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

[Bindare_Dundat]

The psychology of emotion and perspective I find really intersting.

One person's "drop from 65K to 50K" is another's "1000% rise from 5K to 50K")...

So you shorted? lol

[gib]

Lol. Long only for me this time around. Buy and Hodl...

[obsidian]

Im still in. Never hit 45k lmao asnd Im still in my long trade from way back too.  up 46%. guess i get the last laugh bro.  Want me to post the pic?

and youre welcome to hold your stash to zero. ill see you later while im picking up more coins and you're still recouping losses.  Its never stupid to be cautious. This can turn in a blink, we both know it.

Sounds good. Yes post a pic!

You are right we need to be cautious. Sell when everyone is greedy and buy when everyone is fearful. I do regret not selling to USD a week or two ago when everything was up - especially Doge. And then buying in lower. It is just not that easy to time it and I am the kind of person that finds it hard to sell when I see it drop a bit because I remember how high it was just a moment earlier. My strength is I have diamond hand capabilities. My weakness is greed where I don't want to capitulate unrealized ATH gains. I have been able to break that trend though once or twice and did end up with a bigger bag.

The other thing that keeps me from trading a ton are the tax implications. Perhaps I should trade on a decentralized exchange and then just send all my gains to a regulated exchange? It would simplify taxes I think.

[obsidian]

So you shorted? lol

No he bought BTC @ $5,000.

[Bindare_Dundat]

No he bought BTC @ $5,000.

i know brother, I was joking with him in regards to his quote.

sure, Ill send you a pm in a bit.

[obsidian]

https://cointelegraph.com/news/ethereum-breaks-out-vs-bitcoin-why-one-trader-says-eth-btc-looks-absolutely-insane

Ether (ETH) price is seeing green in its Bitcoin (BTC) pair on April 21, reaching the highest levels since early February. Given the technical breakout of ETH/BTC, traders are beginning to expect a strong rally in the foreseeable future.

During the first two weeks of April, ETH was outperformed by Binance Coin (BNB), the native token of Binance Smart Chain.

The high transaction fees on Ethereum coupled with the high user activity on Binance Smart Chain led BNB to gain momentum against Ether.

However, in the past few days, ETH price has started to rally against both Bitcoin and BNB, the first and third largest cryptocurrencies in the global market, respectively.

Why is ETH rallying against Bitcoin?

In the past 24 hours, led by Ether, the altcoin market gained against Bitcoin, causing the Bitcoin Dominance Index to fall to 50.7% on CoinMarketCap, the lowest level since summer 2018.

One main reason why the altcoin market is rallying is because altcoins generally saw sharper drops than BTC following the Coinbase listing.

Hence, when Bitcoin began to consolidate and stabilize, altcoins started to see a relief rally, led by Ethereum and BNB's momentum.

After the futures market recovered, following over $10 billion worth of liquidations on a single day, the appetite for risk-on assets within crypto also likely rose.

This drove the demand for Ethereum, BNB, Dogecoin (DOGE), and many other cryptocurrencies with relatively high volume and valuation.

In the near term, traders say that the breakout of the ETH/BTC pair could lead to a broader parabolic rally, particularly for altcoins.

A pseudonymous trader known as "Crypto Capo" expressed optimism towards ETH's breakout against BTC. He said:

"$ETH/BTC is going to redefine the concept of parabolic."

Similarly, a cryptocurrency derivatives trader NekoZ said that ETH is showing strong momentum, which would likely spill over to altcoins.

The trader noted:

"Love the reaction we are having so far. Should carry nicely into the week and build momentum around alts."

Another respected cryptocurrency derivatives trader known as "Bluntz" said that ETH/BTC looks "insane" after a massive capitulation event.

A capitulation event refers to a scenario when an asset's price bottoms out after a sharp drop.

Bluntz emphasized that ETH is demonstrating a double bottom chart, which in technical analysis often points toward a short-term trend reversal.

He wrote:

"ETH double bottom on 4h, and ETH/BTC looks absolutely insane again. Wow that was the greatest capitulation event I can remember for a long time. Even i capitulated most of my lev trades."

On-chain data is also bullish

According to the data from CryptoQuant, the amount of ETH being staked in the Ethereum 2.0 deposit contract is rising.

This decreases the circulating supply of ETH on exchanges, which should put upward pressure on the price of ETH.

The increase in fees, which is verifiable through on-chain data, also indicates that activity continues to rise on Ethereum despite the already high fees.

Aftab Hossain, an Ethereum and investor, said:

"Ethereum / DeFi has focused heavily on infrastructure, which BSC was able to copy and centralize to make it faster with an incentive to focus on integrated UX i think cheaper L2 tx's will enable for greater scaling and will allow for critical smart contract wallet innovation."

Binance Smart Chain and other layer ones have been performing strongly against Ethereum, but the release of Eth2 and layer two solutions could make Ethereum more compelling for casual users in the months to come.

[obsidian]

For sure, I’ve think we’ve got at least one good run left. Either way, if it looks like things are really tanking I will be moving into stablecoins, and then be able to buy more cheaper at a later date.

What's the advantage of using stablecoins instead of USD on an exchange? On Binance for example you can sell into USD or Tether. I have been going the USD route in past trades. The fees did not seem that high. I know stablecoins offer better interest rates but if you are only going to wait a few weeks or months the interest payouts won't be that much.

[Bindare_Dundat]

What's the advantage of using stablecoins instead of USD on an exchange? On Binance for example you can sell into USD or Tether. I have been going the USD route in past trades. The fees did not seem that high. I know stablecoins offer better interest rates but if you are only going to wait a few weeks or months the interest payouts won't be that much.

I go into USDT when I'm done my trading to keep the value from fluctuating with BTC. Upside is i dont lose anything when btc drops, downside is I lose gains when btc goes up. Thats why its wise to get into usdt when shit is going retarded like the last few days and you dont want to risk a correction or huge dump

When youre ready to trade again you can swap out usdt for btc again. I usually tether all my gains from the trade for future use or to cash out to enjoy the profits

Yeah, use an exchange that isnt KYC.

[Bindare_Dundat]

Would be nice if these whales would make a decision as to where this is going. Stuck at 52.6, 52.7,  like glue atm. 

Yes!

Woohoo, up 68% can i get to 100%?

[Bindare_Dundat]

i think were going to hover around this 54k range for a while before correcting, this was way too fast and large a rally imo. I would not fomo into this. Take profit or set your stop loss. a retrace back to 51k area is a real possibility.

[obsidian]

i think were going to hover around this 54k range for a while before correcting, this was way too fast and large a rally imo. I would not fomo into this. Take profit or set your stop loss. a retrace back to 51k area is a real possibility.

Dogecorn to the moon!

[obsidian]

I go into USDT when I'm done my trading to keep the value from fluctuating with BTC. Upside is i dont lose anything when btc drops, downside is I lose gains when btc goes up. Thats why its wise to get into usdt when shit is going retarded like the last few days and you dont want to risk a correction or huge dump

When youre ready to trade again you can swap out usdt for btc again. I usually tether all my gains from the trade for future use or to cash out to enjoy the profits

Yeah, use an exchange that isnt KYC.

USDT is pegged to the USD. So you would get the same effect regardless which one you use. I am still trying to figure out what the difference if as far as trading goes.

[Bindare_Dundat]

USDT is pegged to the USD. So you would get the same effect regardless which one you use. I am still trying to figure out what the difference if as far as trading goes.

yah sorry, still trading and am super tired. lol

I think there is a slight price difference between USD AND USDT when trading. i think youd be earning slightly less if your longing and profitable.  although i never use the USDT pair so im not 100% sure.

i need some sleep.

[polychronopolous]

Camping World Begins Accepting Bitcoin for RV Purchases

Recreational vehicle retailer Camping World Holdings (NYSE:CWH) says people can now purchase an RV using cryptocurrencies.

In an arrangement with cryptocurrency payment service provider BitPay, Camping World will begin accepting Bitcoin, Ethereum, and other select cryptocurrencies using various digital wallets. The program will launch at two dealerships initially, but will soon be available at all Camping World dealerships and on its e-commerce platform.

Camping World was something of a surprise play on the COVID-19 pandemic as RV sales soared as people sought to escape to the great outdoors while the country was locked down. Revenue soared 11% in 2020 to $5.4 billion while profits soared 32% to $1.7 billion from the year-ago period as it grew active customers to over 5.3 million.

Cryptocurrencies also rocketed higher with Bitcoin rising from around $7,600 a year ago to almost $54,000 today, having recently hit a high of over $63,000. Ethereum went from $195 last year to $2,500 today.

Acceptance of cryptocurrencies as a valid substitute for cash continues to expand.

"As the industry leader, we have a responsibility to adapt to new preferences and elevate the customer experience, whether through the products and services we offer, or in the ways we interact and transact with the customer," Camping World chairman and CEO Marcus Lemonis said. "Accepting cryptocurrency is simply another part of our vision to make RVing easy in an increasingly digital world."

https://www.fool.com/investing/2021/04/26/camping-world-begins-accepting-bitcoin-for-rv-purc/

[Mayday]

One last dip to 32k and we should be ready for a rally up! 

[Bindare_Dundat]

One last dip to 32k and we should be ready for a rally up! 

I heard it was 20k.

Its rumored Tesla sold over 200M in BTC. Lots of channels talking about it now with the usual musings. 

[Mayday]

I heard it was 20k.

Its rumored Tesla sold over 200M in BTC. Lots of channels talking about it now with the usual musings.

Tesla rebalanced their treasury which is normal.

There are certain regulations around income from assets and so forth. I’m not totally across the US stuff but generally wherever your income stream comes from classifies your business which is why their Treasury balances according to performance to ensure nothing gets out of whack.

It works well for a Tesla because they have plenty of coins to fuel the future. That’s why Saylor tells business to buy BTC now as it effectively pays your debt off and funds future operations.

[gib]

Tesla rebalanced their treasury which is normal.

There are certain regulations around income from assets and so forth. I’m not totally across the US stuff but generally wherever your income stream comes from classifies your business which is why their Treasury balances according to performance to ensure nothing gets out of whack.

It works well for a Tesla because they have plenty of coins to fuel the future. That’s why Saylor tells business to buy BTC now as it effectively pays your debt off and funds future operations.

Yes, correct. Also, it might well be that when the valuation increases you have to sell under your allocation mandate. So, if the board of Tesla authorised a 10% cash allocation to BTC, and that valuation gets to 15%, you would need to sell off 5%. Same with hedge funds which might have a mandated limit on exposure to any one asset.

[Mayday]

Q

[polychronopolous]

Capitulation.


JP Morgan Launches Bitcoin Fund For Rich Clients After Years Of Bashing Crypto


Ever since JP Morgan CEO Jamie Dimon first denounced bitcoin waaaaay back during the heady crypto-rally of 2017 (shortly before we revealed that JP Morgan's asset-management arm was seemingly buying the dip on behalf of its wealthy clients via a Scandinavian ETN), teams of strategists employed by the bank have produced a steady stream of bearish reports warning its clients about the risks of investing in bitcoin.


But in a sudden reversal, JPMorgan's traders - once threatened with firing should they dare touch bitcoin - will soon get their chance to trade the pioneering cryptocurrency on the bank's behalf. In news that's hitting just as bitcoin prices climb back from a Sunday dip, CoinDesk reported Monday morning that JP Morgan Chase will soon launch its own actively managed bitcoin fund, making JPM the latest US megabank to embrace hawking crypto assets (rather than struggling to co-opt blockchain technology for its own purposes).

 The fund, which could launch as soon as this summer, will reportedly involve institutional ship NYDIG, which will serve as JPM's bitcoin custody provider. In a notable break from other passively managed bitcoin funds offered by Galaxy Digital and Grayscale, JPM's crypto fund will be "actively managed" (allowing the bank to charge higher fees).



Like those other funds, the JP Morgan fund will allow institutions and wealthy clients to buy exposure to bitcoin without actually having to buy, store and secure their own coins. The fund will be offered to the bank's "private wealth" clients, which mostly caters to wealthy individuals and family offices.

JPM has come close to offering bitcoin-linked products before. Back in March, its investment bank issued its first crypto-adjacent investment product, a structured note tied to the performance of bitcoin proxy stocks like MicroStrategy and Riot Blockchain.

Now that the bank has been exposed for quietly accumulating its own bitcoin position, we couldn't help but notice that JPM - which was bashing bitcoin as recently on Friday - hasn't published a new note arguing that downward momentum might reemerge. Dimon infamously warned that he would "fire in a second" any JPM trader who touched bitcoin. "If you’re stupid enough to buy it, you’ll pay the price for it one day," he said at the time. Though Dimon quickly walked back these comments at the time, we would love to hear JPM explain away these comments while pitching its new bitcoin product to some of its most lucrative private clients.

https://www.zerohedge.com/crypto/jp-morgan-launches-bitcoin-fund-rich-clients-after-years-bashing-crypto

[gib]

The CEO of PayPal predicted that in the next five to 10 years, there will be many changes in the financial system, compared to the last two decades.
He also noted that the demand for cryptocurrencies exceeded PayPal's initial expectations after the company began cryptocurrency transactions in late 2020.
Demand for cryptocurrencies has been several times higher than we initially expected," PayPal CEO and CEO Dan Schulman told Time magazine in an interview with Time magazine on Sunday. There is a lot of excitement."
Existing financial infrastructure needs to be modernized, Schulman said. This system is inefficient today due to the high cost and slowness of international transactions. The CEO predicted that the financial system would be ready to see more change in the next five to 10 years than in the past two decades.
"In the next ten years, you will see a dramatic decline in cash use," he said. All payment invoices are included in the mobile phone. Credit cards will disappear as a payment invoice and you will use your mobile phone. Because mobile phones can add a lot more value than just tapping on your credit card. "
As people stop using paper money, central banks need to reconsider their monetary policy, Schulman said. The central bank said digital currencies could benefit from emerging technologies such as distributed head office. "But they are essentially digitizing Fiat currency, like the US dollar," Schulman noted.
PayPal announced its plans to introduce the ability to buy, hold and sell a number of cryptocurrencies, including Bitcoin (BTC) and (ETH), in October 2020. When the new feature launched in the United States in mid-November 2020, bitcoin was trading at around $ 16,000. After that, the world's largest cryptocurrency faced a massive rally, pushing its price to a new all-time high of more than $ 64,000 in April.
Amid rising prices and demand for cryptocurrencies, PayPal continued to expand its cryptographic services to customers, launching its cryptographic exit services in late March to enable traders to pay. Last week, PayPal introduced the Venmo payment platform for cryptocurrencies for four popular cryptocurrencies, including Bitcoin, LightCoin and BitcoinCash.

Source: https://cointelegraph.com/news/demand-for-paypal-s-crypto-offering-exceeded-all-expectations-ceo-says

[El Diablo Blanco]

The CEO of PayPal predicted that in the next five to 10 years, there will be many changes in the financial system, compared to the last two decades.
He also noted that the demand for cryptocurrencies exceeded PayPal's initial expectations after the company began cryptocurrency transactions in late 2020.
Demand for cryptocurrencies has been several times higher than we initially expected," PayPal CEO and CEO Dan Schulman told Time magazine in an interview with Time magazine on Sunday. There is a lot of excitement."
Existing financial infrastructure needs to be modernized, Schulman said. This system is inefficient today due to the high cost and slowness of international transactions. The CEO predicted that the financial system would be ready to see more change in the next five to 10 years than in the past two decades.
"In the next ten years, you will see a dramatic decline in cash use," he said. All payment invoices are included in the mobile phone. Credit cards will disappear as a payment invoice and you will use your mobile phone. Because mobile phones can add a lot more value than just tapping on your credit card. "
As people stop using paper money, central banks need to reconsider their monetary policy, Schulman said. The central bank said digital currencies could benefit from emerging technologies such as distributed head office. "But they are essentially digitizing Fiat currency, like the US dollar," Schulman noted.
PayPal announced its plans to introduce the ability to buy, hold and sell a number of cryptocurrencies, including Bitcoin (BTC) and (ETH), in October 2020. When the new feature launched in the United States in mid-November 2020, bitcoin was trading at around $ 16,000. After that, the world's largest cryptocurrency faced a massive rally, pushing its price to a new all-time high of more than $ 64,000 in April.
Amid rising prices and demand for cryptocurrencies, PayPal continued to expand its cryptographic services to customers, launching its cryptographic exit services in late March to enable traders to pay. Last week, PayPal introduced the Venmo payment platform for cryptocurrencies for four popular cryptocurrencies, including Bitcoin, LightCoin and BitcoinCash.

Source: https://cointelegraph.com/news/demand-for-paypal-s-crypto-offering-exceeded-all-expectations-ceo-says

Wow, the CEO of PayPal pushing for a future with no cash use.  Hmmm, seems like he has another motive to push a service that is cashless.  Wonder what that could be? Oh yea, Paypal.

[Griffith]

https://u.today/ether-his-new-all-time-high-as-european-unions-bank-chooses-ethereum-to-issue-2-year-bonds

Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds

The European Investment Bank will issue 2-year bonds on the Ethereum blockchain

The European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing 2-year bonds due Apr. 28, 2023, on the Ethereum blockchain, Bloomberg reports.     

Their issuance will be managed by such banking giants as Goldman Sachs, Santander Group, and Societe Generale.

Founded in 1958, the European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders. 

Societe Generale issued its first bond on the Ethereum blockchain to itself back in April 2019 in order to trial the technology. Santander also redeemed its own $20 million bond in December 2019 to show that Ethereum is applicable for debt security management.           

Ether, the native token of the Ethereum network, hit a new all-time high of $2,683 at 4:02 p.m. UTC on the Bitstamp exchange. Ether is up over 270 percent in 2021. 

[gib]

https://u.today/ether-his-new-all-time-high-as-european-unions-bank-chooses-ethereum-to-issue-2-year-bonds

Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds

The European Investment Bank will issue 2-year bonds on the Ethereum blockchain

The European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing 2-year bonds due Apr. 28, 2023, on the Ethereum blockchain, Bloomberg reports.     

Their issuance will be managed by such banking giants as Goldman Sachs, Santander Group, and Societe Generale.

Founded in 1958, the European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders. 

Societe Generale issued its first bond on the Ethereum blockchain to itself back in April 2019 in order to trial the technology. Santander also redeemed its own $20 million bond in December 2019 to show that Ethereum is applicable for debt security management.           

Ether, the native token of the Ethereum network, hit a new all-time high of $2,683 at 4:02 p.m. UTC on the Bitstamp exchange. Ether is up over 270 percent in 2021.

Wow that's quite an endorsement.

[Flexacon]

Wow that's quite an endorsement.

Still not too late to buy some ethereum. It might be the Pepsi to bitcoins Coke right now, but look how it performed when bitcoin took a recent dump. We also already know if bitcoin bulls so will eth. Now don't forget about eth2.0. If that succeeds it's only gonna rocket!