Bitcoin Cracks $5000

[69360]

For everything people say BTC is one thing I can say is that it is not stable.

They tried that with the stablecoins that were pegged to the USD. Many of them are unpegging and losing value.

Personally I think BTC is too volitile to use as originally intended for purchases.

My only interest is speculative, I might buy at the bottom and sell if it regains the previous levels.

 

[GlennwaldSnowdenAssanged]

They tried that with the stablecoins that were pegged to the USD. Many of them are unpegging and losing value.

Personally I think BTC is too volitile to use as originally intended for purchases.

My only interest is speculative, I might buy at the bottom and sell if it regains the previous levels.

That sounds great! The only trick is knowing where the "bottom" is.

 

[GlennwaldSnowdenAssanged]

Is BTC going to $5,000?

 

[merkelstan]

I'd say the organic BTC community has support at 20k. To their mid-term memories <20 smells like a 'bargain'.

Institutional investors, the Central Bank Regime, and the Deep State have other plans though.

As Bob Higgs says -- "Regime Uncertainty"

 

[Krugminator2]

Lot of bad news like crypto hedge funds blowing up, people not getting paid on different crypto sites, everyone saying crypto worthless, etc. but Bitcoin still holding right at it's previous all time high. Seems pretty bullish.

 

[GlennwaldSnowdenAssanged]

Lot of bad news like crypto hedge funds blowing up, people not getting paid on different crypto sites, everyone saying crypto worthless, etc. but Bitcoin still holding right at it's previous all time high. Seems pretty bullish.

You lost me here. "holding at its previous all time high." Wasn't it nearly 70k at one point?

 

[Krugminator2]

You lost me here. "holding at its previous all time high." Wasn't it nearly 70k at one point?

2017 high.

https://finviz.com/crypto_charts.ashx?t=BTCUSD&tf=mo

 

[GlennwaldSnowdenAssanged]

2017 high.

https://finviz.com/crypto_charts.ashx?t=BTCUSD&tf=mo

If it happens to drop down to $5,000 will it be holding at its previous high also?

 

[Krugminator2]

If it happens to drop down to $5,000 will it be holding at its previous high also?

Dec 2017 high is 19666, so no. See chart.

 

[Krugminator2]

Pretty crucial pt for crypto. Will be interesting to see if it puts in a higher low. Wouldn't be surprised if Wednesday CPI is an inflection pt up or down for crypto.

 

[Krugminator2]

Pretty crucial pt for crypto. Will be interesting to see if it puts in a higher low. Wouldn't be surprised if Wednesday CPI is an inflection pt up or down for crypto.

Took a stab a Bitcoin with gbtc at 12.40. risk to 11.9. will see if it can hold and start a grind up

 

[The Northbreather]

Took a stab a Bitcoin with gbtc at 12.40. risk to 11.9. will see if it can hold and start a grind up

What’s your target?

Also why not buy BTC itself?

 

[dannno]

What’s your target?

Also why not buy BTC itself?

You can't buy BTC in the stock market.

Robinhood offers it, but I doubt he trades on there.

 

[The Northbreather]

You can't buy BTC in stock market.

Robinhood offers it, but I doubt he trades on there.

I know that lol.

What is his target for the gbtc trade as he only listed his out.

Also why not just buy BTC instead of fund/trust…..

 

[Krugminator2]

I know that lol.

What is his target for the gbtc trade as he only listed his out.

Also why not just buy BTC instead of fund/trust…..

If it gets to the top of the range I will take 2/3rds off and then see how it acts. So 14ish.

I used GBTC because I just liked the looks of it better on the chart. Very unscientific. It is also trading at a big discount to the the bitcoin it holds. I would never trade the actual Bitcoin. The few times I have traded something other than GBTC I have used the futures.


Edit July 23rd. I sold a third around the close of 7/15 and most of the rest on the open the next day with a nub end sold into the 15s. Still in a major downtrend. Would like to see it hold higher lows and firm up.

 

[Krugminator2]

MAJOR change in character in Bitcoin overnight. It is at $21k. Big hold of 20k. Seems like the kind of thing that can have some follow through.

 

[devil21]

Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?

 

[GlennwaldSnowdenAssanged]

Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?

When is a good time to buy in?

 

[ClaytonB]

Any one here going to admit to holding some heavy, heavy bags now that the ponzi is starting to collapse?

What collapse? Been tracing a ruler-straight line at $17k for six months, unbroken. Feels pegged (downward).

BTW, gold also feels pegged at $1,700ish. Not quite as long as BTC, but the price definitely does not seem organic to me.

 

[devil21]

What collapse? Been tracing a ruler-straight line at $17k for six months, unbroken. Feels pegged (downward).

OK, carry on then. One of the biggest global (if not the biggest, depending who you ask) AUM crypto firm has been exposed as an insolvent ponzi and has filed bankruptcy, with Congress now clamoring to pull Bankman-Fried into hearings about regulation....but nope, no collapse underway at all. Move along, nothing to see.

BTW, gold also feels pegged at $1,700ish. Not quite as long as BTC, but the price definitely does not seem organic to me.

Gee, you think it could be all controlled and manipulated?