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

[Mayday]

It's a store of value though...

It is.

It stored 64,500 6 weeks ago and today it stores 32,000 

[Theoak*]

Not me. I drank Hopium Satan water. Still, buying a new car with the profit (after tax) so i came out miles better than most. I learn fast though and living through it gives perspective and context.

once 30k order book is rug pulled it’s daylight to 18k with future downside risk to 12k.

I don’t think we stop at 25k. Straight to 18k. Maybe inside the next 5 days.

Btc has never dropped below a previous Bull runs ATH. Do you think this time is different?

[Mayday]

Btc has never dropped below a previous Bull runs ATH. Do you think this time is different?

ATH has had 70%-85% drop every single time. 50% - rally - 50% hence half 38k gets you 19k which is where the CME futures gap just happens to be and in-line with 70% drop.

65k peak
Best case 70% - 19.6k
Worst case 85% - 9.8k

Agree it has never seen a pullback to previous ATH. Problem is look at our run up and we didn’t take a single breath from 19k to 30k. It bottoms at large support areas because that’s where the buy walls are.

Look at 2017 and the first major bottom was 7k post peak, now look to the run up and you see 7k was major support. No different to now.

If we believe ‘can’t go lower than previous ATH’ and negate the chart support zones then the argument should be 30k holds and isn’t broken. Saylor raised 1.6B of junk bonds to create that 30k wall.

do they save MSTr or punish him?

[Flexacon]

Bear market now, Nothing abnormal to be honest.

People just refuse to believe it’s fucked after being promised 300k by December. Need to quickly know when the battle is lost otherwise be slaughtered yelling ‘diamond hands of peace’. Hi

Bitcoin won’t turn around until every single holder is squeezed of life. Saylor being squeezed but Twitter idiots think his 1.6B is bullish.

Strong 180 turn from a month ago when I told you that you were being far too optimistic and you came out with "your mum" jokes. Now look at you. Lmao.

Don't let your emotions get the better of you and we'll all make it.

[Mayday]

Strong 180 turn from a month ago when I told you that you were being far too optimistic and you came out with "your mum" jokes. Now look at you. Lmao.

Don't let your emotions get the better of you and we'll all make it.

You are a good sanity check against what I think as we are most often aligned.

We have 5-7 days for it to bottom out and see where we stand.

Ideally 30k holds.

[Mayday]

Who wants to bet Tesla sold?

31k buy. HoDL?

[Theoak*]

El Salvador has officially passed the bill that makes bitcoin legal tender in the country.

[gib]

Paraguay may be next...

[gib]

It is.

It stored 64,500 6 weeks ago and today it stores 32,000 

Yet up 300% YoY.

[Flexacon]

Who wants to bet Tesla sold?

31k buy. HoDL?

As I said I believe Tesla and many other institutional holders who bought above the current price have it in their best interests to sell. But they will almost certainly buy straight back in.

The question is do they do this gradually so we see a slow BTC bleed or do they orchestrate and sell together to flash crash the price. The latter will hurt a lot of people, but offers a great opportunity to buy back in!

[Mayday]

As I said I believe Tesla and many other institutional holders who bought above the current price have it in their best interests to sell. But they will almost certainly buy straight back in.

The question is do they do this gradually so we see a slow BTC bleed or do they orchestrate and sell together to flash crash the price. The latter will hurt a lot of people, but offers a great opportunity to buy back in!

Tesla is out already my friend

Heaps of institutions already dumped.

Where do you think the 50% dump came from?  Retail hasn’t priced it in yet.

PS my Mum joke was awesome. I had a chuckle, just meant to be light hearted. Apologies if it came across as having a go.

[Mayday]

Yet up 300% YoY.

Awesome if you bought for 10k. Are you ok to go back to 0% gain and wait 1-2yrs?

I’m not being mean here. I am trying to get you lot to ask yourself the hard questions and know what your plan is because I can ask painful questions to really get you lot thinking.

Alt are starting to unwind vs BTC. Tesla is out.

everyone is waiting on a bailout from El Salvador people and Saylor to get it to 300k.

[Theoak*]

Paraguay may be next...

I have a real good feeling its ETH turn next to be legally tenderised. Then Cardano, of course lets not leave out Doge and then we still have 192 more countries who can choose from various shit coins. 

[Flexacon]

Tesla is out already my friend

Heaps of institutions already dumped.

Where do you think the 50% dump came from?  Retail hasn’t priced it in yet.

PS my Mum joke was awesome. I had a chuckle, just meant to be light hearted. Apologies if it came across as having a go.

Well I did say I was gonna shut the noise out until things are done playing out. Institutions dumping shows me I'm on the right track. There is still time for further dumping from smaller institutions. I'm not too concerned about retail paper handing, if they do that just means even cheaper buy in prices .

Institution will buy back and it will create fomo again. The lower the price crashes the faster it will shoot up. The window of opportunity will be a very brief!

Generally the same people who believed 300K are the ones shouting end of the world now. Emotional rollercoaster is how people get caught out and miss opportunities, just saying bro..

[Mayday]

Absolutely I’m hoping 30k holds. I am more than happy to wait and pay a premium on price after I see the bull market get strong again. Give it 5-7 more days of FUD and let’s see things after the dust clears.

On the upside El Salvador will own 150M in BTC in a few months time which offsets 10% of the 1.5B Tesla dump.  Combine that with Saylor’s 500M and we have half of Tesla’s dump covered. I’m pretty sure I can get my sister to chuck in tree fiddy, a few more people and we are 🚀 

[Theoak*]

Absolutely I’m hoping 30k holds. I am more than happy to wait and pay a premium on price after I see the bull market get strong again. Give it 5-7 more days of FUD and let’s see things after the dust clears.

On the upside El Salvador will own 150M in BTC in a few months time which offsets 10% of the 1.5B Tesla dump so we got that to be pretty happy about yeah?   Jk 

If btc breaks 30k my feeling is it wont even last a day before it is bought back up by the big boys.  They've  already accumulated 270k btc in the last 2 weeks.

El salvador will have 150m in USD and the merchants will have the opportunity to convert to fiat instantly via their holdings if they dont want to hold btc.

[Mayday]

If btc breaks 30k my feeling is it wont even last a day before it is bought back up by the big boys.  They've  already accumulated 270k btc in the last 2 weeks.

El salvador will habe 150m in USD and the merchants will have the opportunity to convert to fiat instantly via their holdings if they dont want to hold btc.

Very heavy order book at 30k and Saylor will place more. Big players bought at 30k for the bounce to 39k. Same at the 31k bounce to 34k-35k.  If price retraces from here you will know it’s these same
Institutions dumping into retail buyers again. Unsure whether they will protect Saylor, Miami apparently put a target on his back.

There is a lot of FUD yet to come. Tesla. Iran. Mexico. Will be interesting how the market reacts.

[El Diablo Blanco]

Seems the US gov is scooping up bitcoins from seizures. They just got a lot from the Anom sting. Fuckers might be massive holders now.   I think they learned their lesson when they auctioned off a bunch for cheap that could have been worth billions. Now they’re holding on to them.

[LurkerNoMore]

Y'all ignoring my question on which wallet is best for storing shitty meme coins in because y'all got an answer for such a hard question I suppose.

Anyway, from what I have read it seems that the US will be the last to really incorporate digital currency on a large scale until they figure out how the gubbyment will get their cut

[Thin Lizzy]

Financial news networks are talking about bitcoin 20K. So we’re probably at a short term bottom

[sync pulse]

.

[Mayday]

Financial news networks are talking about bitcoin 20K. So we’re probably at a short term bottom

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

[Flexacon]

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

Not concerned about that. I'm actually bullish.

Last time BTC dipped into the low 30s I managed to pick up ETH under 2k, ADA at 1.20 and DOT at 18 (they actually traded even lower) This time they didn't go anywhere near those prices. I'm reading that as people who bought alts in the dip, hodled. No dip, no bounce.

[Thin Lizzy]

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

My guess is that it’s going to bounce around in a range for a while. People underestimate how long that can happen. Look at Apple. Essentially nowhere since September.

I’v found that when the media starts making calls, you don’t wanna go in that direction but you also don’t want to go the opposite way. Sitting on the sidelines is usually the right move.

[El Diablo Blanco]

yes this is a dip, but where is the bounce going to come from?  Biden is not giving away hundreds of billions to people anymore.  I told you guys, estimate was about 10-20% of the stimulus checks went into crypto. We're talking 10-20% of a 1/2 trillion dollars in cash.  Most of those people cashed out and probably paid all cash for a house.