Bitcoin 34000 US$ as of today!

[myshufflemix]

WTF Bitcoin reached 34,000 US$ per coin!

What do you think, when will the big drop come or do you believe it will just continue up until it reaches 50K, 60K or even more?

Reading from coindesk they explained the high demand of bitcoins comes from Institutions while in 2017 it was from noobs entering the cryptocurrency marked.

On top of this, there was this 5 billion US$ from Gugenheim and some larger million investments from smaller investment funds.

Any idea when this coin has reached it's climax?

 

[Davis123]

I personally think you ought to wait for a︀ retracement before you buy again. Bitcoin is a very risky investment and one should think︁ very carefully before investing in it at this stage.

 

[nomad999]

this is the chart from early 2017, look familiar ?
today we are roughly around‌ 80% above last ATH. this is were we are compared to the last bull run.‍ notice the graph only show up to 5000$.
the same move as 2017 would bring⁠ us today above 300k.
expect some major moves over 10-20k within a day coming in⁤ both direction, the fud and fomo is going to be unlike anything else, this is⁣ going to be epic !

my guess is the next psychological barrier is 100k and⁢ like 10k in 2017 we will blast through it like nothing before likely retracing massively︀ toward it, or perhaps not as much this time ...

"history doesn't repeat but it︁ often rhyme"

 

[Silvio]

I like your technical analysis @nomad999, but on the contrary I think BTC is‌ actually creating a different chart pattern...

Classic dinosaur pattern, projected target: $500,000 by 2 Feb‍ 2021

 

[Davis123]

Well I am very skeptic︂ of cryptos as any major shift by market makers could suddenly bring it down. There︃ are lot of powerhouses playing in this sudden rise of cryptos. Let's watch.

 

[nomad999]

was just pointing out what is happening now happened in 2017 almost identically and we‌ never retraced to the levels we are now, I can't wait to see the rest‍ of the story smi(&%

 

[void]

there is no "rest of the story"⁠ 😉, we are still early adopters and there are no limits

 

[nomad999]

so true hehe, if large institutions really‍ get in heavily this year any projection based on past price action will get absolutely⁠ destroyed upward to the no limit zone lol smi(&%

 

[Davis123]

Nice good luck. If you are in buy stay in⁠ buy only as that could shoot upwards like crazy. It's the call of major players⁤ right now who are simply speculators. For normal retail traders wanting to buy right now⁣ they need to wait. Problem with cryptos is it's decentralized and simply speculation based. When⁢ it went up to 19k plus a few years ago every bet was on 100k︀ plus and some 50k. It suddenly crashed down significantly within a few months.

 

[CaptK]

The question you have to ask is who are these funds buying coin from?
I don't see them buying from Coinbase, Binance or Kraken.

I'm going to give it till‌ Tuesday then cash out. Whatever happens I am happy with my gains.

 

[nomad999]

hmm my personal experience following crypto actively in 2017, I was⁠ absolutely afraid when bitcoin reach 15k and livid at 19k. only the newbies and gamblers⁤ were looking past 20k realistically, everyone else was selling.

I am confident I will now⁣ when those people are back in play this year or next year, right now they⁢ are out of the picture almost entirely imho.

 

[nomad999]

all regulated investment fund cannot hold bitcoin directly due to US regulations, they⁠ have to use GBTC on the stock market, the closest thing to an ETF atm.⁤

now the OTC market for bitcoin is ginormous ! this is how they can buy⁣ over 100M worth of bitcoin easily from what I have gathered. I am sure some⁢ people around here have more info on this.

 

[nomad999]

this is a good one, this guy has real skin in the game, well worth‌ listening to ...



https://twitter.com/x/status/1345720056530038784

 

[myshufflemix]

Let's hope this become the truth, I have parked half of my BTC right now‌ in USDC exchanged at at a BTC rate of 34200 so they are secured I‍ hope 😀

The rest I will gamble with.

 

[nomad999]

always to good⁠ to take profit.

 

[EliasIT]

and down it goes to 33K ~ 32800 🙁

 

[JackAlabama]

Do you regard⁠ this fiat coin usdc to be safe from regulatory risk? It is like from conbase⁤ but I am still unsure if it is not better to split among the many⁣ stable coins.
After all, centralized projects are very easy to attack by regulation.

yes, no one ever went broke︀ doing so. the art is however in what form(s) to take profit. It takes ages︁ to come with workable solutions. (Cashing thru conbase et. al. is not what I had︂ in mind obviously 😉

 

[EliasIT]

according to @Martin Everson I read it to be safe so I‍ can understand why @myshufflemix may have chosen this coin, I have done the same, but⁠ have only had 0.5 BTC to place there.

 

[nomad999]

https://twitter.com/x/status/1345848687415746560

can you hear the herd coming ? smi(&%

 

[JackAlabama]

Well, the‌ communist built a wall not to avoid people coming in, but preventing their people from‍ leaving.