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Googling how to induce a multi-year coma
At least this cycle has given a few things to laugh about:
https://twitter.com/woonomic/status/1411271233656672258
https://twitter.com/woonomic/status/1350878056676618241
https://twitter.com/woonomic/status/1347515257791516676
https://twitter.com/woonomic/status/1373552028945846272
Hey All,
Still slowly iterating on this tool, beginning phases of just giving a realtime look at price differences in the same pair across markets.
https://asset.gift/tools/arbitrage-map
Any suggestions on what columns I should add for metrics?
Are we all done for this time?
Stopped out of long. Moral: don’t sleep
Have vomit bucket ready; waiting to see market open. Might be exciting.
Does anyone know of Merlin is still around?
I can’t find his exact username
feeling cute, might capitulate later
Welp my stop lost got hit, now time for a reversal to make me feel stupid for my decision.
Good news everyone. BTC spot ETF approved in Amsterdam gonna lauch next month. I doubt it will have a big effect now but during next bull it s another gateway for more money to pour.
when there is doomer memes on r/buttcoin , bottom is in
when there is WAGMI memes on r/bitcoin , it’s time to sell
almost too easy?
FT wrote an opinion on FEDs rate policies. There’s a third way that they did in the 70’s – flip flopping between addressing inflation vs employment for a few years, which ends up slowly and painfully wrecking everything.
India, Russia, and China are all starting to trade with each other without USD. More countries will follow. Dollar is doomed, bitcoin still has a chance.
Fed pivot can’t come soon enough, but probably not until September or October. Until then we must suffer.
> This dire outlook has been long coming. The current debate about inflation and whether the Fed’s monetary moves have been too late or too aggressive misses the point. The U.S. has been on an unsustainable fiscal and financial path for a long time. We are beginning to see the inevitable result.
This is rough
Everyone at >$40k: “if it ever drops to $20k, I’ll be backing up a fleet of trucks!”
Everyone at <$20k: crickets
With tradfi dumping and 0 bounce in bitcoin, I think we’ll head lower. I wouldn’t be surprised to see a new low, too. It would actually be pretty nice to see a bullish divergence on the daily, which means a lower low in price but a higher low in RSI. Around 16.5-17k would probably be a really good buy.
Beatings will continue until morale improves.
Nouriel Roubini, the famously anti-crypto economist, wrote an article about something other than stupid FUD about bitcoin.
https://www.project-syndicate.org/commentary/stagflationary-debt-crisis-by-nouriel-roubini-2022-06
He calls for stagflation, recession, pain, wringing of hands, gnashing of teeth, fire and brimstone, widespread misery, and for the Detroit Lions to win the NFC North. Just kidding about that last part, that’d be stupid.
Like I said yesterday, wait for the next CPI print before deploying your DCA…
it looks like if #2 is holding us up?
If.. when? it drops under 1k we are doomed..
As an aside, when the fuck did Nic Carter become an ETHtard?!
He was one of Bitcoin’s biggest advocates.
https://www.theblock.co/post/155069/ftx-walked-away-from-celsius-deal
​
Ta Da!!! … Oh… it’s gone!
Another step in EU regulating crypto transfers. So far on track to take effect in 2024.
> On Wednesday, E.U. negotiators signed a provisional agreement for the bloc’s first rules on tracing transfers of crypto assets like bitcoin…
> When a crypto asset changes hands, information on both the source and the beneficiary would have to be stored on both sides of the transfer, according to the new rules.
https://www.nbcnews.com/tech/crypto/crypto-tranfers-follow-bank-rules-new-eu-regulations-rcna36102
This is the one that has some preliminary clauses about ban on self-hosted crypto wallets because it would be impossible to check all this stuff for individuals.
Jacobi Asset Management to launch Europe’s first Bitcoin spot ETF on Euronext Amsterdam:
https://www.reuters.com/markets/europe/jacobi-asset-management-launch-europes-first-bitcoin-etf-euronext-2022-06-30/
There is an unlikely but plausible scenario where we go below 1k: If MicroStrategy’s liquidation price is hit around 3k and they get a margin call forcing them to liquidate their assets. I am gonna leave 5% of cash aside for that possibility.
I think there’s a good chance that this was it for now, relief rally to 26k wouldn’t surprise me.
This low volume brothers me.
https://bitcoinmagazine.com/business/samsung-to-design-3nm-chips-used-to-mine-bitcoin
Probably nothing.
Long from 19k.
Debating flipping to MSTR again though but it’s held up sadly.
Given the low-ish volume bounce at $19k, it seems the next psychological breakpoint we fall down to will be at $15k to draw in more “buy the dip” liquidity. Place your bets gentilemen!
Does this carry any weight?
https://finbold.com/bank-for-international-settlements-to-allow-banks-to-keep-1-of-reserves-in-bitcoin/
Contemplating on possible candidates for bottom of the cycle ASSUMING that 17.5K does not hold. It is still of course possible that 17.5K does hold and that was the local bottom of this cycle. But if not, I would be looking at these levels.
​
With everything happening with Celsius, 3AC and …, I thought I would share this Bible verse with everyone.
From Genesis 38:9
>And Onan knew that the seed should not be his; and it came to pass, when he went in unto his brother’s wife, that he spilled it on the ground, lest that he should give seed to his brother.https://www.biblegateway.com/passage/?search=Genesis%2038%3A9&version=KJV
In other words, not your seeds not your coins. Also, don’t go giving your brother’s wife your seed even if he asks for it.
IMO there will be absolutely no upward moves until clarity on the Celsius fiasco and 3 arrows shit resolves. Let’s be honest, Blockfi is probably in some shit too, just to a lesser extent. I don’t know when to expect all relevant details to be disclosed.
Celsius is on the cover of Wall Street Journal today as the biggest story. It’s being spun as a big last laugh from the banks, thanks for playing! Apparently Celsius touted itself as safer than banks… Really?? No way anyone actually thought that…
I presume Celsius is probably bleeding money to service debts they have, and they will go under soon as their cash flow is essentially 0 at this point, just a matter of time. A market upturn might help the situation for them or prolong the time they have to kick the can down the road, but my guess is smart money that can move the market knows this, and it’s time to kill them off.
Yeah it’s a shit show, and this is why we can’t have nice things