Bitcoin Price Thread

They · Mar 5, 2021

johnarb said:
Sorry, thought maybe you were trying to trade bitcoin. Also same as you, not selling (last bitcoin sale was 2 weeks ago but was a planned bitcoin sale)

Since last week, bitcoin has made some violent moves to the downside, followed by slow recovery above $50K. Maxinger has mentioned the record daily bitcoin ranges

My very inexperienced trading opinion is that lots of traders are getting hurt, longs and shorts, probably more longs than shorts

On a broader scale, I believe there are some big money bottom fishers that are providing a nice support $43K-$45K

There's several tweets mentioning the big amounts of bitcoin withdrawals from exchanges. Imho, if a trader is on a losing end of the whipsaws, their bitcoin stash are being scooped up and not coming back for sale

TL;DR, I think we have strong support at $48K, if broken, maybe next support is $46K, I very highly doubt we'll hit $43K again, since much of the supplies are now in cold storage

https://www.bybt.com/LiquidationData

johnarb · Mar 8, 2021

Here I go again about to jinx the nice bitcoin uptrend but...

Today is a risk-off day, 10 yr treasury yield up, FB, AAPL, AMZN, NFLX, GOOG plus TSLA are all down. Even gold is down, and yet.... bitcoin has been trending up! btc above $52K now

Hope btc breaks $60K and next number to hit imo would be $75K

nitrene · Mar 9, 2021

Today was definitely a day of decoupling versus the high growth stocks. Ethereum especially went a lot higher. It was especially interesting since the 10yr rate went higher and the USD went higher as well.

Looks good as a replacement for Gold.

RedDuke · Mar 9, 2021

nitrene said:
Today was definitely a day of decoupling versus the high growth stocks. Ethereum especially went a lot higher. It was especially interesting since the 10yr rate went higher and the USD went higher as well.

Looks good as a replacement for Gold.

during panic last year, look how low cryptos went vs gold. Gold has been here for few millennia and crypto for 10 years. Sure new gold