Bitcoins - fad or trend?

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shinnosuke
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Re: Bitcoins - fad or trend?

Postby shinnosuke » Mon Oct 18, 2021

Or do you prefer this?

Screen Shot 2021-10-18 at 17.03.51.png
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cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Mon Oct 18, 2021

I don’t think we will see 10-20k ever again.
Don't be so focused on keeping an even keel that you lose sight of where the ship is headed.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Oct 18, 2021

cmiller17363 wrote:I don’t think we will see 10-20k ever again.


Agreed. I'd argue even higher. Perhaps $28k, where we saw support over the summer, could be the next bear market bottom, or it could be as high as even $40k-$50k. The key metric here is the 200 week SMA. See the chart below, and notice that in the lowest doldrums of the previous bear markets, we normally find support at that level, and we seemingly spend less time there as the market matures. We may wick below, but most weekly candles bounce off of this moving average. Today, the 200 week is at $16,631 and it is moving up quickly; it was a mere $6,940 when the bull market took off in OCT 2020.

By the time we peak, and have a long bear market, the 200 week will likely be much higher, perhaps double where it is today. And of course, there is no guarantee we hit it either. We left it in OCT 2015 and didn't revisit again until NOV 2018. Then more recently, when we left it in FEB 2019, had it not been for the COVID crash wick, we'd still be going strong today over 2.5 years later without hitting it again. $20k again, is statistically highly unlikely.

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Munkish
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Re: Bitcoins - fad or trend?

Postby Munkish » Mon Oct 18, 2021

shinnosuke wrote:Screen Shot 2021-10-18 at 17.01.20.png


I'd be so happy, because I'm so confident in both long-term that I'd just load up more.

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shinnosuke
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Re: Bitcoins - fad or trend?

Postby shinnosuke » Mon Oct 18, 2021

Munkish wrote:
shinnosuke wrote:Screen Shot 2021-10-18 at 17.01.20.png


I'd be so happy, because I'm so confident in both long-term that I'd just load up more.


Ether at $300? I'd start selling my children to raise cash for the purchase. What's the market price for a 29 year old son with his own business?

Zef
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Re: Bitcoins - fad or trend?

Postby Zef » Tue Oct 19, 2021

check out this chart: https://stats.buybitcoinworldwide.com/stock-to-flow/

perhaps the bear market will be in the 100s until 2024 :duck:

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joefro
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Re: Bitcoins - fad or trend?

Postby joefro » Wed Oct 20, 2021

btc.png
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cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Wed Oct 20, 2021

I guess this bull cycle is going to end up being more like 2013 than 2017 after all.
Don't be so focused on keeping an even keel that you lose sight of where the ship is headed.
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joefro
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Re: Bitcoins - fad or trend?

Postby joefro » Wed Oct 20, 2021

When this thread was started, 1 BTC was worth about $140. Roughly 1/10th of an ounce of gold. I remember most people being of the mindset that it was crazy to think 1 BTC could ever be worth more than 1 oz gold.

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Silversaving
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Re: Bitcoins - fad or trend?

Postby Silversaving » Wed Oct 20, 2021

joefro wrote:When this thread was started, 1 BTC was worth about $140. Roughly 1/10th of an ounce of gold. I remember most people being of the mindset that it was crazy to think 1 BTC could ever be worth more than 1 oz gold.

I remember posting on this thread sometime in '17 when 1 BTC surpassed 1oz of gold and thinking how far it had come. Now? I can get a bag of 1 oz gold coins for a BTC. Lord only knows what it will buy 5-10 years from now. Welcome to the digital age.
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300Braveheart
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Re: Bitcoins - fad or trend?

Postby 300Braveheart » Wed Oct 20, 2021

joefro wrote:btc.png


The devilnacci retracement level! :twisted:
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Oct 20, 2021

Silversaving wrote:
joefro wrote:When this thread was started, 1 BTC was worth about $140. Roughly 1/10th of an ounce of gold. I remember most people being of the mindset that it was crazy to think 1 BTC could ever be worth more than 1 oz gold.

I remember posting on this thread sometime in '17 when 1 BTC surpassed 1oz of gold and thinking how far it had come. Now? I can get a bag of 1 oz gold coins for a BTC. Lord only knows what it will buy 5-10 years from now. Welcome to the digital age.


Specifically, you can get a bag of 36.5 ounces of gold for 1 BTC. My target goal was 50 though. Time is on our side.

The question though becomes, what is the more profitable sale/action: do I earn 5.5% APY on PAXG (gold) with Celsius and let the gold spot price (hopefully) appreciate? Or am I better off selling right to USDC (fiat) and make 8.8% APY on that?

The way gold has been performing, it seems like the higher APY with USDC might be the play?
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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Thu Oct 21, 2021

Good Interview :thumbup:

The U.S. dollar 'as we know it' will be dead in 10 yrs, bitcoin price to hit $2 million in 5 yrs
11,654 views Oct 20, 2021

A monetary system collapse is coming, and the trigger will be raging inflation, said Lawrence Lepard, Equity Management Associates managing partner.

"We've reached peak debt and peak money printing as a solution to our problems. The growth of the money supply has almost gone vertical", Lepard told Michelle Makori, editor-in-chief of Kitco News. "And this is how inflation, which could become hyperinflation, get started."

The system is broken and needs a reset, Lepard stated, noting that the U.S. dollar "as we know it" will collapse during this decade.




:duck:
"SAUSAGE FLAVORED MEAT PELLETS, GRADE D BUT EDIBLE"
"Better 1 or 2 years early than 1 day late"
1 Gram =0.032150747 Troy Ounces
1 Kilogram =32.150747 Troy Ounces
1 Troy Ounce =31.103477 Grams

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IdahoCopper
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Re: Bitcoins - fad or trend?

Postby IdahoCopper » Thu Oct 21, 2021

When BTC is $2 million, a loaf of bread will cost $25,000, or more.

Why measure anything in future-defunct USD?

The real measure will be, "How many pre-64 silver dimes will one BTC buy?"

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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Fri Oct 22, 2021

Walmart is selling Bitcoin using Coinstar? Crypto mass adoption is here!
7,604 views Oct 22, 2021

Walmart is selling Bitcoin? Crypto mass adoption is here! With Walmart allowing Coinstar machines that sell bitcoin to their customers you will see huge buying pressure from new people that "try their luck" buying $20.00 worth of bitcoin for the first time. then they will be hooked!
https://www.zerohedge.com/crypto/walm...


"SAUSAGE FLAVORED MEAT PELLETS, GRADE D BUT EDIBLE"
"Better 1 or 2 years early than 1 day late"
1 Gram =0.032150747 Troy Ounces
1 Kilogram =32.150747 Troy Ounces
1 Troy Ounce =31.103477 Grams

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Oct 23, 2021

Financial and Real Estate millennial millionaire Graham Stephan actually has a conservative, yet smart crypto strategy. Buy BTC & ETH.

The best risk-adjusted ratio is 65% BTC, 35% ETH. Good luck out there!

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Munkish
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Re: Bitcoins - fad or trend?

Postby Munkish » Sat Oct 23, 2021

SilverDoge wrote:Financial and Real Estate millennial millionaire Graham Stephan actually has a conservative, yet smart crypto strategy. Buy BTC & ETH.

The best risk-adjusted ratio is 65% BTC, 35% ETH. Good luck out there!



You can always buy the BED index. It's one token but it's like an index fund with an equal mix of BTC, ETH, and DPI (DeFi pulse index).

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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Tue Oct 26, 2021

Bitcoin price is about to go parabolic, but towards $100k or $20k? Soloway and Grummes
38,023 views Oct 25, 2021

Bitcoin is about to see another major breakout after surpassing its previous all-time highs, but will the price move to the upside or the downside?

David Lin, anchor for Kitco News, hosts a discussion with Florian Grummes, managing director of Midas Touch Consulting, and Gareth Soloway, chief market strategist of InTheMoneyStocks.com at the Future Blockchain Summit in Dubai, to talk Bitcoin price forecasts for the short-term, long-term, and inflation hedges.

0:00 - Bitcoin price projection
9:26 - Asset allocation
16:49 - Bitcoin as a store of value
18:51 - Inflation
24:30 - Central bank digital currencies
25:19 - Will Bitcoin be the best asset in 2022?


"SAUSAGE FLAVORED MEAT PELLETS, GRADE D BUT EDIBLE"
"Better 1 or 2 years early than 1 day late"
1 Gram =0.032150747 Troy Ounces
1 Kilogram =32.150747 Troy Ounces
1 Troy Ounce =31.103477 Grams

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shinnosuke
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Re: Bitcoins - fad or trend?

Postby shinnosuke » Tue Oct 26, 2021

grantwoodisgold wrote:Bitcoin price is about to go parabolic, but towards $100k or $20k? Soloway and Grummes
38,023 views Oct 25, 2021

Bitcoin is about to see another major breakout after surpassing its previous all-time highs, but will the price move to the upside or the downside?

David Lin, anchor for Kitco News, hosts a discussion with Florian Grummes, managing director of Midas Touch Consulting, and Gareth Soloway, chief market strategist of InTheMoneyStocks.com at the Future Blockchain Summit in Dubai, to talk Bitcoin price forecasts for the short-term, long-term, and inflation hedges.

0:00 - Bitcoin price projection
9:26 - Asset allocation
16:49 - Bitcoin as a store of value
18:51 - Inflation
24:30 - Central bank digital currencies
25:19 - Will Bitcoin be the best asset in 2022?




I feel incrementally smarter after watching that. Thanks for sharing, Chris.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Nov 02, 2021

I do love a good meme/hype video. Wall St Bets & Bitcoin combine forces to take on our evil overlords!

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