Cryptocoin Value and Market Trend Discussion

[Outback Bronze]

If anybody is interested, DOGE is pumping because Elon just tweeted Tesla is going to accept DOGE in their online store

 

[sepheronx]

If anybody is interested, DOGE is pumping because Elon just tweeted Tesla is going to accept DOGE in their online store

I see he is at it again eh?

 

[Chomiq]

If anybody is interested, DOGE is pumping because Elon just tweeted Tesla is going to accept DOGE in their online store

Expect him to dump it all in month or so with "Ummm, actually we're not accepting DOGE anymore"

 

[dorsetknob]

there is lot of fear in the general markets.. fear drives prices down..

When there is a Shortage Fear also Drives the Price of things up

 

[RandallFlagg]

Normally would expect a re-test of the trend line, in purple below. Weekly scale chart so this is long term.

All the major stock indexes along with crypto show the same thing. This is BTC:

Meanwhile the advance - decline ratio continues to plummet. This shows that the number of stocks advancing - declining has been going down since Feb (this means more stocks are losing value than going up in value). This had a chance to recover in late Oct but didn't. This looks far worse than the breadth divergence that presaged the financial crisis of 2008.

 

[trog100]

thursday morning.. bitcoin now around 49K with eth at 4.0K.. a slight up-tick.. not a lot but at least things didnt go lower..

trog

 

[MentalAcetylide]

If anybody is interested, DOGE is pumping because Elon just tweeted Tesla is going to accept DOGE in their online store

Well, at least DOGE isn't tweeting that they're accepting Elon. A further artificially pumped up Elon is the last thing we need.

 

[trog100]

christmas eve morning and bitcoin is just over 51K with eth at 4.1K... up nicely from the 46K lows..

i think the downwards trend has reversed and things are on the up from now on.. but i could be wrong.. he he..

trog

 

[MentalAcetylide]

christmas eve morning and bitcoin is just over 51K with eth at 4.1K... up nicely from the 46K lows..

i think the downwards trend has reversed and things are on the up from now on.. but i could be wrong.. he he..

trog

heh, if it keeps going up, we might start seeing commercials with Sonny the Cuckoo Bird exclaiming he's "cuckoo for crypto-currency" while sporting a large box of RTX 3090Ti cards and a bowl of Bitcoins.

 

[R-T-B]

I see he is at it again eh?

He never stopped. Someone needs to stick him in cryostasis on a trip to mars just to shut up his twitter.

 

[Metroid]

Expect him to dump it all in month or so with "Ummm, actually we're not accepting DOGE anymore"

Yeah people that think that elon is here for the little guys will be disappointed hehe

Anyway, enjoy the last bulltrap trolls, this is going a little higher than 69k and then hehell, crash at least 80%, could go to 90% from top for btc, altcoins 99% crash from top ehhe and scamcoins 99.99% from top hehe, my prediction still stands, btc 79 to 89k at maximum, btc will not hit 100k this cycle.

 

[R-T-B]

Anyway, enjoy the last bulltrap trolls, this is going a little higher than 69k and then hehell, crash at least 80%, could go to 90% from top for btc, altcoins 99% crash from top ehhe and scamcoins 99.99% from top hehe, my prediction still stands, btc 79 to 89k at maximum, btc will not hit 100k this cycle.

Cool story bro.

 

[Bomby569]

I really dislike crypto in general, but this doomsday predictions are funny, we've seen them since the 1000$ boom. At what point do people say, maybe i don't know what i am talking about.

 

[Chomiq]

Bitcoin's at $47k, ETH's down to $3800 and it's all quiet here? What's behind the $20k dip?

 

[trog100]

Bitcoin's at $47k, ETH's down to $3800 and it's all quiet here? What's behind the $20k dip?

hard to say.. there is no real answer to that one.. one could equally say.. why did it go as high as it did in the first place..

the interesting question is.. where does it go from here..

trog

 

[Bomby569]

The only value of crypto is supply and demand for the coins itself, less people buying so value drops. I guess the pyramid is having trouble recruting more people for the bottom.
And don't attack the messanger, i have nothing against crypto, just stating the obvious here.

 

[sepheronx]

hard to say.. there is no real answer to that one.. one could equally say.. why did it go as high as it did in the first place..

the interesting question is.. where does it go from here..

trog

I read that there was a dump of over $330M of BTC/ETH in late December. Not sure what was the reason, people say to prepare for taxes. I am not entirely sure though as that doesnt make sense since I believe tax documents dont come out till the next year. Unless they are just planning ahead.

 

[trog100]

I read that there was a dump of over $330M of BTC/ETH in late December. Not sure what was the reason, people say to prepare for taxes. I am not entirely sure though as that doesnt make sense since I believe tax documents dont come out till the next year. Unless they are just planning ahead.

i have read a lot.. none of it provides an answer.. one thing is for sure a lot of people were wrong in their predictions of over 100K before the year end..

there is a lot of fear in the general markets.. could be big money is just hanging on to cash until the new year gets rolling and things become a little clearer..

trog

 

[sepheronx]

i have read a lot.. none of it provides an answer.. one thing is for sure a lot of people were wrong in their predictions of over 100K before the year end..

there is a lot of fear in the general markets.. could be big money is just hanging on to cash until the new year gets rolling and things become a little clearer..

trog

well, we wont know until after tax time. It was same as last year and year before that. We are into new year, and with it, comes the tax man. So of course lots are dumping for cash so they can pay their taxes and rightly so.

 

[Metroid]

Bitcoin's at $47k, ETH's down to $3800 and it's all quiet here? What's behind the $20k dip?

Whales know the limit when is hit, no whale is crazy enough to venture in that level again as many whales were killed and now many are stuck at that level, the smart whale sold fast and others are stuck, whales have a limit as how much they want to invest in something, if bitcoin does not rise above 69k previous high next 6 months then next is to think how low it can go, right now looking at 80% crash, that would mean back to 10k, selling climax lower than 10k possible, then rise to 15k-20k and stay there for the next 3 years or so, it can hold pretty well at 15k as bottom right now till it rises again, next cycle.

Many newcomers are still very spoiled by cryptos, many already have seen the reality because they probably have lost a lot and have no clear sign their altcoins they bought at or close to the top will rise again, so fear will soon take over and then mass sell off, I still think there will be a last bulltrap just like march 2018 and then crash hard from there.

 

[Bomby569]

I read that there was a dump of over $330M of BTC/ETH in late December. Not sure what was the reason, people say to prepare for taxes. I am not entirely sure though as that doesnt make sense since I believe tax documents dont come out till the next year. Unless they are just planning ahead.

that makes no sense to me, if you sell crypto then you have to pay taxes on it, so why would that solve any tax problem, it would just make it worst as you would have to pay taxes on the crypto sale.
Selling crypto to pay taxes is just making more taxes to pay

 

[sepheronx]

that makes no sense to me, if you sell crypto then you have to pay taxes on it, so why would that solve any tax problem, it would just make it worst as you would have to pay taxes on the crypto sale.
Selling crypto to pay taxes is just making more taxes to pay

No, you have to pay taxes even on crypto even if not sold. The new rules are a pain in the arse.

Plus the big holders of these coins are also got other assets they pay for. Crypto is just the better option to dump over property and other assets.

Thankfully for me, I have more losses than gains outside the mining aspect so yeah....

 

[Bomby569]

No, you have to pay taxes even on crypto even if not sold. The new rules are a pain in the arse.

Plus the big holders of these coins are also got other assets they pay for. Crypto is just the better option to dump over property and other assets.

Thankfully for me, I have more losses than gains outside the mining aspect so yeah....

i just googled it and it seemed to confirm what i was saying, i don't think that unrealised gains is applicable in crypto. not sure anymore now. Are you sure, do you have a quote for it

PS: i'm not in the US and it definetely doesn't apply here, but i imagine we are talking in the US context here.

 

[sepheronx]

i just googled it and it seemed to confirm what i was saying, i don't think that unrealised gains is applicable in crypto. not sure anymore now. Are you sure, do you have a quote for it

Maybe not, dunno.

But I'll give you a hint of something I learned through grapevine - people sell to dump into rrsp and what not to save from taxes. At least in Canada. Not sure in USA.

 

[Bomby569]

Maybe not, dunno.

But I'll give you a hint of something I learned through grapevine - people sell to dump into rrsp and what not to save from taxes. At least in Canada. Not sure in USA.

i guess that's nice. we do have lot's of incentives to do it, but not with crypto.