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1281  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 08, 2021, 11:35:44 AM
An extra early good morning Bitcoinland.

Another day another obligatory ATH ($41530 Stamp). This time the $3k correction and rebound came first... currently $41350USD/$52420CAD (Bitcoinaverage).

How many new millionaires today? How many reaching 8 figures for the first time?

Go Bitcoin go.
___

Fuck politics.

Everyone is talking about how this rally is driven by institutional investors, but this should indicate that retail is getting onboard too.

All you have to do is step out of WO into the Speculation folder to see this.

The place is crawling with noobs.
1282  Economy / Speculation / Re: Top 20 days for Bitcoin on: January 08, 2021, 01:31:25 AM
Yow.

Every currency by a long shot. Not even close.

Go freaking Bitcoin go.
1283  Economy / Speculation / Re: Bitcoin can hit $50k? on: January 07, 2021, 11:57:49 PM
I think it would be VERY surprising to not see prices over $100k this year. I'd wager by the start of summer it'll have already moved quickly up to mid-to-high 5 digits ($60k-$90k), but then takes a little break as perhaps at that point institutions will wait and see to continue to accumulate lower as they might consider the risk too high on something that has gone from $10k to ~$80k in like 8 months. Then in the Fall we'll see it push past $100k and possibly go significantly higher than that before any serious correction. Though any serious correction after that I bet would be bought up in a matter of months by institutions, and we'll continue seeing upside in the 6 digits next year and beyond. Any major correction will just shift more Bitcoin from retail investors to institutions as they accumulate millions of the bitcoin supply.

I think you are overly optimistic. If a deep correction begins now, then bitcoin will easily spend the next couple of years in the 20-30k corridor and there will be no chance of seeing 100k even theoretically. I think that we will find out in the next couple of months - most likely the growth will stop and we will find out what the high of this year is.

I think you are overly pessimistic.

Why would you think there might be a deep correction beginning now? We're still barely begun the bull run. Retail FOMO especially now is just starting.

I see this year as being a lot like 2013 when the bull run started in late 2012 and continued until early spring growing 25-fold to over 8x the previous ATH. Then after an 80% crash down to just under twice the previous ATH, it consolidated for several months and bubbled up again, this time 20-fold.

This bull run is different from all the preceding ones because it has been mostly based on institutional investment, not retail FOMO. Don't expect hardened institutional investors to panic sell. They don't have weak hands.

I agree with thecodebear in that I think it would be VERY surprising to not see prices over $100k this year.

I think it will probably go a lot higher than that.
1284  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 07, 2021, 10:17:37 PM
... the 'first' big bull adoption wave $32 peak (and first Mt. Gox hack) ... driven mostly by gamers/overclockers getting into mining with GPUs

Don't forget the Silk Road.  Cool
1285  Economy / Speculation / Re: What if Bitcoin drops to $15,000? on: January 07, 2021, 09:25:58 PM
Most people who think it "won't ever touch $15k again" haven't been around since the early days.  Every bull run so far has been followed by a bear market decline of a minimum of 80%

Don't be over-confident.  What goes up must come down.  The positive though is that the bear market declines are getting less severe over time, and the price is stabilizing as it goes higher.  

The last bear market was a crash of nearly 85%.  Many alt coins crashed 99% lol.  

Reality check - the US economy is at an all-time high and stocks are increasing despite record unemployment and many other indicators of poor recovery outlook.  

Bitcoin is rising due to Tether (China capital outflow) and stimulus pumping companies.  As 'wallstreet' becomes more intertwined with bitcoin, the price correlates more closely with US economic indicators.  

What happens if the US economy tanks?

My prediction is that those institutions that bought have agreed upon stop loss points where their investors will not tolerate any further losses.  Those kinds of selloffs will easily cause a bear market decline of 70-80%.  

I enjoy every couple years a bunch of overly optimistic people come here saying "it's never going as low as $$$" and then a couple years later a bunch of overly pessimistic people say "it's never going as high as $$$... bitcoin is done" lol.  It's a cycle.  Just search this forum in 2018 and look at the pessimism.  When the prices are low, people lose faith.  When the prices are high people lose sight/IQ.

Ride the waves, but just know it goes in both directions.  Don't get caught up in the hype train or the doom gloom.  Ultimately we will go to $1mil, maybe not in my lifetime, but who knows.

Well look at that... a noob telling experienced Bitcoiners what is what, or is this just your newest account. If so, what was your old user name?
___

Nobody is saying Bitcoin can't crash by 80% of its value but the chance of it happening this early in the bull run is extremely unlikely.

You also have to consider that previous bubbles were driven by retail FOMO and crashed by retail weak hands. Institutional investors don't have weak hands.

The current bull run has been largely the result of institutional investment. Retail FOMO is just starting to join the party. When the time for a major correction occurs it will probably be much smaller than during retail-based runs.
___

Anything can happen. Black swan events occur... e.g. last March's short-lived Covid-19 crash.

Actual experience is the best teacher. How many of these cycles have you ridden out?
1286  Economy / Speculation / Re: Are you buying right now ? on: January 07, 2021, 08:52:17 PM
for sure the market is now better than in 2018 yesterday.

Why would you compare 2021 to 2018?

Compare 2021 to 2013 or 2017.

We're just in the first rise of the double rally.

Maybe we'll get a bear market in 2022 or 2023. Maybe.
1287  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 07, 2021, 08:15:51 PM
Well well well.

Went out to run an errand and see I missed the fun... $40k breached with volume and then an absolutely lovely correction and rebound.

Life is good. Go Bitcoin go.
1288  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 07, 2021, 04:55:36 PM
Grats Jimbo!

Quote
BREAKING: #Bitcoin soars above 50,000 vicious Canadian Geese. The enraged cobra-chickens continue to grow in numbers.
https://twitter.com/i/status/1347218807492759553

Thanks.

First thing I did after seeing $50k was phone my brother to tell him the good news that he'd earned $2.5k in less than 24 hours.

Seems he'd received a call from his wife's estate saying his money was ready to be picked up and he was already on his way. Had to pull over to answer his phone. Turns out he used his line of credit to get the $20k yesterday because he saw what was happening and FOMOed  a little. Now he's glad he did.

Gotta see if my OTC connection will take his certified check or bank draft instead of real cash.
1289  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 07, 2021, 03:28:15 PM
Just checked CMC to see what Bitcoin's market cap is and we're over $900bCAD.

Gotta try to find that chart with the top 10. We must have left Tesla in the dust by now.

Watch out Apple and Amazon. Here we come.

Edit: oops I was looking at CAD.
1290  Economy / Speculation / Re: Can Bitcoin go below $20k? on: January 07, 2021, 03:17:02 PM
back to $20k shouldn't be included in the figures becasue that will be a total disaster to Bitcoin investors.

No it won't. Only if you sold.

Lots of Bitcoin hodlers have ridden out big crashes like $30 to $5, $266 to $50, $1100 to $152, or $19666 to $3122 and still ended up being multi-millionaires by not selling.

Just don't sell unnecessarily.
1291  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 07, 2021, 02:54:12 PM
Good morning Bitcoinland.

Another day another ATH ($38655 Stamp) but no appreciable correction... currently $38543USD/$49010CAD (Bitcoinaverage).

Getting close to a nice milestone...  $50kCAD has a nice ring to it.

Go Bitcoin go.

Another ATH. An nobody cares anymore Cheesy
 

I care. Every new ATH is like a breath of fresh air.
____

My brother finally got a little cash to buy some coin and bought $20k worth yesterday at $44k and change. Said he wanted a long-term investment and that he understands the cycle of bubbles and crashes.

He's already earned a couple of grand.
1292  Economy / Speculation / Re: Bitcoin market ATH race prediction! on: January 07, 2021, 04:44:30 AM
What do you mean by ATH?

All time includes 20 years from now.
1293  Economy / Speculation / Re: What if Bitcoin drops to $15,000? on: January 07, 2021, 04:31:57 AM
The chance of it ever dropping to $15k is close to zero.

Sorry noobs maybe you should learn about Bitcoin before posting such nonsense.

This isn't some silly stock market trading game.
1294  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 06, 2021, 11:45:56 PM
$36830 Stamp
1295  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 06, 2021, 10:51:46 PM
LOL
1296  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 06, 2021, 10:26:25 PM
He is probably a counter protestor at BLM.  Note how the picture is cropped so you can’t see his sign.

You can make all the excuses you want. These are Trump’s people.  They aren’t Republicans anymore.

will merit asap


Don't even try to reason with Trumptards.

They've been so brainwashed by right-wing propaganda they're incapable of logical thought.

The rest of the world shakes its collective head.
1297  Economy / Speculation / Re: Can Bitcoin go below $20k? on: January 06, 2021, 09:34:33 PM
Can Bitcoin go below $20k?

Did you really need to start yet another thread asking this exact question? Sigh... noobs.  Roll Eyes
_____

Almost anything is theoretically possible with Bitcoin. That said, its extremely unlikely to ever get as low as $20k again.
1298  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 06, 2021, 03:05:49 PM
Volume is still pretty low on stamp and finex for the amount of bullishness..

Much of the bullishness is institutional so it is OTC and doesn't show as volume on the retail exchanges.
1299  Economy / Speculation / Re: When and How much low on next Bear Market? on: January 06, 2021, 02:45:47 PM
1) Where do you guys predict the bull market to end?

2) What is your prediction of the lowest price bitcoin will go again on next bear market?

1) Minimum $80k. Maximum $500k. Likely $350k.

2) Depends on how high the top goes. Minimum $20k. Maximum $120K. Likely $60k-$80k.
1300  Economy / Speculation / Re: Why did Bitcoin raise past $30,000? on: January 06, 2021, 02:32:08 PM
Why did Bitcoin raise past $30,000?
____

I don’t know why Bitcoin plummets, but it seems to be a gamble with all sorts of currencies.

Any suggestion would be appreciated.

It rose past $30k because it is in a bull run driven partially by last year's halving and partially by institutional investment.
___

The reason for it plummeting when overextended in a bubble varies.

In 2011 it was MtGox being hacked.

In 2013-4 it was rumors of China banning Bitcoin, combined with MtGox imploding.

In 2017-8 it was simply a matter of over-extension.

In 2020 it was Covid-19 which also crashed most of the other markets.

That was the last time it plummeted. What happened a few days ago wasn't a plummet. It was a little correction which, as we saw, didn't last long.
___

My advice to you is to hold your Bitcoin steadfastly, resist panicking if the price goes down, and wait at least 5 years.

If you want to gamble your money by day trading, don't be surprised if you lose it.
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