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

[BossBoss]

Boo Hoo Doggie seems to have done a doo doo.

Yes, you all DOGE lovers got scammed and prank by musk.

Lesson learned I hope.

Doge will hit 1$ soon.

I printed your post and put it on my wall..

First they ignore you, then they laugh at you, then they fight you, then you win.

[Flexacon]

Doge will hit 1$ soon.

I printed your post and put it on my wall..

First they ignore you, then they laugh at you, then they fight you, then you win.

Hopefully you get something out of your loyalty to Doge, but Doge won't be winning anything.

It will get pumped and dumped until bag holders go broke or leave Doge. Meanwhile most of those who cash in will eventually just reinvest in Bitcoin and Eth.

[Bindare_Dundat]

Think it could test 59k again today.

I may have to eat my words. Lol will it be able to squeeze out enough to get to 59k in the next 6 hrs?

[Mayday]

The dollar has been collapsing for decades. What was the buying power of the dollar 50 years ago compared to today? When I say the dollar is collapsing I mean the buying power reduces as time goes on.

Things are more expensive across the board. And not just the USA but Australia, UK etc. They are blaming Covid for this but perhaps this is the new normal. Banks also offer pathetic savings interest rates. You can't leave dollars in a bank account because it loses value and does not earn any significant interest, certainly less than the inflation rate. That's why Max Keiser is saying cash is trash. So why would people exit the crypto market causing a collapse of the prices when cash is trash?

Cheers for clarifying what you mean by collapsing (devaluation). The fundamental nature of our monetary system is growth = inflation of prices which you get by devaluation of currency and debt.

Absolutely cash is trash right now because QE is stuck in banks and the wealthy and it’s buying up financial assets. Your wages haven’t increased yet your property just flew up 30%. I have a stack of posts about how that functions on here.

You need to remember the entire USD monetary system is leveraged 25x. THAT is the problem which you are forgetting. Debt is a zero sum game because it nets out to zero (asset & liability). Of The money you see in the system, only 4% of it is real which is why the govts shit themselves over a market crash because when it unwinds it causes a liquidity crises at the speed of computers.

We did not allow a reset post GFC. We did not allow a reset post pandemic. So now we have stock valuations at 70x earning instead of 10x. Loss of confidence = liquidity crises = deflationary spiral = Prices fall = hyperinflation outcome.

If Bitcoin was $100 and all debt unwound the price of Bitcoin is $4. Crypto pricing is part of the fiat system and bound to the same rules and risks. If I walk up to you and offer you 0.00000001 BTC for your house you have NFI whether that is a good deal or not unless you convert into fiat value. That’s the reality, not the narrative.

When BTC taps 200k+ in the next few months it is by design (reality), not the narrative. The peak of 2017 you held and everybody dumped. You bought the narrative. In a few months time at 200K+ it will dump. If you hold it’s because you bought the narrative.

Don’t kid yourself the downswing on crypto after the parabolic run is going to melt faces off people
While you scream diamond 🙌

[gib]

Yeah, cos only Americans buy crypto

LOL! Great point.

[gib]

Hopefully you get something out of your loyalty to Doge, but Doge won't be winning anything.

It will get pumped and dumped until bag holders go broke or leave Doge. Meanwhile most of those who cash in will eventually just reinvest in Bitcoin and Eth.

Correct. All the alt pump and dumpsters each cycle ultimately unload leaving suckers holding the bag. But they stay primarily in the crypto ecosystem and use BTC as their benchmark of wealth as well as a long term store of wealth. Happens every cycle...

Meanwhile, those burned on alts swear "never again" only to dip their toes back into the market again next cycle, only this time they play it safer and stick to BTC - lesson learned...

[Griffith]

Cheers for clarifying what you mean by collapsing (devaluation). The fundamental nature of our monetary system is growth = inflation of prices which you get by devaluation of currency and debt.

Absolutely cash is trash right now because QE is stuck in banks and the wealthy and it’s buying up financial assets. Your wages haven’t increased yet your property just flew up 30%. I have a stack of posts about how that functions on here.

You need to remember the entire USD monetary system is leveraged 25x. THAT is the problem which you are forgetting. Debt is a zero sum game because it nets out to zero (asset & liability). Of The money you see in the system, only 4% of it is real which is why the govts shit themselves over a market crash because when it unwinds it causes a liquidity crises at the speed of computers.

We did not allow a reset post GFC. We did not allow a reset post pandemic. So now we have stock valuations at 70x earning instead of 10x. Loss of confidence = liquidity crises = deflationary spiral = Prices fall = hyperinflation outcome.

If Bitcoin was $100 and all debt unwound the price of Bitcoin is $4. Crypto pricing is part of the fiat system and bound to the same rules and risks. If I walk up to you and offer you 0.00000001 BTC for your house you have NFI whether that is a good deal or not unless you convert into fiat value. That’s the reality, not the narrative.

When BTC taps 200k+ in the next few months it is by design (reality), not the narrative. The peak of 2017 you held and everybody dumped. You bought the narrative. In a few months time at 200K+ it will dump. If you hold it’s because you bought the narrative.

Don’t kid yourself the downswing on crypto after the parabolic run is going to melt faces off people
While you scream diamond 🙌

How long do you think we have left in this bull run?

[Mayday]

How long do you think we have left in this bull run?

Im probably calling it earlier than anyone.

ETH June (approx 5-6 weeks)

BTC July (approx 9-10 weeks)

Back on the 5th I called an ETH target of 4,200 for the 10th May and it’s damn close.

As for the rest of it..... well I’m somewhat perplexed at why BTC still hasn’t done anything. I’d like 80k this month.

[Bindare_Dundat]

Im probably calling it earlier than anyone.

ETH June (approx 5-6 weeks)

BTC July (approx 9-10 weeks)

Back on the 5th I called an ETH target of 4,200 for the 10th May and it’s damn close.

As for the rest of it..... well I’m somewhat perplexed at why BTC still hasn’t done anything. I’d like 80k this month.

I believe one of the reasons BTC isnt that high is because just about every prominent youtube channel is spreading the same message of the last bull market cycle and that is,  money is going to go into the large mid cap coins and then it'll go into lower cap coins and eventually circle back into Ethereum and BTC toward the end of the cycle.  The same chart is shown on all of the channels. Viewers follow along.

 A few times  I watched Banter Crypto and AS SOON as they mention the next alt coin to move, it starts pumping. Its amusing as hell and Ill admit  I jumped in once and got out 2 days later and made some good gains. After that, it typically starts going down quicker and quicker every following day.

That one channel has over 15,000 viewers on a live stream. its incredible.

Also, the majority of retail don't know that you can buy a fraction of a bitcoin, so they just go down the list and pick a cheaper priced and cool looking token or whatever is hot in the news at that particular time.


Regarding your June prediction, isnt some big Ethereum news supposed to come out in July? Maybe that will actually pump and extend the market even more in anticipation?

[Bindare_Dundat]

Correct. All the alt pump and dumpsters each cycle ultimately unload leaving suckers holding the bag. But they stay primarily in the crypto ecosystem and use BTC as their benchmark of wealth as well as a long term store of wealth. Happens every cycle...

Meanwhile, those burned on alts swear "never again" only to dip their toes back into the market again next cycle, only this time they play it safer and stick to BTC - lesson learned...

There will be some alts that will survive a crash and head into the next bull run.

Polkadot, Chainlink, Cardano, Theata, VeChain, etc.. they have utility. They arent going away any time soon.  Alot of f the other alts will get nuked.

[Mayday]

I believe one of the reasons BTC isnt that high is because just about every prominent youtube channel is spreading the same message of the last bull market cycle and that is,  money is going to go into the large mid cap coins and then it'll go into lower cap coins and eventually circle back into Ethereum and BTC toward the end of the cycle.  The same chart is shown on all of the channels. Viewers follow along.

 A few times  I watched Banter Crypto and AS SOON as they mention the next alt coin to move, it starts pumping. Its amusing as hell and Ill admit  I jumped in once and got out 2 days later and made some good gains. After that, it typically starts going down quicker and quicker every following day.

That one channel has over 15,000 viewers on a live stream. its incredible.

Also, the majority of retail don't know that you can buy a fraction of a bitcoin, so they just go down the list and pick a cheaper priced and cool looking token or whatever is hot in the news at that particular time.


Regarding your June prediction, isnt some big Ethereum news supposed to come out in July? Maybe that will actually pump and extend the market even more in anticipation?

Your top point is a fair comment but I’d argue over a timeline the capital will flow into BTC and ETH therefore won’t influence the outcome. As people get burned in alts they will come to BTC and ETH. You only hear the success stories, nobody posts about getting wreckt.

The major Social media BTC people are driving the ‘Sats’ narrative which is expected and I think a very good initiative to show new markets buyers they can afford Sats.

Your last point is the 1559 protocol Starting mid July. No, I don’t think it extends anything. No, I don’t think that is what is the core driving factor in the ETH rally.

I expect a BTC breakout is imminent.

[Bindare_Dundat]

As people get burned in alts they will come to BTC and ETH. You only hear the success stories, nobody posts about getting wreckt.

I thnk theres the potential DOGE will contribute to cryptos overall short term price drop. It is ranked 4th in market cap, that money isnt going to stay on a sinking ship. The retail bandwagoners will pull out and never look at crypto again and eventually the remaining whales will either buy BTC and ETH or leave crypto themselves filthy rich.

[obsidian]

Your top point is a fair comment but I’d argue over a timeline the capital will flow into BTC and ETH therefore won’t influence the outcome. As people get burned in alts they will come to BTC and ETH. You only hear the success stories, nobody posts about getting wreckt.

The major Social media BTC people are driving the ‘Sats’ narrative which is expected and I think a very good initiative to show new markets buyers they can afford Sats.

Your last point is the 1559 protocol Starting mid July. No, I don’t think it extends anything. No, I don’t think that is what is the core driving factor in the ETH rally.

I expect a BTC breakout is imminent.

Speaking for myself I have staked a significant amount of Ethereum and earning 6% APR on it. I can't touch it till Ethereum 2.0 is done. And I am fine with that. I don't care if the market corrects 50% or more. I am holding it long term. In 2018 we did not have staking in the equation. There's a lot of Ethereum and Cardano staked which removes the tokens from circulation. Then with Bitcoin you have a number of investors that have diamond hands. A guy like Michael Saylor is not going to sell his BTC even if it crashes 50% or more because he does not want to pay any capital gains taxes. He has said in some interviews that he has already priced in market corrections.

One thing I will do is send some small amount of crypto to a decentralized exchange and start playing with it to see if I can trade up to a bigger position with that. Guys like Bitboy also do that. They don't expose their entire portfolio to trading. His approach is to make a little here, a little there until it all eventually adds up.

And I am going to cash out anywhere from $100k-200k at some point this year. I'll pay taxes on that. I will be able to deduct my electrical and equipment expenses etc. which is over $50k at this point. I also bought some cryptos in 2017 with cash which will reduce my capital gains tax. One thing most should try and avoid in the USA is to have more than $400,000 in capital gains unless you like paying taxes.

[obsidian]

I thnk theres the potential DOGE will contribute to cryptos overall short term price drop. It is ranked 4th in market cap, that money isnt going to stay on a sinking ship. The retail bandwagoners will pull out and never look at crypto again and eventually the remaining whales will either buy BTC and ETH or leave crypto themselves filthy rich.

I don't think Doge is going away. It it sitting above 50 cents which is not bad - still top 5 even after a big correction. I see Doge hitting $1 at some point this year.

Musk tweeted this 12 hours ago after his SNL appearance:

https://twitter.com/elonmusk/status/1391523807148527620?s=20

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!

[Bindare_Dundat]

I don't think Doge is going away. It it sitting above 50 cents which is not bad - still top 5 even after a big correction. I see Doge hitting $1 at some point this year.

Musk tweeted this 12 hours ago after his SNL appearance:

https://twitter.com/elonmusk/status/1391523807148527620?s=20

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!

i think people are tired of Elons crap. And thats only 2x from here.  Not worth the risk. Better off putting that money into polkadot or cardano

[gib]

All those who support BTC need to get behind the SATS push:

https://u.today/mike-novogratz-urges-exchanges-to-switch-to-sats-as-bitcoin-becomes-too-expensive

[El Diablo Blanco]

i think people are tired of Elons crap. And thats only 2x from here.  Not worth the risk. Better off putting that money into polkadot or cardano

I never realized how awkward Elon was until I saw the SNL show. Shit.  He better stick to Twitter since at least then we can understand him.

Now for people calling Doge dead etc...  This went from .005 to .70 and now sitting at .50. .  Fuck.  That is a massive gain.  It is alive and well.

[IroNat]

I never realized how awkward Elon was until I saw the SNL show. Shit.  He better stick to Twitter since at least then we can understand him.

Now for people calling Doge dead etc...  This went from .005 to .70 and now sitting at .50. .  Fuck.  That is a massive gain.  It is alive and well.

Elon reads a teleprompter a lot better than Joe Biden.

[Bindare_Dundat]

Anyone who has the slightest understanding and believes in Elliot wave theory is looking at ethereums move up and is shaking their head. That impulse wave up is screaming for a massive correction.

I still own some eth and the gains are glorious but this is ridiculous. Wonder how many who fomo'd in are going to stick around when this finally decides to do wave #2, the wave that heads down.

It always occurs. Ethereum isn't some exception.

[Bindare_Dundat]

I never realized how awkward Elon was until I saw the SNL show. Shit.  He better stick to Twitter since at least then we can understand him.

Now for people calling Doge dead etc...  This went from .005 to .70 and now sitting at .50. .  Fuck.  That is a massive gain.  It is alive and well.

Its only cause Elon can't stop tweeting and the general public is dense as hell and continues to put their fingers in the rat trap. Eventually they'll all flock to the next flavor of the day. Give it time.

[Bindare_Dundat]

Speaking for myself I have staked a significant amount of Ethereum and earning 6% APR on it. I can't touch it till Ethereum 2.0 is done. And I am fine with that. I don't care if the market corrects 50% or more. I am holding it long term. In 2018 we did not have staking in the equation. There's a lot of Ethereum and Cardano staked which removes the tokens from circulation. Then with Bitcoin you have a number of investors that have diamond hands. A guy like Michael Saylor is not going to sell his BTC even if it crashes 50% or more because he does not want to pay any capital gains taxes. He has said in some interviews that he has already priced in market corrections.

One thing I will do is send some small amount of crypto to a decentralized exchange and start playing with it to see if I can trade up to a bigger position with that. Guys like Bitboy also do that. They don't expose their entire portfolio to trading. His approach is to make a little here, a little there until it all eventually adds up.

And I am going to cash out anywhere from $100k-200k at some point this year. I'll pay taxes on that. I will be able to deduct my electrical and equipment expenses etc. which is over $50k at this point. I also bought some cryptos in 2017 with cash which will reduce my capital gains tax. One thing most should try and avoid in the USA is to have more than $400,000 in capital gains unless you like paying taxes.

Bitbiy trades with 25x leverage at times. Give it a try. 

[Bindare_Dundat]

Wonder how many people just got crushed.

Here comes the pain

[Bindare_Dundat]

Fucking brutal

[obsidian]

[obsidian]

Wonder how many people just got crushed.

Here comes the pain

OMG relax. There are going to be corrections. This is par for the course with cryptos.