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

[polychronopolous]

The short version.

There are 2 distinct phases. Long fundamental phase (the mean). Short FOMO phase.

Long fundamental phase shows the impact of coins HoDL’d. The short FOMO phase doesn’t show shit about the fundamental price.

The charts I post indicate where we are in this mean reversion. We are months away from the mean reversion.

If your idea of a good time involves engrossing yourself over chart patterns, wicks and moving averages, then by all means, please feel free to do so.

Meanwhile I'll be at Cedar Creek lake fishing for sand bass with an ice cold Busch light in my hand and some Bar-S hot dogs cooking on the grill.

The technical analysis lifestyle isn't for me but I support you 100% in your pursuance of it and any nuggets of wisdom picked up along the way will be taken into consideration as well.

[Jakobslander]

It is still decentralized.

Squeeze me? Look, if you want to buy Bitcoin, one of the best places to look is the Justice Department, they have mandatory crypto liquidations every other week.

People claiming Bitcoin is decentralized remind me of the Amish that use a gas generator (because it's off-grid) to get around their local minister's edicts.

Bitcoin is an alternative to money AND gold. No need to try and hang any more shiny balls on this tree.

[Jakobslander]

I've  always maintained  im not a trader or short  term guy.  Ive said its risky with that approach. Buy and hodl and you wont lose, Buy and try to time the market and you're  almoet guaranteed  to lose 80% of the time.  If you made some coin, congratulations. Hope in continues...it is a bull market after all.
Who is my Maxi boy? Are you claiming im a Maxi?

For the life of me, I will never understand how or why people trade Bitcoin. It is going to 1MM. Why, WHY, would anyone trade it?

And then bitch about the short term capital gains taxes mind you.

[Mayday]

Mayday basically has called 64k a top in this cycle and 80% drawdown by April. Where i believe a price floor after  blow off from the top will sit at around 60k levels.  Either way Btc is here to stay. Enjoy the ride.

September will tell a lot in macro trend so we need to see what that looks like.

The reason I am more bearish is because we already blew past the halfway turnaround point in the larger macro trend for BTC.

Think of it like being in a spaceship where we want to use the orbit of the moon to slingshot back to Earth. We approached the moon and missed it. Now we are in space so how the fuck do we plan to turn around? We can’t, until we reach the next planet which means we have further and longer to travel.

If your idea of a good time involves engrossing yourself over chart patterns, wicks and moving averages, then by all means, please feel free to do so.

Meanwhile I'll be at Cedar Creek lake fishing for sand bass with an ice cold Busch light in my hand and some Bar-S hot dogs cooking on the grill.

The technical analysis lifestyle isn't for me but I support you 100% in your pursuance of it and any nuggets of wisdom picked up along the way will be taken into consideration as well.

I’m spectrum autist so not really a question of good time, it’s addictive so I tend to keep away from numbers unless at work.

But I fucked up in the bullrun. Got things wrong because first time and trying to learn quick. Still made over 100k which bought a new car so not all bad. I learn fast though so no prob now.

[Griffith]

https://seekingalpha.com/news/3718526-anthony-scaramucci-china-having-tiananmen-square-moment-sees-bitcoin-at-100000-by-year-end?utm_source=coinmarketcap.com&utm_medium=referral

China having 'Tiananmen Square moment,' Bitcoin at $100,000 by year end

Anthony Scaramucci, founder of SkyBridge Capital and a former White House aide in the Trump administration, said Friday that the recent regulatory crackdowns from the Chinese government equate to a "Tiananmen Square moment of capitalism" meant to regain control over the country's business leaders.

Speaking to CNBC, Scaramucci also predicted that Bitcoin would reach $100,000 by the end of the year, calling it "Amazon of 1997-2000."

Scaramucci's comments came as Chinese stocks suffered a general sell-off in Friday's pre-market trading. This included a 10% drop in DiDi, which added to a 11% retreat the previous day.

Scaramucci said the increased regulatory scrutiny in China will add risk premium for those stocks and make it harder for them to grow overseas.

On the cryptocurrency market, Scaramucci called Bitcoin the "apex predator" of crypto, though he also thought Ethereum was a strong competitor.

The former White House staffer said Bitcoin and Ethereum could become the "Coke and Pepsi" of cryptocurrency.

He noted that Skybridge launched an Ethereum fund earlier this month.

[Griffith]

https://markets.businessinsider.com/news/stocks/family-offices-bitcoin-cryptocurrencies-crypto-inflation-hedge-goldman-sachs-2021-7

60% of super-rich family offices own crypto or are interested as inflation soars, Goldman Sachs says

The investment firms of the super-rich are increasingly interested in cryptocurrencies, a survey by Goldman Sachs has found, with 15% already having bought in and 45% saying they could well do in the future.

Goldman said in a report on Wednesday that many respondents said they were considering cryptocurrencies "as a way to position for higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus."

The bank surveyed 150 family offices - investment firms that look after the wealth of the very rich.

Interest in cryptocurrencies such as bitcoin varied from region to region. Goldman found 24% of family offices in the Americas had put some money in the space already, compared to just 8% in Asia and 8% in Europe, the Middle East and Africa (EMEA).

Around 40% of respondents said they were concerned about monetary debasement as central banks pump money into economies, with more than 40% of this group saying they would consider buying digital assets.

Family offices are a growing force in the investing world, thanks in large part to the boom in billionaires. Of the 150 firms surveyed by Goldman, 22% managed $5 billion or more and 44% managed between $1 billion and $4.9 billion.

Goldman's report said: "Our conversations with family offices indicate they are interested in getting exposure not only to cryptocurrencies but also to innovation in the digital assets ecosystem."

[Flexacon]

https://markets.businessinsider.com/news/stocks/family-offices-bitcoin-cryptocurrencies-crypto-inflation-hedge-goldman-sachs-2021-7

The issue for your regular crypto investor is that if hedgefunds buy more and more crypto, then the first thing they'll do during any financial crash is sell crypto to cover losses elsewhere.

This sends the crypto prices crashing, so your regular investor is left holding the bags.

[polychronopolous]

"Rickety, outdated, old timey technology" 

Jack Dorsey says bitcoin will be a big part of Twitter’s future


Twitter CEO Jack Dorsey confirmed to investors that bitcoin will be a “big part” of the company’s future, as he sees opportunities to integrate the cryptocurrency into existing Twitter products and services, including commerce, subscriptions and other new additions like the Twitter Tip Jar and Super Follows.

Dorsey has been a staunch bitcoin advocate for years, but how it would be put into action on Twitter’s platform had not yet been spelled out in detail. However, Dorsey has often publicly touted the cryptocurrency, saying it reminds him of the “early days of the internet” and that there wasn’t “anything more important” in his lifetime for him to work on.

More recently, Dorsey launched a $23.6 million bitcoin fund with Jay Z and announced plans to lead his other company Square into the decentralized financial services market by way of bitcoin. Square also this year acquired a majority stake in Jay-Z’s TIDAL music service with an eye toward how blockchain technologies and cryptocurrencies could change the music business.

Today, Dorsey also dubbed bitcoin one of three key trends for Twitter’s future, along with AI and decentralization — the latter which Twitter is pursuing through its “Bluesky” initiative.

Twitter’s decentralized future


He touted bitcoin to investors on Twitter’s second quarter earnings call, saying it could help the company move faster in terms of its product expansions, while explaining that it was the “best candidate” to become the “native currency” of the internet. (Incidentally, Square’s $50 million in bitcoin purchased in 2020 was worth $253 million by February 2021, and it purchased $170 million more earlier this year.)

“If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,” Dorsey explained. “I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentive. So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added.



https://techcrunch.com/2021/07/22/jack-dorsey-says-bitcoin-will-be-a-big-part-of-twitters-future/amp/?__twitter_impression=true

[Griffith]

http://www.getbig.com/boards/index.php?action=post;topic=574601.7750;last_msg=9614757

ETH whales accumulated nearly 1.65 million coins in the last six days.

Ethereum (ETH), the world’s second most valuable digital currency, touched nearly $2,100 today after the overall market cap of cryptocurrencies jumped by approximately $50 billion in the 24 hours. Due to the latest price surge, Ethereum’s on-chain activity is showing some signs of recovery.

According to the latest data published by crypto analytics platform Santiment, Ethereum whale addresses holding between 10,000 and 1 million ETH now own a total of 60.5 million coins. Large Ethereum addresses accelerated the accumulation of ETH since the start of this week.

“Ethereum whales that hold between 10k and 1m ETH in their respective wallets now own a cumulative total of 60.52m coins. This is the highest amount held by this tier since 5 weeks and represents a 1.65m ETH accumulation in the past 6 days,” Santiment mentioned.

During the last seven days, ETH remained the top-performing cryptocurrency with a substantial gain of nearly 12%. Currently, the cryptocurrency is trading above $2,060 with a market cap of over $240 billion. ETH’s crypto market dominance spiked above 18% on Friday, its highest level in nearly three weeks.

Significant ETH transfers have increased in the last few days amid a jump in the volatility of the world’s second-largest cryptocurrency. On 12 July 2021, a prominent ETH wallet moved 40,000 coins from the crypto exchange Gemini to a digital wallet. Whale Alert, a blockchain tracking firm, recently highlighted the movement of 145,363 Ethereum to an unknown digital wallet. The total value of the mentioned transfer currently stands at around $292 million.

According to the recent weekly digital fund flows report published by CoinShares, Europe’s leading crypto asset management firm, Ethereum-related investment products attracted $11.7 million worth of inflows last week, compared to outflows worth $10.4 million from BTC investment products. In July’s research note, Goldman Sachs highlighted the growing popularity of Ethereum and mentioned that ETH has the potential to overtake Bitcoin (BTC) in the future.

[Mayday]

The issue for your regular crypto investor is that if hedgefunds buy more and more crypto, then the first thing they'll do during any financial crash is sell crypto to cover losses elsewhere.

This sends the crypto prices crashing, so your regular investor is left holding the bags.

But Saylor said to HoDL. Can we let the hedge funds know to HoDL? Maybe send them Saylor’s videos?

Not so crazy to believe market behaviour will change when big money comes in. Like….I dunno…. say the parabolic peak gets chopped in half and there becomes massive incentive for a downside as low as possible…..

[Theoak*]

But Saylor said to HoDL. Can we let the hedge funds know to HoDL? Maybe send them Saylor’s videos?

Not so crazy to believe market behaviour will change when big money comes in. Like….I dunno…. say the parabolic peak gets chopped in half and there becomes massive incentive for a downside as low as possible…..

He also said he bought  google, apple, amazon and facebook at their very beginnings and made a shit tonne of money and those companies  cant compare to btc in his opinion. Saylor tried trading and lost money. He always maintained the view of hodling strong assets, BTC now being the apex asset moving towards the future.

[Flexacon]

He also said he bought  google, apple, amazon and facebook at their very beginnings and made a shit tonne of money and those companies  cant compare to btc in his opinion. Saylor tried trading and lost money. He always maintained the view of hodling strong assets, BTC now being the apex asset moving towards the future.

Hedgefunds have bet big on MicroStrategy Incorporated. Sounds bullish for bitcoin, but what does it really mean?

You have big buyers with a mutually beneficial interest to manipulate the price of bitcoin to best suit their needs.

How often did Saylor tweet he'd bought a bunch of bitcoin only for the price crash? Which is more believable? Saylor was unlucky and bought the peaks or there was coordinated market manipulation going on by some very wealthy and clever individuals?

[polychronopolous]

He also said he bought  google, apple, amazon and facebook at their very beginnings and made a shit tonne of money and those companies  cant compare to btc in his opinion. Saylor tried trading and lost money. He always maintained the view of hodling strong assets, BTC now being the apex asset moving towards the future.

Saylor has the ability to look himself in the mirror and admit that he was wrong. I respect that. So many people cannot bring themselves to do it.

How foolish was it to "trade" Amazon back in the early 2000s when you could have simply held?

You can slap people across the face with the fundamentals of BTC, the infrastructure being built and the big time money being invested and yet they still try to "time the market"  with hopes to dump it at a short term future date.

In the words of the legendary Nautilus founder Arthur Jones - "It's stupid as hell"

[Flexacon]

Saylor has the ability to look himself in the mirror and admit that he was wrong. I respect that. So many people cannot bring themselves to do it.

How foolish was it to "trade" Amazon back in the early 2000s when you could have simply held?

You can slap people across the face with the fundamentals of BTC, the infrastructure being built and the big time money being invested and yet they still try to "time the market"  with hopes to dump it at a short term future date.

In the words of the legendary Nautilus founder Arthur Jones - "It's stupid as hell"

Only a fool would compare a stock like Amazon to something like Bitcoin, so it's no surprise it's you making the comparison.

When was the last time Amazon stock price dropped over 50% or doubled in price over a couple of months?

Gotta love the cult like delusion. Are you also a scientologist?

[gib]

Only a fool would compare a stock like Amazon to something like Bitcoin, so it's no surprise it's you making the comparison.

When was the last time Amazon stock price dropped over 50% or doubled in price over a couple of months?

Gotta love the cult like delusion. Are you also a scientologist?

Very different assets and dynamics. But I think the point is, not to confuse (or be deterred) between short term volatility and a long term trend. The birth of an entirely new asset class (and indeed an entirely new global monetary system, replacing the state as the decider of how humans store value and exchange value) is bound to be volatile during the birth and infancy stages...

[Flexacon]

Very different assets and dynamics. But I think the point is, not to confuse (or be deterred) between short term volatility and a long term trend. The birth of an entirely new asset class (and indeed an entirely new global monetary system, replacing the state as the decider of how humans store value and exchange value) is bound to be volatile during the birth and infancy stages...

Nah the point was you should hodl and that's the only way to do it.

The maxis and hodlers on here don't believe in ever taking any profit. They even referenced you as an example of the hodl strategy.

I didn't correct them and say that you sold and actually took some profit along the way. In their opinion this strategy is a surefire way to lose money. You're one of the "fools" Gib!

[Mayday]

LoL

Gib is a good guy, he is a nice maxi 

HoDL has risk. Just ask the XRP HoDLers who are back in a bear market again.

I’ve said this before that the 64k top was supposed to be a 130k+ parabolic peak. It Got cut in half to enable distribution at a higher ave price for whales so they could dump into retail. Even today after a 53% nuke and 2 months of bleeding retail dry, plebs still argue it can’t be a top because it wasn’t parabolic.

If we had a 130k parabolic spike does anyone really think they’d be in right now? Just because we didn’t get that shape doesn’t mean the retail FOMO didn’t happen.

Americans are already complaining over KYC on overseas exchanges kissing their 100x leverage goodbye. So if we got to 64k with 100x leverage in play and now it’s 25x…… you begin to see the risk involved and That’s before they go hard after Tether and close down unregulated personal wallets.

[Theoak*]

Only a fool would compare a stock like Amazon to something like Bitcoin, so it's no surprise it's you making the comparison.

When was the last time Amazon stock price dropped over 50% or doubled in price over a couple of months?

Gotta love the cult like delusion. Are you also a scientologist?

Amazon traded down 80% on 5 occasions and down 95% on 1 occasion. 25 years later amazon trades at $3500. Baring any black swan event we wont see those draw downs again. Amazon has matured in that time. The question is, the fastest growing network with adoption rising at an exponential rate, where do you see Btc in 25 years from its inception (2033)? $3500?

[Mayday]

Americans are already complaining over KYC on overseas exchanges kissing their 100x leverage goodbye. So if we got to 64k with 100x leverage in play and now it’s 25x…… you begin to see the risk involved and That’s before they go hard after Tether and close down unregulated personal wallets.

FTX just announced 15mins ago they are reducing leverage.

Max allowable is now 20x

Other exchanges will follow.

[Jakobslander]

Americans are already complaining over KYC on overseas exchanges[...]

But, but, but... Bitcoin is decentralized! And un-confiscatable!

Meanwhile the Justice Department keeps having BTC liquidation rounds every week and the US government keeps rounding up all the addresses and uncovering who is behind them. And then, out of the blue, one day:



I tell you what... Tone Vays' and Willy Woo's bunker better be deep enough because people are going to be looking for them.

[polychronopolous]

But, but, but... Bitcoin is decentralized! And un-confiscatable!

Meanwhile the Justice Department keeps having BTC liquidation rounds every week and the US government keeps rounding up all the addresses and uncovering who is behind them. And then, out of the blue, one day:



I tell you what... Tone Vays' and Willy Woo's bunker better be deep enough because people are going to be looking for them.

Ah so it's all been set up and ran by some guy behind a curtain who controls the network and will swoop in and snatch our satoshis up at any given moment 

[Jakobslander]

Ah so it's all been set up and ran by some guy behind a curtain who controls the network and will swoop in and snatch our satoshis up at any given moment 

Damn, that's what you got from my comment?

LOL

[Flexacon]

Amazon traded down 80% on 5 occasions and down 95% on 1 occasion. 25 years later amazon trades at $3500. Baring any black swan event we wont see those draw downs again. Amazon has matured in that time. The question is, the fastest growing network with adoption rising at an exponential rate, where do you see Btc in 25 years from its inception (2033)? $3500?

Those crashes were in the early days of Amazon or as a result of dotcom or 2008.

What event caused bitcoin to dump? There are no definitive answers.

There are very few definitive answers when it comes to bitcoin. Is it currency? A store or value? A hedge against a financial crash? decentralized? There are holes in any pro bitcoin argument. Will we get to the point where we live in a digital world and bitcoin becomes a "collectors item"? I wouldn't actually bet against that.

Does Bitcoin have the best minds in the cryptospace working on it's development. Not really, most of them are tied to Ethereum. Your point about adoption rising at an exponential rate. That's not unique to bitcoin and bitcoin has yet to meet its biggest challengers. Government coins.

All we know for certain is Bitcoin was first and the price occasionally rockets up and flash crashes.

Despite all that, I am actually bullish on bitcoin right now. Not because I believe in it, but because of the recent monster filing dumped on the DTCC website. It looks like they intend to actually start regulating the US financial markets. The game will be over for a lot of the big players/manipulators and I can only see them taking their game to one place..

[Flexacon]

This explains hodl mentality better than anything I've seen

[polychronopolous]

$30 Billion State-Managed Pension Fund Invests in Publicly Traded Bitcoin Miners


New Jersey’s pension fund has gained indirect exposure to Bitcoin and cryptocurrencies by investing in their mining companies.

The pension fund with $30 billion in total assets of its state employees took stakes in two of the biggest names, Riot Blockchain and Marathon Digital Holdings.

According to the state-managed pension fund’s disclosure documents, Common Pension Fund D had $3.66 million in Riot Blockchain and $3.39 million in Marathon at the end of June.

RIOT stocks are currently trading at $28.10, down 64% from mid-February all-time high of $77.90, but still up nearly 12% YTD. As for MARA shares, at $24.64, it is down 56.4% from its early April peak of $56.56 but still up 13.6% YTD.

This is New Jersey’s first allocation in the crypto sector, with other state-pension schemes also getting warmer to crypto in recent months, particularly California through its largest public pension in the U.S.

At the end of last year, California Public Employees' Retirement System (CalPERS), with $441 billion in assets, bought more RIOT shares for the first time since 2017 and was holding 113,034 shares in RIOT worth just under $2 million at the time.

https://bitcoinexchangeguide.com/30-billion-state-managed-pension-fund-invests-in-publicly-traded-bitcoin-miners/