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Thread: Bitcoin

  1. #757

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    Default Re: Bitcoin

    Is that hammer going to be a floor or further downside?

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  3. #758

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    Default Re: Bitcoin

    Is that hammer going to be a floor or further downside?

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  5. #759

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    Default Re: Bitcoin

    Oof... long term buy and hold... crypto is volatile... keep telling myself these things... everything is going to be okay....

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  7. #760

    Default Re: Bitcoin

    Bitcoin is showing some life, moving back above $50K today after a rough month. Is this just a pre-holiday fake out, or a real breakout? If it's real, it looks like $53K may be the next obstacle.

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

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

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  9. #761

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    Default Re: Bitcoin

    Minor technical break of that 45,000 level today with next real support at 40,000. All those accounts buying on leverage aren't going to like higher interest rates.

    Now down 35% from it's peak, but don't worry, "this is normal behavior for crypto."
    Last edited by Bullitt; 01-05-2022 at 04:14 PM.

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  11. #762

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    Default Re: Bitcoin

    GS saying BTC could do a little more than double in five years.

    Bitcoin could get to $100,000 if its market share of the “store of value” market were to increase to 50%, estimates Goldman analyst Zach Pandl.

    Hitting $100,000 implies Bitcoin would see annualized returns of 17% over the next five years.
    https://www.barrons.com/articles/bit...ys-51641407311

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  13. #763

    Default Re: Bitcoin

    I've been buying GBTC and ETHE on the way down and it is starting to feel like a bottomless pit.

    GBTC is currently at a 20% discount to the price of bitcoin, although it has been at some discount since about last spring.

    https://ycharts.com/companies/GBTC/d...premium_to_nav
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

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

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  15. #764

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    Default Re: Bitcoin

    "It's an inflation hedge."

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  17. #765

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    Default Re: Bitcoin

    For those watching recent Kazahkstan events.

    Kazakhstan had also become in recent months a favored destination of Bitcoin miners who chose to leave China after Beijing’s recent crackdown on crypto assets. According to Cambridge University, it is only second to the U.S. for the amount of energy dedicated to crypto mining. The shutdown of the internet on government orders means that operations will have to cease for now, contributing to the fall in Bitcoin prices Thursday.
    https://www.barrons.com/articles/rus...ns-51641467131


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  19. #766

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    Default Re: Bitcoin

    Makes me think most of the buying here is on leverage in futures, GBTC and other trust funds where "owners" don't have their own keys.

    The increasing correlation is slowly wiping out the perception that Bitcoin can help diversify risk and act as a hedge against wild swings in other asset classes. It has also been moving inversely to the 10-year Treasury yield, dispelling its characterization as an inflation hedge.
    https://www.barrons.com/articles/thi...?mod=hp_LATEST

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