I'm using FXCM that offers CFDs on crypto's.
Bitcoin price discussion and analysis
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Gunnerguy
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Thanks Dark1975
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BTC could trade for $250K within five years: Morgan Creek Capital CEO
Speaking to CNBC, Morgan Creek Capital Management’s Mark Yusko predicted Bitcoin will tag $250,000 in the next five years.
cointelegraph.com
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I'm using leveraged futures on FTX, their charting is lifted straight from tradingview so it's nice and familiar.
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Latest:
Citing data from blockchain data service Glassnode, CoinDesk reports that the number of so-called bitcoin whales (i.e., single computer networks that hodl 1,000 or more bitcoins within a cluster of wallet I.P. addresses) fell to 1,943 yesterday. That’s down from more than 2,000 just five days ago and a peak of 2,237 whale networks on Feb. 7.
Dwindling ownership from large accounts may be cause for concern for bitcoin bulls, if last years’ experience is any indication. Thus, while bitcoin remained tethered near $10,000 for much of the summer and fall, the number of whales gradually increased from fewer than 1,800 in June to more than 1,900 in November, then accelerated as prices jumped to $20,000 and far beyond.
With bitcoin currently at $56,000, within shouting distance of its $66,000 record, a symmetrical dynamic could be taking shape. "The data look bearish,” comments Pankaj Balani, co-founder and CEO of the Singapore-based digital trading venue Delta Exchange. Balani, who expects the flagship crypto to decline below $50,000, views yesterday’s selloff to as low as $53,500 (which has since largely reversed) as bolstering his near-term outlook. "Monday's move was quite confirmatory of the impending drop," he tells CoinDesk.
jog on
duc
Citing data from blockchain data service Glassnode, CoinDesk reports that the number of so-called bitcoin whales (i.e., single computer networks that hodl 1,000 or more bitcoins within a cluster of wallet I.P. addresses) fell to 1,943 yesterday. That’s down from more than 2,000 just five days ago and a peak of 2,237 whale networks on Feb. 7.
Dwindling ownership from large accounts may be cause for concern for bitcoin bulls, if last years’ experience is any indication. Thus, while bitcoin remained tethered near $10,000 for much of the summer and fall, the number of whales gradually increased from fewer than 1,800 in June to more than 1,900 in November, then accelerated as prices jumped to $20,000 and far beyond.
With bitcoin currently at $56,000, within shouting distance of its $66,000 record, a symmetrical dynamic could be taking shape. "The data look bearish,” comments Pankaj Balani, co-founder and CEO of the Singapore-based digital trading venue Delta Exchange. Balani, who expects the flagship crypto to decline below $50,000, views yesterday’s selloff to as low as $53,500 (which has since largely reversed) as bolstering his near-term outlook. "Monday's move was quite confirmatory of the impending drop," he tells CoinDesk.
jog on
duc
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Looking currently on the 4hr time frame with btc the last leg forming has formed a shooting star on the 4hr.
I really wasn't expecting a pullback, tho i guess you must accept when you make wrong decisions and move on.
i think this pull back could test the 68414 resist.
So short term changed my trading strategy and sold 65% of holding and remain in alot of cash to rebuy the lows in the next 24hr time frame as i still think we are still in a general bull run on the weekly charts.
And the bitcoin dominance is currently 42.28% and that the market cap is larger than 5 days ago at 2.45 trillion which confirms alt season where money is running from btc into eth /bnb / ada etc etc.
Tho one problem is that when the market pulls too quickly from btc everything still follows,
So hence this correction,
Big call for me at the moment, cause it could likely wake up in the morning and see btc @ 75k.
I really wasn't expecting a pullback, tho i guess you must accept when you make wrong decisions and move on.
i think this pull back could test the 68414 resist.
So short term changed my trading strategy and sold 65% of holding and remain in alot of cash to rebuy the lows in the next 24hr time frame as i still think we are still in a general bull run on the weekly charts.
And the bitcoin dominance is currently 42.28% and that the market cap is larger than 5 days ago at 2.45 trillion which confirms alt season where money is running from btc into eth /bnb / ada etc etc.
Tho one problem is that when the market pulls too quickly from btc everything still follows,
So hence this correction,
Big call for me at the moment, cause it could likely wake up in the morning and see btc @ 75k.
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Forget the charts for a while....
Apparently, about an hour ago, Elon Musk tweeted that Tesla now won't be accepting Bitcoin after all.
I believe it is/was due to the non green nature of mining Bitcoin?
Further impacts on Bitcoin are expected in my view.
DYOR, but I believe that the same amount of electricity required to power Argentina for a year is also used by Bitcoin mining in one year.
I would expect this aspect of it to seriously impede the future of it, legislation is a huge risk ATM
IMHO.
Eth is the future (and only just). Bitcoin is a bit of a dinosaur. Everything is on the eth network. Bitcoin is pass the bag to the bigger fool. It's hard to see the utility for it. I could be well wrong. But I'd be shifting my money as well.
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"Forget about the charts for a while" ?
Actually i called this correction @ 2am in the morning before it started tanking , In which my charting saved me and i positioned in cash !
Though waiting for the news from ellon musk this morning is why retail investors lose!
Anyone needed that news to know that bitcoin used that much energy shouldn't be investing in crypto ?
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Rare but cheap to do is valueless, i believe BTC should be seen as having an intrinsic value: its energy cost.
Not a bad thing in my opinion but not good for the current narrative.
Has anyone calculated the energy cost of 1g of gold.must be scary as hell
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i won't invest in btc for so many reasons.
I will give you some quick points :
Btc uses 1% of the world's energy for mining ! - Can use any other crypto with zero footprint e.g : ripple (xrp) or any other crypto that doesn't require mining.
Btc ledger will be one day controlled china once they achieve more than 50% pool. I personally wont invest in a product owned by china in this current environment.
The World banks / IMF / Fed and jp morgan /rothschilds etc etc will not ever lose control of the status quo..
If they want to go digital, they will with something they control.
I still believe in digital platforms and the crypto market is the future with blockchain technology.
Tho I'm investing in xrp for e.g as its a technology that will be used as a platform for world banks , Not to replace currency,
In short , not a threat to the status quo though a technology enhancement.
Plus looking at the current change I'd rather invest in eth as its likely to replace btc in the future if i was hedging my bets
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eth has an actual technical usage, before being a storage of value so that's a plus.for all the arguments against BTC, only summarise these as : a thread to fed banks so they will manage to destroy it, either in narrative: pedophiles and drug payments, not green, I do not know anti LGBT, anti black, bla bla
if that does not work, they will outlaw it
but need to surf the wave before and a lot can happen to discredit fed banks and currencies..and good luck with any ripple, dodgecoin etc...
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Backlash to Elon Musk’s Bitcoin bombshell as traders start to buy the dip
Some traders are buying the dip amid the fallout from Tesla’s suspension of Bitcoin payments, while others are levying accusations of an elaborate pump n dump.
cointelegraph.com
There's also the fact that eth can multibag a few times from here with relative ease where as bitcoin feels a long way from doubling. I also think the above does create a way for govt to legitimise legislation.
over9k
So I didn't tell my wife, but I...
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Really gotta wonder if it's market manipulation though. Have they sold all of theirs off, torpedoing it with the tweet, and we'll soon see a "Due to developments in bitcoin mining technology making it far greener than it previously was blah blah blah we're now going to start accepting it again" policy & accompanying tweet?
Classic pump, dump, repump?
There's no way he's not aware of how much he can/does manipulate markets simply through his actions.
over9k
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Also:
This is actually why I'm quite bullish on RIOT long term. Both electricity costs and mining (chip) efficiency are only improving constantly, giving RIOT some solid tailwinds from both perspectives and an multiplier effect by the combination.
There's obviously going to be some stormy seas, but long term, it's a hold for me.
I just wish I'd gotten in way back when it was $2.50 or so
This is actually why I'm quite bullish on RIOT long term. Both electricity costs and mining (chip) efficiency are only improving constantly, giving RIOT some solid tailwinds from both perspectives and an multiplier effect by the combination.
There's obviously going to be some stormy seas, but long term, it's a hold for me.
I just wish I'd gotten in way back when it was $2.50 or so
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Best Stocks To Buy Now? 4 Blockchain Stocks To Know
Are These Top Blockchain Stocks Worth Investing In This Week?Amidst all that is happening in the stock market today, investors may want to consider looking at blockchain stocks. Chances are, seasoned and new investors alike would be somewhat familiar with this group of stocks. Th
www.nasdaq.com
over9k
So I didn't tell my wife, but I...
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So it was actually up in early trading, musk then made another comment, calling the energy use "insane". It's then plummeted and he's gone quiet.
I'm finding it pretty hard to believe this isn't deliberate manipulation now.
I'm finding it pretty hard to believe this isn't deliberate manipulation now.
over9k
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You might have been able to point to about $40 as being a bit of a support level before:
But that's long gone.
It was actually in the green for a moment (if you could believe it) until Elon's 2nd comment about the energy use being "insane". He's even hit the news etc as all the rageposts on wallstreetbets and the crypto forums and so on are doing the rounds.
Will be interesting to see if the SEC ends up getting involved because I don't think the manipulation can be denied any more.
Edit:
Seems the market's well & truly cracked the shits & sold off tesla in response too:
Elon's upset a lot of people/made a lot of enemies this week methinks.
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