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

[Flexacon]

I will buy ETH at $88.
Bitcoin cannot be lower than $12,000

If ETH hits $88 then it's probably dead.

[obsidian]

So far prices are ok. Was the bad news baked in already? Feels like that.

[FitnessFrenzy]

[Slapper]

Folks, don't forget that hundreds of thousands of coins from the Mt Gox heist will be distributed to investors in early August.

Although I don't think it's going to be catastrophic to the price, you can rest assured a lot of those coins are going to hit the market immediately.

GBTC used to undergo similar unlocking events and they ALWAYS resulted in price dumps.

[El Diablo Blanco]

Folks, don't forget that hundreds of thousands of coins from the Mt Gox heist will be distributed to investors in early August.

Although I don't think it's going to be catastrophic to the price, you can rest assured a lot of those coins are going to hit the market immediately.

GBTC used to undergo similar unlocking events and they ALWAYS resulted in price dumps.

I didn’t know they recovered the coins. Why wouldn’t they go back to the original owners?

[Thin Lizzy]

I don’t see how you could know how much of that is already priced in.

That’s why I use the trend as my first filter.

It cuts through all the bullshit. I don’t give a shit how compelling the story, if the trend is clearly down, I don’t bite.

[Slapper]

I didn’t know they recovered the coins. Why wouldn’t they go back to the original owners?

Some judge in Japan got involved, ordered and investigation that lasted many years and has ordered the coins returned now in August.

Like I said, I own GBTC from pre-split and I got busted so MANY times by the "this time is different" crowd on the unlockings that I can honestly see BTC dropping below 15k once these coins hit the market.

[Griffith]

ETH will eventually flip BTC.

[Slapper]

ETH will eventually flip BTC.

Next bull run is going to happen.

People now understand that BTC is the cassettes of the 1980s and ETH is the CDs + Maxis are obnoxious as fuck + it isn't decentralized not un-confiscatable.


 

[Thin Lizzy]

Bear market rallies seem impressive until you pan out a bit:

[Flexacon]

Bear market rallies seem impressive until you pan out a bit:

It nice though if you played for the bounce 

[Thin Lizzy]

It nice though if you played for the bounce 

It was a nice support break reversal. Lotta traders must’ve got caught leaning the wrong way.

[Mayday]

A lot of bottom signals fired sub 20k. I took some positions. Most alts refused to budge lower while BTC dumped, very interesting.

Grayscale was bought very hard up to the 15k mark as soon as price moved up from lows. I think we had 17.5k low on spot so it seems it’s kind of ballpark where big money is buying up to.

I’d be looking for DXY to break 1.10 and head to 1.20 before reversal. I assume we see 17k again if the DXY goes skywards.

[loco]

Tesla cashes out $936 million in Bitcoin, after a year of crypto turbulence

https://www.npr.org/2022/07/21/1112689091/bitcoin-tesla-selloff

[Mayday]

Microstrategy posted a 900M loss.

Saylor removed as CEO and now chairman of the board apparently to free him up to focus on Bitcoin acquisition.

[Thin Lizzy]

Microstrategy posted a 900M loss.

Saylor removed as CEO and now chairman of the board apparently to free him up to focus on Bitcoin acquisition.

Brutal short squeeze in Coinbase:

[Mayday]

I’m all in now 

[Thin Lizzy]

I’m all in now 

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

[Flexacon]

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

There was a lot leverage unwinding in that drop. Forced selling from lenders like Celsius and projects like luna as they crashed to zero.

But you might be right and lows get retested as September is nearly always a big red month for crypto (or maybe this now is the typical September drop everyone expects and it got front ran)

Don't think it really matters though. Buying crypto when btc is 20k or buying when it's 15k doesn't make much difference if you plan on holding until btc is 100k.

I got some Eth at sub 1k which helped me average down big time. Will buy more if it drops there again otherwise happy to sit in cash and use it to play some stocks once the bottom looks in.

[Mayday]

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

I don’t use stops or leverage. I’ll just hold if I get it wrong, it’s money I had from crypto I sold back in December 2021.

Cutting to the chase We also haven’t had a final leg down.

My own strategy says we may have 4 months of rallying on S&P with a potential for a YOLO ATH. This  falls inline with seasonality for crypto and also my belief the market gets rate cuts and QE wrong in Jan which is what will trigger the leg down.

2013 as a reference. With enough people flushed out it created a perfect storm for a YOLO event because sentiment was so heavily to the downside the rush in was biblical.

[Mayday]

ATH before year end.

 

[Theoak*]

I don’t use stops or leverage. I’ll just hold if I get it wrong, it’s money I had from crypto I sold back in December 2021.

Cutting to the chase We also haven’t had a final leg down.

My own strategy says we may have 4 months of rallying on S&P with a potential for a YOLO ATH. This  falls inline with seasonality for crypto and also my belief the market gets rate cuts and QE wrong in Jan which is what will trigger the leg down.

2013 as a reference. With enough people flushed out it created a perfect storm for a YOLO event because sentiment was so heavily to the downside the rush in was biblical.

Another leg down below this year's lows would entail another perfect storm I believe. Lending firms in chapter 11 going into liquidation, Mt Gox releasing 100k+ btc to creditors which could be sold on open market and also interest rates being bumped up.

Elections around November so if a low is going to be put in its between now and then.

[Mayday]

Another leg down below this year's lows would entail another perfect storm I believe. Lending firms in chapter 11 going into liquidation, Mt Gox releasing 100k+ btc to creditors which could be sold on open market and also interest rates being bumped up.

Elections around November so if a low is going to be put in its between now and then.

Absolutely…. But….

2023
2026
2032
2035

Funny 2032 is exactly 10yrs away….. maxis gunna get wrecked if crypto doesn’t recover for 10yrs…..

[Mayday]

Biden pauses student loan payment until January 2023.

Forgives 10k of student loans.

Biggest crypto degenerates getting primed. All that is needed is some stimmy now…….

I bought more yesterday.

[Theoak*]

Absolutely…. But….

2023
2026
2032
2035

Funny 2032 is exactly 10yrs away….. maxis gunna get wrecked if crypto doesn’t recover for 10yrs…..

Maxis is a term coined by Vitalik around 2015, any "Maxi" holding since  then is most certainly not rekt.

If BTC doesn't recover in 10years all the centralised shitcoins around it have no chance aswell. Likelihood of that  happening is very low. I guess that's why you went all in.