Who's Holding BTC?

Murray · Jan 28, 2021

dee said:
Meh... I dont think it's sustainable. Traders are people. Joe public, and most of them selfish. Individuals arent going to start liquidation pensions and getting loans to carry on. People will start to pull out / take profit before everyone else does and before you know it it's a mass sell off with everyone bailing.

Its more of a protest/movement, I did think people would have held onto their gamestop stock up to $1000+

My conviction on that is getting less now the markets look a lot happier and robinhood etc have blocked gme purchase

dee · Jan 28, 2021

Murray said:
Its more of a protest/movement, I did think people would have held onto their gamestop stock up to $1000+

My conviction on that is getting less now the markets look a lot happier and robinhood etc have blocked gme purchase

Yep. Unfortunatley though the only people who'll lose all their money are the punters / retail investors. There'll be a lot of people make a lot of money, and even more lose loads.

Adam H · Jan 28, 2021

Broke 33k, could see it going up from here. If it passes 36k we'll see 50k soon i reckon.

dee · Jan 28, 2021

yep 33 gone . Although be careful. Still hasn't broken the downward channel line.

Adam H · Jan 29, 2021

lol, well thank you Elon Musk lol

dee · Jan 29, 2021

Adam H said:
lol, well thank you Elon Musk lol

What's he said?

Adam H · Jan 29, 2021

He tweeted he was buying BTC and its just shot up above 36k

dee · Jan 29, 2021

I saw it spike. Imagine being able to do that with a tweet.

Adam H · Jan 29, 2021

dee said:
I saw it spike. Imagine being able to do that with a tweet.

lol yeah happens alot, some guy has just said if Elon buy 1 bitcoin for himself ( Not tesla ), he'll donate 50k to a charity of his choice. If Elon responds I can see it going up again.

When all the instiutions have the investment confrence on bitcoin on the 3rd/4th Feb, if a tiny percentage of them take the investment advice it will be a big push aswell

Murray · Jan 29, 2021

Murray said:
This /r/wallstreetbets stuff seems like it may tank things including bitcoin as the shorters have to liquidate positions to cover themselves

Losses on short positions in U.S. firms top $70 billion - Ortex data

https://www.reuters.com/article/us-...firms-top-70-billion-ortex-data-idUSKBN29X1SW

70 billion and gme is 100% up premarket

This does have the potential to crash things, everything, this is a very precarious time

twostepsbehind · Jan 29, 2021

Tether's market cap went up 500m in the last (i.e. printing from thin air) and BTC is now going up

When Tether stopped printing for a week BTC was flat and started falling

(Tether is not back by anything)

geniejjc · Jan 29, 2021

ian · Jan 29, 2021

twostepsbehind said:
Tether's market cap went up 500m in the last (i.e. printing from thin air) and BTC is now going up

When Tether stopped printing for a week BTC was flat and started falling

(Tether is not back by anything)

Really, Tether's marketcap has dropped in the past 2 days, only up over the week, so not at all in line with this sudden increase by Bitcoin!

twostepsbehind · Jan 29, 2021

ian said:
Really, Tether's marketcap has dropped in the past 2 days, only up over the week, so not at all in line with this sudden increase by Bitcoin!

View attachment 3140

Even your own graph shows the trend...?!

dee · Jan 31, 2021

Will be interesting to see what happens this week with the Gamestock saga. This really seems to have taken hold. The hate for Robin Hood is pretty large at the mo it seems.

Dogecoin aswell could possibly blow up again. There's a similar movement going on to try for 1 dollar and lots of people waiting for deposited funds to clear tomorrow it seems on reddit. Who knows.... popcorn at the ready.

Adam H · Jan 31, 2021

Apprently XRP is going to blow up at 8.30 EST ( 1.30pm our time ) tomorrow.

But yeah, Pre-market open tonight and Market open tomorrow on traditional markets will give a good idea where Bitcoin is heading, but its going to be an interesting week, lots of action.

dee · Jan 31, 2021

Murray said:
/r/wallstreetbets

Adam H said:
Apprently XRP is going to blow up at 8.30 EST ( 1.30pm our time ) tomorrow.

But yeah, Pre-market open tonight and Market open tomorrow on traditional markets will give a good idea where Bitcoin is heading, but its going to be an interesting week, lots of action.

XRP is already on the way up (currently up about 80 %) on rumours. Although at least it has some fundamentals behind it. It tanked because of the SEC courtcase, but people are saying it should win.

Dogecoin was literally a joke coin, which is precisely why its been run at. Weird times at the moment, but hey, easiest 80%+ profit ive ever made in about 8 hours on Friday.

twostepsbehind · Jan 31, 2021

Everything has gone mental. People just buying, holding, pumping, with no logic, analysis, or sound rationale whatsoever

It’s just speculation and people riding the wave and getting in and out at the right times are doing well, but that requires keeping your fingers on the pulse of this wild west world of crypto and stonks

ian · Feb 8, 2021

Tesla have confirmed through their SEC submissions that they've acquired $1.5 billion in Bitcoin and will soon accept as a form of payment for their products.