Bitcoin price suddenly surges to 3-year high

R-T-B · May 31, 2021

lexluthermiester said:
Make sure your source is a little more creditble before being a smart-ass about it.

Dare I ask what reputation level "investors-corner.bnpparibas-am.com" is?

Frankly, I trust the crypto source more than that. And from what I have heard, using it as a currency/tradable/whatever is legal. It's the exchanging process that gets difficult.

Outback Bronze · May 31, 2021

lexluthermiester said:
smart-ass about it

I'm just trying to inform you that its technically not 'Banned" completely which you seem to be implying to everyone.

lexluthermiester · May 31, 2021

Outback Bronze said:
I'm just trying to inform you that its technically not 'Banned" completely which you seem to be implying to everyone.

I didn't say that. You need to go reread my comments and pay careful attention to the vocabulary and sentence structure used. Don't bother responding if all you're going to do is let your pride react.

And yes, China has, in essence, banned the use of cryptocoin.

R-T-B said:
Dare I ask what reputation level "investors-corner.bnpparibas-am.com" is?

Frankly, I trust the crypto source more than that. And from what I have heard, using it as a currency/tradable/whatever is legal. It's the exchanging process that gets difficult.

I prefer to take seriously a source that has no vested interest in the story and can therefore be more objective.

LFaWolf · May 31, 2021

Can we trust CNBC? https://www.cnbc.com/2021/05/18/chi...nstitutions-from-cryptocurrency-business.html

lexluthermiester · May 31, 2021

LFaWolf said:
Can we trust CNBC? https://www.cnbc.com/2021/05/18/chi...nstitutions-from-cryptocurrency-business.html

Seems spot on. They seem to be going along with what is actually coming out of China.

sepheronx · May 31, 2021

https://www.reddit.com/r/Bitcoin/comments/np4tfx

Reserve Bank of India - Index To RBI Circulars

So there never was a ban in the first place and banks were going against the law.

When will I get my apology?

lexluthermiester · May 31, 2021

sepheronx said:
India just unbanned Bitcoin (today) from Bitcoin

Reddit is not a credible source of financial information on any level... Not worth reading..

sepheronx said:
Reserve Bank of India - Index To RBI Circulars

...that however might be. Interesting. Pay careful attention to paragraph 2...

sepheronx said:
When will I get my apology?

When a snowball can be mounted on a statue of Jello on the surface of Venus.

sepheronx · May 31, 2021

Still not banned.

So I will accept your apology.

Btw, reddit is a source of it provides the source, which in this case, is the official source of the Indian central bank.

lexluthermiester · May 31, 2021

sepheronx said:
So I will accept your apology.

Dream on... :laugh:

sepheronx · May 31, 2021

lexluthermiester said:
Dream on...

Apology accepted. See, it wasn't so hard, was it?

trog100 · Jun 2, 2021

well.. bitcoin is at 38K and eth at 2800... i think a bottom was established a few days back and the whales and institutions will start (or have started) buying back in..

trog

RandallFlagg · Jun 2, 2021

trog100 said:
well.. bitcoin is at 38K and eth at 2800... i think a bottom was established a few days back and the whales and institutions will start (or have started) buying back in..

trog

Highly unlikely. BTC hasn't done anything bullish yet, it's merely a technical bounce. It hasn't even touched the bottom of the 200DMA yet. Here's the daily chart, for perspective.

Zach_01 · Jun 2, 2021

We have seen this before back at 2017/18.
I'm not saying that it would be the same. Just that there is a possibility to repeat alike behaviour.
It could potentially fall (gradually and with ups and downs) even under 20,000$ the next couple of months, unless something changes drastically.

I do believe though that at some point it would be back up, maybe even a new ATH. Not just yet...

Last 14 months

2017-2018
Lot's of breaking points (price wise) but none sustained long term

Again I'm not saying that this is exactly the case. It could take a turn any time. But so far its not.

Outback Bronze · Jun 2, 2021

Zach_01 said:
We have seen this before back at 2017/18

From what I've been reading, most analysts are comparing it to the 2013 run.

Bitcoin price bull run ‘starting to look like 2013’ after record red monthly candle (cointelegraph.com)

Bitcoin's price drop seems to a mid-break in 2021 bull-run - TechStory

Bitcoin (BTC) Peak: Wyckoff Distribution, 2013 Bull Run and Pi Cycle (beincrypto.com)

Bitcoin accumulation uptrend can create a 2013-style BTC price ‘double pump’ (cointelegraph.com)

Time will tell though. Its looking better atm from what I've been seeing as its been getting higher lows but yeah still not very confident of a good run up for obvious reasons.

trog100 · Jun 2, 2021

well i recon we had a bottom and i now see a steady upward trend.. i dont see a rally just a steady upwards trend.. until the next dip that is but that wont go down where it is now.. he he..

trog

Outback Bronze · Jun 2, 2021

trog100 said:
well i recon we had a bottom

Yes possibly as I was watching the bears try very hard but I don't think they are out of the woods just yet.

Also been reading that 20K could be on the cards because of a head and shoulders pattern so no confidence in me just yet.

ZenZimZaliben · Jun 2, 2021

RandallFlagg said:
Do you realize you are like the ultimate contrarian indicator? Every time you post something about BTC or ETH the crypto market tanks within a few hours. I should chart that.

Ok, lets test this out!

Almost anything you can think of is on the cards. It could tank to zero or spike to 100k. But IMO it's going down...way, way down. Zero % chance it goes up.

RandallFlagg · Jun 2, 2021

ZenZimZaliben said:
Ok, lets test this out!

Almost anything you can think of is on the cards. It could tank to zero or spike to 100k. But IMO it's going down...way, way down. Zero % chance it goes up.

I told you, every time you post BTC plunges within ~~a day~~ hours.

R-T-B · Jun 2, 2021

RandallFlagg said:
I told you, every time you post BTC plunges within ~~a day~~ hours.

You said he was the ultimate "contrarian indicator" IIRC.

RandallFlagg · Jun 2, 2021

Zach_01 said:
We have seen this before back at 2017/18.
I'm not saying that it would be the same. Just that there is a possibility to repeat alike behaviour.
It could potentially fall (gradually and with ups and downs) even under 20,000$ the next couple of months, unless something changes drastically.

I do believe though that at some point it would be back up, maybe even a new ATH. Not just yet...

Last 14 months

View attachment 202568

2017-2018
Lot's of breaking points (price wise) but none sustained long term
View attachment 202570

Again I'm not saying that this is exactly the case. It could take a turn any time. But so far its not.

Markets tend to be fractal, but the interpretation is up to the beholder.

If we assume this time looks like last time (unlikely due to rule of alternation, this time is never like last time), this would be my interpretation.

Now is on the left and right, the middle is 2017-2018, the red lines are to corresponding price points. This would mean BTC has one more big plunge with a similar bounce, then a slower decline followed by a long time (a year) of sideways movement before it rises again (if it does) :

R-T-B said:
You said he was the ultimate "contrarian indicator" IIRC.

It's only been 53 minutes, but I get it, I just said everytime he posts BTC goes down. I think I can actually prove that as I was noticing it multiple times, but perhaps there's another dimension regarding content of post.

Anyway, it's 11:36BST and he posted ~1 hr ago, 10:30ish is circled. BTC already lost about $300.

Welp, $450 and counting :

R-T-B · Jun 2, 2021

RandallFlagg said:
It's only been 53 minutes, but I get it, I just said everytime he posts BTC goes down. I think I can actually prove that as I was noticing it multiple times, but perhaps there's another dimension regarding content of post.

I don't know, I just find the idea it all hinges on him funny either way.

#undercoverwhale?

RandallFlagg · Jun 2, 2021

R-T-B said:
I don't know, I just find the idea it all hinges on him funny either way.

#undercoverwhale?

Could be. Maybe when he decides to sell he makes the rounds on social media and talks it up? Seems like this would be a low impact place but TPU does have millions of viewers, who knows.

R-T-B · Jun 2, 2021

Hey, it works for Elon...

Seriously just kidding around but you never know, lol...

trog100 · Jun 3, 2021

whales wait until the dumber coiners and the youtube influencers think its about to go up .. in a sense these people become self forefilling prophesies.. then they kick it down..

smart money buys at the bottom dumb money buys on the way up.. being as the entire market slavishly follows the price of bitcoin all this is very easy to do...

ether way i recon we found the bitcoin bottom and now the only way is up.. he he..

with a few whale induced manipulations along the way..

trog

lexluthermiester · Jun 3, 2021

trog100 said:
whales wait until the dumber coiners and the youtube influencers think its about to go up .. in a sense these people become self forefilling prophesies.. then they kick it down..

smart money buys at the bottom dumb money buys on the way up.. being as the entire market slavishly follows the price of bitcoin all this is very easy to do...

ether way i recon we found the bitcoin bottom and now the only way is up.. he he..

with a few whale induced manipulations along the way..

trog

And this is why cryptocoin needs heavy-handed regulations.

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Bitcoin price suddenly surges to 3-year high

R-T-B

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