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

[Flexacon]

Tesla is out already my friend

Heaps of institutions already dumped.

Where do you think the 50% dump came from?  Retail hasn’t priced it in yet.

PS my Mum joke was awesome. I had a chuckle, just meant to be light hearted. Apologies if it came across as having a go.

Well I did say I was gonna shut the noise out until things are done playing out. Institutions dumping shows me I'm on the right track. There is still time for further dumping from smaller institutions. I'm not too concerned about retail paper handing, if they do that just means even cheaper buy in prices .

Institution will buy back and it will create fomo again. The lower the price crashes the faster it will shoot up. The window of opportunity will be a very brief!

Generally the same people who believed 300K are the ones shouting end of the world now. Emotional rollercoaster is how people get caught out and miss opportunities, just saying bro..

[Mayday]

Absolutely I’m hoping 30k holds. I am more than happy to wait and pay a premium on price after I see the bull market get strong again. Give it 5-7 more days of FUD and let’s see things after the dust clears.

On the upside El Salvador will own 150M in BTC in a few months time which offsets 10% of the 1.5B Tesla dump.  Combine that with Saylor’s 500M and we have half of Tesla’s dump covered. I’m pretty sure I can get my sister to chuck in tree fiddy, a few more people and we are 🚀 

[Theoak*]

Absolutely I’m hoping 30k holds. I am more than happy to wait and pay a premium on price after I see the bull market get strong again. Give it 5-7 more days of FUD and let’s see things after the dust clears.

On the upside El Salvador will own 150M in BTC in a few months time which offsets 10% of the 1.5B Tesla dump so we got that to be pretty happy about yeah?   Jk 

If btc breaks 30k my feeling is it wont even last a day before it is bought back up by the big boys.  They've  already accumulated 270k btc in the last 2 weeks.

El salvador will have 150m in USD and the merchants will have the opportunity to convert to fiat instantly via their holdings if they dont want to hold btc.

[Mayday]

If btc breaks 30k my feeling is it wont even last a day before it is bought back up by the big boys.  They've  already accumulated 270k btc in the last 2 weeks.

El salvador will habe 150m in USD and the merchants will have the opportunity to convert to fiat instantly via their holdings if they dont want to hold btc.

Very heavy order book at 30k and Saylor will place more. Big players bought at 30k for the bounce to 39k. Same at the 31k bounce to 34k-35k.  If price retraces from here you will know it’s these same
Institutions dumping into retail buyers again. Unsure whether they will protect Saylor, Miami apparently put a target on his back.

There is a lot of FUD yet to come. Tesla. Iran. Mexico. Will be interesting how the market reacts.

[El Diablo Blanco]

Seems the US gov is scooping up bitcoins from seizures. They just got a lot from the Anom sting. Fuckers might be massive holders now.   I think they learned their lesson when they auctioned off a bunch for cheap that could have been worth billions. Now they’re holding on to them.

[LurkerNoMore]

Y'all ignoring my question on which wallet is best for storing shitty meme coins in because y'all got an answer for such a hard question I suppose.

Anyway, from what I have read it seems that the US will be the last to really incorporate digital currency on a large scale until they figure out how the gubbyment will get their cut

[Thin Lizzy]

Financial news networks are talking about bitcoin 20K. So we’re probably at a short term bottom

[sync pulse]

.

[Mayday]

Financial news networks are talking about bitcoin 20K. So we’re probably at a short term bottom

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

[Flexacon]

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

Not concerned about that. I'm actually bullish.

Last time BTC dipped into the low 30s I managed to pick up ETH under 2k, ADA at 1.20 and DOT at 18 (they actually traded even lower) This time they didn't go anywhere near those prices. I'm reading that as people who bought alts in the dip, hodled. No dip, no bounce.

[Thin Lizzy]

That’s a fair call but the rally stopping at 36.5k is worrying.. I thought we might see a short squeeze and head above 40k because shorts are crazy heavy right now.

For alts yesterday it looked like a switch was flicked off. BTC went up and alts didn’t move with it for the first time in months. Risk is no money flow into alts.

My guess is that it’s going to bounce around in a range for a while. People underestimate how long that can happen. Look at Apple. Essentially nowhere since September.

I’v found that when the media starts making calls, you don’t wanna go in that direction but you also don’t want to go the opposite way. Sitting on the sidelines is usually the right move.

[El Diablo Blanco]

yes this is a dip, but where is the bounce going to come from?  Biden is not giving away hundreds of billions to people anymore.  I told you guys, estimate was about 10-20% of the stimulus checks went into crypto. We're talking 10-20% of a 1/2 trillion dollars in cash.  Most of those people cashed out and probably paid all cash for a house.

[Flexacon]

yes this is a dip, but where is the bounce going to come from?  Biden is not giving away hundreds of billions to people anymore.  I told you guys, estimate was about 10-20% of the stimulus checks went into crypto. We're talking 10-20% of a 1/2 trillion dollars in cash.  Most of those people cashed out and probably paid all cash for a house.

If you're so certain of this (you've posted it maybe a dozen times) Why don't you short bitcoin and make yourself some money?

[El Diablo Blanco]

If you're so certain of this (you've posted it maybe a dozen times) Why don't you short bitcoin and make yourself some money?

Too late, I could have killed it a month ago.  I am not even sure how to short.  Look at how and why it went up.  What is going to be the boost to do it?  Seems the US gov is scooping up a shitload from criminals.  Are they going to run the market up?

[Bindare_Dundat]

Well that was one hell of a pump.  lol I missed this one unfortunately. damn.....

Crypto....lol

[Flexacon]

Too late, I could have killed it a month ago.  I am not even sure how to short.  Look at how and why it went up.  What is going to be the boost to do it?  Seems the US gov is scooping up a shitload from criminals.  Are they going to run the market up?

Institutional money, hedge funds, banks, commodity traders. Loads of groups have yet to get involved, at least not openly. Also once it becomes easier to buy and sell through banking apps or other established platforms it will see an even bigger influx of users.

I don't see bitcoin dying just yet and I'm someone who doesn't even like it that much.

[Flexacon]

Well that was one hell of a pump.  lol I missed this one unfortunately. damn.....

Crypto....lol

Don't worry it will dump again pretty soon.

Hate to be that guy, but I don't see the prices going anywhere close to ATH yet.

I expect to see BTC bouncing around 30k to 40k a couple more times. Eth between 1.8k and 3k. Both might go past those ranges, but it will only be briefly. If this pattern plays out I'll buy back in confidently. Until then just buying various alts in the dips.

[Mayday]

Well that was one hell of a pump.  lol I missed this one unfortunately. damn.....

Crypto....lol

Good short squeeze, people were asking for it.

Twitter feed Instant laser eyes, calling anyone who sold idiots, bagging ETH, daring the US govt to try and stop them. If they don’t have a continuous stream of buyers after they liquidate the shorts it’ll be a come to Jesus meeting straight after.

Apparently Biden is making a specific address about Bitcoin today? It isn’t going to be unicorns and rainbows.

[gib]

Well that was one hell of a pump.  lol I missed this one unfortunately. damn.....

Crypto....lol

Some of the biggest pumps in BTC occur 5 or some times a year, over a period of days. If you miss out on those being out of the market, you miss out on substantial gains over time. Which is one more good reason to HODL.

[Theoak*]

Microstrategy closing the 500million deal today......Be an interesting weekend.

[Mayday]

Microstrategy closing the 500million deal today......Be an interesting weekend.

Funds date is 14th June. He has cash already so the upticks now is probably partially him. He went in earlier on previous bond deals to take the market by surprise. If they know the date the market will front run him so he goes in earlier, possibly even before the announcement.

CPI is due out in 3hrs 20mins and it’s being front run right now on BTC tapping 38.4K.

I’m surprised we aren’t already into the low 40s to be honest.

[Bindare_Dundat]

Funds date is 14th June. He has cash already so the upticks now is probably partially him. He went in earlier on previous bond deals to take the market by surprise. If they know the date the market will front run him so he goes in earlier, possibly even before the announcement.

CPI is due out in 3hrs 20mins and it’s being front run right now on BTC tapping 38.4K.

I’m surprised we aren’t already into the low 40s to be honest.

How's the crypto market gonna read that I wonder.. If CPI comes out lower than expected will the market go up because they believe stimulus will continue, or will it go down if they think they will raise rates?

[Flexacon]

Funds date is 14th June. He has cash already so the upticks now is probably partially him. He went in earlier on previous bond deals to take the market by surprise. If they know the date the market will front run him so he goes in earlier, possibly even before the announcement.

CPI is due out in 3hrs 20mins and it’s being front run right now on BTC tapping 38.4K.

I’m surprised we aren’t already into the low 40s to be honest.

Have you stopped menstruating now

[polychronopolous]

El Salvador President Plans to Mine BTC Using Volcanoes


El Salvador recently became one of the first countries to approve a bill to make bitcoin legal tender within the country.

The move which was spearheaded by President Bukele earlier this week was passed today. Voting for the bill saw the motion adopted following a congressional vote of 62 in favor out of 84 votes.

The bill looks set to institute BTC as a method of payment, transactable through the direct exchange rate to the U.S dollar. Residents will also be able to pay taxes using BTC.

Following the ruling, President Bukele has wasted no time in reaching out to the state-owned geothermal electric company LaGeo. In a tweet, the president stated that El Salvador plans on utilizing the company “to offer facilities for Bitcoin mining with very cheap, 100% clean, 100% renewable, zero emissions energy from our volcanoes.” He concluded by saying “this is going to evolve fast!”

The move to offer sustainable BTC mining solutions by El Salvador comes after China has taken measures to crack down on BTC mining within the country. China has previously commented on its desire to “resolutely prevent the transfer of individual risks to the society.” 

Tesla CEO Elon Musk has also commented on the sustainability of BTC mining. The billionaire recently announced that Tesla would no longer be accepting BTC payments for orders on new vehicles. The reasoning related to the environmental impact that BTC mining has on the planet.

El Salvador has become the first country to adopt BTC as legal tender. And could also become the first country in the world to offer a unique and effective method of mining BTC through volcanoes.

https://beincrypto.com/el-salvador-president-plans-to-mine-btc-using-volcanoes/

[Mayday]

Have you stopped menstruating now

LOL 

I’m bored and this thread is not real active anymore. I was entertaining myself.


Without being absolutely hilariously funny like before, my view is this. We are in a bear market so we might see 11k and we may be messing around for a year or so. I touched on this months ago about how will 97% lose and I am seeing this play out right now.

It’s ok for HoDLers because you guys sit in for many years. I’m looking for entries into ETH and alts which are not things you really want to HoDL due to their 90%+ pullbacks.