Bitcoin

[Bullitt]

Bitcoin down almost 15% from yesterday's big high. Seems coinbase is having trouble right now, likely due to increased site traffic.

coinb.JPG

Don't worry folks, it's going to 100,000, so this just a small bump. Buy the dip in the parabolic rise up because the future for bitcoin is perfect. Nothing could possibly go wrong from here. (Sarcasm, ROFL).

[bmneveu]

Don't worry folks, it's going to 100,000, so this just a small bump. Buy the dip in the parabolic rise up because the future for bitcoin is perfect. Nothing could possibly go wrong from here. (Sarcasm, ROFL).

Hey now, people were sarcastically saying it would go to $40K only a few months ago!

[Bullitt]

Cramer gives his opinion. He also added that he wouldn't buy it over 20,000. I'm guessing he bought at 20,000 and sold at 40,000.

“the more people who give it [bitcoin] a higher price … the more likely it is that there will be more people come in.”

Cramer additionally shared: “I sold enough bitcoin yesterday to pay for my initial stake, which is what I would do if it’s a stock. I take out my basis and then I let it run.” He added: “I am not going to look at bitcoin again. I’m fine with bitcoin until it comes all the way back to where I bought it and then I will refigure, maybe buy it again.”

https://news.bitcoin.com/mad-moneys-...st-in-bitcoin/

[Bullitt]

High profile hedge fund starts crypto fund. Looks like the fund will consist of around 10% of funds under management.

SkyBridge, a fund of hedge funds, on Monday announced it had started the Skybridge Bitcoin Fund with $310 million in assets under management invested from its $3 billion flagship fund.

https://www.reuters.com/article/uk-u...-idUSKBN29921E

[Tsunami]

Cramer speaks of bitcoin's scarcity as a reason for it's increasing popularity. Speaking of scarcity, an estimated 20% of bitcoin is lost forever due to careless owners...
https://www.nytimes.com/2021/01/12/t...-fortunes.html

I'll stick with trading GBTC, riding the waves. My latest trade was just one day, buying 1000 yesterday at 36.31 and selling today at 38.50. Cha ching.
I've never held it more than 15 days, and usually it's only 2 or 3 days, and somehow I've never yet been caught up in a big plunge, knock on wood.

It's super stretched right now, way above the Bollinger bands still, so I sure wouldn't just blindly hold it right now.
https://stockcharts.com/h-sc/ui?s=GB...86&a=693978923

[Bullitt]

Speaking of scarcity, an estimated 20% of bitcoin is lost forever due to careless owners...

I remember hearing that around the last big bubble ramp and I believe it.

Also, there's an issue of ownership. Think all those large scale, nation funded miners who have had access to free energy the past five years.

About 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency’s blockchain control 95% of the digital asset, according to researcher Flipside Crypto.

https://www.bloomberg.com/news/artic...g-during-rally

[bmneveu]

I'll stick with trading GBTC, riding the waves. My latest trade was just one day, buying 1000 yesterday at 36.31 and selling today at 38.50. Cha ching.
I've never held it more than 15 days, and usually it's only 2 or 3 days, and somehow I've never yet been caught up in a big plunge, knock on wood.

It's super stretched right now, way above the Bollinger bands still, so I sure wouldn't just blindly hold it right now.
https://stockcharts.com/h-sc/ui?s=GB...86&a=693978923

Lots of other crypto stocks these days now too. MARA, RIOT, CLSK. The list goes on. PayPal and Visa and JP Morgan are some large caps with skin in the game now too.