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

[Bindare_Dundat]

I cant stand the fact as to how tied together all these crypros are. You can toggle through BtC, Ethereum   Cardano, doge and the candles, RSI, stochastic  etc...almost all look the same. Lol what a joke.

Wouldn't it raise flags if you scrolled through the Dow and everything looked almost identical.  Just goes to show how much crypto is run by automated bots.

[BossBoss]

I cant stand the fact as to how tied together all these crypros are. You can toggle through BtC, Ethereum   Cardano, doge and the candles, RSI, stochastic  etc...almost all look the same. Lol what a joke.

Wouldn't it raise flags if you scrolled through the Dow and everything looked almost identical.  Just goes to show how much crypto is run by automated bots.

You have to buy bitcoin to buy most altcoins, if you sell you sell most likely also for bitcoin.
That could be the reason why they move together. + Is it not true that the price is calculated first in BTC and after that in $,€ etc. ?

[Army of One]

That part didn't make much sense to me either, but someone posted this info last night and even gave the time and dip price fairly accurately. Who knows what Elon is doing with crypto behind closed doors.

Tesla is also getting fucked with by Michael Burry. He's taken a $500million short position against Tesla (almost half his portfolio). Wolves are circling around Elon.

There may still be another barrage coming from China against Elon.

It wasnt Elon, it was Justin Sun.

[Bindare_Dundat]

You have to buy bitcoin to buy most altcoins, if you sell you sell most likely also for bitcoin.
That could be the reason why they move together. + Is it not true that the price is calculated first in BTC and after that in $,€ etc. ?

No that's not it. Its bot trading. they read the market and act accordingly. That's why everything drops at the same exact time and goes up the exact time more often than not. Too.much of the market is influenced by these things. There will be exception here and there but overall its these stupid things.

Some of the patterns they create look ridiculous. Definitely not human trading. Next time I see some ill post them for the board.

[BossBoss]

No that's not it. Its bot trading.man. ..

Some of the patterns they create look ridiculous. Definitely not human trading. Next time I see some ill post them for the board.

please do, would be interesting to see.

[Flexacon]

It wasnt Elon, it was Justin Sun.

Didn't he just buy shit loads of BTC and ETH in the dip?

You have to buy bitcoin to buy most altcoins, if you sell you sell most likely also for bitcoin.
That could be the reason why they move together. + Is it not true that the price is calculated first in BTC and after that in $,€ etc. ?

Yeah pretty much. Most coins are paired with bitcoin.

[Bindare_Dundat]

Yeah pretty much. Most coins are paired with bitcoin.

oi think that's changed quite a bbit over the last few years wiith things like weeble and robinhood. but I'll look into it

Who's Justin sun?

Anyone know how they calculate the Fear/greed meter?

[Flexacon]

I think that's changed quit a bit over the last few years wiith things like weeble and robinhood. but I'll look into it

Places like robinhood take all crypto purchases/sales and feed it into an algorithm to garner profit for themselves. In a lot of cases when people buy or sell on there robinhood don't actually do anything. They just wait for users to cash out at a loss. So deposit $500, trade for a month, cash out $400. Robin hood don't do anything with your trades, they just keep that $100 you lost for themselves. Remember the are far more losers than winners on those trading apps

Also when there are big price movements and increased selling and buying like with doge SNL and the bitcoin dump yesterday, they'll conveniently go down. Those type of events leave their system open to heavy loses.

USDT is another shill. I have already posted how they are trying to avoid an audit. They don't hold the reserves to back the sums they hold.

Binanace doesn't hold billions in USD, it holds bitcoins which is tied to the USD. Alts on exchanges are therefore tied to bitcoin and not USD. Everything else is either an illusion or a house of cards.

Your point about bots does hold some truth though. They aren't however manipulating alt coin prices, it's just arbitrage.

[Bindare_Dundat]

Places like robinhood take all crypto purchases and feed it into an algorithm to garner profit for themselves. When there are big price movements and increased selling and buying like with doge SNL and the bitcoin dump yesterday, they'll conveniently go down. Those type of events leave their system open to heavy loses.

USDT is another shill. I have already posted how they are trying to avoid an audit. They don't hold the reserves to back the sums they hold.

Binanace doesn't hold billions in USD, it holds bitcoins which is tied to the USD. Alts on exchanges are therefore tied to bitcoin and not USD. Everything else is either an illusion or a house of cards.

Your point about bots does hold some truth though. They aren't however manipulating alt coin prices, it's just arbitrage.

Thanks for the clarification.  I was sweeping over the internet but the answers were all over the map.

Yea , the tether situation is sketchy.

[gib]

Yea , the tether situation is sketchy.

No more sketchy than banks, who also have issued for more debt than they have assets for, And all the more reason to own BTC and HODL. Because when the shit hits the fan with either banks or tether, there are 2 options. You either lose a shitload of money, or the government bails it out with printed money (which results in currency devaluation).

[obsidian]

George as usual gets to the bottom. Whales sent Bitcoin and Ethereum to exchanges and then withdrew it again which caused panic selling. A bank known for manipulating silver for which they were fined is now releasing FUD about people selling Bitcoin for Gold. After one day? I would they know this so quickly? Don't fall for the FUD. Be smart. HODL that shit forever and take little withdrawals if you must at higher prices.

[obsidian]

Bank FUD:

JPMorgan: Institutional Investors Ditch Bitcoin For Gold
https://www.pymnts.com/news/investment-tracker/2021/jpmorgan-institutional-investors-ditch-bitcoin-for-gold/

JPMorgan to pay $920 million for manipulating precious metals, treasury market
https://www.reuters.com/article/jp-morgan-spoofing-penalty/jpmorgan-to-pay-920-million-for-manipulating-precious-metals-treasury-market-idUSKBN26K325

[obsidian]

You have to buy bitcoin to buy most altcoins, if you sell you sell most likely also for bitcoin.
That could be the reason why they move together. + Is it not true that the price is calculated first in BTC and after that in $,€ etc. ?

Not anymore. That's how it used to be. Now you can buy alts directly.

The reason they all dump is because idiots get scared and panic sell when they see Bitcoin drop because they think the bull run is over. And meanwhile whales come in and buy their weak hands.

[El Diablo Blanco]

Sooooo....    why aren't we making a GetBig coin then?

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

[obsidian]

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

There's bullshit like that. But there are many legitimate cryptos that will not go anywhere and will change finance.

You can find scams in all walks of life. One company offers great remodeling while another gets paid a deposit upfront and never show up to do any remodeling.

[Flexacon]

George as usual gets to the bottom. Whales sent Bitcoin and Ethereum to exchanges and then withdrew it again which caused panic selling. A bank known for manipulating silver for which they were fined is now releasing FUD about people selling Bitcoin for Gold. After one day? I would they know this so quickly? Don't fall for the FUD. Be smart. HODL that shit forever and take little withdrawals if you must at higher prices.

I posted a day or 2 before the dip that bitcoin value was dropping and gold was climbing, so I don't think it's FUD as it was already in the news. But yeah even if you bought BTC at 60K you'll probably x1.5 in 6 months if you hodl.

[Bindare_Dundat]

Not anymore. That's how it used to be. Now you can buy alts directly.

Exactly what I thought.

[BossBoss]

Not anymore. That's how it used to be. Now you can buy alts directly.
..

Yeah, it is more user-friendly and more convenient because nobody understands why they should buy btc first.
What you see is:

$>Alt

and not

$>BTC>Alt
or
$>Tether>Alt

But thats how i think it still goes. Even if you can buy your favorite alt directly with $.

[polychronopolous]

Which is why I'm not shook.  It's a coordinated attack on Bitcoin.  This dump happened sooner than I thought it would, but I was expecting a huge dump sometime soon. 

I'm not selling, I'm buying more crypto at a huge discount.

Smart man.

This market requires a more composed temperament that many of our overly skittish getbig brethren simply do not possess.

[Flexacon]

Yeah, it is more user-friendly and more convenient because nobody understands why they should buy btc first.
What you see is:

$>Alt

and not

$>BTC>Alt
or
$>Tether>Alt

But thats how i think it still goes. Even if you can buy youre favorite alt directly with $.

If people buying can't understand that $>Alt no longer makes it decentralized then they kinda miss the whole point of crypto.

Also people need to do their due diligence and understand that on some trading platforms you're not actually buying an Alt directly, you're buying the Alt price the platform is willing to offer you at that time and they typically get that price from exchanges which use $>BTC>Alt.

This is also all without including the whole needing to take offline to truly own it route.

[gib]

I posted a day or 2 before the dip that bitcoin value was dropping and gold was climbing, so I don't think it's FUD as it was already in the news. But yeah even if you bought BTC at 60K you'll probably x1.5 in 6 months if you hodl.

Both Gold and BTC will climb and act as a defence to fiat currency devaluation.

[FitnessFrenzy]

$ 41,910.14

very strong BTC comeback

[LurkerNoMore]

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

Yeah, that is what I meant.  We could use Arce's photo on the coin.   
Did that black guy get to keep the $100M or whatever?

But what happens when some new coin comes on the market and gets a small blow up and then... nothing?

[BossBoss]

But what happens when some new coin comes on the market and gets a small blow up and then... nothing?

Then the coin is dead..and it will stay dead bec. it is a shitcoin without development or future.
-----------
Best would be if you fork a already good coin like zcash or something like that.
But you have to develop something..you need a roadmap with your plans

Only a picture and a good story is most likely not enough.

[sync pulse]

If you are going to accept the risk of speculating on exchange based financial instruments...Why not do stocks, bonds, and commodities?