Bitcoin

[Bullitt]

Agree there.

Despite the bullish setup in bitcoin over the past month, I can see this IPO causing a breakout that doesn't hold. Insiders have been looking to unload that IPO for years and that could have negative effects.

I've been with Coinbase since 2016, too bad they didn't give members the opportunity to purchase shares at the IPO price.

 

[tsptalk]

too bad they didn't give members the opportunity to purchase shares at the IPO price.

Yeah, good point.

 

[tsptalk]

 

[Bullitt]

Bitcoin getting hit on crackdown talk. At around 55,000 right now.

https://finance.yahoo.com/news/bitc...thereum-litecoin-coinbase-doge-094926937.html

 

[tsptalk]

Another test of the 50-day EMA?

 

[weatherweenie]

Why the drop?

Another test of the 50-day EMA?

 

[tsptalk]

Why the drop?

From bullitt.

Bitcoin getting hit on crackdown talk. At around 55,000 right now.

https://finance.yahoo.com/news/bitc...thereum-litecoin-coinbase-doge-094926937.html

 

[weatherweenie]

Plain ol manipulation: '[h=1]After a bitcoin crackdown, China now calls it an ‘investment alternative’ in a significant shift in tone'[/h]

 

[Bullitt]

There were also rumors that a large holder unloaded shares.

https://dailyhodl.com/2021/04/17/wh...transaction-heres-where-the-funds-are-headed/

One thing about markets is we feel there is always an explanation for moves up or down. Rarely do they make any sense. Most of the time, a move happens first, then a headline is plucked that purportedly explains it. Maybe someone decided the Coinbase IPO marked some psychological top.

Long term, China wants crypto to avoid US sanctions via SWIFT. Take a look at what is happening with semi-conductors. China steals our technology, builds their own with slave labor, then floods the market with it. Recent sanctions on Chinese semi-conductors could be avoided with crypto transactions.

 

[tsptalk]

Guggenheim’s Scott Minerd warns bitcoin could plunge 50% near-term — ‘things are very frothy’

KEY POINTS

Bitcoin is “very frothy” and could see a “major correction” in the near term, Guggenheim Partners’ Scott Minerd told CNBC on Wednesday.

“I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline,” he said.

However, Minerd said he remains bullish over the long run, predicting an eventual rise to $400,000 to $600,000.

https://www.cnbc.com/2021/04/21/bit...-scott-minerd-warns.html?&qsearchterm=bitcoin

 

[tsptalk]

Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000

KEY POINTS

Bitcoin and other digital coins plunged on Friday, wiping over $200 billion of the value of the cryptocurrency market.

President Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4%, including a surtax.

That’s led to a wave of selling in crypto markets, which have had a great year with bitcoin climbing more than sixfold in the last 12 months.

https://www.cnbc.com/2021/04/23/bit...s-260-billion-wiped-off-cryptocurrencies.html

 

[Bullitt]

Bear case:

With a sudden weekend sell-off leaving bitcoin traders and investors reeling, JPMorgan analysts have warned that if the bitcoin price doesn't regain ground above $60,000 soon, bitcoin's momentum signals will collapse.

https://www.forbes.com/sites/billyb...-bitcoin-and-crypto-sell-off/?sh=18714da551af

Bull case:

Current models show BTC could reach a staggering $400,000 this cycle. “The technical outlook for Bitcoin in 2021 remains strongly upward, if past patterns repeat. Common companions for strong annual rallies in the first-born crypto – low volatility and halvings – are aligned favorably.

https://dailyhodl.com/2021/04/09/bi...ise-to-400000-possible-top-bloomberg-analyst/

 

[tsptalk]

After the 50-day EMA gave way for the first time in a while, the 100-day EMA

has been trying to hold...

 

[tsptalk]

Bear flags on bitcoin and GBTC charts.

 

[tsptalk]

I wonder what's really going on here? Maybe Elon just wants to buy the next big correction? He seems to enjoy his ability to manipulate the price of things.


Elon Musk suggests Tesla is dumping bitcoin holdings

https://www.cnbc.com/2021/05/16/elon-musk-suggests-tesla-is-dumping-bitcoin.html

 

[RealMoneyIssues]

Glad I sold half my LiteCoin at 403, will hodl rest. Out with all my initial investment

 

[tsptalk]

I wonder what's really going on here? Maybe Elon just wants to buy the next big correction? He seems to enjoy his ability to manipulate the price of things.

Elon Musk suggests Tesla is dumping bitcoin holdings

https://www.cnbc.com/2021/05/16/elon-musk-suggests-tesla-is-dumping-bitcoin.html

Today: Elon Musk, Tesla has not sold any Bitcoin.

https://www.msn.com/en-us/autos/new...es-tweets-tesla-holdings-in-focus/ar-BB1gOVOc

 

[tsptalk]

 

[Bullitt]

The Schiff, doubling down on his bearish bitcoin stance. I can't disagree with him on this one.

If a single @elonmusk tweet can have so much influence over the price of #Bitcoin how can anyone seriously consider it to be money? How can Bitcoin be a safe-haven asset if a one-word tweet puts it at risk? It should be clear by now that buying Bitcoin is gambling, not investing. Bitcoin’s price changes can be influenced by “a one-word tweet”.

https://www.investing.com/news/cryp...ing-bitcoin-is-gambling-not-investing-2507855

 

[tsptalk]

Bitcoin tanks 20% in 24 hours to fall below $35,000, hits lowest level since January


https://www.cnbc.com/2021/05/19/bitcoin-btc-price-plunges-but-bottom-could-be-near-.html