Cryptocoin Value and Market Trend Discussion

[lexluthermiester]

i think we may be looking at a new bitcoin general price level..

Maybe. But...

the fomo driven buying is over.. the fud driven selling is over.. the volatility has gone out of the market.. its settled..

..it's WAY to early to call this one. Especially with many governments all over the world currently working on mining restrictions and legal code to regulate transactions. Right now it's floating sideways. There is a very good chance that will not last, as hinted by this mornings plummet.

 

[ppn]

of course it looks like going sideways, they want to pull out of it and land this plane gracefully, not crash it. just look at the all time chart, it's a 60 degree slide for the last 60 days with all kinds of mornings plummets, and evening pumps but overall. going sideways is a delusional non sense. the whole thing is being kept afloat because of constant transfusions between the other coins and bitcoins, and it's pulling itself like climbing on a ladder, left hand right hand, pump the ETH, pump BTC and creates the illusion it's going up because the right hand receives unproportionally huge boost out of it. but the monthly pump of ETH that usually starts around 24-26th has probably peaked now. it has nothing to do with governments or bans. just the easy money flow is gone.

 

[basco]

and its summer in europe.
peeps have other things in mind then crypto after this covid shutdown frenzy.

 

[trog100]

thursday morning.. bitcoin and eth took a little dip overnight but remain in the narrow 31 to 35 K band.. the euro stock markets are all in the red and gold is moving higher..

trog

 

[RandallFlagg]

Trog jinxed it with that permanently high plateau Irving Fisher talk.

 

[lexluthermiester]

Trog jinxed it with that permanently high plateau Irving Fisher talk.

Yeah, this mornings tallies are showing a whole lot of fall-off..

 

[trog100]

anything between 31 and 35 K is sideways to me.. movement up and down between this narrow channel is how its been for a while.. basically sideways..

trog

ps.. just to add.. a break down and hold below 30K or a break up and hold above 36K would be needed for me to consider this sideways pattern to be over.. so far it continues..

 

[trog100]

sunday morning and things are still well and truly stuck in that sideways pattern between 31 and 35K...

it could go down it could go up or it could keep doing what its doing.. in truth nobody knows.. he he

trog

 

[RandallFlagg]

CPI came in at 0.9% for the month of June (single month). 5.4% YoY, 3.7% in the last 4 months. Annualized this would be over 11% inflation.

Note: these are month over month increases -

"The food index increased 0.8% in June, a larger increase than the 0.4-percent increase reported for May. The energy index increased 1.5% in June, with the gasoline index rising 2.5% over the month."

Markets are going to be quite unhappy here.

 

[trog100]

another thurrday morning and bitcoin is still stuck firmly in that narrow sideways band.. eth down slightly but not much.. gold is on the rise.. the stock markets are flat..

trog

 

[sepheronx]

another thurrday morning and bitcoin is still stuck firmly in that narrow sideways band.. eth down slightly but not much.. gold is on the rise.. the stock markets are flat..

trog

are you still mining with nicehash?

I have gone with ezil.me. I get both ETH and ZIL.

 

[trog100]

are you still mining with nicehash?

I have gone with ezil.me. I get both ETH and ZIL.

yes i am still using nicehash and letting my bitcoin stash slowly grow.. hoping of course that at some point bitcoins price will go much higher..

trog

 

[sepheronx]

yes i am still using nicehash and letting my bitcoin stash slowly grow.. hoping of course that at some point bitcoins price will go much higher..

trog

Have you thought about staking your BTC?

 

[moproblems99]

Maybe we are seeing the swap to ETH as leading crypto; BTC cant really compete on a technology level soon, or so people think.

BTC is the crypto version of Biden's art. You aren't buying it because it is good (or useful in btc context), you buy it for the name.

 

[trog100]

Have you thought about staking your BTC?

no i havnt gone into it much.. but really i just mine and hodle for the future.. kind of boring really.. he he..

trog

ps.. bitcoin is getting very close to the bottom of its narrow band.. the general thinking is that if it breaks below 30K it could go a fair bit lower.. i dont think it will but that is just my thinking..

 

[sepheronx]

no i havnt gone into it much.. but really i just mine and hodle for the future.. kind of boring really.. he he..

trog

ps.. bitcoin is getting very close to the bottom of its narrow band.. the general thinking is that if it breaks below 30K it could go a fair bit lower.. i dont think it will but that is just my thinking..

you worried?

It will adjust up, then down, then up, then down, then....

 

[trog100]

you worried?

It will adjust up, then down, then up, then down, then....

the plus side of long term hodling is short term ups and downs dont matter that much.. its where it will be at the end of the year that matters and currently that is anybodies guess..

trog

 

[RandallFlagg]

the plus side of long term hodling is short term ups and downs dont matter that much.. its where it will be at the end of the year that matters and currently that is anybodies guess..

trog

One year, or 6 months as you say, is not in any financial context I'm aware of considered long term holding. There's a reason financial advisors generally tell people to start edging away from stocks and into safer assets like CDs and treasuries at 50 when retirement is 12-15 years away. Usually when you are ~5 years from retirement, you want to be 80% safe investments with little or no chance of capital loss. Even if I assume BTC is going to be a good long term investment, it's unlikely to be any less risky - probably much more so.

 

[ThrashZone]

Hi,
I'd think cashing out on the high for more gear would be better long term then sitting pat on current hardware
Thought it was about expanding and producing more coin seeing gpu's are beginning to be cheaper at local stores than scalperbay

 

[LFaWolf]

One year, or 6 months as you say, is not in any financial context I'm aware of considered long term holding. There's a reason financial advisors generally tell people to start edging away from stocks and into safer assets like CDs and treasuries at 50 when retirement is 12-15 years away. Usually when you are ~5 years from retirement, you want to be 80% safe investments with little or no chance of capital loss. Even if I assume BTC is going to be a good long term investment, it's unlikely to be any less risky - probably much more so.

In the crypto realm, 6-months is long term. I have seen some of the sales pitch from a newsletter that holding time is just a matter of days.

Hi,
I'd think cashing out on the high for more gear would be better long term then sitting pat on current hardware
Thought it was about expanding and producing more coin seeing gpu's are beginning to be cheaper at local stores than scalperbay

I have seen quite a few outlets that have preached Bitcoin will reach $250k and beyond within a year. Perhaps some folks want to hold on the coins for that? Don't know.

 

[Space Lynx]

I have seen quite a few outlets that have preached Bitcoin will reach $250k and beyond within a year. Perhaps some folks want to hold on the coins for that? Don't know.

I just hope countries start taxing the living **** out of all crypto more than they already do. dat OG called government about to start makin that money, Hunter need more money for the strip clubs bois!!!! tanks and jets and aircraft carriers that's the power my dawgs. fiat funds it and soon more tax on crypto will fund it more

she climbin that pole oooooooooo

 

[lexluthermiester]

In the crypto realm, 6-months is long term.

But not in the real world, that was the point..

 

[LFaWolf]

But not in the real world, that was the point..

Not really though, because if you invest in crypto and enter into that realm, you play by a different set of rules.

 

[Space Lynx]

Not really though, because if you invest in crypto and enter into that realm, you play by a different set of rules.

your banking on government not taxing it heavily in the future though (more than it already taxes it) everything is a gamble.

and if you don't think they don't know you have crypto, I think people are going to be very very surprised in the coming years. I wouldn't be surprised if IRS already has secret ways to collect and tie IP addresses to crypto wallets / websites. hehehehe

 

[LFaWolf]

your banking on government not taxing it heavily in the future though (more than it already taxes it) everything is a gamble.

and if you don't think they don't know you have crypto, I think people are going to be very very surprised in the coming years. I wouldn't be surprised if IRS already has secret ways to collect and tie IP addresses to crypto wallets / websites. hehehehe

Dude, have you been smoking? I have no idea what your last 2 posts have any relevance to what is being discussed. I still like you though.

I invest through RobinHood, and yeah they sure know about me.