Bitcoin Price Thread

Everybody's talking about BTC, but ETH should definitely worth more, I think. Who knows, one day it might worth more than BTC. :) Bitcoin is a mania and it could probably function as the digital gold if it's backed by trust. Anyway, I'd rather use Monero as a "digital cash". But I think Ethereum could really change the world if it succeeds and it's on the right path to do that...

The vast majority of serious/professional investors are hostile to crypto. They reflect the conventional wisdom. The beliefs of the professional investor class matter far more than retail. It's going to be a process and my guess is that more and more pros will use cryptos (most likely only the TOP ~5) in their porfolios once they realize that it can improve the risk adjusted returns of a conventional portfolio. IMHO, this is underestimated and cold boost the prices further.
 
iron33 said:
Everybody's talking about BTC, but ETH should definitely worth more, I think. Who knows, one day it might worth more than BTC. :) Bitcoin is a mania and it could probably function as the digital gold if it's backed by trust. Anyway, I'd rather use Monero as a "digital cash". But I think Ethereum could really change the world if it succeeds and it's on the right path to do that...

The vast majority of serious/professional investors are hostile to crypto. They reflect the conventional wisdom. The beliefs of the professional investor class matter far more than retail. It's going to be a process and my guess is that more and more pros will use cryptos (most likely only the TOP ~5) in their porfolios once they realize that it can improve the risk adjusted returns of a conventional portfolio. IMHO, this is underestimated and cold boost the prices further.
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My biggest issue with Bitcoin is the fact that Bitfinex can just create USD tethers, with no control on how many, and then use them to purchase Bitcoin. Look at timing of the raise, right after they were exposed as fraud and not backed by USD 1 for 1. Remove tether and Bitfinex, let Cryptos be purchased with real $, then let's see where the price will move. Like any other asset in the world.
 
RedDuke said:
My biggest issue with Bitcoin is the fact that Bitfinex can just create USD tethers, with no control on how many, and then use them to purchase Bitcoin. Look at timing of the raise, right after they were exposed as fraud and not backed by USD 1 for 1. Remove tether and Bitfinex, let Cryptos be purchased with real $, then let's see where the price will move. Like any other asset in the world.
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So, are you saying that markets are manipulated? omg, who woulda thunk? So, let me get this straight, after 10 years of QE and trillions of $ printed to prop up the US Stock Markets, the bond markets, the real estate markets and every known market globally, you're concerned about little, tiny bitcoin market being manipulated? lol

When the bitcoin price is going down, it's not being manipulated, right? Only when it goes up. What a joke
 
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johnarb said:
So, are you saying that markets are manipulated?
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There is a difference between manipulation (whales dumping and buying, cornering the market) and pure, old fashioned, Mt. Gox type cheating.

But as long as it goes your way, who cares, right?
 
Pekelo said:
There is a difference between manipulation (whales dumping and buying, cornering the market) and pure, old fashioned, Mt. Gox type cheating.

But as long as it goes your way, who cares, right?
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Please quote one of my crybaby posts whining about "manipulation" during the 2018 bear market in bitcoin when bitcoin was constantly selling off?
 
This bitcoin move is rather parabolic. I'm expecting a short term correction to the $8k or $9K+ region.
But FOMO is something that is hard to predict and people may just pour in money senselessly and bring up the price and higher.
 
iron33 said:
Everybody's talking about BTC, but ETH should definitely worth more, I think. Who knows, one day it might worth more than BTC. :) Bitcoin is a mania and it could probably function as the digital gold if it's backed by trust. Anyway, I'd rather use Monero as a "digital cash". But I think Ethereum could really change the world if it succeeds and it's on the right path to do that...

The vast majority of serious/professional investors are hostile to crypto. They reflect the conventional wisdom. The beliefs of the professional investor class matter far more than retail. It's going to be a process and my guess is that more and more pros will use cryptos (most likely only the TOP ~5) in their porfolios once they realize that it can improve the risk adjusted returns of a conventional portfolio. IMHO, this is underestimated and cold boost the prices further.
More...

BTC has limited supply.
ETH has unlimited supply.

Even though BTC gets the headlines and ETH is the workhorse, the circulating supply is one of the main reasons why such a disparity in price between the two.

This might change if/when ETH transitions to a new consensus algorithm but there is inertia to keep this from happening by entrenched interest of the status quo.
 
HolyGrailSeeker said:
This bitcoin move is rather parabolic. I'm expecting a short term correction to the $8k or $9K+ region.
But FOMO is something that is hard to predict and people may just pour in money senselessly and bring up the price and higher.
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Anything is possible, but I saw post on Twitter alluding to some futures pricing in $15K in the near future. I just briefly saw something about a WSJ article as being the source but couldn't find it. Who knows how "true" it is...
 
RedDuke said:
Spoke to someone who is "in the know". According to him real volume are almost non existent. Had it not been for Bitfinex and tether, it would indeed be below 3k, as it should have when the news broke out that tethers is basically a fake. The moment this came out, Bitcoin started a parabolic move up propped up by tethers. Bitfinex can create any amount of tethers out of thin air and prop up bitcoin with them, essentially 1 Bitcoin is currently worth 12,823 tethers.

Would be curious to hear if anyone here tried to cash out large amounts of Bitcoins and withdraw funds to their bank accounts. How it went?
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It doesn’t address your issue with tethers but is an attempt to mitigate ‘fake’ volume in crypto.

https://openmarketcap.com/exchanges/faq
 
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