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$50,000 Bitcoin by the Weekend? (Patreon)

Published:
2021-02-11 14:52:19
Imported:
2022-03

Comments

Anonymous

Isn't this question biased by nature given the sample pool? How many of us are actually evaluating support and resistance before answering, we are likely ALL BTCN longs. Most responses will have at least a small bit of bias based on our personal desire instead of rational TA. I fear pressing send, and seeing the potential responses from the many uber intelligent and experienced traders in the group exclaiming "I don't mix emotion and trading"

Anonymous

yes, I think so! That will make it a 50K Valentine day!

InvestAnswers
>>53402416

I am looking at the TA and GlassNode - hence my gut says 50K coming in soon. Again as always it will be a bumpy ride. I have no emotion. It could fall to 28K and I would have no emotion. Go to 60K no emotion. A small grin perhaps. And yes you are so right - we are probably majorly skewed to BTC Bulls here....

Anonymous

I want to buy a little more BTC so I wouldn’t mind a small dip.

Anonymous

I voted no and I'm always wrong. You're welcome.

Anonymous

I pressed no then remembered I was thinking in Euros 🤔

Anonymous

And that's me out of HUT at CAD 8.30

Anonymous

No Chinese New Year dip this year?

Anonymous

I think so -- maybe 60/40. But, I hope not. I am hoping for some big chunk of FUD so I can buy more cheap (chuckle) mid 30K BTC. I have bought small amounts in the mid 40Ks, but I still find it hard to do. In two weeks I'll be longing for mid 40s so I can load up ;-) Feels really FOMOish.

Anonymous

People will Fud out,and miss another great bitcoin run over the weekend.

Anonymous

I did "No" #1: I want dip #2: right now emotions and traders took over the market. Fun to watch but dangerous. But either way, I am putting $1000/day into this and I am long

Anonymous

My gut says a small dip for Chinese New Year but not as big as in the past, then a run to 50k and beyond.

Anonymous

IA- But you do you emotion, "Embarrasment of riches" 😂... That said, when I asked "how many doing TA before responding, I was not questioning if folks are doing TA as a whole, certainly know you are and Rgbtxus , the comment was narrowly focused on the question itself , not the group's trading discipline as a whole. Just wanted to clarify in the event my comment was viewed as cynical, or less than constructive. Just an observation, appreciate the general concurrence.

Anonymous
>>53403136

LOL me too but then i went back and changed it to be correct.

Anonymous

Big companies jumping in every day..Mastercard today..American express and Applepay next.

Anonymous

Curious to see the effect, if any, of Chinese New Year

Anonymous

I think its a long shot because of the factors listed above.

Anonymous

Ditto what Kathryn said.

Anonymous

I would expect most people would vote yes

Anonymous

I have a question to the group however. I heard on a radio chat today about the possibility of a Trump Coin and the fact he has over 70m followers in the US that would likely buy into it. Would this be a viable investment if came about?

Anonymous

My answer is no, there are too many factors between now and the weekend. You have an impeachment trial, snakes trying to PAMP BTC- for their personal gain and Janet Yellen. I think it will inevitably.

Anonymous

Tom brady coin probably does better.

Anonymous

I said no, but it will be close. Watching the 4-hourly today, and was looking for a turn to the downside, but demand seems steady, so perhaps the retracement comes tomorrow or Saturday. 49,246 seems a threshold to test based on January’s structure. But maybe that’s ancient history now. I would expect a turn to the downside before racing to 60, 65+. But I’m here because I know nothing and I need to learn.

Anonymous

What’s the number to find you on discord?

Anonymous

Is the Chinese new year not going to be a factor ?

Anonymous

This Chinese N ew Year will be the year of the Ox or can we interpert it as the year of the Bull

Anonymous

Don’t know enough to make an informed decision but gut tells me it pulls back just before

Anonymous

I selected no for these reasons: 1) double top 2) RSI has been in oversold territory 3) the risk of the upcoming Chinese New Year.

Anonymous

Corpo FOMO is real.

Anonymous

I would like to pose a question to the fine people in this group. When looking at using retirement funds for crypto, the obvious choices to me would be GBTC or ETHE. My son took a different route and withdrew $100,000 from his 401k and took the ~$40,00 hit. He put that money into Ethereum and has moved past $200,000. Being that the common idea is that it is best to invest, or speculate directly within the coins themselves, what would you all say would be the best route to take?

Anonymous
>>53424003

So he paid 40% to take it out? And if he sells within a year he’ll have to pay short term capital gains tax? Why didn’t he put it in the grayscale ethereum trust? The premium is not near 40% and he’s not impacted by capital gains short term or long term when he sells. Not sure am I missing something obvious here? I would ha d thought it’s way more tax efficient do within the pension, especially a Roth IRA.

Anonymous

You are correct, he paid the penalty as well as the taxes up front and was left with around $60,000 free and clear to invest on his own. After putting that money into Ethereum he has made around $200,000 so far.

Anonymous
>>53425428

I think this was a risky move but I'm glad it's working out :). If his plan is to hodl eth long term he may well come out ahead. Was ETHE not an option? Although from what i've seen ETHE is terrible at tracking ETH. Those premiums are criminal.

Anonymous
>>53405062

All politics aside I would avoid this like the plague. Even if you like his politics it's clear that he's not a great investor. The beauty of BTC is decentralization. consider: what happens to token holders in a dilution event? Lots of grifting in the Trump ecosystem. Caveat Emptor.

Anonymous

Funny you touched on that. ETHE is how he mad the $100,000 that he took out. I wanted to hear some opinions given my experience with GBTC and ETHE, it is a hard row to hoe to be sure, but I think that there are gains to be made.

Anonymous
>>53409276

Looks like it might be going to make the price higher, as now everyone sees $$ made in BTC and many wants to get on it ... Chinese New Year gives people time and opportunity to get their hands on it ...

Anonymous

I haven't stacked enough yet. Kindly postpone the $50K price point for another month. Please and thank you.