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

[Mayday]

The one thing I haven't been great on is predicting the exact date of market moves, but I noticed during the 2 previous cycle peaks early/mid July saw mini dips. Bitboy in a recent video also pointed out that the end of Q2 causes some sell off and rebuying. That's basically what caused the recent market crash, so that's why I landed on us still having another small crash before moving forwards.

Focusing and trying to predict dates is tough though. That's why I've been steadily accumulating during these mini dips, (my version of dollar cost averaging)

Also when the Wyckoff stuff was being discussed I thought people were looking at the wrong schematics. I felt this was a better fit and it's been playing out pretty accurately. We are currently in the red circle, waiting for that crash and then shooting upwards.

Mmmmm Wyckoff makes sense if you moved your red circle to the group above it. We are in phase D which is a rallying point from a first leg down. Then we enter phase E for the final leg down. it’s accurate unless you get a step wrong and think you’re at the bottom already. That’s what everyone thinks so don’t worry.

Nobody wants to read it correctly because if you do it means we had a peak and now a bear market. It means everything just blew apart and the only way to make proper bank is to trade the volatility.

[polychronopolous]

El Salvador President Notes No Capital Gains on Crypto Due to It Being a 'Legitimate Currency'


El Salvador president announces that the country could become the very first country to start adopting Bitcoin as some sort of legal tender. Nayib Bukele, the Salvadorian president, announced this in a video recording that was shown during the recent Bitcoin 2021 conference that was held in Miami.

According to Bitcoin Magazine, Bukele stated that next week, he will be sending a bill to congress in order to make Bitcoin a legal tender. The 39-year-old Bukele had a strong majority with 56 out of 84 seats ever since his landslide victory in the country's legislative elections that took place last March.

President Bukele shared a status that noted Bitcoin investors would start moving to El Salvador saying the country has great weather, beach front properties for sale, and even world class surfing beaches. It was also noted that the country is one of the first countries that don't have property tax.

It was also noted that the country would have no capital gains tax for Bitcoin since the cryptocurrency is said to become a legal currency. The best news is that Bitcoin investors will have immediate permanent residence for other crypto entrepreneurs.

The story by CNN notes that the country will be partnering with the digital finance company called Strike in order to establish the full logistics of this decision. Jack Mallers, Strike CEO, stated 70% of the active population still does not have a bank account and that they still aren't part of the financial system.
US Dollar and Other Currencies

The CEO said that they had asked him to help write a plan that would view Bitcoin as some sort of world-class currency and that they need to put together a certain Bitcoin plan in order to help those people. El Salvador, as of the moment, uses the United States dollar as the country's official currency.

https://www.techtimes.com/articles/261149/20210606/el-salvador-president-notes-no-capital-gains-on-crypto-due-to-it-being-a-legitimate-currency.htm

[Bindare_Dundat]

.

[Flexacon]

Mmmmm Wyckoff makes sense if you moved your red circle to the group above it. We are in phase D which is a rallying point from a first leg down. Then we enter phase E for the final leg down. it’s accurate unless you get a step wrong and think you’re at the bottom already. That’s what everyone thinks so don’t worry.

Nobody wants to read it correctly because if you do it means we had a peak and now a bear market. It means everything just blew apart and the only way to make proper bank is to trade the volatility.

I'm not sticking to Wyckoff pattern religiously, that's why I chose to use this more general schematic. I'm using it more as a guide to timing events and it's worked pretty well for that. I feel we are at the bottom timeline wise, but we're still due another sharp 20-25% correction before things start moving in a more permanent upwardly direction.

Bitcoin peaks were always after a parabolic run. We didn't get that with the 65K peak. The 65K peak looks more like the first 6 months 2017 and 2013 and not their peaks.

No point stressing over this now anyway. Sit tight holding USD. If I'm right there will be plenty of opportunities to jump in.

[Mayday]

.

Why did you go BtC and not ETH?

If BTC doesn’t move up/down by 8th-9th June and decides to sit flat I might YOLO into ETH for the dream of ETHBTC 0.11-0.14 and then pull out.

[Bindare_Dundat]

Why did you go BtC and not ETH?

If BTC doesn’t move up/down by 8th-9th June and decides to sit flat I might YOLO into ETH for the dream of ETHBTC 0.11-0.14 and then pull out.

I'm not holding long term BTC at all now but I use it as a general guide for everything else., I'm still trading BTC and ETH  here and there.

I'm staking ADA. Holding another portion ETH and VET as well as DOT. I won't buy back into BTC anytime soon. I'll make more with these on the bounce back to the 42k-52k area and sell again around  there. Wont sell ADA any time soon.

[SOMEPARTS]

This thread is like listening to old gamblers ramble on about race horses.

[Bindare_Dundat]

This thread is like listening to old gamblers ramble on about race horses.

Must be a boring day for you.

[a_pupil]

You can invest in much safer things with more yeild instead of looking at crypto every hour

Investing in Falcone Landscaping > Bitcoin

[Flexacon]

This thread is like listening to old gamblers ramble on about race horses.

As someone who worked in the betting industry for over a decade I will have to agree. Yes there are many similarities.

However if the vast majority of players in btc held they would be in profit. You can go one step further and set up your own mining projects for additional profit. There is one major difference here vs most types of gambling, the edge is with the players who understand the fundamentals. It's like the early days of online poker where experienced players would clean up and make easy money because of dumb newb money.

That window of opportunity where this is the case is closing (may have already closed) The majority of people who have nothing positive to say about crypto are those who missed the boat and the easy $$$.



Their usual comeback is also "oh I already made my btc gains back in 2013"

[polychronopolous]

Paraguay Hints at Making Bitcoin a Legal Tender After El Salvador


Bitcoin has reached the legal tender stage where countries have started to show interest in adding BTC to their state treasury and El Salvador became the first state to do so. The president of the country Nayib Bukele took to Twitter to announce the news and even revealed that citizens won’t have to pay any capital gain tax on Bitcoin since it is a legal tender now.  The president also changed his Twitter profile picture to include laser eyes, a popular ongoing meme trend for Bitcoiners.

Just a day after the announcement made by El Salvador President, another country has hinted at joining the Bitcoin league in the form of Paraguay. A politician from the country also changed his profile photo to include laser eyes and revealed a big announcement is coming this week hinting at a possible Bitcoin adoption as a legal tender.

The 2017 bull run was majorly carried by retail investors as institutions watched from the sideline, not sure if BTC is just another internet bubble or something that people would invest in. 2021 bull run has proven that Bitcoin is a real store of value and here to stays. Realizing this, Institutions were quick to jump on the Bitcoin bandwagon, followed by publically listed fortune 500 companies adding Bitcoin to their treasury.

Now countries such as El Salvador and Paraguay have come to realize that Bitcoin offers censorship-resistant money that would not only help them see their county’s GDP growth.

El Salvador could play a similar role to Microstrategy and start a domino effect for other countries to join in on the Bitcoin bandwagon. The primary reason for these countries to turn to Bitcoin is the depleting value of the US Dollar, which might not be a big issue for the likes of the US in the short term as they can print as much as they need, but many other small nations suffer dearly.

El Salvador’s president explained Bitcoin would prove to be a boon for the country as a legal tender as it offers financial inclusiveness and the fact that 70% of the country’s population is unbanked.



https://coingape.com/paraguay-hints-at-making-bitcoin-a-legal-tender-after-el-salvador/

[SOMEPARTS]

Must be a boring day for you.

Spent 5 minutes on Getbig this morning champ. Still managed to make you melt a little.

[SOMEPARTS]

As someone who worked in the betting industry for over a decade I will have to agree. Yes there are many similarities.

However if the vast majority of players in btc held they would be in profit. You can go one step further and set up your own mining projects for additional profit. There is one major difference here vs most types of gambling, the edge is with the players who understand the fundamentals. It's like the early days of online poker where experienced players would clean up and make easy money because of dumb newb money.

That window of opportunity where this is the case is closing (may have already closed) The majority of people who have nothing positive to say about crypto are those who missed the boat and the easy $$$.



Their usual comeback is also "oh I already made my btc gains back in 2013"

"The vast majority" of horse bettors think they have an inside tip too.

The fundamentals are not with crypto, quite the opposite - it's viral...a trend. I mean Cumrocket has to be legit because of a Musk tweet, right? Many thought so...

The last part is true...timing is everything with every greater fool model.

[Army of One]

The fundamentals are not with crypto

they are, but its a much deeper subject that the public who rush in to dog tokens and cumrocket etc, wont spend the hundreds of hours needed to grasp it.The good layer 1, layer 2 projects, interoperability projects, oracles, dfi etc etc have great fundamentals and many of them will grow even in a bear market, look at link or qnt last bear.

[Flexacon]

"The vast majority" of horse bettors think they have an inside tip too.

The fundamentals are not with crypto, quite the opposite - it's viral...a trend. I mean Cumrocket has to be legit because of a Musk tweet, right? Many thought so...

The last part is true...timing is everything with every greater fool model.

The vast majority of "horse bettors" are degenerate gamblers. I have seen their betting patterns and accounts! You have a small number of fixed odds gamblers who are price sensitive who would win long term. Once they are identified they get their accounts restricted or closed.

The legit "insiders" are identified and allowed to hold winning accounts. Their bets help bookmakers set the market and bookmakers can adjust their liabilities or take a position accordingly. They are very careful about when they bet and how much so they don't upset the market, or give the game up too soon. I feel pretty certain we have stuff like this going on with BTC price.

No offence, but it's pretty obvious you know very little about gambling or crypto. That's a good thing to me though. It just means it's still early and plenty more money to be made still. Get out there and teach yourself!

[SOMEPARTS]

The vast majority of "horse bettors" are degenerate gamblers. I have seen their betting patterns and accounts! You have a small number of fixed odds gamblers who are price sensitive who would win long term. Once they are identified they get their accounts restricted or closed.

The legit "insiders" are identified and allowed to hold winning accounts. Their bets help bookmakers set the market and bookmakers can adjust their liabilities or take a position accordingly. They are very careful about when they bet and how much so they don't upset the market, or give the game up too soon. I feel pretty certain we have stuff like this going on with BTC price.

No offence, but it's pretty obvious you know very little about gambling or crypto. That's a good thing to me though. It just means it's still early and plenty more money to be made still. Get out there and teach yourself!

Said before...I owned BTC and LTC before 95% of people in this thread...very well versed in the tech and regs which is the reason I'm not in it...and correct, I am NOT a gambler but I do know dysfunction when I see it.

[SOMEPARTS]

they are, but its a much deeper subject that the public who rush in to dog tokens and cumrocket etc, wont spend the hundreds of hours needed to grasp it.The good layer 1, layer 2 projects, interoperability projects, oracles, dfi etc etc have great fundamentals and many of them will grow even in a bear market, look at link or qnt last bear.

Some would call this being a degenerate gambler. 

Pretty busy living life....I really don't have hundreds of hours to gamble on somebody else's ponzi. Things are getting more complex for no reason, IMO. Not a good sign.

Everybody just trying to get lightning to strike twice like BTC at this point.

[polychronopolous]

Some would call this being a degenerate gambler. 

Pretty busy living life....I really don't have hundreds of hours to gamble on somebody else's ponzi. Things are getting more complex for no reason, IMO. Not a good sign.

You don't have the time to put in and as a result you come across as sounding very ignorant.

[SOMEPARTS]

You don't have the time to put in and as a result you come across as sounding very ignorant.

Well, that would make sense to you since I'm not here to talk horses. 

[Soul Crusher]

https://www.cnn.com/2021/06/07/politics/colonial-pipeline-ransomware-recovered/index.html


    


Damn they must feel like idiots now. 

[Flexacon]

Said before...I owned BTC and LTC before 95% of people in this thread...very well versed in the tech and regs which is the reason I'm not in it...and correct, I am NOT a gambler but I do know dysfunction when I see it.

Lol. You fell right into my trap. I posted this earlier, but made it "invisible".

That window of opportunity where this is the case is closing (may have already closed) The majority of people who have nothing positive to say about crypto are those who missed the boat and the easy $$$.



Their usual comeback is also "oh I already made my btc gains back in 2013"


Come across people like you all the time bro. Post evidence of your crypto gains or shut up.

[Mayday]

Elsalvadore didn’t move the needle.

Paraguay didn’t move the needle.

Microstrategy announce 400M debt sale to fund more BTC purchases…… didn’t move the needle.

Oh and Microstrategy is changing their BTC holdings structure…… their blended buy is 25k.

Go look at Saylor’s Twitter account. Back in April and May he would get 60k-80k likes for large announcements and 15k for general posts. Right now he is getting 18k likes for large announcements and 5k for general posts.

They nuked 2/3 of his following who were the FOMO leveraged 10x’ers that took us from 30k to 64k.

The 400M is for MSTR to defend against going below that 33k range. If he can survive this, massive balls on this guy.

[Theoak*]

Lol. You fell right into my trap. I posted this earlier, but made it "invisible".

That window of opportunity where this is the case is closing (may have already closed) The majority of people who have nothing positive to say about crypto are those who missed the boat and the easy $$$.



Their usual comeback is also "oh I already made my btc gains back in 2013"


Come across people like you all the time bro. Post evidence of your crypto gains or shut up.

Nothing says "top shelf" investor like selling your btc for 400$ when you know its going to 60k. Dont worry, he knows the "rules and regulations"...... salty some?

[IRON CROSS]

You can't really be this stupid.

 

He (gib/Vince G.) knows shit , rest of the World is NOT America (U.S.) !.

US $ is gone light green !.

[Bevo]

The Donald just said Bitcoin is a scam and should be regulated 

Who follows this idiot anyways haha

The whole getbig board loves the Donald