Bitcoin price discussion and analysis

[Smurf1976]

Ironic ? many people feel this way with blockchain technology

Bitcoin is a use of blockchain but Bitcoin isn't itself blockchain just as the evening news isn't the whole of television, just one use of it.

Blockchain being adopted as a technology in no way guarantees anything about Bitcoin.

As a use of blockchain, Bitcoin might turn out to be a Facebook or Google or in the long term it might turn out to be a Myspace or Alta Vista.

 

[ducati916]

Bitcoin is a use of blockchain but Bitcoin isn't itself blockchain just as the evening news isn't the whole of television, just one use of it.

Blockchain being adopted as a technology in no way guarantees anything about Bitcoin.

As a use of blockchain, Bitcoin might turn out to be a Facebook or Google or in the long term it might turn out to be a Myspace or Alta Vista.

Exactly. The blockchain is only indirectly an issue with BTC.

A couple of excerpts from a longer article:



No way that governments give up their control of the money monopoly. To do so would be to relinquish significant power.

If you agree with that, then BTC's days are numbered before it is outlawed.

As a government, you want to introduce a digital fiat currency. We have BTC. Let BTC and its proponents condition the population to digital currencies. Then, move to have oversight and regulation with greater transparency: Coinbase etc. With transparency, BTC and other digital tokens come off of the dark web, where there is little transparency. Introduce your digital fiat dollar and make illegal all others.

Of course devotees of BTC will not give up. They will continue to HODler and trade it on the dark web (hopefully) out of sight of the Regulators, Police, etc. The point however is that it will never be mainstream. It will be relegated to the backwaters. As a safeguard of value, it will still have a place, but the nominal value will be what, higher or lower? I'd say lower.

With gold/silver, you have a historically proven method of escaping the clutches of government, while remaining in the mainstream: holding the actual physical. This is not for speculation and trading. This is for basic survival if the government kills the fiat through their move to outright, continued MMT.

Which brings me to the greater value of gold. If the government did kill the fiat dollar through continuous MMT, the only way that they can retain control of the money supply and thereby remain in power, is to once again back their new fiat currency with their gold reserves. The US claims some 8000 tons, China, far higher. Gordon Brown sold off most of the UK's.

jog on
duc

 

[Dark1975]

The correction is over ,
please relate to 2017 charts,
This is simply a change from bitcoin domaince to altcoins,
Check the market cap
This happened in 2017
Btc will go sideways , pretty much consolidate and move like the stock market.
money will slowly move out of bitcoin for the shorterm and move to alt coins.
So my trading pattern is still bullish as I have heavily invested in alt coins.
So i see btc swinging slowly in between 65k -73k over the couple of months as alt coins will be the play now and then back to btc for its last stage of parabolic before everything blows up.
So i still think we have 3-4 months of this bull run to play out
Refer to market cap,
Market cap still growing tho btc giving up over 10% , this will continue, currently the flow of money moves out if btc and into alts coins

As you can refer to friday thread (only 3days ago)
the overall market cap for crypto has increased by 200 billion more , Yet btc actually declined dominance by 0.5% which suggests we see alt season starting ,
I have placed in stop loss in all trades ,
I'd personally like to see consolidation now for btc which will see alt coins dominate,
The only fear I have is that btc goes parabolic and turns the volatility up to fast .

 

[Warr87]

my charts are looking good for both BTC and ETH. fingers crossed.

 

[noirua]

Price analysis 5/3: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, UNI, LTC, BCH

Ethereum and a handful of altcoins have charged higher while Bitcoin struggles to find enough momentum to clear the $58,000 level.

cointelegraph.com

Fund managers will find it difficult to ignore the top two cryptocurrencies as their market caps surpass popular Wall Street names. This could continue to attract fresh money into the crypto sector and boost prices higher.

 

[noirua]

Glassnode predicts BTC rally as stablecoin supply tags record highs

Stablecoin supplies are at all-time highs, suggesting Bitcoin may soon see another rally.

cointelegraph.com

With the surging supply, Glassnode highlights that Bitcoin’s Stablecoin Supply Ratio (SSR), which measures the Bitcoin supply divided by the stablecoin supply, is sitting at a year-to-date low of 13.4, and is approaching its all-time-low of 9.6.

 

[noirua]

ZEC BTC ETH live charts:
https://uk.advfn.com/p.php?pid=staticchart&s=coin^zecusd&width=363&height=270&p=4&t=1&vol=0
https://uk.advfn.com/p.php?pid=staticchart&s=coin^zecusd&width=363&height=270&p=0&t=1&vol=0
https://uk.advfn.com/p.php?pid=staticchart&s=coin^btcusd&width=363&height=270&p=4&t=1&vol=0
https://uk.advfn.com/p.php?pid=staticchart&s=coin^btcusd&width=363&height=270&p=0&t=1&vol=0
https://uk.advfn.com/p.php?pid=staticchart&s=coin^ethusd&width=363&height=270&p=4&t=1&vol=0
https://uk.advfn.com/p.php?pid=staticchart&s=coin^ethusd&width=363&height=270&p=0&t=1&vol=0

 

[gartley]

Things starting to look not too flash for the bulls......
Weekly and daily still bearish and the 3hr has just flashed a sell in the short term here. We had what appears to be an impulsive 5 wave move down from the top. This might be an upward 3 wave move that completed. Three waves always unfold against the one larger trend

 

[Dark1975]

So further change in the market,as forecasted bitcoin domaince had declined by 1.50% yet the market cap of crypto only down 30billion!
So hence eth and bnb have have grown while btc has given up dominance to these two large caps.
So going forward we see currently eth and bnb pausing after a massive rally while money pours in to defi .
Currently chain link and litecoin have surged 20% in 24hrs which are the two leaders in defi.
If this continues as in 2017 , next phase is the large altcoins like pokerdot / cardano /xrp etc etc .
I think btc cash has still room to move in the bull cycle, i just purchased btc cash as attached still 3 x away from previous highs .
Attached my account: just to show you buy dips but also learn to take profits as well.
This is not finacial information. Pls DYOR

 

[Dark1975]

So further change in the market,as forecasted bitcoin domaince had declined by 1.50% yet the market cap of crypto only down 30billion!
So hence eth and bnb have have grown while btc has given up dominance to these two large caps.
So going forward we see currently eth and bnb pausing after a massive rally while money pours in to defi .
Currently chain link and litecoin have surged 20% in 24hrs which are the two leaders in defi.
If this continues as in 2017 , next phase is the large altcoins like pokerdot / cardano /xrp etc etc .
I think btc cash has still room to move in the bull cycle, i just purchased btc cash as attached still 3 x away from previous highs .
Attached my account: just to show you buy dips but also learn to take profits as well.
This is not finacial information. Pls DYOR

As predicted, 12hrs later as I posted i purchased bitcoin cash it has gained 50% , and cardano and other alt coins are now are on the move, should see massive moves other the next couple of weeks
This is not finacial advice. Pls DYOR

 

[againsthegrain]

As predicted, 12hrs later as I posted i purchased bitcoin cash it has gained 50% , and cardano and other alt coins are now are on the move, should see massive moves other the next couple of weeks
This is not finacial advice. Pls DYOR

Good analysis once again, thanks for running your ideas by us here please keep it up

 

[noirua]

Bitcoin Cash price jumps 68%: Looming hard fork to boost BCH user base?

Bitcoin Cash is surging ahead of its scheduled hard fork on May 15, with two quality of life improvements set to be implemented.

cointelegraph.com

Bitcoin Cash (BCH) burst back into the market capitalization top 10 rankings on Thursday after a 36% overnight surge compounded 68% growth for the week. The per coin valuation of BCH climbed from $1,068 to $1,462 in under 24 hours leading into May 6, adding to a notable increase from its weekly low in the $800 range.

 

[noirua]

Early Bitcoin bull market buyers are hodling strong, but short term trading increasing

The share of Bitcoin’s supply that was last realized on-chain in the past six months has doubled since Q3 2020.

cointelegraph.com

Data from Glassnode shows that bulls who accumulated during the second half of 2020 are still holding strong, despite a surge in short-term speculation this year.

 

[Gunnerguy]

Just wondering, as I know very little about BTC, is there a ‘vehicle’ that gives you the ability of shorting BTC ?
Gunnerguy

 

[Dark1975]

Just wondering, as I know very little about BTC, is there a ‘vehicle’ that gives you the ability of shorting BTC ?
Gunnerguy

indeed there is , Can use CFD'S or options , Shorts or longs, So many trading platforms like plus 500 etc etc..
Just some advice.. I wouldn't' go against trend ATM or leverage crypto . In short crypto is way more volatile than stocks.
This isn't any financial advice. pls DYOR

 

[noirua]

Price analysis 5/7: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, UNI

Altcoins continue to rally higher and Bitcoin's repeat tests of the $58,000 level signal that bulls are building momentum.

cointelegraph.com

Bitcoin is facing stiff resistance near the downtrend line but a positive sign is that the bulls have not allowed the price to sustain below the 20-day exponential moving average ($56,036). This indicates that traders are buying on every minor dip.

 

[Dark1975]

So further change in the market,as forecasted bitcoin domaince had declined by 1.50% yet the market cap of crypto only down 30billion!
So hence eth and bnb have have grown while btc has given up dominance to these two large caps.
So going forward we see currently eth and bnb pausing after a massive rally while money pours in to defi .
Currently chain link and litecoin have surged 20% in 24hrs which are the two leaders in defi.
If this continues as in 2017 , next phase is the large altcoins like pokerdot / cardano /xrp etc etc .
I think btc cash has still room to move in the bull cycle, i just purchased btc cash as attached still 3 x away from previous highs .
Attached my account: just to show you buy dips but also learn to take profits as well.
This is not finacial information. Pls DYOR

So as you can see bitcoin domaince gives up more market cap as major alt coins continues to surge.
Since I last posted 6 days ago, market cap has grown a further 200billion and major alt coins eth / ada have grown over a minimum 20%
Atm my trading plan hasn't changed , I have placed stop losses ,but I expect to see btc keep trying to push thru 77430 resis target,
Should see btc dominance now change, I'm expecting btc to gain a little back in market cap as I think btc will make some big moves.
I'm extremely bullish atm .
This is not finacial advice. Pls DYOR

 

[Gunnerguy]

indeed there is , Can use CFD'S or options , Shorts or longs, So many trading platforms like plus 500 etc etc..
Just some advice.. I wouldn't' go against trend ATM or leverage crypto . In short crypto is way more volatile than stocks.
This isn't any financial advice. pls DYOR

Options, shorts, longs in the ASX ?

 

[Dark1975]

Options, shorts, longs in the ASX ?

You wont find any option trading and Cfd's on ASX exchange for crypto , Only on American Exchanges atm like plus 500 / IC markets /binnance etc etc

 

[over9k]

If you want to hedge your bets a bit, I keep pointing out RIOT.