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

[Mayday]

BTC 22.5k and is still losing dominance @ 46.6%.

We are approaching max spastisism as we near 20k. The closer we get, the more spastics ‘long the bottom’ the more sell pressure is added as they get liquidated.

[obsidian]

BTC 22.5k and is still losing dominance @ 46.6%.

We are approaching max spastisism as we near 20k. The closer we get, the more spastics ‘long the bottom’ the more sell pressure is added as they get liquidated.

22k now.

I have shut most of my Ethereum rigs off because the difficulty is still high and the yields low. Waiting for all the miners to quit and then I will start mining Ethereum again, perhaps in 3 weeks. Unless the difficulty stays the same. Then I won't mine. Mining has been my way to DCA into Ethereum but right now it is cheaper to buy Ethereum than mine it. Difficulty needs to drop a lot. Looks like they are going to take their time before merging. That's fine. In current market conditions good news will just be wasted. Better to take time now and work out all the bugs before the merge.

Some DCA advice from Alex Becker:

"Gents- I have to stress. Its EXTREMELY unlikely we are not going lower. Bitcoin LIKELY has another 20-30% to give. Top 10 coins another potential 40-60%. THE DIFFERENCE is we are 70-90% off all time high. We are NOT buying the anywhere near the peak that have caused these massive losses. We are buying lows that will LIKELY provide multiple Xs next bull run YET deliver some losses short term. The goal here is not to buy the bottom and lose zero. Its to consistently invest in projects at prices that are 1/5th to 1/20th of what they will be in in 2-3 years. Please consider and remember any thing you put in right now will likely go lower, this is why we DCA."

[obsidian]

I did some rough calculations and based on my electrical cost and Ethereum mining yield the past few 7-8 months I've been buying Ethereum at a price of around $1,273. Before EIP1559 and when the mining difficulty was much lower I was able to buy Ethereum via mining for as low as $150 per 1 ETH.

Mining sucks right now. However even at these low yields and prices it is almost break even compared to just buying the Ethereum. Interested to see how the difficulty adjusts in the next few weeks.

[Marty Champions]

I did some rough calculations and based on my electrical cost and Ethereum mining yield the past few 7-8 months I've been buying Ethereum at a price of around $1,273. Before EIP1559 and when the mining difficulty was much lower I was able to buy Ethereum via mining for as low as $150 per 1 ETH.

Mining sucks right now. However even at these low yields and prices it is almost break even compared to just buying the Ethereum. Interested to see how the difficulty adjusts in the next few weeks.

i have plenty if iron and salt water for batterys to power your mining my nikka

[epic is back]

i have plenty if iron and salt water for batterys to power your mining my nikka

when the dollar goes all digital

then you want to trade your digital currency for it


uh oh

[obsidian]

i have plenty if iron and salt water for batterys to power your mining my nikka

Thanks my nikka! Can it handle about 6000 watts 24 hours per day?

[Mayday]

I did some rough calculations and based on my electrical cost and Ethereum mining yield the past few 7-8 months I've been buying Ethereum at a price of around $1,273. Before EIP1559 and when the mining difficulty was much lower I was able to buy Ethereum via mining for as low as $150 per 1 ETH.

Mining sucks right now. However even at these low yields and prices it is almost break even compared to just buying the Ethereum. Interested to see how the difficulty adjusts in the next few weeks.

Yep, miners were already going under below 33k. Had some spastic on Twitter tell me there will be no miner capitulation because why would they sell…..

BTC dominance dropping further down to 45.9% now …..as BTC slapped 21.7k.

And people said we can’t get down to 11k…….

LUNA took 6 days to go from $109 to $0.000024. We are day 3.

[Theoak*]

Be interested to see how much the raise interest rates this week and the effect it has on the market. Or is that already being priced in and we see a pump in all markets?

[jude2]

50 points is priced in and expected. If they do more it might be interesting.

[Flexacon]

Yep, miners were already going under below 33k. Had some spastic on Twitter tell me there will be no miner capitulation because why would they sell…..

BTC dominance dropping further down to 45.9% now …..as BTC slapped 21.7k.

And people said we can’t get down to 11k…….

LUNA took 6 days to go from $109 to $0.000024. We are day 3.

There is a fair bit of support around 19/20K

I rolled some funds for a bounce from here,  but I'm out after that and will wait until October or bag hold.

[FitnessFrenzy]

[Mayday]

Be interested to see how much the raise interest rates this week and the effect it has on the market. Or is that already being priced in and we see a pump in all markets?

The sell off is because of the CPI print. Market believes 0.75% rate hike now.

If we get a 0.75% hike this week, market will nuke under the assumption July will also be 0.75%.

This would trigger the mass deflationary event that I always bang on about. We need this in order to reset and allow inflationary policies/outcome.

[Mayday]

Great clip to watch. Enjoyed listening to the story. Thanks for posting.

[Mayday]

Forming a beautiful setup for crypto to be sent to Hades.

BTC price is 21.4K and degenerate alleyway spastics keep longing alts with the fury of a thousand Spartans.

BTC losing dominance and now 45.6%. As we move closer to 20k the intensity of moronic longs on high leverage gets higher as everyone ‘bought the bottom, knife grabbed, bought the dip’ for every coin other than the one that actually creates the entire market.

We go sub 20k now and into freefall as spot will dump like crazy as the first time below the previous ATH is achieved 👀

For anyone in alts just remember not only do you get the price drop but you also will be hit with the reset against BTC valuation. For example SOL is currently $28 but the correct value is $15. Therefore we go to $5…….

[Thin Lizzy]

The Fed is an instrument of the Financial establishment. That the media goes on endlessly about the Fed speaks volumes, as if a bunch of dipshit academic economists are really running things😂

To use the Vegas analogy, this is the house:


Primary Dealers
Amherst Pierpont Securities LLC
ASL Capital Markets Inc.
Bank of Montreal, Chicago Branch
Bank of Nova Scotia, New York Agency
BNP Paribas Securities Corp.
Barclays Capital Inc.
BofA Securities, Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse AG, New York Branch
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman Sachs & Co. LLC
HSBC Securities (USA) Inc.
Jefferies LLC
J.P. Morgan Securities LLC
Mizuho Securities USA LLC
Morgan Stanley & Co. LLC
NatWest Markets Securities Inc.
Nomura Securities International, Inc.
RBC Capital Markets, LLC
Societe Generale, New York Branch
TD Securities (USA) LLC
UBS Securities LLC.
Wells Fargo Securities, LLC

[Griffith]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

[Mayday]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

Griff…… I am cruel to be kind.

21k BTC with ETH at adjusted  value is $630……

The problem is alts are not adjusting their valuation to BTC because everybody is buying alts.

So we go down on BTC, Obliterate everybody in order to reset the BTC valuations of alt. What happens is BTC goes to 11k and valuations get reset meaning ETH could tap $330 range and suddenly you are making a fuckload  more next run.

The question is, if you wait, will you be correct. I have no issue waiting and I’ll post my buy prices and what I bought if people are interested. 

[Humble Narcissist]

I sincerely hope Getbiggers cashed out their crapto currencies by now.

[obsidian]

By the looks of it ETH at 800-900 is not looking far-fetched now.

Impossible to guess the bottom but I will be buying more ETH.

If it does hit approx 800 and eventually hits the ATH of 4800 in the next bull run that would be a 6X.

One thing is for sure and that is the dollar is doomed eventually. I find it laughable that people are talking about how strong the dollar is and everything has gone up in price by a huge amount. Car wash, coffee, groceries, gas. High gas prices affects the price of everything, even bananas. Good thing I raised my fees 2 years ago by almost 50%. A $10,000 fee became $15,000.

Anyway, I will be getting some cash ready soon to buy these at these lower prices. I'll be looking at Ethereum, Cardano, Shiba, Doge and I guess Bitcoin also. Might trade into XRP also.

I did not cash out of crypto again just like 2018 lol! So very low prices are preferable for me. Everyone had the timing of the peak wrong. People were forecasting Ethereum going to $10-20k and nobody foresaw the Ukraine invasion. This is one of the main drivers of the economic turmoil we are seeing now IMO, besides all the quantitative easing that occurred in 2020 / 2021.

[obsidian]

I sincerely hope Getbiggers cashed out their crapto currencies by now.

Going to HODL to zero.

Don't underestimate human greed. Once the bottom is hit we might go sideways for a while as happened in 2018-2020. Once it rips up again people will go balls deep back in. Because people are greedy and will have a fear of missing out. The one thing of course that could fuck all this up is an all out nuclear war. Then all bets are off and you can say bye bye crypto, dollar etc. But then your main goal is survival in a Madmax-like scenario. If you're not killed by the blasts or radiation.

[obsidian]

Until we see Bitcoin regain market control the bottom is not in.

Is there a rule that says this has to happen? Remember there's a lot of locked up staking in Ethereum, Cardano etc. This means people won't panic sell because they literally can't. That brings a lot of "diamond hands" to the alt-coin market. The cryptosphere is different now compared to 2018.

Locked Staking is absolutely a good thing when it comes to price stability. In a way it is like a parent who locks their children's savings in a piggy bank.

[FitnessFrenzy]

BTC $ 20,183.97 

[Griffith]

Griff…… I am cruel to be kind.

21k BTC with ETH at adjusted  value is $630……

The problem is alts are not adjusting their valuation to BTC because everybody is buying alts.

So we go down on BTC, Obliterate everybody in order to reset the BTC valuations of alt. What happens is BTC goes to 11k and valuations get reset meaning ETH could tap $330 range and suddenly you are making a fuckload  more next run.

The question is, if you wait, will you be correct. I have no issue waiting and I’ll post my buy prices and what I bought if people are interested.

Whether 600 or 300 even better.

I'm in no rush either and will wait to see how things unfold.

[FitnessFrenzy]

ETH $ 1,111.61

[Griffith]

One thing is for sure and that is the dollar is doomed eventually. I find it laughable that people are talking about how strong the dollar is and everything has gone up in price by a huge amount. Car wash, coffee, groceries, gas. High gas prices affects the price of everything, even bananas. Good thing I raised my fees 2 years ago by almost 50%. A $10,000 fee became $15,000.

Anyway, I will be getting some cash ready soon to buy these at these lower prices. I'll be looking at Ethereum, Cardano, Shiba, Doge and I guess Bitcoin also. Might trade into XRP also.

I did not cash out of crypto again just like 2018 lol! So very low prices are preferable for me. Everyone had the timing of the peak wrong. People were forecasting Ethereum going to $10-20k and nobody foresaw the Ukraine invasion. This is one of the main drivers of the economic turmoil we are seeing now IMO, besides all the quantitative easing that occurred in 2020 / 2021.

Agreed.

I will mostly be focusing on ETH though and maybe a small amount of XRP as well.