patrick.net

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

Cash says

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

Presumptions? You don't think a billionaire can move your market up or down? It's not a promising story if you're holding money in BTC. They can lose millions in a minute like you losing $100 and get over it pretty quickly. When you play with people like that and you're not at their level, you're screwed. You will lose.

‘Stealth phase’ over? Why Wall Street FOMO will make $20K Bitcoin look cheap
https://cointelegraph.com/news/stealth-phase-over-why-wall-street-fomo-will-make-20k-bitcoin-look-cheap
The price of Bitcoin is up 125% year-to-date, making it once again the best-performing asset just as it has been for the past decade.

Wall Street’s Fidelity Mounts Defense For Bitcoin
In a bid to promote Bitcoin as a viable asset, Fidelity published a six-pronged response to most common criticisms.
https://www.fidelitydigitalassets.com/articles/addressing-bitcoin-criticisms?ccmedia=owned&ccchannel=social&cccampaign=bitcoin_myth_blog&cctactics=Twitterr

Cash says

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

What I am thinking. These guys are just like the haters on other sites. The minute crypto corrects they come out and celebrate. And while Bitcoin is going up, its bashing and misinformation all day long and the hope that it goes to zero.

The only "Low" that Bitcoin has on the comparison to Gold and Fiat is "Government issued". I can live with that. I would NOT want to invest in Bitcoin if a government would be behind it.
That's the entire reason for Bitcoin being so popular and successful. Its decentralized and scarce.





sry gold bugs, gold has the most "lows" on this comparison. I personally dont have anything against gold. Gold just doesnt have the same potential as Bitcoin and obviously Bitcoin has the better traits.

A must read:

https://news.bitcoin.com/hedge-fund-manager-brian-kelly-says-increasing-institutional-interest-in-bitcoin-down-to-its-fixed-supply/

"Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to build confidence in the top cryptocurrency while taking away some of the perceived risks."

"Bitcoin vs Gold
Bitcoin, which trades above $16,150 at the time of writing, has a total market value of over $300 billion. In contrast, the total value of known gold stocks is $9 trillion, a figure that dwarfs bitcoin’s total market value several times over."

$9 Trillion market cap for Gold, 300B for Bitcoin. That to me is incredibly bullish for Bitcoin. Bitcoin is viewed as digital gold.

G36 says

That's the entire reason for Bitcoin being so popular and successful. Its decentralized and scarce

it still has the problem of
- most people don't understand it (including me)
- it's value is questionable because you can't buy anything with it in most places.
- volatility is out of this world

Great points FortWayne,

think of Bitcoin as digital gold. In case you have some questions or if something confuses you, don't hesitate to ask. I can probably answer some of the questions and google the other ones.

When you look at the comparison chart it shows Bitcoin's traits compared to Gold and Fiat. Its not meant for day-to-day purchases. Its viewed as digital gold. You wouldnt want to use your gold brick at home to buy a starbucks coffee either. The term digital gold really upsets gold bugs. So be aware.

Volatility is probably my favorite thing about Bitcoin.
If you invest in holding dollars in your back account you lose purchasing power.
If you invest in gold you have shiny things to look at. Yeeah!
And if you speculate with Bitcoin your holdings might increase in value tremendously.

FortWayneAsNancyPelosiHaircut says

- most people don't understand it (including me)

Wait till the Treasury has direct access to your banking accounts and how it progresses once they do. I believe lots of people will be motivated to apply some effort to understand how and why crypto will be extremely beneficial https://www.congress.gov/116/bills/s3571/BILLS-116s3571is.xml

FortWayneAsNancyPelosiHaircut says

- it's value is questionable because you can't buy anything with it in most places.

You can actually buy most anything you wish even https://bitcoin-realestate.com/ How Many Businesses Accept Bitcoin? The Bottom Line https://www.fundera.com/resources/how-many-businesses-accept-bitcoin It’s easy to assume that you can only buy computer repairs or software with bitcoin. But this master list of all the US businesses that accept bitcoin proves otherwise. Whether you want to buy alpaca socks in Massachusetts, spring for hypnosis in California, or donate to a church in Kentucky, you can make all of these eclectic transactions with bitcoin.

FortWayneAsNancyPelosiHaircut says

- volatility is out of this world

I agree with G36 G36 says

And if you speculate with Bitcoin your holdings might increase in value tremendously.

Especially since in reality crypto is very much in it's infancy and major players are now more then comfortable getting into the game and many for the reason of security and store of value.

Cash says

Wait till the Treasury has direct access to your banking accounts and how it progresses once they do.

Lol... they already do through wage garnishments. And if they think you have something of value they can get a search warrant and grab all your data and know you traded crypto. It's too late man. You'd go to court and withhold your key and password and guess what, you'd be held for perjury and thrown in jail for not complying. They'd take gold too if you had it. Government gets what they want if they want it. Which is kind of amazing that Trump has lasted this long.

Either way, if it gets to that level it's highly likely public internet is shut down. If you cannot transfer it to someone else, it's worthless. All governments know this and have the ability to do so. That's why they allow it to go on and then tax you for your gains. They can shut the flow/transfer off tomorrow because "Covid."

Food, guns and water are more valuable if shit gets nasty. Staying alive is the name of the game and trying to connect to the internet to give some hill billy crypto while he's point a gun to your head and has no idea what the fuck crypto is, by default makes it worthless. You'll just be shot because you have a worthless Seagate hard drive. This is the reality.

Have fun and trade it all day. Make money. Just know what it is and stop getting so uptight when someone tells you what it is.

Cash a great point. If you hold your private keys by storing Crypto on a cold storage/hardware wallet, nobody can touch that. One of many advantages that crypto has over fiat.

To bring this into a scenario where you have chaos and unrest across the nation in which money doesnt matter anymore because power is replaced by whoever has more ammo is Sci-Fi. I don't believe this will happen anytime soon in the US. Surely fearmongers will disagree.

https://www.forbes.com/sites/michaeldelcastillo/2020/08/06/valuable-sec-data-on-20-institutional-bitcoin-investors-could-soon-disappear/?sh=462783841de2

20 Institutional Bitcoin Investors Revealed

Bitcoin’s Price Could Surpass $300,000 by December 2021, Says Citibank Exec
https://www.cryptoglobe.com/latest/2020/11/bitcoins-price-could-surpass-300000-by-december-2021-says-citibank-exec/
When the criminals speak listen lmhao They make it happen

And 2 million are going GOING to die from covid.

SHUT THE COUNTRY DOWN!

Onvacation says

And 2 million are going GOING to die from covid.

SHUT THE COUNTRY DOWN!

I've never believed the covid fearmongering.

But, the bullish news about Bitcoin is very believable/real to me. Its incredible that banks are now all in on Bitcoin. The market cap of Bitcoin is only 200B. Gold is a 9 trillion market. Think about the potential. I could easily see a 300k Bitcoin by end of 2021.

Thanks for sharing this article, Cash.

"Thomas Fitzpatrick, a senior executive at the U.S.-based financial giant Citibank, has published a report claiming the price of bitcoin could surpass $300,000 by December 2021, drawing on similarities between BTC and the 1970s gold market.

In its report, Fitzpatrick pointed to bitcoin’s weekly chart and, through technical analysis of prior lows and highs, determined his price target of $318,000 by December of next year. Pointing to bitcoin’s “exponential move” from 2010 to 2011, the analyst claimed it is “very reminiscent” of the 1970s gold mark."

https://www.cryptoglobe.com/latest/2020/11/bitcoins-price-could-surpass-300000-by-december-2021-says-citibank-exec/

G36 says

I've never believed the covid fearmongering.

Scamdemic!!! Sheeple like OV along with massive monetary conflict of interest keeps the ponzi scamdemic alive. OV is backwards covid is the ponzi scheam
not BTC lmao

G36 says

"Thomas Fitzpatrick, a senior executive at the U.S.-based financial giant Citibank

He is refered to as the MOON SHOT boy..... That is way to far ahead for my system of trade, for now I am following the strength of the 4hr which is reading "strong buy" and the follow through can be seen in the Vol rising, RSI >62 and gains in the ATR. On the longer time frames things are heating up but per my analysis there is still room which I am looking to sell around the 16800/17250+/- then buy the discount. https://invst.ly/sumza

Bitcoin ‘Decoupled’ Provides Limitless Profit Potential
https://weissratings.com/articles/bitcoin-decoupled-provides-limitless-profit-potential?mkt_tok=eyJpIjoiTVRFME9XWmxaV05sWXprNCIsInQiOiJjdkM0YWkxQlkzcnNzVThjUElKT25sRUQwNDFVQUZPeE1JMEV4cVwvdlBSZU1cL2tLNDNvenFRSHdjeXVFbWxRcDZOQm8zMnhwM0REUytFblhod1FGOFBZTjFDanBmWjVtZ1dVNGVBSXgyREJnNGdLT0Q4UDhvT1g3eHdBdWVzMXBMIn0%3D

Some interesting points, 1 argument I will make is watch how BTC reacts when the USD, BTC quote currency becomes over sold DX 88+/-?.
I still have all my positions due to USD weakness. As well DJI is looking to open -300+/- down atm... I am looking for BTC to test 17250 and it's reaction compared to
what the currency and equity markets are doing at the time.

Damn even the negative is a positive.
https://www.coindesk.com/druckenmiller-bitcoin-what-he-really-said
Bitcoin has more upside because of its market inefficiencies. Let that sink in: The very characteristics that many investors have cited as barriers to investment are what a renowned investor believes will award bitcoin a better performance.

Cash, congratulations! BTC ran up to your target range.

G36 says

target range

The price point on my dial is 17282.6 a breach of that area and DX staying down I will continue to hold. https://invst.ly/sv2-k
The coins I am stacking are BTC, ETH, SNX, LINK, XTZ, XRP and ADA

Buy Crypto, All the cool kids are doing it lmhao
#InstitutionalFOMO
It will be fun to watch crypto blowing up when the public finally goes #PublicCryptoFOMO
Banks creating crypto portfolios for their customers and then holding custodial and investment rights given them due
to "hell if most will know what the hell crypto is" They just will know they need some just like some metals.... lol

Cash says

G36 says

target range

The price point on my dial is 17282.6 a breach of that area and DX staying down I will continue to hold. https://invst.ly/sv2-k
The coins I am stacking are BTC, ETH, SNX, LINK, XTZ, XRP and ADA

Thanks for sharing! Freaking exciting times for crypto!!!

17500/18000/18250 on the way? ;) Plenty of room on the 4Hr for 17500 however some consolidation is in order at that area price is coming in hot so 18ks may have to wait atm https://www.tradingview.com/x/73RQNGGZ/

Cash, have you looked into trading crypto in a retirement account to avoid the tax impact?
Often they are for accredited investors and charge significant fees.

G36 says

trading crypto in a retirement account to avoid the tax impact?

I don't believe you can, in good time I think that will be possible once the banks start to use these instruments.

too bad....as you said, Bitcoin is still in its infancy.
Crypto is going nuts this morning. Great to watch!

G36 says

Crypto is going nuts this morning. Great to watch!

https://www.tradingview.com/x/J6aWYnSB/ If price can pop above with intent 18k is a easy soft tgt.... lol

I am assuming Cash_me_out is you? i gotta start following you on tradingview
Thanks!

G36 says

I am assuming Cash_me_out is you?

Who knows ;) Just to verify I'm not cashing out just yet.

Marc Andreessen: In 20 years, we’ll talk about Bitcoin like we talk about the Internet today
https://www.washingtonpost.com/news/the-switch/wp/2014/05/21/marc-andreessen-in-20-years-well-talk-about-bitcoin-like-we-talk-about-the-internet-today/
5years later
While the Global Economy Shudders, Andreessen Horowitz 'Excited' to Invest $500M Into the Crypto Industry
https://news.bitcoin.com/while-the-global-economy-shudders-andreessen-horowitz-excited-to-invest-500m-into-the-crypto-industry/

I am absolutely amazed with this crypto run. Market cap went from 400 to 500B in just a few weeks. Institution after institution is getting in but retail is un-aware (judging by google trends). Watch this curving up when BTC hits new ATH and the media is covering it day and night. Smart money comes first, retail later....

Cash, do you know where I can follow how many Bitcoin shorts are getting liquidated?

G36 says

I am absolutely amazed with this crypto run. Market cap went from 400 to 500B in just a few weeks.

Here is another amazing statistic dealing with capitalization w/i the crypto world "DeFi"in just 5 mo the gains have been exponential with a 1300% gain and I am anticipating an easy 700/800% more before a consolidation. however I guess we will see. . https://defipulse.com/
My main Defi coins "ETH is a must have" are the SNX, Link and ADA. SNX is basically the derivative king as far as DeFi is concerned as #1 holding Dominance of
83.69% and 9th in running in the DeFi ecosystem as a whole.

As far as BTC goes if it keeps tripping on price before it hits 18000 where a big sell wall waiting I am looking at 17350 for buyers to head back in and that could cancel the sells out and bring some FOMO of every kind... This volatility is just what I and most all traders are looking for, the more violent the better ;)

Thanks Cash!

I am planning on adding to my ETH position and also starting scaling into Link.
Can you buy SNX on Binance?

G36 says

do you know where I can follow how many Bitcoin shorts are getting liquidated?

A person can gauge some idea of trader sentiment using the depth charts (buy/sell walls) are you familiar? Also some use Crypto Fear & Greed Index Over Time https://alternative.me/crypto/fear-and-greed-index/ which is 5pts from the last recorded high 95 from this site 1 1/2 yrs ago... I love me some Greedy FOMO especially from institutional traders... What some may not realize the rich have money coming out of their butts , more then they know what to do with and a bunch will be entering this market.
Take it to the bank...

G36 says

Can you buy SNX on Binance?

You can as long as you are not a US citizen, even on Binance.us I can't trade due to the state in which I live, I guess it depends on state regulations as well as federal. Are you staking your ADA on the Daedalus wallet, I think its worth 4-5% I hold some their staking with the Angle pool. My SNX is in my Dharma wallet which if I remember I just transfered ETH and swapped out for SNX. You can buy SNX on Kraken I believe.

Is a good thing BTC slowing down here, let the price get hosed down a little it's steaming.