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

[Mayday]

I'm looking shorter term. DXY is going up and BTC is also going up. It's not a trend that's typically sustainable.

The last 2 times this happened was the Do Kwon pump and the pre covid crash pump.

Short of someone hitting the launch nuke button, Once this VIX cycle plays out we at least will know where the new baseline is. I’m assuming that would mean the S&P @ 3,800-3,900.

From there it’ll be a harder pump up towards 4,300. BTC will go up with it to 27k-36k.

I’m still following my Feb 0.25%, Mar 0.25%, Apr 0%, May 0.25% timeframe plan. This would mean an upward grind until May FOMC which is a big decision point.

The reality is the pump to 25k barely registers as a pump. 36k is a reasonable target and 42k if we see some FOMO. The gaps are so huge between price levels which is why this will be the most hated rally because shit will explode higher than people expect.

[gib]

Short of someone hitting the launch nuke button, Once this VIX cycle plays out we at least will know where the new baseline is. I’m assuming that would mean the S&P @ 3,800-3,900.

From there it’ll be a harder pump up towards 4,300. BTC will go up with it to 27k-36k.

I’m still following my Feb 0.25%, Mar 0.25%, Apr 0%, May 0.25% timeframe plan. This would mean an upward grind until May FOMC which is a big decision point.

The reality is the pump to 25k barely registers as a pump. 36k is a reasonable target and 42k if we see some FOMO. The gaps are so huge between price levels which is why this will be the most hated rally because shit will explode higher than people expect.

Agree.

[Flexacon]

Short of someone hitting the launch nuke button, Once this VIX cycle plays out we at least will know where the new baseline is. I’m assuming that would mean the S&P @ 3,800-3,900.

From there it’ll be a harder pump up towards 4,300. BTC will go up with it to 27k-36k.

I’m still following my Feb 0.25%, Mar 0.25%, Apr 0%, May 0.25% timeframe plan. This would mean an upward grind until May FOMC which is a big decision point.

The reality is the pump to 25k barely registers as a pump. 36k is a reasonable target and 42k if we see some FOMO. The gaps are so huge between price levels which is why this will be the most hated rally because shit will explode higher than people expect.

I think the S&P could go lower. 3800 minimum and maybe even take out the October low.

It's time for my most retarded play ever. Short the S&P (SPX) Long Crypto (BTC)

[gib]

Saylor nails it again:

[gib]

And again!

[Griffith]

Bitcoin maxi’s still living in 2016.

[affeman]

Bitcoin maxi’s still living in 2016.

Let them. Bitcoin is the only glimmer of hope they have left to ever get out of their shitty lives. (and plenty of scam artists are making a fortune from their desperation)

[Theoak*]

Saylor nails it again:

This staunch company director will hold stead fast under government pressure. It's different  this time.

https://twitter.com/PinoMichael28/status/1626948399114190851?s=20

[obsidian]

This is directly from the SEC website:

https://www.sec.gov/news/speech/speech-hinman-061418

"And so, when I look at Bitcoin today, I do not see a central third party whose efforts are a key determining factor in the enterprise. The network on which Bitcoin functions is operational and appears to have been decentralized for some time, perhaps from inception. Applying the disclosure regime of the federal securities laws to the offer and resale of Bitcoin would seem to add little value.[9] And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions. And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value. Over time, there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required."

SEC officials already declared Bitcoin and Ethereum not to be securities. Gary Gensler has never declared Ethereum to be a security. If the SEC now comes out and try to declare it a security, they will lose whatever little credibility they have left. All the Ethereum I have I mined. I worked my ass off to get that Ethereum. Bought mining rigs, upgraded my electrical, HVAC and mechanical systems etc. I had to constantly monitor them and do maintenance. Suffered through hot weather to accumulate it. I have been staking for a while and getting decent returns.

And now I have to pay taxes on that. They have no case with labeling Ethereum as a security. Too many people mined Ethereum just like Bitcoin. The SEC will be sued out of existence. They are supposed to protect investors, not harm them. We all know that's a scam but let's start holding these assholes accountable.

The Ethereum price would currently be a lot higher if it was not for Gensler's baseless, vague staking claims. The tokenomics of Ethereum is now a lot better than Bitcoin's tokenomics.

[obsidian]

And again!

That dude is a clown LMAO! Sitting there with his Bitcoin hat. Less than 10,000 subscribers and he champions the SEC. He is useless to us.

[Mayday]

I think the S&P could go lower. 3800 minimum and maybe even take out the October low.

It's time for my most retarded play ever. Short the S&P (SPX) Long Crypto (BTC)

I’m aware of that guy who had puts at 4050 and bought more at 3950. it’ll be interesting whether he buys puts lower.

If SPX gets wrecked it’ll take crypto and everything else with it. Problem is, with increased prices for 2023 business earnings will be better than people think. I am closing my revenue gaps to budget with higher prices on lower volume. I am also backing China growth from Q2 onwards this year at work (im not seeing any market growth movement in Jan).

Fed is planning to cut rates March 2024 so that pretty much says they’re expecting things to continue to rally for most of this year. Fuck I hope my miners come good lol, come on China!!!! 🇨🇳

[Flexacon]

I’m aware of that guy who had puts at 4050 and bought more at 3950. it’ll be interesting whether he buys puts lower.

If SPX gets wrecked it’ll take crypto and everything else with it. Problem is, with increased prices for 2023 business earnings will be better than people think. I am closing my revenue gaps to budget with higher prices on lower volume. I am also backing China growth from Q2 onwards this year at work (im not seeing any market growth movement in Jan).

Fed is planning to cut rates March 2024 so that pretty much says they’re expecting things to continue to rally for most of this year. Fuck I hope my miners come good lol, come on China!!!! 🇨🇳

If Crypto dumps with the SPX then I just roll my SPX short gains into crypto and wait for the epic bounce. I'm hoping Crypto will be able to show some strength after a stock market dump.

China has effectively unbanned crypto as they'll be able to buy via Hong Kong. Potentially a lot of money sidelined there waiting to get involved and now it just got much easier for them. Also if all stablecoins end up getting banned by the US then people either cash out or put it back into crypto (and they'll probably go with bitcoin as it's the least volatile/has less FUD) If we're following the last cycle then this was roughly the time when BTC dominance started rocketing.

ETH has a massive unlock coming up too. Unsure what it will do to its price, but it could dump hard and push BTC price/dominance up.

Do any of your miners give you exposure to the coal? China opening back up will pump those hard.

[gib]

Dude, you are on to it, I'll give you that.

I am closely connected to some big funds, and exactly as you say, they are ALL suddenly very excited about the China market and setting up in Hong Kong. And exactly as you say, they have the inside word that China is going to suddenly go big time into encouraging their citizens to buy Bitcoin (and also Eth by the way according to them). A very different situation from a few years ago. Something seems very changed and about to happen...

[Flexacon]

I’m aware of that guy who had puts at 4050 and bought more at 3950. it’ll be interesting whether he buys puts lower.

Carl Icahn, famous for saying he makes money from studying natural stupidity.

I wouldn't go short just because he has puts because we don't know his real position. He might be net long and they might just protective puts.

Although retail has piled back into the market and gone long so maybe he's just doing that "trade natural stupidity" thing.

[Flexacon]

Dude, you are on to it, I'll give you that.

I am closely connected to some big funds, and exactly as you say, they are ALL suddenly very excited about the China market and setting up in Hong Kong. And exactly as you say, they have the inside word that China is going to suddenly go big time into encouraging their citizens to buy Bitcoin (and also Eth by the way according to them). A very different situation from a few years ago. Something seems very changed and about to happen...

June 1st right? It's just BTC and ETH so far and potentially some other large market cap alts, maybe Chinese ones. I'm hopeful for polkadot as most of their 3rd party projects before the ban were happening in China.

It's funny though that China exited crypto basically at the top and used the West as exit liquidity. Now they are looking to get back in near the bottom. Maybe the CCP were safeguarding the wealth of their people.

It's also very easy to forget how different price action was before 2020 when China were the biggest players. The correlation with US equities and DXY moves was no where near as strong as it now.

Time for the West to pump btc to 40k plus and dump on the Chinese 

[Mayday]

Do any of your miners give you exposure to the coal? China opening back up will pump those hard.

No because China unofficially banned coal purchases from Oz a couple of years ago. Coal here is used not just for power but aluminium production.

I’m mostly in for silver miners, I was going to take a position in Copper but I figured there was more room for silver to go up.

I’ll take coal and Nat gas positions once I see oil at the $60 range.

Dude, you are on to it, I'll give you that.

I am closely connected to some big funds, and exactly as you say, they are ALL suddenly very excited about the China market and setting up in Hong Kong. And exactly as you say, they have the inside word that China is going to suddenly go big time into encouraging their citizens to buy Bitcoin (and also Eth by the way according to them). A very different situation from a few years ago. Something seems very changed and about to happen...

China run their cycle opposite to the West. China money supply is up 13% and they will up it another 13% this year. Basically 2023 for China will be like 2021 was for us. They’re about to fully open up and get moving so from Q2 onwards I expect to see consumer demand start to pickup.

Yeah I heard they can buy crypto via Hong Kong or something. It could pLay a part in making this the most hated crypto rally.

[obsidian]

[Prayer Warrior]

Saylor nails it again:

Off topic: he does that thing where he makes every sentence sound like a question because of intonation

[affeman]

Saylor nails it again:

[obsidian]

Funny but fake. Would love to see a real debate between Saylor and Schiff. Not a fan of Saylor's constant bashing of Ethereum but I would be on his side in a debate with Schiff. I used to like Schiff, but his constant bashing of all things crypto is lame. Gold and silver have been disappointing, barely keeping up with inflation. I bought silver close to 15 years ago and it has only gone up about 1.45x in that timeframe. Gold even less. People following Schiff's advice have seen their buying power stay the same. His investors did not grow their wealth with gold or silver.

[affeman]

Funny but fake. Would love to see a real debate between Saylor and Schiff. Not a fan of Saylor's constant bashing of Ethereum but I would be on his side in a debate with Schiff. I used to like Schiff, but his constant bashing of all things crypto is lame. Gold and silver have been disappointing, barely keeping up with inflation. I bought silver close to 15 years ago and it has only gone up about 1.45x in that timeframe. Gold even less. People following Schiff's advice have seen their buying power stay the same. His investors did not grow their wealth with gold or silver.

Yes but folks who put their money into Crypto are gonna lose it all, so keeping your buying power over decades is actually a great success when it comes to an investment.

[obsidian]

Yes but folks who put their money into Crypto are gonna lose it all, so keeping your buying power over decades is actually a great success when it comes to an investment.

The verdict is out on that. Yes, they could lose much of it. But that's not a fact at this point. You state it with conviction. But you don't know if that will happen.

To develop a decentralized, permissionless asset is not a worthless effort. It takes time and energy to build the network effects that Bitcoin and Ethereum and other blockchains achieved. Bitcoin, Ethereum, and others did not skip a beat during the recent financial turmoil. Transactions were processed, and the system functioned.

The people that bought into them or build them will be the ones that decide if they go to zero. I personally would hold my cryptos to zero if needed. So if I don't sell then it can't truly go to zero. And I am not the only one that thinks this way. Yes, the asset can be volatile. But can it really go to zero at this point, barring the physical destruction of the Earth and humanity? Even Terra Luna and FTX's token did not go to zero.

[Flexacon]

Good video. Likeable guys too (no homo)

Cowen called the bottom on Tesla and Meta for his paid members.

[Mayday]

Good video. Likeable guys too (no homo)

Cowen called the bottom on Tesla and Meta for his paid members.

Cowen I liked initially but he was very much a ‘win, lose or draw’ which is fucking pointless. If he wants to be a big brain maths guy, put your balls on the line and prove it works.


Anyhoo, here is nat gas…. Not yet printing a bottom but it’s getting close.

[Griffith]

US Department of Justice refers to BTC and ETH as 'commodities' in the FTX case.