Bitcoin Price Tracking & Discussion -- 2020

[Bsims]

I set up an auto weekly transfer from bank and auto buy at the exchange a couple of weeks back. So hoping it stays low until at least end of this year whilst I build up a holding personally.

Using the "dollar cost averaging" technique is something I always recommend to newbie stock market investors. It is an excellent choice for bitcoin investing also
.

[Sam Odom]

$7,795.77

[astrobloke]

Michael Novogratz's Bitcoin stuff is good

Also the "chatterbot newsletter" google that. Private newsletter and verygood. They using blockchain to forecast future events, and coins, as 90% of the coins on the blockchain are scams, but not BTC. quite accurate, and fun to be part of.

[ace7550]

Michael Novogratz's Bitcoin stuff is good

Also the "chatterbot newsletter" google that. Private newsletter and verygood. They using blockchain to forecast future events, and coins, as 90% of the coins on the blockchain are scams, but not BTC. quite accurate, and fun to be part of.

Cool, I'll check out chatterbot.

[Optional]

Using the "dollar cost averaging" technique is something I always recommend to newbie stock market investors. It is an excellent choice for bitcoin investing also.

It's been 5 weeks so far and I am 7.5% up.

FOMO is starting to develop though and wondering if I should drop a chunk in all at once right now... Personally I feel quite confident it will enjoy a nice jump as general market confidence improves.

[JAKEPEAVY21]

It's been 5 weeks so far and I am 7.5% up.

FOMO is starting to develop though and wondering if I should drop a chunk in all at once right now... Personally I feel quite confident it will enjoy a nice jump as general market confidence improves.

Also, the halvening is approaching less than 2 weeks away...

https://coinmarketcap.com/halving/bitcoin/

[Optional]

Also, the halvening is approaching less than 2 weeks away...

https://coinmarketcap.com/halving/bitcoin/

So maybe just stick to what I am doing until that is over?

Or are you saying, go for it beforehand?

[JAKEPEAVY21]

So maybe just stick to what I am doing until that is over?

Or are you saying, go for it beforehand?

Hard to say but there is speculation the price could rise leading up to it.

[zam77]

Hard to say but there is speculation the price could rise leading up to it.

Going to buy a little more. Seems like an opportunity but who knows

[ace7550]

From the perspective of someone who mines BTC, I can tell you that if the price doesn't go up significantly in the next couple weeks a large portion of the BTC mining community will need to shutdown their machines when it halves. That, coupled with lots of stimulus money and states starting to end lock downs, seems to be a sign of good things to come.

[Optional]

From the perspective of someone who mines BTC, I can tell you that if the price doesn't go up significantly in the next couple weeks a large portion of the BTC mining community will need to shutdown their machines when it halves. That, coupled with lots of stimulus money and states starting to end lock downs, seems to be a sign of good things to come.

Is there a reason the price might go up? Apart from it needing to to keep the mining pool paid?

Not that I really care what will happen next week, or next month.

Think I plan to be what they call a hodler and just hope that the small amount I buy/save weekly for the next couple of years is worth maybe 50% more than it costs me over that time. And hopefully no worse than 50% less. I'll take 5x as well of course

[Arky]

I'm leery of one more big dip either right before or right after the halving. I've got fiat/cash waiting in the wings. After that, no more big dips until the next bear market....
Zoomed out and long term, I am bullish....

[Bsims]

It's been 5 weeks so far and I am 7.5% up.

FOMO is starting to develop though and wondering if I should drop a chunk in all at once right now... Personally I feel quite confident it will enjoy a nice jump as general market confidence improves.

FOMO is a disease that I also suffer from. It's caused me to make bad decisions in the past. I periodically think I have a perfectly logical reason for bitcoin to go up or down and act accordingly (halving, etc.). Somehow I manage to be wrong more than half the time. I'm not sure that's actually possible, but it seems like it.

Optional, if I was young and still working and earning money, I'd do precisely what you are doing. This reminds of another story. Back in 1962 when I was a freshman in college I took a mathematics book out of the library that dealt with statistics. There was a chapter dealing with analyzing the stock market. The conclusion was that tracking the ups and downs of the market was equivalent to plotting the steps of a severely drunken man. No step's direction could be predicted from the previous steps. But the overall direction could be determined (upward in the stock market, bitcoin who knows).

Now in my case, I'm old, retired, and don't have a regular source of disposable income. Basically I've put as much money into cryptocurrencies as I'm going to. My challenge is to make it grow quickly. I'm trying to do so by actively trading. Since I can't outguess the direction, I'm working with technical price analysis (specifically Bollinger Bands) to make the trading decisions for me. It probably won't work, but it's fun.

Someone reading this post (and others I've posted in another thread on "Wisdom of the Crowd") might draw the following conclusion. Bsims is old, appears to be fairly bright, well educated, and has lots of experiences. But doesn't seem to have learned a damn thing. And they would be right.

[BeatTheJerk]

FOMO is a disease that I also suffer from. It's caused me to make bad decisions in the past. I periodically think I have a perfectly logical reason for bitcoin to go up or down and act accordingly (halving, etc.). Somehow I manage to be wrong more than half the time. I'm not sure that's actually possible, but it seems like it.

Optional, if I was young and still working and earning money, I'd do precisely what you are doing. This reminds of another story. Back in 1962 when I was a freshman in college I took a mathematics book out of the library that dealt with statistics. There was a chapter dealing with analyzing the stock market. The conclusion was that tracking the ups and downs of the market was equivalent to plotting the steps of a severely drunken man. No step's direction could be predicted from the previous steps. But the overall direction could be determined (upward in the stock market, bitcoin who knows).

Now in my case, I'm old, retired, and don't have a regular source of disposable income. Basically I've put as much money into cryptocurrencies as I'm going to. My challenge is to make it grow quickly. I'm trying to do so by actively trading. Since I can't outguess the direction, I'm working with technical price analysis (specifically Bollinger Bands) to make the trading decisions for me. It probably won't work, but it's fun.

Someone reading this post (and others I've posted in another thread on "Wisdom of the Crowd") might draw the following conclusion. Bsims is old, appears to be fairly bright, well educated, and has lots of experiences. But doesn't seem to have learned a damn thing. And they would be right.

This poster might be the most likable/humble/smart combination of a human being here at SBR, real talk.

[ace7550]

Is there a reason the price might go up? Apart from it needing to to keep the mining pool paid?

Not that I really care what will happen next week, or next month.

Think I plan to be what they call a hodler and just hope that the small amount I buy/save weekly for the next couple of years is worth maybe 50% more than it costs me over that time. And hopefully no worse than 50% less. I'll take 5x as well of course

The halving will cut the daily fresh supply of bitcoin in half. Typically when the supply of something gets cut drastically, but the demand stays the same, the price should go up. Theoretically that is...
People who hodl BTC always seem to make money. I think your strategy is a good one

[raiders72001]

The halving will cut the daily fresh supply of bitcoin in half. Typically when the supply of something gets cut drastically, but the demand stays the same, the price should go up. Theoretically that is...
People who hodl BTC always seem to make money. I think your strategy is a good one

I'm definitely hoping this happens. Bitcoin looked like it was going on a tear until coronavirus. Let's hope we get another bull run.

[galt88]

I predict the BTC price will be over 15k until December.

[Sam Odom]

$8,439.45

[JAKEPEAVY21]

$8662

up 11.34% the past 24 hours

[Sam Odom]

[asiagambler]

Wasn't it sub 4k a little over a month ago?

What an amazing Ponzi

[JAKEPEAVY21]

$9,211.36

[TheMetsSuck]

Just bought a bunch. I have faith

[mrpapageorgio]

If you have bitcoin in a wallet, good luck moving it without paying a high fee right now. 117k+ transactions waiting in the mempool as of this post.

[chico2663]

.0015 on coinbase

[Optional]

$9,211.36

Ok, now I am regretting not giving in to the FOMO!!!

I hardly ever talk about crypto as an investment or for trading, but the last two posts I have made in this thread asking if it was time to drop some in, the price jumped less than a week later :\

[JAKEPEAVY21]

Ok, now I am regretting not giving in to the FOMO!!!

I hardly ever talk about crypto as an investment or for trading, but the last two posts I have made in this thread asking if it was time to drop some in, the price jumped less than a week later :\

sounds like you should trust your gut instinct mate

[Optional]

sounds like you should trust your gut instinct mate

I'm not in a hurry. It's money I would be trying to save as cash anyway. Only need better than bank account interest for it to be a win. So will just stick with the plan.

[BeatTheJerk]

If you have bitcoin in a wallet, good luck moving it without paying a high fee right now. 117k+ transactions waiting in the mempool as of this post.

It’s more like a cesspool.

[deadphish]

so stoked i held firm on my BTC stash!!! i was sweating bullets when it dropped to the 4k range. i had a feelin once China was less Covid, it would bounce back

[ChuckyTheGoat]

The Million $$ question:

*Is the halvening (sp??) a significant event?

There's really not a lot of historical data to go on. Does it repeat? Bitcoin is so unique.

If u study it...the mining is going to go on for > 100yrs. But the % produced (all-time) is already approaching 96%. Who knows?

[mrpapageorgio]

The Million $$ question:

*Is the halvening (sp??) a significant event?

There's really not a lot of historical data to go on. Does it repeat? Bitcoin is so unique.

If u study it...the mining is going to go on for > 100yrs. But the % produced (all-time) is already approaching 96%. Who knows?

One of two things is going to happen imo. Either the price of the coin is going to go up or the price to send bitcoin is going to go up. The miners are going to want to makeup the revenue one way or another.

[StackinGreen]

My best guess is that most of the halving is priced in, people will either be disappointed it doesn't move a ton come May 12, or the whales will sell to shake out weak hands. Either way, I'll welcome any price at a nice discount from these levels. I find 6k and below a steal.

[Sam Odom]

$8,903.75

[BeatTheJerk]

...