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Eric123

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  1. C'mon, it's not about Bitcoin doing something about it. A cryptographic token can do some things but it can't cure the world. It's about Bitcoin benefiting from the Low/negative interest rate environment and infinite quantitative easing that will follow. As far as what could happen, it no doubt could get ugly. https://www.nytimes.com/2020/03/13/us/coronavirus-deaths-estimate.html "Between 160 million and 214 million people in the United States could be infected over the course of the epidemic, according to a projection that encompasses the range of the four scenarios. That could last months or even over a year, with infections concentrated in shorter periods, staggered across time in different communities, experts said. As many as 200,000 to 1.7 million people could die. And, the calculations based on the C.D.C.’s scenarios suggested, 2.4 million to 21 million people in the United States could require hospitalization, potentially crushing the nation’s medical system, which has only about 925,000 staffed hospital beds. Fewer than a tenth of those are for people who are critically ill." Now about 2.8 million people in the US die a year in a normal year.https://www.cdc.gov/nchs/fastats/deaths.htm And a lot of the people that are dying or gonna die of Covid-19 are people that would otherwise die anyway - but certainly the tragedy would be if people that would otherwise survive end up dying because of limited medical care. Look no one wants to get this but eventually (probably withing 2 months) things will return to normal.
  2. I'm not making light of the situation. But you do realize all people will at some point die. In an average year 153,000 people die in New York City. Life somehow goes on. Death did not begin with Covid-19.
  3. Day 18 of the Apocalypse Bitcoin is above the first down trend line. Two more to go. Will Bitcoin break them before the halving? Not without some dramatic price moves, but we do have 6 weeks and a day till the halving. Bitcoin needs closes at over $7,700 and $9,800 to break those lines. If there is one thing that gets me excited chart wise it's tightening Bollinger Bands. Bitcoin, XRP, LTC - look at those bands tighten. Like the calm before the storm, how long will this last? I'm gonna say about a week to 10 days at the longest. Maybe the Breakout will coincide with the Down turn in the virus in the U.S. So Bitcoin will have a breakout at the same time the following will happen: Epic spending by world governments and Central banks, Revival of optimism in the world economy, the halving within a month. Everything is coming together perfect storm style, but I'm trying not to get ahead of myself. Might buy some Litecoin today or XRP or BTC, I'm not sure, I kinda want to buy everything.
  4. If we can "close" above the trend line which we are currently above we will be out of the downtrend which began March 7th.
  5. Day 17 of the Apocalypse Apparently the Apocalypse is set to last for another 30 days and end on May 1 - That's good news, let's see if it works out. Here in the US as I understand the "Corona Virus Bail Out". Basically a lot of people will be out of work (best case scenario) for about six weeks and get $1,200. While corporations will get a ton of cash. the Bill will cost about $2 trillion not counting another $4 Trillion in loans the Fed will be able to make. For the average guy who lost his job it seems he's pretty well F***ed for the time being, but that is nothing new. Remember when the $780 Billion Bailout in 2009 Seemed like a lot of Money. Now $2 Trillion doesn't seem like enough and it probably won't be. But on the good side debt seems has become irrelevant . Check out the dollar index - Dollar strengthened then pulled back Friday but now is moving up again. Apparently enough $ hasn't been given away to weaken the dollar, but I'm sure they will keep trying. https://www.marketwatch.com/investing/index/dxy Is this good for Bitcoin - I don't see how it couldn't be. Bitcoin is working on a decent size green candle today which is undoing what was done to the price Sat and Sun. Now it just need to get to $6,800 and the Bart Simpson will be complete. I don't think it will get that low but I'm a buyer at this level and I'll buy if it goes down there too. I liked it at $9k and I like it even more here.
  6. Day 17 of the Apocalypse 6,000 has been holding up as the bottom for the recent Bart Simpson pattern bitcoin is in. Waiting for the pattern to complete which should put the price back above $6,800. As of today Bitcoin is a month and a half from the halving.
  7. Day 16 of the Apocalypse Well so much for staying with 2%. of $6,700. We got a 10 minute take down which is causing a reverse Bart Simpson pattern. Obviously I think this is a good time to buy. XRP had quite a pullback so now might be a good entry for that too.
  8. Day 15 of the Apocalypse. Stocks are down big at the moment after being up huge the last three days. Next week will be big virus wise. There should be dramatic increases in the number in the US, mainly due to more testing and the social isolation policies won't really start to take effect until the end of next week so the wave should increase until then and then hopefully start to decrease. If Bitcoin stays in this range give or take 2% the Bollinger bands will tighten dramatically over the next few days - then flatten - then breakout. The hash rate dropped from 108,000,000 TH/s to 75,000,000 TH/s then recovered to 112,000,000 TH/s - which it seems could be more from how the hash rate is calculated (ie a slow block) rather than miners actually being turned on and off. But still nice to see an uptick. https://www.blockchain.com/en/charts/hash-rate I kinda want to keep buying everything. I want to pick up more Bitcoin - more XRP - more LTC. I want to keep taking advantage of this sale but like everyone I have my constraints as well. @Caracappa I guess - But it's kinda a yes and no. https://cryptopotato.com/breaking-tether-silently-updates-its-terms-usdt-may-not-be-100-backed-by-fiat/ Tether claims to be backed 100% by $1 value but not necessarily by dollars. Anyway it seems like this would be an area where another company could just swoop in and take over Tether's business if it was so fragile. The fact that no one has and Tether is still around leads me to believe they are legit. By the way have personally have never used/owned any Tether or any stable coin for that matter.
  9. @Archbob remember in the US every trade in the US either from crypto to crypto or crypto to cash is a taxable event. Also you can only carry forward $3k of capital losses a year.
  10. You're Welcome. Tether has become a bit of a dirty word hasn't it. Personally, I think the NYAG has misplaced motivations regarding their prosecution of their case against Tether which I have stated previously and that Tether is not fraud people make it out to be. Obviously time will tell but Tether has been doing business through out the case and the suspicions and people continue to use it. That aside though, the level of "Crypto Journalism" is surprisingly low. The article's whole basis for the claim and the headline, is a post on Telegram. The "journalist" doesn't state that he even attempted to contact Tether for comment or to find out if the Tether was issued legitimately. "According to data recently shared on Telegram by Unfolded – a Bitcoin and crypto analytics group – Tether has increased the circulating supply of USDT by an astonishing 13.3% over the past three months, with an additional $161 million worth of tokens being minted over the past 24-hours." I"m not saying the the claim isn't true just that it seems that most articles and headlines are based on nothing more than a Telegram, Tradingview or Twitter post. What is "crypto news worthy" is very suspect. "Bitcoin to Crash to $1" claims poopflingingbaboon on Twitter.
  11. Day 14 of the Apocalypse. Stocks up again 3rd Day. Bitcoin Flat/Down again. Bitcoin's Price is beginning to flatten out. Actually to me it looks like the price is being constrained. Chart wise everything is bearish as far as the 50/100/200 EMA's are concerned. The 5 day price collapse from March 7th to March 12th which dropped the price nearly by half dropped all of the averages off a cliff. The Bollinger Bands although still wide open are at least beginning to tighten. Will they tighten maybe for a week or so then make a big move,? that's usually what happens. I'm not overly concerned about the hash rate collapse. https://www.blockchain.com/en/charts/hash-rate As we have seen drops of 40% at lease twice before. We have about 48 days till the halving. Obviously I am looking at the price collapse as a buying opportunity. picked up some more bitcoin yesterday and might add some more today or tomorrow. Looking long term, since the bear market started in 2018 I have increased my holdings in Bitcoin 9%, XRP 36% and I was able to open a position in LTC - So that is the bright spot to the bear market. Just keeping the faith and adding to the stacks.
  12. Exactly remember taxes. Swing trading can be a good way to increase your stack. But Big Warning if crypto trades are taxable in your country - always remember to convert to your local currency and pay the tax. You don't want to end up in the situation where you increased your stack but the tax gains are higher than your entire portfolio (it happened to traders in 2017). https://www.cryptoglobe.com/latest/2018/11/college-student-asks-did-i-ruin-my-life-by-trading-crypto-after-receiving-400000-tax-bill/
  13. Picked up a little more bitcoin at 6,700. Was itching to get some, could have gotten a little earlier at $6,500 but whatever I didn't get much. $2T in stimulus should pass today. Market is up about 1%. Bitcoin is flat. Yesterday was probably the buy the rumor and today will be the sell the news so the Stocks should probably pull back. Less than 50 days to the halving. I think Bitcoin will be seeing some pretty dramatic upward price moves regardless of how equities perform. Time will tell. It passed Dow up 3%.
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