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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: tomnl]
    #28437493 - 08/17/23 06:57 PM (5 months, 9 days ago)

High volume breakdown on bitcoin, carrying much of the market with it.  Summer lows remain intact, and we are still technically within a range of stairsteps higher year-to-date... but this type of action does damage confidence.  It's been a long while since I've actively traded any crypto, although I do have significant exposure.  I think we're still OK here, if you zoom out to a weekly chart you can see we just tested the bottom of the relatively tight bollinger band complex.  But this does make me think it's going to be longer than many would have hoped, before bitcoin can breakout above $32K.  Wouldn't expect it this year anyway...


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OfflineJust M
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28438860 - 08/19/23 05:16 AM (5 months, 7 days ago)

:threadmonitor:


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #28444031 - 08/23/23 03:23 PM (5 months, 3 days ago)

Really nice push off of the short term bottom here in crypto.  Crypto does what it'll do, but yesterday's attempt to test the lows from the August 17th meltdown (which didn't break) and today pushing above the base that tightened up over the past 5 days, and on volume, is an encouraging sign.

Here's a chart Scott McGregor over at StockMarketMentor.com tuned me into today that was rather intriguing.

   


As you can see via the annotations, it indicates that institutional (aka large) investors are really starting to pay attention to bitcoin, which is why we are seeing such a sustained increase in 1+ BTC wallet addresses, even as price has been languishing.  That wouldn't be happening if big money wasn't entering the space.

The fact that there are eight pending bitcoin ETF applications sitting on the SEC's desk is fuel for the fire.  Reason being, custody and regulatory issues have made it difficult for various trade desks to involve themselves with crypto.  However, practically every single major financial player has developed their own crypto strategies that are ready to execute, they just need a stable method by which to accumulate, hold and trade through with security.  If you look back at when the gold ETF GLD hit the market in the early 2000's, you'll see that it brought a lot of money into the gold market.

Because of this dynamic, it is conceivable that us small time retail investors are being given a real opportunity to front run institutions whose hands may be tied with respect to crypto allocations.

Overlay that dynamic with the limited supply of BTC's maximum 21 million coin network (of which approximately 4 million coins are believed to be "lost" aka inaccessible), and we can see why there still remains some very real potential for stunningly massive price appreciation in crypto as an asset class that is still early in its adoption phase.


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Offlineashfiken
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28444423 - 08/23/23 08:27 PM (5 months, 2 days ago)

Is the sec obligated, by any means, to sign off on any of the etfs tho?
Or could they sit on their hands as long as they like?
I guess it's hard to see crypto being regulated ad nauseum. It to me seems certain countries cherry pick which and why they will allow particularly specific coins/financial vehicles to be used.
Based on their regulatory collaboration such as things like ripple and lumen a bit more recently..
Like monero. Will never be traded etf.
And bitcoin doesn't have a staff of crypto businessmen like many of the other projects, dissimilarly to the aforementioned projects or something like ethereum where they can bind themselves to the regulatory bureaucracy and sail into the promised land..
Some like ethereum I feel will always be it's own niche by choice.
Ripple and lumen doing it pretty straightlaced(barely ever worth more than a buck the two)
Or btc which is just a machine of unbridled nature.
The only hit it has on its side is the wide open ledger.
So the govt and regulatory agencies can see everything.  But yet still have little control in reality, nor the ability to flex and force some ppl in fear of prison and payments, into operation to the liking of state powers.
I dunno. I think bigger investors ARE getting in  but these type of fears make me think it may never be cracked wide open for wall st et al


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hmm...

"I'm naked and fearless... And my fear is naked."

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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ashfiken] * 1
    #28444793 - 08/24/23 08:46 AM (5 months, 2 days ago)

The SEC can drag their feet sure, but they don't want to lose credibility (any more than they already have! :lol:).  It's nearly a given that a bitcoin ETF will eventually be approved, the question is when.  Remember that bitcoin is being treated as a commodity, just like oil, gold and whatever else that doesn't inherently have any specific business or organization that manages it or can be held accountable for its existence.  It is simply a physical (or in this case digital) good of our earth that can be traded for value.  If gold made its way into wall street, there's no reason bitcoin can't follow suit.


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Offlineashfiken
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28445025 - 08/24/23 12:06 PM (5 months, 2 days ago)

Thanks for that geo!


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hmm...

"I'm naked and fearless... And my fear is naked."

"life isn't worth living without the threat of death"

"I got my plans in a ziploc bag, let's see how unproductive we can be"

"nobody lives their lives fully except for bull fighters"

My Trade List


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28446692 - 08/25/23 05:56 PM (5 months, 1 day ago)

I've never been a fan of Tron or the network's founder Justin Sun, and here's some relevant speculation surrounding potential problems/misrepresentations with Sun's empire that could result in market wide fallout if the chips fall poorly.  Never a dull day in crypto it seems.



Just wanted to post this here, because it was similar research/opinion pieces on Terra LUNA that led me to attempt to unbond my Terra just one week before their collapse.  Unfortunately, that unbonding process would take 21 days and I was simply too late to (re)cover my ass(ets) before they were vaporized.  By far the biggest loss I've ever taken on any investment, and it all unwound in the course of a few days.

Hence, I would advise anyone with assets on the crypto exchange Huobi, the TRON network or anything TRON related, to move out accordingly.  This all may be much ado about nothing.  But on the other hand, it may be the canary in the coal mine.  There's no way to know, but if I had assets involved there, I would be working fast to pull them out.


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Offlinetomnl
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28450688 - 08/29/23 02:07 AM (4 months, 28 days ago)



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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: tomnl]
    #28450873 - 08/29/23 08:23 AM (4 months, 28 days ago)

Sweet.  Crypto overall catching a bid this morning. :rocket:


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28450880 - 08/29/23 08:29 AM (4 months, 28 days ago)

Turns out the push this morning is on account of a federal appeals court ordering the SEC to "vacate" its rejection of (i.e. the SEC must review its rejection of) Grayscale's bid to convert their bitcoin trust into an exchange-traded fund.  The court decided that the SEC had acted "arbitrarily and capriciously" and that its analysis was flawed.

This doesn't mean a bitcoin ETF is approved, but it is a rather positive development, and quite embarrassing for the SEC, as federal court is now openly challenging the SEC's authority and logic on this matter.  Although the SEC can appeal, appeals of this nature almost always fail.  Even if they take it all the way to the supreme court, the SEC has lost 4 out of their 5 most recent cases, as the current court is very biased against government overreach. 


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OfflineSyntex
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28462718 - 09/08/23 07:56 PM (4 months, 17 days ago)

25k won't hold. The weekly is about to drop for a retest of 21k-22k then if unable to hold a test of 18k.

Last monthly candle bearish engulfed its previous, current candle is a spinning top but will likely form a 3 crows pattern. It's rare for a 2 black candles not to form this pattern after a bearish engulf.

Besides TA, the overall sentiment is trash. Ontop of that we are currently in a recession and people don't have money let alone money for internet meme coins.


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28474759 - 09/19/23 09:37 AM (4 months, 7 days ago)

BTC once again attempting to push up and out of the recent month's long consolidation range above $25K.  Up volume over the past couple of weeks has dwarfed down volume, which is also encouraging.  As always, this sector is extremely volatile, but it is looking increasingly constructive.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28480342 - 09/23/23 07:18 PM (4 months, 3 days ago)

is there a trustworthy tokenized platinum, like PAXG is tokenized gold?


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
    #28480410 - 09/23/23 08:43 PM (4 months, 2 days ago)

Not that I am aware of.


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28485905 - 09/28/23 03:39 PM (3 months, 29 days ago)

Seasonality would indicate October as one of the more positive months for bitcoin.  Bloomberg is also indicating a high probability that an Ethereum futures ETF will be approved next month.  There has also been a bi-partisan effort to encourage SEC chairman Gensler to approve a spot based bitcoin ETF, by which, analysts suggest a spot bitcoin ETF could bring in hundreds of billions of dollars of new capital into the sector very quickly.

Honestly, we're starting to see a pretty good underlying narrative here for crypto, and with the next halving cycle coming up as well, I think we very well may see a new cycle higher in the relatively near future.

Bitcoin miners have been selling a lot of bitcoin to raise cash in order to maintain operations (in light of the backdrop of potentially sustained high interest rates that preclude their ability to obtain cheap loans), which may explain why prices have largely remained in a basing pattern, despite the catalysts noted above.

As an aside, an interesting tidbit, although I'm not sure about the metrics used to calculate the valuations, but nevertheless, word is that Ethereum has surpassed $10 billion in revenue in its 7 years of existence, which is a faster pace than Microsoft, Adobe, Shopify and Meta/Facebook.

Lastly, the Federal Reserve published a report on tokenization, specifically mentioning Bitcoin, Ethereum and Solana.  Anyone who has been following this thread knows that these are amongst my favorite (and still largest personal allocations) in the sector.  The Fed calling them out directly further supports their leadership case.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28486363 - 09/29/23 01:14 AM (3 months, 28 days ago)

Honestly I feel like the crypto market is probably healthier now than it has been since maybe ever. Boom and bust isn't good for currencies and technologies, it's good to see some restraint and stability.

I still don't have any plans to buy any crypto in the near future, just saying I think the recent market malaise is actually a good thing.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: nooneman]
    #28486370 - 09/29/23 01:40 AM (3 months, 28 days ago)

I feel like ur trying to tell me to buy Dogelonmars


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #28507967 - 10/17/23 10:47 AM (3 months, 10 days ago)
Log in to view attachment

I like the action.  Added a little bit of BTC @ $28.5K and SOL @ $24. :yesnod:

Also, check out the Fidelity report attached to this post. :rockon:


... and hilariously, Larry Fink of Blackrock (amongst the biggest global investment firms), said in...

Quote:

2017: Bitcoin is an index of money laundering!

2020: It's a sin market!

2023: Bitcoin is a flight to safety!


:themoreyouknow:




:lolsy:


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Edited by geokills (10/17/23 10:52 AM)


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28508093 - 10/17/23 12:44 PM (3 months, 10 days ago)

:endorse:


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28515159 - 10/23/23 10:22 AM (3 months, 4 days ago)

Bought a little more BTC @ $29900 and have a bids out for more SOL at around $25.75.

Sure looks like the train is leaving the station.  Let's hope this is the beginning of another big up cycle! :rockon:


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