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

[Mayday]

Without $5 trillion is free government cash, how will crypto go back up to the pandemic peaks?

Answer: it won’t ever until free cash is sent out to the masses again.

Yes.

My strategy factored this deflationary to reset CPI before the Fed can go again.

Recession in Q2. Plebs get crushed in Q3, Stimmy bucks in Q4 and we go again in 2023 for the next inflationary wave is my plan.

Ive been good on the economic side but have got the market sell off timing wrong. hence the saying markets can remain irrational longer than you can remain solvent.

Anyhoo, I’m just waiting for the bottom.

[Mayday]

BTC the bottom has to look different just like the top did.

When we came down to 38k from 48k everyone said we would rally. It then went 36k, we will rally, 34k we will rally, 32k we will rally, 30k we will rally, 28k-29k the bottom is in and we will rally……

Now imagine 25k, we will rally, 23k, 21k, 19k, the bottom is in, 17k ummmm, 15k oooooo fffffuark…..

A slow bleed of stepping down allows good distribution and giving people ‘hope’ allows people to stay in longer and ‘buy the dip’ only to sell later when it keeps dipping.

[Thin Lizzy]

Here’s where I see the eventually bottom for Ether:

[FitnessFrenzy]

lizzy, i would argue the bottom is higher

[Thin Lizzy]

lizzy, i would argue the bottom is higher

You might be right but when you reach the latter part of a pump and dump the circus has packed up and moved to another town and all that’s left are the suckers holding the bag and little by little they sell as the price moves lower.

Look at the Bitcoin ETF, a dog from the word go:

[Mayday]

You might be right but when you reach the latter part of a pump and dump the circus has packed up and moved to another town and all that’s left are the suckers holding the bag and little by little they sell as the price moves lower.

Look at the Bitcoin ETF, a dog from the word go:

Bear market rally on stocks is nice. My feed was instantly bullish, bottom is in blah blah. People gunna get rugged hard on this one as Fed has not done a pivot yet. Rate rises and recession all still yet to play out, this rally is miles to early.

Pissing in the wind S&P to tag 4260, deviation to 4300 perhaps and then nuke down to 3600. What say you?

Crypto price point is using ETHBTC. It will break below 0.05 and head to 0.03 or so for next level. If that’s at 20k then ETH price is $600.

If BTC gets to 15k then the ratio might be 0.02 which is $300 but that’s being a crazy worst case scenario.

For Now I gather BTC will rallly like the S&P did and head towards 38k then gets nuked hard.

[Thin Lizzy]

One of the stocks Bloomberg cited as a “Notable Mover” was Rivian.

[Thin Lizzy]

Looks impressive until you pan out a bit:

[Mayday]

Looking at BTC dominance and the structure behaviour still hasn’t changed it’s ways. We had a good thing going on with alts bleeding out but now we have degenerates going long 100x on alts in preparation for a Monday rally……. Dominance drops from 47% to 46%.

Dominance is an oscillating trend. Starting 70%+. Drop to Low 39%. Rise to Peak 47%.

From the first bottom BTC got back to 47% then price rose 20% more while alts blasted upwards bringing the dominance back down to 39% low.

From the second bottom BTC got back to 47% (near enough) but price had peaked while alts blasted upwards bringing the dominance back down to 39% low.

This is the 3rd wave with BTC at 47% dominance…… meaning we are already at the peak of the wave and alts would like to move up. BUT we face the conundrum of the 2nd wave indicating that the last time the wave had peaked, BTC was already at peak price…….

[Mayday]

Reversal printing on BTC.

My feed is full of spastics calling for ATH.

I see 38k at the top. I’m not taking any positions, I’m just waiting for the bottom.

The bear market rally in shares is based on front running the Fed which always ends in tears therefore price goes lower than today.

[Mayday]

BTC 27.5k and ETHBTC lost support and working towards lows.

BTC to tap 25.5k. ETH and alts in a bloodbath right now.

I’m still patiently waiting for the bottom, it isn’t in yet.

[El Diablo Blanco]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money. 

[GymnJuice]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money.

Essentially they bought votes through pandering, special interests etc. The average Joe loses.

[Thin Lizzy]

Face it the circus is packing up and moving to another town. Better off working the short side at this point:

[Thin Lizzy]

It will be interesting to see how low Tesla eventually goes. I’ve never seen a stock with this big of a market cap that’s so manipulated.

I’d bet it goes down to least 300 probably lower.

[Mayday]

Lots of people will be taking huge losses on their tax returns next year.  Welcome to reality after the gov fucked the economy royally by giving away $5 trillion in Monopoly money.

The story goes, someone had a few mill in Luna then sold into UST and staked it. UST now 0.03 and the person has a massive tax bill outstanding from the LUNA sale which they can’t pay because their stable coin lost 97%.

When I did my sale For last tax year I kept the money aside in my bank account. So many get wrecked not doing this.

[Mayday]

It will be interesting to see how low Tesla eventually goes. I’ve never seen a stock with this big of a market cap that’s so manipulated.

I’d bet it goes down to least 300 probably lower.

Historic PE ratio on equities is something like 15 when we get a reset.

Some of them are already there. S&P500 is at 21 so not really that far off the Fed’s target. Apple 22, Facebook 22, Google 20. Then we have Tesla at 97 (fkn lol) and Amazon at 55.

Nobody is affording a Tesla each and Amazon already said they are downsizing not just staff but warehousing aswell. At some point they’ll be diced up and that will help the S&P correct towards a P/E ratio of 15.

[Flexacon]

BTC 27.5k and ETHBTC lost support and working towards lows.

BTC to tap 25.5k. ETH and alts in a bloodbath right now.

I’m still patiently waiting for the bottom, it isn’t in yet.

This piece of shit didn't even bounce this time 

If btc (and eth) doesn't bounce soon to mid 30k I've basically wasted the last 6 months on this

[Mayday]

This piece of shit didn't even bounce this time 

If btc (and eth) doesn't bounce soon to mid 30k I've basically wasted the last 6 months on this

Not wasted if you learned.

Price now…… 25.6k. Fkn BOOYAH!

We are in economic land where and fiscal and monetary policy take over. Don’t get burned otherwise you have no cash to buy which is infinitely important right now.

CPI needs to go down, therefore rates need to go up, unemployment needs to go up. Equities and risk sell off to reset levels. THEN we can go again.

For crypto structure Until we see BtC dominance moving towards 58% we continue to move downwards. We are still at 48% as many alts refuse to sell off. So we go lower and won’t stop until they capitulate.

Celsius gunna rug pull 👀

[Mayday]

I mentioned here earlier about Celsius going to rug pull……

They just sent out an email saying freezing all withdrawals, swaps and trades between accounts.

people who staked with them just got wrecked because not only can you not access your coins anymore but you don’t even know if you will ever get them back. If they go under, bye bye coins and you lose the lot.

[epic is back]

can any of you btc holders explain how you turn it into usd and have a account full of cash that you can actually spend?

[Mayday]

can any of you btc holders explain how you turn it into usd and have a account full of cash that you can actually spend?

Crypto exchange. Sell from BTC to USD. Withdraw from exchange to bank account. Spend.

All traceable and taxable.

[Mayday]

BTC 24.1k

BTC dominance at 48.3%, barely flushed anyone out……

[obsidian]

BTC 24.1k

BTC dominance at 48.3%, barely flushed anyone out……

People selling now are morons. The dollar is not stronger because shit is getting more expensive everyday. And we saw the inflation numbers. So why would you want to hold depreciating dollars? Maybe they think they can get more cryptos at the bottom. Problem is you don't know where that is. If I knew where the bottom was I'd sell with the aim of getting more. But now when there is blood in the streets is the worse time to sell. Best time to sell is when there is a sea of green, if you really must sell.

The crypto community as a whole should band together and just refuse to sell anything. I personally have not sold anything. I've said before I am willing to ride it down to zero if need be. I'd rather hodl to zero than sell and see it go to the moon. That's just me. And my Ethereum is locked up in staking anyways so I literally can't sell. This is one reason why staking in crypto is important. Let's see how low it goes.

I do think it is pathetic that people are panicking and selling.

[obsidian]

I mentioned here earlier about Celsius going to rug pull……

They just sent out an email saying freezing all withdrawals, swaps and trades between accounts.

people who staked with them just got wrecked because not only can you not access your coins anymore but you don’t even know if you will ever get them back. If they go under, bye bye coins and you lose the lot.

They are trying to prevent a run on the bank. Tradfi banks would do the exact same thing. Wait for things to cool down and let it trickle out if it must. Like a pressure relief valve.

If things recover I will eventually do solo Ethereum staking. Not going to trust a Coinbase or Celsius with staking anymore, unless they provide guaranteed protections. If a Storage Facility goes bankrupt can they seize the contents of their storage units? Hell no! So why can't crypto assets have the same protections?