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Thread: Bitcoin

  1. #661

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    Default Re: Bitcoin

    Agree there.

    Despite the bullish setup in bitcoin over the past month, I can see this IPO causing a breakout that doesn't hold. Insiders have been looking to unload that IPO for years and that could have negative effects.

    I've been with Coinbase since 2016, too bad they didn't give members the opportunity to purchase shares at the IPO price.

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  3. #662

    Default Re: Bitcoin

    Quote Originally Posted by Bullitt View Post
    too bad they didn't give members the opportunity to purchase shares at the IPO price.
    Yeah, good point.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  5. #663

    Default Re: Bitcoin

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  7. #664

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    Default Re: Bitcoin

    Bitcoin getting hit on crackdown talk. At around 55,000 right now.

    https://finance.yahoo.com/news/bitco...094926937.html

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  9. #665

    Default Re: Bitcoin

    Another test of the 50-day EMA?

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  11. #666

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    Default Re: Bitcoin

    Why the drop?

    Quote Originally Posted by tsptalk View Post
    Another test of the 50-day EMA?

    Weatherweenie's Account Talk
    Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Expected retirement date: November 2023


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  13. #667

    Default Re: Bitcoin

    Quote Originally Posted by weatherweenie View Post
    Why the drop?
    From bullitt.

    Quote Originally Posted by Bullitt View Post
    Bitcoin getting hit on crackdown talk. At around 55,000 right now.

    https://finance.yahoo.com/news/bitco...094926937.html
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  15. #668

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    Default Re: Bitcoin

    Plain ol manipulation: 'After a bitcoin crackdown, China now calls it an ‘investment alternative’ in a significant shift in tone'

    Weatherweenie's Account Talk
    Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Expected retirement date: November 2023

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  17. #669

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    Default Re: Bitcoin

    There were also rumors that a large holder unloaded shares.

    https://dailyhodl.com/2021/04/17/wha...ds-are-headed/

    One thing about markets is we feel there is always an explanation for moves up or down. Rarely do they make any sense. Most of the time, a move happens first, then a headline is plucked that purportedly explains it. Maybe someone decided the Coinbase IPO marked some psychological top.

    Long term, China wants crypto to avoid US sanctions via SWIFT. Take a look at what is happening with semi-conductors. China steals our technology, builds their own with slave labor, then floods the market with it. Recent sanctions on Chinese semi-conductors could be avoided with crypto transactions.

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  19. #670

    Default Re: Bitcoin

    Guggenheim’s Scott Minerd warns bitcoin could plunge 50% near-term — ‘things are very frothy’

    KEY POINTS

    Bitcoin is “very frothy” and could see a “major correction” in the near term, Guggenheim Partners’ Scott Minerd told CNBC on Wednesday.

    “I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline,” he said.

    However, Minerd said he remains bullish over the long run, predicting an eventual rise to $400,000 to $600,000.
    https://www.cnbc.com/2021/04/21/bitc...chterm=bitcoin
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  20.  
  21. #671

    Default Re: Bitcoin

    Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000

    KEY POINTS

    Bitcoin and other digital coins plunged on Friday, wiping over $200 billion of the value of the cryptocurrency market.

    President Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4%, including a surtax.

    That’s led to a wave of selling in crypto markets, which have had a great year with bitcoin climbing more than sixfold in the last 12 months.
    https://www.cnbc.com/2021/04/23/bitc...urrencies.html
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  22.  
  23. #672

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    Default Re: Bitcoin

    Bear case:

    With a sudden weekend sell-off leaving bitcoin traders and investors reeling, JPMorgan analysts have warned that if the bitcoin price doesn't regain ground above $60,000 soon, bitcoin's momentum signals will collapse.
    https://www.forbes.com/sites/billyba...h=18714da551af

    Bull case:

    Current models show BTC could reach a staggering $400,000 this cycle. “The technical outlook for Bitcoin in 2021 remains strongly upward, if past patterns repeat. Common companions for strong annual rallies in the first-born crypto – low volatility and halvings – are aligned favorably.
    https://dailyhodl.com/2021/04/09/bit...mberg-analyst/

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