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Other / Archival / Re: Are you ready to see Bitcoin at $10 000?
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on: June 23, 2022, 04:26:30 PM
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$10,000 is far, far too bullish. Bitcoin will definitely go below $10k, and it is almost guaranteed to be a lot lower. Fair market value of a bitcoin is probably closer $100 than $10,000 in the current economic environment.
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 23, 2022, 04:23:51 PM
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OT: Another CNBC bitcoin article from the snarky lips of Jim Cramer himself. You know, for a guy that flip-flops back and forth from hating Bitcoin, to thinking it's amazing, and then back to hating on it again, he sure does spend a lot of time air time commenting on it. 
Charts suggest bitcoin could rally over the next few months but likely won’t reach old highs, Jim Cramer sayshttps://www.cnbc.com/2022/06/22/charts-suggest-bitcoin-could-rally-over-the-next-few-months-but-likely-wont-reach-old-highs-jim-cramer-says.html
"According to DeMark, when you get a decline this ugly … it often does structural damage to the asset in question,” he said. "If you’re thinking long-term, DeMark says that it could take many years for bitcoin to come near its old highs, maybe even decades. It’s possible we’ll never see them again," he added."
You hear that Average Joe? The message is clear: if you are underwater, you might wanna sell at the next relief rally! Bitcoin will never see it's last ATH ever again! /s Yeah, but DeMark is right. Bitcoin will never see its last ATH ever again. I don't understand how that isn't obvious to everyone at this point. I mean, ok, sure, maybe in 2072 bitcoin will be worth "$69k", which will be about what a pack of skittles costs on mars. We have to face the reality of the science and math now. The crypto experiment has failed. USD is a safer "investment" than bitcoin at this point. |
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Economy / Speculation / Re: Was $17.5K the low?
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on: June 21, 2022, 05:23:36 PM
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I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.
The best and most scientific strategy right now is high leverage short positions. In fact, that is guaranteed to be the most profitable trade of this decade as bitcoin continues its collapse. |
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Economy / Speculation / Re: Was $17.5K the low?
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on: June 20, 2022, 04:21:58 PM
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Ok, here's what's going to happen. And I've done all the research and science, so you don't have to. First, bitcoin will never be above $20k for more than 1 month ever again. I don't mean this year, or over the next 2 years. I mean ever. Will never happen. So get any hopes of new ATHs completely out of your head. Second, the price of bitcoin at the end of this year will be much, much, much lower than the price right now. Finally, and here's where the science gets a little tricky. Is the price sustainable between, say, $5k and $10k? Maybe, but not likely. My math shows that bitcoin has the highest sustainability quotient between $750 and $2,342; and that's where I believe we're headed. If I wanted to own bitcoin again (I don't because USD is a much safer long term investment), then I'd stagger entries mostly between that range, but I would definitely place some buys in the low hundreds, like around $250 in order to catch some of sharp moves we'll see over the next 2 years.
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 15, 2022, 01:40:52 PM
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the tide will turn eventually... all the brrrr money has to go somewhere... keeping cash is no option long-term call me delusional but I wouldn't be surprised, if we saw 100k within a year.. the road for that possibility is just getting cleared from all the obstacles aka lending (=shorting) scams and weak hands edit: ok, let's say 2 years  Not delusional. If the Fed reverses this is a possible outcome. It is not a possible outcome for a year or even 2 years. Possibly in 10, but then a new Toyota Corolla will start at $100,000. |
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