Can Bitcoin Break Out Above $20,000?

[PROFRBcom]

I would say the right comparison is not 200k vs $5k (due to the reasons you stated) but more 200k vs 0.
200k seems insane considering the amount of money flow it demands. although i read predictions higher than that (and from serious people).

Thinking about from few years perspective. this is just insane world. not mentioning that NFT thing when online painting sold for 70M. that's just nuts. Crazy world.

Yes, the NFT thing is ridiculous!

There certainly is a mania out there for crypto things and has been for years. There were companies on the stock markets around the world adding "blockchain" to their names, though they have zero blockchain technology, and seeing their stock increase 10x virtually overnight.

The world is too flush with "liquidity" and it is pouring into financial assets as a means of papering over the destruction of world economies. The printing presses are going full speed, I do not expect the inflationary tendencies of asset prices to recede any time soon.

It will pop one day, or explode in Zimbabwe-like inflation, perhaps both simultaneously somehow.

 

[Savant1203]

When I first heard about Crypto currencies was through an Economist article in 2011 and said to myself it would be wise to at least invest a small portion, just for the sake of it and see how it plays out.

Now I`m not willing to make the same mistake and have already purchased a NFT token and see where it leads me

 

[KasinoKing]

When I first heard about Crypto currencies was through an Economist article in 2011 and said to myself it would be wise to at least invest a small portion, just for the sake of it and see how it plays out.

Now I`m not willing to make the same mistake and have already purchased a NFT token and see where it leads me

It's ALL about timing!

Last week a mate gave me a tip-off about SAND - so I bought a bucket-load @ about $1.11 on October 30th...
... 5 days later it was up by more than 200%

Conversely, near the start of 2017 I sold 38 Bitcoins @ a little under $1,000 each...
Hindsight is a bitch!

KK

 

[bettingappguide]

BTC having a nice increase again.

Has anyone invested in any other decent crypto?

 

[KasinoKing]

BTC having a nice increase again.

Has anyone invested in any other decent crypto?

Yeah - as above: Sandbox - a gaming token.

I also bought the ones below which have done well:
Coin - Buy Price - Today's Price
Cardano (ADA) - $0.108 - $2.27
Binance (BNB) - $268 - $649
Funfair (FUN) - £0.0076 - $0.020
VChain (VET) - $0.044 - $0.186
Ripple (XRP) - $0.62 - $1.25
Ethereum (ETH) - $1,811 - $4,803
Crypto.com Coin (CRO) - $0.10 - $0.36

I have also lost a fair bit on Dash, VThor & SALT - but pretty small compared to the profits from the above.

KK

 

[bettingappguide]

Yeah - as above: Sandbox - a gaming token.

I also bought the ones below which have done well:
Coin - Buy Price - Today's Price
Cardano (ADA) - $0.108 - $2.27
Binance (BNB) - $268 - $649
Funfair (FUN) - £0.0076 - $0.020
VChain (VET) - $0.044 - $0.186
Ripple (XRP) - $0.62 - $1.25
Ethereum (ETH) - $1,811 - $4,803
Crypto.com Coin (CRO) - $0.10 - $0.36

I have also lost a fair bit on Dash, VThor & SALT - but pretty small compared to the profits from the above.

KK

Got some ETH, will take a look at the others

 

[KasinoKing]

Got some ETH, will take a look at the others

My "tipster" reckons ETH has some way to go yet - could be "the next Bitcoin"...?

As for the others: they have gone up a LOT since I bought them - so they could be near their peak? Who knows?
Personally I won't buy any more of them because I am worried they might fall in a big way - we've all seen that before!

KK

 

[TTR]

It's ALL about timing!

Last week a mate gave me a tip-off about SAND - so I bought a bucket-load @ about $1.11 on October 30th...
... 5 days later it was up by more than 200%

View attachment 3930

Conversely, near the start of 2017 I sold 38 Bitcoins @ a little under $1,000 each...
Hindsight is a bitch!

KK

i had 500btc in 2017 )))

 

[slotplayer]

Could be the end for a lot of crypto coins.

 

[TTR]

Could be the end for a lot of crypto coins.

Not could, this is the end.

Most of ppl use USDT or btc/eth, dont need any other coins.

But there is a good side, when crypto was at peak - comissions were super crazy, was hard to use it like payments, so for casino business better a lower price of btc/crypto than higher, normally players don't have money, they just buying crypto all the time.

Mb is bad for some highrollers, who came from crypto world, but for whole casino industry, cheap bitcoin - is way better!

 

[slotplayer]

Just withdrew any cash I still had in the exchange, you don't know if they're going to remain solvent.

 

[Kadabra]

if it's one of the big ones, bitstamp, kraken, etc - i see no reason why shouldn't they.

They were there when btc was xxx so no reason why shouldn't be now.

Not talking about various lending spaces which can indeed go down.

 

[slotplayer]

if it's one of the big ones, bitstamp, kraken, etc - i see no reason why shouldn't they.

They were there when btc was xxx so no reason why shouldn't be now.

Not talking about various lending spaces which can indeed go down.

They could just downsize and stay in business but Coinbase is laying off 18% of its workforce.

 

[xecutable]

if it's one of the big ones, bitstamp, kraken, etc - i see no reason why shouldn't they.

They were there when btc was xxx so no reason why shouldn't be now.

Not talking about various lending spaces which can indeed go down.

Feels like people are panicking as with every bear market. By the time they realize that this was the time to buy and not sell, it's too late, cause at that point everyone and their mother is buying and everything is in the green, 4-10x from where it originally started.

"But that's money I can't lose" - well yeah you were supposed to invest with money you COULD afford to lose.

"But there's such a high risk" - welcome to investments. If you are looking for a safER one, get a high yield savings account.

Overall nothing new, during these times, those who missed on cheap btc, those who don't even get it and those who just seek validation and recognition by coming out to say they told you so, that BTC is going to die, are at their peak. BTC has been proclaimed as dead 450+ times so yeah nothing new.

As for alt coins and nfts, a lot of them won't make it, not because they do not solve a problem or because they are bad. They won't make it because the majority of their holders are teenagers without an income, that are looking for a quick flip. The moment they don't see it happening they sell at a loss. Especially true for the Solana NFT scene, where I've been for the last 7 months, it's full of 'bros' that start and finish a sentence with 'bro', are still in high school, and have very limited to no education about basic stuff, including basic math.

On top of that, the entitlement they display that a given altcoin or nft project OWNS them profits is unbelievable. Pretty much the wild wild west, and as with everything it has to be purged, so there's room for everything to continue to evolve after the storm.

 

[Kadabra]

They could just downsize and stay in business but Coinbase is laying off 18% of its workforce.

Exactly, as any other company during down time. See really no reason why would any of the solid ones to go down.

 

[edgarf76]

Coinbase ($Coin) is tanking. Goldman Sachs downgraded it to a sell but upgraded Robin Hood to a buy? I am still bullish on $coin and bitcoin long term. From a technical analysis perspective, this 20K level on Bitcoin is very important to hold.

 

[xecutable]

If btc closes the month below the 200wma, which is around 22k$, we can expect a further down correction, 16k$ maybe even lower. Should be seen as an opportunity, rather than anything else.

 

[leah_shepherd]

If btc closes the month below the 200wma, which is around 22k$, we can expect a further down correction, 16k$ maybe even lower. Should be seen as an opportunity, rather than anything else.

I think that is possible but still, I know many people who are trying to buy more BTC now. They believe in its fast growth. I also think we will see a positive trend of course but not this year I guess.

 

[edgarf76]

BTC was down to 18K. I think it is safe to say we are officially in a crypto winter. One of the questions I have is how long does everybody think this bear market will last. Usually (stock markets) bear markets last around 2 years. Do you guys and gals think it will last that long? Do you think we are heading to 15K? Lower?

 

[xecutable]

It's expected to as this and perhaps the whole 2023. We have been officially in crypto winter for months now though. We failed to close above the 200wma which was 22,000$ and we've never had btc go down due to inflation. I'm in it for the long term, dollar cost averaging at the moment to have a good if not an excellent entry point once the rally comes back and everyone fomos in.

I would love to see some additional 50% btc correction (expected btw, a lot of the charts point sub 16k $ up to 12k ) and get a few more, and perhaps sub $600 eth next to a few other alt coins I have. As long as it's money you can afford to lose, which would not force you to sell at a time you shouldn't be selling but buying (like now) you are going to be okay.

As long as the price is only affected by those buying/selling on CEX (centralized exchanges like Binance FTX, Coinbase etc) and not by those who trade on the OTC (over the counter aka wallet to wallet), it's bound to be manipulated by the big players. Just check the top 200-1000 BTC wallets. They are all stacking massive amounts daily, which isn't affecting the price one bit.