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

[Thin Lizzy]

Word is the Fed is going to come in at 0.75% tomorrow…….

The big banks have been recording record trading profits. Of course, the media has no interest in knowing the actual trades. How did they make all this money in a down market🤔

My bet is that their main play has been to short Treasuries.

[Flexacon]

The spastics on social media don’t agree and are under the illusion that miners use mostly free energy and therefore won’t sell because there are no costs. The fuckwittery is getting to biblical levels.

Although something interesting is the decoupling of hash rate and price. usually price goes up and we see hash rate go up. Today we have hash rate at new ATH but price is -40% 🤔


Microstrategy also posted earnings…… let’s be real, he had board permission to source credit and is fine. They know full well he was going all out and there would have been an agreed sell strategy at certain price points along with a plan to drip feed selling BTC to service debt. All he needs to do is service debt.

124, 391 BTC @ $30,159 blended price. The guy is sitting comfortably for now and 30k is perfectly fine.

My guess is that a lot of the new mining set ups have their primary operation (producing electricity, oil extraction etc) so don't need to rely on selling mined bitcoin to keep the lights on. They can hodl and wait for a better price if they want.

Add to that energy providers and the oil industry are seeing huge profits because of what's going on with Russia. They might be better off deferring the selling of their mined bitcoin and hold it as unrealized profits.

[Flexacon]

I’m a trend guy who is agnostic about Crypto. No way you can come to any other conclusion other than that the current trend is down.

The current trend is down, but bitcoin is not the whole crypto market. Some crypto (the vast majority) have done worse over the past year, but there are still quite a few that are up.

[Thin Lizzy]

Fed fueled rallies are typically short lived but this one didn’t even last a day:

[Thin Lizzy]

This is shaping up as dot com bust 2.0:

Another tech darling bites the dust:

[Thin Lizzy]

👎

[affeman]

The biggest Ponzi scheme in human history is down to its last breath. Plenty of virtual "millionaires" will be wiped out in the course of the next few months

[TheGrinch]

This is shaping up as dot com bust 2.0:

Another tech darling bites the dust:

shopify is bleeding money because adspend on social media for small biz is no longer profitable since the IOS 14.5 update last year imo

[Thin Lizzy]

shopify is bleeding money because adspend on social media for small biz is no longer profitable since the IOS 14.5 update last year imo

They all have an excuse. Zillow blamed its algorithms.

[a_pupil]

Where's our resident whale Gib?

[Flexacon]

They all have an excuse. Zillow blamed its algorithms.

Excuse is accurate, because a few tech/ecommerce/online marketplace stocks dumped even on good news.

Most have given up their pandemic gains and some are even trading lower than they did pre pandemic and pre money printing.

This isn't dot.com 2.0 though because these are companies that actually do something and are or were building to be viable businesses. Crypto crashing and taking everything down with it would be dot.com 2.0, but it still shows surprising strength over that the last 26 months. These are definitely strange times.

[OneMoreRep]

Waiting for the Crypto market to truly hit rock bottom and then will venture into Quant/$QNT big time.

"1"

[Mayday]

BTC drops to 36.5k and BTC dominance drops…….

Alt coins gunna get a major rugging real soon with such high levels of spasticity in the market.

I’m only interested in the reset, Low target BTC 28.5k and see what happens. Mid May 👀

[Thin Lizzy]

Excuse is accurate, because a few tech/ecommerce/online marketplace stocks dumped even on good news.

Most have given up their pandemic gains and some are even trading lower than they did pre pandemic and pre money printing.

This isn't dot.com 2.0 though because these are companies that actually do something and are or were building to be viable businesses. Crypto crashing and taking everything down with it would be dot.com 2.0, but it still shows surprising strength over that the last 26 months. These are definitely strange times.

It seems like what happened is that a lot of the newly created money went into the tech sector and all of the stocks are now over valued. Sure there are real companies that do real things but I suspect they’re all going to take some serious further hits before this is done.

If Google were to fall another 33% it would still be a TRILLION dollar company.

[Thin Lizzy]

I’d say this is a pretty solid piece of evidence that we’re headed for a bumpy ride:

Food and electricity holding up well.

New houses and shit you don’t need doing badly:

[Mayday]

I’d say this is a pretty solid piece of evidence that we’re headed for a bumpy ride:

Food and electricity holding up well.

New houses and shit you don’t need doing badly:

The wind down movement started in December 2021 pretty much but the supply/demand data now is suggesting it’s close to a bottom. DXY is also back at highs without a policy shift in spending so I’d assume at this point the odds are a further sell off happens.

Wants that you want are thin on inventory. We’ll be utterly fucked by Christmas.

As for BTC…..

[Mayday]

You see, 33.8k and BTC dominance at lows is a big problem mmmmkay.

[Flexacon]

Shit is indeed hitting the fan! Can't even start averaging down yet as gbp is so weak right now.

Vix doing me a solid though

[Thin Lizzy]

I’ll stand behind this statement:

Looks like traders and hedge funds piled into oil and got worked. They deserve it. It’s a stupid strategy to try to chase returns at a time like this. Instead of thinking about how to make money your top priority should be how to not lose it. Cash is the place to be.

[Thin Lizzy]

Amazon continuing the trend of companies getting hit on earnings and continuing to tank afterwards:

[Mayday]

BTC 30.8k but dominance barely moved at 41.8%. BTCETH also barely moved at 0.073.

The sell off looks pretty savage on the 4hr.

Waiting for 28.8k target which is previous bottom.

Capitulation move in full is generally -50%. This started from 38k which gives us a target of 19k.

ETHBtC needs to sell off to 0.055 then rug pull to 0.03

 

[obsidian]

BTC 30.8k but dominance barely moved at 41.8%. BTCETH also barely moved at 0.073.

The sell off looks pretty savage on the 4hr.

Waiting for 28.8k target which is previous bottom.

Capitulation move in full is generally -50%. This started from 38k which gives us a target of 19k.

ETHBtC needs to sell off to 0.055 then rug pull to 0.03

ETH circulating supply is around 120 million
BTC circulating supply is around 19 million

There's 6.3 times more ETH in supply than Bitcoin

1/6.3 = 0.16 rounded off

0.073 ETH is undervalued against BTC in my opinion. To be honest ETH should be at $5,000 right now if only the supply of ETH vs BTC is looked at. ETH has other benefits like staking which provides incentives to hold. The ETH merge narrative, all the use cases, network effect, the potential deflation in the horizon, and the reduced energy consumption in the switch to POS.

Interesting that ZEC has the same max supply cap as BTC at 21 million.

I personally hold zero BTC. It's not interesting to me. Dorsey claims ETH is not interesting to him because it has many single points of failure. First he never really gave examples. BTC's weakness to me is the high energy consumption and the question about what will secure the network once the last bit of BTC has been mined. As a store of value the slow transaction speed is not an issue with BTC IMO.

[El Diablo Blanco]

Why are people shocked that crypto and stocks are down? Guess what? People aren’t getting free money. No more extra $2400 a month for a lazy ass unemployed blob.   No more billions given out fraudulently to who knows.   The country was fleeced for trillions and a lot of people were throwing money at crypto and stocks creating huge inflated numbers.   Now they’re coming back to earth since people aren’t flush with free cash anymore.

[obsidian]

Why are people shocked that crypto and stocks are down? Guess what? People aren’t getting free money. No more extra $2400 a month for a lazy ass unemployed blob.   No more billions given out fraudulently to who knows.   The country was fleeced for trillions and a lot of people were throwing money at crypto and stocks creating huge inflated numbers.   Now they’re coming back to earth since people aren’t flush with free cash anymore.

Nobody is shocked. Literally everyone is screaming the sky is falling. I don't care. I am holding my crypto bags down to zero if need be. Some of my crypto is staked and locked up.

I'll buy more if cryptos crash down a lot. Need to get some cash ready for that.

[Vince G, CSN MFT]

where is venom vodoo vince to explain all of this "finance" stuff to us?

.
Just wanted to remind you guys making fun of me back then