Bitcoin Price Thread

[vanzandt]

Hey btw lol....
do I get any credit at all for this, aside from Johnny Arb?.
https://www.elitetrader.com/et/threads/bitcoin-price-thread.315402/page-342#post-5421626

It was the ballsiest call of all time when I wrote it.... and I was dead f'n right.
Up near 70%.

You guys wouldn't recognize....
ahhh whatever.
(if it hit ya in the face.)
I'll leave it at that.

 

[vanzandt]

I think I'm going to go with vz on this

That's why you're smart enough to already be a millionaire... and I had nothing to do with that.

 

[johnarb]

Hey btw lol....
do I get any credit at all for this, aside from Johnny Arb?.
https://www.elitetrader.com/et/threads/bitcoin-price-thread.315402/page-342#post-5421626

It was the ballsiest call of all time when I wrote it.... and I was dead f'n right.
Up near 70%.

You guys wouldn't recognize....
ahhh whatever.
(if it hit ya in the face.)
I'll leave it at that.

Sorry vz!

I do remember!, and I was going to mention here but did not want to confuse the on-chain analytics signaling convo with NoahA

Yes, it was perfect call, sir, in the face of may Twitter influencers calling out for $20K and lower and even here from other ET posters

Apologies for not giving credit where credit is due!

 

[vanzandt]

Sorry vz!

I do remember!, and I was going to mention here but did not want to confuse the on-chain analytics signaling convo with NoahA

Yes, it was perfect call, sir, in the face of may Twitter influencers calling out for $20K and lower and even here from other ET posters

Apologies for not giving credit where credit is due!

LOL... Read that again....

This part:.... "Aside from Johnny Arb."

Maaaan..., good golly gravy.... you're a friggin guru at this stuff.
You rule ET on crypto.
And Daal.
I only feel the energy... or lack thereof.
The particular instrument doesn't matter really.
It could be TSLA, RBLX, SNAP, PLTR.... it doesn't matter.
It's the energy one feels that matters.

 

[krugman25]

Are we winning yet?

My $1,900 ETH buys are up almost 100%. My $70 QNT buys are up almost 400%.

 

[johnarb]

Are we winning yet?

My $1,900 ETH buys are up almost 100%. My $70 QNT buys are up almost 400%.

Congratulations, krugman! I'm glad you're doing well

I missed out on so many gains, especially Sol and Terra Luna.

I was looking at Sol when it was 10-14$ but never bought it. I heard about Terra Luna when it was in the $1 which I bought at $21 and sold for a loss at $19, saw it go back down to $5 level but was too chicken to buy it

Overall doing ok, crypto pfolio has recovered nicely from the May-July levels even taking into account this latest flash crash/mini crash we're having

 

[NoahA]

even taking into account this latest flash crash/mini crash we're having

Have you seen any info about this? I would like to think that at this point of maturity for BTC, crashes like this wouldn't happen. I mean its practically trading like a penny stock.

I saw in a video that BTC and other crypto have the huge benefit over precious metals in that its mostly held outside of government control whereas most gold and silver is owned by governments. So would would think with such a distributed ownership model, a drop of 15% would be unfathomable. If it takes so little to move the price on no major news, imagine what can happen when a real hiccup surfaces.

 

[krugman25]

Congratulations, krugman! I'm glad you're doing well

I missed out on so many gains, especially Sol and Terra Luna.

I was looking at Sol when it was 10-14$ but never bought it. I heard about Terra Luna when it was in the $1 which I bought at $21 and sold for a loss at $19, saw it go back down to $5 level but was too chicken to buy it

Overall doing ok, crypto pfolio has recovered nicely from the May-July levels even taking into account this latest flash crash/mini crash we're having

Congrats on the well timed BTC buy! It always feels good improving cost basis on a core position.

I remember SOL sub-$3 and was so in the "Ethereum only" camp that I missed out on it, and BSC, and... everything else.

 

[krugman25]

Have you seen any info about this? I would like to think that at this point of maturity for BTC, crashes like this wouldn't happen. I mean its practically trading like a penny stock.

I saw in a video that BTC and other crypto have the huge benefit over precious metals in that its mostly held outside of government control whereas most gold and silver is owned by governments. So would would think with such a distributed ownership model, a drop of 15% would be unfathomable. If it takes so little to move the price on no major news, imagine what can happen when a real hiccup surfaces.

High leverage tends to causes these crashes. This particular crash wiped out billions in leverage and reset funding rates on a large number of alts that had gotten pretty frothy.

 

[johnarb]

Have you seen any info about this? I would like to think that at this point of maturity for BTC, crashes like this wouldn't happen. I mean its practically trading like a penny stock.

I saw in a video that BTC and other crypto have the huge benefit over precious metals in that its mostly held outside of government control whereas most gold and silver is owned by governments. So would would think with such a distributed ownership model, a drop of 15% would be unfathomable. If it takes so little to move the price on no major news, imagine what can happen when a real hiccup surfaces.

This is out of my league but all I've seen on Crypto Twitter is liquidation of leveraged traders and stops being hit it cascaded down causing the flash crash

Bitcoin will continue to be volatile for a while (imho) and maybe when it hits $1M/btc, it won't be so volatile, who knows

Most bitcoins are not on exchanges but in cold storage or self-hosted wallets and with the invention of wrapped btc's, many bitcoins are now on deposited on defi

Speaking from my own experience, I usually have all my bitcoins in my local wallet, except recently I've decided to leave 3 btc's at Coinbase even though I have no plans to sell them

Anyway, the low amounts of bitcoins available for trading with other crypto assets, buying and selling for US $, contribute to its volatility

https://invezz.com/news/2021/09/07/...-at-one-year-low-biggest-outflow-on-coinbase/


[Technically, there are no bitcoins in wallets. The wallets contain private keys that can sign transactions corresponding to addresses allowing transfer of the bitcoins to another address and recorded on the blockchain, or something like that]