6.4

I was watching when bitcoin hit 20k in 2017, but I still can't quite believe when it happens again. Astounding.

upload pics

not sure how much action they took but wouldn't want to be in their shoes..

Quote: (05-10-2019 02:23 PM)Pinocchio Wrote:  


upload pics

not sure how much action they took but wouldn't want to be in their shoes..

yeah, there are several of them following the hyperwave bullshit that sounds fine in theory, but seems to be misunderstanding aspects of bitcoin.

I was looking through Leah's twitter feed, and it seems that the date of that tweet was in the mid-March time frame, yet I know that they have been continuing to spout out their hyperwave nonsense and even questioning whether we are in a genuine bullrun or manipulation.

Wedded to their nonsense and reluctant to concede that there is likely something a bit off my their confidence of such low numbers ($1,500), and even failing to recognize that the odds are becoming better than not that the bottom of $3,122 is likely "in" and likely going to be the current bottom for this cycle...

Of course, there are chances that the bottom is NOT in, but it is currently seeming to be less than 50% odds of that, currently... in other words, if the odds for up are becoming greater than the odds for down, then we are transitioning into a bull market.. does not mean that we won't get that 30% plus correction at some point, but we might witness considerably higher numbers before the inevitable 30% plus price correction hits us.

In times like this, even if we get a 30% plus correction, still feels good to be a BTC HODLer.... including that BTC's price has already surpassed 2x the mid- December 2018 bottom.., which would have been crossed at $6,244.. a couple of days ago, and currently, as I type, trading above $6,500 (just scratched into the $6,530 arena) on Bitstamp (lost bet for Leah and associates).

Quote: (05-10-2019 09:58 PM)JayJuanGee Wrote:  

Quote: (05-10-2019 02:23 PM)Pinocchio Wrote:  


upload pics

not sure how much action they took but wouldn't want to be in their shoes..

yeah, there are several of them following the hyperwave bullshit that sounds fine in theory, but seems to be misunderstanding aspects of bitcoin.

I was looking through Leah's twitter feed, and it seems that the date of that tweet was in the mid-March time frame, yet I know that they have been continuing to spout out their hyperwave nonsense and even questioning whether we are in a genuine bullrun or manipulation.

Wedded to their nonsense and reluctant to concede that there is likely something a bit off my their confidence of such low numbers ($1,500), and even failing to recognize that the odds are becoming better than not that the bottom of $3,122 is likely "in" and likely going to be the current bottom for this cycle...

Of course, there are chances that the bottom is NOT in, but it is currently seeming to be less than 50% odds of that, currently... in other words, if the odds for up are becoming greater than the odds for down, then we are transitioning into a bull market.. does not mean that we won't get that 30% plus correction at some point, but we might witness considerably higher numbers before the inevitable 30% plus price correction hits us.

In times like this, even if we get a 30% plus correction, still feels good to be a BTC HODLer.... including that BTC's price has already surpassed 2x the mid- December 2018 bottom.., which would have been crossed at $6,244.. a couple of days ago, and currently, as I type, trading above $6,500 (just scratched into the $6,530 arena) on Bitstamp (lost bet for Leah and associates).

I have no idea what is going to happen.

But in the 3 month period from sep to dec 2018 bitcoin rose from 4k to 20k.

And the same groups that pumped it to 20k in 2017 are still in charge, and have lost none of their potency.

Quote: (05-10-2019 11:15 PM)MrLemon Wrote:  

Quote: (05-10-2019 09:58 PM)JayJuanGee Wrote:  

[edited out]

I have no idea what is going to happen.

But in the 3 month period from sep to dec 2018 bitcoin rose from 4k to 20k.

And the same groups that pumped it to 20k in 2017 are still in charge, and have lost none of their potency.

Sure, anything is possible, but I suspect that we will not see new ATH, again until late 2020, at the earliest.

I would not mind being wrong, but it seems that recovery takes a while to play out.

Last bull run, in late 2017, as you mentioned, took about 2 years to play out - and the $4k to $20k portion of that was at the tail end of a run that was already in progress.

In my opinion, currently, we are no where near to having the kind of momentum that was in existence in late 2017.

Well, I'm convinced. Bear market is officially over. There will be some 20-40% dips but the bitcoin train is leaving the station.

Thoughts about alts season incoming? The bitcoin dominance seems to me being way too high right now.

Quote: (05-11-2019 04:32 AM)Giacomo Casanova Wrote:  

Thoughts about alts season incoming? The bitcoin dominance seems to me being way too high right now.

Here's a nice depiction of the current alt coin situation, as compared with bitcoin.

Anybody think this last 1500-2000$ run could be due to the trade war and uncertainty in China?

Quote: (05-11-2019 06:41 AM)Jaydublin Wrote:  

Anybody think this last 1500-2000$ run could be due to the trade war and uncertainty in China?

That kind of an explanation has not been provided by anyone, and of course, Bitcoin's price dynamics are frequently a combination of a variety of factors, including momentum and manipulation.

Yet, I do find that there is a bit of a seeming failure of the Tether/Bitfinex FUD along with the failure of the Binance hacking and related FUD that seem to be interesting aspects of the current BTC price dynamics.. more likely strength of underlying fundamentals ongoing recking of shorts that keep stacking up... .. yet not being fulfilled... which means that part of the ongoing bull run seems to be fueled on bear tears, which was mentioned in the underlying link of one of my earlier posts.

My bags aren't heavy enough, weird to be pissed off your investments are going up.

Quote: (05-11-2019 02:24 PM)Sidney Crosby Wrote:  

My bags aren't heavy enough, weird to be pissed off your investments are going up.

Anyone can become a bit nervous when the BTC price is moving so far and so fast in largely only one direction, and I have had to go through and restructure several of my sell orders - especially when so many of them get triggered, but it is supposed to be part of the plan, yet sometimes when orders are only filling in one direction, then it can become a bit uncomfortable.

Yes 7k this is great. Hope everyone longed it or held.

Quote: (05-09-2019 05:16 AM)longshots Wrote:  

what are you guys thinking of holding alts during this run? I hold a pretty large stack of VET and believe its massively undervalued at the moment however it seems like btc is gaining dominance with each day.

Makes me wonder if I should exchange my vet for btc and then get in to vet after btc stabilizes ?

The only shitcoin I have is NEO. I would pretty much put 99% of your portfolio in bitcoin. There is a good chance it will be a winner takes all (most) scenario.

Edit

This maximalist Bitcoin eating everything theory that is talked about online is not convincing. Greed is human nature and I just don't see this being upended in the next 3 years before the next bear market. When BTC price stabilises you'll see people throw money into alts as they've done for a decade.

In any case the market looks incredibly bullish and it's hard to deny that right now. I'm really glad I abandoned hyperwave theory. Outside of the Tone Vays retard circle all the smart people abandoned it when we saw BTC close above 5k on the weekly chart. Earlier in the thread I said 10-12k BTC before halvening but seeing 7k this early makes me think maybe ATH is possible too.

Translation: get into crypto soonish if you already haven't. You'll be up by May next year on your investment if you stick to BTC or the top alts.

To add to what burner said, the crypto market has a cycle:

1. Sideways / accumulation phase: Money flows into BTC, BTC goes up slowly while ALTs maintain fiat value but bleed in satoshis

2. Fast and sudden bull market: BTC shoots up, peaks, and then goes sideways while money flows into the ALTs, allowing them to moon

3. Bear market hits: BTC goes down as everyone goes for the exits to fiat... ALTs dump harder

Then repeat.

Right now, we are in step 1.

I admit.
Seeing 7k for bitcoin...it's pretty unbelievable.

I made a mistake of going out at 5.1~5.2k thinking that it will be rejected around 6k and I can buyback at 4k or below. That was a huge mistake, going back in the market...right now. I don't care. Bitcoin is still cheap if it does go up to 250k+ as I predict.

I plan to throw big money in but waiting for BTC price to correct. Hoping for 5400 level but TA analysts saying they don't see price going under 6k. In a bull market it has not been the case that the price dropped more than 40% from the top so that's roughly 4500 now. Will definitely margin long if that happens.

I understand now why they call it a bull run. Riding this bull is making me anxious. I've already more than doubled my initial investment. I should cut and run. But the HODL inclination is just too great to do that.

I think the key at this point is waiting for another consolidation.

The last consolidation (tight period for a few weeks) was that sideways action from April 1 to about April 22. I had the breakout level pegged at 5488 level ( coinbase) and I did buy when it rose above that on good volume (broke out). The problem was, I set a stop in case it reversed, which it did. So, I got stopped out. That's my method and I stick with it , even if some trades "leave me behind" because more often than not, when an asset corrects 8% or more after a breakout, it goes on to take a bath.

BTC however, reversed from that correction and of course, is now off to the races. Oh well, I'm hoping we can form another multi week consolidation ( 6800-7500 range?) that will form another pivot point. That would be healthy action. If it does and forms a good buyable pivot, I'll buy again. If done right, I'll eventually catch it and be on for the ride. BTC , for now, is extended and I would not buy here. Yeah, it could run to 15K from here, but, for risk management reasons, I don't buy extended stocks/cryptos.

Quote: (05-11-2019 09:09 AM)JayJuanGee Wrote:  

Quote: (05-11-2019 06:41 AM)Jaydublin Wrote:  

Anybody think this last 1500-2000$ run could be due to the trade war and uncertainty in China?

That kind of an explanation has not been provided by anyone, and of course, Bitcoin's price dynamics are frequently a combination of a variety of factors, including momentum and manipulation.

Yet, I do find that there is a bit of a seeming failure of the Tether/Bitfinex FUD along with the failure of the Binance hacking and related FUD that seem to be interesting aspects of the current BTC price dynamics.. more likely strength of underlying fundamentals ongoing recking of shorts that keep stacking up... .. yet not being fulfilled... which means that part of the ongoing bull run seems to be fueled on bear tears, which was mentioned in the underlying link of one of my earlier posts.

Here's a nice little article providing a variety of explanations for the current BTC price run-up.... Nothing in there about china.

https://www.cryptoglobe.com/latest/2019/...catalysts/


>>>>>>>>>>As Bitcoin Price Keeps Surging, We Examine Potential Catalysts

"-Improving technicals, such as last month's double break out of Bitcoin price upon the "Golden Cross"

-Traders exiting their Tether (USDT) positions and getting into Bitcoin and the major altcoins, especially the office of the New York Attorney General (NYAG) announced that it was investigating Bitfinex and Tether (and the resulting revelation that Tether was only 74% backed by cash and cash equivalents).

-Tether (USDT) managing to maintain its peg to the dollar despite all the drama surrounding Bifinex and Tether (unlike what happened in October 2018, when USDT fell to as low as $0.86).

-The countdown to Bitcoin's next block reward halving event, which is estimated to take place on 23 May 2020.
Bloomberg reporting on May 6 that Fidelity Investments "will buy and sell the world’s most popular digital asset for institutional customers within a few weeks."

-Reports that came out towards the end of last month about two of the biggest brokerages in the U.S., E*Trade Financial and TD Ameritrade, preparing to launch Bitcoin trading on their platforms

-The Wall Street Journal's article (published on May 2) about Facebook's crypto-based payments system.

-Diar Research reporting on May 6 that the "number of transactions on-chain is also just shy of the all-time-high of December 2017."

-The realization by many that "we must be in a bull market" after the attack on Binance on May 7 since it seemingly had no negative impact on the price of Bitcoin.

-U.S. Congressman Bradley Sherman (D-CA) asking his colleagues to introduce "a bill to outlaw cryptocurrency purchases by Americans" being taken as a bullish sign by many fans of crypto, such as Anthony Pompliano (aka "Pomp), who said on May 10 that Congressman Sherman's remarks only served as an ad for crypto and helped to confirm its validity.

-New York City Blockchain Week.

-The Fear of Missing Out (FOMO). "
<<<<<<<<<<

No one is mentioning that Binance paused deposits and withdrawals this week, allowing them to p&d price as they please

(they just resumed them)

Tell me this looks organic

Quote:[url=https://twitter.com/soleil_dusoir9/status/1127591521631506432][/url]

Quote: (05-12-2019 10:18 AM)redbeard Wrote:  

No one is mentioning that Binance paused deposits and withdrawals this week, allowing them to p&d price as they please

(they just resumed them)

Where are you seeing that Binance resumed deposits and withdrawals? I'm seeing that they are still suspended on the exchange. No announcements or chatter about them being reopened either.

Quote: (05-12-2019 01:39 AM)bgbusiness Wrote:  

I admit.
Seeing 7k for bitcoin...it's pretty unbelievable.

I made a mistake of going out at 5.1~5.2k thinking that it will be rejected around 6k and I can buyback at 4k or below. That was a huge mistake, going back in the market...right now. I don't care. Bitcoin is still cheap if it does go up to 250k+ as I predict.

I would think that a kind of incrementalist plan and dollar cost averaging would work better than attempting to go balls to the walls with all in and all out approaches that try to anticipate the price moves of an asset, such as bitcoin, that frequently goes counter to sentiment... at least in the short term.

In the end, many of us realize that in the longer term, BTC prices are going to go up, and even likely to go up in a BIG way, but in the meantime, there is all kinds of shenanigans and manipulation taking place in bitcoin on a regular ongoing basis.