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Re: Bitcoin clears 20k [Re: white17] #7192355
02/22/21 02:45 PM
02/22/21 02:45 PM
Joined: May 2010
Posts: 9,046
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 9,046
mn north of blakely
Originally Posted by white17
I agree Steven. It still could and with good reason IMO.

So you view it as a hedge against the dollar ? I can see that but I think there are better hedges with much less volatility.


A little volatility today lol.

There is only one true hedge against the dollar.

My biggest gear in cryptos is governments and central banks.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192357
02/22/21 02:52 PM
02/22/21 02:52 PM
Joined: Mar 2007
Posts: 33,529
McGrath, AK
W
white17 Online content

"General (Mr.Sunshine) Washington"
white17  Online Content

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 33,529
McGrath, AK
LOL Yeah just a bit of vol !!




Yep I think the biggest liability is political


Mean As Nails
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192367
02/22/21 03:06 PM
02/22/21 03:06 PM
Joined: Nov 2011
Posts: 947
Pennsylvania, 1B
PaRay Offline
trapper
PaRay  Offline
trapper

Joined: Nov 2011
Posts: 947
Pennsylvania, 1B
XRP & XLM Friends

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192373
02/22/21 03:12 PM
02/22/21 03:12 PM
Joined: Mar 2007
Posts: 33,529
McGrath, AK
W
white17 Online content

"General (Mr.Sunshine) Washington"
white17  Online Content

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 33,529
McGrath, AK
No thanks laugh


Mean As Nails
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192386
02/22/21 03:27 PM
02/22/21 03:27 PM
Joined: Aug 2010
Posts: 8,834
Asheville, NC
C
charles Online content
trapper
charles  Online Content
trapper
C

Joined: Aug 2010
Posts: 8,834
Asheville, NC
Downnn $4900 or over 8% as I write.

Re: Bitcoin clears 20k [Re: white17] #7192414
02/22/21 04:05 PM
02/22/21 04:05 PM
Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
SNIPERB🦝 Offline OP
trapper
SNIPERB🦝  Offline OP
trapper

Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
Originally Posted by white17
LOL Yeah just a bit of vol !!




Yep I think the biggest liability is political

Can't help but wonder how much Elon's statement affected this cryptos overall are down 9% over 24hrs

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192423
02/22/21 04:23 PM
02/22/21 04:23 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
trapper
DecoyMacoy  Offline
trapper

Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by SNIPERB🦝
Originally Posted by white17
LOL Yeah just a bit of vol !!




Yep I think the biggest liability is political

Can't help but wonder how much Elon's statement affected this cryptos overall are down 9% over 24hrs



0%

The media has a horrible need to ascribe reason for market movements.

Last edited by DecoyMacoy; 02/22/21 04:25 PM.
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192433
02/22/21 04:34 PM
02/22/21 04:34 PM
Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
SNIPERB🦝 Offline OP
trapper
SNIPERB🦝  Offline OP
trapper

Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
Been looking for articles all day and finally this pops up...

Quote
Bitcoin falls below $54,000 as derivatives positions worth over $1 billion are liquidated
by Yogita Khatri
February 22, 2021, 7:55AM EST ∑ 1 min read

The price of bitcoin has fallen below $54,000 from nearly $58,500 on Sunday as derivatives positions worth more than $1 billion get force liquidated by crypto exchanges.

About $1.50 billion worth of open interest was liquidated by crypto exchanges in the last 24 hours, according to tracker Bybt.com. In other words, crypto exchanges liquidated traders' overleveraged positions.

Traders overleverage, or trade on margin, thinking that bitcoin's price would go up and they would benefit more. But when bitcoin's price goes below the liquidation price of their positions, exchanges force liquidate or close their positions because traders cannot fulfill margin requirements of their leveraged positions.

"In the past weeks, a lot of accumulation on the long side happened, so traders should expect such correction events," Bitfinex CTO Paolo Ardoino told The Block, adding that such corrections are "normal."

Most of the liquidations occurred on Binance, followed by Huobi and Bybit. While in terms of crypto assets, bitcoin positions formed most liquidations, followed by ether (ETH) and XRP.

Bitcoin is currently trading at around $53,400, according to tracker TradingView. Meanwhile, ETH is trading at about $1,775.
t

Re: Bitcoin clears 20k [Re: PaRay] #7192437
02/22/21 04:36 PM
02/22/21 04:36 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
trapper
DecoyMacoy  Offline
trapper

Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by PaRay
XRP & XLM Friends


These things have done nothing but lose value in terms of BTC over longer terms. The only thing they accomplished was enriching the insiders who created them. HFSP

[Linked Image]
[Linked Image]

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192448
02/22/21 04:50 PM
02/22/21 04:50 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
trapper
DecoyMacoy  Offline
trapper

Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by SNIPERB🦝
Been looking for articles all day and finally this pops up...

Quote
Bitcoin falls below $54,000 as derivatives positions worth over $1 billion are liquidated
by Yogita Khatri
February 22, 2021, 7:55AM EST ∑ 1 min read

The price of bitcoin has fallen below $54,000 from nearly $58,500 on Sunday as derivatives positions worth more than $1 billion get force liquidated by crypto exchanges.

About $1.50 billion worth of open interest was liquidated by crypto exchanges in the last 24 hours, according to tracker Bybt.com. In other words, crypto exchanges liquidated traders' overleveraged positions.

Traders overleverage, or trade on margin, thinking that bitcoin's price would go up and they would benefit more. But when bitcoin's price goes below the liquidation price of their positions, exchanges force liquidate or close their positions because traders cannot fulfill margin requirements of their leveraged positions.

"In the past weeks, a lot of accumulation on the long side happened, so traders should expect such correction events," Bitfinex CTO Paolo Ardoino told The Block, adding that such corrections are "normal."

Most of the liquidations occurred on Binance, followed by Huobi and Bybit. While in terms of crypto assets, bitcoin positions formed most liquidations, followed by ether (ETH) and XRP.

Bitcoin is currently trading at around $53,400, according to tracker TradingView. Meanwhile, ETH is trading at about $1,775.
t



This is why the "crypto" narrative gets pushed so much. The exchanges, VC's, shatcoin insiders, etc want clueless retail "traders" swapping 100 useless tokens, with leverage so they can reap max profit. 99.99% of people have no business trading.

Very few VC's and insiders profit from the super simple and time proven "dollar cost average buys of bitcoin only and hold your own keys" - Yet nothing in the "crypto" (cringe) space has been (or will be IMO) better than this strategy.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7192668
02/22/21 08:39 PM
02/22/21 08:39 PM
Joined: Aug 2018
Posts: 218
South Dakota
M
M.S. Pickins Offline
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M.S. Pickins  Offline
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M

Joined: Aug 2018
Posts: 218
South Dakota
If any of you think the stock market is any different your kidding yourself.

Re: Bitcoin clears 20k [Re: M.S. Pickins] #7192756
02/22/21 09:28 PM
02/22/21 09:28 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
trapper
DecoyMacoy  Offline
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Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by M.S. Pickins
If any of you think the stock market is any different your kidding yourself.



Right. Imagine how silly our monetary system is that it requires us to prop up mega-corperations that hate our lifestyles and politics in order to preserve our wealth.

Re: Bitcoin clears 20k [Re: DecoyMacoy] #7192805
02/22/21 10:03 PM
02/22/21 10:03 PM
Joined: Nov 2011
Posts: 947
Pennsylvania, 1B
PaRay Offline
trapper
PaRay  Offline
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Joined: Nov 2011
Posts: 947
Pennsylvania, 1B
Watch and see, XRP and XLM is going to create a bunch of millionaires in the coming years

Last edited by PaRay; 02/22/21 10:04 PM.
Re: Bitcoin clears 20k [Re: PaRay] #7193522
02/23/21 04:21 PM
02/23/21 04:21 PM
Joined: Jan 2018
Posts: 154
West Virginia
C
Choo Offline
trapper
Choo  Offline
trapper
C

Joined: Jan 2018
Posts: 154
West Virginia
Originally Posted by PaRay
Watch and see, XRP and XLM is going to create a bunch of millionaires in the coming years

Well i hope it goes up, I bought a little XLM at .45 and a few more at .55. think ill buy a little while its in the 30's just so i can make up my loss. Maybe one day it will be worth a couple bucks a piece. I figure it wont hurt to gamble a couple hundred bucks. wish i had some when it was a couple cents a share.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7193883
02/23/21 10:27 PM
02/23/21 10:27 PM
Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
SNIPERB🦝 Offline OP
trapper
SNIPERB🦝  Offline OP
trapper

Joined: Dec 2006
Posts: 15,143
Rodney,Ohio
Only thing with ripple(XRP) at the moment is its current issues with the SEC. KInda need to see what happens with that. Once those issues are cleared things might improve there. XRP is still cant be traded on Coinbase.

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7193896
02/23/21 10:36 PM
02/23/21 10:36 PM
Joined: Jun 2012
Posts: 2,839
KY.usa
rex123 Offline
trapper
rex123  Offline
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Joined: Jun 2012
Posts: 2,839
KY.usa
Do you think riot is worth buying?

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7193933
02/23/21 10:59 PM
02/23/21 10:59 PM
Joined: Feb 2011
Posts: 377
alberta
S
spjones Offline
trapper
spjones  Offline
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S

Joined: Feb 2011
Posts: 377
alberta
Not really crypto related, but sort of

If you look at the SPY chart. It shows a very distinct ascending wedge pattern. The tip of the wedge appears to meet in the very near future. Couple days, maybe a week.

When it meets, itís generally very bad news for the markets.

Proceed with caution

If they finally pass the stimulus package, disaster averted

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7194238
02/24/21 09:45 AM
02/24/21 09:45 AM
Joined: Mar 2007
Posts: 33,529
McGrath, AK
W
white17 Online content

"General (Mr.Sunshine) Washington"
white17  Online Content

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 33,529
McGrath, AK
I think if/when the stimulus bill passes we will see a sell off , not a rally. But I think, in the long run we will see 4450 or thereabouts on the S&P by year end. It won't be fun getting there though.


Mean As Nails
Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7195879
02/25/21 06:11 PM
02/25/21 06:11 PM
Joined: Feb 2011
Posts: 377
alberta
S
spjones Offline
trapper
spjones  Offline
trapper
S

Joined: Feb 2011
Posts: 377
alberta
Reading charts is almost as fun as reading critter sign

Just a lot more profitable

Re: Bitcoin clears 20k [Re: SNIPERB🦝] #7195887
02/25/21 06:28 PM
02/25/21 06:28 PM
Joined: Dec 2010
Posts: 174
Southeast, Alaska
S
SE.Current Offline
trapper
SE.Current  Offline
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S

Joined: Dec 2010
Posts: 174
Southeast, Alaska
Had to look away from the red lines. Good day to untangle the scrap wire and start to strip off the insulation.

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