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Bitcoin goes to $32,900 on its target forecast for $36,000 by some.
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Bitcoin price discussion and analysis
- Thread starter greggles
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How massive Bitcoin buyer activity on Coinbase propelled BTC price past $32K
The price of Bitcoin surged past $31,400 after buyers on Coinbase aggressively accumulated BTC.
cointelegraph.com
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An almost vertical price rise, inexperienced traders jumping on the bandwagon (various assets not just Bitcoin) and now funds are getting interested.
Brings back memories of early 2000 with the .com boom and bust, this seems all too familiar with what took place then and that sure didn't end well.
I'm invested in stocks but keeping an active watch on what's going on. Bitcoin I'm staying out of though.
Posted earlier, but again for you Smurf1976 - timestamped it for you. The next 10 minutes explains a lot. Yields are almost 0%, add in inflation which is around 6% pa, holding cash is useless. Unless your making 15% pa, your losing money.
Anyways, here an old clip some guy mining Bitcoin back in 2014
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Well that didnt take long to rocket past $40k..
I think we need a pullback soon.
I think we need a pullback soon.
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See you in a few months at 100k Matty
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If used right by the smart money bitcoin could be the greatest tool of wealth transfer from the poor to the elites, time will tell how it will play out
BTC might also be gaining popularity as well now, so we don't know ...
it's possible to get in gradually rather than in one go
its trending nicely. i'm glad my system got me back in.
It could literally be weeks or days to hit that target. Just depends on whales moving in. Its bloody hard to pick targets in a mania.
I actually sold out my eth yesterday. Hope it doesn't go for the moon.
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A mania is what I'm seeing this as being.
Time will tell if I'm wrong or right in that assessment. Fortunes will be made but also lost by the time it's done.
I've had a few false BO's with ETH last week.Got stopped out a few times (I like using the 30min chart for ETH). It's crazy when you think about it was just $400 not long ago and now its in the $700's. Not as spectacular as BTC but I am a fan of ETH as well.
As a currency I feel eth has better transactions. Btc seems to be a store of wealth. In saying that I was reading that there is only 3.6 million or something bitcoins actively being bought and sold constantly. So as it tightens I suppose that volatility starts going to extremes.
A lot of shorts were just caught out as well. I think it was 78000 short positions at about $800 million.
Its at the point where there are very few short positions on it. However people are not betting on it moving much higher. Which just makes me think no one knows where this is going right now.
I have a few friends who just bought and held. And that's proven to be the trade of the century. I think its at 200% pa since inception.
I actually wanted to get rid of the rest of the xrp and move into bitcoin.
Here's another site to add for all you bitcoin fanatics https://www.bybt.com/LiquidationData
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The new crypto-list looks very much like the new dot-com list around 1998. Still, most of the new dot-coms made money early on, a lot of money, but crashed out-of-sight when the boom came to an end. Some made $40k every week and many ended up losing everything and some their sanity and a few their lives with it. Reports in the states of many telling their brokers, "Get me out at any price".
New Cryptocurrencies | ADVFN
Latest coins and tokens added to ADVFN that are tradable at exchanges.
uk.advfn.com
To tell you the truth the entire trading landscape has changed. I feel we are seeing the beginings of the greatest transition and transformation of how people think about:A mania is what I'm seeing this as being.
Time will tell if I'm wrong or right in that assessment. Fortunes will be made but also lost by the time it's done.
Work
Economy
Finances
Corporate/business structures
Along with a whole host of other stuff. It feels like a big generation change a coming.
Its weird that the greatest investor I personally know basically lived with his mum at 35, played computer games and spanked it to pr0n. Did zero work beyond complete faith that BTC was the greatest investment ever. And he kept telling me to hold. We are not just talking rich. But unbelievably rich.
People whinge about no opportunities or that boomers had it better. But no time in history has it been this full of opportunities to turn a buck. Tech has geared it so the average punter can make a fortune.
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A mania is what I'm seeing this as being.
Time will tell if I'm wrong or right in that assessment. Fortunes will be made but also lost by the time it's done.
Have posted earlier - but for you Smurf1976.
All of Bob's TA podcasts have been on track - all of them. I think one of his first podcasts really opened my eyes (from a TA perspective).
Bitcoin's 4 Year Cycle - Opportunity (Original Author)
Your Training is Complete
Around the 14 minute mark Bob talks about a 30% decline. He is realistic and a very good trader. Please watch
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Thanks @DB008 for introducing this. To save everyone searching, it's at https://4yearjourney.com
On what TA basis does he give credence to a potential 30% decline?
Of course it did.
The new crypto-list looks very much like the new dot-com list around 1998. Still, most of the new dot-coms made money early on, a lot of money, but crashed out-of-sight when the boom came to an end. Some made $40k every week and many ended up losing everything and some their sanity and a few their lives with it. Reports in the states of many telling their brokers, "Get me out at any price".
New Cryptocurrencies | ADVFN
Latest coins and tokens added to ADVFN that are tradable at exchanges.uk.advfn.com
it certainly does feel a bit like the dot-com bubble. the issue, and particuarly with bubbles, is that everyone piles in with very little understanding or reason why. The real issue is the flip side: they have no rule or mechanic for when to sell. just like the dot-com bubble, people pilled in and never thought about what if it went down? I await the people crying over putting there money into what could be the height of BTC without an understanding of the risk and are then shocked that it doesn't perpetually continuing going up so they lose there money in a panic selling of the mob.
Does that mean I think BTC is worthless? Nope. I still like it and will continue to trade it but I'm also aware of the risks. (I also wont refuse to take responsibility for a poor trade and lack of understanding concerning risks of any trade and/or investment made.)
I was shocked to log into my broker and see my EA had taken an ETH trade. The shocking part was the ETH price ..... if only my broker traded 7 days I could've caught it during the weekend not on the monday open where the gapup on the chart is something else, lol.
