Bitcoin Price Thread

[schizo]

Dream on... Mt. gox is about to distribute it's coins. $40K is coming next

this is a bull trap that can be seen from a mile away

The problem between you and other HODLs on this thread is that all of you only see things in black and white, namely that Bitcoin can only go up to $10 million, otherwise $0. But there are many shades of gray in the market, so wake up and smell the rotten coffee once in a while.

 

[schizo]

This time I'm not buying in, the moves were too fast for my liking.
Hoping it will pullback. If it doesn't then no matter as plenty more fish in the sea.

Mickey, all that it matters in the market is the right timing. And that timing is now. Sure, there will be pullbacks in the future but I don't think we'll be seeing another trip below 60k anytime soon.

 

[themickey]

Mickey, all that it matters in the market is the right timing. And that timing is now. Sure, there will be pullbacks in the future but I don't think we'll be seeing another trip below 60k anytime soon.

100%
But I was looking at BITO, IBIT, CRYP.AX ETFs, they had these massive (imo) gap ups which makes me believe there is a high probability that at least half the distance of those gaps will fill. So I'll wait for that.
Should that not happen then I've missed the boat but no big deal.

When I see sharp reversals instead of a base being laid, that implies to me too many eyes are watching the stock, too much FOMO, so often this pattern fails as a long term move.
Just my theories.

 

[schizo]

Dream on... Mt. gox is about to distribute it's coins. $40K is coming next

this is a bull trap that can be seen from a mile away

cointelegraph.com
Bitcoin back above $65K as traders shake off Mt. Gox BTC transfers

Traders ignored the news that Mt. Gox transferred billions of dollars in BTC and instead focused on pushing Bitcoin price above $65,000. As earlier reported by Cointelegraph, analysts believe that the Mt. Gox repayments may not be as bad for BTC as they have already been priced in, explaining the current bullishness in Bitcoin markets.

Bitcoin price marches toward $66,000
Bitcoin price is displaying resilience with 3.2% gains over the last 24 hours amid billions of dollars worth of coins leaving the cold wallet linked to defunct exchange Mt. Gox.

While some analysts appeared to ignore BTC’s return above $65,000 given fears of Mt. Gox-induced sell-side pressure, traders are optimistic about a sustained recovery for Bitcoin.

Bitcoin “price currently trending toward actual spot supply between $66K and $70K,” asserted popular analyst Skew in a July 15 post on X.

Meanwhile, Michael Van de Poppe, founder of MN Capital, noted that although Mt. Gox is getting ready to redistribute 180,000 BTC to its creditors, Bitcoin is on the move, adding that the news will have little impact on the price.

 

[orbit23]

Contrary to common belief, the Mt. Gox tokens have not yet been distributed...

They've only been sent to Kraken and kraken has yet to start the distributions. They also have to send to Bitstamp and some to individual creditors (i think).

 

[nitrene]

These constant 10% gaps don't make sense to me. BTC trades like an illiquid biotech stock on the OTCBB not like a commodity that has the backing of BlackRock & Fidelity. I guess the actual trading float is very low similar to how regional banks trade or a stock where most of the shares are owned by a few people.

It is still very strange. I guess the fact that it didn't implode today is a positive although it seems to now track the IWM (RTY on the CME).

 

[schizo]

Contrary to common belief, the Mt. Gox tokens have not yet been distributed...

They've only been sent to Kraken and kraken has yet to start the distributions. They also have to send to Bitstamp and some to individual creditors (i think).

As I said already, wake up and smell the rotten coffee!

cointelegraph.com
Over 36% of Mt. Gox Bitcoin distributed to creditors, but whales keep accumulating

Bitcoin whales continue accumulating, despite the potential sell pressure from Mt. Gox creditors.

Over one-third of the Bitcoin owed to defunct creditors of the Mt. Gox exchange has already been distributed, but large Bitcoin holders continue their buying spree unfazed.

 

[johnarb]

These constant 10% gaps don't make sense to me. BTC trades like an illiquid biotech stock on the OTCBB not like a commodity that has the backing of BlackRock & Fidelity. I guess the actual trading float is very low similar to how regional banks trade or a stock where most of the shares are owned by a few people.

It is still very strange. I guess the fact that it didn't implode today is a positive although it seems to now track the IWM (RTY on the CME).

10% move on BTC is over $6k, I don't see these moves regularly, I saw a post on Twitter that btc is less volatile than Nasdaq stocks

btc trades 24/7/365 worldwide, there are no gaps on Coinbase or Binance or Bitmex

 

[schizo]

10% move on BTC is over $6k, I don't see these moves regularly, I saw a post on Twitter that btc is less volatile than Nasdaq stocks

btc trades 24/7/365 worldwide, there are no gaps on Coinbase or Binance or Bitmex

Practically, $72K is a given at the moment IMO. We'll likely see some turbulence between $72 and $74 but, if my analysis is correct, we should be able to jump over it.

 

[orbit23]

I wouldn't dare to say the pump is definitelly not happening... Because Tether is sending USDT to all exchanges to prop up the prices.

For the love of god i hope that they do not succeed.