Can we trust Fox News? Don’t tell me they got this rumor from WO? It started with a tweet by Alister Milne: RUMOUR: Facebook will annouce they hold #Bitcoin on their books when they release their quarterly results after trading closes tomorrow — Alistair Milne (@alistairmilne) April 27, 2021 It was supposed to be a joke to see whether the market will move. It did not Anyway, in 2.5h we will know for sure on their online presentation: https://lumen.webcasts.com/viewer/event.jsp?ei=1448878&tp_key=6c820d0d7e
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This Tesla's liquidity test sell is of course a cover-up for turning Q1 to profit for Tesla. But it may have a positive long term impact on the mass adoption among the institutions. Some of them are still hesitant because of the fears of liquidity issues. Even Musk at first raised a doubt about that. And of course, SEC denied ETF's mostly because of the low liquidity of the US exchanges, which makes Bitcoin volatile and susceptible to manipulations. It is like a pop quiz in school. Now everyone has a proof that the liquidity is there and every institution may sell big amounts with a little discount. So, this is another victory on the way to the first ETF's approvals later this year. But for me at least, there is another major reason for all what happened in the last 6-7 months. In the years of bear market I sometimes expressed regrets about these endless barts caused by the owners and close friends of Bitmex. I remember one post, when I said that the price would had reached 100K in no time if Bitmex didn't exist. I was opposed by r0ach, who claimed that prices above 10K are not sustainable because of the miners profits getting too high. Of course, no need to explain to the moron the elementary things. Coincedence or not, but on that very day, when CFTC accused Bitmex, the barts suddenly stopped. And since then I can't find evidence of derivate manipulation. As a consequence, Bitcoin has become less volatile which is quite appealing for the institutions and billionaires. I will go even further and say that Bitcoin won the war with the derivate manipulations and all these round numbers 100K, 1mil, etc. are just a matter of when, not if. In particular, one day the US government will decide to build and maintain a Bitcoin reserve, followed by governments and financial institutions worldwide. Just imagine that - almost everyone will prefer to receive their salaries in Bitcoin and people like mindrust will realize how big their mistake was. For how long peeps like that will keep refusing to use BTC in credit cards, paypal, amazon, etc.? One - two years max. And imagine mindrust buying satoshis at price around 1mil to be able to buy a vacuum cleaner on amazon? That will hurt a lot! tl;dr. In case there are still peeps who plan to exit with most of their stash, a word of warning: It is better to sustain a fiat/ BTC percentage and never exceed it. For some it is 1/99, for others 33/67 or even 50/50. But everything above 75/25 may and will turn into a disaster. Of course, the ratio is individual and it depends on the age and the plans. For peeps still far from a retirement 0/100 is not bad at all
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I really don't trust this dip to be sustainable. The bears spent too much coins trying to keep the price below 50K. This is their last chance for cheap coins. Breaking of 100K can be done in less than one month, solely by Microstrategy or Elon Musk, not to mentioln the expanding mass adoption. And currently two market indicators are raised as warning flags of an incoming bull run. First, depth charts are hugely in favour of the buyers. In Bitstamp there are over 2.1K BTC in buy orders down to 41.3K, vs 291 up to 55K. Bears are now quite pissed off by that. So much efforts in twitter fake accounts, fud, etc. and now they even can't keep the pirce under 50K! Second, RSI (14) is the lowest in more than 9 months, so it only can go up from now. And there are countless other market indicators like the BTC reserve on exchanges which continues to decrease. The possibility of reaching 100K in the next few months is quite big, IMO. And if the ETF news comes at prices near 150-200K, that would be awesome. Gold, we are coming for you!
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Looks like we'll be getting to that 30% correction.
So far a 25% correction at 48 338$. Is this all the bears can do? Are they out of ammo? Because if so, this will hurt them a lot in the next weeks. Below 50K is too attractive to remain longer than a couple of hours.
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I've just bought 0.275 BTC at 53 300$. If the price doesn't fall below that (again), this anomaly will be for the first time in my life
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Speaking of past cycles, there is something interesting I've noticed in the present bull run which resembles the 2017's bull run. We can divide 2016-2017 bull run in two parts. The first is from May 2016 to May 2017. The price increased around 600% from the average price 500$ to 3000$. At the same time 3000$ is a 300% increase from the previous ATH 1000$. Then we had 2 months sideways action in the range 10-20% below the 3K ATH. And from August 2017 to December 2017 the price increased 600-700%. And now we have exactly the same situation as in the Summer of 2017 - 600% from the base of 10K in May 2020 and 300% from the last ATH of 20K. We have already 1-2 months of sidewasy action, so it remains to be seen if the next 6 months will repeat the 2017 pattern of 600-700%. Starting from 60K that would be a top between 360K and 420K. I can live with that I mean, literally And this time I really doubt we will see a 85% bottom from the last ATH. IMO it will be more like 35-55%-ish.
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$4.86 billion worth of BTC positions got liquidated over the past 12 hours, and $9.12 billion if you look at all markets. That must be a new record. https://www.bybt.com/LiquidationDataI see now why some nasty bastards offered millions to buy twitter account with many followers. This was a planned attack and the n00b traders fell for it. Of course the news is fake and the market will recover quickly next week. Now the obstacles for a full-blown bull run above 100K are removed. No more high leverage longs, no more weak hands squeezing each pump. The bulls should be preparing now!
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The unmentionable exchange BTC/€: 49 400 which equals $59 181. Just lolz This "crash" is the funniest FUD flop I've ever seen Weak hands removed, shorts/longs liqudated... Nothing can help the bull run better. I expect over 100K in 1 month
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The way I see it is that in the last month the bears first failed to break the 52K support. Then the support shifted to 56K and they failed again. Now it is around 60-61K and they still can't break it even though they've been trying hard in the last couple of hours. Again, they see the weekend low volume and think this is their chance. But in general a move in either direction with such a small volume will be neutralized in a matter of minutes, when the volume returns in the next days. There is no significant inflow into the exchanges and the reserve will decrease at least until prices above 120K. The hodlers are not willing to sell anything in this dead zone. Honey badger doesn't give a f**k about weak hand low volume sells. As always hodlers buy moar. So do I 0.65 BTC ding-ding!
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i am a bit concerned with stockmarket/dodge/btc/everything pumping....bet everything 'adjusts' or 'corrects' about 15-20%
Right? Like, everything's fun and cool but it's kinda scary that we've re-entered a 2017-like phase of the markets where literally every shitcoin pumps. Wouldn't necessarily mind an even deeper correction but I'm more afraid of a crypto winter instead. Feels like there was so much hype ever since 2020 and I'm not sure how healthy this long of a hype is. Damn, I'm so mixed up with my thoughts. I see Bitcoin pumping the hell up but I also see it dumping hard. And these alts are so damn tempting to get into right now just to multiply my BTC, but I know it's a somewhat repeat of 2017 and a lot of hands are gonna be baited and screwed hard by alts.. on the other hand, I've seen the markets for so many years and made enough mistakes to approximate when it's time to purchase alts and when it's time to dump them all, and it seems like we're right in between the two so I stretch out every millimeter of my brain thinking whether I should react in any way to the markets or just see my portfolio value act up like a tsunami instead again, lol. Had ~20 BTC only from 1 alt back in 2017 but greed took over. I've basically seen that turn from 1 to 20 BTC and then back to less than 1. Alts are great if you wanna multiply your coins quickly during these kind of times, but otherwise they're just traps waiting for the next victims The best advice has always been: Do not invest in shitcoins! You could win but then you could lose all. The risk is too big. Besides, you will lose your sleep if when your shitcoin crashes day after day for 2-3 years, hitting 95%+ loss and no guarantees for a recovery. The shitcoin pumps were abundant in late 2017 indeed, but how can this be a sign for a coming bear market now? May be they attract the risky players more, but are they needed for BTC's price discovery? I don't think that the weak hands are good for BTC. The other and way more important short- andl longterm market indicators are not present for such a U-turn currently. You can follow these market indicators on glassnode website or by just reading their articles. May be the things will change if the exchange reserve increases 33%+ and the 2 day pumps get close to those in Dec 2017. Then we had 66% pump from 11K to 19K-ish in 2 days, which was hardly sustainable and the weak hands got scared and started selling. With 6-7% daily pumps currently we are very far from such a scenario. But even if that happens again, it is a matter of 2-3 years max to recover and surpass the previous ATH. During that time - DCA only! It will be good enough for the next bull run, no need to be greedy and use shitcoins.
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So it begins, the final approach to 100K!
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My job is not well paid even for my poor country, but I have no moral right to quit. This is a dream prestigious position that I worked very hard to get. It requires talking with people mostly about computer technology and Bitcoin for 6 hours ... per week (edit: plus 5 months paid vacation per year). Yes, my bosses are idiots and they try to humiliate me in every possible way. I could become a boss too, but that would mean I have to work 8 hours per day, no thanks! But they have no idea that my wealth is equal to the yearly budget of the whole organization (which has hundreds of employees), so I am quite happy for now and gloat from the inside . But I'm thinking of finding an income on a certain island where for now I intend to spend each Summer. And at some point I can settle permanentrly with the help of the stash I have. Theoretically I could buy a small 200-500m 2 villa and live without an income for 2 decades, relying only on my BTC stash, but I am afraid to take any risks. Hopefully this dream will become true soon. Hitting 200-300K price target will make the things much easier for sure
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Well, we have a new € ATH for today!
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