Cryptocurrency

[jamesbrown]

Old people: Buy this dividend stock son, it's been around 50 years and deliver 3% compounded growth pa. In 40 years it will pay for your retirement
Gen Z: Ok boomer, how about you stick your boring boomer stock, and instead I put just $1000 into crypto/SPAC/NFT and haz Lambo in 3 weeks?

The thing about rich cretins is that they're still cretins and, more than likely, they'll be bankrupt cretins before very long. Cretins are like that; cretinism and wealth are largely orthogonal

[Jarman]

Old people: Buy this dividend stock son, it's been around 50 years and deliver 3% compounded growth pa. In 40 years it will pay for your retirement
Gen Z: Ok boomer, how about you stick your boring boomer stock, and instead I put just $1000 into crypto/SPAC/NFT and haz Lambo in 3 weeks?

what's the average age on this forum? like 55? No wonder there is low appetite for crypto. If you cannot handle 30-40% downswing in a day, definitely not for you. Stick to SPX

[AtW]

"China all but bans cryptocurrencies

Banks told not to transact, web platforms blocked from hosting or advertising, citizens told to look elsewhere for investments

Beijing has all but banned cryptocurrencies.

In an edict published yesterday by three bodies – the National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China – banks are forbidden to allow their customers access to cryptocurrency trading or storage, and told not to provide insurance to cryptocurrency businesses or investments.

Web platforms were told not to host crypto-coin companies, or even allow ads for any crypto-related business activities."

https://www.theregister.com/2021/05/...ncy_crackdown/

So, one last step left there - get all the fooking nerd "miners" and put them to real mining in Uranium mines.

[AtW]

Just a week earlier...


"Crypto market to $5 trillion market capital (Long)

On the previous two market rallies price action, on the above weekly chart, was preceded by:

1) MFI Higher low

2) Stochastic RSI crosses up 20

Those event have just occurred again.

The crypto market total saw a minimum 160% increase in previous rallies from Stochastic RSI crossing up 20 and following cross down of 80. The target circled in orange follows the recent weekly close as Stochastic RSI crosses 20 with MFI printing a new higher low. This target is 120% away / $5trillion market cap.

Expecting a strong rejection from this target by early August (look left).

Good luck."



https://www.tradingview.com/chart/TO...arket-capital/

[Whorty]

Just a week earlier...


"Crypto market to $5 trillion market capital (Long)

On the previous two market rallies price action, on the above weekly chart, was preceded by:

1) MFI Higher low

2) Stochastic RSI crosses up 20

Those event have just occurred again.

The crypto market total saw a minimum 160% increase in previous rallies from Stochastic RSI crossing up 20 and following cross down of 80. The target circled in orange follows the recent weekly close as Stochastic RSI crosses 20 with MFI printing a new higher low. This target is 120% away / $5trillion market cap.

Expecting a strong rejection from this target by early August (look left).

Good luck."



https://www.tradingview.com/chart/TO...arket-capital/

He does draw a pretty graph though with his crayons

[DealorNoDeal]

So...

It wasn't Tesla no longer accepting bitcoin which crashed the crypto market. Nor was it Tether's creative accounting. And it wasn't China banning it either.

Nope, it was Scooty's bullish call wot did it.

[Jarman]

banks in 2025:
crypto in 2025:
me:

[AtW]

”If you’ve been to central London recently - a big “if” admittedly judging by my commute - you can’t help but notice the blizzard of Bitcoin-related marketing on public transport. One advert even pokes fun at the phenomenon: “If you’re seeing Bitcoin on the side of a bus, it’s time to buy”.”

https://www.telegraph.co.uk/business...bitcoin-craze/

Sure sign to sell…

[jamesbrown]

banks in 2025:
crypto in 2025:
me:

You in 2021, 2022, 2023, 2024 and 2026.

[ladymuck]

”If you’ve been to central London recently - a big “if” admittedly judging by my commute - you can’t help but notice the blizzard of Bitcoin-related marketing on public transport. One advert even pokes fun at the phenomenon: “If you’re seeing Bitcoin on the side of a bus, it’s time to buy”.”

https://www.telegraph.co.uk/business...bitcoin-craze/

Sure sign to sell…

I saw that on the tube and mentioned it to friends of mine - one of whom has been invested in bitcoin for many years, doing very well too - we all had a good chuckle and our assessment was exactly the same as yours!