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Bitcoin price discussion and analysis

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It appears that BTC is not responding well to the threats of war in The Ukraine.

It will be interesting to see if it will rebound as most markets do some weeks after Russia invade.

Presently it is plummeting.



gg
 
Bitcoin can almost be thought of as a leveraged bet on tech at the moment, given its increasingly strong positive correlation with the NASDAQ. Therefore, last night’s sell-off is unsurprising, as the escalating situation in Ukraine sparked risk-off trading. If tensions in Eastern Europe do boil over, we could see continued rotation into “safe-haven” assets. This would likely cause BTC to break below the key psychological level at $40k, exposing it to a potential retest of the January lows.

However, if the situation ends up subsiding, BTC could bounce and resume its uptrend as risk-appetite returns to the market.

All trading carries risk, but it will be very interesting to see how this situation develops heading into the weekend.
 
So is bitcoin etc a risk on, or a risk off asset?

Because it sure as hell behaves like a risk on asset in my book.

In other unrelated news, I've just traded in my work truck for a rickshaw and two Clydesdales
 
wayneL said:
So is bitcoin etc a risk on, or a risk off asset?

Because it sure as hell behaves like a risk on asset in my book.

In other unrelated news, I've just traded in my work truck for a rickshaw and two Clydesdales
Click to expand...
So, I have some environmentally friendly hay that the Clydesdales may be interested in.
Completely Organic, all bales are gender non binary whose preferred pronoun is they, no slave labour was used in their production, and bale string is rainbow coloured.
Only 0.1 bitcoins each.
Plus transport.
Mick
 
Give it a month or two and that might even be a good deal, and the girls could make pretty lead ropes out of the bale string
 
wayneL said:
So is bitcoin etc a risk on, or a risk off asset?
Click to expand...
Since Bitcoin has no intrinsic value it only becomes risk off when trading at $0 per satoshi and finally recognized as the unregulated financial con job it was from the beginning. Otherwise it continues to rank among the highest risk "assets" just behind the other 10,000+ sh$t coins requiring ever more fiat currency to flow into the crypto casino to enrich promoters, whales and pump and dump merchants at the expense of hodlers.

Exploiting a financial mania...

 
I will be selling the first HNFT at a competitive auction online from next Monday.

The first Hay Non-Fungible Token will be available from our sister hotel in Byron Bay from Monday 28th February.

BYO Dope.

Eliminate transport costs for your fodder.

gg
 
I think Byron Boy already has plenty of dopes of their own.
From what I have read, some of them inhabit the local council.
Mick
 
Nonetheless and despite all the foregoing etc. etc. there is no doubt that BTC has made a recovery on reasonably high volume from its recent 5 day nadir of 35000 to now trade about 39000.

Which is over 10% gain.

Good if you can pick it.

I am also told that Russia despite Mickey Mouse sanctions from Ole Joe Biden will skate about these by its oligarchs aka bagmen using crypto.

Which can only be good for BTC.

gg
 
BTC currently trading at 38300, and its bounce pretty much in line with the tech space overnight performance of +7%. So yes, risk assets bounced but the question is why. Just an oversold reaction by traders or was the market view that interest rates are going nowhere while war tensions remain in focus or both?
 

Russian crypto volume across major exchanges plunges by 50%

Russian crypto trading volume has plummeted despite increasing sanctions from the international community, proving that crypto may not be the best tool for avoiding sanctions.
cointelegraph.com
“Russia cannot use crypto to replace the hundreds of billions of dollars that could be potentially blocked or frozen.”
Click to expand...
Related: European Commission to remove Russian banks from SWIFT cross-border network
In the face of looming regulatory action from the international community, many of the world’s leading crypto exchanges have decided to blacklist sanctioned individuals and organizations. Binance, however, has refused requests to censor the accounts of “innocent” Russian customers.
 
?BREAKING: Swiss city of Lugano will accept #Bitcoin as payment for taxes.
 
noirua said:
?BREAKING: Swiss city of Lugano will accept #Bitcoin as payment for taxes.
Click to expand...
While I have never spent any time in Lugano Prison, one of Lugano's main claims to fame, this sweet Swiss more than a hamlet, is not without it's made men and colourful characters.

Perhaps the Lugano Council has little other way of collecting taxes.

Crime boss opens up about mob in Switzerland

Felice Ferrazzo, 55, said he ran the clan that bears his name for ten years before becoming a police informant in 2000. He spoke to Swiss filmmakers Gianni Gaggini and Marco Tagliabue at a secret location in Italy. Ferrazzo, who is currently under witness protection along with his family, said...
www.swissinfo.ch

gg
 
Haven't traded crypto for a bit and just checked the boards. Looks like another fear/bear cycle, as everyone talks about how to cope going back to a real job.

The memes are out in force as well.
 
moXJO said:
Looks like another fear/bear cycle, as everyone talks about how to cope going back to a real job.
Click to expand...
Since the price of Bitcoin is basically unchanged since the same time last year, the hodlers thinking $100k Bitcoin was just over the horizon will now indeed need to reassess whether to return to their low paying service sector jobs. Depends on how much tax free government assistance they continue to receive to remain unemployed. Is Bitcoin in a bear cycle? Many chartists would argue this has been the case since November last year. But then a work colleague recently reiterated the maximalist mantra, buy, hold, never sell and you will be a millionaire eventually, LOL.

 
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