Bitcoin

[JTH]

Re: Crypto News

Bitcoin jumps above $60,000 for the first time since November 2021


Bitcoin jumps above $60,000 for the first time since November 2021

Across 63-sessions that's about a -16% from Standard deviation 3 back down to the centerline. But for myself, I've found technical analysis really doesn't work the same in the crypto world. Too many shady exchanges with questionable volume and large bag holders dumping quietly out the back door.
But I will say the speculation is good as a broad indicator that money is pouring into the markets. :banana:

 

[Bullitt]

Re: Crypto News

How many of those new ETF buyers will be willing to hold once the first sign of trouble comes?

 

[Bullitt]

Re: Crypto News

ETF'ers got their first bit of turbulence today. Down over 6%, but at one point it was down 13% from the prior day close. Dealing with the ETF is much simpler than the actual "coin", especially when it comes to cost basis, taxes, fees, and execution. It's just as easy to hit the sell button the ETF as it is to hit buy.

 

[JTH]

Re: Crypto News

ETF'ers got their first bit of turbulence today. Down over 6%, but at one point it was down 13% from the prior day close. Dealing with the ETF is much simpler than the actual "coin", especially when it comes to cost basis, taxes, fees, and execution. It's just as easy to hit the sell button the ETF as it is to hit buy.

This is what I find interesting, how will the ETFs move BTC, or will BTC move the ETFs, it seems the tail can wag the dog now. I emptied my crypto wallet last year, because of the tax hassle and shady exchanges. Now we have safer (less difficult) opportunities to work with.

For myself, I've chosen to use FBTC (Fidelity Wise Origin Bitcoin Fund ETF), but there's no way I'm going to let the position get too big. :smile:

 

[Bullitt]

Re: Crypto News

BTC is seeing some weekend volatility and possibly threatening the psychological $60k level. With BTC down 15% from the high, how many ETF buyers will be looking to sell on Monday before it goes lower?

Looks like this might have been a response to Iran launching drones towards Israel.

 

[tsptalk]

Re: Crypto News

Can the big bull flag breakout or does it need another trip to the bottom of the flag first?

 

[tsptalk]

Re: Crypto News

Per Gemini: Bitcoin's price started at zero when it was introduced in 2009. The first time it had a price was in October 2009, when 5,050 bitcoins were traded for $5.02. This made each bitcoin worth about $0.0009.

That original $5 purchase would be worth somewhere near $323 million today.