HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

[James Fake]

@Timmy C - I think we might both be right and both be wrong in the same day lol. Crazy day so far.

 

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[James Fake]

Some Updates I See:

There's a broad market sell off going on. I still attribute it to my Sell The News: Vaccine Approval theory lol (Moderna is asking FDA for emergency approval today).

But nonetheless, it will bring everything with it. Except the US Dollar. This includes Bitcoin, so not only did we do some crazy pump this morning but we will likely also do an equally crazy dump that will kind of slow bleed for a week or so. This sell off for Bitcoin will happen after it retests the $19k area on it's bounce.

So... All in one day:

1) Bitcoin pumps and hits it's All Time High since freakin 3 years ago.

And then it's likely these will follow...

2) Sells off to hit $16,000 or $17,000.

3) Followed by a retest pump back to $19,000.

Then over the next week or so: a sell off, a slower bleed type correction sell off all the way eventually down to $13,000-$14,000


Breakout Star: XRP
XRP will likely drop down along with everything else. BUT the kicker is; I think XRP will eventually de-couple around $.58-.61 from Bitcoin and find footing and slowly start going up while Bitcoin goes down. This sounds crazy but no matter what analysis I do; XRP always ends up going to $1.2+ in the next couple weeks (sometime in the first week of December)

 

[mThree2K]

Some Updates I See:

There's a broad market sell off going on. I still attribute it to my Sell The News: Vaccine Approval theory lol (Moderna is asking FDA for emergency approval today).

But nonetheless, it will bring everything with it. Except the US Dollar. This includes Bitcoin, so not only did we do some crazy pump this morning but we will likely also do an equally crazy dump that will kind of slow bleed for a week or so. This sell off for Bitcoin will happen after it retests the $19k area on it's bounce.

So... All in one day:

1) Bitcoin pumps and hits it's All Time High since freakin 3 years ago.

And then it's likely these will follow...

2) Sells off to hit $16,000 or $17,000.

3) Followed by a retest pump back to $19,000.

Then over the next week or so: a sell off, a slower bleed type correction sell off all the way eventually down to $13,000-$14,000


Breakout Star: XRP
XRP will likely drop down along with everything else. BUT the kicker is; I think XRP will eventually de-couple around $.58-.61 from Bitcoin and find footing and slowly start going up while Bitcoin goes down. This sounds crazy but no matter what analysis I do; XRP always ends up going to $1.2+ in the next couple weeks (sometime in the first week of December)

Knowing the hysteria that forms around XRP retailwise you could be short on your projection.

 

[James Fake]

Knowing the hysteria that forms around XRP retailwise you could be short on your projection.

You do have a great point! I'm eye'ing $1.2 (maybe?) around first week of December, then freakin $5+ in early/mid 2021. How? I'm not even sure (it feels weird to type that type of a moonboy target lol), but yeah... the hysteria you mentioned in 2017 was.... unbelievable in how high & fast it would run.. and it is 2020 lol

 

[mguerra]

You do have a great point! I'm eye'ing $1.2 (maybe?) around first week of December, then freakin $5+ in early/mid 2021. How? I'm not even sure (it feels weird to type that type of a moonboy target lol), but yeah... the hysteria you mentioned in 2017 was.... unbelievable in how high & fast it would run.. and it is 2020 lol

Do you see any potential in this Spark tokens that will be distributed in XRP airdrop on decembter 12th?

 

[csalvato]

@James Fend (or any other XRP bulls): do you think XRP is a long buy and hold play? Or just a bubble play to make some quick cash?

I ask as someone who has always disliked the project and think it's doomed to fail, so looking for a different perspective in case I'm wrong.

 

[James Fake]

Do you see any potential in this Spark tokens that will be distributed in XRP airdrop on decembter 12th?

Yes, exactly. I think this will cause the price to run up a few days to a week before Dec 12th. No other alt at the moment (other than ETH 2.0 which is still kind of an unknown) has any definite date on any "good news". This is kind of the first "good news" since this crypto bull run has began (well half way confirmed as bull run anyways), and any "good news" is pretty much like NOS boosters in bullish environments!

@James Fend (or any other XRP bulls): do you think XRP is a long buy and hold play? Or just a bubble play to make some quick cash?

I ask as someone who has always disliked the project and think it's doomed to fail, so looking for a different perspective in case I'm wrong.

Great questions. So, my take is... I am not fond of the project, but at the same time, they would be filling a need even if it skirts "crypto roots". With that said; it is also the #3 biggest cap coin and has tons of volume & liquidity, I think it would be almost impossible for this thing to fail as 'how do you fail speculation'? (unlike something like a Bitconnect which was a scam and not speculated utility)

Unless we are of course talking 25-30 years out at which, today's crypto doesn't hold much weight for me right now for 2040 and beyond. (as I think virtual reality is what will be the main driver of a digital currency kind of like in-game credits that people buy now, but it would be universal, global, confirmable, and not clumsy like dollar transfers. And that currency; I have no idea if it is here or if it is yet to be created)

Anywho, I strictly just trade XRP just as I would trade tulips lol. Profit is profit to me for right now; although I do care of the root tech behind it, it would also be irresponsible not to dip my hands in "easy" money.

As a trade; I treat it more like a 3x ETF almost lol. It's gains and losses are 2-3x size of Bitcoin's moves. It is also a bit better peace of mind in having an asset that is 3x moving vs. using paper derivatives off some (sometimes sketchy) exchange; it allows me some sort of control at least.

 

[Non-Conformist]

Some Updates I See:

There's a broad market sell off going on. I still attribute it to my Sell The News: Vaccine Approval theory lol (Moderna is asking FDA for emergency approval today).

But nonetheless, it will bring everything with it. Except the US Dollar. This includes Bitcoin, so not only did we do some crazy pump this morning but we will likely also do an equally crazy dump that will kind of slow bleed for a week or so. This sell off for Bitcoin will happen after it retests the $19k area on it's bounce.

So... All in one day:

1) Bitcoin pumps and hits it's All Time High since freakin 3 years ago.

And then it's likely these will follow...

2) Sells off to hit $16,000 or $17,000.

3) Followed by a retest pump back to $19,000.

Then over the next week or so: a sell off, a slower bleed type correction sell off all the way eventually down to $13,000-$14,000


Breakout Star: XRP
XRP will likely drop down along with everything else. BUT the kicker is; I think XRP will eventually de-couple around $.58-.61 from Bitcoin and find footing and slowly start going up while Bitcoin goes down. This sounds crazy but no matter what analysis I do; XRP always ends up going to $1.2+ in the next couple weeks (sometime in the first week of December)

If XRP would really go up to $1.2 I would be happy and pissed off at the same time. This guy I follow and agree upon his research shows that most digital assets will have a massive drop such as BTC, XRP, and ETH. I've read the charts and fractals he uses and it make sense, plus the stuff going on in the world could follow up a drop. I wonder what will happen in the upcoming days, but I will keep my eyes on this space.

 

[Non-Conformist]

Do you see any potential in this Spark tokens that will be distributed in XRP airdrop on decembter 12th?

They aren't going to necessarily distribute it on the 12th, they would pay in you pieces. Don't assume this is correct do your own research and read some articles to see what could happen (because once again we don't know what is true and false, just handed information).

 

[Kal-El1998]

I'll be honest, after bitcoin tanked at the beginning of 2018, I never thought it would back up where it has. That being said...it's probably going to reach a new high before there's another big sell off. I will probably just wait until it dies again and then buy 2 or 3.

 

[Kevin88660]

I'll be honest, after bitcoin tanked at the beginning of 2018, I never thought it would back up where it has. That being said...it's probably going to reach a new high before there's another big sell off. I will probably just wait until it dies again and then buy 2 or 3.

Bitcoin is getting more and more stable. I think 30k is easily do-able in this cycle, but I skeptical of the extremely bullish cases of above 50k, without a Weimar style of hyperinflation.

If you didn’t accumulate in the bear market the risk reward is not going to be in your favor now to buy in the bull marker. I think there is still decent opportunity in alt coins. They usually are slow to pick up velocity and the prices and near to their bottom.

A small bet on sth for a 10x or 20x potential.

Defi is the hot topic but most are no longer cheap in valuation. And there is a lot of competition in this space.

Given the increasing interest from institutional money, I focus on projects that are structured to be acquisition friendly.

 

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[mguerra]

A small bet on sth for a 10x or 20x potential.

Defi is the hot topic but most are no longer cheap in valuation. And there is a lot of competition in this space.

Given the increasing interest from institutional money, I focus on projects that are structured to be acquisition friendly.

Do you mean acquisition by a big company? This is interesting...

I think we are living a new "wave" of cryptospace. With the world post COVID-19 changing at a rapid pace, the technology is evolving, contracts with big institutions have been signed, new things like DeFi, NFT, etc..

Do you mind sharing what is your framework/thought process when looking for a good alt project to invest in from now on?

I don't have mine fully formed yet, but here it goes as an example...

Example:

1. Research and understand the project you are investing, read the whitepaper, etc
2. Look for projects that solves a real need/adds real value to the world
3. Look for projects that signed contracts with big institutions
4. Look for projects that are acquisition friendly
5. Check the upcoming news of that project
5. Etc..

Think it might spark an interesting discussion. Let's see if we can help each others out in taking advantage of the opportunities yet to come.

 

[Kevin88660]

Do you mean acquisition by a big company? This is interesting...

I think we are living a new "wave" of cryptospace. With the world post COVID-19 changing at a rapid pace, the technology is evolving, contracts with big institutions have been signed, new things like DeFi, NFT, etc..

Do you mind sharing what is your framework/thought process when looking for a good alt project to invest in from now on?

I don't have mine fully formed yet, but here it goes as an example...

Example:

1. Research and understand the project you are investing, read the whitepaper, etc
2. Look for projects that solves a real need/adds real value to the world
3. Look for projects that signed contracts with big institutions
4. Look for projects that are acquisition friendly
5. Check the upcoming news of that project
5. Etc..

Think it might spark an interesting discussion. Let's see if we can help each others out in taking advantage of the opportunities yet to come.

I have to admit that I do not have a lot of real trading experience in this space. I knew about crypto since 2013, I read about them, bough some for fun and followed their price and development. I am not those who spent hours per day and they know where to “Farm and dump” the latest defi token.

And I have friends who spent more time in this space who do not agree with the way I look at the alt coins.

I want to find crypto projects that traditional investors can understand and relate to.

A lot of defi projects are anonymous founders with possible SEC regulation going against them. I don’t think institutional money is going to be comfortable.

I want to look for projects with
1) Credible founders, impressive people with good CV
2) projects with real users/solving real problems
3) a good narrative of potentially becoming something big.

Basically the next small “Elon Musk”. A hammer is always going to look for a nail. Institutional investors who get used of evaluating traditional investment vehicles are always going to look for something that is similar to what they have been looking.

Personally I like projects such as Vechain and Basic Attention Token. They are more friendly towards investors evaluating start-up potential.

This is different from the consensus who believe that defi is the best bet. Their rationale is that once alt coun bull market starts retail money will rush into defi projects. They focus more on “pumpamentals” and underlying disruptive transactional related technology.

I think otherwise. With retails having the recent memory of getting burnt in 2017 and they are making good money now chasing EV theme stocks, why would they risk their money in crypto? It is the inflation concerned deep pockets looking to diversify their portfolio that could give crypto market most of the boost.



Throw what you can earn back in 3-4 months for a once in a 3-4 years opportunity for a 10-20x return.

 

[maverick]

Visa Partners With Ethereum Digital-Dollar Startup That Raised $271 Million

After two years of work, Visa is opening up its network to USDC, a digital dollar created by Circle Internet Financial and issued on the public ethereum blockchain.

www.forbes.com

Visa getting into the mix..

 

[steelandchrome]

Has anyone played with selling covered calls on your BTC at Trade Bitcoin, Options and Futures ? I just saw it and am debating selling on maybe .5 btc monthly and reinvesting back into building up more btc. You can sell a $100k Dec 2021 contract for like $2500

 

[Timmy C]

Wake up check bitcoins price.

Check Peter Schiff's Twitter.

Troll him.

And repeat.

The guy doesn't shut up about bitcoin.

He's a meme at this point.

 

[IndolentFastlanr]

Is there any news about the integration between PayPal and Cryptos?. In Argentina we need something like that now, is a massacre what happened when you want to import your hard-earned dollars.

Note that with PayPal, you do not actually own your own crypto. Only an IOU version of it.

 

[denj]

I'm more into blockchain technologies right now. Investing in crypto could be quite riskie but I found the way to get free bitcoins. Never thought it could be so easy to do. All I need is just building my own vritual mining center and having fun paying arcade games.I've already got my first coins.

 

[Plutus]

I'm more into blockchain technologies right now

You may not be interested in Bitcoin, but Bitcoin is interested in you.

 

[Timmy C]

Bitcoin won't be going anywhere, the fear of government bans is way overblown.

This asset is here to stay.

 

[ChrisJHarrington]

I think BTC will continue to rise with all of the recent stimulus / printing of money which will weaken the dollar.

 

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[Timmy C]

Bitcoin just broke $20,000

Strap in.

 

[James Fake]

Bitcoin just broke $20,000

Strap in.

It's been a LONGGGG 3 years, but I'm strapped in with much better trading talent and experience. Should be a good bounce back year overall from 2020; thats for sure lol.

 

[mguerra]

What do you guys think about XRP?

Right now all my portfolio is invested in it - I've bought the majority at 0.40. The plan is to exit the position when it reaches $1+ and get back to BTC (hopefully in a still low price).

@James Fend What's your opinion on XRP reaching $2+ on 2021 Q1?

 

[gryfny]

Bitcoin just broke $20,000

Strap in.

23k now. I'm wondering how long it can keep going like this. I have no plans to sell anytime soon though.

 

[c4n]

The question on my mind is who the heck is buying at these prices? 99+% bot activity?

 

[Timmy C]

The question on my mind is who the heck is buying at these prices? 99+% bot activity?

People think this is expensive. That's others edge.

This party is under way and will be underway for some time.

 

[Timmy C]

If you average into your positions, you don't mind buying some highs, especially if it breaks resistance.
Every time BTC has broken a previous ATH, it has gone to the moon.

Risk/Reward. It's a good buy.

As long as you don't put all your chips on the table in one hit, it isn't an issue.

Your investment time horizon is important to factor in as well.

 

[Timmy C]

I started buying bitcoin in May.

I only wish I had the capital I have now back then to put in lol.

 

[nitrousflame]

The question on my mind is who the heck is buying at these prices? 99+% bot activity?

View: https://i.imgur.com/3OZDBkT.png