Bitcoin price discussion and analysis

[BlindSquirrel]

The previous highs for each bull run have been a blow off top. This one is much too flat around 60-65k. I believe we're going to 6 figures in USD by end of 2021.

 

[over9k]

Assertions are worthless without reasoning squirrel. Tell us why.

 

[Dark1975]

I posted elon's market manipulation up above. C'mon, I'll bet you a fiver that tesla starts reaccepting bitcoin as payment sometime soon

You think his reddit followers are still listening to him after they got crushed by his tweets? Or do you think he commands still that much favour with the people ! I think not , I have a reddit account and ppl are trying to campaign boycott telsa for e.g plus i see the wall street beats are trying to short telsa now in kind ..

 

[BlindSquirrel]

I love how the fact that a tweet can push the price around allegedly "has wall street spooked" and shows how volatile BTC is so it isn't yet "Mature" (this is all according to news media at the moment).
Whereas Donald Trump tweets moving the S&P for the last 4 years was perfectly acceptable.

 

[over9k]

You think his reddit followers are still listening to him after they got crushed by his tweets? Or do you think he commands still that much favour with the people ! I think not , I have a reddit account and ppl are trying to campaign boycott telsa for e.g plus i see the wall street beats are trying to short telsa now in kind ..

Tesla ran hard yesterday.

A few degenerates on WSB can't do a damn thing.

 

[Dark1975]

Tesla ran hard yesterday.

A few degenerates on WSB can't do a damn thing.

Yes tesla ran well with the Nasdaq yesterday , Though since Feb highs a downtrend , And I'd say there not the only ones shorting tesla?

 

[noirua]

Argo Blockchain (LSE: ARB), a global leader in cryptocurrency mining, is pleased to announce that on Sunday 23 May 2021, leading North American miners came together to discuss ESG issues related to Bitcoin mining with Elon Musk. The meeting was organised by Michael Saylor who chaired a productive 90-minute call resulting in the group agreeing to form a Bitcoin Mining Council to collectively promote energy transparency and improve sustainable mining practices. Alongside Argo Blockchain, companies in attendance included: MicroStrategy, Galaxy Digital, Hut 8, Marathon, HIVE, Core Scientific, Blockcap and Riot Blockchain.

Peter Wall, Chief Executive of Argo Blockchain, said: "Today is a good day for the planet. Sustainability has always been at the heart of Argo's mining operations and the newly-formed Bitcoin Mining Council is the next logical step in fostering a sectoral shift towards renewable energy. I enjoyed speaking with Elon Musk about these issues this weekend, and look forward to joining Michael Saylor and other leading North American miners in working to future-proof an industry that must collectively improve sustainable mining practices and take ESG concerns seriously."

Bitcoin Mining Council emerges following meeting with Michael Saylor and Elon Musk

The Bitcoin mining industry is stepping up efforts to mine the digital asset in a more sustainable way.

cointelegraph.com

 

[moXJO]

NFTs getting a pump in the news. Seems like it may build the excitement again.

https://www.news.com.au/finance/mon...0/news-story/523babda1e718857cb21d8e5963ca831

 

[moXJO]

Could be just some scrub. But a good breakdown.

https://threadreaderapp.com/thread/1397106939193085952.html

Or from Twitter: (multipost thread)

 

[over9k]

Resistance well & truly busted today. Tech everywhere's mooning actually.



The easy money's been made now, now I have to time a rebuy. Might throw an order in at the previous resistance level as this thing seems to like to move in steps.

 

[over9k]

4% selloff immediately aftermarket. Tomorrow might be a winner for a rebuy.

 

[noirua]

WARNING: Thinking of investing in Bitcoin or other Cryptocurrencies?​

Here's what you should know:

If you've been contacted by a 'trader' promising big profits and offering to help you invest in cryptocurrency, this is a scam. See Cryptocurrency investment fraud - Action Fraud.
*The above is a UK based website though information is of a general worldwide nature.

- Always have control of your cryptocurrency wallet. If you didn't set the wallet up yourself or can't access the money in the wallet, this is a scam. You should stop making payments immediately.
- Many cryptocurrency sellers are not registered with the UK Financial Conduct Authority. Always use a firm that is on the Registered FCA list which can be found on the FCA website. You should also check the Temporarily Registered list which can be found on the same page.
- If you ignore the above advice you could lose all of your money.
*FCA is a UK government website.

*23 March 2016:
As a result of the agreement signed today, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) will refer to one another those innovative businesses seeking to enter the other's market. The regulators will provide support to innovative businesses before, during and after authorisation to help reduce regulatory uncertainty and time to market.

British and Australian financial regulators sign agreement to support innovative businesses

Under a world-first agreement, innovative fintech companies in Australia and the United Kingdom will have more support from financial regulators as they attempt to enter the others’ market.

www.fca.org.uk

https://www.fca.org.uk/publication/mou/fca-asic-cooperation-agreement.pdf

 

[gartley]

25K is looming, by which time most bulls will have thrown in the towel for this leg down....

 

[BlindSquirrel]

25k seems like a bit of a stretch. We've got 3x bull divs on the daily timeframe and a falling wedge


Having said that, I'm not leveraged long yet.

 

[gartley]

25k seems like a bit of a stretch. We've got 3x bull divs on the daily timeframe and a falling wedge
View attachment 125268
Time will tell..... But take RSI probably not the best tool imo. Could be a falling wedge, might also be a contracting triangle which means we get a sharp thrust down to end this leg down.

 

[Garpal Gumnut]

Just watching the price of BTC in $USD today it seems to be Technical Analysis taken to extremes. As soon as a head n shoulders, trend line or MA for example is reached, bump it goes up or down.

Its a 50/50 coin toss though on direction.

Better than the Casino I suppose.

gg

 

[sptrawler]

The ATO are monitoring bitcoin transactions? To scare or not to scare, that is the question.

Stiff ATO penalties for failure to declare crypto profits

Data matching comes to the fore as ATO targets taxpayers who fail to report cryptocurrency trading profits.

www.smh.com.au

From the article:
The ATO is collecting data from crypto exchanges and comparing it to amounts entered on tax returns to determine any tax liability.

Failure to declare crypto capital gains, where the ATO determines the taxpayer intentionally disregards the law, can attract a penalty of 75 per cent of the outstanding tax liability, plus the tax itself and interest on the shortfall.
With cryptocurrency prices rocketing and sharemarkets experiencing a major bounce in the past financial year, Adrian Raftery, founder of Mr Taxman, says many taxpayers will have big capital gains to declare in their returns this year.
Bitcoin, the leading cryptocurrency, was worth about $14,000 at the start of the 2020-21 financial year and is now changing hands for about $49,000.

The benchmark S&P/ASX 200 is up more than 20 per cent over the 2020-21 year.

A capital gain or loss can be realised if an investor converts a cryptocurrency’s worth into Australian dollars or exchanges one virtual currency for another, Raftery says.

 

[qldfrog]

The ATO are monitoring bitcoin transactions? To scare or not to scare, that is the question.

Stiff ATO penalties for failure to declare crypto profits

Data matching comes to the fore as ATO targets taxpayers who fail to report cryptocurrency trading profits.

www.smh.com.au

From the article:
The ATO is collecting data from crypto exchanges and comparing it to amounts entered on tax returns to determine any tax liability.

Failure to declare crypto capital gains, where the ATO determines the taxpayer intentionally disregards the law, can attract a penalty of 75 per cent of the outstanding tax liability, plus the tax itself and interest on the shortfall.
With cryptocurrency prices rocketing and sharemarkets experiencing a major bounce in the past financial year, Adrian Raftery, founder of Mr Taxman, says many taxpayers will have big capital gains to declare in their returns this year.
Bitcoin, the leading cryptocurrency, was worth about $14,000 at the start of the 2020-21 financial year and is now changing hands for about $49,000.

The benchmark S&P/ASX 200 is up more than 20 per cent over the 2020-21 year.

A capital gain or loss can be realised if an investor converts a cryptocurrency’s worth into Australian dollars or exchanges one virtual currency for another, Raftery says.

getting a bit old and bored by these ATO PR.
every year here they go:
do not claim expenses you are not due to etc..after 20y of that crap:
just do your tax return properly, and yes if you have CG from crypto or others just declare it;I do
I am just worried by the incompetence of these guys
I once had an issue where they claimed I owed them $20 or so on shares CG; I redid all computations and I had actually paid around $50 too much;
, spent numerous hours, email, calls visit:
an absolute wall of incompetence and i ultimately paid $20 just to close the matter with the ATO sending me a stern missive of
DO NOT DO IT AGAIN, WE HAVE BEEN NICE NOT TO GIVE PENALTIES...That at a time where I was paying 100's k in taxes
a bunch of bullies and losers who can make laws as they see fit and will NEVER admit being wrong.
No lesson from these guys and I actually pity the poor bastards who are found guilty while innocent;
all this in a country where you learn that millions have not filled a tax return in years
Probably not the same people....

 

[sptrawler]

getting a bit old and bored by these ATO PR.
every year here they go:
do not claim expenses you are not due to etc..after 20y of that crap:
just do your tax return properly, and yes if you have CG from crypto or others just declare it;I do
I am just worried by the incompetence of these guys
I once had an issue where they claimed I owed them $20 or so on shares CG; I redid all computations and I had actually paid around $50 too much;
, spent numerous hours, email, calls visit:
an absolute wall of incompetence and i ultimately paid $20 just to close the matter with the ATO sending me a stern missive of
DO NOT DO IT AGAIN, WE HAVE BEEN NICE NOT TO GIVE PENALTIES...That at a time where I was paying 100's k in taxes
a bunch of bullies and losers who can make laws as they see fit and will NEVER admit being wrong.
No lesson from these guys and I actually pity the poor bastards who are found guilty while innocent;
all this in a country where you learn that millions have not filled a tax return in years
Probably not the same people....

I had similar, was away O/S came home to a debt collectors letter, which when I checked out the offence it was their error I had done nothing wrong.
But I had to notify the debt collector, that I was prepared to pay the fine, so that the ATO could open an investigation and close it. ?
Apparently once it has been sent to collections, $hits are trumps, weird mob the ATO.
A law unto themselves, make the rules, so they don't lose face.

 

[qldfrog]

I had similar, was away O/S came home to a debt collectors letter, which when I checked out the offence it was their error I had done nothing wrong.
But I had to notify the debt collector, that I was prepared to pay the fine, so that the ATO could open an investigation and close it. ?
Apparently once it has been sent to collections, $hits are trumps, weird mob the ATO.
A law unto themselves, make the rules, so they don't lose face.

they either lose bonus etc but indeed, they can not admit being wrong, probably because if they ever did you could sue them for your time wasted etc so whatever mistake they do, they have to make sure you end up owing them something...
probably one of these situations where it is better to bend over and take it than fighting for law, rules, justice and fair. This is so last century.But having them toying with cryptos is scary...