Bitcoin Price Thread

[vanzandt]

There are a lot of ET folks getting ready to short CME bitcoin futures Load up, boys! All you can eat.

https://www.marketwatch.com/story/bitcoin-under-shadow-of-death-cross-chart-pattern-2018-03-16

Ya know... I understand BTC is a different animal.... but when the 50 crosses the 200 heading south..... at least in stocks.... it triggers a bunch of stuff. Right or wrong.... it friggin does.

I just looked at a current quote on BTC.... $7890.
This one will be fun to watch.

 

[Cuddles]

From the personal stories department:

"I like the guy on /r/personalfinance that sold in December last year to net himself over $120,000, never paid short term capital gains taxes, then poured all of it into nonsense altcoins which this year crashed his holdings to $30,000. Now he's bewildered the IRS tells him he owes $50,000 on that $120000 gain he thought they just wouldn't notice.

In other words he took his life savings and in about a year turned it into -$20,000"

Could always carry over the losses for a few years

 

[ehorn]

There are a lot of ET folks getting ready to short CME bitcoin futures Load up, boys! All you can eat.

https://www.marketwatch.com/story/bitcoin-under-shadow-of-death-cross-chart-pattern-2018-03-16

That would make sense. The herd is always on the wrong side...

 

[Pekelo]

Could always carry over the losses for a few years

That wasn't the point of the story. You have to put away from profits for taxes.

Anyhow we have a price meltdown, 7.5K and falling.

 

[Pekelo]

So I was wondering, if the crypto market is so thin, couldn't a HF with relative small account (maybe 10 mm) push the price up and down while making a killing in a futures account? I am thinking the pushing up and down would be done with a break even or even a small loss, but the futures side would be hugely profitable.

What would be the counter argument against doing this?The only thing is if whales can not move the market, but the evidence shows that they clearly can...

 

[schweiz]

 

[lovethetrade]

Cryptos are getting absolutely hammered. Ether is down to $470.

Twitter is now banning ads.

According to the Internal Revenue Service, anything purchased using a digital currency is liable to be taxed as a capital gain

 

[Humpy]

Ashes to ashes

 

[schweiz]

According to the Internal Revenue Service, anything purchased using a digital currency is liable to be taxed as a capital gain

It is clear that all countries will have to do something similar. If not they all will lose huge amounts of taxes. Crypto's are generating a huge black market. Besides of a criminal market.

 

[Pekelo]

That 50 and 200 days crossover is one of the most lagging indicators I ever seen. We are already down 65% from ATH by the time that gets bearish. Not to mention the last time it crossed it bounced back in no time.