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It should be obvious to everyone that when the tether bomb explodes the crypto mkt will be severely affected and it should take years at least months to recover. Maybe that’s what will stop this bull rally by the end of 2021? 

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6 hours ago, Gorgalosk said:

@Begofend unfortunately this conversation generally goes nowhere. I have spent literal YEARS arguing and trying to explain how tether is not backed 1:1 and it will cause a bank run eventually. People just don’t seem to understand or want to listen.  If you go back through my post history @CryptoOwl and I debated for quite a while before finally agreeing to our difference of opinions.

T is a shady business, there I agree w you 100%. My own critical remarks begun to appear ~ 1 yr ago. I particularly analysed market strategies of USDT v.s. XRP. They have really cutting edge market strategists, which XRP are missing (and it shows). And I cannot deny USDT's amazing utility. My conclusion: that shady USDT is THE competitor to XRP in the area of Ripple's activities (and to other coins  in shady dealings), but SEC is going after R. Much like looking for lost keys under the streetlight, instead of looking, where you may have lost them.

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9 hours ago, Begofend said:

ho uses tether? 95 percent of the market do, would they care if they find that it is not properly financially backed?

The article we were referring to was pondering what would happen if the SEC declared Tether to be a Security.  I wrote it wouldn't matter because the SEC has no jurisdiction over almost all the people that use Tether.  And I stand by that.

If your point is that Tether is not properly financially backed, The New York Attorney General made that very claim a few years ago.  There is currently an ongoing lawsuit in Manhattan over that very thing.  You can go back in in this thread and seem my opinions and the opinions of others on that lawsuit if you want. 

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On 12/31/2020 at 8:34 AM, AlejoMoreno said:

Has anyone given any thought to which digital assets they think will be big movers when alt season starts?

I’m wondering if the first Bitcoin correction will bring the entire market down or if the first correction will be a flip into alts.

The sequence of money flow seems to be BTC -> ETH -> major alts --> minor alts 

Right now its BTC pumping and ETH. Ideally XRP should have pumped here too but the powers that be spoiled our party. 

Where do we see BTC going from here. (Eric?)

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15th of January is the date it all comes out. 

16 minutes ago, Eric123 said:

The article we were referring to was pondering what would happen if the SEC declared Tether to be a Security.  I wrote it wouldn't matter because the SEC has no jurisdiction over almost all the people that use Tether.  And I stand by that.

If your point is that Tether is not properly financially backed, The New York Attorney General made that very claim a few years ago.  There is currently an ongoing lawsuit in Manhattan over that very thing.  You can go back in in this thread and seem my opinions and the opinions of others on that lawsuit if you want. 

I know all about it, 15th of January.

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Posted (edited)

Happy New Year.

 

Lot of Green on the Screen for Bitcoin.  Do we hit $30K today.  If we do I think when Bitcoin breaks through it makes it to $31k - $32kor so before cooling down.

53 minutes ago, Begofend said:

15th of January is the date it all comes out. 

I know all about it, 15th of January.

I'm even less concerned about the NYAG's case against Tether than I am about the SEC case against Ripple.  Jan 15th is when a discovery request is due.

1 1 2021.png

Edited by Eric123
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2 hours ago, strikerjax said:

Where do we see BTC going from here. (Eric?)

Until I see a reason to believe otherwise, I see the bull market playing out as it has in the past.  With Bitcoin rising 10x-20x over it's 2017 High.  I've put out $440k as a target a few years ago.

Analysts from Citigroup ($318k) and JP Morgan ($650k) are estimating some pretty high numbers ranging from 15x to 30x 2017 high

and Plan B has a target of $288k

https://coinjournal.net/news/jp-morgan-report-suggests-bitcoin-price-could-reach-650k/

https://www.coindesk.com/citibank-bitcoin-gold-318k-2021

https://cointelegraph.com/news/bitcoin-is-targeting-288k-stock-to-flow-price-like-clockwork-planb

More and more credible people are throwing around the $1million number. (albeit by 20225)

https://markets.businessinsider.com/currencies/news/bitcoin-hit-million-five-years-ex-goldman-hedge-fund-boss-2020-10-1029682590#:~:text=Raoul Pal%2C the former Goldman,of money" into the asset.

So basically I see it going UP. 

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10 hours ago, Begofend said:

So 95 percent of daily volume bing wiped off the board is all good? 

I don’t think you read my comment at all.

What I said was it’s often been spoken about as though the axe will fall tomorrow. But at this stage there’s no evidence to imply this doomsday scenario will occur. 

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32 minutes ago, MaxMad said:

I don’t think you read my comment at all.

What I said was it’s often been spoken about as though the axe will fall tomorrow. But at this stage there’s no evidence to imply this doomsday scenario will occur. 

A couple of days ago the sec came out and said they will look at regulations of stablecoins, and this month tether has to provide fincen with their loan details. Nothing happens till it happens.

Edited by Begofend
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16 hours ago, Eric123 said:

Until I see a reason to believe otherwise, I see the bull market playing out as it has in the past.  With Bitcoin rising 10x-20x over it's 2017 High.  I've put out $440k as a target a few years ago.

Analysts from Citigroup ($318k) and JP Morgan ($650k) are estimating some pretty high numbers ranging from 15x to 30x 2017 high

and Plan B has a target of $288k

https://coinjournal.net/news/jp-morgan-report-suggests-bitcoin-price-could-reach-650k/

https://www.coindesk.com/citibank-bitcoin-gold-318k-2021

https://cointelegraph.com/news/bitcoin-is-targeting-288k-stock-to-flow-price-like-clockwork-planb

More and more credible people are throwing around the $1million number. (albeit by 20225)

https://markets.businessinsider.com/currencies/news/bitcoin-hit-million-five-years-ex-goldman-hedge-fund-boss-2020-10-1029682590#:~:text=Raoul Pal%2C the former Goldman,of money" into the asset.

So basically I see it going UP. 

What I like about investing is the decision-making process that leads to the investement.

I really like this club. Great place to share ideas, challenge and educate ourselves. 

Some predictions for 2021 that I like/ find cool: https://suiteki.medium.com/crypto-predictions-for-2021-59331660dd66

"Light read".

On your point @Eric123, let me play the devil's advocate and share that great post.

https://www.metzdowd.com/pipermail/cryptography/2020-December/036510.html

Let me know what you think guys : )

Peace

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