Jump to content
Sign in to follow this  
drbubb

Bitcoin jumps of 2017 & 2020 : $1,000, $5k, $10k, $50k & rising?

Recommended Posts

MONITORED the MOVE! 

The Bitcoin Uptrend broke over the weekend : 6mo : from March 1, 2020: High: 65,520

aOL14vm.gif

10d: Last: $56,095

JPlV1Jw.gif

xx

(LOOKING BACK):

I was sharing these charts and comments just after that apparent Top - on my viber chat

f9qEg6d.jpg

On  April 18th, I posted: "TEST of BTC uptrend line may come very soon now

BCH is already melting down, and is below $1000. ( I am hedged now on the half of BCH that I did not sell at over $1100.)"

Bo4YfNS.jpg

BTC near $61,000, with a big test coming soon.

Bitcoin Is a Hallucinogenic That May Destroy Idea of Money: Jim Rickards' Pre-Debate Breakdown

==

Share this post


Link to post
Share on other sites

HOW BITCOINERS THINK - Peak Psychology?

I worry that they want to BULLY people into hodling BTC, rather than using sweet logic & reason

How they see the future...

pfvlsewgdrt61.jpg?width=640&height=886&c

How they see the present, as prices begin a slide below $60,000

Sell your Bitcoin if you're going to be having a hemorrhoid every time Bitcoin drops. This is not a crash, not a plunge... This is nothing, and if you don't get that, you are going to be miserable owning Bitcoin.

> source:

 

Share this post


Link to post
Share on other sites

FULL: Bitcoin vs Gold Debate Michael Saylor & Frank Giustra - April 21st 2021 >

https://www.youtube.com/watch?v=CdKJLBPnOC8

( Video unavailable. This video is no longer available due to a copyright claim by Stansberry Research.)

Comments:

+ I am at 36 minutes, and I do hear Saylor addressing the Govt THREAT risk, which is real, and almost certainly inevitable

+ THREAT of Govt attack:  Saylor's rebuttal: "As soon as one govt buys BTC for their reserves, the price is going to rip."  So very telling, that he does not say "IF..."  He assumes away the risk! (Listen, people. Be discerning, do not be Buffaloed!)

+ Frank missed an important point.  BTC isn't scarce.  There are lots of near-identical clones, and it is easy to copy.  It is very possible that one of clones may one day get enough traction to beat the leader.  This point crushes Saylor's repeated claims about BTC's amazing technology,

Share this post


Link to post
Share on other sites

BEFORE the Debate, BTC was $61,000.  Now it is about $51,000. 

That's a  16% drop.  But "Saylor won", the Bitcoiners are saying. 

Hmm

Share this post


Link to post
Share on other sites

btc down to $33,000 after testing $30,000 - now near half the peak

i have shifted most of my remaining 5% of original btc position into bch

WjtB7wv.png

very limited volume in bch now

My own little obsession.  haha.  Not really recommending.  But percentage up move could exceed btc... if buyers come in.

At $457, bch is 72.3% below the peak near $1,650

 

Share this post


Link to post
Share on other sites

BALT INDEX

ntrw52Q.png

Bitmex has recently launch an Index - a Basket of Cryptos

Share this post


Link to post
Share on other sites

Is the Bitcoin Bounce over?

65k - 30k= 35k drop. 50% retrace= 17.5+ 30= 47.5k; 62% retrace= 21.7+ 30= 51.7k

Bitcoin... update: 4yr: Last $45k

95DmggE.gif

4yr: Last $47k

Bv2t6Xq.gif

ALL data

vBtD4n7.png

===

Share this post


Link to post
Share on other sites
On 8/19/2021 at 7:40 AM, drbubb said:

65k - 30k= 35k drop. 50% retrace= 17.5+ 30= 47.5k; 62% retrace= 21.7+ 30= 51.7k

; 62% retrace= 21.7+ 30= 51.7k

1EUSxG5.png

===

Share this post


Link to post
Share on other sites

That 51.7k was the level I calculated for the Countertrend rally. Which is done now, I reckon/  

Now we need a C wave down to $30K or even $20K

$20k Bitcoin is next after hitting $52k, Gareth Soloway’s target 

Soloway had previously called the top of $52,000, which was then the neckline of a head and shoulders pattern.

Now, he is calling for a pullback to even lower levels, as low as $18,000 to $20,000 a coin, before a bounce back.

The exception to this would be if Bitcoin tops $65,000, breaking the previous all-time high; only then, would upside momentum be confirmed, Soloway told David Lin, anchor for Kitco News.

“We’re seeing a follow-through today. We haven’t really taken out the low-pivot from that down day, that’s the technical level I’m watching right now. If that gets taken out, then you’re likely going down to the $40,000 to $41,000 level right here, and then all the way down to $30,000. You guys know my longer-term projections…eventually you’re going to get to the $18,000 to $20,000 marker on Bitcoin,” he said.

On the stock markets, it’s unlikely the S&P 500 will make new highs from here for the foreseeable future, Soloway said.

“One of the big technical things here is that this market has for the first time, since March of 2020, when the low was put in, it has made a lower low. That is a fundamental change in the trend of the market,” he said

> https://www.kitco.com/news/2021-09-20/-20k-Bitcoin-is-next-after-hitting-52k-Gareth-Soloway-s-target.html

Share this post


Link to post
Share on other sites

Bitcoin back below $33,000 - Cut in Half!

Bitcoin futures ... 2020update / Last: 32,840 - $3,085 / 52 week range: $28,800 - $69,355.

VEiIUr6.gif

Share this post


Link to post
Share on other sites

LAsljEP.png

A Beautiful clear chart!  Covered 3/4 of my hedge in this last slide. 

If the channel holds, this will be the perfect time to be long again.   Boosted my BTC by about 50%, by shorting higher to hedge the drop we have seen now.

Longer Term, back to 2016

nUkdAbC.png

Suggests further potential downside to $20,000 maybe

Bitcoin's crash won't stop until $20k, can gold and silver survive? Northstar & Badcharts

==
BTC 5yr chart / Last: $28,600
lsZOdnu.gif
BTC looks like it might be headed to $20,000 (eventually) on this chart too.
 
Shorter term, there may be decent support between $26-27,000 ... 10d / Last: $27,050
msLLkjW.gif

Share this post


Link to post
Share on other sites

LUNA CRASHES -97% !   in one day

DliKxn7.png

The collapse of Alt-Cryptos like LUNA has been truly stunning!  In 2 days from $60 to $0.42... and lower

BOT - took tiny Crypto positions as follows:
ETH ,  ave. price: $1855 . Now:$1849
LUNA ave. price:   0.235.            0.257     
LUNAUSDT Perpetual : USDT 20x    0.257 -97.00% $4.67M vol.

Luna Nosedives Under $2, Loses 98% Of Its Value As TerraUSD Struggles To Regain Its Dollar Peg   /   

Following a day in which teetering stablecoin TerraUST (UST) bounced around $.90, it resumed its free-fall overnight to approach $0.30 before recovering partly to $.43 this morning.     ... LUNA is down a staggering 98% in the past five days, which has seen its market capitalization lose $25 billion this week.  Today attention will focus on whether the Luna Foundation Guard, led by founder Do Kwon, will be about to recover from this downward spiral. The Block reported yesterday that the team was in talks to obtain $1 billion in additional collateral from unnamed hedge funds and market makers. However, that has not come to fruition.

This morning, Kwon expressed support for a new community-driven plan that will mint additional LUNA in an effort to absorb the excessive UST sell-pressure. However, even if this succeeds, it will likely require LUNA’s biggest backers, which include prominent crypto shops such as Pantera, BlockTower, and Galaxy to endure additional haircuts. 

> https://www.forbes.com/sites/stevenehrlich/2022/05/11/luna-nosedives-under-2-loses-98-of-its-value-as-terraust-struggles-to-regain-its-dollar-peg/?sh=162311244c1f

Share this post


Link to post
Share on other sites

It has been a bloodbath week, as some called it, for the crypto market.

Stablecoin USDTerra, or UST USTUSD, 21.42%, once among the top 10 largest cryptocurrency by market cap, lost its 1 to 1 peg against the U.S. dollar, falling to as low as 6 cents on Friday, according to CoinDesk data. LUNA LUNAUSD, 62.50%, another cryptocurrency backing UST, fell nearly to zero from over $80 in early May, with its market capitalization shrinking by more than $40 billion from early April.

It marks “the largest wealth destruction event in the short history of the crypto markets,” since bitcoin was created in 2019, crypto trading firm QCP Capital wrote in a Friday note.  

> https://www.marketwatch.com/story/crypto-winter-for-the-summer-how-a-bitcoin-market-in-extreme-fear-compares-with-the-past-and-what-to-expect-next-11652478402

im-544287?width=700&size=1.7777777777777

Cryptocurrency luna crashes to $0 as UST falls further from dollar peg  

The sister token of controversial stablecoin TerraUSD is now basically worthless.

Luna plunged to $0 Friday, according to data from CoinGecko, marking a stunning collapse for a cryptocurrency that at one point was worth more than $100.
The demise of controversial stablecoin venture Terra has resulted in a meltdown in the crypto market, which erased billions of dollars in value in a single day.
TerraUSD or UST, is supposed to be pegged one-to-one with the U.S. dollar. UST has however lost its peg and on Friday was trading at around 12 cents, according to data from CoinGecko.

Bitcoin staged a rebound on Friday, jumping above $30,000 despite the ongoing woes ... 

> https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html

Share this post


Link to post
Share on other sites

BITCOIN CYCLES

Downturn seems not done yet, based on timing and extent of retracement

MlriiMZ.png

Bitcoin Futures ... All: 2yr: 1yr: 10d / Last: 29,765  52 wk.: 28,105. to 69,355.

QGsUg3c.gif

===

Share this post


Link to post
Share on other sites

(why did this "billionaire" never learn to read a cyclical chart like the one above )

Will Bitcoin Billionaire Investor Michael Saylor End up at McDonald's?

The MicroStrategy CEO and biggest corporate owner of bitcoin is HODLING for the long haul, come bull or bear market.

saylorinmcdonalds-1200x675.jpg.webp

The reason MicroStrategy is so long on bitcoin is because its 57-year-old billionaire CEO, Michael Saylor, had an epiphany in 2020, when COVID-19 had shut down most of the country. Bitcoin, he tells me, "is an approximation of a perfect monetary system because it is correct. It has no inflation in it. It's not corruptible because it's decentralized." He believes bitcoin is the last, best hope of creating an economy that is independent of the machinations of politics, central banks, and connected investors who rig the system to benefit themselves at the expense of regular people.

While the economy tanked due to external factors, Saylor directed MicroStrategy to keep buying bitcoin regardless of the price. The company is committed to "hodling" for the long term, a position Saylor believes in now more than ever as inflation takes hold. 

And he's still saying that today, even as bitcoin has slid down to just $31,000 as I write this—down from its peak of almost $68,000 last November.

The video version of Reason's interview with Michael Saylor.

> https://reason.com/podcast/2022/05/11/will-bitcoin-billionaire-investor-michael-saylor-end-up-at-mcdonalds/

Share this post


Link to post
Share on other sites

Bitcoin vs. Gold

Bitcoin vs. Gold and GLD ... from 5.12.17: 12.25.205yr: 3yr: 2yr: 1yr: 10d/ $29.765 / $1812 = r16.4, / $169 = r176.1

tU10AdL.gif

: 12.25.205yr: 3yr: 2yr: 1yr: 10d/ $29.765 / $1812 = r16.4, / $169 = r176.1

QGhmSZ3.gif

Bitcoin to Gold Ratio is "well-behaved" and a BUY at r-15.0

pmPCgA6.png

===

Share this post


Link to post
Share on other sites

COVERED  BTC short at $19,123, and Bought ETH at $1,004

Is this the End or the Beginning of the Crypto Meltdown

Why MicroStrategy Did Not Receive A Margin Call Even Though Bitcoin Fell Below $21,000

MicroStrategy bought vast amounts of Bitcoin using a combination of debt and cash since 2020. Their average price of holding is $30,700, and now the price of Bitcoin is $20,443. But despite that, they have not yet faced margin calls.

The company has been buying Bitcoin since 2020 using a combination of debt and cash. In March 2022, MicroStrategy took a $205 million loan from Silvergate Bank to buy BTC.

The interest-only loan was given to MacroStrategy LLC, a subsidiary of MicroStrategy, which is listed on the Nasdaq stock exchange, New York, and was secured by BTC as collateral. The company had 129,218 BTC at an average price of $30,700 as on March 31, 2022.

> https://www.outlookindia.com/business/why-microstrategy-did-not-receive-a-margin-call-even-though-bitcoin-fell-below-21-000-news-203130

Share this post


Link to post
Share on other sites

Bitcoin Futures ... update: Friday: $20,625 .  Sat trading OTC: $18,815 Low (so far)

g2v9uTU.gif

Different channel follows

4ids22v.gif

ETHE / Grayscale Ethereum Trust... update: $7.08 x 149.5 = ETH-$1060:  $7.08/ 0.660 = $10.72 x99. = $1060

High: $47.40 x102.8= ETH-$4,873... last ETH: $1,000 /149.5 = $6.69

LQ2tjPu.gif

ETHE Discount or Premium to NAV - YChartsx

Is Grayscale ethereum trust trading at a discount?
ETHE Discount or Premium to NAV: -33.41% for June 13, 2022.
 
mtr1j5N.png

Discount/Premium to NAV Definition

The discount/premium to NAV is a percentage that calculates the amount that an exchange traded fund or closed end fund is trading above or below its net asset value. This metric can be a valuable metric to track how far away a security is trading away from its true value. This is an important metric for closed end funds specifically because CEFs don't issue any additional shares after its initial offering. This can cause the price to stray away from the true net asset value of the holdings in...

Share this post


Link to post
Share on other sites
Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×