Bitcoin Price Thread

It seems like BTC has done better than gold as a hedge to the central planners. I bought some GBTC back in November 2017 and recently some of the Ethereum, Litecoin & BCH products from Grayscale.

They seem to all move in tandem but do you know what dictates their use case scenario?
 
Courtesy of Blockfolio on twitter:

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They said:
$20K Thanksgiving so everyone can talk about it over dinner?
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Yea, that would be a good thing, we got a couple of days
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Some of my friends are already talking to me about bitcoin, but they're not buying, just surprised it's gone up so much
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Sprout said:
Maybe, it’s what a majority are thinking. A whale swinging large converting those tight short stops into market orders could give another leg up.
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Yes, or a big whale could sell past 20k making us plummet down to last support. It's exciting and scary. I'm out of a position right now waiting to see what happens. If we blast past 20k and stay above then I will probably buy back in
 
Trader Curt said:
Yes, or a big whale could sell past 20k making us plummet down to last support. It's exciting and scary. I'm out of a position right now waiting to see what happens. If we blast past 20k and stay above then I will probably buy back in
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What I'm getting from Twitter is that the price move has been driven by unrelenting buying from GBTC, Square and PayPal (SQ and Ppal both account for more than 100% of daily mined coins purchase equivalence).

That suggests to me that it's less price-sensitive vs 2017 fomo moves, when some people got sucked into the mania blowoff top and were buying whole coins after borrowing from their mortgages. The current retail buying are fractional btc's i.e. 100 shares of GBTC or $1000 worth of btc on paypal/square, etc with the backdrop of some wall street investors making sizable buys persuaded by Paul Tudor Jones and Stanley Druckenmiller commentaries as well as JPM and Fidelity.

That narrative matches what we've seen so far on the bitcoin price action, hardly any dip, staircase upwards move, now above $19K, but again, I have no charting skill which helps me during these times, I have no more anxieties now at this price level than a few months ago when btc was much lower.

This has been an orderly bull market, I see $20K as a nothing burger (imho) btc will pass through it.
 
johnarb said:
What I'm getting from Twitter is that the price move has been driven by unrelenting buying from GBTC, Square and PayPal (SQ and Ppal both account for more than 100% of daily mined coins purchase equivalence).

That suggests to me that it's less price-sensitive vs 2017 fomo moves, when some people got sucked into the mania blowoff top and were buying whole coins after borrowing from their mortgages. The current retail buying are fractional btc's i.e. 100 shares of GBTC or $1000 worth of btc on paypal/square, etc with the backdrop of some wall street investors making sizable buys persuaded by Paul Tudor Jones and Stanley Druckenmiller commentaries as well as JPM and Fidelity.

That narrative matches what we've seen so far on the bitcoin price action, hardly any dip, staircase upwards move, now above $19K, but again, I have no charting skill which helps me during these times, I have no more anxieties now at this price level than a few months ago when btc was much lower.

This has been an orderly bull market, I see $20K as a nothing burger (imho) btc will pass through it.
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True, but 20k is going to be major resistance. It's probably the biggest resistance point Bitcoin has ever faced, and the fact that we haven't came close to touching 20k in 3 years means that's it's going to be a major resistance level. Just one thing to keep in mind.

You could also be right and we could blast past it, but I think there will be some kind of resistance before we break though it.
 
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