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drbubb

Bitcoin jump of 2017 : $1,000, $2,000, $5k, $10k & rising?

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FOR THE RECORD HERE - remembering the Top

/ 1 / Dec. 16th, posted in DrBubb's diary, as Money Flows...

INTO BITCOINS... and Back Out again too?

Bitcoin Daily Chart Alert - BOOM! Price Explodes To A New High ... Kitco News

Based on core global economic fundamentals, the gold price should be well north of $10,000 an ounce. Yet because gold is rare, is hoarded by governments and very wealthy, very private plutocrats, because it is intimately related to the value of interest rates and the perception of paper currencies themselves, its price is tactically suppressed. Meanwhile, Bitcoin – a purposeful distraction from gold – is, in turn, strategically run up to $10,000 at an unprecedented pace, quite possibly by the Deep State’s financial and technological arms, in part so that you feel like you’re ‘missing out’.

 

/ 2 / Dec. 19th, Dr Bubb's Diary

The “Pricing” of Bitcoin vs. Gold Is Meant to Herd the Masses

 

/ 2 / Dec. 21st on Dr Bubb's Diary

BTS ... update

WumBYQn.png

/ 3 / This was posted Dec. 23rd - on DrBubb's Diary & on the "Life & Times of Cryptocurrencies" thread

BTS ... 12-mos

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Bitcoin plunges below $11,000 in volatile trading on Coinbase as rout accelerates; now down 40 percent from record

Bitcoin plunges more than 40 percent from its all-time high reached Sunday, according to Coinbase.
Coinbase said a little after 11 a.m. New York time that buying and selling was temporarily disabled.
CME's bitcoin futures expiring in January reached 'limit down,' off 20 percent.
Stocks that have soared dramatically on speculation around their connection to bitcoin and its underlying blockchain technology also fall.

==

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Bitcoin chart is "still not (completely) out of the woods yet" ... 12mo update / 8yr: 12mo : 5m : 2m : 1m : 25 10 5d 2d :

J0coiO2.png

The second (304 period) Moving Averages shown above could soon rollover, and be pierced by the short one (84 periods)

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Another attempt at a Bitcoin low?

The Bitcoin Drop may be done, based on the fall to Fibonacci 38.2% of the Peak

Bitstamp -12month chart ... update

DpBQW87.png

Since Feb1... update

mbjg9KJ.png

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bump - this old video seems a bit laughable now

"The Switzerland of Crypto-Currencies"

Iceland is About to Save the World With AURORACOIN

Each Icelander receives 31.8 Aurora Coins / AUR

"How we can be truly free by loving each other"

AUR was a GREAT SUCCESS on its launch as shown earlier in this thread

Believe it or not, there was a brief moment, when AUR was the #3 coin:

No. : Coin : MarketCap : Price :  No.-O/S / Volume,24hr
#01 : BTC : $ 8.103 bn : 649.58 : 12.48mn / $38.55 mn
#02 : RPL : $ 1.558 bn : $0.016 : 99,999m / $197,639
#03 : AUR  $ 619.4mn : $58.42 : 10.60mn / $ 3.11 mn
#04 : LTC. : $ 416.5mn : $15.86 : 26.27mn / $32.06 mn

It traded up to $90+ at the beginning of March 2014... and then crashed

>$90 (Mar.2014: H:>$90/ L:$1.55-3/30/14)
Low: $0.015 Mar.2015 / $0.06 Mar.2016 / $0.12 Mar.2017


But it has come back from those lows:

Price: $1.76 USD (7.61%) / 0.00019289 BTC (2.57%)
MktCap: $15,259,884 USD / 1,670 BTC
Volume (24h): $119,093 USD / 13.03 BTC
Circulating Supply: 8,658,139 AUR

> see:

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On the Crypto-Cats thread, I wrote:

 "Looks less vigorous than I expected. So the medium term prognosis here may be More Bearish than I had previously thought."

(Yup. Seems like a Big Seller was lurking in the background. Then we got the News shock.)

BTC chart ... update : 10d :

vwJ1vHw.png

Bitcoin Dives After SEC Says Crypto Platforms Must Be Registered

Speculation that Binance was hacked adds to crypto concern
    Biggest digital coin breaches $10,000 in two-day decline

Bitcoin slumped back below $10,000 after the U.S. Securities and Exchange Commission reiterated that many online trading platforms for digital assets should register with the agency as exchanges.

The largest cryptocurrency dropped as much as 13 percent to $9,416 after the SEC statement boosted concern that tightening regulation may limit trading ... https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-dives-after-sec-says-crypto-platforms-must-be-registered

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BELOW $10,500... we have possible support at about $9300, $7800, and the $6,000 Recent Low

BTC- 1 mo :

sLIhwPc.png

==

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The Bitcoin correction may be over - an ABC correction is in place

BTS ... 12mo : 5mo : 10-d :

sHjc8P5.png

$10,000 next resistance?

CAo0YYr.png

==

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Bitcoin's Correction may be over

BTS ... 5mos : 5mo-L :

oXaNGr6.png

Longer term MA's

EbDq1qB.png

12mos

4q9KI40.png

==

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Recent BITCOIN prices over 5-days - Almost Live

chart.png?m=bitstampUSD&v=1&t=S&noheader

(( Historical charts )) : 8yr : 2yr :

KkzH60I.png

NYSE Bitcoin Index / NYXBT ... 3yr : 1yr : 6mo :

80upyz5.gif

2-yrs w/Weekly Bitstamp price data : 2yr-w.D : 2yr : 1yr : 6mo : 5moL :

oImKUXN.png

========

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BTC back below 30,000.  I am 97% hedged,  but have some buys in at Lower levels

yARdjy2.png

BTC Support looks to be between 28,000-29,000.  At this stage, I am thinking there is at least a 50% risk it will go below.  And, if it does, it my get nasty.  Too late to short it now, until we know what happens at/near support...  Depending on how the likely test of support goes, i might do some buying. Probably light buying.  Since there might be lower risk buying opportunities later

WIfqpxc.png

Look at the Whole Picture - ALL the data

PGpo2QZ.png

===

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YECVaCo.png

BTC back at 32k.  See a Cycle?

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Quote

4-6 Days cycle low may be in

...  
Bitcoin daily chart alert - Bulls in good shape early this week ...

> https://www.kitco.com/news/2021-02-02/Bitcoin-daily-chart-alert-Bulls-in-good-shape-early-this-week-Feb-2.html4-6 Days cycle low may be in ...  
ek-Feb-2.html

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EQ0HCoF.png

Cyclical Guess of where BTC will go... from here... into next possible cyclical low

TRADER COMMENTS

A: One of my favorite Twitter accounts is calling another move higher to 43k then 56k

B:  If THAT is going to happen, BTC will first have to break that slight downtrend line, and barely pause into the cycle low in about two days

A: That TL is key. Nice chart

B: Yes,  The charts can be a useful guide for trading strategy.  But you have to always stay ready for surprises, such as that MUSK bump of a few days ago.  

 

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Bitcoin Hits Another All-Time High — $50,000

ONj3CuY.png

The digital asset reached a high of $50,689.18 before 8 AM EST at Binance, the largest market for BTC with over 5% of its daily volume, according to CoinMarketCap — a price data site owned by Binance

BTC began this year at a value around $29,000, up from about $7,000 a year before. In December, it broke an all-time high set in its 2017 bull run, finally hitting $20,000 as new institutional investors and high-profile corporations such as PayPal began buying in.

Historically, Bitcoin has grown in cycles of parabolic ascent and “crashes” down to prices far above the previous cycle’s highs. The asset has undergone two major bear markets — in 2014 and 2018 — corresponding to its “halving,” a feature of the software that slows the system’s monetary supply growth by half roughly every four years. After each cut to the issuance rate, the resulting scarcity when buying newly-minted Bitcoins has led to record-high prices and sharp corrections.

A third “halving” took place in May 2020, and by mid-fall, prices began to approach previous highs. By mid-December, BTC began a new cycle of price discovery.

Bitcoin’s slowing issuance will ultimately make it a deflationary currency, providing an alternative to central banking systems. For example, the U.S. dollar is inflationary by design, which incentivizes spending and long-term debt and penalizes personal savings. Before Bitcoin, the most common way for the middle class to beat inflation was by investing in the stock market, enriching brokers and third parties via fees and penalties for withdrawal before retirement.

> https://www.breitbart.com/tech/2021/02/16/bitcoin-hits-another-all-time-high-50000/

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"THE SURPRISES on Bitcoin,  are always to the upside," says Dom Frisby

They also talk a bit about the history of Taxes

As Bitcoin Price Rockets Higher, CEOs Will See Incredible Pressure to Move Away From Cash

Bitcoin has already created FOMO, the fear of missing out, on an investor level— and now it will play out on the corporate one, says Dominic Frisby, author of Bitcoin: The Future of Money and his latest, Daylight Robbery. Frisby explains how Elon Musk and Tesla's $1.5 billion foray into Bitcoin will create immense pressure on other CEOs to follow suit, which is incredibly bullish for the crypto.

Learn more about Crypto Capital and sign up today: https://stansberryresearch.com/produc...

Dom has a Familiar face and voice.   (we were friends, years ago in London.)

Here's the funny thing now:  I hear Dom's voice almost everyday, when I am getting exercise.   He does a voiceover for a radio station here.  A bumper for BBC news.  Maybe some Filipinos will even recognoze his voice today.  I wish I had listened to him all those years ago, when he started signing the praise of Bitcoins.

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Yo1O8Dt.png

A $56-58,000 Target was projected by this

gyiHKF5.jpg

==

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DvLuFOj.png

Pause or Selloff underway from BTC-$57,500?

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MUSK SHOT BTC, but excessive Regulation & Taxes could kill it  /

Weighing on bitcoin were the latest comments from Tesla CEO Elon Musk, stating that prices "seem high" after the digital currency hit the latest new record.

LJupvzz.png

Can crypto be taxed like gold? Is regulation the real threat to bitcoin's $1 trillion market cap
Anna Golubova Monday February 22, 2021

(Kitco News) As bitcoin continues to surprise with new milestones almost daily, are U.S. officials signaling that more regulation is coming, and is that a threat to this year's massive price rally?
The crypto space has been all the rage so far this year, with bitcoin at its center.

Yet, despite all the good news, there are signs of worry. After surpassing market capitalization of $1 trillion on Friday, bitcoin prices tumbled from new record highs of $58,000 back to $50,000 on Monday. At the time of writing, bitcoin was trading at $54,222.74, down 6.30% on the day.
Weighing on bitcoin were the latest comments from Tesla CEO Elon Musk, stating that prices "seem high" after the digital currency hit the latest new record.
But what about regulation? Could increased scrutiny from the U.S. officials trigger even a bigger selloff?

. . . Regulations explained
The existing oversight over bitcoin is a "patchwork of regulations" that varies from state to state, analysts told Kitco News.
Here is a quick breakdown:

• Virtual currency spot exchanges are overseen by State Banking regulators via state money transfer laws.

• The U.S. Internal Revenue Service (IRS) treats virtual currencies as property, which is subject to capital gains tax.

• The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) is in charge of monitoring bitcoin's transfers for anti-money laundering activity.

• The Securities and Exchange Commission (SEC) has taken action against unregistered ICOs (initial coin offerings).

• On the CFTC side, bitcoin has been declared a financial commodity, which means that the CFTC can regulate futures and other derivatives that are settled in bitcoin or are based on bitcoin.

What this reveals is that there is no federal oversight of bitcoin's spot markets. "The companies that allow you to buy and sell bitcoin and then exchange it back into a fiat currency are essentially unregulated," said Elliot. "Their primary regulator is the state they operate, which use their own money-transmitter regulations."

. . . WHO YOU SELL YOUR BTC TO - may become essential info

"Now the Biden administration is rethinking how they want to move forward with that because it would not only require to 'know your customer,' but also their customer's counter-parties. This means if you got bitcoin from Coinbase, for example, they would have to know who you are, where you live, and addresses and names of who you subsequently send that bitcoin to."

Yellen's comments, if they were to lead to additional regulation, would be made through FinCEN, Elliot added.

"What's in the grey zone right now are exchanges where people are buying and selling bitcoin, which are basically not touched by the federal government. This is where you could see someone like Yellen testifying that the Treasury thinks it has a blind spot. That could lead to regulation in the future," Elliot stated. "It could be in the form of extending SEC and CFTC authority to exchanges that trade cryptocurrencies. I think a new regulator is very unlikely."

> https://www.kitco.com/news/2021-02-22/Is-regulation-the-real-threat-to-bitcoin-s-1-trillion-market-cap-Can-crypto-be-taxed-like-gold.html

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MUSK LOSSES?  Musk Selling?

Rumors...

+ Elon Musk lost a combined $30 Bn yesterday on TSLA stock, and BTC valuation

+ Some say he may have sold some or all of his BTC at a profit, and aims to buyback in cheaper, which is why he said it looked overvalued, or something like that

 

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BTC futures:  6mos : 12mo: 4yr: 2yr: 12mo: 6mo: 10d / Last; $47k

nRlizOa.gif

==

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