It is starting to seem like our little friend is inclined towards resuming traveling upwards? bouncing around $7,200 as I type.

An interesting development from a few hours ago is that Bitfinex is claiming to have pretty much met their target and to have raised $1 billion to "fight the good fight" and to offset their stolen or confiscated funds.

https://twitter.com/paoloardoino/status/...1218254851

It's most likely that it double tops at around 7500 but if it doesn't it's going to 9k. If that happens I think I lot of wild valuations can happen for the price before next year's halvening.

As I write this the AUD has just sunk below 70¢ USD (0.6971 USD). Fiat is the true shitcoin.

(05-13-2019 09:41 AM)[email protected] Wrote:  It's most likely that it double tops at around 7500 but if it doesn't it's going to 9k. If that happens I think I lot of wild valuations can happen for the price before next year's halvening.

As I write this the AUD has just sunk below 70¢ USD (0.6971 USD). Fiat is the true shitcoin.

I am getting the sense that the upwards price pressure continues to remain too strong for a $7,500 double top, and like you said the next resistance is around $9k-ish.. or at least I would frame the next possible turning around point as being in the $8k to $10k arena...

i would be damned shocked as fuck, if BTC does not get at least a 30% price correction before going beyond $10k - but with bitcoin, who the fuck knows? There is an ongoing past practice that shows numerous instances in which bitcoin shoots way beyond expectations (in either price direction), and this could be one of those cases in which there is a kind of front-loading of the anticipated upwards BTC pressures that comes from both the halvening and the increased expected financialization of bitcoin.

In other words, in spite of some guys trying to naysay bitcoin, fundamentals do remain strong as fuck in terms of sound money and ongoing censorship resistance that comes through both hash power and prudent development that is coupled by increasing advancements on the lightning network, too. The implementation of segwit has really been kicking the ass of a lot of the competition, even though the competition (to the extent that there arguably is any?) does not hesitate to bash on segwit.. while their clocks are being cleaned by bitcoin in terms of actual substance behind any ability to deliver something of concrete value to society.

Whoaza!!!!!

If this is not BTC punishment mode, then what is?

I get the sense that there have been too many margin short positions that have been expressing a kind of desperation to bet against bitcoin, and they must be punished and they are fueling the outrageousness of this continuing upwards price movement..

In other words, within a few minutes, the BTC price has just shot past $7,585 and to $7,870. Surely, it remains unclear whether this kind of price is sustainable in the short term, but I am quit confident that such a quick upwards price move did take a decent toll on r3cking quite a few more margin shorts (largely on bitfinex and bitmex, even though there could be some other exchanges, as well).

This is madness! Crazy volatility now...

As for the adoption side, great news:
http://fortune.com/2019/05/13/bitcoin-co...-currency/
I am curious to see how high the fees are and how custodial the solution is gonna be, but this might be a game changer.

User acceptance testing for bitcoin futures custody and trading planned for July by Bakkt.

https://medium.com/bakkt-blog/bitcoin-fu...aiUuGGb3hA

Anybody buying here?

I'm thinking about throwing in 5k. Feels like FOMO and it is but bitcoin is not like other assets. This thing could run to unimaginable numbers or it could crash, or both. I started DCA at 3500 BTC but it was just a few hundred and I bought more and more through 4k, 5k, 6k, 7k but it was always just a couple hundred and some of it went to alts.

Honestly, I've been watching and bashing bitcoin since late 2012. 2013 I was a little interested then it ran up too fast and I just assumed it was a bubble. Then summer 2015 I was on the lazy side and didn't put the energy into googling how to buy it though I had made plans to. After that it went up and I once again assumed I missed the boat. I played around in 2017 and made a couple thousand but nothing big. I don't plan to trade around this time, at all.

I want exposure to this and that was my goal when I started buying back in February. Since I started paying attention in early 2008 I have believed that governments are screwing us with monetary policy and that Gold/Silver would be big beneficiaries, and maybe they will. Seems bitcoin is doing gaining trust by the day and could really explode over the next decade.

It is hard allow myself FOMO into things. I learned this lesson so many times with other assets over the last decade. I will be upset if it drops immediately, not because I am afraid of losing a few hundred/thousand dollars but because I have already learned not to FOMO into assets.

I guess this turned into a big ramble. Just some thoughts. So, anyone buying here?

Binance withdrawals and deposits should be re-opened again tomorrow, should be interesting.

(05-13-2019 08:44 PM)Jaydublin Wrote:  Anybody buying here?

I'm thinking about throwing in 5k. Feels like FOMO and it is but bitcoin is not like other assets. This thing could run to unimaginable numbers or it could crash, or both. I started DCA at 3500 BTC but it was just a few hundred and I bought more and more through 4k, 5k, 6k, 7k but it was always just a couple hundred and some of it went to alts.

Honestly, I've been watching and bashing bitcoin since late 2012. 2013 I was a little interested then it ran up too fast and I just assumed it was a bubble. Then summer 2015 I was on the lazy side and didn't put the energy into googling how to buy it though I had made plans to. After that it went up and I once again assumed I missed the boat. I played around in 2017 and made a couple thousand but nothing big. I don't plan to trade around this time, at all.

I want exposure to this and that was my goal when I started buying back in February. Since I started paying attention in early 2008 I have believed that governments are screwing us with monetary policy and that Gold/Silver would be big beneficiaries, and maybe they will. Seems bitcoin is doing gaining trust by the day and could really explode over the next decade.

It is hard allow myself FOMO into things. I learned this lesson so many times with other assets over the last decade. I will be upset if it drops immediately, not because I am afraid of losing a few hundred/thousand dollars but because I have already learned not to FOMO into assets.

I guess this turned into a big ramble. Just some thoughts. So, anyone buying here?

Of course, guys have to figure out their own path.. and comfort level. Surely, you seem to recognize the problematic nature of your current approach, and the fact that currently, you do not feel that you have dollar cost averaged in a sufficient enough way over the past year or so.

Personally, I think that you can develop a dollar cost averaging plan with your $5k.. or whatever other cashflow that you have. You gotta figure out your situation. If you remain nervous, then just put about 1/3 of that $5k into bitcoin in around the current price which would be - about $1,600 as an immediate buy, dollar cost average with the second 1/3 for the next few months and use the final 1/3 to attempt to buy on dips (if any).

In the end, you have to figure out your own cashflow, but if you are dollar cost averaging, you should be able to set various accumulation goals, and by the time you reach those accumulation goals then maybe you become less aggressive because you have already established your accumulation stake..... whether that is 1% of your total investment portfolio or 10% or some other allocation that is comfortable for you.

I don't know what you can do about your FOMO tendencies except to attempt to create a reasonable plan that makes you sufficiently comfortable with attempting to follow the plan no matter BTC's short term price direction.. so for example, part of your funds you buy once a week no matter what, the other part, you take an initial decent stake and the other part you try to buy on dips.. and then just attempt to keep with your plan or some variation of what I mentioned for a couple of years.. or however, long it takes you to establish your stake and your comfort... which you can tweak along the way, too.

Personally, it took me about a year throughout 2014 to establish my initial stake in BTC, and mostly, I did not screw around with altcoins... except for a couple of initial divergences.. , so with the passage of time, I because less and less nervous about having a sufficient amount of bitcoin, and thereafter I have continued to dollar cost average with smaller amounts (and less nervousness about having enough BTC)..

I will admit that when I was first attempting to accumulate, in those earlier stages, I would get FOMO feelings about whether I had enough BTC, but after I had continued to accumulate BTC for a decent amount of time, I become more and more used to the long term nature of my investment, then FOMO feelings became less and less.

Currently I don't tend to get FOMO feelings in either price direction because I feel that I have a sufficient and adequate stake that is tailored to my own financial situation, my views of bitcoin, my risk tolerance and my timeline.

Of course, currently there are possibilities of violent BTC price performance in either direction, so I am not sure about what to say about that except that you should attempt to plan and prepare for either price direction, especially in the shorter term.

(05-13-2019 08:44 PM)Jaydublin Wrote:  Anybody buying here?

I'm thinking about throwing in 5k. Feels like FOMO and it is but bitcoin is not like other assets. This thing could run to unimaginable numbers or it could crash, or both. I started DCA at 3500 BTC but it was just a few hundred and I bought more and more through 4k, 5k, 6k, 7k but it was always just a couple hundred and some of it went to alts.

Honestly, I've been watching and bashing bitcoin since late 2012. 2013 I was a little interested then it ran up too fast and I just assumed it was a bubble. Then summer 2015 I was on the lazy side and didn't put the energy into googling how to buy it though I had made plans to. After that it went up and I once again assumed I missed the boat. I played around in 2017 and made a couple thousand but nothing big. I don't plan to trade around this time, at all.

I want exposure to this and that was my goal when I started buying back in February. Since I started paying attention in early 2008 I have believed that governments are screwing us with monetary policy and that Gold/Silver would be big beneficiaries, and maybe they will. Seems bitcoin is doing gaining trust by the day and could really explode over the next decade.

It is hard allow myself FOMO into things. I learned this lesson so many times with other assets over the last decade. I will be upset if it drops immediately, not because I am afraid of losing a few hundred/thousand dollars but because I have already learned not to FOMO into assets.

I guess this turned into a big ramble. Just some thoughts. So, anyone buying here?

Im buying. I am throwing loose cash at it every week.
I came to similar conclusions. Our governments are fucking us. I need to have a cash supply independent of the US. Everybody needs a passport and bugout money in case this country shits itself and it very likely will in a couple of years or less.

What's the general feedback on binance? I know they were hacked recently, but the exchange seems to have a pretty good rep otherwise.

Over $8,000 now. I imagine this feels a bit like riding a 50ft wave for the first time, exhilarating but scared shirtless you're about to get wiped out any moment. Steady!!!!!!!!!!

(05-14-2019 01:38 AM)Trumpian Wrote:  What's the general feedback on binance? I know they were hacked recently, but the exchange seems to have a pretty good rep otherwise.

Over $8,000 now. I imagine this feels a bit like riding a 50ft wave for the first time, exhilarating but scared shirtless you're about to get wiped out any moment. Steady!!!!!!!!!!

Binance is the most legit exchange out there outside Coinbase rep-wise, also one of the biggest.

I want to buy some too but don't want to buy the top, price should correct before going up. Then again, BTC is recently not following the rules of TA. 6200 was supposed to a massive resistance but it broke through easily.

Too bad I didn't have some spare cash few weeks ago. Now, just now I have some spare money, but buying BTC right now idk man.
I also got rekkt on all my Altcoin positions. My stomach is turning and turning but hey, I can still pay my bills, still save some cash, everyday I become closer and closer to become location independent, so I guess it could be worse.

Do you think that most Altcoins will pump afterwards?

(05-14-2019 04:42 AM)RomSh5 Wrote:  I think BTC will go down to about US$2.5k to US$3k and stay there for quite a while. Currently I've been heavily into Cryptocurrency and Bitcoin Tracking, just try to keep myself informed. To survive in the crypto world, it's important to research long and hard.

Between February and November 2018, bitcoin made a large number of attempts to meaningfully break below $6k, and it was unsuccessful, so by the time that it decisively broke below $6k in mid-November 2018 and could NOT really get movement back up, that caused a lot of folks to conclude that clearly bitcoin had transitioned from a bull market to a bear market (at least in the short term - even though some folks were prematurely and erroneously asserting that bitcoin was in a bear market prior to its breaking below $6k support in mid-November 2018).

So, yeah, we spent a good 4 months dabbling in $3k prices, and so during that time between December 2018 and March 2019, we were likely in a bear market, which largely means that the odds for the BTC price to go down were greater than the odds for it to go up... and therefore the current local bottom of $3,122 was not secure or certain as being the bottom.. and also, therefore, predictions of further down were not only reasonable but had decently high (at least greater than not) of playing out.

Price movements after April 1 have largely established that not only are we likely to b out of the bear market, but that the bottom is in.

Accordingly, any BTC price predictions of going below $3,122 are in the minority, and accordingly, it is going to be quite difficult to get down to $3,122 or lower absent some real significant negative event, or some successful and convincing FUD spreading.. which also seems a stretch under current market conditions.

Since you are new here, and you did not really back up your comments with any kind of meaningful facts or logic, I have some difficulties taking you seriously, yet I don't find it problematic to address those kinds of bitcoin bearish scenarios from time to time.

Many of us realize that in any market, including bitcoin, of course, the trend is your friend, and even though trends are a product of both degrees of price movement and time, our current bitcoin price trend seems to have reverted to UP. Your conclusory assertion seems to be relying upon some phoniness in this transition, which might have some amount of truth, and/or that our current upwards price movement does not have enough buy support backing it.

Surely, I have both asserted and conceded that 30% plus BTC price corrections are normal and nearly inevitable, even in what appears to be a bull run (or a bull market), and surely such a large BTC price corrections can come at times that are somewhat unexpected in the short term, and even could bring BTC prices that correct down to 50% or more (especially short term), but from our current BTC price top of $8,335, a 50% price correction still does not break us into $3k prices - furthermore, this upwards BTC price movement might not be over, yet, which means that prices could get to $10k or even to $12k and beyond before a decent and meaningful price correction takes place.

Long and short of it, is that you seem to be in a fantasy land of wishful thinking when you are suggesting $3k and below prices under current BTC price dynamics... I am not saying that your projected prices are not possible, but surely the odds of such prices are below 40%, and perhaps more reasonably below 30%, so your expression of them as a kind of certainty comes off as a bit "out there."

I made the mistake of getting out at low 5ks
I re-entered my positions in low 7ks...

That is like 20%+ of gain. Opportunity cost of thousands of dollars..

From now on, I am buying MORE when the market dips and just not going to sell anything next few years..

(05-14-2019 09:14 PM)bgbusiness Wrote:  I made the mistake of getting out at low 5ks
I re-entered my positions in low 7ks...

That is like 20%+ of gain. Opportunity cost of thousands of dollars..

From now on, I am buying MORE when the market dips and just not going to sell anything next few years..

Did you sell everything at low 5ks? Or just a smaller portion?

Cryptos are not stuff to short or to sell to make a quick buck...

Everyone has made their fair share of bad trades. Will you care about all the potential gains you missed out on after you cash out retirement money

Alt season seems to be in play. I'm going to keep DCA in BTC. Hopefully we see a pullback. I'd really like the summer to DCA in.

Waiting for the pullback like....

"I wish I bought more. Said Everyone" - Cameron Winklevoss

Some of the financial institutions that do not want to get into bitcoin (or "crypto" as mainstream wants to characterize the related sector) are likely going to have to create obstacles if they want to keep out either institutional or retail investors.

In other words, like the below-linked article seems to describe, financial institutions are likely to be flooded with interest in bitcoin or "crypto-related" or whatever financial instrument that is offered in the coming years... If financial institutions want to keep peeps from investing, they will have to fight them away. hahahahaaha

https://www.coindesk.com/td-ameritrade-e...-in-crypto

(05-14-2019 09:14 PM)bgbusiness Wrote:  I made the mistake of getting out at low 5ks
I re-entered my positions in low 7ks...

That is like 20%+ of gain. Opportunity cost of thousands of dollars..

From now on, I am buying MORE when the market dips and just not going to sell anything next few years..

Poor you, couldn't tell the future.

Don't beat yourself up about making calls that turn out to be beneficial. Its possible you made the correct call and it just happened to go the other way. If I offer you a coin toss at 100/1 odds for heads, And it comes up tails but you bet heads. You made the correct decision but still lost.

Hindsights always 20/20, imprint it in your brain

Think for a minute where bitcoin will be in 15 years. It should be huge.