Bitcoin Price Thread

[long]

Who wants to read bullish news???

https://www.zerohedge.com/markets/m...-accumulated-over-3-billion-bitcoin-15-months

Its not written in the above article, but I remember reading somewhere that everyone is waiting to see which country is the next to announce bitcoin adoption. Many speculate it could be Saudi Arabia or one of these oil producing nations.

And also, just as I was about to ask John what he was gonna do with his MSTR lottery ticket once it pays out big, he mentioned himself that he would buy bitcoin once he starts taking profits. I imagine lots of people are in leveraged plays, myself included given my small exposure to BITX, and all those profits are going to go right back into buying spot bitcoin, or at least the new ETFs which will have to buy on my behalf. So the higher price goes, the more that people will take profits from leveraged plays and drain even more supply.

Has Snowden made his big reveal of which government has been buying BTC?

 

[NoahA]

Has Snowden made his big reveal of which government has been buying BTC?

Oh right..... it was him who tweeted it... you are definitely in the loop!

It might just be Qatar apparently from what I'm reading just now...

 

[The_Krakenite]

Can't it also be a Banana Republic as well? New York has tons of excess tax-payer money to burn, so much in fact that they house illegal immigrants into 5-star hotels... with that kind of cash flying around, might as well buy some Bitcoin for the state of New York as well?

 

[korzes]

Im wondering why they have so much btc in one wallet , I assume they have more wallets , but still seems too much stuff in one basket

 

[Sekiyo]

Bought some OM let's see
Has the best (% from 52W high * % from 52W low) ratio.

Some really cool altcoins out there.
A bit extended though ^^

Bought some ORN also,
Not much volume but why not.
Technically speaking it sounds interesting.

Isn't there an active altcoins thread ?
PEPE gone crazy with huge volume.

 

[The_Krakenite]

Well, I THINK it's the first time I've hit a 20x-Bagger.

BTCC.B call LEAPs I bought for 26 cents last year going for over 5.65 today.

 

[NoahA]

Well, I THINK it's the first time I've hit a 20x-Bagger.

Wow.. well done!

I keep thinking that if the bull market is really here, and some people want to go into alts for the gains, why not just do a leveraged play on bitcoin itself. It seems almost safer. Perhaps not at these prices now, as it would have been better to get in while it was in the 30's and 40's, but if we are going to 100k, and still just below ATH, then its not a bad setup! I am fully prepared for some sort of a pullback at 70k though, but it could also blast through.

 

[long]

I must retract my "available cash" issue. I had failed to transfer my funds to from my Coinbase futures account to the spot account, that's why my cash was unavailable. I just transferred it but might not know if the transaction worked until 10 AM tomorrow. I still don't know why I couldn't use the last $0.05 of USDC when converting to BTC though.

I can complain again! The funds were supposed to be available by 10 AM this morning and they still haven't shown up in my spot account. They also don't show in my futures account, so I guess this is the first time I've had ghost money. I started to contact support and the estimated wait time is over an hour. Yesterday I broke down and bought some spot through PayPal for a serious rip.....but I'm glad I did it.

 

[schizo]

I am fully prepared for some sort of a pullback at 70k though, but it could also blast through.

If my analysis is correct, we should see a pull back from 70k to around 58k-60k and then another leg up to 87k-90k.

 

[NoahA]

If my analysis is correct, we should see a pull back from 70k to around 58k-60k and then another leg up to 87k-90k.

I can understand how this would make sense when trading index futures, but for Bitcoin, if the buying pressure via these ETFs is still there, then there is no way it can retrace. I honestly do think that our models about trading price action will break down at some point when it comes to bitcoin. Bitcoin is not a company so it doesn't need to produce income. There is therefore no metric about what "high" is in relation to revenue or other metrics we might use. If I get nervous at 70k and sell my position in the 2X leverage long, then I will immediately Buy a spot ETF. So I will in fact be even adding more buying pressure.