Category: Bitcoin
The analysis published under this category are as follows.
Sunday, June 30, 2024
Bitcoin Happy Thanks Halving - Crypto's Exist Strategy / Currencies / Bitcoin
By: Nadeem_Walayat
Bitcoin on cue trended lower into halving setting a new swing low on Friday at $59.6k before bouncing post halving, currently trading at £65k. Overall picture remains for BTC in a trading range of $72k to $60k pending a breakout higher probably timed with when the dollar turns lower.
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Thursday, June 20, 2024
Bitcoin, Gold, and Copper Paint a Coherent Picture / Commodities / Bitcoin
By: P_Radomski_CFA
Bitcoin was heralded as the new gold. But the “old” gold ultimately managed to move above its 2021 highs, while the “new” gold didn’t.
Gold didn’t disappear; they both coexist, and they both have a strong anti-dollar vibe.
Questioning Bitcoin's Rally
But… Could it be the case that bitcoin’s rally is over? It hasn’t moved to new highs after all, despite halving, which was supposed to ignite a powerful move up. It seemed like a sure bet, as it limits the supply of bitcoins. Instead, it triggered another attempt (!) to move to new highs – one that failed, too.
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Friday, May 31, 2024
Bitcoin Trend Forecast, Crypto's Exit Strategy / Currencies / Bitcoin
By: Nadeem_Walayat
Dear Reader
This article is part 2 of 2 of my recent extensive analysis - Stock Market, Interest Rates, Crypto's and the Inflation Red Pill which was first made available to patrons who support my work. So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $7 per month, lock it in now at $7 before next rises to $10 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat.
Contents
Stock Market Trend Forecast
Swings Analysis
AI Stocks Portfolio
TESLA
Why US Interest Rates are a Nothing Burger
Stocks Bull Market Smoking Gun
Time to take the RED Pill
Crypto Correction
Bitcoin Trend Forecast
Bull Market Tops
Crypto's Exit Strategy
Coinbase MSTR 2.0
So much for the Rise of China Narrative
Sunday, May 19, 2024
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! / Currencies / Bitcoin
By: Nadeem_Walayat
Dear Reader
Bitcoin sets a new all time high of $69,000 before the exchanges pulled the rug on leveraged longs by dumping BTC down to 59,976 within a few hours of the high, job done and bitcoin is back to near where it was before the rug pull. Think about that for a moment, Bitcoin just dumped near $10k in a few hours and then recovered almost all of it! And this bull market is only getting started!
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Thursday, May 09, 2024
Bitcoin Price Swings Analysis / Currencies / Bitcoin
By: Nadeem_Walayat
Just as the 2021 Bitcoin bull market illustrated one can expect sizeable corrections during this bull market following a break to a new all time high in addition to the 10% intra-day swings where 2021 saw 3 major down swings of -31%, -25%, and -17% before the mini bear market ahead of the actual final high.
However, the swings to date averaging just -20% for THIS bull market have been a lot milder to date. So it's a choice between using the previous bull markets swings or this bull markets swings in attempts to extrapolate how the tops and bottoms will play out. However, given that most recent price action is more important than for this exercise I have gone with the most recent swings as likely to be more representative of what could come to pass.
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Wednesday, May 08, 2024
Psychologically Prepared for Bitcoin Bull Market Bubble MANIA Rug Pull Corrections 2024 / Currencies / Bitcoin
By: Nadeem_Walayat
Bitcoin sets a new all time high of $69,000 before the exchanges pulled the rug on leveraged longs by dumping BTC down to 59,976 within a few hours of the high, job done and bitcoin is back to near where it was before the rug pull. Think about that for a moment, Bitcoin just dumped near $10k in a few hours and then recovered almost all of it! And this bull market is only getting started!
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Monday, April 29, 2024
Is Bitcoin Still an Asymmetric Opportunity? / Currencies / Bitcoin
By: Submissions
What’s that screeching sound?
- Does this make you nostalgic?
I can still hear the screeching sound of my old dial-up struggling to connect to the internet.
Remember those days? I’d fight with my brothers and sister for a turn on our one family computer.
Slow websites. Frozen pages. Dropped connections. The early days of the internet were rough.
Sunday, March 31, 2024
Bitcoin S&P Pattern / Currencies / Bitcoin
By: Nadeem_Walayat
Here's a log chart of the Bitcoin price and S&P where I broken the bitcoin trend down into main bull and bear markets, which so far have been followed by minor bull and bear markets.
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Thursday, March 14, 2024
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! / Currencies / Bitcoin
By: Nadeem_Walayat
Bitcoin Crypto Mania $72k, Bitcoin proxy MSTR mania $1650, here's my Bitcoin analysis and concluding trend forecast for the whole of 2024 that was first made available to patrons who support my work who were buying bitcoin from 16k, no kidding $16k! Where this trend forecast for 2024 dates back to $27k, and then we had MSTR at under $500 in January, all for the price of a cheap Martini, $5 bucks! That's all! to have recieved my Bitcoin Gift! I could not have been any clearer at the time both for Bitcoin and the Microstrategy gravy trains.
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Monday, March 11, 2024
Bitcoin Gravy Train Trend Forecast 2024 / Currencies / Bitcoin
By: Nadeem_Walayat
Dear Reader
Bitcoin $70k, Bitcoin proxy MSTR $1400, here's my Bitcoin trend forecast for 2024 which includes how you could have bought BTC for $27k and MSTR for under $500 all for the price of a Martini, just $5 bucks! Being tight fisted has cost you the Bitcoin gift! Still it's not over! The crypto bull market is only getting started! Nevertheless my Bitcoin gift that was first made available to Patrons who support my work, so for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $5 per month, this is your last chance to lock it in now at $5 before it soon rises to $7 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat. I mean what you getting access for just $5 bucks is literally insane as you will soon find out....
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Wednesday, January 24, 2024
Make Bitcoin's Volatility Work for You / Currencies / Bitcoin
By: EWI
Here's a bullish forecast when a "crypto winter" was proclaimed
The price action of bitcoin has been the very epitome of volatility.
The good news for Elliott wave practitioners is that the greater the emotional swings in a financial market, the clearer the Elliott waves -- but not at every juncture along a market's price path.
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Saturday, November 04, 2023
Bitcoins FINAL Correction? / Currencies / Bitcoin
By: Nadeem_Walayat
Why is the bitcoin price falling if we are trending towards the SEC approving bitcoin etf's i.e. black rock?
I smell dark pools of capital at work engineering favourable price action to accumulate into. This could be the FINAL bitcoin dump before we wake up to a bull market to NEW ALL TIME HIGH's .during 2024 How low? maybe fall to 20k.... I will be scaling in as low as it goes, for the X4 to X5 payoff.
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Saturday, January 21, 2023
Bitcoin FTX Crime Scene CAPITULATION! / Currencies / Bitcoin
By: Nadeem_Walayat
Ai Stocks Portfolio
A quick look at the current state of my portfolio which is now 88.5% invested after arrival of approx 5% of fresh cash and after I sold all of my NBIX holding given that it earlier retreated from a multi year high, and that it tends to trade within a range of $125 to $76. I have update the table to indicate when columns were last updated. I have also replaced the beta column with something more useful called Future Growth (1-10), which is basically how I see the COMPANY doing in terms of future growth potential where 10 is the highest and 1 is the lowest, note this does not mean that the stock prices will match growth potential due to a myriad of factors such as sentiment, valuation and politics, but it gives insight into the underlying prospects for the businesses where the two stocks that score 10 are AMD and TSMC which is why I am heavily invested in both and don't fret about stock price drops in either as recently experienced because the underlying businesses have huge long-term future growth potential. Stocks that score 9 are Nvidia, Facebook, ASML and IBM, which again means I am not too phased by what we recently witnessed with the likes of META and and Nvidia, stock prices rarely reflect the actual state of the underlying business as they oscillate between extreme fear and extreme FOMO as illustrated when one watches the Cartoon Network (CNBC).
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Wednesday, July 20, 2022
Bitcoin Scams to Be on the Lookout For / Currencies / Bitcoin
By: Steve_Barker
Crypto scams are on the rise, with CNBC reporting that in 2021 "a record $14 billion" was snatched by cyber criminals in all sorts of ways!
Bitcoin scams are a major part of the fraud that's been happening in recent years. This makes sense since Bitcoin has the largest market cap by far more than any other cryptocurrency.
In this guide, we'll delve into the shady world of Bitcoin and crypto scams. Read this article in full to get the lowdown on everything you should look out for and aim to avoid in terms of crypto scams!
Saturday, June 25, 2022
Who (or What) Is Really in Charge of Bitcoin's Price Swings? / Currencies / Bitcoin
By: EWI
Bitcoin lost three-quarters of its value since November. "Market fundamentals" have lost control of its trend. But something else has been at the wheel the whole time.
I'm not ashamed to admit I have the technological intelligence of an Eggo waffle. So, when my computer bugged out the other day, I called the IT department at work. The tech wizard on the other end showed me to a webpage where I had to click a box that read: "Consent to Control." From that point, the IT guy was able to hack into my laptop, find the source of the glitch, and remedy the problem.
As I sat there watching my cursor move around the monitor on its own, clicking tab after tab as if by some phantomlike force, I thought,
"Holy moly, this is the virtual screenshare of mainstream financial wisdom."
Summarized as such: External forces known as "market fundamentals" operate prices remotely. Positive fundamentals cause the price "cursor" to rise, while negative news and events trigger selloffs. And investors? They have little choice but to "consent" to this outside control.
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Wednesday, May 11, 2022
Is Bitcoin Headed to Zero? / Currencies / Bitcoin
By: EWI
"40% of bitcoin investors are now underwater"
Charlie Munger is Berkshire Hathaway's co-chairman, and on April 30 at the firm's shareholder meeting, he said:
[Bitcoin] is stupid because it's very likely to go to zero.
Berkshire Hathaway chairman Warren Buffet also expressed a negative sentiment toward the cryptocurrency.
Bitcoin's recent price action appears to support the views of the two billionaire investors, at least at this juncture.
Here's a CNBC headline from the evening of May 9:
Bitcoin dips below $30,000, drops more than 56% from its all-time high
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Saturday, April 09, 2022
What to Make of the Bullish Resilience of Bitcoin / Currencies / Bitcoin
By: EWI
"A corrective pattern is countertrend to the larger trend in force"
Every time an obituary is written for Bitcoin, the granddaddy of cryptocurrencies manages to resurrect.
As a Jan. 25 CNBC headline noted:
Investors fear 'crypto winter' is coming as bitcoin falls 50% from record highs
The day before that headline published, Bitcoin had briefly dipped below $33,000, far below its November high of nearly $69,000. At that time, the entire crypto market had shed roughly $1 trillion in value since that all-time high in Bitcoin. Also around that time, Russia's central bank had proposed banning the use of cryptocurrencies.
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Wednesday, March 16, 2022
Bitcoin Jumps 9%: Is This Executive Order the Reason? / Currencies / Bitcoin
By: EWI
Here's what our "wave model" suggested for Bitcoin before the rally
Bitcoin and other cryptocurrencies surged higher on March 9.
CNBC provided this explanation (March 9):
Bitcoin and other cryptocurrencies were higher on [March 9] after President Joe Biden announced his highly anticipated executive order on digital assets that appeared to take a supportive stance toward the industry.
The basic message of the executive order focuses on development of the crypto market as opposed to unrealistic regulations.
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Monday, December 27, 2021
Crypto's, Bitcoin on Cusp of BreakOut Trend Trigger to All Time Highs, BTC $100k Alt Coins Higher / Currencies / Bitcoin
By: Nadeem_Walayat
The crypto markets from Ethereum to Cardano to Polka dot right down to Ravencoin are at the cusps of breaking a significant trend triggers that would set them on course to new all time highs, of course led by the number 1 crypto that they are all leveraged to BITCOIN! How high could BTC go ? $100k all within a couple of months with far higher targets for the alt-coins. Find out why in my latest crypto video posted BEFORE the breakout moves take place..
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Monday, November 22, 2021
Why BITCOIN NEW ALL TIME HIGH Changes EVERYTHING! / Currencies / Bitcoin
By: Nadeem_Walayat
Crypto Portfolio Current State
So far the crypto markets have managed to dodge the black swan bullets and so I hold ZERO of the two largest market cap crypto's, Bitcoin and Ethereum. Instead what had fallen to deep discounts have been the Alt coins, though again not to the extent where I would have piled in head first hoovering up huge amounts of crypto's as the current state of my crypto portfolio illustrates where even the crypto I have been banging on about all year Ravencoin is just scratching the surface at about 12% of my target holding, the table lists crypto's in order of my target $ position size.
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