Who's Holding BTC?

[Hay]

@dee - do you see a repeat of December 2017 on the way? It is pretty much to the day!... Pump and Dump?!

 

[Admin]

@dee - do you see a repeat of December 2017 on the way? It is pretty much to the day!... Pump and Dump?!

Everything is different though...

 

[dee]

@Hay Think its definitely due a decent retrace at some point very soon (especially now its hit ath) But think it's a different playing field now and will absolutely head skywards again. You've got lots of positive news and institutional investors jumping on board now. I'm just waiting to get back on board again after taking profit.

Meanwhile there are daily pump and dumps on the minor altcoins to play with


EDIT
This could also just push straight on up. I was expecting a decent correction a couple weeks ago (which @Admin correctly called as just pushing on up to ATH) Meh.... it has to come down at some point (famous last words)

 

[Murray]

This is what I have drawn in for btc atm

better quality than the attachment - https://i.imgur.com/0EL3n20.jpg

 

[Hay]

@Murray You could be right, if we don't see the bears soon then I suspect it will head for $25k

 

[ian]

Historic results show that we've mirrored past halvenings and we might see a strong run up from here, with $250k achievable in the next year or two. I cannot see any major correction outside of a world financial collapse this time around; there are just too many institutions buying as a hedge against failing currencies.

 

[Murray]

@Murray You could be right, if we don't see the bears soon then I suspect it will head for $25k

I'm just trying to predict where there is support/resistance rather than where price will go

20,800-21.5 I'm looking at as being the top for now but we shall see

Maybe we will get a big blow off top at ~$30k before it collapses that would be quite spectacular

 

[twostepsbehind]

With global GDP at $80tn, Bitcoin going to $250k would mean a $4tn market cap i.e. 5% of global GDP - unlikely

 

[Murray]

https://twitter.com/RaoulGMI/status/1339219909356695552

Raoul Pal: I'm about to present The World's Best Trade (aka Bitcoin) to 150 European hedge funds and asset managers. Wish me luck. #wallofmoney

 

[Admin]

I read this yesterday:

Bitcoin is the world’s sixth-highest used currency. It’s used more than the British pound. Its trading volume is six times that of the United States dollar. Cryptocurrency developers and venture capitalists use it almost exclusively. Every other digital coin is compared to it. Bitcoin is the gold standard of cryptocurrency

Read More https://techbullion.com/4-indicators-that-will-drive-bitcoin-price-in-2021/

 

[dee]

20,800-21.5 I'm looking at as being the top for now but we shall see

Maybe we will get a big blow off top at ~$30k before it collapses that would be quite spectacular

I suspect now it'll pop up to top of channel. I was hoping it was going to head down this last touch of the bottom rung for a bit of a reset before the ATH next run up. Either way... not a great place to get in at mo so ill hold off either way. If it pops below the channel could be a bit of a sell off.

 

[dee]

I read this yesterday:

Bitcoin is the world’s sixth-highest used currency. It’s used more than the British pound. Its trading volume is six times that of the United States dollar. Cryptocurrency developers and venture capitalists use it almost exclusively. Every other digital coin is compared to it. Bitcoin is the gold standard of cryptocurrency

Read More https://techbullion.com/4-indicators-that-will-drive-bitcoin-price-in-2021/

Really ? What ...actually used to buy things ? As bullish as i am on BTC that seems unlikely to me somehow that its used more than GBP

 

[Admin]

It doesnt mention buying things.

 

[dee]

It doesnt mention buying things.

Fair enough. It says 'used' more than gbp and traded as separate issues. Figured they meant used as a currency.

 

[twostepsbehind]

On CoinMarketCap, the 24h volume is always around $40bn, so how can it be 6th highest in the world.

Is there another measure they used?

 

[dee]

Out of interest, for all those holding, are you just holding or taking profit and getting back in at any point ? For instance now after an ATH

 

[Murray]

Out of interest, for all those holding, are you just holding or taking profit and getting back in at any point ? For instance now after an ATH

I sold 1/4 of what I have earlier today

Probably far too early but it's nice to remove some risk and I think I'd be more annoyed if it collapsed from here and I didn't take some profit than if it shoots up and I miss out on a little extra money

 

[ian]

Out of interest, for all those holding, are you just holding or taking profit and getting back in at any point ? For instance now after an ATH

Only holding and buying.

 

[Admin]

Hodl... Its going up. Ask a child to look at the graph and ask them what they think is going to happen

 

[Murray]

Hodl... Its going up. Ask a child to look at the graph and ask them what they think is going to happen

They would say it could collapse back at any time

My big issue is with current monetary conditions rather than bitcoin itself

I've looked at what US commercial banks are doing in the h8 data and the answer is

1. not lending
2. buying bonds with low yields
3. low swap rates

Aka tight money - people are hyped on on stimulus and inflation talk in fhe US not looking at real picture

• 40 million people avoiding homelessness only for the fact there's evictions bans, 70 billion in back rent owed
• On top of the unemployed figures there's 13 million people on cares act unemployment scheme that ends this month
• highest level of people seeking mortgage forbearance relief since August
• no student loans have been paid since March, that just got extended until January

I read in August there were 150 billion in deferred loans, what will that be at now

Are these the conditions for sustainable record high bitcoin flying to the moon? nope, sooner or later we will see everything crash like in March with an insolvency crisis

After the next crash will be a good opportunity to buy more btc