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

[El Diablo Blanco]

We will look back on this as the biggest ponzu scam in history.

[oldschoolfan]

bitcoin is worthless, was invented to conduct illegal transactions and lets be honest that is what most people buy it for.

[robcguns]

Crypto will boom bigger than ever eventually. I see 5 trillion next run.

[Thin Lizzy]

I was hoping we’d just track along that level as S&P was ok. Was right for 4 months but breaking through was a bad sign.

The big boys won’t even touch BTC at 9k so…. Yeah……

The pattern has been a sharp drop followed by a long sideways channel. Makes it very hard to short. How many times did it go back and forth with 20k as a pivot point?

I also suspect the sharp rise in the S&P was traders leaning the wrong way thinking the stock market was gonna follow Bitcoin down. Market makers used the CPI report as a pretext to spike the market the other way.

[Flexacon]

Crypto will boom bigger than ever eventually. I see 5 trillion next run.

Long term I'm still very bullish too, but it could take a while. I think we're about to enter a 2015 type year long sideways market.

We'll get regulations coming in and this will allow traditional market makers to enter the space. Citadel, Virtu, Jane Street etc. They will probably use something similar to the FTX/Alemeda model, just without the degeneracy.

[Flexacon]

I like this James. He puts a lot of research into his videos, but he has to be one of the unluckiest (or worst) investors in the space.

He was a Luna bull, Sol bull, 3AC, Voyager, FTX hypeman. Yoloed BTC at the 48k march peak.

His main plays left are Tesla, Btc and Eth. If he maintains his track record we're all fucked.

[Theoak*]

I like this James. He puts a lot of research into his videos, but he has to be one of the unluckiest (or worst) investors in the space.

He was a Luna bull, Sol bull, 3AC, Voyager, FTX hypeman. Yoloed BTC at the 48k march peak.

His main plays left are Tesla, Btc and Eth. If he maintains his track record we're all fucked.

And celsius. He has 4btc stuck on  Celsius. That was just in referral fees. He capped his patrons membership at 10000 people and was charging up to $1200 a year.

[Flexacon]

And celsius. He has 4btc stuck on  Celsius. That was just in referral fees. He capped his patrons membership at 10000 people and was charging up to $1200 a year.

He is stealing a living!

All coins are pumped.

The only real difference seems to be some of the players take huge leverage against other people’s deposits..

Dominance hasn’t really changed between the top coins 

Here is what  BTC dominance looks like without stablecoin. It's due a pump (alt dump)

[Mayday]

The pattern has been a sharp drop followed by a long sideways channel. Makes it very hard to short. How many times did it go back and forth with 20k as a pivot point?

I also suspect the sharp rise in the S&P was traders leaning the wrong way thinking the stock market was gonna follow Bitcoin down. Market makers used the CPI report as a pretext to spike the market the other way.

I was correct with the S&P pump which I was using as my crypto shield. 4 months with only half a day of my position going underwater, I was cool as a cucumber until FTX lol.

My HEX and Hedron are still 15%-40% up from my entry (go figure) but a further propper nuke those will get sunk. They are my hedge if things go north so they’ll sit there.

IMO losing 17.5k is the worst case scenario for crypto. Unless this is a fakeout, 3.5k-6k….. 👀

He is stealing a living!

Here is what  BTC dominance looks like without stablecoin. It's due a pump (alt dump)

Given 15.5k barely budged the dominance needle.

Everyone waiting for 11k-13k so I wouldn’t think dominance will change all that much until we are well under that level and people begin thinking crypto is dead…..

[Flexacon]

Crypto.com is feeling the wrath of crypto twitter right for some sketchy shit involving Gate .io

Possible bank runs of both incoming.

My $150 on crypto.com are out of there 

Add Huobi to that too.

[Mayday]

Crypto.com is feeling the wrath of crypto twitter right for some sketchy shit involving Gate .io

Possible bank runs of both incoming.

My $150 on crypto.com are out of there 

[Humble Narcissist]

Hopefully everyone on here has sold their crypto by now.

[Slapper]

My HEX and HEdron positions are just above water.l those will drop shortly I think. That’s fine as they are 2025-26 timeframe anyway and I am happy to ride these out.

Mayday, how high do you reckon HEX could go in the next bull market?

[Slapper]

Hopefully everyone on here has sold their crypto by now.

You mean "every trader."

I invest, I don't trade. And I'm holding on to my cryptos like I did in 2017.

I am tired of paying taxes and financing the IRS. FTS!

[Mayday]

Mayday, how high do you reckon HEX could go in the next bull market?

My crypto bottom call was wrong so it means all my other crypto numbers will also be wrong and my assumptions on dominance will be wrong.

I waited almost 8 months for that entry from mid 50s down to 17.5k. Onto the next target now which is sub 8k.

[Humble Narcissist]

You mean "every trader."

I invest, I don't trade. And I'm holding on to my cryptos like I did in 2017.

I am tired of paying taxes and financing the IRS. FTS!

It appears that crypto is a terrible investment.

[GymnJuice]

It appears that crypto is a terrible investment.

It might be a bad investment, but I think it would be great if we transitioned to something that governments couldn't print out on a whim for handouts.

[Marty Champions]

Invest in whatever buisness that cashflows monthly

[robcguns]

My crypto bottom call was wrong so it means all my other crypto numbers will also be wrong and my assumptions on dominance will be wrong.

I waited almost 8 months for that entry from mid 50s down to 17.5k. Onto the next target now which is sub 8k.

Sub 8k would be awesome.

[Thin Lizzy]

From what I gather, these FTX guys are going to do some serious time. Apparently they used the deposits from the trading exchange to prop up their failing hedge fund. That’s fraud. They’ll probably be made an example.

[a_pupil]

Invest in whatever buisness that cashflows monthly

I'm hoping to scale up my landscaping business by starting a vegan restaurant with the lawn trimmings

[Thin Lizzy]

It’s amazing. For all the endless blathering about what the market is gonna do, it has gone a grand total of nowhere in the last six months.

[Humble Narcissist]

Invest in whatever buisness that cashflows monthly

Do you follow Grant Cardone?

[Thin Lizzy]

This guy was portrayed as a Bohemian but in reality he had like 200m of property in the Bahamas.


Sam Bankman-Fried’s $40m Bahamas penthouse reportedly up for sale | Cryptocurrencies | The Guardian


https://www.theguardian.com/technology/2022/nov/14/sam-bankman-fried-bahamas-penthouse-ftx-crypto

[Flexacon]

From what I gather, these FTX guys are going to do some serious time. Apparently they used the deposits from the trading exchange to prop up their failing hedge fund. That’s fraud. They’ll probably be made an example.

SamBF was running a good old fashioned ponzi on top of another ponzi crypto. He took advantage of the high risk, unregulated and speculative nature of the crypto space.

It's also very much worth pointing that crypto as an asset class wasn't what failed here. The SBF/FTX drama actually shows why centralized platforms are not ideal. The original thesis for crypto is decentralization. If FTX was a decentralized platform then the rug pull would not have been possible.