The Bitcoin (BTC) thread

I'm looking at down.

At this point in 2017 BTC dominance was down 18%.

This year it's down 14%.

Clear long-term trend down for BTC.

Screenshot-at-2021-04-10-17-01-05.png


It's pushing below long-term resistance here.

I've been considering selling up and switching to CAKE and a few others I think will have a bigger upside this year.
WTF. Buy bitcoin.
 

lonewolf1968

Kingfisher
@Deepdiver you mind posting some charts my guy?

@bucky and I, and all the other amateurs want to know when to sell and when to buy back in.
Hey in case you need any insights, check the Benjamin Cowen channel out. That guy is a pro man. Not an expert but seems like if we close above 62k next target is 70-73k, chances of a correction to the 40k levels is very likely though. Just a newbie like you, so let's wait for the pros here.
 
Hey in case you need any insights, check the Benjamin Cowen channel out. That guy is a pro man. Not an expert but seems like if we close above 62k next target is 70-73k, chances of a correction to the 40k levels is very likely though. Just a newbie like you, so let's wait for the pros here.
Just start DCAing now, if there's a really significabt "correction" (Doubt it) you'll buy it. If it just keeps rallying, you won't be left waiting for a dip which never comes.

If you get bitcoin (and you should), you'll know trying to time the market with TA is a waste of energy.

simply because Ngu.

Just DCA and Hodl.
 

Arado

Pelican
Gold Member
I’ve been trying to resolve this bizarre divergence in the Bitcoin community. On the one hand, you have the idealistic libertarians who think Bitcoin is invulnerable and can’t be banned.

OTOH there are many cynics out there who claim that states won’t give up control without a fight, and do we really know if Bitcoin will survive an attack from a nation with the resources that China has? Here is a decent article from Capitalist Exploits. I’ve heard these refuted before but they still make intuitive sense.
The government is a force that likes competition in the same way that the Mafia do.
If you’re wondering what that means, it means they will ban Bitcoin at some point.
If you think the government cannot simply “ban” Bitcoin, you’re probably thinking about it the wrong way.
A government would have to ban the internet to ban Bitcoin (which by the way just happened in Myanmar, but anyway…).
This is one of the biggest arguments that proponents of Bitcoin and blockchain have – it’s impossible to do, given society relies on the internet, so governments cannot simply ban it, it won’t happen.

But let me ask you…
Would you buy bitcoin if you needed a (very expensive) banking license to?
How about if the government issued hefty fines for trading it?
What about 10 years in prison for buying it? Or worse?
Sounds whacky, doesn’t it?
Well, the state of Western Australia in good ol’ cruisy laid back Australia recently imposed $50,000 fines for you if you’re caught not wearing a goddamn mask.
If I’d told you that in December of 2019, you’d have called me a lunatic.
And yet, here we are.

On the other hand, institutions are full blast getting into this and Coinbase's IPO is tomorrow.



Not only that but US local governments are gung-ho:



 

Arado

Pelican
Gold Member
Continued

But yet there is still a lot of negative sentiment around crypto:


But it's refuted by others:


And will government play ball?



Bitcoiners also admit that Bitcoin is a manifestation of classical American values that the founders would be in favor but it’s absolutely against the welfare/surveillance/empire state that things have evolved into in which DC, NYC, and Silicon Valley get first crack at the money printer while the productive middle class gets shafted.



Something just doesn’t feel right here - how can so many big money institutions jump into an asset at the same time that banning it still seems on the table and Bitcoin will prevent the ‘deep state’ from many of their objectives?

I posted earlier about this and never got a clear answer - are Bitcoiners being set up for getting their wealth seized and devastated, or is everyone just front running the inevitable fall of the financial system and know the U.S. will ultimately be powerless to stop it?

Bitcoiners also have been universally unwilling to address the elephant in the room - will (((they))) accept a system in which the supply of money can't be manipulated for political gain?
 

Blade Runner

Pelican
My feeling is that it is too late.

The only choice for the US government is to counter the centralized, communist type thinking and actions of places like China with real initiatives for freedom and bitcoin, or it will just lose over and over again. Assuming the government is competent is a classic exercise in fear porn. That they can make examples of the few (low hanging fruit) means nothing.
 

"Higher than expected" -- Translation -- >"Higher than we told the gullible teevee watchers to expect".

Remind me why people still listen to what the suits with fancy pedigrees on the TeeVee say, instead of using their own braincells based on their own research pulled from the biggest repository of information the world has every known (God, then your own reason, then your own experience, then the internet (as an auxiliary)?

How are so many people in 2021 still not tired of getting rekt, of having their whole lives rekt, by trusting spurious authority figures who just want to milk them?
 

Deepdiver

Crow
Gold Member
@Deepdiver you mind posting some charts my guy?

@bucky and I, and all the other amateurs want to know when to sell and when to buy back in.
Since my institutional Stealth Advisor captured $268M just on the Elon Musk BTC CME futures Pop and Retrace in the same day he is the only Pro I Trust. This BTC chart should be self explanatory - blue horizontal support/resistance targets up to 69K to 71K remember the current 20 day ATR is still over 3K per day so use ranges as the BTCUSD volatility can easily run past technical targets on any given day:

Long term Trend Channel in white - short term trend channel in yellow - current Wave 5 long and mid targets now 69K then a likely A-B-C Waves .618 Golden Ratio Retrace to the 200 Day Red Moving Average - see Fibonacci Retrace targets from 69K on the right - left Fib is the wave 1-2 Fib extension - two different tools on Tradingview.

Notice how the 50 yellow 100 orange and 200 Red Moving averages line up nicely to the Fib retrace targets - Expect A to 100, B back up to 50 and C the longest to the 200. Keep in mind BTC is the tide that raises and lowers the ALTs.

After the ABC retrace I expect to see a Mega 5 wave run up to the 4.236 Fib Extension of $187K so Crazy BTC Hodler Max Keiser's 2021 200K BTC prediction is not so crazy after all. The current Large Green 5 Wave becomes a larger degree Wave 1 and the ABC retrace the Larger Degree Wave 2 - then I will do a really eye popping new Larger Degree Wave 1 & 2 Fib extension! Could do it now but do not want to be responsible for Mass BTC Hysteria ;-)

1618429202535.png

Current BTC 20 Day ATR = 3354, True was today's move the Maths don't lie:
1618430793434.png
 
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GodfatherPartTwo

Woodpecker
I'm reading a lot of potheads who want to make the price hit 69k on 4/20. Maybe now would be a good time to buy in and cash in on them when it goes up the day before. What do you guys think?
 

Deepdiver

Crow
Gold Member
I'm reading a lot of potheads who want to make the price hit 69k on 4/20. Maybe now would be a good time to buy in and cash in on them when it goes up the day before. What do you guys think?
Cynical brother Cynical - though the charts above confirm the Potheads predictions - personally only smoke good Maduro Cigars so not High just following the Maths...
 

GodfatherPartTwo

Woodpecker
Cynical brother Cynical - though the charts above confirm the Potheads predictions - personally only smoke good Maduro Cigars so not High just following the Maths...
Maduro is good but personally I'll be smoking a Cohiba after I skim the potheads of some short term money.

You think Doge will follow BTCs trend that day? There's more money making potential there.
 

Coja Petrus Uscan

Hummingbird
Gold Member
@Arado - regarding your query. I don't think the globalists are in the business of pushing out dark projects. They don't need too. You can see with the virus hoax how incapable of analysis people are. Most people are incapable of doing anything but downloading the official line. Anyone outside of the download is considered an idiot. And society is almost wholly controlled by institutional narratives.

Most of what they are pushing now has been lying around in think tank reports and elite white papers for decades. I have not heard anything about them using a stealth, essentially uncontrollable currency. They have been writing about the opposite, getting rid of cash and forcing people onto a new central bank system backed by a global basket of fiat. That makes perfect sense, as the current financial order is decaying and they already had a new one mapped out to replace it.

The Western elite have a useful habit of folding what used to be diametric threats into their system. Consider The Blacks. Several decades ago they didn't want anything to do with them. Now they all wear them as armour. They have rolled the radical left up into their system; and they will attempt to do the same with crypto.

With the US elite, due to their arrogance they have a habit of not choosing successors or choosing completely awful ones in the case of human soy-twiglet Alex Soros. There was the Elihu Root set, the Dulles brothers set, the Rockefeller-Brezinski-Kissinger combine. And now nothing. When the Dulles set was on the way out Kennedy slipped in on the back of his wealth. As Brezinski and Rockefeller were on their death beds The Orange Man slipped in on the back of his wealth. Both failures, as The US is controlled by "covert means" to quote JFK.

Going forward, it is possible we will see the emergence of a new crypto-elite, who will walk all over the corpses of Google, Amazon et. al. We have seen the same before with nobodies coming to immense power, e.g. John D. Rockefeller, Harriman, Cornelis Vanderbilt, Cuckerberg, Dorsey, Henry Ford and so on.

As for the money masters. Who know who they are or what they are up to. But I've not seen anything from The BIS to show they are in control of crypto. Maybe this is the "industrial revolution" that finally unseats them. Maybe like Rockefeller and co. they are all dead and the ship is going out of control; with Soros making it his moment.

As for a lot of big money coming in. Maybe they are just operating on greed. The financial sector makes money from doing next to nothing, often from government-licenced strongholds. Some may follow greed to their doom.

I was on an Dubai government e-conference the other week. They see it as the single opportunity they have to crown themselves. There are few major companies HQ'd in UAE. After Telegram there is nothing anyone has heard of. They have lots of branch offices and a rotating population. They missed the tech bubble and are have only attracted branches of major companies. They are throwing a lot to try and get companies to setup in UAE. There were a few other government representatives from countries like Switzerland. Obviously libertarians. This is their crack to stamp their mark on the world. There will be an element control, but they know the money will flow most when the control is a minimal. There is a government joke here, "We're a government. Trust us. We know how to regulate." ;)
 
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