Nat99 Posted June 9, 2022 Share Posted June 9, 2022 4 hours ago, Eric123 said: Bitcoin's hashrate is at an all time high. 253 +Eh/s. How do you see the chances of a breakdown lower? Seems like a lot of youtubers on both the crypto and the stock market are looking for one final leg down, after which a rather strong reversal is expected. Think this is in the cards? Eric123 1 Link to comment Share on other sites More sharing options...
Eric123 Posted June 9, 2022 Author Share Posted June 9, 2022 Same pattern continues. Bitcoin's price sideways right in the middle of the bollinger bands. 8 hours ago, Nat99 said: How do you see the chances of a breakdown lower? Seems like a lot of youtubers on both the crypto and the stock market are looking for one final leg down, after which a rather strong reversal is expected. Think this is in the cards? I think the price moves in a sideways pattern for maybe 2-3 more weeks then the upward move begins. As far as a leg down, No. It looks to me like we got capitulation on May 12 and now we are in an accumulation phase. The price may drop to the bottom of the bolliner bands which is in the 28k range, but I consider that sideways movement. I think now is a good time to be buying. Chookstar, dtpace and Nat99 2 1 Link to comment Share on other sites More sharing options...
Nat99 Posted June 10, 2022 Share Posted June 10, 2022 15 hours ago, Eric123 said: The price may drop to the bottom of the bolliner bands which is in the 28k range, but I consider that sideways movement. I think now is a good time to be buying. Thanks. Can I ask something else? When you sell XRP, what will you do? WIll you convert some of the gains into BTC? Eric123 1 Link to comment Share on other sites More sharing options...
blueocean Posted June 10, 2022 Share Posted June 10, 2022 On 6/9/2022 at 8:28 AM, Eric123 said: Bitcoin's hashrate is at an all time high. 253 +Eh/s. I guess a high hash rate indicates that the network is thriving and high interest from miners (who are making a profit) Wondering what the relationship is between Hashrate and Price. dtpace and Eric123 2 Link to comment Share on other sites More sharing options...
blueocean Posted June 10, 2022 Share Posted June 10, 2022 18 hours ago, Eric123 said: Same pattern continues. Bitcoin's price sideways right in the middle of the bollinger bands. I think the price moves in a sideways pattern for maybe 2-3 more weeks then the upward move begins. As far as a leg down, No. It looks to me like we got capitulation on May 12 and now we are in an accumulation phase. The price may drop to the bottom of the bolliner bands which is in the 28k range, but I consider that sideways movement. I think now is a good time to be buying. Wonder if BTC dominance would go up ? Eric123 1 Link to comment Share on other sites More sharing options...
MQB Posted June 10, 2022 Share Posted June 10, 2022 (edited) BTC.D is going up steadily, maybe until September. Clearly all markets are in the process of liquidation, more so for alts. Capital flowing out. If it's merely a readjustment of a bull market, some alts would be thriving right now. But none of them are. The whole market peaked last November before you knew it and it'll probably continue for another year during which you should drive your RV to visit and camp at all the great national parks:). There is no new money coming in but the liquidation is far from done yet. And yes this is completely a 4-year cycle conspiracy theory. Edited June 11, 2022 by MQB blueocean and Eric123 2 Link to comment Share on other sites More sharing options...
Eric123 Posted June 10, 2022 Author Share Posted June 10, 2022 (edited) Nothing new on Bitcoin's price, it remains in it's sideways pattern. 14 hours ago, Nat99 said: Can I ask something else? When you sell XRP, what will you do? WIll you convert some of the gains into BTC? I would probably just spend the $ I make from XRP when I cash out. I don't have any plans to invest it. 11 hours ago, blueocean said: Wondering what the relationship is between Hashrate and Price. Not always but at times hashrate has been a leading indicator. Edited June 10, 2022 by Eric123 dtpace and Chookstar 2 Link to comment Share on other sites More sharing options...
Nat99 Posted June 10, 2022 Share Posted June 10, 2022 2 hours ago, Eric123 said: I would probably just spend the $ I make from XRP when I cash out. I don't have any plans to So your alts are your spending money and BTC is the longterm savings account in some way? Link to comment Share on other sites More sharing options...
Eric123 Posted June 10, 2022 Author Share Posted June 10, 2022 1 hour ago, Nat99 said: So your alts are your spending money and BTC is the longterm savings account in some way? Yeah pretty much. Nat99, dtpace and ManBearPig 3 Link to comment Share on other sites More sharing options...
Nat99 Posted June 11, 2022 Share Posted June 11, 2022 9 hours ago, Eric123 said: Yeah pretty much. Same here. What's your take on what the world will be using as money by the end of the decade? You think we'll be on a Bitcoin standard? Link to comment Share on other sites More sharing options...
RandyMarsh Posted June 13, 2022 Share Posted June 13, 2022 On 6/9/2022 at 2:08 AM, Nat99 said: How do you see the chances of a breakdown lower? Seems like a lot of youtubers on both the crypto and the stock market are looking for one final leg down, after which a rather strong reversal is expected. Think this is in the cards? Final leg down occurring now perhaps. Wonder have low this will go. Link to comment Share on other sites More sharing options...
MQB Posted June 13, 2022 Share Posted June 13, 2022 24k Link to comment Share on other sites More sharing options...
Guest Posted June 13, 2022 Share Posted June 13, 2022 9 minutes ago, MQB said: 24k I expect BTC to go to ~$18k, reverting to pre-2020 levels just like most meme stocks. Beyond that will depend on fed repo rates and other macro conditions. At the end the board will be refreshed with a new set of pieces (tokens) - some old, most new, and the game will begin again… Link to comment Share on other sites More sharing options...
ManBearPig Posted June 13, 2022 Share Posted June 13, 2022 Bought some ETH and BTC on today's dip, it will be trivial in the long run. Staying away from alts. Particularly unique to this bear market is the high probability of conventional markets that owe a natural correction that the COVID downturn did not organically correct. Cash will be king, as will the Cat Food we will be eating in the days ahead. Luckily for me, I have an acquired taste. dtpace 1 Link to comment Share on other sites More sharing options...
Guest Posted June 13, 2022 Share Posted June 13, 2022 On 6/9/2022 at 3:49 PM, Eric123 said: The price may drop to the bottom of the bolliner bands which is in the 28k range, but I consider that sideways movement. So I guess BTC is no longer moving sideways Link to comment Share on other sites More sharing options...
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