I think there’s still money to be had, but I also think that too many people are getting in, so it’s time to be very cautious, or exit completely.
BITCOIN
- Thread starter Weather Man
- Start date
Turkish cryptocurrency exchange shuts down as CEO disappears
- Turkish cryptocurrency exchange Thodex has stopped operations and its CEO has vanished amid allegations that hundreds of millions of dollars have been stolen, according to media reports.
- On Wednesday, the cryptocurrency exchange was no longer accessible. Thodex's main website said it has received serious partnership offers and the platform is temporarily closed to find the cause of "abnormal fluctuation in the company accounts."
- A prosecutor in Istanbul has started an investigation. Meanwhile, police are searching Thodex offices, state-run Anadolu Agency reports.
- A lawyer, Abdullah Usame Ceran, has filed a criminal complaint against Thodex founder and CEO Fatih Faruk Ozer, alleging "aggravated fraud."
- The company, on its website, said "many of the claims" made about the Thodex platform "are unfounded."
- Before stopping transactions, Thodex was trading more than $585M in crypto on its exchange, according to CoinMarketCap data.
- The assets of ~390K active users are now "irretrievable", says Oguz Evren Kilic, who represents a number of users and filed a legal complaint on their behalf, Bloomberg reports.
- Recall that last week, Turkey announced that it would ban cryptocurrency payments, saying they may result in "non-recoverable losses."
1. Pi cycle indicator crossed , Eth and alts are ripping, Btc 20x'd off bear market lows.
Unless I see a convincing ATH soon... this cycle is over until 24/25
everyone was waiting for a blowoff top... so the observer effect prevents it.
Could get a 2nd peak the fall/winter... if it's like the 2013 run some people are saying.
The ONLY thing I've heard from bulls is S2F model and it's too early to peak.
Efficient market mave be 1 move ahead of them all.
Unless I see a convincing ATH soon... this cycle is over until 24/25
everyone was waiting for a blowoff top... so the observer effect prevents it.
Could get a 2nd peak the fall/winter... if it's like the 2013 run some people are saying.
The ONLY thing I've heard from bulls is S2F model and it's too early to peak.
Efficient market mave be 1 move ahead of them all.
It will be interesting is the Pi cycle gets confirmed in real time. Weird thing though is that if this is the top and is unlike the previous bull cycles, why is everyone so confident on the bear timeline based on the previous bear cycles...
So you sold?
Yeah, the price action after the 3rd stimmy was garbage. Avg'd out in the 57's
Pi cycle was really close to crossing all the way back then, you could see 1 strong rip would trigger it. Finally got that when instead of cooling off it jizzed to 64k
Bitcoin's share of cryptocurrency market dips below 50% for first time in three years
- At about noon today, Bitcoin's (BTC-USD) market cap was just above $1T, or 48% of the $2.13T market cap for the entirely of the cryptocurrency universe, according to CoinGecko's database of 6,816 coins.
- Ether (ETH-USD) - which has been on a big run to new all-time highs as bitcoin stalls/falls - is up to a 14% share of the total market cap.
- It's the first time since 2018 that Bitcoin has accounted for less than 50% of total crypto market cap, and the fast action in alt-coin names like Dogecoin (DOGE-USD), Litecoin (LTC-USD), ZCash (ZEC-USD) - and plenty of others - is drawing comparisons to the late-2017 blow-off top in all cryptocurrencies.
What about the 2-Year MA Multiplier, The Puell Multiple, The Golden Ratio Multiplier, the BTC Log Growth Curve, and 200 week MA Heatmap...none of which are signaling a cycle top?
Just looked into the 2yr MA, that looks topping, touching upper band, just didn't get a blow through,
Puell indicator is ugly too... you can draw a 4 touch point rejection line perfectly descending.
Made a U turn, same thing with planb B monthly rsi dots. It's a descending rejection line.
Puell indicator is ugly too... you can draw a 4 touch point rejection line perfectly descending.
Made a U turn, same thing with planb B monthly rsi dots. It's a descending rejection line.
The millionaire tech boys didn't think their support through very well!
Bitcoin falls to $50K after Biden floats doubling capital gains tax
Bitcoin falls to $50K after Biden floats doubling capital gains tax
- Bloomberg earlier reported that the president was mulling a doubling in the capital gains tax on the wealthiest Americans to 39.6% from the current 20%.
- The news helped send the major stock market averages down nearly 1%, and it's also proving to be a cooler for the crypto market. Most notably, bitcoin (BTC-USD) minutes ago sunk to $50.4K, and now sports a market cap that's gone back under $1T. Earlier in the session, bitcoin had been trading just shy of $56K, and less than a week ago had nearly touched $65K - that's nearly a 23% tumble over the past few days.
- Ether (ETH-USD) has returned to $2,400 after earlier hitting a new all-time high of $2,650.
- In other news, one of Morgan Stanley's newly-offered bitcoin funds has raised $29.4M from 322 investors just 14 days after opening. That already makes the fund among the most popular private investment vehicles for bitcoin.
- Some more details on the fund: Only clients with at least $2M in net worth may invest, and bet sizes are limited to 2.5% of net worth. The average investment in the fund was about $91K.
- Bitcoin earlier today fell below 50% of the total crypto market cap for the first time since 2018.
Aye aye aye. That was a drop... thought we had another bounce in the wedge. Luckily had a stop loss in profit. That one last weekend kicked my ass though. Apparently need to switch to a bear strategy for a bit...
That one had me a little concerned for that drop. I have it set to show my gains for that particular stock or crypto and before the drop I was showing about $1000 in gains with Doge and as it dropped I was watching my gains drop by $100+ at a time! Every little change in price was over $100 less than the last one. I had already told myself I wouldn't pull the money because it wouldn't have made sense. Glad it leveled out some though.
DOW futures are up. Remember the DOW also dropped after the capital gains proposal. However what's the chance that they pass that? Weak hands will sell and people will buy the dip. Ethereum so far holding up pretty good.
If that was the top, then weakest bull market ever
I don't think this Bull cycle is over...this was whales dumping, fearing Biden's capital gains tax that was floated. A few things: 40% will never pass the senate. Might not even pass the house. It's going to go up, but they will settle on a more palatable percentage. We have had basically 20% corrections almost every month during this bull run, and every time there is always handwringing and grinding of teeth that the sky is falling and the bear market is here. We cannot compare this cycle to 2017-2018. So much has changed...you have banks and investment firms coming on board...smart contracts launching, NFTs starting to gain acceptance. We are in uncharted territory in terms of what happens with mass crypto adoption.
Sent from my SM-N975U using Tapatalk
Sent from my SM-N975U using Tapatalk
Another indicator not showing a top
Users who are viewing this thread
