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    [Daily Discussion] - Sunday, February 28, 2021 Bitcoin Markets

    February 28, 2021

    [Daily Discussion] - Sunday, February 28, 2021 Bitcoin Markets

    [Daily Discussion] - Sunday, February 28, 2021

    Posted: 27 Feb 2021 09:00 PM PST

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    Bitcoin Storm Tracker: Feb 27th Weekly Recap and Projection

    Posted: 27 Feb 2021 11:32 AM PST

    TL;DR - Dip Came early and strange market conditions, but still bullish using the current LPPL model.

    Price action shows a sooner and lower dip than anticipated, but appear to be consolidating this week as expected.

    The market actually appears to be heating up, as more frequent oscillations moved the critical date by which we expect a collapse to early June 2021.

    While recent movements may spook those new to Bitcoin, it's not that much different than those experienced in 2017. In fact, the local corrections have stayed below 30% on the daily price chart, which is less volatile than those experienced in 2017.

    Experimenting with an "overheat-o-meter" (still a work in progress): we appear to be in a consolidation zone of $39k-$55k, and will overheat above $55k. The next consolidation zone appears to be $55k-$75k.

    Bitcoin will keep you humble, and this past week did seem to be fairly unlikely according to the model. If you notice the lower dashed green line in last week's forecast, we appear to have been consolidating around that level. This week's forecast sees a potential for a temporary dip to as low as $39k, and then upwards pressure up.

    I see some combination of last week's and this week's forecast as presenting two possible future trajectories. As discussed in the post, this week's forecast anticipates the market will further heat-up, while last week's forecast predicted general consolidation.

    Link to post: https://numbermath.substack.com/p/bitcoin-storm-tracker-feb-27th-weekly

    submitted by /u/DROP_DATABASE_USER
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    Questions about taxes & using BTC as a method to sell an item

    Posted: 27 Feb 2021 05:21 PM PST

    Hello! I have never used crypto at all, but I am looking into using Coinbase (BTC) for a sale that I will be making soon. I will essentially be using it as a middleman before instantly transferring the money to my PayPal. Simply: sell my virtual in-game item -> receive $5000 worth of BTC -> instantly exchange said BTC to PayPal using Coinbase.

    I had received the item that I'm selling a few years ago for free, though at the time it was only selling for around $700 or so - now it is selling for around $5000. Does this have any relevance to taxes at all?

    How would taxes play into this, exactly? I am not going to be trading, investing or holding any BTC at all - just instantly exchanging it to PayPal, presumably the same exact amount I had received from the sale.

    Thanks in advance for any help, hopefully I explained this well enough! Sorry for the silly questions! :)

    submitted by /u/usavu
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