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Eric123

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Eric123 last won the day on October 26 2020

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About Eric123

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  1. 2140 is when the last bitcoin will be mined. More mining power does not really speed up the process as the difficulty is adjusted every two weeks. More mining just means it's harder to get a reward, they don't come faster (well not after the adjustment anyway)
  2. Looks like Bitcoin is again leveling out around the $49-50k level. Bollinger Bands are Tightening. Litecoin is catching up a little.
  3. Finally some green on the screen. The recent down turn seems to have caused a lot of concern, don't worry it's normal for Bitcoin. Big moves up (more than expected) Big moves down (more than expected) But it looks like the price might level out here for a day or so. New Support levels have been established and the Bollinger Bands should Flatten/Tighten until the next run.
  4. On December 3, 2020 The Dollar Index was right where it is now, at that time Bitcoin was 20K, now Bitcoin is 45K and the DYX is at the exact same level. So Yeah, don't see a total correlation. I understand the Bitcoin inflation play, but it is certainly not a one-to-one. Certainly if the dollar weakens bitcoin and other investment vehicles can up, but Bitcoin price is also driven by other factors. The dollar can strengthen or stay flat and bitcoin can still rise in price, as it has.
  5. These pullbacks are always painful, Bull runs are a lot more stressful than bear markets. But it's not over, be prepared to go through this a few more times, each more absurd than the last.
  6. Bitcoin is still looking for support with it's closes coasting along the down trend line which began February 22. As today looks to be another down day Bitcoin will have seen 7 down days in the last 8. Alts are taking the hit harder today being down double the percent of Bitcoin. Honestly next support level looks to be around $39k. On the plus side. Hash rate continues to be strong.
  7. Bitcoin has moved out of it's near term down trend and the Bollinger Bands are starting to contract. Looks like we get some sideways movement from here for a little bit. Bitcoins hash rate hit a new ATH Thursday. The MACD on the daily chart is still negative but looks like it might level out here. The RSI is not way out of overbought territory. About bitcoin's price?? Not much. As far as I see it Bitcoin has reached the point where it's further adoption/acceptance is basically unstoppable.
  8. If we break it into two seasons which it kinda was. The first one probably starts in 2-6 weeks.
  9. Bitcoin is trying to find it's near term support level and trying to break through the short term down trend that it has been in since Monday. Once support is established and it either gets some sideways or up movement that level should provide some decent support going forward. I think now is a good opportunity and I'd be buying some ETH and XRP if I could. It's not a joke. If you look at the last alt season it occurred at the end of Bitcoin's Bull run, Bitcoin hit it's ATH on December 16, 2017 - after that the alts took off -Alt Season (look at the charts of ETH, XRP, LTC, NE
  10. The internet uses over 6% of the world's energy. I wonder if investors in Amazon, Google, Netflix and Facebook take into account that governments could outlaw the internet and shut them down. This is a real risk to their businesses that no one seems to take into account.
  11. I think we are about 8-10 months away from alt season. I think all the coins that already ran will run again.
  12. Look into how bitcoin can prevent all the pollution caused by gas flaring. Bitcoin is greener than most think. https://oilmanmagazine.com/how-and-why-natural-gas-flaring-is-being-used-to-mine-bitcoin/
  13. Seriously? what do you consider a bubble? Buying Bitcoin at $3, buying it at $100 buying it at $1,000, buying it at $20K or buying it at $50k. Were all those prices bubbles too???? This is probably the single stupidest sentence I've ever read on this blog. You're getting put on ignore.
  14. I'm sure they had their hand on the pulse of the market when high button shoes were in fashion and I heard they made most of their money in dirigibles. Personally, I don't take advice from people that are baffled by an iphone.
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