I can say one thing at this time, finding large OTC sellers is currently impossible and the buyer queue keeps growing.
Source? I mean, they would be dumb to sell, but can we back that up? |
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I hope that is not meant to be TA, because if so that is the stupidest shit I have ever seen. Looks like a teeter totter to me |
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 The other resistance levels on filbfilb's other chart has been broken. That points us towards $80k levels in 6 months. (by the end of this year) That is a price point which is going to make everybody happy hopefully. How crazy is that? STOP RIGHT THERE. YOU'RE GOING TO MESS UP MY TA. On second thought, pump away |
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If you throw in a century of economic growth then 9 digits could be plausible as well as follows:
Suppose Bitcoin absorbs 10% of M2 and the M2 growth rate of roughly 4% persists for a century.
That would imply 1.04^100 = 50.5x growth over 100 years.
That would bring the 10% estimate from 3m per Bitcoin to 151.5m per Bitcoin 100 years from now. These kind of valuations are highly flawed. If bitcoin ever absorbed even a fraction of "M2" growth it would be largely as a pure unit of account, not a store of value. In other words you'd (by definition of M2) be talking about BTC denominated bank deposit accounts and money market funds and all kinds of other fractional reserve derivatives. Use of bitcoin as a unit of account is something hodlers tend to ignore. If bitcoin ever became a currency we would not be exchanging actual bitcoins, but bitcoin denominated credit just as we use arbitrary units of credit today. So you can't just divide random incumbent money supply figures by 21 million to get a price for a future BTC. Since it's limited in supply it's an asset and will always be an asset. If you denominate, say, UK GDP in bitcoin then it's around 0.3 Trillion BTC. The GDP can be 0.3 Trillion BTC even though there are not that many bitcoins in existence. Oy vey - where to start? Obviously, if UK GDP were to be valued in Bitcoin, then Bitcoin would rise in price in order to be able to accommodate UK money supply in the allotted number of Bitcoin units. As an aside - you might satisfy yourself with Bitcoin denominated credits. I think most here already understand the folly of such acceptance. The reason the US departed the gold standard was an unacceptable risk of a short squeeze on the Federal Reserve. I cannot see how any Central Bank would be foolish enough to put itself in that position again. So Bitcoin denominated notes, convertible or not, seem out of the question. |
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Ah, 8000 my old sausage, how are you doing? It's been a long time.  Watch $8600. If you follow PnF the point and figure charts say we could go parabolic to $50K+ if we get a weekly close above $8600 on Bitstamp.
Interesting. I'm watching 8500 simply as the last rally and resistance point from the 6000 level. I need to go back and study 2013 |
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Look at the chart above your post. We are only 5 months ahead of schedule right now. We should be hitting this price in November 2019 in any event. Do you really think that this is a big deal?
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Loud and proud  |
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Hahaha that’s about correct.
They make it really easy to use leverage on longing or shorting so that makes it appealing. But it is a home of deep fuckery and the volume and order books are completely fake and their in-house trading team is front running trades. Hard work to consistently make a profit there.
... unless you stay under the radar with small trades. And only use pre-set limit orders - never market orders or market stops... |
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Hahaha that’s about correct.
They make it really easy to use leverage on longing or shorting so that makes it appealing. But it is a home of deep fuckery and the volume and order books are completely fake and their in-house trading team is front running trades. Hard work to consistently make a profit there.
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Nah they don’t trade fiat or Bitcoin. It’s all bets on XBT which is their paper bitcoin tied to the bitcoin price by a complicated formula
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Choppy waters ahead.
Batten down the hatches.
Seems to be a pattern to pull back 12 hours into the daily candle and then start punching it again toward the candle close, with momentum carrying onto the new daily candle. Let’s see if the pattern holds again today. |
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$3 million Bitfinex wall chewed up and spat out. Any rational reason why Bitfinex led the charge and now is lagging behind?
I think this is an organic rally driven by small buyers. And they aren’t the sort of people who would wire their funds to Bitfinex to buy. Bitfinex is a whale playground. |
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It's so nice to go out for a walk on a beautifully sunny Sunday morning, and to come back home and see that your BTC is worth more that you left it...
A two-hour walk earned me 4 months worth of salary money...
Go Bitcoin, go!
In my case, 1 day earned me 4 years salary  That sir, is a good day. |
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It is a pleasure to serve with you Mic
We shall live and die at our post. We are the long in the darkness. We are the watchers on the Wall. We are ... the buyers of last resort. We pledge our lives and honor to the Wall Observers, for this night and all the nights to come.
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Stamp leading Bitfinex by $140...
A lot of big sell walls on Finex. 100 BTC sell walls every 20 or 30 USD. I don't know if you are aware, but sell walls mean the price is going to go up, not down. It works opposite of many people think. Somebody had a great explanation for it but I forgot who was it and can't bother to find it now because i am excited as fuck while watching the charts He was Hairy probably but not sure. The God PDF https://cryptofrenzy.files.wordpress.com/2014/02/god.pdf |
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Well he’s not getting my money. Somebody work out how much more money he made in fees in the last 24 hours  |
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happy mothers day Happy Motherfomo Day |
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Stamp leading Bitfinex by $140...
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