.

BTC will 5x from here with low risk.

I’m only in alts for a little While longer before I dump just like the whales.

[OneMoreRep]

Yes, agree. But I would add its never too late to HODL. If you have clients asking about crypto investing, I would be very very careful advising on any alt. Remember you main aim should be to preserve wealth, and generate the most likely return in proportion to minimum risk.

Regarding my clients, remember I'm an Accountant (CPA), not a financial advisor, so technically I can't give out financial advice (just limited financial advice).

Now, when close friends (whom I do taxes for) ask what they should do in terms of crypto investments, I suggest that no more than 10-15% of their portfolio should be invested into crypto. As a store of wealth and possible hedge against inflation of the USD, I suggest BitCoin as it does provide better ROI than many other types of investment. The major con of course is the volatility when it comes to BTC, but it's looking more and more promising with larger institutions coming into the picture.

"1"

[Bindare_Dundat]

Cardano is a great play and I'm grabbing more and am staking as well.  Ill be holding on to cardano for a long time.
Love the deadalus wallet as well.

Go for it. I respect gib and Mayday but I'm not a fan of the btc maximallists mentality.

Crypto works in cycles. Money flows from btc to the major alts and down to lower cap crypto. Then the cycle repeats itself. This time won't be any different. Look at some the explosive growth of some of the alts. Insane %.  You could never make as much money or as quickly just holding some Satoshi at this price in the same.time frame.

[Mayday]

I hold more in alt coins than I do BTC so I’m hardly a BTC maximalist. 

I understand monetary systems, inflation and deflation. BTC falls into that area. It’s my bet against the money supply which I track and follow closely. I understand why BtC has a value, whereas I don’t know why alts have a value or what it’s supposed to be.

stating one couldn’t possibly make as much buying BTC doesn’t factor in risk/odds. That is penny stock level of thinking. If BTC market share goes up 10% it means 1 coin gained all that value. If alt coin market share goes up 10% it means the increase was divided among 6,999 coins. Hopefully people pick well.......

[Bindare_Dundat]

60,820

[Bindare_Dundat]

I hold more in alt coins than I do BTC so I’m hardly a BTC maximalist. 

I understand monetary systems, inflation and deflation. BTC falls into that area. It’s my bet against the money supply which I track and follow closely. I understand why BtC has a value, whereas I don’t know why alts have a value or what it’s supposed to be.

stating one couldn’t possibly make as much buying BTC doesn’t factor in risk/odds. That is penny stock level of thinking. If BTC market share goes up 10% it means 1 coin gained all that value. If alt coin market share goes up 10% it means the increase was divided among 6,999 coins. Hopefully people pick well.......

ADA 1q returns are over 550%

BTC 1q returns. 110%

[Bindare_Dundat]

61k

[gib]

New ATH looks likely on Coinbase listing this Wednesday.

(Poor old Mr Anabolic...)

[Bindare_Dundat]

New ATH looks likely on Coinbase listing this Wednesday.

(Poor old Mr Anabolic...)

Yes but what happens after that? We just hit 61.4 on bybit. Wonder how bad the drop will be after Wed. before things pick back up?

[FitnessFrenzy]

What a spectacular bull run we are seeing in XRP and binance coin. I read up on binance coin and it makes sense why it is going up in value. I don't know anything about XRP.

[FitnessFrenzy]

[Mayday]

What a spectacular bull run we are seeing in XRP and binance coin. I read up on binance coin and it makes sense why it is going up in value. I don't know anything about XRP.

BNB is solid. I’m heavy on that one and it’ll end up being some big monster of a coin.