I noticed a similar trend regarding sentiment.

The people who were around in 2017-2018 they are all thinking a bear market already started and are going to get out on the next rip. Probably when $42K breaks and they will liquidate most of their crypto at $50K or so.

The people who just joined in 2020-2021 they still are thinkking we will go to $100K. So the sentiment is very skewed at the moment and very difficult to tell where we will head.

Its bullish with all these tether and USDC prints that we are getting and it signals that people are still getting into crypto.

Nvidia is not the only company to have similar earnings like this compared to last Q1 2020. Look at Apples sales on iPads. I think their's was something like 80% more iPad sales in 2021 compared to 2020.

If I recall when the pandemic started, everybody wanted to get an iPad or Macbook because they were stuck at home and wanted to play with apps and watch Netflix. You would go on Craigslist and prices increased maybe by 50% for second hand iPads. I remember an iPad Air was like around $100 before the panedmic, after the pandemic it was like $150 or so.

The stores were closed so you couldn't go in person to buy one. Later the sales were online only and people finally could start  buying them. So this is why the Q1 2020 sales were so little compared to Q1 2021 so it shouldn't be a big surprise.

I don't think he will ever accept BTC as payment for his cars. In that small period where he allowed BTC for payments how many people do you actually think bought a car with BTC? Probably less than 100 or even less than 50. If someone wants a tesla, they will just sell their BTC and buy it with fiat instead. I don't think they will sell more cars just because they accept BTC.

BTC went up because they bought $1.5B worth on their balance sheet. And price at the time was $33K and looked like it was going to go down. However his investment made price go up to $40K. Because now everybody is thinking that Apple, Facebook and other companies will start to invest in BTC. However that is not looking like the case right now.

No idea if this is true. But there was some guy on Tiktok or Twitter who invested $5000 in Doge. Then when he wanted to sell and withdraw, he was confused why he is only getting $2500. He made a post about it because he thought something was wrong with Robinhood because he started with $5000 and was assuming "stonks only go up" and was puzzled as to why his portfolio is worth $2500.

When I read something like this, its hard to tell whether its true or not. Sure it can be a joke but is it. People are so accustomed to making so much money for doing nothing, they are puzzled when they actually lost on some investments.

So posts like this that I am seeing doesn't really surprise me. This is pretty much a repeat of the Dotcom bubble only 20 years later. And it will not end well in the end.

Remember the people back in 2017 who didn't think BTC would ever go below $10K again? Remember the people who didn't think ETH would be double digits? When there is greed everybody wants $100K bitcoin and $10K ethereum however you need to understand that the sentiment changes here every week pretty much.

So yes its possible for ETH to go to $800 however most likely if it does, will you buy more? Most likely you won't because you will think crypto is dead, everybody is leaving crypto and that it will never hit ATH again. Instead you will buy most likely at the ATH if it ever reaches it again.

Point is nobody can prove what will happen. We might of topped in April, we might top again later in the year, or we might top again in like 3 years in another cycle. Or we might never top again and this was the peak of crypto.

My advice, before you go all-in. You really should wait and see what happens. Sure $30K sounds like a steal when we hit $64K back in April however imagine buying everything now and then we go down to like $25K or $20K or even $15K? What will you do then. You can't buy more because you are out of money.

Same for alt coins like ETH. Look how badly these coins corrected back in 2018. ETH went to less than $100 at two points. And BTC went to the mid $3.5K. Right now everybody is bullish however this can quickly change with how eveything else is developing. If you really want to buy then DCA and see what happens. Worse case you buy a little higher but you got confirmation that we will hit ATH again rather than buying dips after dips and losing more and more money.

You might not realise this but most newbies have no clue what POW or POS is. Some even have no idea what difficulty is. They are just doing this to make money and nothing more. As long as their generating a profit day after day, they will keep mining and upgrading their farm when the hardware becomes available. They are not worried about ETH crashing to $500, or ETH difficulty doubling due to new ASICs or ETH going POS.

Mining is not the only sector. Look how many people are sending their pay checks, life savings, taking out loans and buying stock options for GME or AMC or buying meme crypto like Dogecoin? They don't really care about the companies such as GME or Doge or how it works. They just want to make money.

Until there is a massive capitulations, even larger than the crash to $30K, then this will keep happening.

I think mining is considered passive income. Unless you got some mega farm where you need to monitor 24 hours a day then the original setup might take a few days weeks to sort out but as long as your rigs aren't crashing, you are pretty much doing nothing to make that money.

Once in a while you might need to reboot some rigs or change some part like a riser or PSU. However you are pretty much making money in your sleep. This is passive income. Sure its possible it might not be profitable in the future, but you just turn off your rigs and wait. If it doesn't improve just sell all your gear and move on to something else.

There were massive amounts of tether prints in the last few days so you need to ask yourself this. Why is there so much capital going into crypto if there is about to be a bear market?

I don't think people are printing tether, then using that tether as collateral to short btc or other cryptos. There are easier ways to accomplish this such as with bitcoin future. Right now its hard to tell where its going to go.

I think it will go higher but might not be until it maybe retests the $30K low, and it will be interesting whether that low holds or not. If it doesn't then bitcoin will have a hard time making ATH anytime soon. However it might be a repeat of 2013 where we peaked in April and then again in November. And when we broke Aprils high of $250 we went to $1100.

Seems its 50/50 right now. A month ago 95% of people were ultra bullish and right now there are one hand of people who still think BTC will go to like $100K and the other half think its going somewhere between $8-$20K. Very hard to read the sentiment right now.

I think if we do go to like $20K then its confirmed that $65K was the top. However if we range trade in this area for like a few months and then we finally break $42K then I can see us going to $100K.

If we break $42K sometime this week and then next month we top at like $50K and head back down, then I think eventually $30K will break and we'll start a long bear market where we will reach maybe the 200 WMA which is like $15K right now.

Don't you guys typically get rolling black-outs from time to time. This is hardly due to the fact that its very hot there and in the Summer everybody turns on their air conditioner at the same time and there isn't enough load to support all this power. At times it gets really bad and you got these blackouts from what I hear.

From what I understand you guys can't use nuclear power because you have too many earth quakes and its way too risky. I wonder what will happen in a decade when every vehicle there is an electrical car.

Yes in hindsight it looked like a great trade however it’s easy to see after the fact. How many people actually trade this method? I think it’s just a coincidence that it worked.  If you pull up different charts for stocks or other alts you will see tons of areas where it’s a similar pattern but it doesn’t work.

Why did it go down? Was way too overextended in my opinion. Look at how many people you know in real life that are investing in crypto and who have no financial experience. So many people spent their life savings and maxed out credit cards buying coins like Doge. We knew this would happen only didn’t expect it to happen at $64K, maybe higher at like $80-90K.

The fact that it failed to stay above $40K is alarming. Another issue that is alarming is that whenever there was bullish news released Bitcoin either didn’t pump or it pumped by got faded. This isn’t a good sign.

I don’t think $30K will break however. We might trade sideways for the next few weeks or months and break $42 K then.

Right now I wouldn’t be in any position. There is tons of chop now.

Just because he bought at $33K doesn’t mean price will stay above that figure. Saylor average is like $26K or so.

It can go lower than $33K and Tesla can hold the bag for a few years but most retail traders cannot hold this long especially at a loss.

If it goes very low they can buy more to average down, most retail traders probably can’t however. Saylor is going to be a bigger issue if his debt is called and he will need to sell.

It might of been the bottom or not. Keep in mind many in 2018 assumed $6K was the bottom and look what happened, the bottom was $3K instead. There was much much more fear at $3K than at $6K even though many people were 100% it was the bottom.

So we will see how the next few weeks go, however there are tons of people who are holding massive profit from buying at $19.5K and the market might come and take those profits away from them. Just like the market took away the $3K entry price of the people who entered in early 2017.

This is how the market cycles work.

The coin is stable now because the holders dont want to sell because they are most likely sitting at a loss if they bought last month and the shorters don't want to short because they are scared of another Elon tweet regarding Doge.

However I gaurantee you thats in the next few weeks its going to be nothing like a stable coin. Keep in mind there is currently like almost $200,000,000 per month of miner reward Doge released into the market, these are most likely going to get dumped by the miners.

I think California and Hawaii are one of the worst places to mine. Usually when there is a massive price corrections its the miners from these locations that have no choice but to power off their rigs.

Currently unless you pay more than $0.60/kwh you are mining at a profit. However it won't that much of a ETH correction or hashrate spike to render mining unprofitable for some. In Europe in certain countries mining is also expensive at like 0.40Euro kwh.

I also dont think you should mine in California especially during the Summertime when there is a shortage of electricity and they turn off peoples power due to shortages.

I do maybe 2 or 3 transactions a year. If I did transactions weekly then I would upgrade to either a hardware wallet or newer Electrum. However for someone as paranoid as me. Getting a hardware wallet just adds another layer of security flaws. Such as what if device is tampered, what if your home address is leaked, what if there is some vulnerability thats discovered one day.

To upgrade Electrum you need to make sure the online wallet is genuine, then offline wallet, then most likely I need to upgrade Ubuntu because version 16 might not support the newer dependencies, then I need to download the dependencies and verify each dependency make sure its not altered. Alot of work.

These old versions still work. All I do is keep restarting Electrum until I connect to a phishing node to get the up to date transactions. Then I make an unsigned transaction on the online computer, move it to offline by taking a photo with a digital camera from the year 1995. Put that SD card into the offline computer, load electrum, make sure the destination address, source address, timelock block number, are all correct, then sign the transaction. Then... take a photo of signed transaction with iPhone, and then before I broadcast it, I decode it, make sure the addresses are correct, if they are correct, I broadcast it. I can't broadcast it with electrum because it gives the phishing message. I also know of the RPC attack however, I don't leave electrum running in the background.

Thank you all that replied, gave you all merits for your help.

I think the peak will be around the peak of the stock market. The stock market should peak when Covid is behind us. Which seems like in the next 2-3 months or so. No more stimulus and everything returning to normal. The issue is that Biden wants more and more trillion dollar stimulus even after covid is said and done.

So this rally could continue for years however at a much slower pace and BTC could also follow. However if the volatility of BTC is low most people will probably sell it and leave. Too many impatient people out there in stocks and crypto these days. GME is mooning again but I am pretty sure many already sold earlier because it looked like it was going nowhere and now it might break the ATH again and go to like $1000 or $2000 and bankrupt more Hedge funds.

I tried setting up some type of API where if Elon tweeted about Doge, then it would automatically buy however you would be surprised how many people out there are already doing that. And honestly most of the time ,the entire move completely retraces. It seems its better to just short the rip, put in a tight stop and short it back down to where it started to rally from.

This is a guess common. Basically if too many people do the same thing then obviously it won't be profitable anymore and this is pretty much what happened. I am surprised that his tweets have so much power to be able to make the market cap change in near seconds by his tweets.