Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 1130306 times)

Flexacon · « **Reply #6650 on:** May 18, 2021, 11:41:35 AM »

Quote from: French on May 18, 2021, 04:56:01 AM

MATIC and ADA FTW.
Like DOT, they will go over 30$

Both good cryptos, but No.

Ada at over $30 would give it a bigger market cap than bitcoin. Just getting to $10 would be huge.

Matic is far more limited.

FitnessFrenzy · « **Reply #6651 on:** May 18, 2021, 12:15:31 PM »

$42,694.63

OneMoreRep · « **Reply #6652 on:** May 18, 2021, 12:57:34 PM »

Quote from: Flexacon on May 18, 2021, 11:41:35 AM

Both good cryptos, but No.

Ada at over $30 would give it a bigger market cap than bitcoin. Just getting to $10 would be huge.

Matic is far more limited.

I think ADA will break $30 for sure, but it will take time.

Brother, we know Bitcoin is the benchmark, but your estimate is assuming the crypto ecosystem will never break the $2 Trillion+ mark.

A few posts back, I even mentioned that based on ADAs circulating supply and current price based on its market cap, IF pegged off of Bitcoin will at its BEST see between $30-$32. That said, with the speed in which inflation could hit and with a loss of faith in the USD, I think we can see a massive influx of both institutional and retail money into the crypto ecosystem. If that happens, just like Bitboy mentioned in his most recent video discussing ADA, we could see a $50-$100 ADA. I agree with him on that. Cardano is aiming to incorporate itself with the entire continent of Africa. I look at it as a long game and I think it's one of the few altcoins (now becoming more like a stable coin) that could reach those heights. I don't ever think it will reach BTC or ETH levels, as its circulating supply is way too high, but it can certainly break $30-$35 in the next 2-5 years and upwards of that in the 5-10 year frame mark.

If you figure it otherwise, let me know your rationale.

"1"

Mayday · « **Reply #6653 on:** May 18, 2021, 01:59:34 PM »

MATIC is in overheated territory, just be careful if you want to YOLO in now as that RSI never lives long above 95 on the weekly.

Early this morning I got a strong buy signal triggered for ETH and many of the alts. These signals show up rarely and are at the bottom prior to a large upswing. YOLO ETH!!!

This is where Obsidian overtakes gib as the resident crypto overlord

Flexacon · « **Reply #6654 on:** May 18, 2021, 02:27:11 PM »

Quote from: OneMoreRep on May 18, 2021, 12:57:34 PM

I think ADA will break $30 for sure, but it will take time.

Brother, we know Bitcoin is the benchmark, but your estimate is assuming the crypto ecosystem will never break the $2 Trillion+ mark.

A few posts back, I even mentioned that based on ADAs circulating supply and current price based on its market cap, IF pegged off of Bitcoin will at its BEST see between $30-$32. That said, with the speed in which inflation could hit and with a loss of faith in the USD, I think we can see a massive influx of both institutional and retail money into the crypto ecosystem. If that happens, just like Bitboy mentioned in his most recent video discussing ADA, we could see a $50-$100 ADA. I agree with him on that. Cardano is aiming to incorporate itself with the entire continent of Africa. I look at it as a long game and I think it's one of the few altcoins (now becoming more like a stable coin) that could reach those heights. I don't ever think it will reach BTC or ETH levels, as its circulating supply is way too high, but it can certainly break $30-$35 in the next 2-5 years and upwards of that in the 5-10 year frame mark.

If you figure it otherwise, let me know your rationale.

"1"

DOT went from $2 to $30 in less than 6 months. For ADA to do the same thing in 6 months without the rest of the market moving would give us a $3trillion market cap.

Let's say we get x15 ADA from here and the rest of the coins only x2. That's a market cap of $5T. If the rest of coins x3, market cap of $7T.

For ADA to get to $30 the rest of the market needs to stay in a slump for all of 2021 and it needs an influx of mega money. I don't see that happening and that's basically my rationale.

Also the ATH ADA/bitcoin value was near the initial coin offering of ADA and that's when it's most susceptible to hype and movement doesn't require a lot of money. If ever that value was gonna be skewed, it's then.

Don't get too caught up in this phenomenon of how well an altcoin is pumping when bitcoin is in a slump. It's is nothing new and it's been part of the cycle for years now. It nearly always corrects itself and it's why I've been saying the money will funnel up to the top coins in every other post. Do however enjoy the gains.

polychronopolous · « **Reply #6655 on:** May 18, 2021, 03:03:01 PM »

MicroStrategy buys the dip, acquires $10M in Bitcoin

Business intelligence firm MicroStrategy has scooped up another $10 million worth of Bitcoin (BTC), signaling the company’s relentless conviction in the digital asset amid the latest price collapse.

The cash amount earned MicroStrategy 229 BTC at an average price of $43,663, the company confirmed Tuesday in a Form 8-K filing with the United States Securities and Exchange Commission. The acquisition came just five days after the business intelligence firm purchased 271 BTC for an average price of $55,387.

CEO Michael Saylor, an outspoken supporter of Bitcoin, also disclosed the purchase on Twitter.

MicroStrategy has been accumulating BTC since last summer, even going as far as raising debt to finance additional purchases. The company now has 92,079 BTC on its books, which is equivalent to $2.251 billion at the time of publication.

In terms of corporate whales, no other publicly traded company comes close to matching MicroStrategy’s BTC play. The company owns 4.38% of Bitcoin’s total circulating supply, according to the latest industry figures.

The price of Bitcoin has corrected nearly 23% over the past seven days, bringing its value back to around $43,000. The leading digital currency has been under pressure from a confluence of negative headlines and technical indicators suggesting that it may have hit a local top of $64,000 last month.

Despite the recent volatility, institutions have upped their BTC purchases over the past 30 days. Data from Bitcoin Treasuries shows that institutions have accumulated 215,000 BTC over the period, highlighting a growing conviction from the so-called "smart money" class.

As Cointelegraph recently reported, the recent outflows of BTC on Coinbase also suggest that investors are willing to hold the digital asset for longer periods.

https://cointelegraph.com/news/microstrategy-buys-the-dip-acquires-10m-in-bitcoin

Mayday · « **Reply #6656 on:** May 18, 2021, 04:46:32 PM »

Right now for any noobs looking at crypto, why would they buy BTC?

<Keeping in mind this alt run will be short lived>

I’m not sure what will mentally damage btc maxis more, a somewhat harmless Elon tweet or that new people will enter and make eye watering gains on alts.

polychronopolous · « **Reply #6657 on:** May 18, 2021, 05:18:49 PM »

Quote from: Mayday on May 18, 2021, 04:46:32 PM

Right now for any noobs looking at crypto, why would they buy BTC?

<Keeping in mind this alt run will be short lived>

I’m not sure what will mentally damage btc maxis more, a somewhat harmless Elon tweet or that new people will enter and make eye watering gains on alts.

So, life savings into Tron??

I heard some really awesome things about EOS.

"Life changing returns" from IOTA?

If you are a Bitcoin maxi at this point you have spent hundreds of hours learning about and ultimately understanding the asset that you own and likely have been accumulating at a very small fraction of the current price.

Do you REALLY believe the people that I described in the above paragraph are feeling some type of way over some noobs who jumped in 6 months ago and believe themselves to be experts because they watch a few BitBoy videos?

I feel the same way about these noobs as I do some unsuspecting fool who is stepping into the ring against a 1987 Mike Tyson. They just end up getting unbelievably damaged in the end.

Bindare_Dundat · « **Reply #6658 on:** May 18, 2021, 06:17:05 PM »

Think we're about the break 42k support. If we brake 38k, its over until the next halving.imo

Theoak* · « **Reply #6659 on:** May 18, 2021, 06:39:08 PM »

Quote from: Bindare_Dundat on May 18, 2021, 06:17:05 PM

Think we're about the break 42k support. If we brake 38k, its over until the next halving.imo

Yep....how about we all meet back here in 4 years time? Sound good.....or we can wait until june/july to make a call.

Bindare_Dundat · « **Reply #6660 on:** May 18, 2021, 07:00:48 PM »

Quote from: Theoak* on May 18, 2021, 06:39:08 PM

Yep....how about we all meet back here in 4 years time? Sound good.....or we can wait until june/july to make a call.

Doesn't matter to me either way. I took my original captial out and took profits on the way up. Whatever other profits I'm loosing here now will stay till next cycle if need be.

Of course I'd like to see things continue to the upside.....will see.

gib · « **Reply #6661 on:** May 18, 2021, 09:09:29 PM »

The ultimate buy signal is when this thread ever falls to page 2 of GetBig...

Bindare_Dundat · « **Reply #6662 on:** May 18, 2021, 09:15:13 PM »

Quote from: gib on May 18, 2021, 09:09:29 PM

The ultimate buy signal is when this thread ever falls to page 2 of GetBig...

What price did you sell it?

Flexacon · « **Reply #6663 on:** May 18, 2021, 09:19:07 PM »

Quote from: polychronopolous on May 18, 2021, 03:03:01 PM

MicroStrategy buys the dip, acquires $10M in Bitcoin

Business intelligence firm MicroStrategy has scooped up another $10 million worth of Bitcoin (BTC), signaling the company’s relentless conviction in the digital asset amid the latest price collapse.

The cash amount earned MicroStrategy 229 BTC at an average price of $43,663, the company confirmed Tuesday in a Form 8-K filing with the United States Securities and Exchange Commission. The acquisition came just five days after the business intelligence firm purchased 271 BTC for an average price of $55,387.

CEO Michael Saylor, an outspoken supporter of Bitcoin, also disclosed the purchase on Twitter.

Saylor is throwing his money around right now like a degenerate gambler chasing loses.

Griffith · « **Reply #6664 on:** May 18, 2021, 10:33:15 PM »

Don't think we've seen the bottom yet.

Mayday · « **Reply #6665 on:** May 18, 2021, 11:23:03 PM »

Quote from: Bindare_Dundat on May 18, 2021, 06:17:05 PM

Think we're about the break 42k support. If we brake 38k, its over until the next halving.imo

29k incoming.....

I have several subscriptions to quants and top accounts and I can tell you guys this move has blown all of their metrics and analysis apart. They had no idea this was coming and I’ll be canceling 2 of those subscriptions.

I have shown myself to be absolutely fucking useless with short term targets, the ultimate irony was my initial ETH for June was 5k based on a 38k BTC and I told myself that must be wrong because we were still trending upwards. Oh the irony lol.

Griffith · « **Reply #6666 on:** May 19, 2021, 12:24:53 AM »

Quote from: Mayday on May 18, 2021, 11:23:03 PM

29k incoming.....

I have several subscriptions to quants and top accounts and I can tell you guys this move has blown all of their metrics and analysis apart. They had no idea this was coming and I’ll be canceling 2 of those subscriptions.

I have shown myself to be absolutely fucking useless with short term targets, the ultimate irony was my initial ETH for June was 5k based on a 38k BTC and I told myself that must be wrong because we were still trending upwards. Oh the irony lol.

Yes, I don't think this is the bottom yet either.

Theoak* · « **Reply #6667 on:** May 19, 2021, 01:12:27 AM »

Quote from: Mayday on May 18, 2021, 11:23:03 PM

29k incoming.....

I have several subscriptions to quants and top accounts and I can tell you guys this move has blown all of their metrics and analysis apart. They had no idea this was coming and I’ll be canceling 2 of those subscriptions.

I have shown myself to be absolutely fucking useless with short term targets, the ultimate irony was my initial ETH for June was 5k based on a 38k BTC and I told myself that must be wrong because we were still trending upwards. Oh the irony lol.

Calm down, enjoy this. Seems like a coordinated attack to me to scare off weak hands. Short term predictions are useless. Zoom out, take a breath. You know where this heading....

Flexacon · « **Reply #6668 on:** May 19, 2021, 01:33:12 AM »

This is pretty interesting for several reasons. Bitcoins price dropping at the same rate that golds price is increasing. Best time to buy bitcoin might be when they meet.

This might all be bigger than crypto though. The stock markets are very bearish right now.

Mayday · « **Reply #6669 on:** May 19, 2021, 02:13:15 AM »

Quote from: Theoak* on May 19, 2021, 01:12:27 AM

Calm down, enjoy this. Seems like a coordinated attack to me to scare off weak hands. Short term predictions are useless. Zoom out, take a breath. You know where this heading....

Oh I’m fine as I don’t use margin and am heavily in profit like you guys.

It’s not a coordinated attack anymore, what we are seeing now is capitulation as each support line is broken.

I’m still working to my ETh strategy so I’m miles up. It’ll come good.

Bindare_Dundat · « **Reply #6670 on:** May 19, 2021, 02:13:45 AM »

Quote from: Theoak* on May 19, 2021, 01:12:27 AM

Calm down, enjoy this. Seems like a coordinated attack to me to scare off weak hands. Short term predictions are useless. Zoom out, take a breath. You know where this heading....

That shake out weak hands narrative is getting old. Sounds like some Trump level 5d chess talk. We're relaxed. Its perfectly normal to consider that the bull market is over. Youre starting to sound like you're just trying to convince yourself that its not. No disrespect intended.

How far back back do I have to zoom out? Im practically at outter space distances at this point. Still looks shitty. There's no pretty way to paint a drop this large.

Still hoping for the best, but I'm ready for the worst case scenario and I'm not going to wait for 20k btc to say , its over.

It was crazy watching the orderbook lite up as soon as we dropped below42k. It went nuts. Prior to that it was like the calm before the storm. You could feel it coming. Lol

Bindare_Dundat · « **Reply #6671 on:** May 19, 2021, 02:22:02 AM »

Quote from: Mayday on May 18, 2021, 11:23:03 PM

29k incoming.....

I have several subscriptions to quants and top accounts and I can tell you guys this move has blown all of their metrics and analysis apart. They had no idea this was coming and I’ll be canceling 2 of those subscriptions.

I have shown myself to be absolutely fucking useless with short term targets, the ultimate irony was my initial ETH for June was 5k based on a 38k BTC and I told myself that must be wrong because we were still trending upwards. Oh the irony lol.

All anyone can do is make the best calls with the info at hand but no one can predict human behavior. Sometimes we do things that are completely unexpected, like embrace useless shit like Dogecoin over, well thought out creations like bitcoin. Or predict a billionaire will do tweet ridiculous garbage that starts a cascade of FUD from all directions.

gib · « **Reply #6672 on:** May 19, 2021, 02:47:28 AM »

Quote from: Flexacon on May 19, 2021, 01:33:12 AM

This is pretty interesting for several reasons. Bitcoins price dropping at the same rate that golds price is increasing. Best time to buy bitcoin might be when they meet.

This might all be bigger than crypto though. The stock markets are very bearish right now.

I don't see gold as an "opposition" to BTC. In my view these assets both compliment each other.

gib · « **Reply #6673 on:** May 19, 2021, 02:51:20 AM »

Quote from: Bindare_Dundat on May 18, 2021, 09:15:13 PM

What price did you sell it?

Not selling this time around. I am legit in this for the long run and simply HODL as I said I would.

Indeed I am actually nibbling away with daily automated micro-purchases of Sats, which entirely takes emotion out of the equation. So I am actually increasing my holdings. By 2025 the prices we see now, let alone the recent downward movement will most likely be but a little blip on a zoomed out graph. Best time to buy is when others are selling or lack confidence.

Bindare_Dundat · « **Reply #6674 on:** May 19, 2021, 03:02:23 AM »

Quote from: gib on May 19, 2021, 02:51:20 AM

Not selling this time around. I am legit in this for the long run and simply HODL as I said I would.

Indeed I am actually nibbling away with daily automated micro-purchases of Sats, which entirely takes emotion out of the equation. So I am actually increasing my holdings. By 2025 the prices we see now, let alone the recent downward movement will most likely be but a little blip on a zoomed out graph. Best time to buy is when others are selling or lack confidence.

So yoire saying I should buy DOGE?

Just kidding bro. Lol