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Topic: Bitcoin bounce (Read 451 times) previous topic - next topic

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Bitcoin bounce
Bitcoin brokeout now about to have a golden cross.
.

For Entertainment Purposes Only.

  • Erich
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Re: Bitcoin bounce
Reply #1
Bought some GBTC @ 6.54 looking good so far. Mining stocks not so much.
ER

  • Erich
  • [*][*][*][*]
Re: Bitcoin bounce
Reply #2
Seems like old times again. Chart looks strung out. Maybe due for a slam down.
Still holding all my GBTC and wish I had more.
Thoughts?

ER

Re: Bitcoin bounce
Reply #3
Seems like old times again. Chart looks strung out. Maybe due for a slam down.
Still holding all my GBTC and wish I had more.
Thoughts?

ER
$6.54 to $10.29 over about 4 weeks; only thoughts I have are great move, might want to take a little off the table. I do not have confidence in cryptos, but that is changing with the linkages to gold in a couple places. Question then becomes why not hold the gold, no counterparty risk. One good answer is gold has moved a few percent while your move has been over 50%.

Re: Bitcoin bounce
Reply #4
For Entertainment Purposes Only.

  • Erich
  • [*][*][*][*]
Re: Bitcoin bounce
Reply #5
Strong move over the weekend on BTC. I'm think 9k will get to 10 in a hurry. Still long the GBTC.
Very Happy but cautious.
GLTA Happy Memorial Day

  • Erich
  • [*][*][*][*]
Re: Bitcoin bounce
Reply #6
Glad to see PM's finally getting some traction. I doubt anyone is surprised. I would expect Gold to be much higher in the coming months and years especially with the crazy monetary easing that is sure to come.

 BTC looking to hit 10 k today which is an incredible run off of the 3500 a few short months ago.
Still holding GBTC and will continue to do so. All time highs in BTC and perhaps Gold may be coming which does not bode well
for the DOW and perhaps the country in general.

Long EXK GBTC       GLTA  ER

Re: Bitcoin bounce
Reply #7
For folks who think of Cryptos as a PM substitute, have a read of the link. Cryptos have counterparty risks, one being the machines holding them, another people operating the machines, authorized and unauthorized.

https://finance.yahoo.com/news/bitcoin-falls-1-400-crash-222500742.html

  • Erich
  • [*][*][*][*]
Re: Bitcoin bounce
Reply #8
For folks who think of Cryptos as a PM substitute, have a read of the link. Cryptos have counterparty risks, one being the machines holding them, another people operating the machines, authorized and unauthorized.

https://finance.yahoo.com/news/bitcoin-falls-1-400-crash-222500742.html
   The Coinbase website went down for about 1 hour. I'm guessing it was over whelmed with buy orders and the system couldn't take it. Way overbought in the short term and due for a correction. BTC is a very volatile and unpredictable game. I wish I had more much more.  GLTA ER

Re: Bitcoin bounce
Reply #9
The author of this article has a completely different take on Bitcoin, as demonstrated by this quote, "We have the equivalent of a rare tulip bulb called Bitcoin, a so-called cryptocurrency, which is intrinsically backed by thin air, trading for over $11,000 a coin - very similar to the rare tulip bulb before the tulip crash of 1637." The article is well written and it is always good to have the supported perspective from the other side of the trade.

http://wallstreetonparade.com/2019/06/todays-wall-street-has-all-the-hallmarks-of-tulip-mania/

  • Erich
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Re: Bitcoin bounce
Reply #10
Oh yes the old Tulip craze reference. They have been dragging that one out for 11 years. Tulip mania which lasted around 18 months
has little to do with BTC. My bet with Nikko still stands and I will win :D
Bought more GBTC on the dip yesterday. It's a  wild ride and certainly not for everyone.

Long EXK GBTC

  • Erich
  • [*][*][*][*]
Re: Bitcoin bounce
Reply #11
Oh yes the old Tulip craze reference. They have been dragging that one out for 11 years. Tulip mania which lasted around 18 months
has little to do with BTC. My bet with Nikko still stands and I will win :D
Bought more GBTC on the dip yesterday. It's a  wild ride and certainly not for everyone.

Long EXK GBTC
      https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/

Re: Bitcoin bounce
Reply #12
For Entertainment Purposes Only.