Bitcoin on Friday shot up to its highest level in about a year.

The cryptocurrency rose above $31,400 a coin on Friday, its highest level since 2022, before paring back its gains. Bitcoin, the world’s largest cryptocurrency by market capitalization, earlier this week traded above $30,000 for the first time since April, when the collapses of Silicon Valley Bank and Signature Bank sent investors in search of safer places to hold their cash

And I nearly won the Thai lottery except that I didn't buy a ticket.

 

A nothing burger about Bitcoin. A meaningless report.

 

Now if it had risen and stayed there, that would have been news.

 

Stocks and shares in markets worldwide rise and fall daily.

 

Forex rates rise and fall daily

Just now, billd766 said:

And I nearly won the Thai lottery except that I didn't buy a ticket.

 

A nothing burger about Bitcoin. A meaningless report.

 

Now if it had risen and stayed there, that would have been news.

 

Stocks and shares in markets worldwide rise and fall daily.

 

Forex rates rise and fall daily

The reason it dropped was because there was strong bearish divergence. Often, but not always, divergences seem to snap back again. We'll see. I believe it will continue on up now that it has broken critical levels. Conversely, it's well above moving averages so may revert to mean.

Apple is now at a 3 trillion dollar market cap. Unbelievable. I never thought it would happen.

29 minutes ago, jaywalker2 said:

Apple is now at a 3 trillion dollar market cap. Unbelievable. I never thought it would happen.

Even though you thinking APPL would not reach 3T or not makes not a jot of difference lol, what does that have to do with the price of BTC?

I seem to remember one poster and crypto enthusiast on ASEAN who bought $200,000 worth, then went very quiet. I wonder if he/she has their head above water yet.

43 minutes ago, Lacessit said:

I seem to remember one poster and crypto enthusiast on ASEAN who bought $200,000 worth, then went very quiet. I wonder if he/she has their head above water yet.

 

They only post "successes" (so called) never failures/loses.

Similar to the poster on AN who on one post talked about friends only getting a % (loss)  back  and then stating 4 hours later that he did not know of anyone who had ever lost money on this Cr@p!.  Never did answer my request for clarification!

1 hour ago, ozimoron said:

The reason it dropped was because there was strong bearish divergence. Often, but not always, divergences seem to snap back again. We'll see. I believe it will continue on up now that it has broken critical levels. Conversely, it's well above moving averages so may revert to mean.

In other words anything might happen!

Do you write horoscopes as well?

43 minutes ago, scottiejohn said:

In other words anything might happen!

Do you write horoscopes as well?

Once you learn about T/A you'll also learn that it's a game of probabilities.

Just now, ozimoron said:

Once you learn about T/A you'll also learn that it's a game of probabilities.

Yes the probability of losing your dosh on this cr@p!

3 minutes ago, scottiejohn said:

Yes the probability of losing your dosh on this cr@p!

Remember not long ago when everybody was talking gold through the roof?

So BC rose like bad gas and the fart drop it where?

24 minutes ago, ozimoron said:

Remember not long ago when everybody was talking gold through the roof?

No!

I hope you meant to say "some people" NOT everyone!

6 hours ago, Hamus Yaigh said:

Even though you thinking APPL would not reach 3T or not makes not a jot of difference lol, what does that have to do with the price of BTC?

Tech and crypto seem to move in tandem. Bubble in one mirrors a bubble in the other. Cathy Wood is still predicting that bitcoin will hit 1 million eventually.

5 hours ago, ozimoron said:

Once you learn about T/A you'll also learn that it's a game of probabilities.

Only 2 options

1 hour ago, jaywalker2 said:

Tech and crypto seem to move in tandem. Bubble in one mirrors a bubble in the other. Cathy Wood is still predicting that bitcoin will hit 1 million eventually.

Cathie Wood, the biggest loser of the last 3 years. Haven't checked on her recently, but a few months ago her flagship fund was about 70% in the red.

If you wanted to know what not to buy, just looked at what Cathie was buying

9 hours ago, BenStark said:

Cathie Wood, the biggest loser of the last 3 years. Haven't checked on her recently, but a few months ago her flagship fund was about 70% in the red.

If you wanted to know what not to buy, just looked at what Cathie was buying

Sure, but META hit 90 at one point (now 288), TESLA 100 (now 259), MSFT 213 (now 335). Cathy's ARKK is up 35 percent ytd. BTC just hit a new 52 week high, which is amazing since during the tech crash half the crypto sector was shown to be fradulent. But what it shows is the bubble is still alive and well.

17 hours ago, Lacessit said:

I seem to remember one poster and crypto enthusiast on ASEAN who bought $200,000 worth, then went very quiet. I wonder if he/she has their head above water yet.

Just like Vegas....win once and tell and brag about it to everyone who will listen but not a word about the 97 times they lost.  In fact it is hard to imagine the casinos are able to survive with all those big winners.

50 minutes ago, pomchop said:

Just like Vegas....win once and tell and brag about it to everyone who will listen but not a word about the 97 times they lost.  In fact it is hard to imagine the casinos are able to survive with all those big winners.

To be fair, BC has a spectacular run the last 10 years.  I personally have not and probably never will invest.  The righteous rant to no end about the benefits but in the end it is simply a means of making money and very little else.  It will tank someday IMO but some might make a killing before that happens.  Seems like a fools game but intoxicating if you own crypto and no rational argument about the perils of investing in it will dissuade the crypto enthusiasts.  

20 hours ago, ozimoron said:

The reason it dropped was because there was strong bearish divergence. Often, but not always, divergences seem to snap back again. We'll see. I believe it will continue on up now that it has broken critical levels. Conversely, it's well above moving averages so may revert to mean.

The last 15 years of easy money policies has people believing what you stated above.  Forget about moving averages, divergence, etc (yawn).  Any fool randomly picking stocks would have done exceptionally well during this period.  Times are a changing...

How many more Billions of dollars have to be lost, stolen, gone up in smoke and scammed in this B coin game before it is recognized for what it really is?

37 minutes ago, Dante99 said:

How many more Billions of dollars have to be lost, stolen, gone up in smoke and scammed in this B coin game before it is recognized for what it really is?

It's no different from gold. No intrinsic value except what people are willing to pay for it. The fact that you can see and touch it makes no difference. Not one bitcoin can ever be destroyed unless the entire world's internet is brought down permanently. If that happens we will have a lot more to worry about than using a few bitcoin. Smart people never bet the farm on any one asset class anyway. Meantime, there's money to be made, or lost. I have a couple of grand sitting in bitcoin now. I lost a bit of money learning to trade but now I am up.

1 hour ago, ozimoron said:

It's no different from gold. No intrinsic value except what people are willing to pay for it. The fact that you can see and touch it makes no difference. Not one bitcoin can ever be destroyed unless the entire world's internet is brought down permanently. If that happens we will have a lot more to worry about than using a few bitcoin. Smart people never bet the farm on any one asset class anyway. Meantime, there's money to be made, or lost. I have a couple of grand sitting in bitcoin now. I lost a bit of money learning to trade but now I am up.

Incorrect. Gold has industrial uses, the computer or smartphone you made your post on has quite a few gold contacts, because gold is immune to corrosion. Its use in electronics of all kinds is widespread.

Mining companies used to turn their noses up at anything assaying less than 20g/tonne of gold, now 5 g/tonne is profitable and they are reaching for 1-2 g/tonne.

They are  doing that for a reason.

I have never lost money buying and selling gold, I am damn sure I could never say the same about crypto. IMO a Ponzi scheme, the proof of which is the number of scams surrounding it.

 

No one knows what will happen to bitcoin in a EMP event, I don't intend to find out the hard way.

23 hours ago, billd766 said:

And I nearly won the Thai lottery except that I didn't buy a ticket.

 

A nothing burger about Bitcoin. A meaningless report.

 

Now if it had risen and stayed there, that would have been news.

 

Stocks and shares in markets worldwide rise and fall daily.

 

Forex rates rise and fall daily

87% increase for the year and you say it is not newsworthy??

Or 18% for the week.

 

Irrational post. Your loss if you didn't buy, no need to be bitter. 

13 minutes ago, Lacessit said:

Incorrect. Gold has industrial uses, the computer or smartphone you made your post on has quite a few gold contacts, because gold is immune to corrosion. Its use in electronics of all kinds is widespread.

Mining companies used to turn their noses up at anything assaying less than 20g/tonne of gold, now 5 g/tonne is profitable and they are reaching for 1-2 g/tonne.

They are  doing that for a reason.

I have never lost money buying and selling gold, I am damn sure I could never say the same about crypto. IMO a Ponzi scheme, the proof of which is the number of scams surrounding it.

 

No one knows what will happen to bitcoin in a EMP event, I don't intend to find out the hard way.

Gold's industrial use reflects a miniscule proportion of its value. On another claim of yours in a different thread you might note that the price of gold is highly correlated with high tech stocks.

Interesting fact about BTC. 

 

ANYONE who started dollar cost averaging, no matter when they started is in profit now. 

 

 

Just now, Neeranam said:

Interesting fact about BTC. 

 

ANYONE who started dollar cost averaging, no matter when they started is in profit now. 

 

 

Easily disproved. If you started DCA in November last year you'd be heavily out of pocket now. If you started last week you'd be up a bit now. I'm still crying that I created a wallet in 2014 but never funded it.

2 minutes ago, ozimoron said:

Gold's industrial use reflects a miniscule proportion of its value. On another claim of yours in a different thread you might note that the price of gold is highly correlated with high tech stocks.

I was not aware of that, interesting. Causation or coincidence?

There's a word in BTC called HODL. 

 

No one, I repeat no one who has bought Bitcoin and held for over 2.5 years has lost money. 

 

It's not rocket science.  Even Michael Saylor can understand it. 

 

 

7 minutes ago, ozimoron said:

Easily disproved. If you started DCA in November last year you'd be heavily out of pocket now. If you started last week you'd be up a bit now. I'm still crying that I created a wallet in 2014 but never funded it.

Not true. 

 

Check this calculator for $100 invested daily.

https://cryptodca.io/crypto-dca-calculator/?coin=bitcoin&amount=100&currency=usd&frequency=monthly&start=2022-11-1&end=2023-6-20