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

[Mayday]

On the Tether side, withdrawals have started happening and market cap coming down. It’s just a small blip for now but I’m eyeing the November 74B level. If we start seeing it rip down lower it kind of sets a story because this isn’t retail movement.

seems my chart was not updated for today. Tether market cap now 74B, down from 83B peak 2 weeks ago.

In 2018 before the capitulation USDT had a 30% drop in market cap. We are 11% down, watching for the 61B-68B range now.

Generally speaking less tether means less buying interest from big players. It’s also a derisk strategy for when shit is about to go haywire.

[Theoak*]

seems my chart was not updated for today. Tether market cap now 74B, down from 83B peak 2 weeks ago.

In 2018 before the capitulation USDT had a 30% drop in market cap. We are 11% down, watching for the 61B-68B range now.

Generally speaking less tether means less buying interest from big players. It’s also a derisk strategy for when shit is about to go haywire.

I hope it does a UST, I've taken out many 5 year loans using Btc as collateral for usdt and then converting to $$ on an exchange.
If USDT was to trade at 10cents I'd buy the required tokens to close out my loan. In order to close out the loan, you have to pay in tokens that were issued to you.

I don't see USDT collapsing even with up coming regulation.  Even if they did one theory would be people buying into btc on the way down. I don't see that either.

[Mayday]

I hope it does a UST, I've taken out many 5 year loans using Btc as collateral for usdt and then converting to $$ on an exchange.
If USDT was to trade at 10cents I'd buy the required tokens to close out my loan. In order to close out the loan, you have to pay in tokens that were issued to you.

I don't see USDT collapsing even with up coming regulation.  Even if they did one theory would be people buying into btc on the way down. I don't see that either.

No, Not a collapse.

It’s a signal that money to buy coins (USDT) is being redeemed and removed from market.

On chain shows thousands more BTC loaded onto exchanges.

If we have less USDT and more BTC one could think we are going to see a dump in price.

The 4hr chart has enough in it right now to belt BTC. Have to wait and see. Market maker could send it up instead and try to squeeze more blood.

[Mayday]

Target getting wrecked pre market after announcing they are cutting their profit outlook.

Just like I have banged on about, consumer market is allergic to raising prices and are now paying the price due to stock outs and absorbing supplier price increases.

No inventory = revenue drop
Not raising prices to consumers fast enough or high enough = profit drop

Wrecking ball hitting home now as they’ll all adjust outlooks one by one. Then some smart bottoms will realise if they raise prices high enough in Q4 they won’t run out of inventory

[Thin Lizzy]

Target getting wrecked pre market after announcing they are cutting their profit outlook.

Just like I have banged on about, consumer market is allergic to raising prices and are now paying the price due to stock outs and absorbing supplier price increases.

No inventory = revenue drop
Not raising prices to consumers fast enough or high enough = profit drop

Wrecking ball hitting home now as they’ll all adjust outlooks one by one. Then some smart bottoms will realise if they raise prices high enough in Q4 they won’t run out of inventory

Beat me to the punch on Target. So, I’ll go with this, worst performing Industrial Industry: Building products. Doesn’t bode well for the housing market.

Also, Target says they saw the biggest slowdown in apparel and home goods. Like the saying goes, you can wear last year’s clothes but you can’t eat last year’s food.

[Mayday]

Beat me to the punch on Target. So, I’ll go with this, worst performing Industrial Industry: Building products. Doesn’t bode well for the housing market.

Also, Target says they saw the biggest slowdown in apparel and home goods. Like the saying goes, you can wear last year’s clothes but you can’t eat last year’s food.

Haha I was hoping to Beat you 

Housing is wrecked pretty bad. Here on prison island the co-owner of the  largest home builder off’d himself and now the company has administrators going in. All builders here in the same boat with fixed price contracts but then supply delays, weather delays and suddenly prices are 30%+ and they got caught out. I think we are actually ahead of the US here.

Some builders simply hit up owners for 70k or we can’t complete and wrecked. People borrowed to the max, don’t have 70k cash lying around so they get wrecked.

On a crypto note, approaching a crossroad in the coming few days. Either rally up hard or go down hard.

[Thin Lizzy]

Haha I was hoping to Beat you 

Housing is wrecked pretty bad. Here on prison island the co-owner of the  largest home builder off’d himself and now the company has administrators going in. All builders here in the same boat with fixed price contracts but then supply delays, weather delays and suddenly prices are 30%+ and they got caught out. I think we are actually ahead of the US here.

Some builders simply hit up owners for 70k or we can’t complete and wrecked. People borrowed to the max, don’t have 70k cash lying around so they get wrecked.

On a crypto note, approaching a crossroad in the coming few days. Either rally up hard or go down hard.

This is a real estate trust company that was out-performing the market but has tanked badly in the past month giving back all the past year’s gains.

[obsidian]

It was on Twitter under his own Twitter handle.

Vitalik sold the top, well it was $4,100.

The reality of generation 1 crypto is this…… it’s at the top of the S curve and all these OGs are likely going to abandon Gen 1 and start Gen 2 👀

There is enough data now to see the retail peak was April 2021 at 64.5k. That’s a 3.3x from 2017 peak and guess what? ETH did the exact same 3.3x. ETH only performed well from its bottom but did the same expansion from its peak.

BTC 2025 target is 96k. If it can break 100k then maybe 120-130. That’s a 1.5x and at best a 2x. You think these OGs will hang around for a 2x after making 10,000x? Nope.

The best thing possible right now is for an 11k BTC price because it means OGs and developers can buy the bottom cheap and still make a nice 10x or so return. ETH @ $600 is a great reason for Vitalik to stay. Give Vitalik a 2k ETH with a 7k peak with 3yrs of watching his project sell jpegs of rocks and he will walk and start on something else.

The alternative is he starts a new project and from scratch makes 10,000x vs 2x in the same time and will have a better performing platform than ETH.

I am not seeing a source that claims he sold most of his ETH at $4,100. The Ethereum foundation sold 70,000 Ethereum back in 2018 I believe at a price of around $1,400. I think Vitalik moved around 300,000 ETH to a cold storage wallet a year or so ago. I am sure he has sold some Ethereum over the years but not his entire stack.

If Vitalik walks on Ethereum that would just mean he is a quitter and abandoning a community that invested in it. I doubt he would do that. He would lose credibility if he did that. Ethereum is his creation along with his co-founders and I think he wants to see it through at least to the point of the merge and the solving of the transaction speed issues. He was speculating on getting Ethereum to almost 1 million transactions per second.

After that he could probably step back and move on to other projects. But he would probably still be involved with it for an undetermined time into the future. Hopefully Ethereum can function without his involvement if need be. There are many talented, intelligent developers involved with Ethereum. If Ethereum's survival depends on Vitalik alone it would confirm Jack Dorsey's recent statement about the "many single points of failure" that he sees with Ethereum. So it would be best to get the Ethereum project to a point where a single human does not affect the survivability of the project.

[Flexacon]

If Vitalik was in it for the money he could have sold the $6 billion worth of shiba that was in his wallet.

[Mayday]

If Vitalik was in it for the money he could have sold the $6 billion worth of shiba that was in his wallet.

He did.

He dumped his ETH. He dumped the Shiba.

Dude is looking for the exit. Look at LUNA founders who all dumped and scammed users then are launching a new coin lol.

ETH to 7,600 in 2025. You have millions at that point dude, start enjoying your gains, life and be happy. You have done awesome, be proud!

[Flexacon]

He did.

He dumped his ETH. He dumped the Shiba.

Dude is looking for the exit. Look at LUNA founders who all dumped and scammed users then are launching a new coin lol.

ETH to 7,600 in 2025. You have millions at that point dude, start enjoying your gains, life and be happy. You have done awesome, be proud!

He sent his ETH to a different wallet, probably for more privacy and to sell when needed. No one really knows.

He burnt most of the shiba (sent a bit to charities in India). Over $5 billion thrown away though. Never trust people in crypto, but you can trust autism. Only an autist is throwing away that kinda money.

Do kwon is the opposite. Luna was actually his second pump and dump. He did another previously under a Rick and Morty alias. I was hoping he'd pump the crypto market, crashing it is kinda a gift too for those in cash.

"start enjoying your gains, life and be happy. You have done awesome, be proud!" This is too positive bro, we don't do that here on getbig 

[OneMoreRep]

Man, anyone else noticing the ass whooping the SEC is getting from its case against Ripple?

Ripple has a masterful team of lawyers (Matthew Solomon is a beast). With the way Ripple is ragdolling the SEC, I wouldn't be surprised if this sets a precedent that helps the crypto industry tremendously.

I've sure as hell loaded up on some $XRP.

"1"

[robcguns]

Man, anyone else noticing the ass whooping the SEC is getting from its case against Ripple?

Ripple has a masterful team of lawyers (Matthew Solomon is a beast). With the way Ripple is ragdolling the SEC, I wouldn't be surprised if this sets a precedent that helps the crypto industry tremendously.

I've sure as hell loaded up on some $XRP.

"1"

Hell yeah. I hold quite a bit of Xrp.

[Theoak*]

Man, anyone else noticing the ass whooping the SEC is getting from its case against Ripple?

Ripple has a masterful team of lawyers (Matthew Solomon is a beast). With the way Ripple is ragdolling the SEC, I wouldn't be surprised if this sets a precedent that helps the crypto industry tremendously.

I've sure as hell loaded up on some $XRP.

"1"

You can't just create 100billion coins out of thin air and issue it to yourself and your friends while holding 50billion tokens in reserve. Then start selling it on the market while using celebrities also to push your coin and ultimately dumping on retail. You're crossing and ethical and legal line. What case does XRP have? The law is pretty much black and white in that regard, it's a security and should be delt like one along with all the other shitcoins. 

It missed its bullrun while even dog coins were hitting ATHs. Once SEC classifies it a Security that will pave the way for all other shitcoins to be put under the scope. If I'm right, where will the money flow into?

[Mayday]

He sent his ETH to a different wallet, probably for more privacy and to sell when needed. No one really knows.

He burnt most of the shiba (sent a bit to charities in India). Over $5 billion thrown away though. Never trust people in crypto, but you can trust autism. Only an autist is throwing away that kinda money.

Do kwon is the opposite. Luna was actually his second pump and dump. He did another previously under a Rick and Morty alias. I was hoping he'd pump the crypto market, crashing it is kinda a gift too for those in cash.

"start enjoying your gains, life and be happy. You have done awesome, be proud!" This is too positive bro, we don't do that here on getbig 

I heard about the wallet move but Word was he sold at 4,100. regardless of how much he sold, he sold which is the point.

I didn’t know that about DK having a prior rugpull. Crazy and in for his 3rd go on the new fork.

Grayscale premium getting even worse. My feed full of ‘rally is imminent’ talk but that exactly how it felt at 38k. It’s definitely decision time though, either got to go up and maybe to 40k or dump.

[obsidian]

He did.

He dumped his ETH. He dumped the Shiba.

Dude is looking for the exit. Look at LUNA founders who all dumped and scammed users then are launching a new coin lol.

ETH to 7,600 in 2025. You have millions at that point dude, start enjoying your gains, life and be happy. You have done awesome, be proud!

He burned most of the Shiba they gave him and the rest was donated to India.

https://techcrunch.com/2021/05/12/vitalik-buterin-donates-1-billion-worth-of-meme-coins-to-india-covid-relief-fund/

Looks like he moved 30,000 ETH out of around 320,000 ETH to another wallet recently.

https://www.fxstreet.com/cryptocurrencies/news/can-ethereum-price-hold-as-vitalik-buterin-sells-30-000-eth-202205170811

[Theoak*]

He did.

He dumped his ETH. He dumped the Shiba.

Dude is looking for the exit. Look at LUNA founders who all dumped and scammed users then are launching a new coin lol.

ETH to 7,600 in 2025. You have millions at that point dude, start enjoying your gains, life and be happy. You have done awesome, be proud!

Still think Eth will flip Btc market cap?

Seems like every month an "Eth killer" is propping  up taking a piece  of the pie.

Yet not one coin  has come close to challenging BTC as store of value. Slowly but surely btc is solving scalability and smart contracts on layer 2.

Funny quote I seen the other day "Eth is the mother asshole from where all shitcoins are birthed from.

[Mayday]

Still think Eth will flip Btc market cap?

Seems like every month an "Eth killer" is propping  up taking a piece  of the pie.

Yet not one coin  has come close to challenging BTC as store of value. Slowly but surely btc is solving scalability and smart contracts on layer 2.

Funny quote I seen the other day "Eth is the mother asshole from where all shitcoins are birthed from.

Well We’re trying to reset after a top so it’s a case of what does the bottom look like as nothing is flipping anything right now.

 ETHBTC was 0.02 before the last bullrun and now it’s 0.067 After a year from retail user peak, that’s a big difference and shouldn’t be dismissed easily.

Bitcoin narrative as store of value seems to be accepted which is great. That’s all it needs to do because it’s too slow for anything else. Be good at storing value by being less volatile, just means you get less gains.

[Thin Lizzy]

Tesla breaking a triple bottom.

[Spike]

spent the rest of my BTC on some anabolics and igf- invest in yourself when the market bottoms out

[deadz]

ALL gamblers eventually lose.

[Thin Lizzy]

Strong late reversal.

[Thin Lizzy]

That’s been happening since the start of the downturn. When the market breaks support or an implied support level: 100/200 day moving average, S&P 4000, and others, it goes back an forth a few times. It’s a way for the Market Makers to work traders. But, the end result so far has been new lows::

[Mayday]

That’s been happening since the start of the downturn. When the market breaks support or an implied support level: 100/200 day moving average, S&P 4000, and others, it goes back an forth a few times. It’s a way for the Market Makers to work traders. But, the end result so far has been new lows::

I woke up at 230am, checked US market, bloodbath, back to sleep and wake up at 630am, checked US market, green, LoL.

Tesla getting some hate, it’s got a loooong way back to 2020 price. If you can’t build anything you can’t deliver anything you can’t invoice anything but hey, we’re all gunna have an electric car each during WW3. Tesla share price should absolutely get smashed to oblivion, send to $165, send Apple to Hades aswell.

BTC wick becomes the future daily close, 25.5k to be a new daily grind soon. 19k doesn’t look so bad if we’re at 25k daily price—> Death by a thousand paper cuts.

Monkey virus starting to trend on prison island media. The WHO have all the power now. Certainly feels like a deflationary event type of setup going to happen here. March 2020 repeat?

[Flexacon]

Still think Eth will flip Btc market cap?

Seems like every month an "Eth killer" is propping  up taking a piece  of the pie.

Yet not one coin  has come close to challenging BTC as store of value. Slowly but surely btc is solving scalability and smart contracts on layer 2.

Funny quote I seen the other day "Eth is the mother asshole from where all shitcoins are birthed from.

Basically Bitcoin wants to be a bit more like Ethereum and Ethereum wants to be a bit more like Bitcoin.