patrick.net

B.A.C.A.H. says

G36 says

I wont create another post until we may hit 100k for Bitcoin or so.

Do you have a prediction for when that will be?

I would say during the bull run (which we have entered) we could see easily 30%-40% corrections. Since this is now a bull market driven by institutional investors I dont think a 3x from here within this year is unrealistic. Who would have thought that Paypal gets big into the crypto game a year ago? Within this year I think 100k is easily doable.

G36 says

Retail investors are not in the market yet

And we won't be. The entry point is too high for us.

If we want a type of money that's an alternative to fiat, the entry points for gold and silver bullion are more attainable, like $2k or $25. But not $33K for a bitcoin. It's too late for us schmucks.

B.A.C.A.H. says

G36 says

Retail investors are not in the market yet

And we won't be. The entry point is too high for us.

If we want a type of money that's an alternative to fiat, the entry points for gold and silver bullion are more attainable, like $2k or $25. But not $33K for a bitcoin. It's too late for us schmucks.

@B.A.C.A.H.
You can purchase half, quarter or even less of a bitcoin (satoshis). You can purchase and own a piece of Bitcoin for even $10 or less.
Since many potential crypto investors think like you, they buy "Altcoins". For instance Ethereum, Litecoin, Cardano (ADA).

B.A.C.A.H. says

And we won't be. The entry point is too high for us.

If we want a type of money that's an alternative to fiat, the entry points for gold and silver bullion are more attainable, like $2k or $25. But not $33K for a bitcoin. It's too late for us schmucks.

You can use ROBINHOOD to buy 1/100th a Bitcoin. Just to have some exposure.

G36 says

You can purchase and own a piece of Bitcoin for even $10 or less.
Since many potential crypto investors think like you, they buy "Altcoins". For instance Ethereum, Litecoin, Cardano (ADA).

Which one do you recommend?

@B.A.C.A.H. It depends on what this purchase means to you.

1) If this is play money (gamble) I have something for you. You could sign up with Robinhood and put a few bucks into Dogecoin. That's a meme coin that Elon Musk keeps tweeting about. I threw some play money in it. Its trading at a penny currently. It was trending on Twitter today....see this as a popular penny-stock-like gamble coin.

I did great with Doge....but again, this isn't something I would put serious money into....see my portfolio percentage...



2) If this is a 6-12 month investment for you I would do the following strategy:
Get some exposure to Bitcoin and Ethereum (currently below 800 dollars).
There are other coins like Cardano that I personally have a significant stake in but in the US you can only buy this crypto on certain exchanges (http://binance.us/ , Kraken.com)
I would also get signed up with Coinbase.com and look into some of the coins there (Litecoin, Chainlink for instance).

G36 says

2) If this is a 6-12 month investment for you I would do the following strategy:
Get some exposure to Bitcoin and Ethereum (currently below 800 dollars).
There are other coins like Cardano that I personally have a significant stake in but in the US you can only buy this crypto on certain exchanges (http://binance.us/ , Kraken.com)
I would also get signed up with Coinbase.com and look into some of the coins there (Chainlink for instance).

Thank you for sharing, G36.

Gosh Wookieman, this is specific advice. Not some vague platitude.

B.A.C.A.H. says

Gosh Wookieman, this is specific advice. Not some vague platitude.

He's giving you advice to buy. Has nothing to do with what it actually is you'd be investing in. Go for it if you want. I won't and can't stop stupid. I try, but this is why he's commenting here. Do it in enough places and you'll get 100 people throwing $1k at it. Understand you're the mark. Risk what you can.

What, exactly, is Coinbase?

GlocknLoad says

What, exactly, is Coinbase?

@GlocknLoad

Its the largest US based company for cryptocurrency exchanges.... basically a website where you can purchase, sell or hold crypto.
Think of it like vanguard, schwab, fidelity....just for cryptos.

Bitcoin's pumping again....when will we finally see a pull back/correction.

This was Dec 28 when I said ETH will be at 800 soon...


a few days later (today):

By what date will we see BTC at $100,000?

$34,200

BayArea says

By what date will we see BTC at $100,000?

@BayArea
Highly likely we will see a blow-off top and sharp retracement in the short-term. Cant imagine Bitcoin will go to 100k in a straight line. The market has its way to shake out weak hands that panic when Bitcoin pulls back. Bitcoin is in price discovery mode as we have no historical support/resistance levels at these prices. So, how steep it will pull back is anyone's guess.

The number two cryptocurrency by market cap (Ethereum) has high potential IMO
I assumed it's very likely ETH will hit 800 in the short-term. Well, it jumped to 950. The previous all time high for Ethereum is at 1.4k. Bitcoin is trading way above its previous all time high already while ETH is only at 70% ish of its previous all time high. Until now institutions only invested in BTC as far as I know. Imagine institutions start allocating funds into ETH.....

WookieMan says

Has nothing to do with what it actually is you'd be investing in

Hoarding money in fiat or otherwise form, is not investing. It's just hoarding money.

An argument can be made, that using tulip bulbs as a store of value is investing. Because the bulbs can be propagated and the flowers produce seeds.

I don’t get it. Is anyone putting significant money into BTC? I get it might be fun to put 1K into it so you can brag about your 100% return to your buddies. But at the end of the day you make 1k and you get to? Take a cheap vacation?

To make real money here you gotta risk hundreds of thousands of dollars. Whose going to do that? How do you sleep? What do you do when quantum cpus break the whole algorithm?

ignoreme says

Is anyone putting significant money into BTC?

@ignoreme
I put close to 40k into crypto this year and I am not done investing in it. 28k into BTC, the rest in ETH, Cardano and some other coins. Not sure if you call that significant money or not. Compared to hedge funds, PayPal, Square my investment is pennies.
Ethereum (ETH) just increased by 35% within a week. You can buy ETH for less than 1k. You can also buy shares of Bitcoin.

check out what publicly traded companies put in:



I sleep just fine. I dont NEED the money I put in crypto to pay bills, save and invest otherwise. This is just a form of diversification for me.

holy moly....Ethereum just hit 1k! It was freakin $700 on Dec 28th...

G36 says

holy moly....Ethereum just hit 1k! It was freakin 700k on Dec 28th...

Ouch. Sounds like a pretty big loss.

ETH has pulled a 7x within the last 12 month.

I do regret not buying a graphics card before Christmas.

....if you cant beat them, join them. Banks are now getting into crypto.

https://www.forbes.com/sites/haileylennon/2021/01/04/occ-regulator-implements-groundbreaking-cryptocurrency-guidance-for-banks-and-the-future-of-payments/?sh=36f7f09227e9


"Today’s Interpretive Letter per Brian Brooks (Office of the Comptroller of the Currency)

Today the OCC published Interpretive Letter 1174, which explains banks may use new technologies, including independent node verification networks (INVNs) and stablecoins, to perform bank-permissible functions, such as payment activities. Said simply, a bank may use stablecoins (cryptocurrencies designed to minimize the price volatility) to facilitate payment transactions for customers.

In doing so, a bank may issue stablecoins, exchange stablecoins for fiat currency, as well as validate, store, and record payments transactions by serving as a node on a blockchain (INVN)."

Big news! Congratulations to all Crypto holders!

"U.S. regulator says banks can use stablecoins, connect to blockchains"

https://www.marketwatch.com/story/crypto-prices-jump-after-u-s-regulator-says-banks-can-use-stablecoin-connect-to-blockchains-11609811050

JPM changed their mind and is now bullish on Bitcoin

https://www.bloomberg.com/news/articles/2021-01-05/jpmorgan-sees-146-000-plus-bitcoin-price-as-long-term-target

JPM recognizes that Bitcoin rivals gold.

"Bitcoin has the potential to reach $146,000 in the long term as it competes with gold as an asset class, according to JPMorgan Chase & Co."

IMO, Bitcoin is much better than gold. Its Gold 2.0 or simply put Digital Gold.

Bitcoin pumping!

I recommended Eth (Ethereum) on Dec 28 when it was at 700.....now look at it!

The crypto market is skyrocketing....We are about to break the 1Trillion market cap for the entire crypto market the first time in history!

Top coins by market cap are exploding in value

Bitcoin broke 36k!!

YES!!....1 Trillion market cap for Crypto! First time in history! Congrats to all Crypto holders!
BTC approaching 37k now....

Bitcoin broke 38k for the first time in history. The market cap has exceeded Alibaba's. Bitcoin is about to enter the top 10 asset class list by market cap!

Had my coffee and checked my emails....in the meantime Bitcoin jumped from 38 to over 39K. Happy January! Maybe we should re-name January to Bitcoin-ary?

Where are the crypto mutts? I blocked the crypto mutts that nothing but ignore can silence

@cash
well, when you are a Bitcoin hater and post for YEARS trash about Bitcoin and then see it skyrocket to 40k after you predicted it will go to 8k by year end, then I understand the
silence :)

Thank you Bitcoin for slapping the Bitcoin haters daily.

Retail investors are entering the market. Like I said before, history rimes. Bitcoin's bull run drives daily media coverage which drives retail investors.

institutional buying pressure>media attention>retail>

This thread is getting a little long in the tooth, let's throw up a TSLA chart instead and proclaim what geniuses we are.

@Dholliday126
You dont seem excited about Bitcoin's success. I could pull up my Tesla gains. But thats not so exciting to me. What excites me about Bitcoin is that all these haters are quiet now after predicting "the bottom will fall out", "It will go to 8k by year end"...."(insert whatever comes to mind)"
Does it trigger you when I celebrate Bitcoins impressive bull run? Maybe its time for you to hit the ignore button.

personal

G36 says

@Dholliday126
You dont seem excited about Bitcoin's success. I could pull up my Tesla gains. But thats not so exciting to me. What excites me about Bitcoin is that all these haters are quiet now after predicting "the bottom will fall out", "It will go to 8k by year end"...."(insert whatever comes to mind)"
Does it trigger you when I celebrate Bitcoins impressive bull run? Maybe its time for you to hit the ignore button.

I'm actually a bitcoin, altcoin fan. I just think its a little annoying when people gloat about their gains.