Jump to content

Epic Pennant on BTC Chart


Recommended Posts

3 hours ago, Eric123 said:

Bitcoin still in the same sideways, middle of the Bollinger Bands price movement.  If I had to guess I'd say we start to move up when there is an announcement of another public company putting it's cash reserves in Bitcoin.

I have no idea what DOT's potential for growth is and I actually haven't looked into the project that much.  I did see a video where Mike Novogratz was pretty bullish on DOT and it's founded by Gavin Wood a co-founder of Ethereum.  When looking at a project I look to the team and who is involved. These guys are heavy hitters.

I think this move in ALT's will probably last a few weeks before it settles down, expect a lot of volatility. 

I don't think such a severe pull back will happen this time.  The market this time around is not dominated by weak handed retail investors as it was in the prior bull runs.  

 

4 7 2021.png

Somehow now BTC decision was postpone to 16th of April and guess what is to happen that day!

Link to post
Share on other sites
  • Replies 10.5k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

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

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

I think you're selling BTC sells off and then moves into ALTS. I think we will see 2.5 days in the week or BTC fairly sizeable dips to then be outsized by ALT gains on the remaining days. 

Link to post
Share on other sites
13 hours ago, Eric123 said:

expect a lot of volatility

Thanks. By the way - is there a general rule of thumb you have for this alt coin bull market with respect to its highs relative to previous ATHs?

So, in case of XRP it would be around 3x the 2018 ATH (and that's conservative).

I got a few of the more established alts (OMG, EOS) and was wondering if you were also looking at something like a 3-5x previous ATH or if that's too greedy or actually too conservative.

I know this is a case-by-case thing, but maybe you have a sort of a general target range (for those who go by Fib extensions 4.2x is an extension a few traders look at)

Link to post
Share on other sites

The same sideways pattern continues for Bitcoin's price - Hash Rate is at an All Time High!

21 hours ago, jockeyng said:

If there is no 80% pullback this time, that means this is the last chance for normal guys like us to get on the ship.

The chance for normal guys to own an entire bitcoin has already gone.  We're nowhere near the high for this cycle and even if an 80% drop were to happen (which probably won't) that's still over $10k per.  The good thing is you don't have to own an entire bitcoin - it is open to all and you can be part of the system no matter how little money you have.  But as @MQB wrote - there will still be abundant opportunities. 

 

4 8 2021.png

Link to post
Share on other sites
23 minutes ago, Eric123 said:

The same sideways pattern continues for Bitcoin's price - Hash Rate is at an All Time High!

The chance for normal guys to own an entire bitcoin has already gone.  We're nowhere near the high for this cycle and even if an 80% drop were to happen (which probably won't) that's still over $10k per.  The good thing is you don't have to own an entire bitcoin - it is open to all and you can be part of the system no matter how little money you have.  But as @MQB wrote - there will still be abundant opportunities. 

 

4 8 2021.png

Always take great interest in your posts, thank you for your insights! I'd be interested in what you think about a 'perma-bullrun' from this point onwards? A bit like the Nasdaq post 2000 crash? 

Link to post
Share on other sites
2 hours ago, Xrpdude said:

Always take great interest in your posts, thank you for your insights! I'd be interested in what you think about a 'perma-bullrun' from this point onwards? A bit like the Nasdaq post 2000 crash? 

More than anything else, the thought of this keeps me up at night.   Why not. Everyone knows the halving schedule.  Bitcoin gets more and more rare, more players keep coming in.  Institutional deep pockets have already set somewhat of a floor for the price.  You don't want to leave the dance early or late - But what if the music never stops!!!!!  Maybe.    

Link to post
Share on other sites

rom: Sorry to garbage-up this pristine thread with some more politics! I thought you may want to read this short informative article from Forbes magaz. Heavy shelling back at the SEC. Obtained via Reddit/Ripple from CryptoRookieX and Liagala, thanks to you!

Liagala: "I had to jump through a few hoops to get the article to display without "X of 4 free articles" pop-ups, hidden text, and all that garbage. If you're having the same problem, here you go:

Forbes article: Some agency chairs find an ambiguous statute hard to resist. They overinterpret their authority to regulate, and Congress too often goes along. The backstop of this excess is the courts, provided that the aggrieved have the wherewithal to defend themselves against the gargantuan administrative state. This familiar story is playing out in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency innovator Ripple, but the buck stops with Magistrate Judge Sarah Netburn whose discovery hearing in U.S. District Court for the Southern District of New York on Tuesday exposed the SEC’s unfounded and flawed arguments and some inconvenient truths for former SEC Chair Jay Clayton and former SEC Corporation Finance Division head William Hinman.

The hearing showed that the case the San Francisco fintech was based on an illogical premise. It alleged that XRP, the digital currency that Ripple uses for cross-border payments, has been an unregistered security since 2013 and that the SEC was just getting around to saying so on the last day of Clayton’s tenure last December. With this late in the game regulatory determination, the SEC now deems that every Ripple sale for seven years was an illegal securities trade. And that Ripple, its two top executives named in the suit, along with millions of retail holders, should have known this all along, even though the agency never did. Due process and fair notice were thrown out the window to get the case across the transom on the day that Clayton walked out the door.

The hearing detailed the many vague, contradictory statements regulators made on cryptocurrency over the years. In 2018 Clayton told CNBC that bitcoin is not a security, and Hinman gave a widely covered speech which laid out how ether was not a security, despite debuting in an initial coin offering (ICO) in 2014. With XRP they said its status had “not been determined.” Trading platforms asked the SEC if XRP was a security before listing the token, and the agency refused to clarify. When asked whether XRP was a security, the then-chairman of the Commodity Futures Trading Commission Heath Tarbert in a 2020 interview declared, “It's unclear. Stay tuned. We're working closely with the SEC to figure out what falls into what box.”

If these regulators were honest, they would admit that nothing in the 1933 Securities Act refers to cryptocurrency and then would request Congress to clarify the statue. Instead, the SEC made an unfounded determination with no warning or process.

Back to Judge Netburn’s courtroom. Ripple requested the internal documentation to explain how and why the SEC arrived at their pronouncements as well as silence on these various coins. The SEC responded that nothing that was ever said by Clayton, Hinman or any SEC official about bitcoin or ether was that was an “official determination” on whether they are securities. It appears that Netburn is not buying the SEC’s argument that their many statements were not material. In a March 22 hearing, she told the SEC her understanding of XRP: “. . . not only does it have a currency value but it has a utility, and that utility distinguishes it from bitcoin and ether.” This rejects the SEC’s story that XRP has never had utility. 

Netburn ordered the SEC to produce all communications related to XRP, bitcoin, and ether where a third party was involved, and any formal internal documents “expressing the agency's interpretation or views” on cryptocurrency, and to deliver them to Ripple. She granted most of Ripple’s motion, which means that the discovery could be a treasure trove of embarrassing information for the SEC. This could mean game over for the SEC’s case against Ripple and more largely, a serious blow to the agency’s credibility. Other defendants will cite the SEC’s arbitrary and capricious nature.

These disclosures could bring new headaches to scandal-plagued Apollo Capital Management which Clayton joined upon leaving the SEC, ostensibly to clean up the mess left by founder Leon Black and his links to Jeffrey Epstein. The timing of the lawsuit on Clayton’s last day and his subsequent hiring by a crypto-focused hedge fund are very curious coincidences. Conflict of interest concerns could also intensify for Hinman, now back at his old firm Simpson Thacher, which paid him a $1.6 million annual pension while he worked at the SEC. Hinman’s influence to the determination that ether is not a security keeps the SEC’s regulatory paws off Ethereum, the blockchain platform which Simpson Thacher supports as a member of the Ethereum Enterprise Alliance. Simpson Thatcher also handled the $100 million IPO of Canaan, the Chinese maker of machines used to mine cryptocurrency. Netburn’s order should bring much-needed transparency to the case.

Gary Gensler, slated to be confirmed as the next SEC chairman, will take the helm when China is racing ahead with a closed-ledger digital currency threatening to unseat the dollar a leading medium of global exchange. It was extremely shortsighted of the SEC to handicap Ripple at a time when the US needs every American crypto leader on board to compete with China. Moreover, the case seems to reveal that former SEC leaders put their personal gain above the well-being of the nation. When the agency repeatedly claims in filings and hearings that “the SEC is not on trial here”, it is almost certain that the opposite is true."

rom: Some may remember my text back in Dec2020, that the SEC case very much resembles a (business) war of control over some lucrative resource. Well, I've been finding more and more evidence, that SEC was indeed both a weapon and a mercenary in the case of Ripple. Beginning with Jay Claytonz and his vices carrier moves immediately after leaving SEC, there appears new evidence by the week. It will not take years to gather the big pic. 

Edited by rom
Minor editing for aesthetic reasons
Link to post
Share on other sites

Both XRP/OMG very bullish, they're moving in tandem and ready to go

There's a gap about 10-12 hour apart on each of their big move

My fantasy is move high to low when there is a 20% sats gap(actually ignore all the 0s on both sides of .) between them, not all but 50% of the capital from the high, starting from equal amount of capital for each coin.

How's this idea sound? @Plikk @automatic

Link to post
Share on other sites
9 hours ago, Xrpdude said:

Always take great interest in your posts, thank you for your insights! I'd be interested in what you think about a 'perma-bullrun' from this point onwards? A bit like the Nasdaq post 2000 crash? 

If a Perma-bullrun really happens, I am thinking who is going to stop the music? 

It must not be one of those Whales, they are the captain since day 1.

It must not be institutional players, they got on the ship this time.

It should be someone who feel threaten by BTC, I am guessing it is USD. The US gov will feel greatly threaten if BTC shoot through the roof to 100k or even 200k. With the rate USD is depreciating, everybody will be dumping USD to buy BTC insanely causing it to go even higher. The FED don't want this to happen, then we may see another round of FUD about crypto regulation later..

You know what I don't even take into account the Cold War between China and US right now. China has the initiative to push their own digital RMB to the world to replace USD. What is a better way to reduce USD strength to use BTC to beat USD first and then digital RMB to link up with BTC somehow. At the end of the day, China is controlling > 50% of the BTC mining power... 

Edited by jockeyng
Link to post
Share on other sites
6 hours ago, jockeyng said:

China is controlling > 50% of the BTC mining power

that number is going down, however, with operators like Great American Mining and Validus Power Corp. Mining in China and directing hashrate towards Chinese mining pools is not the same and as soon as North American or even European mining pools come into existence the picture may change rather fast. Stranded energy can be found in many places.

 

6 hours ago, jockeyng said:

push their own digital RMB to the world to replace USD

they'd have to replace the estimated $60tr worth of Eurodollars for that. Weather that's possible is one question, but it's definitely not something that can be accomplished over night. And time is not on anybody's side in the fight against bitcoin. The networks keeps chugging along, one block at a time (every 10 mins).

Link to post
Share on other sites
1 hour ago, Nat99 said:

that number is going down, however, with operators like Great American Mining and Validus Power Corp. Mining in China and directing hashrate towards Chinese mining pools is not the same and as soon as North American or even European mining pools come into existence the picture may change rather fast. Stranded energy can be found in many places.

 

they'd have to replace the estimated $60tr worth of Eurodollars for that. Weather that's possible is one question, but it's definitely not something that can be accomplished over night. And time is not on anybody's side in the fight against bitcoin. The networks keeps chugging along, one block at a time (every 10 mins).

I know that this is kind of off topic and I don’t mean to sidetrack the thread but, something I don’t see being spoken about is: With all this cryptocurrency getting crazy valuations (and of course everybody “knows” it will correct after the bullrun is over until the next cycle), what will that mean for every other major currency? This is all a very complicated economical problem, in my opinion with my limited knowledge of economics. If BTC ends up being worth 400k or whatever number it may be, and we have all these people cashing out, many becoming millionaires, what impact will that have on the economy? What does it mean for the dollar, for example? If you had 1btc you bought last year for 7k, and you cashed out later this year at 400k, how much is that 400k really worth by then? Are we gonna see extreme inflation with all these big events that have been happening? Covid-19, trillions being printed by the government to somehow justify the lockdowns which in my opinion were, and CONTINUE to be a massive overreaction. Then you have the S&P500 which also has reached new ATH post covid-19. Add to that this huge valuation to soooo many crypto projects and you have an insurmountable amount of money moving around. A wealth redistribution of sorts. I don’t know if I’m thinking about it or complicating it too much, making a big deal out of nothing just because I don’t really understand it, but I think all these things could add up massively and cause some pretty bad inflation. I don’t know, I just find it extraordinary that if things go as we hope, I’ll literally be able to buy a lambo (although I won’t, I’m not that type of guy, I’ll still keep driving my 2014 civic which is in pristine condition and well maintained, as is everything else under my ownership) At MOST I’d just get a used Lexus or a 4th gen TL manual SH-AWD. Anyone care to chime in? Perhaps in a different thread of its own from someone who actually understands economics. Tag me in it if you do start it, please. 

Link to post
Share on other sites

@Neurotoxin, you are infected with FOBM (fear of becoming a millionaire). When the price of btc hits 400k, there can be max 8,4 million bitcoin millionaires (I suppose many of them are already).

According to https://www.visualcapitalist.com/changes-to-the-worlds-millionaires-2020/ , the world gained 5 632 000 millionaires in a single year (from 2019 to 2020 and despite the pandemic). Total number of millionaires in 2020 was around 46,8 million.
So you can easily disappear into the anonymity of the mass of old and new millionaires.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.