BTC $500k, ETH $42k, ChainLink $1,400

[s0mmi]

This post might be the sign of the intermediate top of this cycle......LOL

When BTC was $3,500 in January of 2019 , I was telling everyone publicly that you need to go all-in and Bitcoin is going to $180k

And every month I would say to go all-in, it was met with skepticism

Which is very welcome because if everybody agreed with me, then I'd agree its a top signal

There are a lot of counter-players right now. Nobody believes my $300k-400k BTC target , nor my Ethereum $42k target , and this is a positive thing for the bulls

 

[s0mmi]

@Ed48 The governments somehow have also started recognising that Bitcoin is going to be our future and they have no other option than to accept it. I am just curious to see what big steps they are going to take to take things under their control.

Most likely it will be "over regulation" scares, which is met with people threatening to vote them out

And then they move their bias over to the middle and we meet somewhere in between

this is normal for every regulated industry.

people haev been telling me that Bitcoin will be banned before it ever gets to $20k, back in 2019. and i kept saying that Regulation means the opposite of Banning, so its bullish.

anyway it doesnt really matter, words are just words, im still long & strong and i hope everyone else is too. people will naturally miss out and fomo at the top after everyone else does too

 

[RedDuke]

You got to understand bro.. the Tether fud is very recycled and used to scare new people. I used to be a Tether Fudster too, back in 2019 I thought Tether was going to send us all to zero. Then I did proper research and discovered Simon Dixon + Max Keiser are early investors in them and they answered "subtle" questions on stream once saying that Tether Fud is not justified etc. etc. Coming from guys who own more than 10,000 BTC each... it packs some weight

But evn if you didnt believe Max Keiser + Simon Dixon, you have to remember that Binance uses Tether (USDT) a lot. Binance make more money than Deutsche Bank, theyre hugely profitable, and they own like $400M in the U.S. Bank just to cover their $400M USDT worth. So its pretty much backed for Binance.

A billionaire like CZ (ceo of Binance) would not gamble on his baby Binance start-up if the Tether fud was real.

Tether is losing market share to USDC btw.

I personally believe that most of the USDT fud is CoinBase + Circle (the guys who made USDC) .. because I think the "Fed Digital Dollar" control will use USDC primarily.. they obviously want to control the whole crypto market in the future and hence they want all pairs to be BTC/USDC , and not BTC/USDT , so they can have way more power

A lot of politics and stuff but it doesnt really matter. We were hearing Tether Fud when BTC was $6k back in 2017, and then end of 2018 ... and now BTC is back at $50k. Michael Saylor doesn't need Tether, and the Bitcoin ETF won't need Tether either, and Apple + Amazon + Tesla don't need Tether ... so its not wise to spend time thinking about it as a risk (yet)

I have read about all their arguments. But simple facts are facts, Tether represents 70% of daily volume, it is backed by nothing (for the post part). 65 billions were created and being used to pump the whole crypto system over and over.

Huge congrats to you to get in at those levels. I missed it all because of knowing too much. Dealing with regulated financial markets, I would have never imagined such giant fraud would be allowed to get bigger and bigger.

No idea where it will end or how. The whole crypto system can be reduce to niche rather easily if main world powers decide to do what China did.

Until then gravy trains keeps on rolling..

 

[Specterx]

I have read about all their arguments. But simple facts are facts, Tether represents 70% of daily volume, it is backed by nothing (for the post part). 65 billions were created and being used to pump the whole crypto system over and over.

Huge congrats to you to get in at those levels. I missed it all because of knowing too much. Dealing with regulated financial markets, I would have never imagined such giant fraud would be allowed to get bigger and bigger.

No idea where it will end or how. The whole crypto system can be reduce to niche rather easily if main world powers decide to do what China did.

Until then gravy trains keeps on rolling..

It's pretty clear at this point that stablecoin issuers are going to come under some kind of regulation. Probably sooner rather than later, as there's no doubt substantial pressure from Wall Street interests who want to sell more crypto products, and probably also from banks and other entities worried about exposure.

These days and at these prices, the risk of fraud is much less important to long-term returns compared to the risk that crypto just sort of fades in popularity and undergoes a 20-year bear market, as did gold after 1980. At some point, reservation demand (for BTC) or transaction-use demand (for ETH) needs to take over from get-rich-quick speculative demand, which at the moment is the vast overwhelming majority.

 

[jocrape]

Most likely it will be "over regulation" scares, which is met with people threatening to vote them out

And then they move their bias over to the middle and we meet somewhere in between

this is normal for every regulated industry.

people haev been telling me that Bitcoin will be banned before it ever gets to $20k, back in 2019. and i kept saying that Regulation means the opposite of Banning, so its bullish.

anyway it doesnt really matter, words are just words, im still long & strong and i hope everyone else is too. people will naturally miss out and fomo at the top after everyone else does too

There are no doubt clear chances of regulation, instead of banning. Blockchain has the potential to make a lot of things easier so there’s no use banning a technological advancement like that but the government can’t let it free for people to use it in their own way without any restrictions.

 

[virtusa]

There are no doubt clear chances of regulation, instead of banning. Blockchain has the potential to make a lot of things easier so there’s no use banning a technological advancement like that but the government can’t let it free for people to use it in their own way without any restrictions.

The huge majority of crypto fans are wrong: Blockchain does not need bitcoin, bitcoin needs blockchain! Without blockchain, bitcoin would even not exist as it powers their network.

Blockchain was invented long before bitcoin was created by Satoshi.
So the blockchain argument pro bitcoin is fake.
Just like the argument that payments got cheaper by using bitcoins. They are more expensive and number of transactions that can be managed are a multitude smaller than the existing systems. So they have a very small capacity compared to for instance creditcard companies. And they use huge amounts of energy.

Criminals like this one use bitcoins.
https://news.usni.org/2021/10/10/fb...eer-wife-accused-of-selling-submarine-secrets

 

[s0mmi]

We are still on track. Bitcoin and Ethereum looking juicy to lead the way. Crypto is extremely life changing and its very, very, very easy to retire off it

All you need to do is spend 5 minutes researching stuff yourself and buy and hodl and not touch it. You can turn $10k into $1.0M very easily in Crypto, just hodl

next stop BTC $100k

 

[s0mmi]

i made a chart for all my friends & family to see .. where are still nowhere near the sell zone

more info like this on my twitter ; www.twitter.com/yourfriendsommi

hodl !!

 

[rolando87]

I think the fact that everyone is saying btc 100k makes me think it won't reach there. Same thing happened last year with gold. Once it broke 2k, everyone was saying next stop 3k. It's quite possible we won't see 100k in this round, maybe we see a break to 65 or 70, then it will collapse under the weight of the weak holders that got suckered into this "sure thing" to 100k.

I'm starting to sell chunks of my holdings.

 

[s0mmi]

I think the fact that everyone is saying btc 100k makes me think it won't reach there. Same thing happened last year with gold. Once it broke 2k, everyone was saying next stop 3k. It's quite possible we won't see 100k in this round, maybe we see a break to 65 or 70, then it will collapse under the weight of the weak holders that got suckered into this "sure thing" to 100k.

I'm starting to sell chunks of my holdings.

i share the same concerns but i am 100% convicted it will get to 100k although i am willing to wait forever. i think its an extended lengthened cycle and will drag on into 2022 to fulfill its prophecy