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Epic Pennant on BTC Chart


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Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

@Eric123 My perspective is a bit different;  in my opinion the alt season begins once BTC momentum tapers off and the price becomes stuck.  While this may take place after BTC hits some ridiculous ATH

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49 minutes ago, MaxMad said:

Has anyone thought that the whales might prefer to keep it in this price range? Low enough for them to still control and they can continue making decent money by pumping it up and down in this range?

Whales are not magical.  There are limits to how much control can be exerted on a growing market.  As more volume comes in, the whale effect will be less and less.  Institutions are starting to look seriously at BTC as an inflation hedge alongside gold.  When that occurs, the current whales will be neutralized and the BTC market will be manipulated in more conventional ways by the more conventional players just like all the other commodities.  CME futures have already started this process.

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38 minutes ago, MrFlibbers said:

Whales are not magical.  There are limits to how much control can be exerted on a growing market.  As more volume comes in, the whale effect will be less and less.  Institutions are starting to look seriously at BTC as an inflation hedge alongside gold.  When that occurs, the current whales will be neutralized and the BTC market will be manipulated in more conventional ways by the more conventional players just like all the other commodities.  CME futures have already started this process.

That’s fair. And I’m sure it’s a matter of time. But do you think it’s a deliberate attempt to scare of institutions through these flash crashes? 

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Just now, mariusthegreat said:

Tempted to jump in BTC, see consolidation in the 8.8 range... 

Do I wait as it will break lower hmm ?

Sell wall in Binance is high, but this could all be fluff..

There’s going to be a breakout up or down. This is an anxious time to jump in. It’s anyone’s guess which way. I’m thinking down though.

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With the whole BTC halving narrative going on it is interesting to see that both troll activity on this forum as certain 'crypto sites' have increased the FUD towards XRP (and alts in general) while BTC must be going berserk anytime according to them. Coordinated effort to push people from alts to BTC for a pump?

I'm starting to get a 'alts first then rotate to BTC' feeling as that last one takes so much effort to push and early pumped alts could help m with that. Also because the BTC dominance is allready squeezed towards that 70% that getting much higher seems improbable and costly.

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5 minutes ago, Caracappa said:

With the whole BTC halving narrative going on it is interesting to see that both troll activity on this forum as certain 'crypto sites' have increased the FUD towards XRP (and alts in general) while BTC must be going berserk anytime according to them. Coordinated effort to push people from alts to BTC for a pump?

I'm starting to get a 'alts first then rotate to BTC' feeling as that last one takes so much effort to push and early pumped alts could help m with that. Also because the BTC dominance is allready squeezed towards that 70% that getting much higher seems improbable and costly.

I still think there is an effort to keep a lid on Bitcoin. If you let the fuse go off now, I don’t think there is a lot of capital prepared to flow into the market given the world economic situation.  

I think Bitcoin will hold dominance right where it is now maybe even push 75%.  
 

I don’t think any alts are going up without it right now and I think if it crashes, it will maintain dominance and bring the house down with it with everything, especially XRP, losing satoshis.

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15 minutes ago, Caracappa said:

With the whole BTC halving narrative going on it is interesting to see that both troll activity on this forum as certain 'crypto sites' have increased the FUD towards XRP (and alts in general) while BTC must be going berserk anytime according to them. Coordinated effort to push people from alts to BTC for a pump?

I'm starting to get a 'alts first then rotate to BTC' feeling as that last one takes so much effort to push and early pumped alts could help m with that. Also because the BTC dominance is allready squeezed towards that 70% that getting much higher seems improbable and costly.

I am just going to sit with what I have and watch the ride.

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Posted (edited)

It took a while to mine the next two blocks after the halving but everything seem to be running smoothly. So no a lot of miners didn't shut down and Hash Rate is at an ATH.

Prices at the halvings.

November 27, 2012         $ 10.89

July 9, 2016                        $ 667

May 11, 2020                     $ 8,502.93

If this was your first halving, congratulations you observed a historic event.  I will bet many more people will be watching the next halving, the one after that and so on and so forth.

As far as a post halving downtrend we seem to have gotten it prior to the halving.  

Moving Forward.

On the Chart, Bitcoin's 50 Day EMA will make a golden cross of the 200 Day EMA, today.  A close around $9,305 gets Bitcoin over the Down trend line.

 ETH's 100 Day EMA just made a golden cross of the 200 Day EMA today.

I an considering building a position in ETH.

 

5 12 2020.png

5 12 2020 eth.png

Edited by Eric123
Wrong amount $9,305 not $9,085
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2 hours ago, AlejoMoreno said:

I still think there is an effort to keep a lid on Bitcoin. If you let the fuse go off now, I don’t think there is a lot of capital prepared to flow into the market given the world economic situation.  

I think Bitcoin will hold dominance right where it is now maybe even push 75%.  
 

I don’t think any alts are going up without it right now and I think if it crashes, it will maintain dominance and bring the house down with it with everything, especially XRP, losing satoshis.

I agree.  I think the algorithms of the bots suck money out of XRP and we lose Satoshis with every BTC cycle of boom and bust.  The fact is the prices of crypto is pretty much meaningless because there is no floor, and this effect could continue into the future.  At some point XRP will meet demand from ODL (a long way down) or develop its own markets independent of BTC.  I just sit still and buy at the cheaper costs per token because as a long term holder I see XRP as being a class investment.

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5 hours ago, mariusthegreat said:

Tempted to jump in BTC, see consolidation in the 8.8 range... 

Do I wait as it will break lower hmm ?

Sell wall in Binance is high, but this could all be fluff..

The high likelihood play is to wait for further drop.  If the price moves back up over 9000 then the bearish case is invalidated.  I don't think that will be the case.

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