Even by TA standards, that's just laughable.

Like any consistent contrarian, A_C_Slater manages to be wrong about almost everything incredibly often.

*savings technology

How is increased demand for dollars going to hurt the purchasing power of those holding dollars, ceteris paribus?

The moron who was quoted not only said saving account but said secure savings account which makes it even more laughable.

Savings technology is still a very poor description of what BTC is. It is something you can put your savings into and it is a technology but that description is terrible. Calling it a investment technology is better but would still be a term youÂ’d expect to hear from someone who isnÂ’t sophisticated. I think they use the term savings to trick stupid people into thinking BTC is safe.

Chain analysis is useful for long term macro trends in my opinion, but short term is still ruled by whales and leverage. There are some on chain indicators and oscillators I am monitoring for "end of the cycle" stuff but too early to say whether those will stand the test of time.

Also -

Why is btc "not safe"? Theres obv a chance it goes to 0. I could argue the % it goes to 0 is much lower than your treasury bonds imploding

Lmao if you think its a savings technology but not a savings account.

Oh wait no its an investment technology.
Truly genius

Dont take a dump on my hopium pls, the lines says it

My limit orders filled at 42.5k, 45.5k and 48.3k on coinbase pro. Even looking at the 1 minute chart I'm confused as to how the 42.5k order hit, but certainly not complaining.

100k+ seems much more likely in mid/late 2022 and I've never been on board with all the wild 250-500k predictions for this cycle. Maybe next cycle, and certainly by 2030 we'll be 250k-500k+ easily if not closer to 1M. Just keep stacking guys and don't worry about the short term volatility.

1 year ago today the price was $19,300. 150% 1 year returns seem pretty good to me

It won't hurt the dollar purchasing power until all the minor countries fiat have collapsed into the dollar. The Central Bank will then believe they can print dollars with impunity because every Nation in the world has converted to it. In the short term dollar very strong, that leads to Fed hubris and future devaluation, then people look to digital property to play defense. I am 54% in dollars, patiently waiting.

If you really think the % chance t-bonds and BTC going to zero or even down 85+% is close we aren’t going to discuss this any further.

BTC bulls like associating BTC with a savings account because it confuses stupid people into thinking it is safer than it really is. This isn’t a semantics issue. It is clearly intentionally mislabeling something it isn’t in the same way Biden pitched his print and spend bills as costing zero to confuse stupid people into thinking it isn’t as bad as most people know.

I love being 60 IQ

I didn't say the % chance is similar, I said the EV of bonds is dogsht. The % chance it implodes, even if very little, is too big when you consider the upside. Id say the EV of bitcoin is magnitudes greater, so to not own any in your savings account.. its a mistake.

Lets play a game, what is in your biggest savings account right now, what do you own in it? What % of each asset. What dp you use right now to "save" money from it's loss of purchasing power?

Buying TMFD.

I would not argue that bonds have a higher EV than BTC.

It is impossible to own either a bond or BTC in a savings account. If you think you own a bond or BTC in an account I can assure it is not a savings account. Remember the term savings account is a very specific type of account.

I do not own a savings account because I do not think they make sense for me. The majority of my retirement accounts, HSA and taxable accounts are made up of individual stocks, stock funds & BTC. I own other things but those make up the majority of what I own in those accounts.

i think you guys would look a little less stupid if you weren't arguing wholly different topics and while failing to understand that you just call the other guy names

Wow, Bitcoin is 48g now? Still so expensive....

This crash was not like other corrections, looks more like the (bumpy) road back to 12k

Yeah he is just triggered at the word "account".

Whatever. If bitcoin is 30k in jan/feb I'll buy you a 300 bucks whore mikey, value taken straight out of my main savings account (my ledger nano).

agree. we had low volume chop for weeks/months during massive hype and public interest. then the snap dump down from 56k -> 42k in about 15 minutes. the long bear market has begun

^lol...

read the technicals.

ANOTHER leverage cascade...

Welp the monkeys have started to come out of the woodwork.... officially a bear market, gg lol.

I personally know a handful of people who buy on a monthly basis no matter what. They aren't being emotional about it, they just buy their $400 or $1000/month in their retirement and that is that. I knew ZERO people who did this 3 years ago. These same people were involved back then because of me and they were emotional and in and out and essentially missed out on a lot of potential gains. They seem to have learned their lesson. What I'm thinking is if I personally know a few people doing this, how many are there? Granted I'm going to be exposed to more then most because I've exposed many people to crypto. The point is, any dip or dips are just going to continue to be bought up endlessly with these monthly buys.

THE TRAIN WILL ROLL ON!!!!!!!!!!!!!!!

I'll be curious to see if this was the monster shakeout of leverage before the next big run, or if we are in bear market territory for a while.

I think the train mutha ****ing rolls on!

NSFW language

What happens to the BTC that gets liquidated through leveraging?

liquidated longs = forced selling; people with limit orders set down those wicks are buying them. In the ultimate manipulation scenario, whales dump their coins to start the cascade while they have limit orders set to buy the forced sales