Monitoring the Crypto Bubble

[mmm....shiney!]

What do you think about the Mt Gox settlement? Potential 150,000 bitcoins to be sold...

https://cointelegraph.com/news/mt-g...meaning-creditors-could-soon-receive-billions

Sold or returned?

Initially, without looking into it in any meaningful way the creditors lost 850 000 of which 200 000 have been recovered, and 150 000 are going to be redistributed to creditors with the remainder likely kept by counsel or whatever.

This bit is probably what you're hinting at:

There have been some concerns that the compensation will subsequently result in a sell-out, that could cause a price shock. These investors could potentially dump their holdings, cash out, and that this could send the price tanking.

https://beincrypto.com/mt-gox-bitcoin-rehabilitation-plan-approved-tokyo-court-confirmation/

So there is concern that early adopters of BTC who entered the market in pre-2014 likely based solely on the fundamentals when the price of BTC was circa USD750 or less and had in all likelihood written off that asset would take some cash off the table now in the middle of a bull-run under the current economic climate rather than thank their lucky stars that their early adoption amounted to nothing?

Nah.

 

[TreasureHunter]

Could break 66k today. The trajectory is still pointing up pretty strongly.
All time high has been crushed.

"COULD" and that means either up or down. I agree that it's highly likely that it will reach 100,000 $ one day. Either soon or later. But a strong correction could also happen.

20 k, 40 k, 50 k all would be great buying opportunity.

 

[JohnnyBravo300]

True dat!
I'd rebuy at those prices. 20k would be a big drop for sure.

 

[TreasureHunter]

^
Just slipped sub-63 k. Just a tiny dip or the cascade sell-off has started?

It's a historical high, so I would expect many (lucky people) to sell... and buy yachts, villas and spend the rest on hookers and booze

 

[heartastack]

The battle to flip resistance into support is epic

 

[TreasureHunter]

^
Just over 60,600 $. Might be taking THAT DIP.

I'm very curious whether it will rebound immediately or go much lower. This could lead to a major correction?
I would call it major if it dipped to around 30-35 k. If so, it might be the last time anyone can buy sub-50 k.

I wonder what Peter Schiff would say when Bitcoin slams through 100 k...

 

[precious roar]

I'd say you are better off not considering what Peter Schiff would say about anything.

 

[LiverBird]

I'd say you are better off not considering what Peter Schiff would say about anything.

BUT, he was the only person to predict the US housing market crash in 2008. Didn't you hear?

 

[alor]

120k still 50% up from here

 

[TreasureHunter]

BUT, he was the only person to predict the US housing market crash in 2008. Didn't you hear?

Countless people claim to have predicted it. There are many heroes after any war.

But Peter Schiff really did predict it, there are videos that prove this thing.

 

[JohnnyBravo300]

Looks like Shiba forming a bull pennant and might break out. I might have to check that one out. Never know when a random coin might gain a bunch.

Nice call! Up 20%!

 

[JohnnyBravo300]

Definitely an uptrend going on and a step back here or there is likely I'm sure as we are seeing now.
Little pullbacks like this during uptrends are bullish and healthy.

Hopefully this next ride is a nice fat one! I'm excited!!!

 

[TreasureHunter]

As Bitcoin and Ethereum started going down in price, Dogecoin started increasing. (Slight movements, but might be a signal).

Could this mean that now those who sold-off BTC and ETH are pumping DOGE?

 

[JohnnyBravo300]

Hopefully they didnt sell off their btc and eth haha. Its hodl time again!

 

[TreasureHunter]

^
I think they are selling some of their holdings (who wouldn't at this time) and buy something else:
- gold and silver
- Dogecoin, Ravencoin etc.

...& pump those, then dump.

And repeat, repeat, repeat.

The entire back & forth push-pull will lead to an overall price increase for all major cryptos.

 

[JohnnyBravo300]

I initially had planned on buying metals with crypto winnings but I've been reinvesting it instead.
The two are at opposite ends of the spectrum from an investment perspective to me.

 

[Polar.bear.Stacker]

I initially had planned on buying metals with crypto winnings but I've been reinvesting it instead.
The two are at opposite ends of the spectrum from an investment perspective to me.

I'll be cashing out in gold and btc. If gold goes up by a lot, I'll reverse it

 

[TreasureHunter]

I'll be cashing out in gold and btc. If gold goes up by a lot, I'll reverse it

Cashing out from what?

 

[Polar.bear.Stacker]

Sold my eth when it dipped. Will cash out fantom and solana whenever I think it's topped

 

[mmm....shiney!]

I used to enjoy "Tales From the Crypt", especially when they delved into the tech stuff, then the last couple of times I tuned in it was bitter politics so I don't follow him any more.

The "Conspiracy Case" @5:45 against BTC is an interesting take though. Lepard makes the case that governments manipulate the price of gold by operating offshore bank accounts and using their unlimited balance sheets to short the POG. He suggests that governments could do the same to BTC.

Of course he admits he has no proof, he suspects that governments have unlimited balance sheets (which they actually do) but the offshore bank account bit is a little tinfoil to my way of thinking. If you look at the CB balance sheets, there is no evidence at all that they manipulate the POG so the theory relies entirely upon them operating offshore accounts.

Then you'd have to ask what purpose it would serve to manipulate the market in gold or BTC? Governments with unlimited balance sheets that have a monopoly on the issuance of sovereign fiat and create tax liabilities in that same fiat have no need to hold gold or BTC, discourage the ownership of either (except maybe to protect their mates in which case it would be simpler to outlaw the ownership of those assets) and therefore have no need to manipulate the price of either asset.

Gotta agree with his views on leveraging to buy BTC lol but then he calls for the margin trading platforms to be closed down?