Monitoring the Crypto Bubble

Where do you think we are in the crypto bubble?

  • Total voters
    146
2ozNoRj.gif
 
Yes, a buying opportunity that's for sure.

Bitcoin down 7% for the day and 10% for the week, if that's not a bargain then I don't know what is.

Shiney had already purchased another 1/100 bitcoin with the money that was raised for his retirement.

Word on the street is that one of the whales (Elon Musk) is selling, once the CBDC is ready to be
rolled out worldwide all the whales will be told to dump and the price will crash to next to nothing,
so all the plebs will be wiped out and forced onto the new system.

c3549d16 (2).gif
 
Last edited:
I'm still waiting for 15k or less. It's more of a Gamestop play since it's not really an asset.
 
Last edited:
Below is what Bob Loukas had to say on X.

New #bitcoin highs makes this Week 19 high (previously Week 4) for 26 week Cycle. Right Translated. Strange looking cycle, but can't argue with it. Puts sub $25k retracement in very unlikely camp now. All bets off now. It's acting like more than handful know the ETF results.

F9KYvFOXcAA86oS
 
mmm....shiney! said:
Pending ETF approval driving price moves:
...
Click to expand...

Also anticipation of the next halving event expected around April 2024. Doesn't hurt that Larry Fink (Blackrock) has been talking it up and mainstream investment advisors (Morgan Stanley, Jefferies) are starting to recommend it.

https://www.morganstanley.com/artic...icle&et_mid=518120&et_mkid=&sfmc_id=175970051

https://www.kitco.com/news/2023-10-...commends-10-allocation-for-pension-funds.html

https://www.coindesk.com/markets/20...-bitcoin-and-gold-as-geopolitical-risks-rise/

https://www.crypto-news-flash.com/b...reedom-as-bitcoin-etf-approval-inches-closer/
 
I have the next resitance level at 36,400 to break through and then the next major level, 50% high to low at 42,100.
Agree with you that there will need to be a healthy pullback. Where I differ with your chart, I don't see the pullback being as severe wiping out most of 2023 gains.
I would expect a 50% retracement from the high once the momentum drops of. At present it is gaining momentum for the next leg up IMHO.

upload_2023-10-26_14-2-13.png
 
WARNING: EXTREME BULLISHNESS FOLLOWS - DYODD

... According to Stephan Livera, Host of the Stephan Livera Podcast and Head of Education at Swan Bitcoin, the latest rally is just the beginning before a massive bull run that will peak at around $500,000.
...
Livera sees Bitcoin trading around the $30,000 level in the short term and then slowly rising to the $40,000 level into next year's halving. Following the halving, he predicts a drop, followed by the next bull run.
...
"Historically, what we've seen around the halving is a bit of a rise into the halving, then a bit of a selloff after. Six to 12 months out, that's when the real crazy bull run happens, and you get 10x or 20x in the Bitcoin price at that point," Livera described.

At the end of 2024, he added that Bitcoin will likely kick off a massive rally that will see "violent moves up," peaking at around $500,000 in 2025 or early 2026.
...
Click to expand...


https://www.kitco.com/news/2023-10-...rash-This-is-the-timeline-Stephan-Livera.html
 
As I understand it, the timeline looks to be:

January 10 - SEC ruling on ARK Invest's BTC ETF (the first BTC ETF ruling on their schedule) comes due.

March 15 - SEC ruling on Blackrock's BTC ETF comes due.

April ?? - BTC halving estimated to happen around this time

Next year is looking like it's going to be a wild ride for crypto.
 
A mish-mash of tid-bits:
Ethereum’s Dencun upgrade, likely to take place in first-quarter 2024, is the next step in the blockchain’s journey to becoming a scalable settlement layer, Goldman Sachs (GS) said in a note Thursday.

“Dencun’s primary impact will be to increase its data availability for layer-2 rollups via proto-danksharding, resulting in a reduction of rollup transaction costs which will be passed on to end users,” the bank said.
...
“Dencun will enhance Ethereum’s scalability via rollups,” and will “optimize gas fees and improve the network’s security and implement a number of housekeeping updates,” the report added.
Click to expand...

https://www.coindesk.com/tech/2023/...rd-a-scalable-settlement-layer-goldman-sachs/

Gas fees are the biggest impediment to Ethereum's growth (and a reason that challengers like Solana are finding room to grow). I don't know if this update will completely solve Ethereum's issue, but even partial progress is going to be good for Ethereum.

~~~

Lost in the media noise about Druckenmiller's criticisms of Janet Yellen at the recent conference with Paul Tudor Jones is this bit of Bitcoin related discussion:
Billionaire investor Stanley Druckenmiller has become the latest veteran of the financial industry to speak positively about Bitcoin (BTC), likening the top crypto to gold and saying that it has now established itself as a brand that could survive for a long time.

Druckenmiller made the comments during an interview with fellow hedge fund manager Paul Tudor Jones, confessing that he is experiencing a serious case of FOMO (fear of missing out) after missing out on buying Bitcoin at lower levels.

“I don’t own any Bitcoin, to be frank, but I should,” he said, hinting at a possible shift in his investment strategy.
...
While veteran investors have traditionally turned to gold and silver and times like these, the younger crowd has taken a liking to Bitcoin, which Druckenmiller said is a trend that is not likely to end anytime soon.

“I’m 70 years old, I own gold,” he said. “I was surprised that Bitcoin got going, but you know, it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with; 17 years, to me, it’s a brand.”

While gold remains the personal choice for Druckenmiller, he acknowledged that younger investors with value to store are increasingly opting for Bitcoin in the digital age.

“I like gold because it’s a 5,000-year-old brand, but the young people have all the money, certainly the ones on the West Coast,” he said.

Acknowledging that he “should” hold Bitcoin is evidence that the investing landscape is beginning to shift towards the younger generations that grew up as digital natives and are looking to upgrade the way they make payments.

He also noted that he had previously held Bitcoin but sold it in response to tightening measures imposed by central banks. He said people could turn to blockchain and digital assets if they lose faith in the central banking system, praising the technology and highlighting the potential for a ledger-based system to replace the USD as the world’s reserve currency.
...
Click to expand...

https://www.kitco.com/news/2023-10-...t-could-rival-gold-Stanley-Drunkenmiller.html

~~~

Bold emphasis is mine:
...
That Saylor is a bitcoin bull will not exactly come as breaking news, but he took note of a number of specific near- to medium-term catalysts.

First among them is what's soon be a sizable reduction in supply coming alongside a surge in demand. Bitcoin miners, said Saylor, need to sell bitcoin in order to keep the lights on, and he noted those sales are currently running at about $1 billion per month. The halving – expected to occur in April 2024 – however, means miners will soon have only half of that available to sell.

"You're going to see $12 billion of natural selling per year converted into $6 billion of natural selling per year," he said. At the same time, he noted, spot bitcoin ETFs are going to be a source of increased buying pressure.

Secondly, there are soon to be new rules implementing fair value accounting for company bitcoin holdings. "Long term," said Saylor, "this is going to open the door for corporations to adopt bitcoin as a treasury asset and create shareholder value with their balance sheets."
...
Click to expand...

https://www.coindesk.com/markets/2023/11/02/heres-why-bitcoin-will-10x-from-here-michael-saylor/

I wasn't aware of any Bitcoin accounting rules change. Interesting.
 
pretty such that’s the ‘least in his mind’ in jail….he’s more likely to be worried in shower cubicle…cause pretty sure there are ppl lost money cause of him.
 
...
According to a post from X (formerly Twitter) user Summers, BlackRock is now looking to launch a spot Ether ETF. “The iShares Ethereum Trust has just been registered in Delaware,” they wrote.

“For context, BlackRock's iShares Bitcoin Trust was registered in a similar manner 7 days before they filed the ETF application with the SEC,” Summers added.

Bloomberg Intelligence ETF analyst James Seyffart confirmed the filing cited by Summers but stopped short of saying that BlackRock made the filing.

“Multiple people asking "is this real" -- yes it’s real,” Seyffart said. “An entity with this name was indeed registered in Delaware. That's all we can really confirm at this time. Those images are real and from the State of Delaware website.”
...
Click to expand...

https://www.kitco.com/news/2023-11-...t-BlackRock-has-filed-for-a-spot-ETH-ETF.html

https://twitter.com/SummersThings/status/1722630271013675199
 
Here is one that I bought into.
PYTH is an oracle on the Solana Network that has only been listed for a few days.

 
markcoinoz said:
Here is one that I bought into.
PYTH is an oracle on the Solana Network that has only been listed for a few days.

Click to expand...
I dislike InvestAnswers. He was a huge solana shill back in 2021, which is fine because everything was going up. But then he had Alex Machinskey from Celsius on his platform a few days before they froze withdrawals and was promoting buy the dip all the way down in 2022. No credibility imo.
 
You must log in or register to reply here.
Back
Top