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

[FitnessFrenzy]

[Mayday]

Be interested to see how much the raise interest rates this week and the effect it has on the market. Or is that already being priced in and we see a pump in all markets?

The sell off is because of the CPI print. Market believes 0.75% rate hike now.

If we get a 0.75% hike this week, market will nuke under the assumption July will also be 0.75%.

This would trigger the mass deflationary event that I always bang on about. We need this in order to reset and allow inflationary policies/outcome.

[Mayday]

Great clip to watch. Enjoyed listening to the story. Thanks for posting.

[Mayday]

Forming a beautiful setup for crypto to be sent to Hades.

BTC price is 21.4K and degenerate alleyway spastics keep longing alts with the fury of a thousand Spartans.

BTC losing dominance and now 45.6%. As we move closer to 20k the intensity of moronic longs on high leverage gets higher as everyone ‘bought the bottom, knife grabbed, bought the dip’ for every coin other than the one that actually creates the entire market.

We go sub 20k now and into freefall as spot will dump like crazy as the first time below the previous ATH is achieved 👀

For anyone in alts just remember not only do you get the price drop but you also will be hit with the reset against BTC valuation. For example SOL is currently $28 but the correct value is $15. Therefore we go to $5…….

[Thin Lizzy]

The Fed is an instrument of the Financial establishment. That the media goes on endlessly about the Fed speaks volumes, as if a bunch of dipshit academic economists are really running things😂

To use the Vegas analogy, this is the house:


Primary Dealers
Amherst Pierpont Securities LLC
ASL Capital Markets Inc.
Bank of Montreal, Chicago Branch
Bank of Nova Scotia, New York Agency
BNP Paribas Securities Corp.
Barclays Capital Inc.
BofA Securities, Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse AG, New York Branch
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman Sachs & Co. LLC
HSBC Securities (USA) Inc.
Jefferies LLC
J.P. Morgan Securities LLC
Mizuho Securities USA LLC
Morgan Stanley & Co. LLC
NatWest Markets Securities Inc.
Nomura Securities International, Inc.
RBC Capital Markets, LLC
Societe Generale, New York Branch
TD Securities (USA) LLC
UBS Securities LLC.
Wells Fargo Securities, LLC

[Griffith]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

[Mayday]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

Griff…… I am cruel to be kind.

21k BTC with ETH at adjusted  value is $630……

The problem is alts are not adjusting their valuation to BTC because everybody is buying alts.

So we go down on BTC, Obliterate everybody in order to reset the BTC valuations of alt. What happens is BTC goes to 11k and valuations get reset meaning ETH could tap $330 range and suddenly you are making a fuckload  more next run.

The question is, if you wait, will you be correct. I have no issue waiting and I’ll post my buy prices and what I bought if people are interested. 

[Humble Narcissist]

I sincerely hope Getbiggers cashed out their crapto currencies by now.

[obsidian]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

One thing is for sure and that is the dollar is doomed eventually. I find it laughable that people are talking about how strong the dollar is and everything has gone up in price by a huge amount. Car wash, coffee, groceries, gas. High gas prices affects the price of everything, even bananas. Good thing I raised my fees 2 years ago by almost 50%. A $10,000 fee became $15,000.

Anyway, I will be getting some cash ready soon to buy these at these lower prices. I'll be looking at Ethereum, Cardano, Shiba, Doge and I guess Bitcoin also. Might trade into XRP also.

I did not cash out of crypto again just like 2018 lol! So very low prices are preferable for me. Everyone had the timing of the peak wrong. People were forecasting Ethereum going to $10-20k and nobody foresaw the Ukraine invasion. This is one of the main drivers of the economic turmoil we are seeing now IMO, besides all the quantitative easing that occurred in 2020 / 2021.

[obsidian]

I sincerely hope Getbiggers cashed out their crapto currencies by now.

Going to HODL to zero.

Don't underestimate human greed. Once the bottom is hit we might go sideways for a while as happened in 2018-2020. Once it rips up again people will go balls deep back in. Because people are greedy and will have a fear of missing out. The one thing of course that could fuck all this up is an all out nuclear war. Then all bets are off and you can say bye bye crypto, dollar etc. But then your main goal is survival in a Madmax-like scenario. If you're not killed by the blasts or radiation.

[obsidian]

Until we see Bitcoin regain market control the bottom is not in.

Is there a rule that says this has to happen? Remember there's a lot of locked up staking in Ethereum, Cardano etc. This means people won't panic sell because they literally can't. That brings a lot of "diamond hands" to the alt-coin market. The cryptosphere is different now compared to 2018.

Locked Staking is absolutely a good thing when it comes to price stability. In a way it is like a parent who locks their children's savings in a piggy bank.

[FitnessFrenzy]

BTC $ 20,183.97 

[Griffith]

Griff…… I am cruel to be kind.

21k BTC with ETH at adjusted  value is $630……

The problem is alts are not adjusting their valuation to BTC because everybody is buying alts.

So we go down on BTC, Obliterate everybody in order to reset the BTC valuations of alt. What happens is BTC goes to 11k and valuations get reset meaning ETH could tap $330 range and suddenly you are making a fuckload  more next run.

The question is, if you wait, will you be correct. I have no issue waiting and I’ll post my buy prices and what I bought if people are interested.

Whether 600 or 300 even better.

I'm in no rush either and will wait to see how things unfold.

[FitnessFrenzy]

ETH $ 1,111.61

[Griffith]

One thing is for sure and that is the dollar is doomed eventually. I find it laughable that people are talking about how strong the dollar is and everything has gone up in price by a huge amount. Car wash, coffee, groceries, gas. High gas prices affects the price of everything, even bananas. Good thing I raised my fees 2 years ago by almost 50%. A $10,000 fee became $15,000.

Anyway, I will be getting some cash ready soon to buy these at these lower prices. I'll be looking at Ethereum, Cardano, Shiba, Doge and I guess Bitcoin also. Might trade into XRP also.

I did not cash out of crypto again just like 2018 lol! So very low prices are preferable for me. Everyone had the timing of the peak wrong. People were forecasting Ethereum going to $10-20k and nobody foresaw the Ukraine invasion. This is one of the main drivers of the economic turmoil we are seeing now IMO, besides all the quantitative easing that occurred in 2020 / 2021.

Agreed.

I will mostly be focusing on ETH though and maybe a small amount of XRP as well.

[Flexacon]

I did not cash out of crypto again just like 2018 lol! So very low prices are preferable for me. Everyone had the timing of the peak wrong. People were forecasting Ethereum going to $10-20k and nobody foresaw the Ukraine invasion. This is one of the main drivers of the economic turmoil we are seeing now IMO, besides all the quantitative easing that occurred in 2020 / 2021.

I got out on the May 21 peak and I foresaw the Ukraine invasion. Even briefly mentioned it on here.

Still got my fingers burnt getting back in on 2 of my 3 main positions.

Bears are in full control of the price in a way I didn't think would be possible any more. It's still all one huge ponzi.

[Mayday]

Is there a rule that says this has to happen? Remember there's a lot of locked up staking in Ethereum, Cardano etc. This means people won't panic sell because they literally can't. That brings a lot of "diamond hands" to the alt-coin market. The cryptosphere is different now compared to 2018.

Locked Staking is absolutely a good thing when it comes to price stability. In a way it is like a parent who locks their children's savings in a piggy bank.

Depends what you believe.

Belief of price/value comes first then supply/demand takes effect. I have posted this here a few times because it’s the better way of understanding price psychology in order to forecast. 99% don’t think like this and call me a Redard.

On chain data shows lowering of supply on exchanges while at the same time price plummets. Nobody seems to get it, belief in price mix in market has shifted. Less coins today than November yet price is -50%. Kinda telling that on chain people really fucked up here and PlanB is a moron. What on chain is awesome for is short term movements to/from exchanges. You see the preload on exchanges for a dump and you see it back off for a pump.

Staking is good but I think it’s more to save yourself from your own weak hands rather than hold up the price. I have my HEX staked because I wanted it for 2024 and figured I’d get 15%/yr so why not.

[Coach is Back!]

https://www.thegatewaypundit.com/2022/06/bitcoin-crumbles-crypto-falls-another-sign-emerging-recession/

[Humble Narcissist]

https://www.thegatewaypundit.com/2022/06/bitcoin-crumbles-crypto-falls-another-sign-emerging-recession/

Real estate dropping as well.

[Mayday]

https://www.thegatewaypundit.com/2022/06/bitcoin-crumbles-crypto-falls-another-sign-emerging-recession/

In my thread I said Q2 2022 recession and we have stimmy bucks in Q4 2022 and go again in 2023.

Gurus were saying 2023 recession.

So far, my strategy wins. Q2 GDP data currently showing 0%, it doesn’t take much for June to dip and send it to a negative and then it’ll be an official recession.

Property price decline is a bear trap. It’ll go again in 2023 and catch people off guard. Particularly regional, it’ll launch to Mars all over again.

[obsidian]

I got out on the May 21 peak and I foresaw the Ukraine invasion. Even briefly mentioned it on here.

Still got my fingers burnt getting back in on 2 of my 3 main positions.

Bears are in full control of the price in a way I didn't think would be possible any more. It's still all one huge ponzi.

Care to find that post where you saw the Ukraine invasion - in 2021? I am not aware of anyone in crypto discussing a potential Ukraine invasion by Russia in 2021. Ethereum peaked at close to $4,900 in late 2021. Obviously had I known that was the peak we all thought I would have sold the ETH that was not staked. But everyone was expecting it to rip to $10,000, $14,000 or even higher, per the 2017 Bitcoin bull run.

I am not saying the Ukraine invasion is the only reason for the drop. Ethereum even ripped back up to over $3,500 on April 3 / 4 of this year. Kind of a shock to me that we are now sitting so low. The Luna / Terra mess is what really got the panic sell buttons going for a lot of people. It shook their faith in crypto. Hopefully people learned from that and the Celsius mess - for the sake of crypto's future.

[obsidian]

In my thread I said Q2 2022 recession and we have stimmy bucks in Q4 2022 and go again in 2023.

Gurus were saying 2023 recession.

So far, my strategy wins. Q2 GDP data currently showing 0%, it doesn’t take much for June to dip and send it to a negative and then it’ll be an official recession.

Property price decline is a bear trap. It’ll go again in 2023 and catch people off guard. Particularly regional, it’ll launch to Mars all over again.

Yes I remember you mentioned it. Time will tell. To be honest if Ethereum drops down to $300 in the short term I'd actually be happy about it and buy at that price. Just need to make sure I have cash ready on an exchange if that happens.

Jerome Powell mentioned another potential 0.75 rate hike coming in July, until they get the inflation under control. I 've read some comments by people and they are saying raise it all the way up to 9-20% fast and get it over with lol. What do you think would happen if they did that?

[Mayday]

Yes I remember you mentioned it. Time will tell. To be honest if Ethereum drops down to $300 in the short term I'd actually be happy about it and buy at that price. Just need to make sure I have cash ready on an exchange if that happens.

Jerome Powell mentioned another potential 0.75 rate hike coming in July, until they get the inflation under control. I 've read some comments by people and they are saying raise it all the way up to 9-20% fast and get it over with lol. What do you think would happen if they did that?

The Fed got the command from Biden so 0.75% hikes and maybe 1% in July if they don’t see the CPI and the sharemarket break.

We aren’t far off a deflationary event. I’m back in Consumer land now after being headhunted and it’s a mess right now.


As for crypto Celsius is insolvent and 3AC got liquidated and the CEO fled to Dubai. This has not even hit the pricing yet. It turns out these big funds we thought were all hedged and/or shorting were all mad long degenerates and got liquidated. So now, we wait and then itll be confirmed they are fucked and their holdings will be liquidated. People in the funds will lose 100% of their holdings and upon selling the holdings it nukes the price.

Don’t be surprised if this play out inside of a week.

[Thin Lizzy]

The downward pattern to date has been that the S&P hits an implied resistance level: Moving Average(100/200), Large Round number (4000), round number percentage decline (10/20%). It then either bounces around or rallies and then resumes the downtrend.

The place to be is cash.

[Theoak*]

The Fed got the command from Biden so 0.75% hikes and maybe 1% in July if they don’t see the CPI and the sharemarket break.

We aren’t far off a deflationary event. I’m back in Consumer land now after being headhunted and it’s a mess right now.

Hopefully these head-hunters come across some of your predictions over the past 20months in this thread and can get you on their books at an extreme discount  🤣.

Seriously, thought this cycle might be different myself. Unfortunately the market is no where near mature enough yet still holding up surprisingly well considering multiple black Swan events. How long it can sustain the onslaught if/when last capitulation wick down is any ones guess.

I was overly confident  we wouldnt venture near previous cycles ATH. A few more lower CPI prints with ceasing of QT and market "should" improve. Times like these I just  turn away from pricing, last 2 bear markets were brutal on me emotionally. This one hasn't had the same effect.....yet.

This whole 3AC seems to be centred around defi, degen shitcoins? This could be good for btc.

Celsius I've heard they are illiquid rather than  insolvent, who knows at this point? They have alot of wbtc  and steth in the vault and rumours are wall St trying to liquidate them. If that happens it's discount time for everyone ballsy enough to enter the market.