$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

I don't wanna hear about these annoying spirit animals at all tbh, feels like useless boomer-speak.

Maybe whales can stay: I like Star Trek IV.
 
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Nice breakout yesterday and today, as we cross $52,500. Some of this is El Salvador buying coins; they bought 200 today.

As I noted when we crossed $50K for the first time last week: there is very little resistance above $51.5K. If El Salvador buys more today (they say they plan to), and tomorrow's $30 purchases on social media in solidarity is big enough, $60K will be here before October. As we stand now, we are about 32% up from my first alert in this thread seven weeks ago.

As for "bulls" and "bears", whales can be bulls or bears too. It is a shorthand way of saying "more buying than selling" or vice-versa. It does matter, of course. And the old model of nerd whale 18-year-olds controlling the Bitcoin supply is fast becoming obsolete as institutional investors take on bigger pieces of the pie. There isn't a stock on the NYSE that isn't similarly dominated by "whales". You just have to understand whale psychology and read the news to know which way the wind is blowing.

For those on the sidelines, I would pray for a pullback before jumping in unless you have a longterm view and are willing to buy, hold, and wait for six digits. I wouldn't try any flipping games in this environment.
 
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Dutch Courage said:
And the old model of nerd whale 18-year-olds controlling the Bitcoin supply is fast becoming obsolete as institutional investors take on bigger pieces of the pie.
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What a stupid model, CIA, CCP and the ghost of Satoshi always were the main holder.
 
Two consecutive alerts for BTC dropping 5% in a 24 hour period.

Is this chinks offloading cause of worry of Evergrande? Is it everyone doing it for the same reason?
 
Polyboros2 said:
Two consecutive alerts for BTC dropping 5% in a 24 hour period.

Is this chinks offloading cause of worry of Evergrande? Is it everyone doing it for the same reason?
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who knows.

But it would make sense if some people need liquidty because evergrande is going tits up.
 
CharlesBarkley said:
Best time to buy imo. Gotta do the El Salvador lyfe.
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China is about the crash the crypto Market, the Asian debt market is going to seize and that could take out USD Tether and really bring the red dildo. There was already correction pressure before this Evergrande shit started to hit. Now? We could see BTC in the 20s unless China gets its house in order.
 
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An Avenging Bird said:
Is it odd that I get such a deep thrill every time this thing collapses when all the moon fags are shouting for it to pump?
The amount of "when lambo" millennials who haven't contributed shit to society and get rekt into oblivion just hits me at the perfect spot.
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Yes, it is odd to be bad at grade school level math.

1Y USD +285.4%
 
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Dutch Courage said:
$60K will be here before October.
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Well, I guess my prediction was off by two weeks, nobody's perfect... The delay was primarily thanks to utter faggotry in China (to wit, Evergrande Group becoming near-insolvent, which also sent the stock market reeling, and the ban on all cryptocurrency activity, which threw a wrench in the works but didn't change anything fundamental). However, China's loss will be the rest of the world's gain, and it is fun to see China miss the boat for once.

While that hiccup slowed down the inevitable, here we are at last. This new push over $60K is thanks mostly to the SEC's decision yesterday not to oppose futures-driven ETFs from trading next week, but we had been creeping back to the high 50's for the past month anyway. And that puts us up 50% since July 29th, when I posted that we were about to break out of the three-month doldrums since the "crash". Anyone who bought near the top of the last great run-up is back in the green now.

The next order of business is to recapture the all-time high of $64.8K, which will be sooner rather than later.

From there, I will leave it to the imagination. But I am a firm believer that the world will behold the massive power of dwindling supply and exponential demand over the next few months and into the next two years. It will be a lot more intense than even a lot of optimists predict, Whoever compared Bitcoin to pink sheet stocks upthread missed a crucial element: stinky pinkies are massively dilutive; that will never be a factor with Bitcoin.

Congrats to longs who held and added during the May-July slump and to all those who got in prior to this year. Not that they really need congratulations; the bottom line ought to be cheering them up all by itself right now. Keep a strong hand and don't invest more than you can afford to lose. And don't listen to nitwits like me; do your own due diligence.
 
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