An insight on Bitcoin

[Zan15]

The guy might have overdosed on technical analysis but on this he is right. That's how fucking dumb you are, a guy I think is a moron is more right than you.

Every fucking time you hear someone who doesn't understand crypto they blather on about volatility. That's unbelievably fucking stupid. If any well-known companies stock went up as much as bitcoin NO ONE would be mentioning volatilty. They'd be saying "wow that's gone up a huge amount!".

Yah volatility was sure not a discussion when GME and AMC were going up by a huge amount.....nope....not at all.....or more recently on a particular SPAC in the last couple days. Nope no one said boo about volatility. /s



they might not mention "volatilty" cause i am not sure what "volatilty" is.

[Grimbold21]

Harmony showing some.... interesting growth

[msavcenko813]

I think that if all goes well, by the end of 2021, the value of bitcoin could be close to $100,000

[ranzino]

I think that if all goes well, by the end of 2021, the value of bitcoin could be close to $100,000

it will require another ~40k hiccup for that 6 figures threshold

[C20]

it will require another ~40k hiccup for that 6 figures threshold

The recent ETF launch on NYSE went a big way towards helping the market trend upwards.

Gaining 40K in ~2 months sounds crazy, but a ~60% increase shouldn't be ruled out. We've seen it pull that sort of trick before in its early days (it gained 300%, and went from $15 to $45 within a few days back in ~2012/2013), and even a few times through it's life. The rise from 20K to 40K seemed to happen pretty quickly, and then it had some ups and downs while reaching 60K.

With that said, I'm of the opinion that 100K by close of year probably won't happen. It's just sort of hovering right now, and there doesn't seem to be any major catalysts forcing it to go in either direction by a significant amount. Then again, things change day to day and even minor news can cause larger fluctuations than expected.

Perhaps some conclusion to the XRP case will trigger the market to lose confidence (if the SEC wins), or to gain confidence (if Ripple win). It's not that XRP is carrying bitcoin (bitcoin is by far the heavy hitter in the space), but if Ripple win, the market would likely see that as a major positive sign about the acceptance of crypto in a legal sense and a glimpse into the future of the space.

[Grimbold21]

Ufff correction time?

My earnings dropped quite a bit from yday to this morning

[hellhamster]

Ufff correction time?

My earnings dropped quite a bit from yday to this morning

My portfolio is down 5% from yesterday, biggest loss was Cardano. Which is a shame, because the total crypto market cap was poised to go for new all time highs today.

If that's the correction I have been shouting about from the rooftops for the past 3 weeks or so, then this feels pretty meh so far.

Let's see how it fares with the Chinese stock market open tonight.

- - - Updated - - -

The recent ETF launch on NYSE went a big way towards helping the market trend upwards.

Gaining 40K in ~2 months sounds crazy, but a ~60% increase shouldn't be ruled out. We've seen it pull that sort of trick before in its early days (it gained 300%, and went from $15 to $45 within a few days back in ~2012/2013), and even a few times through it's life. The rise from 20K to 40K seemed to happen pretty quickly, and then it had some ups and downs while reaching 60K.

With that said, I'm of the opinion that 100K by close of year probably won't happen. It's just sort of hovering right now, and there doesn't seem to be any major catalysts forcing it to go in either direction by a significant amount. Then again, things change day to day and even minor news can cause larger fluctuations than expected.

Perhaps some conclusion to the XRP case will trigger the market to lose confidence (if the SEC wins), or to gain confidence (if Ripple win). It's not that XRP is carrying bitcoin (bitcoin is by far the heavy hitter in the space), but if Ripple win, the market would likely see that as a major positive sign about the acceptance of crypto in a legal sense and a glimpse into the future of the space.

I'm of 3 opinions right now. If you lock 4 Greeks in a room, you will hear 12 opinions on how to break out. But anyway, this is at play now, all equally likely.

Scenario 1, I've been preparing for this: Bitcoin receives a massive omega pump with some ultra bullish ETFs being announced, it gets a blow off top of 100K-120K by the end of the year due to the yearly mania during Christmas time, we get a correction, a consolidation, an alt market explosion, and a massive 60% crash to 45k for Bitcoin, 80% for most alts that will last a year or 2.

Scenario 2, I'm also prepared for this but to a lesser degree: Bitcoin receives a lukewarm pump to a very modest 80k by the end of the year, a consolidation and a sharp correction to 52k, in which we get a massive alt season that follows the ETH merge from POW to POS. After that, Bitcoin continues to pump to a modest 150k by the end of next year, then crashes hard to a 3 year bear market.

Scenario 3, I'm not prepared for this quite well, because it seems kinda unlikely but never out of sight:

Bitcoin fails to go higher than the all time high, double tops, then crashes for another round of Wyckoff to a modest 41k for several months before stabilising and trying again. This is ultimately, the most boring, and by definition, the most probably scenario due to its boringness.

I'm inching towards option 2 and 3 right now.

[Grimbold21]

My portfolio is down 5% from yesterday, biggest loss was Cardano. Which is a shame, because the total crypto market cap was poised to go for new all time highs today.

If that's the correction I have been shouting about from the rooftops for the past 3 weeks or so, then this feels pretty meh so far.

Let's see how it fares with the Chinese stock market open tonight.

On the one hand, I was enjoying the Harmony pump, on the other, I was hoping for a dip to buy some more of it (and so I did).

[hellhamster]

Decent fakeout on the head and shoulders. If bitcoin closes above 61.5k tonight, get ready for new all time highs very soon.

Edit: if it doesn't, we got one more dump left to 57k before swinging higher.

[Elegiac]

Is this from a word generator, or does this gibberish actually have meaning to people?

It has meaning, just not one that is very flattering to people obsessed with crypto.

I am often asked if I will “return to cryptocurrency” or begin regularly sharing my thoughts on the topic again. My answer is a wholehearted “no”, but to avoid repeating myself I figure it might be worthwhile briefly explaining why here…

After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity. Despite claims of “decentralization”, the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralized financial system they supposedly set out to replace.

The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naive. Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable. Cryptocurrency is like taking the worst parts of today's capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person.

Lose your savings account password? Your fault.
Fall victim to a scam? Your fault.
Billionaires manipulating markets? They’re geniuses.

This is the type of dangerous “free for all” capitalism cryptocurrency was unfortunately architected to facilitate since its inception. But these days even the most modest critique of cryptocurrency will draw smears from the powerful figures in control of the industry and the ire of retail investors who they’ve sold the false promise of one day being a fellow billionaire. Good-faith debate is near impossible.

This dude was the co-creator of Dogecoin, just fyi.

[hellhamster]

It has meaning, just not one that is very flattering to people obsessed with crypto.



This dude was the co-creator of Dogecoin, just fyi.

They teach that at university, and it's been a science since the 1920s.

[Grimbold21]

Is it already time again for "sources that add on to my confirmation bias?"

[Elegiac]

Is it already time again for "sources that add on to my confirmation bias?"

Oh hey, it's my stalker again!

[jonnysensible]

i do like looking at :



the walls are closing in on tether, when it hits the wall it will be awesome

[Grimbold21]

Oh hey, it's my stalker again!

Inflated sense of one's own importance: Check.

[hellhamster]

This is stock market levels of boring. Come on, do something!

[Themius]

This is stock market levels of boring. Come on, do something!

I check my stock portfolio once a month or so. I’m always surprised it’s going up so much. Little over 13% during the past year.

[NED funded]

To this day I dont get the purpose of crypto that isnt scamming ppl or avoid paying taxes

Like I dont even think its a suitable replacement for money at this point

So much energy to invent the digital equivalent of gold, except you can use gold for electronics

[Ursus]

To this day I dont get the purpose of crypto that isnt scamming ppl or avoid paying taxes

Well there's at least one more, criminals love using it too.

[hellhamster]

Well there's at least one more, criminals love using it too.

Whereas criminals don't use fiat money