Can Bitcoin sustain over the $6000 mark?
 

Your thoughts?

No... Theres no buyers...compare the last 3 bottoms and rebounds...lower and lower interest...multi year bear imo...

Anyone made solid cash betting against BTC in the options market?

I'm all in on cc but certainly not btc. let the serb give himself several heart attacks and then stroke out day trading it for pennies.

I hope so, I bought some

smooth jazz and price action aint no stress...

Price pressure has been largely due to forced selling (liquidation of MtGOX BTC by the trustee).

This pressure has been exacerbated by the (unjustified) strength in the US dollar resulting from the threats of trade wars that are manifesting. (Short analysis is that rising tariffs raises prices on goods throughout the economy. Rising prices = inflation by definition. Inflation is typically combated with higher interest rates. Higher interest rates = stronger currency).

The flaw in the market's interpretation is that the Federal reserve cannot raise interest rates significantly to combat this artificial inflation because there is too much systemic debt. An increase of 1% in the Fed Funds rate will translate to ~$200 billion in annual cost of debt service just by the US government. Households will lose ~$1 trillion per year. Therefore, the dollar strength is based on a false assumption that the Fed will raise interest rates by up to 4 or 5% to combat the inflation caused by a World Trade War. I don't believe they will make that error.

If the Fed does not raise interest rates, inflation will skyrocket. In that case, BitCoin is going to act like the new Gold. In a high inflation environment, people will rush to inflation hedge assets. Gold typically skyrockets in that environment. Bitcoin is easier to buy and transact than physical gold.

Therefore, I predict that while in the short-term, BTC is floundering at around the $6,000 USD level, in the long term, it will be a go-to asset for people hedging hundreds of billions of dollars against inflation. It may resume the parabolic moves we saw last year and hit new all time highs.

Much depends on whether China, the EU and NAFTA result in real trade wars or if parties back down and cave to Donald.

No mention of the allegations that Tether has been propping up the price of BTC with "freshly printed" USDT?

that argument is very old and invalid anymore https://www.coindesk.com/tether-revi...-theres-catch/

newest ruling seems to be giving most of the mtgox btc holdings back to their users in early 2019

so hopefully those mtgox dumps have to stop :thumbsup

As per the article, that's a stronger argument for USDT being properly backed, but it's not an official audit.

ya that's why i posted it, the situation is not going ignored by anyone. But most accusers top argument is only "i just dont believe they can have THAT much money in their bank"

that is a terrible argument :2 cents:

It looks like it is stabilizing quite a bit. Looks good so far. Poised for nice bump up?

I do not buy the mtgox trustee story causing BTC to crash...why would anybody dump such a large amount of coins and get slippage when they can do it OTC and retain the value?...

still surviving at $6k

I've just gone long on XRP. :Oh crap

Interesting move.

I was buying physical gold and silver with bitcoin in January. Win win.

Rush of blood to the head :thumbsup

OTC still crashes the price with Bitcoin. Because everyone can see Mtgox moving Bitcoin into position for selling, and causes panic. No matter how they sell it, via exchange or OTC :2 cents:

Bitcoin is too transparent, maybe it's only flaw right now.

You really want it to move down to 2k and than back up again. That's the magic resistance that has never been tested for support. If it holds BTC may move up again like a spring loaded rocket.

what a great time to wipe out the longs

another dip coming IMO


BTC longs:
https://www.tradingview.com/x/3LyYY3YZ/

July = bitcoin over 8 k.

:thumbsup:thumbsup:thumbsup

Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero (Bloomberg)

What's amazing is, even with this massive dive, the current Bitcoin price is more than 2x what it was this time last year at this time :)

81% are scams with 50 million+ market cap who are these suckers? Please tell me 600 X 50,000,000 wasn't invested and that these were nominal capitalizations


https://preview.ibb.co/gndumd/mostcoinsarescams.jpg

"I don’t think we found the killer app yet," said Arieh Levi, an analyst at CB Insights. "It just seems like there’s been a lot of projects tried, but there aren’t really many users of blockchain protocols beyond speculators and traders."

Next version will be the killer

That graph is bullshit, unless they post specific data. And if they're so bold to bust out those numbers means they should have that data, can you link us please? if they didn't already post it, then they are bullshit imo

:1orglaugh:1orglaugh:1orglaugh NOPE

you sound smart, so what's your prediction for July?

Market Cap = Total Coins x Market Price
Market Cap doesn't include the coins that insiders have at a fraction (if anything) of the cost that the public pays through ICOs and also doesn't include market appreciation or depreciation.

Example: There are 1M coins, currently trading at $50, so $50M market cap. Insiders own 900K coins at $0. 100K coins are sold to suckers through an ICO at $100, raising $10M. At the ICO, market cap was $100M, even though only $10M was invested. The current market cap, post ICO, lost $50M from a drop in the price.

Never mind

Oh my. I was searching for you in what threads we're teaching teh nabs how to do it. Did you catch it today ? Aw man. I went from 5800 to 6200 in few hours. Cool 7% without moving a finger. Man. I just call my man to buy me few miliion btc's for a cool percentage in few hours. This money. I think i'm going to start a gfy campaign of feeding the poor with all the money im catching in.

He saw this pump coming from a mile away. Probably already made out with an even 10%.

Bitcoin jumped $600. It's at $6,455 right now.

so you're telling us that crucifissio's constant 1-sided prediction and TA charts are wrong? :1orglaugh

:1orglaugh:1orglaugh:1orglaugh:1orglaugh

it is amusing to me that you are not capable of setting an alarm like I did yesterday at 6000, an obvious break out level, and just follow the action...I did almost 4% yesterday with BCC in 5 minutes and had to go to sleep...

let me know if you have questions I would be happy to help you out :thumbsup

Cmon bro. ITS ME YOU'RE TALKING TO. We baller bros. We set alarms all over the place. You betcha i set the alarm. I set like 10 alarms.
I'm a bit dissapointed with 4%. You need to set alarms better since i got a sweet spot 7% before going to bed, however, after the rush i had to go search for another estate to buy.
We're setting alarms to oblivion ma man.

how do you manage to lose? :1orglaugh:1orglaugh:1orglaugh

I mean theres 2 ways the price can go, up or down...if you are in TUSD or USDT you can never miss the drops and if you set an alarm you can never miss the pumps...

what do you do to fuck it up? :1orglaugh:1orglaugh:1orglaugh

bytecoin is my new "pumper"...so far I have been using EOS, NEO and BCC but did not have the balls to use bytecoin....it did 30% in the last 24 hours and has behaved the same in the last couple of pumps....any crypto rally and bytecoin is the one you want to be in :2 cents::2 cents:

You're preaching to the choir man. Exactly what you said. HOW DO THEY MANAGE TO LOSE? HOW? It's so simple man, up or down. You set the alarm and you're in cash. It boggles my mind as well brosepski. Boggles my mind!
I agree. I'm still riding the alarms set on TUSDTPFZVZBTCC man. I have too much money on my hands i hired 5th accountant now to handle all the crypto money that's been pouring in. I don't get it how can anyone lose. ALARMS PEOPLE, ALARMS.

Here, let me google that for you.

https://deadcoins.com/

ok so you're including all coins, even the ones that never get launched or hit Coinmarketcap, even the ones never listed on exchanges

6300 and going strong.

Guess what I did folks? I bought BTC when it was at $5800 and then sold it when it was at $6300. So let's see, let's do the math here....

Yeah, rocket science.

Buy any mid - high cap on the contrarian method usually work wonders. CMC page 1 biggest losers if negative 25%+ buy... or if holding on same rise.. dump it!

Would It be nice to go back to the 4000 dollar mark?

Thatd be great , apparently $5k is around the area many large institutions would jukp into BTC. Altho i dont think we can hit that low soon.

Haha , bizo!!

No, that # would be way over 1000. The list above of about 800 is coin with market cap of *50m or above*. Now we all know that "market cap" at the scam level only means a few suckers bought tens of thousands, but some of them apparently sold millions worth before going belly up.

such a smart guy like you should know the answer :-)