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

[polychronopolous]

Tesla CEO Elon Musk: Bitcoin On ‘The Verge Of Broad Acceptance’


Elon Musk, the billionaire chief executive of electric car-maker Tesla TSLA +4.1%, has said he thinks the soaring cryptocurrency bitcoin is on "the verge" of breaking into traditional finance.

Musk, who revealed last month he is open to being paid in bitcoin, made the comments during a wide-ranging interview on the app Clubhouse that also covered manned missions to Mars and Musk's implantable brain–machine interface Neuralink.

 "I do at this point think bitcoin is a good thing," Musk told a packed Clubhouse chat room, adding he doesn't "have a strong opinion on other cryptocurrencies."

"I am a supporter of bitcoin. I am late to the party but a supporter. I think bitcoin is on the verge of getting broad acceptance by conventional finance people."

Musk's comments put him at odds with many global central bankers and regulators who have recently warned bitcoin is primarily used for illicit purposes and to launder money.

 Musk said that people had tried to get him involved in bitcoin in the past, going back as far as 2013, when bitcoin was worth a fraction of what it is now—trading at under $100.

The bitcoin price has soared around 200% since October, surging to over $40,000 per bitcoin before falling back slightly. The blistering bitcoin rally has largely been put down to institutional investors warming to the cryptocurrency and payments giants such as PayPal PYPL +1.9% adding their support—though bubble fears have emerged.

Last week, Musk—whose tweets about bitcoin and joke cryptocurrency rival dogecoin often move the market—sent the bitcoin price sharply higher when he gave bitcoin a long-awaited tacit endorsement following restrictions being placed on the trading of company shares that have become a battleground for bullish retail traders organised via Reddit's WallStreetBets forum and Wall Street hedge funds that have long been shorting the stocks.

"I have to be careful what I say, it can affect the market," Musk said via Clubhouse, addressing the power of his near-45 million followers on Twitter.

 https://www.forbes.com/sites/billybambrough/2021/02/01/elon-musk-bitcoin-on-the-verge-of-broad-acceptance/?sh=7c28b06052c7

[Griffith]

ETH over $1500.

[Bindare_Dundat]

ETH over $1500.

 

[Army of One]

Are you claiming crypto of an unknown origin is an uncomplicated store of value? Haha.

?

You know the Bitcoin source code is open source right? Nothing stopping you from educating yourself and learning exactly how it works.Its origin is irrelevant for understanding it.

[obsidian]

ETH over $1500.

Wow that took forever fuck me! Hopefully it will double in short order. Many people are super bullish about Ethereum.

[Mayday]

BTC @36.1k. We should see an attempt to break above 37.2k. If it can do it and use that level as support, giddyup towards 55k. If it gets rejected, not so nice.

I have a small position in ETH but that’s just a longer hold and only bought from profits, not my original investment.

I’m still playing safe and waiting for BTC to either prove it can rally and hold or crash and burn.

[Theoak*]

BTC @36.1k. We should see an attempt to break above 37.2k. If it can do it and use that level as support, giddyup towards 55k. If it gets rejected, not so nice.

I have a small position in ETH but that’s just a longer hold and only bought from profits, not my original investment.

I’m still playing safe and waiting for BTC to either prove it can rally and hold or crash and burn.

Seen people like you new to crypto over the past 7years since I've  been hodling thinking you can out trade the market. It all ends up the same, Rekt.
Have people  like SOMEPARTS who are content to pass up a 20000% + gain because they inherently believe the bitcoin eco system is flawed....keep grinding that 9-5.
Then others like you who take  a bet each way, state your position for the long term. Either it crashes and burns or becomes one of the best investment  vehicles weve ever seen....

Have a watch:

[obsidian]

[Mayday]

Seen people like you new to crypto over the past 7years since I've  been hodling thinking you can out trade the market. It all ends up the same, Rekt.
Have people  like SOMEPARTS who are content to pass up a 20000% + gain because they inherently believe the bitcoin eco system is flawed....keep grinding that 9-5.
Then others like you who take  a bet each way, state your position for the long term. Either it crashes and burns or becomes one of the best investment  vehicles weve ever seen....

Have a watch:

It’s a tad odd to be made fun of because I am risking my Profits only and have my initial investment to enter when I feel it is a safe buy in post a dip (any dip).

I am playing with well into 6 figures. Think you can stomach a 200k loss of initial capital (not profit) in under 60 seconds? I doubt it.

HODLers seem oblivious that there are market cycles and that crypto is volatile as all fuck. Don’t kid yourself that you won’t see BTC under 20k again and ETH will be right back under 1k.

The risk to HODL is you never know if that was the last peak. Blindly believing social media that it can only go higher puts you in the category of missing your exit and riding the wave into the ground.

The guys on here with opposing views on BTC are completely valid to raise their concerns over why it won’t succeed. I don’t ignore them because there is some truth to those risks.

[Theoak*]

It’s a tad odd to be made fun of because I am risking my Profits only and have my initial investment to enter when I feel it is a safe buy in post a dip (any dip).

I am playing with well into 6 figures. Think you can stomach a 200k loss of initial capital (not profit) in under 60 seconds? I doubt it.

HODLers seem oblivious that there are market cycles and that crypto is volatile as all fuck. Don’t kid yourself that you won’t see BTC under 20k again and ETH will be right back under 1k.

The risk to HODL is you never know if that was the last peak. Blindly believing social media that it can only go higher puts you in the category of missing your exit and riding the wave into the ground.

The guys on here with opposing views on BTC are completely valid to raise their concerns over why it won’t succeed. I don’t ignore them because there is some truth to those risks.

Well lets see, the bch received from the hardfork was over 6 figures at its peak. That was basically free money. You run numbers for a living so you can calculate my position. 200k loss...lol. Thays my ltc position

When did I mention anything about BTC not returning back to 20k? Ive been through bear markets and major swings. Ive set my close limits on % of my holdings. However you think crash and burn is 20k levels. Pretty hard pill for me to swallow considering my buy in was 200-400 range.

HODLERS seem oblivious? That right there is an ignorant statement in itself. I know few HODLERs who have exit strategies. See when I purchased my positions in btc it was people like you with crash and burn mentality flooding social media. The longer btc survives, bigger the infastructure is built around  it and as the eco system grows your crash and burn theory will become obsolete.

As for SOMEPARTS i actually agree with some ot what he has to say, read a few of my posts. Doesnt mean BTC will ultimately fail.

Edit: i was not making  fun, just your theme is a peculiar one which ive seen over the years.

[SOMEPARTS]

?

You know the Bitcoin source code is open source right? Nothing stopping you from educating yourself and learning exactly how it works.Its origin is irrelevant for understanding it.

I probably owned BTC before you did, I remember it was running about what a roll of silver eagles was at the time. I have discussed it's pros and cons with some very technical friends over the years. Its origin is absolutely relevant as to what happens in the future.

As for other comments, I never said it wasn't going to make people some money...obviously it's made some filthy rich. I have not seen the mechanics of how it replaces or runs alongside the existing money system in a way that doesn't invite a crackdown. If the answer is "it just will" then that is not a sufficient answer for me to ride the roller coaster. BTC having lots of trouble getting a legit ETF but govt had no problem taxing the gains. Lots of hoops of fire to jump through to get where some infer it is going.  Needs to shake that viral penny stock reputation that excites the gamblers.

[Mayday]

Edit: i was not making  fun, just your theme is a peculiar one which ive seen over the years.

I didn’t make a 200k loss. I sat through the initial wicked short squeeze to see my position evaporate and I held and sure enough it bounced back and at 40.5k I sold.  That was fucking scary. I took huge risk early on to derisk later which is what I have done. I only have my profit in play now.. Mission accomplished.

I have no doubt you have read similar things to people wanting to trade every peak and trough. People trade. People hold. You have a greater chance of winning for a hold position as it allows more time to be correct but there is a point where you need to bail and many decide to ride the wave back down.

Sorry but just because some bloke said it’s going to 250k I’m not going to suck up a huge loss for an unknown period of time if I don’t have to. I am not a believer in this being a huge cycle peak whereas most do.

That GME Reddit guy who went from 50k to 48M held and it’s crashing. He will end up around 25M before taxes. Savage. Brutal. He no doubt believed it was going to skyrocket.

If one bought gold at peak in 2012 it’s almost a decade later to get your initial investment back.

If one bought silver in peak 2011, a decade later you have half your initial investment yet the holders kept crowing buy buy buy. Back in 2011 it was the same ‘it’s undervalued, manipulated, going to $1,000’ and it destroyed people.

People get burned in all kinds of scenarios. Early buyers are in so cheap they mock and make fun of late comers who have ‘weak hands’. No shit, they don’t have a 95% buffer over their initial investment and no ivory tower to protect them. A 50% correction after they invest is soul destroying after being told it will be 250k this year.....

I sold BTC at peak and it still hasn’t got back there despite everybody claiming it would rally already these past weeks.It hasn’t crashed yet so I’m not correct either But I am not carrying risk right now.

[Bindare_Dundat]

I was waiting for this exchange to happen. I dont think its wise to get cocky with anything in life, ESPECIALLY when you think you think you've been very clever and in a position that seems advantageous.

Its easy to make yourself out like a genius when so much of it is just blind luck. I dont know anyone, personally, that hasn't freaked out and sold some or most of their crypto when things started looking ugly, even when it really wasn't in the grand scheme of things. No one wants to see things reversing, or miss out on potential gains no matter how far ahead of the game they may be at the moment but id rather err on the side of caution then ride things right off a cliff in the hopes they go to the moon.

I'll be the first to admit I jumped in and out, with portions of my holdings as we tested new highs and even with the temporary loses, its worked out so far but man, it is nerve racking as hell. at least to me it is. Lol

I'm happy where we are but I won't hesitate to pull everything out, even if I loose out on a couple of buys i made at the last peak price. I wouldn't risk all my gains, for the hope we might return to these prices and beyond like some are.willing to do.

If youre doing well right now, count your blessings and enjoy but always stay humble. No one is too smart to lose here.

[Bindare_Dundat]

ETH still killing highs

[Griffith]

ETH over $1600.

[Mayday]

BTC 37.9k and looking very healthy right now.

ETH rocketing! Go you good thing!

[Bindare_Dundat]

BTC 37.9k and looking very healthy right now.

ETH rocketing! Go you good thing!

Btc and eth both looking awesome.

Anyone still thinks the Saylor seminars aren't kicking this off? I think it's a catalyst for this rally. Hopefully it sticks.

[Bindare_Dundat]

Visa Reveals Bitcoin And Crypto Banking Roadmap Amid Race To Reach Network Of 70 Million

https://www.forbes.com/sites/billybambrough/2021/02/03/visa-reveals-bitcoin-and-crypto-banking-roadmap-amid-race-to-reach-network-of-70-million/amp/

[FitnessFrenzy]

$ 37,413.93

[Griffith]

https://www.dailyfx.com/forex/market_alert/2021/02/04/Bitcoin-Rallies-into-Resistance-while-Ethereum-Hits-All-Time-High-LiveEdu-TDC.html

Bitcoin Rallies into Resistance while Ethereum Hits All-Time High

Bulls trading both Bitcoin and Ethereum remain in control of price action after prospects of the larger US Fiscal Stimulus package helped to buoy the demand for major cryptocurrencies.

Although Bitcoin has surged approximately 23% (YTD), Ether continues to outperform, rising a massive 123% (YTD).

ETH/USD continues to soar ahead of next week’s launch of Ethereum futures on the Chicago Mercantile Exchange (CME).

After peaking at the key psychological level of $1,700, a new record high, prices retraced back towards the current support level of $1,468, formed by the 14.4% Fibonacci retracement level of the historical move.

[Griffith]

No, it was already started when I joined on.   Who remembers the original poster here?  Was he banned?

The thread was started by Gib.

[gib]

The thread was started by Gib.

*And thereafter was proudly sponsored by Mr Anabolic.

[Bindare_Dundat]

Some videos of the Saylor seminars are out. Very interesting stuff. If these invited investors don't jump on board after this, I'd be surprised. If they do, It will only solidify btc's future and no governement or institution is going to be able to or want to stop its mass adoption.

[Griffith]

Ethereum was at $1760 today.

[obsidian]

Ethereum was at $1760 today.

Ethereum will most likely hit $2000 soon. Some predict $2500 by valentine's day. And I have seen quite a few estimates for Ethereum this year ranging from $8000 - $27,000 and beyond.

https://www.fxstreet.com/cryptocurrencies/news/grayscale-buys-76-million-worth-of-ethereum-in-anticipation-of-cmes-ether-futures-launch-202102051213

Grayscale buys $76 million worth of Ethereum in anticipation of CME’s Ether futures launch

- Grayscale's purchase of more ETH comes after reopening the Ethereum Trust to investors.
- CME Ethereum futures contracts are set to launch on Monday, February 8.
- Ethereum whales are on a buying spree as they capitalize on the bull run.

Grayscale Investments, the world's leading digital fund manager, has bought more Ethereum. The firm's uptake of Bitcoin from late last years was connected to the bull run the pioneer cryptocurrency experienced in December and January. There seems to be a consistent shift to Ethereum as the asset rallies to a new high after a new high.

Are investors shifting the focus to Ethereum?

Ethereum Trust (OTCQX: ETHE) is the vehicle investors use to get into the cryptocurrency market with Grayscale. The company reopened the trust on Monday, allowing new investors to come while others increase their shareholding.

According to the investment firm, Ethereum Trust had over $4 billion in assets by January 29. This week's $76 million purchase came before the reopening of the trust, implying that investor interest in Ethereum was growing at an exceptional rate.

Ethereum goes ballistic ahead of CME Ether futures

Ethereum extended the bullish leg to a new all-time high at $1,700 this week. The majestic move was anticipated by many in the market who still believe that Ethereum is nowhere near the top. A retreat came into the picture forcing ETH to revisit levels under $1,600. However, a recovery soon came into the picture, placing Ether back on the upward trajectory.

Investor sentiment is extremely positive for Ethereum and could rise higher ahead of the Chicago Mercantile Exchange (CME) Ethereum futures launch scheduled for Monday, February 8. Futures contracts allow investors to participate in buying and selling cryptocurrencies without owning the underlying digital asset. It also means that trading takes place on a regulated platform.

Ethereum whales on a buying spree

A significant drop in the number of large volume holders of Ethereum was evident toward the end of January. However, Santiment's holder distribution shows that whales started streaming in from the beginning of February, explaining the rally to new all-time highs.

The number of addresses holding between 100,000 and 10 million ETH shot up from 154 on February 3 to 158 on February 5. This increase may seem minor at first, but the ETH volume is massive enough to add to the buying pressure significantly.

Peter Brandt, a prominent trader and investor, recently said he was willing to convert half of his Bitcoin holdings to Ethereum. He believes that Ethereum has a long way to go. Experts predict that Ethereum may hit $2,000 before the launch of CME Ether futures.