• Breaking News

    Saturday, March 6, 2021

    Home Unlabelled [Daily Discussion] - Saturday, March 06, 2021 Bitcoin Markets

    [Daily Discussion] - Saturday, March 06, 2021 Bitcoin Markets

    March 06, 2021

    [Daily Discussion] - Saturday, March 06, 2021 Bitcoin Markets

    [Daily Discussion] - Saturday, March 06, 2021

    Posted: 05 Mar 2021 09:00 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

    Other ways to interact:

    Get an invite to live chat on our Slack group

    submitted by /u/AutoModerator
    [link] [comments]

    Bitcoin Storm Tracker: March 6th 2021 Weekly Recap and Projection

    Posted: 06 Mar 2021 09:13 AM PST

    TL;DR -

    • Currently in a holding pattern due to macro economy, but upwards pressure is building. No quantitative predictions in the bullet points this week.

    • If there is an ATH by April, we can expect a euphoric rise in the April-May timeframe, otherwise we may enter a more laid back market until the Fall.

    • The next few weeks are critical for the macro picture. Bitcoin still looks poised for takeoff, but hedging might be a good idea if Fed rates increase.

    Macro factors seem to be pushing Bitcoin to have either a euphoric rise in April-May or later in the Fall. As discussed last week, there seem to be two outcomes the current bull market is flipping between, and macro factors could influence which scenario actually plays out:

    1. Short-term Overheating: Recently, the model suggests the price action is consistent with overheating. We're in a temporary consolidation zone, and then the price will skyrocket April-May with extreme euphoria. This points to a top between $100k-$200k (actual number is anyone's guess) before the end of June.

    2. Short-term Consolidation to repeat Fall 2017: If we consolidate for the next weeks to months, the market will cool down enough and we could coil up for a run in the Fall, similar to what happened in 2017. In this case, we can expect a slower rise through $100k over the summer and then a wild dash past $200k+. Under this scenario, I think talk of the "super-cycle" could drive the price to wild heights I dare not predict. But Bitcoin is here to surprise us.

    Both scenarios are at the mercy of the greater economy, and this brings us to the even more speculative discussion in the rest of the post.

    While Bitcoin was built to fight inflation, the chaos inflation can cause in the markets will not necessarily be good for Bitcoin in the short term.

    Long term, Bitcoin adoption should increase and its value along with it, but for the current storm formation, this is a space to watch.

    See the full post: https://numbermath.substack.com/p/bitcoin-storm-tracker-march-6th-2021

    submitted by /u/DROP_DATABASE_USER
    [link] [comments]

    What's your exit price(s) on this bull run?

    Posted: 06 Mar 2021 08:11 AM PST

    Seeing quite a few predictions here based on log charts that BTC is going to 150k, 200k, 400k, etc. by EOY then crashing 50-90% in '22. If you think the markets are going to follow this pattern a la 2017, then what are your exit points and reentry points? These could always change but I'm interested in what your medium/long-term strategy is to capture most of the anticipated highs of the bull run.

    submitted by /u/PreacherClete
    [link] [comments]

    Bitcoin investors are holding their coins again

    Posted: 05 Mar 2021 03:55 PM PST

    From the article :

    ​

    The total number of Bitcoins on the exchanges is falling again, having gradually decreased since the beginning of 2021, according to data from Glassnode.

    Knowing how much Bitcoin is held on the exchanges can tell us a lot about the current state of the market, as well as giving us insight into what Bitcoin investors are thinking. If Bitcoin is drifting out of exchanges in mass, it tends to mean that investors are saving their assets for the long term, rather than looking to trade for short-term gains.

    ​

    "The data clearly shows an asset that is in high demand and appears to have investor confidence, which further implies that the resale of the newly acquired Bitcoin is not being considered in the short term," Jason Deane, Bitcoin analyst at Quantum Economics, he told Decrypt.

    ​

    Between February 23 and March 2, there was a 2% drop in Bitcoin held on the exchanges. This corresponds to 52,900 Bitcoins (US $ 2.7 billion) being removed from the exchanges. This continues a downward trend of one year, as more Bitcoins continue to be drained from the exchanges for long-term storage.

    ​

    Source : https://digesttime.com/2021/03/05/bitcoin-investors-are-holding-their-coins-again/

    submitted by /u/Theauntgate
    [link] [comments]

    Crypto winter: BTC price AFTER 2021 bull run

    Posted: 05 Mar 2021 11:23 AM PST

    What do you think the price of BTC will be, on average when the bear market returns in 2022? Or, how much in percent do you think it'll drop from the projected ATH later this year?

    I'm gonna guess there'll be an ATH of 115,000 USD in late 2021, followed by a bear market of 40,000USD for much of 2022. Let's hope my predictions will look completely ridiculous in time. :-)

    Agree? Disagree? Am curious to hear other's opinion, particularly those who've experienced previous crypto winters!

    submitted by /u/EDITORDIE
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment