Bitcoin pushing $70k... - Page 7

buckbrush · #**181** 05-14-2021, 09:13 PM

How long until crypto becomes a common currency in day to day transactions?

I've recently started dabbling just to get a hang of the buying/selling as it was pretty overwhelming at first. A few days watching Youtube and reading made it a lot easier. It's not nearly as intimidating as I thought.

I'm not ready to bet the farm on it but, it's some interesting stuff.

bdub · #**182** 05-16-2021, 08:58 PM

Starting to sound like Musk dumped his Bitcoin. Also new news that China’s cracking down.
Big drop today, BTC/USD $44500.

ehrgeiz · #**183** 05-17-2021, 11:47 AM

Yeah, rough times indeed.

The events of last week could well be the top of this cycle, but maybe not as it was past due for a significant pull back anyway. Should be an interesting week, but I'm not convinced this bull cycle is through...

buckbrush · #**184** 05-17-2021, 07:29 PM

I don't have enough to make any notable impact on my financial situation but dang do these fluctuate!! I've followed them and looked at all the charts but when its real money you watch a lot closer. I'm used to watching stocks that change a couple percent here and there. One of the crypto I bough was down 18% the first time I checked then the next day up 40% then back down 15% today.

I don't know if my brain could handle the stress of having a large amount of money invested in these. Sure fun to play with so far though.

So far I am on Ethereum and BSC but I also picked up some Bonfire and FEG just for fun.

troutbug · #**185** 05-17-2021, 08:22 PM

Quote:

Originally Posted by buckbrush

I don't have enough to make any notable impact on my financial situation but dang do these fluctuate!! I've followed them and looked at all the charts but when its real money you watch a lot closer. I'm used to watching stocks that change a couple percent here and there. One of the crypto I bough was down 18% the first time I checked then the next day up 40% then back down 15% today.

I don't know if my brain could handle the stress of having a large amount of money invested in these. Sure fun to play with so far though.

So far I am on Ethereum and BSC but I also picked up some Bonfire and FEG just for fun.

Does not take alot of money, I started 2 years ago. Turned $25 into over 6k over time.

Ken07AOVette · #**186** 05-17-2021, 08:35 PM

lots of people crying the blues after a $20g dump.
So many think it will climb again, and are buying.
Crazy

fishtank · #**187** 05-17-2021, 08:43 PM

Quote:

Originally Posted by Ken07AOVette

lots of people crying the blues after a $20g dump.
So many think it will climb again, and are buying.
Crazy

that $20g is from bitcoin profit , a lot of the money are playing with the profit.

mooseknuckle · #**188** 05-17-2021, 09:41 PM

Quote:

Originally Posted by fishtank

that $20g is from bitcoin profit , a lot of the money are playing with the profit.

X2 hurts alot less playing with house money.

350 mag · #**189** 05-18-2021, 01:50 PM

Think of Bitcoin as a fledging "growth story".

Forget the voalitity and noise day by day....Month by month.

Forget "get rich quick".

Buy $10,000 worth, lock it in....set it and forget it.

I looked at Bitcoin alot over past few years since 2011.

In 2010-2011 I watched alot of Max Keiser....and he was pounding the table for his viewers to buy BTC.

I thought in 2011 it was $1.75 USD and I was thinking of it as a currency like the the Euro or CAD. I thought it was allready fully valued.

Had I listened to Max then I would be multi millionaire now.

I put alot of money in Gold and Silver and enjoyed alot success until the rug got pulled out from under us in 2013....I spent years licking my wounds over some Gold names that went in the basement.

As far as Bitcoin I didn't have the funds to get involved.

I then really didn't pay attention until spring of 2017. When it was $1500...and was peaking alot of interest.

Then I thought it's too late....as it was allready pretty high.

Instead I bought 40 ETH because I really liked and was intrigued by "Smart Contracts".

I was estatic when I sold that in 2018 for $23 k profit.

Now that same ETH would have been $140,000 USD.

Now last April Ii decided to get back in after watching a few videos by Alex Machinsky and Celsius Network and I was hooked on his idea and impressed by his resume.

I bought BTC @ 10k and CEL @ .30 cents.

The ONLY way I will be worried is if Bitcoin drops below $29,000 USD.

In 12 years the Logryhtmic chart shows BTC in a long term uptrend. It has its boom and bust cycles but the long term trend line is up, and it has NEVER fallen below the previous Bull cycle highs.

If it goes below $20k USD then the long term trendline will be broken.....and it's likely on its way to zero....maybe in favour of a new coin? I don't think this is going to happen....

In short.

Buy the dips....and HODL!

buckbrush · #**190** 05-18-2021, 04:16 PM

I picked up some Matic Token....After less than a day I'm already thinking to sell. Haha. Should have bought more but with my luck it would then crash.

bdub · #**191** 05-18-2021, 05:20 PM

There have been numerous bubble throughout history and they all start develop and burst the same way. I am pretty convinced that Bitcoin is a bubble in the process of popping but who knows. It certainly has all the hallmarks of it. The denial by many investors that it could possibly be a bubble and take appropriate risk control is one of them. They go down with the ship.

More news today about China cracking down on payments and transactions in crypto.

fishtank · #**192** 05-18-2021, 06:13 PM

Quote:

Originally Posted by bdub

There have been numerous bubble throughout history and they all start develop and burst the same way. I am pretty convinced that Bitcoin is a bubble in the process of popping but who knows. It certainly has all the hallmarks of it. The denial by many investors that it could possibly be a bubble and take appropriate risk control is one of them. They go down with the ship.

More news today about China cracking down on payments and transactions in crypto.

Crypto market cap is a little over $2 trillion that’s about the the gdp of a country rank in the 6-8 place in the world. That a lot of money tied up in crypto IOU’s .

bdub · #**193** 05-18-2021, 07:10 PM

Quote:

Originally Posted by fishtank

Crypto market cap is a little over $2 trillion that’s about the the gdp of a country rank in the 6-8 place in the world. That a lot of money tied up in crypto IOU’s .

It is.

I thought the last dump was the bubble popping. This time around I think may be. Governments are cranking up the regulation rhetoric, the $2 trillion has gotten big enough that they realize that they need to shut it down before its downfall will cause serious economic fallout. They environmental impact of mining it using energy from "dirty coal" in China is gaining attention. The use of it to fund terrorism, sex trafficking, money laundering etc. is another excuse to shut it down that governments are going to use. What they are really scared about is giving up their control over their countries currency, being replaced by cryptos. All governments fear this and wont allow it collectively.

bdub · #**194** 05-18-2021, 08:50 PM

Indian banks smell the end.

https://www.coindesk.com/indian-bank...ile-to-crypto?

buckbrush · #**195** 05-19-2021, 07:24 AM

Well, the crypto sure took a hit last night.

It looks like a little more than a dip in my rookie mind but lots of the long term guys are talking about buying more now.

Crazy to watch.

DiabeticKripple · #**196** 05-19-2021, 07:48 AM

Yikes good thing I didn’t put too much in, I still have some cash sitting there waiting to be used. I think I’ll ride this out a bit before deciding what to do.

fishtank · #**197** 05-19-2021, 08:30 AM

Damn like a rock ... bitcoin is down close to 20%

ehrgeiz · #**198** 05-19-2021, 08:40 AM

Welp, maybe the bull run is done haha.

In times like this, I like to look at the obits.

https://99bitcoins.com/bitcoin-obituaries/

fishtank · #**199** 05-19-2021, 08:52 AM

Quote:

Originally Posted by ehrgeiz

Welp, maybe the bull run is done haha.

In times like this, I like to look at the obits.

https://99bitcoins.com/bitcoin-obituaries/

The hodl is less painful if it don’t cut into the initial capital . If anyone brought couple months back at the peak, they might not be hodl-ing now . Unless they are one of those hardcore yolo folks . Seriously at times like these you either want to throw in jail for like 5 year and don’t have access to it and might come out as a millionaire

JB_AOL · #**200** 05-19-2021, 09:24 AM

Yep.. I was late the the game, but I'm hodl'ing as crypto isn't going anywhere, and if history is a sign, it will come back stronger than ever.

bobtodrick · #**201** 05-19-2021, 10:03 AM

Gotta admit, if I'm going to gamble with my money a week in Vegas is a heck of lot more fun.

bdub · #**202** 05-19-2021, 10:26 AM

The big guys aren't HODLin. From CNBC.

Also hearing that cryto exchanges are getting nailed with heavy volume and having issues. Rough day for some people. Probably a few folks ready to string Elon up.

Institutional investors are dumping bitcoin in favor of gold, reversing a recent trend that’s played out over the last two quarters, according to a new report from JPMorgan.

Based on open interest in CME bitcoin futures contracts, the firm said large investors are shifting away from bitcoin after favoring the digital currency over gold beginning last fall.

“The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors,” JPMorgan wrote in a note to clients. “Over the past month, bitcoin futures markets experienced their steepest and more sustained liquidation since the bitcoin ascent started last October.”

Jayhad · #**203** 05-19-2021, 10:33 AM

My hodlings are still positive and I'm going in for another $10,000 at least today.

DiabeticKripple · #**204** 05-19-2021, 06:20 PM

Well I’m down nearly 45% already haha.

HODL until things improve! Makes a guy want to double down.

Map Maker · #**205** 05-19-2021, 11:02 PM

One thing I just noticed is that every crypto currency is down (almost exactly) 40% from one month ago. How is that even possible when you have bitcoin worth $40k and fegcoin worth 0.00000005c?

Also all of the dramatic rise was in the last month, was it due to Elon musk buy or was it the YouTube showing people how to buy crypto.

Interesting but stinks pretty bad.

fishtank · #**206** 05-21-2021, 09:01 AM

Looks like China want to squeeze the local miners .... that might cause a little shock to the network .

bdub · #**207** 05-21-2021, 09:31 AM

Quote:

Originally Posted by fishtank

Looks like China want to squeeze the local miners .... that might cause a little shock to the network .

That on top of the announcement out of the IRS yesterday on reporting transactions.

Chinas may ban it outright by the looks of it.

Pretty interesting watching this unfold.

bdub · #**208** 05-23-2021, 08:45 AM

What happened overnight that caused Bitcoin to hit below 33000 USD?

fishnguy · #**209** 05-23-2021, 10:41 AM

Probably just the continuation of things that happened prior and expectations of the future. Probably because of the general sentiment too:

Funny how “analysts” call it consolidation because it surely looks like free fall for the time being. It first needs to find support in order to consolidate, which it yet hasn’t. In fact, it flew right through even the major ones. It doesn’t look good at the moment.

BTC:

ETH:

fishtank · #**210** 05-26-2021, 06:57 AM

This is a pretty good detail piece on the QuadrigaCX

https://newsinteractives.cbc.ca/long...driga-cx-death