Bitcoins/Litecoins/Virtual Currencies

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Furry

Furry

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Arden said:
FBI recovering Bitcoin that was used as payment in a ransomware attack shouldn't be causing FUD... Quite the opposite. Cash paid in these situations is almost never recovered, yet they managed to recover the BTC because:

1. BTC isn't some diabolical tool that allows bad guys to get away with things they couldn't get away with using cash.

2. The immutable ledger and transparency of BTC actually makes it easier to trace/follow than other forms of payment.

Both of these things should make BTC MORE attractive to governments, not less.
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Real governments don’t want btc, they want something they control, and on top of that a large portion of people using btc are bad guys that do want to get away with things.

I’m leaning toward this being extreme user error on the end of the thieves, but I definitely can see how this will rattle the cage, because the FBI should not have had a chance to recover with even a semi competent effort by the culprits, yet they have.
 
swayze22

swayze22

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Furry said:
Real governments don’t want btc, they want something they control, and on top of that a large portion of people using btc are bad guys that do want to get away with things.

I’m leaning toward this being extreme user error on the end of the thieves, but I definitely can see how this will rattle the cage, because the FBI should not have had a chance to recover with even a semi competent effort by the culprits, yet they have.
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anyone who doesn't already know everything Arden said, 100% doesn't own bitcoin worth any significant amount IMO or they were simply just YOLOing for some quick gains.

being a good "hacker" doesn't mean you are a good "criminal" or good at anything else. The same way I don't ask my mechanic to reroof my house.

governments only want control, of resources and the narrative. always.
 
Caliane

Caliane

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eth tanking now too. rough. things were looking so good.

Idk, guess maybe when I win $300k in doge, xfering it to Eth immediately will be even more cost effective.
 
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Flobee

Flobee

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Relax pals, this run isn't done yet. Last week has had a ton of incredibly bullish news. Short term price movements are not important if you have conviction in what you're buying. If you're flipping shitcoins to make a quick buck... godspeed.
 
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Arden

Arden

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Haus said:
So which price does BTC hit first? $25k or $40k?
Click to expand...

Absent the whole death cross thing I'd say 40k, but apparently the death cross is serious chart juju. It sucks too because I finally caught a dip (e.g. right now) when I was prepared to buy but now I'm finding myself cautious.

I have zero doubt BTC will be 50k+ and ETH will be 4k+ within a few months (max), but I don't want to buy now if we are going to get a death cross soon.
 
Flobee

Flobee

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Interesting article by a "political economist", whatever that is, about the implications of the El Salvador announcement.

 
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Tmac

Tmac

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Looks like BTC, ETH, and DOGE are all entering into a squeeze. Depending on how tight the Bollinger Bands get the signal coming out of the squeeze will be a clear up or down... BTC is the only one that looks like it's about to drop below the low. When and if it does it's a sign that the price is going to continue to decline.

btc.PNG


eth.PNG


doge.PNG
 
Sanrith Descartes

Sanrith Descartes

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If you are bullish, this is the bottom of the trough and it should bounce from here. If you aren't bullish you are praying this line of support holds.
Saint Maud GIF by A24
 
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Flobee

Flobee

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So I don't know the details for each country but El Salvador isn't alone in government officials pushing for Bitcoin. We'll see who actually makes moves...

Paraguay
Argentina
Panama
Brazil
Nicaragua
 
Sanrith Descartes

Sanrith Descartes

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Flobee said:
So I don't know the details for each country but El Salvador isn't alone in government officials pushing for Bitcoin. We'll see who actually makes moves...

Paraguay
Argentina
Panama
Brazil
Nicaragua
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El Salvador actually uses the US dollar as its official currency. The BTC thing could be a way to move around the massive deflationary shit the Fed is doing with the dollar. Most of the others on that list use the US dollar as widely as they do their own national currency.
 
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Haus

Haus

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Sanrith Descartes said:
El Salvador actually uses the US dollar as its official currency. The BTC thing could be a way to move around the massive deflationary shit the Fed is doing with the dollar. Most of the others on that list use the US dollar as widely as they do their own national currency.
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Countries the size of Russia can move away from the dollar by just reducing/eliminating it from their treasury holdings. Countries that use the USD move away from it by either embracing another country's currency, or moving to crypto. The latter also confers independence from another countries central bankers affecting you as much. In that regard it makes some sense.
 
Sanrith Descartes

Sanrith Descartes

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BTC chart. Nothing much has changed since it is below all the moving averages, Its all about the January support level. $31027, $31275 and $31,030. Nothing but air below this January support line. It has been continuing to make lower lows on each of these tests of the bottom. The 10 and 20 DMA are now down in the 36k range which is creating overhead resistance. The longer it stays down here the harder it will be to break back upwards.

or.. I am totally wrong.

1623158216931.png
 
Haus

Haus

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I love seeing these people claiming we're already in phase C of a Wyckoff accumulation trend, somehow completely ignoring that these things take a timeframe measured in MONTHS. Personal bet, we're still in phase E of Distribution, entering phase A for accumulation. This would mean look for a BTC bottom around $24k-25k a retest to around $40k tops, then back to $24k. And this playing out until around Aug/Sept timeframes.

Desperately hope I'm wrong, since by normal models BTC bear runs have lifespans and that means we won't be to the good part of accumulation until right as, or after the bear market expiration date.
 
Sanrith Descartes

Sanrith Descartes

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BTC sub-32k.


Stimulating Matthew Mercer GIF by Hyper RPG


edit: Bounced slightly at $31,600.
"$31027, $31275 and $31,030."
 
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Arden

Arden

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Haus said:
I love seeing these people claiming we're already in phase C of a Wyckoff accumulation trend, somehow completely ignoring that these things take a timeframe measured in MONTHS. Personal bet, we're still in phase E of Distribution, entering phase A for accumulation. This would mean look for a BTC bottom around $24k-25k a retest to around $40k tops, then back to $24k. And this playing out until around Aug/Sept timeframes.

Desperately hope I'm wrong, since by normal models BTC bear runs have lifespans and that means we won't be to the good part of accumulation until right as, or after the bear market expiration date.
Click to expand...

We are dropping below support lines though. Phase A for accumulation has us bouncing off support, not dropping below. I keep hearing we have been in phase B of accumulation. We drop below upper support lines in Phase B, and then dip down below the lower support in Phase C, before springing back up.

By that rationale, if we are moving into Phase C of accumulation, we will see a dip down into the low 20's, followed by a huge upsurge. Or am I reading the chart wrong?
 
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