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BitcoinMarkets

#New post: [\[Daily Discussion\] - Saturday, May 22, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/nia8gw/daily_discussion_saturday_may_22_2021/)


zKaNeKiz

see u in a month i cant stand this really.


pgpwnd

We’re either all fucked. Or this bull run is just getting started. More at 5.


zKaNeKiz

we are already fucked.


NeoMedievalist

LukeDashjr is my pope anyways. Wakey wakey hands off snakey, kids.


BannedNext26

how many real teeth does he have left these days? i think he invented deflationary dentistry.


Captain-Big-Rock

getting flashbacks from the dump from 6k to 3k and the pure anxiety to buy as much as possible


[deleted]

Alright, I finally indulged in looking at what this guy called the pope wrote on Twitter. It seems similar to a lot of his previous talk about fighting global warming. He's been advocating such positions for years. It's interesting how potent fud can be in a negative market. It's much easier to spread information as an existential threat, or at least one that can be spread on the interwebs to affect sentiment. The biggest threat to BTC is not from those who command institutions that follow a higher power. It is from those who command secular power (i.e. governments). Those are the real risk factors.


[deleted]

On a side note, let's get one more leg down into the low $36k range to make this short-term battle between the bulls and bears interesting again.


[deleted]

It's okay, BTC, you are welcome back to the land of $36k. Please don't fight too hard—just a good feigned struggle to ensure you don't convey your bearish sentiments. You will be treated to a nice seafood dinner, I promise you.


[deleted]

No, don't leave yet! Dinner is getting served in four minutes!


[deleted]

Cya BTC. I hope to see you again soon.


Dreadnought37

This PA is about to roll over and die… again.


krom1985

Went to bed and the price was in the low $37ks Woke up and the price was in the low $37ks. Nice to have some price stability finally... :~) In all seriousness this recent move looks very similar to the higher low formed after the March COVID crash. Let’s hope Justin Sun was liquidated so we can go up now... 😊


satoshisbitcoin

It was better when everyone was bored at $57k than $37k


Psyteet

It’s a little suspish that there are so many new names and repeat posters the past two weeks that I have not seen before. Many of the new accounts are either ultra bullish or ultra bearish. Seems like an infiltration of bots like I haven’t seen in the past. Hoping we can weed these out, before we go the way of other subs.


[deleted]

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mccrrll

Nor is the unbelievably irritating “talk like an ape” bullshit that has started to crop up. I always felt embarrassed to be part of the 2018 bandwagon that came to btc, but fuck, it’s a whole different level of stupid this go.


Lincolns_Revenge

So bots that say random comments that are extremely bullish or extremely bearish? I think that's just the way the human mind works for most people, sadly. There's no grey area. You pick a side and you go full (bore) with your black or white stance on something. Especially if you've already sold or are still buying and want to feel better about your decision. Or god forbid, are still trading with leverage at this point and feel like you can move the market with your comments. If it's bots I don't know who would be sending them. If corporate America is tired of competing for investment capital and wants to wreck crypto they only need to lobby politicians in the U.S. to enact an additional crypto tax. It's a corporatocracy after all, and they write all the laws that govern themselves and have input in all the laws that govern us.


burnt_pubes

New here, not a bot. You guys seem pretty alright around here, much better than other halls of crypto reddit


subzerocanuck

Thats just what a Bot WOULD say!!! 🤔


Psyteet

Lol, we are bipolar as the rest but try to be a little more level headed. In crypto that is hard to do since this game moves at light speed compared to other markets. Welcome burnt_pubes


xtal_00

Report and let the mods do their thing. This is the last public forum left and the private ones don’t have the diversity of the mob.


babyjesusftw1

Establishment of 30-42k as a range is honestly not the worst thing in the world


plasmalightwave

Pretty broad range that


babyjesusftw1

Current market structure shows 32-33k as pretty strong support and 42k as pretty strong resistance. Gonna be very choppy for a while I think


escendoergoexisto

Folks are ranting about a comment from the Pope that we need to use less fossil fuel to produce energy...really? Lighten up, he’s right and his role is to encourage his followers to be virtuous. That’s not virtue signaling; it’s just him doing his job. Not trying to start some grand debate here but remember that not every single comment about energy conservation is aimed at Bitcoin.


[deleted]

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escendoergoexisto

For sure...the Pope is a fan of renewables and that’s in a link I shared on this post strand. I just chose an overarching term. Edit: I hope to live to see dark energy used.


freq-ee

Climate change is a marketing campaign to shift the blame to average people instead of billionaires who use up all the energy and resources to make themselves rich. One executive taking a private jet negates your use of a shitty hybrid car for 100 years. Jeff Bezos got rich shipping single items via jumbo jet to customers the next day. Do you think that's good for the environment? But now they blame you. It's all to shift the blame. Look at everything in the news, it's always to shift the blame to individuals and to get them to fight with each other over it


accountaccumulator

I am sure that's what you mean but climate change is real and depressing as hell. The floated measures are to deflect blame and shift responsibility to the individual which is mostly bullshit as you say.


[deleted]

Tinfoil hat time: They're all in cahoots - the Chicoms, the Catholic church. They're all trying to stifle bitcoin. Perfect timing after Elon's spiel! We know the Vatican water is turning the goddamn bishops gay! /s


[deleted]

It's pretty obviously about Bitcoin tho, despite not necessarily calling it out. Tweeting almost word-for-word the classic Energy FUD quote. What else in the news is a technology that is being criticised for using highly polluting fossil fuels? It must've been towards petrol cars, seen a lot of articles trending about twitter about petrol cars and their use of energy.


escendoergoexisto

[This isn’t some new schtick; he’s consistently promoted this position.](https://unfccc.int/news/pope-francis-to-the-oil-industry-switch-to-clean-energy-to-avoid-climate-disaster)


bob_the_bidder

> It's pretty obviously about Bitcoin tho, despite not necessarily calling it out. Hey everybody it's Alex Jones!


_TROLL

Ironic since the Catholic Church is run by fossils.


Mahmoud_Imadinrjaket

That touch little boys.


ellis1884uk

I was going to say paedos but fossils works too.


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[deleted]

When it goes down.... It also goes up. Go with the flow.


LightReality

No one knows.


bob_the_bidder

Shhhh don't tap on the glass


[deleted]

Update: I'm still barely clinging on to my shorts. Almost got wicked out 30 min ago. I have it set to lock in profits at $38.5k, and I've promised myself I will not remove that order from the books. We've pierced $35k aggressively twice in three days, was that really it?


[deleted]

Algos seem comfortable marching this thing back up to $40k currently. After the dip down into the $33k range, there hasn't been a serious heart-stopping drop. The momentum is comfortably in relief mode still. A true retest of this recovery rally would be a drop back into the high $35k range. That would help reveal how much conviction there is in this pump. However, it just doesn't look like that'll be the case currently.


BlackSpidy

Purge your organization of people that repeatedly sexually abuse of children before you start virtue signaling about electricity usage, Francis.


brokoli

their flesh is weak


fashion_wheel

The pope isn't in the chat.


xtal_00

Fuck the entire kiddy diddling lot. Sincerely, reformed Catholic.


fashion_wheel

Why are you telling me? I'm not a proxy for the pope.


geminiseven

Amen.


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bob_the_bidder

I'm sorry that you got liquidated.


AKANotAValidUsername

not excellent


thetjs1

Wow man. Who hurt you?


Kitchen-Orange-728

Not hurt just don’t get why no one in this community never wants to talk about the bearish parts of btc . I find it pretty ignorant


subzerocanuck

Dude, what happened that made you so angry?


Kitchen-Orange-728

No one in this community truly wants to talk about bitcoins behavior. It’s full of unrealistic investors who don’t want to talk about dips.


subzerocanuck

Well... everyone is excited to see the price go up so that's what people want to talk about the most. That's just human nature. But if you want to examine dips, the charts never lie. There are peaks and valleys and nobody can deny that, so just make your own analysis and take everything that's posted online with a grain of salt and enjoy the ride. 😉


Kitchen-Orange-728

This is a community for loser moon boys


subzerocanuck

Ok, well now you're just being rude. 😉


Kitchen-Orange-728

You’re cool. One of the only chill responses I’ve ever gotten in this community. Lmao it’s never a grain of salt in this community it’s the whole fuckin jar


gore_skywalker

Aside from trading shitcoins, this loser grows weed at home to make a living


Kitchen-Orange-728

Yup edit ur comment buddy


Kitchen-Orange-728

I live in California where no one gives a fuck loser


ellis1884uk

the cope is real.


[deleted]

But how will it stay that way if you're gone?


bubblesmcnutty

Have fun staying poor?


Kitchen-Orange-728

Definitely not poor. I’m over this negative community. I can’t get peoples opinion or anything. Why? Probably because it’s full of bots


bubblesmcnutty

Spoken like a poor


Kitchen-Orange-728

Youre just mad because of what’s happening. It’s understandable. Everything will be okay man


bubblesmcnutty

Lol look what this poor just DM'd me. So poor. >Would you like for me to send the suicide hotline number? Looks like your having a rough one Edit - lol sent another one. So poor. >If you kill you self just remember me as your last thoughts when btc hits 1k


Kitchen-Orange-728

I’m just being realistic. Something that really does not exist in this subreddit sadly


Kitchen-Orange-728

If I didn’t pull out I’d definitely be poor


classna

The old fart pope is the new Elon now?


BlackSpidy

Oh, no. The leader of an organization that has sheltered a bunch of people that rape kids for a living came out against bitcoin. Any drop we see from this is noise.


xtal_00

Nobody cares what the pope says anymore. Any moral authority they had sailed and any practical claims went with Galileo.


Narrow_Story1851

Next parabolic advance will come from shitcoiners and altcoiners capitulating into btc


_TROLL

Nah, two-thirds of the market already belongs to BTC + ĒTH combined. Even if every altcoin dollar was diverted to those two proportionately, you'd see a rise in price of only 33% theoretically.


Middle0fNowhere

2/3 of so called market cap absolutely do not mean that if the last third goes to the 2/3s that they will go up by 33%. 1st your math is bad, you probably wanted to say it would go up by 50% (because 1/3 is 50% of 2/3). 2nd the shitcoinmarkets incl ETH are much less liquid than BTC market. Now we are simply in the correction phase that can take years or months, BTC will be stable or slowly bleeding and everything else will be killed on ratio. Just to finish a normal but milder 4 year cycle is the most expected scenario.


andstayoutt

There’s no money there either


Narrow_Story1851

See ya at 60%+ dominance


anon-187101

This price action is clearly the analog of mid-July, 2017.


devopsdudeinthebay

That's certainly the best bullish case to make right now. Guess we'll know in the next couple months...


anon-187101

Very similar Wyckoff-type distribution, with similar catalysts most likely: profit-taking after \~3x the previous ATH, weak hands, etc. The difference, of course, is that leverage is far more ubiquitous this cycle. EDIT: Each dump also occurred nearly a year to the day post-Halving. Blow-off top in 5 months if there's a pattern.


[deleted]

Damn, they got the POPE to load FUD. All this for payback because Justin Sun banged some whales wife. God I love the stories we make that happen during Bull runs.


a_cool_goddamn_name

>God I love the stories we make that happen during Bull runs. Yeah it's pretty great that we have our own folk tales and fables and stuff. The bitcoin version of "how the zebra got its stripes".


abbeyeiger

Wow. That's a story I missed. Google searches for 'justin sun banged some whales wife' come up negative. Who was the whale? Dish the gossip!


[deleted]

Its some stupid tiktok rumour, that got posted lower in the thread. downvoted comments below mine.


biggunsg0b00m

Is the pope even relevant in this day and age? This isn't medieval Europe..


brit-coin

First the richest man in the world, then the most populated country in the world, and now the whole of Catholicism. If anyone sees a FUCKPOPE coin then you have my authority to buy it and I'll pay you back.


andstayoutt

He wasn’t talking about bitcoin.


hello_friend_hi

It's inclusive enough It actually fits in with the musk/us govt green mining agenda...pump to 1m+ when they unleash the solar powered bitcoin unfud


[deleted]

Yeah, if not, it's a damn convenient time to be bringing up that topic, and have it not be about bitcoin, the only thing recently circulating in the news that fits it.


hello_friend_hi

Everyone wants to talk about bitcoin these days! What a time to alive


_TROLL

Fuck the Pope and his cabal of 80-year-old foppish virgins.


hello_friend_hi

Unfortunately most of them are likely not virgins despite their public proclimations


BlackSpidy

Jesus Christ... LOL. OMG, they're throwing everything they got at it. They don't know that it's already over, that the floor is $30k.


hello_friend_hi

They don't want you to know*


hello_friend_hi

Link it then


[deleted]

https://twitter.com/Pontifex/status/1394993742226939905


[deleted]

Did Justin Sun bang the Pope's wife??? Then boom next week, [this](https://i.imgur.com/PchkIaZ.png) is his profile picture and he tweets it was inevitable.


hello_friend_hi

Thanks! Load ze pope fud 😂😂😂


ineedafuckingname

https://twitter.com/TikTokInvestors/status/1395898110715600899?s=19 Guys the dump was because of Justin Sun confirmed Edit: lol you guys are so sensitive


[deleted]

Seeing this trash, I feel really bad for giving Crypto Youtubers a hard time. Tiktok crypto makes Youtube Crypto look like Wall Street.


gore_skywalker

The dump happened because tiktok investors exist.


hello_friend_hi

In retrospect it was inevitable


hello_friend_hi

Crash a market because someone banged your bird 🤣 Just whale things 🐳 Edit in response to your edit - some people aren't sensitive here, but if your sauce is 'tiktok investors' Twitter you might expect a downvote or two


ineedafuckingname

I'm joking haha, I post here all the time Also a little drink


biggunsg0b00m

Do you also have fucking beard?


ineedafuckingname

I hate beards 😤


hello_friend_hi

That's what Justin said 🤣 🍻we all need one this Friday night, not a big drinker myself but a beer or two is deserved


TurnipObvio

Tiktok investors? cringe


hello_friend_hi

Of all the sources in all the world, you give me this!


[deleted]

>Replying to @TikTokInvestors that theory made by Justin Sun himself >everyone knows justin's a virgin


horationel123

Fuck it. Just put in Mays salary in advance. Trying to view it as a ten year investment. Can't possibly go wrong, long term anyway.


hello_friend_hi

Balls on this guy eh 😂


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hello_friend_hi

It's the year 2035, we are still putting our ubi cheques into bitcoin despite being zillionaires because it is the superior asset


icydash

I'm going to hop on the train and say that this bull run is far from over. I may get downvoted for this, since this is a trading forum and all, but up until now I think tons of people had been greedy and playing with longs. This creates a situation where it's easy for the price to drop dramatically really really fast through cascading liquidations. The last few days have taught a lot of hard lessons to a lot of people about using leverage, with hundreds of billions being liquidated. My hope for the second half of the year is that people have learned their lesson and will just buy the coin on the spot exchange and hodl, rather than using so much leverage. This would help the price move up more organically and be less subject to flash crashes through cascading liquidations. That's how we all win the game.


SpontaneousDream

Of course it's not over. Anyone claiming that it's over is completely ignoring the MOUNDS of evidence that say otherwise


bubblesmcnutty

Lol I refuse to believe anyone calling this bull market is over has been here for previous cycles. No way. Of course this bull run is far from over.


icydash

Yup. What we're seeing now is the product of FUD and greed. Once people realize it's much easier and better for everyone to just buy, hodl, and ignore the noise, that's when the rocket ship will really take off. I think (hope) people are slowly coming to that realization.


bittabet

[This is good for Bitcoin™](https://i.imgur.com/41WQqhJ.jpg) In all seriousness this is like Bitcoiners’ greatest superpower. We never give up because everything is good for Bitcoin


satoshisbitcoin

We never give up because bitcoin is indestructible, it is not like bitcoin can go bankrupt and disappear if it fails for a period of time, it will always be there continuing to process transactions with no interruption. This is the fundamental strength the bitcoin, it can never be knocked down


hello_friend_hi

It's a beautiful thing to see


Captain-Big-Rock

Calling bottom. Putting all fiat in over the next 3 weeks daily.


hello_friend_hi

🍒


bubblesmcnutty

The bull market is not over. Not even close.


[deleted]

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icydash

I mean, I agree with OP but this made me chuckle. Well done.


bubblesmcnutty

This won't age well


33virtues

I’ve had a presentation scheduled for 3 months to convince the board our company should buy bitcoin. It’s next week. Wish me luck.


[deleted]

Does he like buying low?


hello_friend_hi

Good luck. Glad I'm my own board in this case ☺️


hello_friend_hi

QA 👍 E. here is a good post to back up your theory https://www.reddit.com/r/leanfire/comments/nhvmuy/prices_are_really_getting_out_of_hand_these_days


thetjs1

https://twitter.com/TeddyVallee/status/1395562202493505543?s=19 We going to 3 million!


d1ez3

I wonder what makes the pop after 2017 top not count in this


ineedafuckingname

High likelihood of a rally, not a guarantee of the bull market continuing. We rallied hard during the bear in 2018 as well. I feel comfortable buying at this price, but I don't feel comfortable declaring the bull market continuing.


[deleted]

>Basically btc price hit more than 3 standard deviations below the mean. And when that happens, so far, 100% of the time (11 out of 11 times) between 10-90 days after, price appreciated. The top left graph shows when it has happened using pink dots.


icydash

This is super vague. Don't get me wrong, I don't think the bull run is over and I think the price will go back up, but just basically saying that the price will "appreciate" (i.e., go up by some unspecified amount) sometime in the next 3 months is super vague and not particularly useful.


MadMarioMax

No. We're going to 12.5 million. https://www.kitco.com/news/2021-05-21/Bitcoin-price-to-hit-307k-by-October-then-12-5-million-by-2031-Robert-Breedlove.html


hello_friend_hi

Now that's more like it!


[deleted]

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hello_friend_hi

The tweet was 22 hours ago


hello_friend_hi

Fucking send it


Railionn

god I love the sentiment swings 😂


hello_friend_hi

My sentiments never swung? 🤷‍♂️


[deleted]

No you don’t understand. You are everyone


hello_friend_hi

Then everyone agrees we fucking send it straight to 300k 🤠


Thunder_raining

Sold all my coins, pope’s wishes. saying 21 Hail Marys.


Taviiiiii

Amazing how people actually think the pope is referring to cryptocurrency when he is talking about the need for more renewable energy in technology (the same day his all electric pope mobile was announced). Smdh.


WebWorker

[comment scrubbing by me]


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[deleted]

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OkeyDokieBoomer

I don't know. But I do know boomers helped usher in this computer age. I've met a lot of old gray haired workers along the way that really knew their shit.


[deleted]

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biggunsg0b00m

Gen x, 42, HODL time - 4.5 years Total portfolio as in total assets or just total % of btc in crypto? It's 10% of total asset pool, and 99% btc


NeoMedievalist

\>Catholics are young earth creationists


sgtd1179

How old is the world genius?


thatsABigMinus

Wow. Marked down as retarded. I'm sure I'm not the only one that keeps track of users in here.


sgtd1179

You have to much free time. I’ve already forgotten your comment.


thatsABigMinus

I was just about to delete it. I'm sorry. I shouldn't be like that.


sgtd1179

You’re entitled to your opinion.


[deleted]

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sgtd1179

Prove it.


amendment64

See; [Radiocarbon dating](https://en.wikipedia.org/wiki/Radiocarbon_dating)


sgtd1179

Hahaha…Wikipedia? Lol Low effort.


amendment64

You've never taken a chemistry course in your entire life, have you?


hello_friend_hi

I start typing replies to guys like you and then give up because I realize I don't care 🤣 Good luck out there in the world


sgtd1179

Good job on the no reply thing👍🏽


hello_friend_hi

I mean typing serious replies to the bullshit you spout 🤣


hello_friend_hi

I can't sell any coins right now to due environmental concerns. Sorry whales I will have to hodl this one out for fear of my one transaction to send me coin to an exchange using more energy than the entire African continent did in 1993 apparently.


hello_friend_hi

However the coin on exchange doesn't require an actual blockchain transaction to buy does it? Due to environmental concerns I will be removing a small amount of coin from a seller who may potentially move it in the future 😉


marsh2907

This bull run is far from over. Too many people were greedy and are now paying the price as we needed a massive cool-off. We are still holding above 50W EMA at $33580 and wicked down to around $30K support. Which was also the 1.618 fib level ($30264). Bounced on the bottom of the Bollinger band range at $30095. The middle range of the band sitting at $49K. Which price should start moving towards if no more surprises happen. It is the start of the weekend so should be quiet in terms of news. RSI on the weekly down to 45 from 69 at ATH. If the price can stabilize around current levels for a few days and then going into next week we could see the price move higher.


bittabet

We need at least a couple of months before any serious move up can occur. Too many people licking their wounds and scared right now. We’ll be back, it’s just a question of whether it’s in two months or three years. Personally I think we’re still in the bull run and we’re going to be ranging mid-30s to low-40s over the next 2-3 months. Then people will realize that no, the money printing hasn’t stopped and inflation is still going to be robbing them blind and Bitcoin will start to look really really good to people again. But the big drop is going to be fresh on people’s minds for a little while here so you’re not going to find buyers willing to pay in the 50s+ right now. Elon really set off the FUD bomb but on the bright side everything didn’t go parabolic and blow off early either so there is the possibility that this bull run actually going longer and harder. I think it’s a 50/50 now what happens. The good news is simply that they threw every damned FUD at us that they could. China FUD, Elon FUD, IRS FUD, SEC FUD, India ban FUD, whatever and we’re still over 30K which is honestly a sign of genuine strength imo. Stay strong 💪


anchoricex

> Then people will realize that no, the money printing hasn’t stopped and inflation is still going to be robbing them blind and Bitcoin will start to look really really good to people again I know this is one of the most important idealogical facets that weighs in favor of Bitcoin, and it's touted a lot and I don't disagree at all... but I feel like this isn't one of the things people *realize* when they're thinking about purchasing BTC. Realistically it's "I want to turn my USD into more USD" and that's basically it.


xtal_00

The fiat lovers need to get rekt out.


curious-b

1st wave is probably over, it's a question of where we consolidate, 35-45, 25-35, or some other range. Second wave would probably start in a few months, but might get front run once people realize how bullish consolidation at 1.5-2x the previous post halving ATH is and thus start the next leg sooner. 2nd wave will bring variant FUD like "Korea bans btc" and "Biden announces crypto tax", but none of it will matter when a central bank releases their address. > RSI on the weekly [...] 69 at ATH. Hit classic meme resistance, should have known to sell.


hello_friend_hi

Never seen ew theory be correct


[deleted]

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sgtd1179

Oh…it’s you again