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

[IroNat]

From 2018...

Everyone Is Getting Hilariously Rich and You’re Not

https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html

[Mayday]

[Bindare_Dundat]

Still expecting 25k?

[Bindare_Dundat]

Cardano holds so well on these dips. It is going to do so much damage when the bull market takes off again. Dowmside is its hard to get more at a cheaper price. They are doing these rollout extremely well, too making sure things are going to run without hiccups.

Even though I still bought back into Ethereum, they better get their shit together. The latest eipp1559 news wasn't good and they had to patch a significant error.

[Mayday]

Still expecting 25k?

Mmmmmm I’m not feeling this whole going to 20k vibe. I didn’t think I said it was going right down?. I thought 30k will hold and it has.

In a pandemic world with record money printing and debt stimulus, how the fuck do we go into a bear market on the very thing designed to fight against it?

I think everyone that could be massacred is already dead and I honestly think it’s a bear trap.

We go back up.......

[Bindare_Dundat]

Mmmmmm I’m not feeling this whole going to 20k vibe. I didn’t think I said it was going right down?. I thought 30k will hold and it has.

In a pandemic world with record money printing and debt stimulus, how the fuck do we go into a bear market on the very thing designed to fight against it?

I think everyone that could be massacred is already dead and I honestly think it’s a bear trap.

We go back up.......

You mentioned a big wick into that area. Thats what I was referring to. Of course anything is still possible, we're by no means out of the woods. I still think the lowest we will see is 32-34 and we did bounce out of that area.  we had some bullish divergences going on. I would like to see us hit a bit past 37500 to feel better about this move up  for the short term. If we dont make a lower low below the most recent dip that will be a really nice short term sign. Oscillators are getting a little hot again, might grab some polkadot on the next drop down, its really far off from its highs.

[Mayday]

We just created a higher low today so I’m hoping that could be the sign we wanted.

ETHBTC resistance is 0.072 so I’m looking for that to break. We are 0.069 at the moment.

The first and second weeks of each month have been large rallies from Jan this year. It’s the first tomorrow so let’s see.

[Bindare_Dundat]

We just created a higher low today so I’m hoping that could be the sign we wanted.

Bitboy melting down. hahahaah

[polychronopolous]

This is what's referred to as "smart money"

The smartest money has been buying and holding BTC the entire time

Report Shows Over $2B Worth Of Bitcoin Bought During The Dip

Large investors — or so-called whales — bought great quantities of Bitcoin (CRYPTO: BTC) when it briefly dipped at the $30,000 price level.

What Happened: In a recent report by blockchain analytics company Chainalysis, the firm's Chief Economist Philip Gradwell explains that whales bought 77,000 bitcoin last week, now worth over $3 billion.

This is the conclusion drawn by the company from its analysis of blockchain transaction data.

Bitcoin's price dipped briefly to a 5-month low under $30,000 on May 23 after news spread that Chinese authorities are about to strike against cryptocurrencies as local crypto exchanges suspended their activities amid uncertainties.

The buys by institutional investors took place when Bitcoin was trading in the $30,000 to $35,000 range.

Chainalysis claims that 1.2 million BTC was sent at a 5 to 25% loss, with 120,000 bitcoin moved at a 25% loss or worse.

According to the report, $3.2 billion of Bitcoin was sold at a loss last week after being acquired in the previous 4 to 13 weeks.

“However, this was a smaller number of bitcoin sent at a loss than in the late 2017 and mid-March 2020 price crashes, suggesting that last week was not the worst capitulation of holders in Bitcoin’s history,” the report states.

Price Action: At press time, Bitcoin was trading at $35,853, up 4.48% in the past 24-hours, and 8.71% over the last week.
 
https://finance.yahoo.com/news/report-shows-over-2b-worth-173718326.html

[obsidian]

Cardano holds so well on these dips. It is going to do so much damage when the bull market takes off again. Dowmside is its hard to get more at a cheaper price. They are doing these rollout extremely well, too making sure things are going to run without hiccups.

Even though I still bought back into Ethereum, they better get their shit together. The latest eipp1559 news wasn't good and they had to patch a significant error.

Cardano dropped from a high of $2.42 on May 16 down to $1.14 on May 19. That's a drop of 52.89% in 3 days. Apparently 70% of ADA is staked which should have prevented the price from dropping that fast. And yet it did. I remember how ADA crashed back in 2018-2019. So I am not really convinced that it is as bullet proof as many fanboys say. The charts tell a different tale.

What bad news recently came out on EIP1559? What error had to be patched? Can you post a link? I don't see anything obvious when searching the news.

[obsidian]

https://www.forbes.com/sites/billybambrough/2021/05/24/13-trillion-crypto-price-crash-leaked-goldman-sachs-prediction-gives-high-chance-ethereum-will-eclipse-bitcoin/?sh=798f3323257a

Leaked Goldman Sachs Prediction Gives ‘High Chance’ Ethereum Will Eclipse Bitcoin

Bitcoin and cryptocurrencies have crashed over last week, with an electrifying $1.3 trillion wiped from the combined crypto market price.

The Bitcoin price has lost almost 50% of its value since hitting its all-time high of nearly $65,000 per bitcoin in April. Meanwhile, Ethereum is down by more than half after climbing to over $4,000 per ether token earlier this month.

Now, a leaked report from Wall Street giant Goldman Sachs GS +0.5% has given Ethereum, the second-largest cryptocurrency with a market capitalization of around $250 billion compared to bitcoin's $660 billion, a "high chance" of overtaking bitcoin as a "dominant" store of value—calling it the "Amazon AMZN -0.2% of information."

[Bindare_Dundat]

Cardano dropped from a high of $2.42 on May 16 down to $1.14 on May 19. That's a drop of 52.89% in 3 days. Apparently 70% of ADA is staked which should have prevented the price from dropping that fast. And yet it did. I remember how ADA crashed back in 2018-2019. So I am not really convinced that it is as bullet proof as many fanboys say. The charts tell a different tale.

What bad news recently came out on EIP1559? What error had to be patched? Can you post a link? I don't see anything obvious when searching the news.

Im talking about for the smaller dips. Yeah, all coins took a massive shit at the worst  point of the current cycle. lol

It was in a n article yesterday, Ill trt and find it when I have some free time.

[Mayday]

We just created a higher low today so I’m hoping that could be the sign we wanted.

ETHBTC resistance is 0.072 so I’m looking for that to break. We are 0.069 at the moment.

The first and second weeks of each month have been large rallies from Jan this year. It’s the first tomorrow so let’s see.

Daily closed 0.07264 for end of May and now we start a fresh month. This is how the months have begun......

BTC rallies from day 1 of the month:
Jan - 46% in the first 8 days
Feb - 81% in the first 21 days
Mar - 37% in the first 12 days
Apr - 12% in the first 13 days albeit BTC was having a heart attack at this point.

ETH rallies from day 1 of the month:
Jan - 80% in 8 days
Feb - 57% in 18 days
Mar - 38% in 13 days
Apr - 34% in 14 days
May - 55% in 10 days

June is the strongest seasonality in a bull market for ETH.

If we use the previous gains as a guide we get an ETH range of 3,600-4,100-4,900

Using a peak of 0.11 ETHBTC this gives us a BTC range of of 32,700-37,200-45,000

[Bindare_Dundat]

Daily closed 0.07264 for end of May and now we start a fresh month. This is how the months have begun......

BTC rallies from day 1 of the month:
Jan - 46% in the first 8 days
Feb - 81% in the first 21 days
Mar - 37% in the first 12 days
Apr - 12% in the first 13 days albeit BTC was having a heart attack at this point.

ETH rallies from day 1 of the month:
Jan - 80% in 8 days
Feb - 57% in 18 days
Mar - 38% in 13 days
Apr - 34% in 14 days
May - 55% in 10 days

June is the strongest seasonality in a bull market for ETH.

If we use the previous gains as a guide we get an ETH range of 3,600-4,100-4,900

Using a peak of 0.11 ETHBTC this gives us a BTC range of of 32,700-37,200-45,000

Things are looking pretty good right now as long as Elon stays off twitter. 

[Gregzs]

Police Bust Suspected Cannabis Farm, Turns Out To Be Large Bitcoin Mining Operation


Cannabis farms concealed inside houses are pretty distinctive. High temperatures, constant humidity, sealed rooms to control odors, and vents to maintain the microclimate are all hallmarks of those that house many plants, and this is certainly known to police. As such, using infrared cameras and drones, police can home in on illegal farms with ease – but they might not always be what they seem.

After West Midlands police gained intelligence suggesting a resident was growing cannabis on an industrial estate in Sandwell, UK, police officers gained a warrant and attended the area expecting to find a swathe of cannabis plants. Instead, they found a large cryptocurrency mining rig of around 100 units, all mining for bitcoin. 

“It’s certainly not what we were expecting! It had all the hallmarks of a cannabis cultivation set-up and I believe it’s only the second such crypto mine we’ve encountered in the West Midlands.” said Sandwell Police Sargent Jennifer Griffin, in a statement.

The equipment used in the operation was all seized on grounds of illegal electricity consumption. According to the police, inquiries into the local electricity supplier uncovered thousands of pounds worth of power stolen from the mains supply to power the large rig, and the officers are now pursuing a case to permanently seize all the units discovered.

“My understanding is that mining for cryptocurrency is not itself illegal but clearly abstracting electricity from the mains supply to power it is,” said Griffin.

The police are now on the hunt for the owner of the operation.
 
“We’ve seized the equipment and will be looking into permanently seizing it under the Proceeds of Crime Act. No-one was at the unit at the time of the warrant and no arrests have been made – but we’ll be making enquiries with the unit’s owner.”

Bitcoin has come under heavy fire in recent months, as the crypto market hit a peak in early May and Bitcoin continued to rise. However, following news of a changing attitude in China and a tweet from Elon Musk claiming Tesla will no longer accept Bitcoin (citing environmental concerns), the crypto market took a sharp hit and many coins were significantly impacted. At the time, Bitcoin mining was using more electricity than Argentina, which troubled environmentalists.

As cryptocurrencies such as Ethereum transition to more environmentally-friendly methods, it remains to be seen whether the market can bounce back. 

In the meantime, if you are considering mining for crypto, make sure to source electricity legally.

https://www.iflscience.com/technology/police-bust-suspected-cannabis-farm-turns-out-to-be-large-bitcoin-mining-operation/?fbclid=IwAR3ZcbXAn37cHp00UNpNzqIXKghPZUprjytDGD6uHPCQJUeEtrikFA9Z4uc

[Mayday]

Things are looking pretty good right now as long as Elon stays off twitter. 

I’m out. Took the profit and am sitting in cash.

The sad truth is this, a 50% drop has a higher probability of becoming a 70% drop than it does of rallying quickly to a new ATH. Institutions and big players are trading the volatility.

[Bindare_Dundat]

I’m out. Took the profit and am sitting in cash.

The sad truth is this, a 50% drop has a higher probability of becoming a 70% drop than it does of rallying quickly to a new ATH. Institutions and big players are trading the volatility.

I got nothing but time.

[IroNat]

There will be a few cops in the UK now doing crypto-mining with that seized equipment.

[gib]

I’m out. Took the profit and am sitting in cash.

The sad truth is this, a 50% drop has a higher probability of becoming a 70% drop than it does of rallying quickly to a new ATH. Institutions and big players are trading the volatility.

Lets see how this goes. BTC might well drop to the 24K level. But then again, its quite possible that right now is really the support level for the recent low, before the next sustained upwards climb to 80-100K. Would suck if you sold exactly at the bottom and then miss the whole next leg up.

I'm staying true to my word. Long term HODL for me...

Time will tell!

[Bindare_Dundat]

 Pumping  a bit now. A move to 40k and this thing will explode 

[Flexacon]

Lets see how this goes. BTC might well drop to the 24K level. But then again, its quite possible that right now is really the support level for the recent low, before the next sustained upwards climb to 80-100K. Would suck if you sold exactly at the bottom and then miss the whole next leg up.

So BTC could potentially x2 or x3.

You can just wait to see if it hits 50K or a new ATH and then buy ETH and you'll get a x2 or x3 anyway. Far less risk involved in that move.

Or you can just buy a bunch of alts in these dips and get a potential x5.

Only reason to hold BTC right now is if you're a maxi (I'm not criticizing them, might even join them myself soon). But I sold my BTC not too long ago and it's already paying off. Some of the alts I bought are already  close to x2 and BTC hasn't even started pumping yet.

[Bindare_Dundat]

So BTC could potentially x2 or x3.

You can just wait to see if it hits 50K or a new ATH and then buy ETH and you'll get a x2 or x3 anyway. Far less risk involved in that move.

Or you can just buy a bunch of alts in these dips and get a potential x5.

Only reason to hold BTC right now is if you're a maxi (I'm not criticizing them, might even join them myself soon). But I sold my BTC not too long ago and it's already paying off. Some of the alts I bought are already  close to x2 and BTC hasn't even started pumping yet.

The price of alts relative  to btc is crazy right now compared to when btc was at ath.

Like you said, if btc takes off, the alts are gonna go ballistic.

[Mayday]

Pumping  a bit now. A move to 40k and this thing will explode

Looking for 38k and 2.8k breakout.

Just remember the Miami Bitcoin conference is on the 4th and 5th. When they had the conference on in 2019 price went up 25% in 2 days and then dumped 30% straight after.

If I see the ranges break I’ll jump into ETH, Doge and small caps for a quick trade and then out.

[Bindare_Dundat]

Looking for 38k and 2.8k breakout.

Just remember the Miami Bitcoin conference is on the 4th and 5th. When they had the conference on in 2019 price went up 25% in 2 days and then dumped 30% straight after.

If I see the ranges break I’ll jump into ETH, Doge and small caps for a quick trade and then out.

If you touch doge I will take back the earlier  beer offer lol.

Yes I took the conference into consideration. We formed a nice cup and handle on the 4 hour. If we break past 40k there was hardly and friction on the way down, a move up could be close to parabolic from that price.

[Mayday]

Lets see how this goes. BTC might well drop to the 24K level. But then again, its quite possible that right now is really the support level for the recent low, before the next sustained upwards climb to 80-100K. Would suck if you sold exactly at the bottom and then miss the whole next leg up.

I'm staying true to my word. Long term HODL for me...

Time will tell!

The problem is the monthly charts are horrific. We already blew through the bounce territory on the RSI meaning historically every single time we go down 

We see dead cat bounces in the past and I expect the 4th-5th June to rally hard because of Miami. It might be 20%+! However People are already carried away calling breakouts far to early only to get slaughtered. I am seeing stacks of alerts of longs being liquidated, they are being slaughtered going in too early.

BtC 38k and ETH 2.8k are the breakout ranges. If they break up I’ll go in and out.

I’ll wait for the monthly charts to look healthy again before I stay in for good. Look at how much shit I recently got wrong because I stopped looking at the macro trend lol.