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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

Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

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

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Bitcoin's price has drifted up.  Hitting $50,602 on the Bitstamp Chart.  Today looks like it will be a moderate volume day, but we'll see.  Currently the price is at 49,400,  would  be nice to see a close above $50k, although I don't think there is much significance to that price other than to get a few headlines.

XRP has been moving down the last few days, I suppose because Bitcoin and ETH are on everyone's minds.  I'd still be buying XRP if I could.  

Anyway not much different than the situation yesterday and not much to say other than the $50k milestone has been broken.  

 

2 16 21.png

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1 hour ago, Eric123 said:

Bitcoin's price has drifted up.  Hitting $50,602 on the Bitstamp Chart.  Today looks like it will be a moderate volume day, but we'll see.  Currently the price is at 49,400,  would  be nice to see a close above $50k, although I don't think there is much significance to that price other than to get a few headlines.

XRP has been moving down the last few days, I suppose because Bitcoin and ETH are on everyone's minds.  I'd still be buying XRP if I could.  

Anyway not much different than the situation yesterday and not much to say other than the $50k milestone has been broken.  

 

2 16 21.png

Flow from alts to BTC, XRP is just more impacted as always, but not the only one

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On 2/16/2021 at 8:42 AM, Seoulite said:

Why would I say something is impossible if it is right there on the chart?

What?

“Building a city on Mars definitely is possible, and the amount of money to get there is irrelevant.”

”My goal to become the largest private holder of gold bullion in the world definitely is possible, and the amount of money to get there is irrelevant.”

Possibility is not the question, probability is. I think the probability is very low in the timeframes laid out.

If nobody decided to ever sell any more XRP. What do you think the price does? Stay at 50c?

If every sell order at every exchange is put in at $500, and 1 person decided to buy, how much money moved the price to $500?

 

 

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25 minutes ago, ChuckN said:

If nobody decided to ever sell any more XRP. What do you think the price does? Stay at 50c?

If every sell order at every exchange is put in at $500, and 1 person decided to buy, how much money moved the price to $500?

 

 

I feel you completely ignored the point where I said possibility is not the problem, probability is.

I could become the world's largest holder of gold bullion with zero money, if everyone in the world decided to just give me their gold. That's possible. Is it probable? No. The scenarios you laid out are possible, but not probable. Jesus could return and say xrp was his crypto of choice. That is what I base my investment strategy on, and it's the reason I hold xrp.

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4 minutes ago, Seoulite said:

I feel you completely ignored the point where I said possibility is not the problem, probability is.

I could become the world's largest holder of gold bullion with zero money, if everyone in the world decided to just give me their gold. That's possible. Is it probable? No. The scenarios you laid out are possible, but not probable. Jesus could return and say xrp was his crypto of choice. That is what I base my investment strategy on, and it's the reason I hold xrp.

Wasn't discussing possibility or probability. Was discussing money entering the market not being exactly correlated with the last sale price of XRP (or any other crypto).

There's no golden rule that says X amount of money entering market = XRP at $100 (again, an example). This is kind of what you inferred.

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17 minutes ago, Lumpy said:

Just betting for a healthy correction. Tbh 50-52 is a very attractive zone to pocket profit.

 

Is it though? Maybe for the nervous ninnies who sweat daily price movements. Check back in 5 years--your kids will thank you. 

Edited by HenrySeldom
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For someone of modest means like myself($3k all-in), It's just very hard for me to see the upside of buying BTC now. With those modest means, spreading myself too thin over multiple cryptos doesn't seem reasonable too. I recently sold all my crypto units, then got back in on this recent correction and thankfully ended up with more xrp units than when I sold. I decided to go all in on XRP again(with what we all believe here is its strong use case), but this time I've spurned BTC. A 2x growth for example seems to me to be a lot more probable in XRP than in BTC. As of today's prices, 2x would equate to approx. $1.4 per unit XRP-CAD, vs $130,000 BTC-CAD.... Maybe I'm just too beholden by old metrics of growth potential, and is my distaste of having fractional units blinding me from the opportunity of having a portion in BTC?  Having thousands of units bought in at sub-$1 is just a lot more attractive to me than having a mere fraction of something that's the currently most valued crypto ever.

BTC seems like it's had it's moonshot and it's currently orbiting and will fluctuate, but xrp seems to still be in the launch testing phase....That said, I see this all as a gamble, and it may just all crash and burn, but it's an amount I can lose...Happy to hear your thoughts on this. 

 

Edited by JohnnyLarue
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3 hours ago, Lumpy said:

Just betting for a healthy correction. Tbh 50-52 is a very attractive zone to pocket profit.

 

I sold some here, and also expecting a pullback. If not, I'm good with that also. 

That said, my BTC DCA is around 6k, and its a fraction of my total crypto portfolio (less then 10 percent).

Taking some profit here and there is never a bad thing.

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52 minutes ago, JohnnyLarue said:

For someone of modest means like myself($3k all-in), It's just very hard for me to see the upside of buying BTC now. With those modest means, spreading myself too thin over multiple cryptos doesn't seem reasonable too. I recently sold all my crypto units, then got back in on this recent correction and thankfully ended up with more xrp units than when I sold. I decided to go all in on XRP again(with what we all believe here is its strong use case), but this time I've spurned BTC. A 2x growth for example seems to me to be a lot more probable in XRP than in BTC. As of today's prices, 2x would equate to approx. $1.4 per unit XRP-CAD, vs $130,000 BTC-CAD.... Maybe I'm just too beholden by old metrics of growth potential, and is my distaste of having fractional units blinding me from the opportunity of having a portion in BTC?  Having thousands of units bought in at sub-$1 is just a lot more attractive to me than having a mere fraction of something that's the currently most valued crypto ever.

BTC seems like it's had it's moonshot and it's currently orbiting and will fluctuate, but xrp seems to still be in the launch testing phase....That said, I see this all as a gamble, and it may just all crash and burn, but it's an amount I can lose...Happy to hear your thoughts on this. 

 

Spreading 'thin' (diversification) was the way to go for me over the last 3 months. Glad I did.

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