Coingecko Posted March 10 Share Posted March 10 On 3/3/2023 at 5:03 PM, Eric123 said: The drop was blamed on Silvergate's anticipated collapse. These collapses are having less and less of an effect on price. This is not aging very well. Apparently they do. NeuralEarth 1 Link to comment Share on other sites More sharing options...
Eric123 Posted March 10 Author Share Posted March 10 (edited) 7 hours ago, Coingecko said: This is not aging very well. Apparently they do. Unless it breaks the previous low caused by the FTX collapse, I'm claiming I was right on this one. Also I bought more Bitcoin last night. last time I bought it was under $17,500 Edited March 10 by Eric123 NeuralEarth 1 Link to comment Share on other sites More sharing options...
Coingecko Posted March 10 Share Posted March 10 2 hours ago, Eric123 said: Unless it breaks the previous low caused by the FTX collapse, I'm claiming I was right on this one. Also I bought more Bitcoin last night. last time I bought it was under $17,500 Good for you. I stick to my point: These collapses are having less and less of an effect on price. I don't see the diminishing effect, Bitcoin is as vulnerable as it has ever been. NeuralEarth 1 Link to comment Share on other sites More sharing options...
Eric123 Posted March 11 Author Share Posted March 11 20 hours ago, Coingecko said: Good for you. I stick to my point: These collapses are having less and less of an effect on price. I don't see the diminishing effect, Bitcoin is as vulnerable as it has ever been. This his price fluctuation isn't that large, especially in the face of a possible banking sector collapse. If the Fed is forced to change course, just watch the recovery in price that Bitcoin makes. The banking sector is vulnerable, tech stocks are vulnerable, currencies are vulnerable but one bitcoin still equals one bitcoin. Just read an interesting article which stated that 25% of USDC deposits were held at SVB. With all the FUD going around about tether it would be ironic to see USDC be the stable coin to go under.(not that it will, but USDC is certainly vulnerable). dtpace 1 Link to comment Share on other sites More sharing options...
StrangeDays Posted March 11 Share Posted March 11 4 hours ago, Eric123 said: The banking sector is vulnerable, tech stocks are vulnerable, currencies are vulnerable but one bitcoin still equals one bitcoin. And one dollar will always equal one dollar, so what's your point? Link to comment Share on other sites More sharing options...
Eric123 Posted March 13 Author Share Posted March 13 Bitcoin got swept up in the panic but recovered to where it was. Next stop looks to be $30k. On 3/11/2023 at 1:58 PM, StrangeDays said: And one dollar will always equal one dollar A dollar isn't a dollar the same way a bitcoin is a bitcoin. dtpace 1 Link to comment Share on other sites More sharing options...
RipMcGillicuddy Posted March 13 Share Posted March 13 If you just keep saying next stop is 30k I suppose you will be right eventually. Zerosh and Eric123 2 Link to comment Share on other sites More sharing options...
StrangeDays Posted March 13 Share Posted March 13 7 hours ago, Eric123 said: A dollar isn't a dollar the same way a bitcoin is a bitcoin. Thank you Eric. Fantastic insight. I'll leave it at that and let others contemplate your reply. Nat99 and Eric123 1 1 Link to comment Share on other sites More sharing options...
Zerosh Posted March 14 Share Posted March 14 5 hours ago, StrangeDays said: Thank you Eric. Fantastic insight. I'll leave it at that and let others contemplate your reply. lol... ultimately, btc is to be converted to dollar for usage, and if a dollar now is not a dollar in the future, so is btc, as long as btc is valued using dollar, otherwise a btc is a btc just sounds like maxi preacher to me.. no different than michael saylor keep harping about the greatness of btc Eric123 1 Link to comment Share on other sites More sharing options...
Nat99 Posted March 15 Share Posted March 15 On 3/14/2023 at 3:29 AM, Zerosh said: lol... ultimately, btc is to be converted to dollar for usage, and if a dollar now is not a dollar in the future, so is btc, as long as btc is valued using dollar, otherwise a btc is a btc just sounds like maxi preacher to me.. no different than michael saylor keep harping about the greatness of btc Saylor has a very narrow view of the USD, inflation and balance sheet expansion. You might have noticed that in BTC circles, the same narratives get regurgitated by a bunch of people. Saifedean, Foss, Saylor, Leclair, Lowry et al. perform a gigantic circle jerk and nowbody is willing to stand aside and look critically at things. It's hard to do when you're in a cult-like dynamic, which the BTC community probably is. Then they come and bash Buterin, who says that a soft fork is kind of a coercive act. Just look at the statement and he's right, but of course the "us vs. them" mentality won't let them see the shades of grey because everything has to be black and white. Central Banks = evil, fiat = bad, BTC = immaculate conception, governmants = evil, Bitcoiners = holy. They even attack each other for not being pure enough, see Nic Carter. "Die Revolution frisst ihre Kinder" is a German saying (The revolution eats its own children). What @Eric123 is refering to with his comment is, that there are only 21mio BTC. Make of it what you want, but the fact is that there are not unlimited amounts of USD. Is it good, is it bad? I have arguments for both elastic and inelastic money. The truth is probably in the middle, just don't tell that to Bitcoiners. What is likely true, though, is that scarcity is an indicator for price increases over time. Make of it what you want. I for once, prefer owning a Stradivari, vs. owning a recently produced factory violin. Both can be used today, but one cannot be reproduced. Frisia, Eric123 and XRPchef 3 Link to comment Share on other sites More sharing options...
Nat99 Posted March 15 Share Posted March 15 @Eric123thanks for keeping this journal alive. Been reading since March 2020 and on and off since 2018. Appreciate your efforts. It's one of the few places I keep comming back to, no matter how short your comments are. Thanks again. Eric123 1 Link to comment Share on other sites More sharing options...
Eric123 Posted March 15 Author Share Posted March 15 Bitcoin has been trading in a range consolidating and moving up. Next consolidation point seems to be $30k, other than that the only indicator I'm watching is really the MACD to turn positive on the Monthly Chart. As for what I'm doing, I bought bitcoin's dip Friday and I've been picking up Coreum before the snapshot. Link to comment Share on other sites More sharing options...
Eric123 Posted March 17 Author Share Posted March 17 XRP obviously is tied to news regarding the lawsuit, but the chart is looking interesting. DannyRipple and JASCoder 2 Link to comment Share on other sites More sharing options...
Eric123 Posted March 19 Author Share Posted March 19 Bitcoin's price is closing in on $30k I expect the price to consolidate there for while before moving up again. Link to comment Share on other sites More sharing options...
Eric123 Posted March 21 Author Share Posted March 21 Go Go XRP. When XRP goes it usually goes for a few days I'm guessing we have more green ahead. dtpace, Chookstar and HAL1000 3 Link to comment Share on other sites More sharing options...
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