Bitcoin

Ron Resnick said:

BTC broke above US$50,000!

Assets are almost magnetically attracted to round price numbers like this.

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100k is a round figure

I just love watching it go up and down. It's great fun as you stare at your gains in disbelief.

It's also cool when it falls watching for buying opportunities.

I reckon you have to be an absolute lemon not to spot basic trends and make a loss.

Seriously thinking about doing a bit of trading. Far more dangerous

BTW don't listen to me. I was down for two years That said when you're down you simply wait until you are not.

bonzo75 said:

100k is a round figure

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Surely 200K is rounder.

Ron Resnick said:

Dear RogerD,

Thank you for your replies but I do not understand the technical analysis jargon you are talking about.

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it's simple Fibonacci sequence math - very very common

i'd like to hear the thinking behind 200k btc (and please don't use gold market value)

Ron Resnick said:

Dear RogerD,

Thank you for your replies but I do not understand the technical analysis jargon you are talking about.

Click to expand...

I wouldn't loose any sleep over this. BTC is very good at telegraphing it's tops and bottoms.....the trend exhausts itself when it turns.

To me it looks like we are close to a major trend change. Maybe days away... Watch Japan
Japan completed a cycle B wave top in February. The wave V top occurred at the Covid top in February 2020 in the Dow
From the Covid low was a primary wave A. From that low the Dow has been in a irregular primary B wave and should top by Wednesday.
The cycle C wave lower should follow Japan's cycle C wave. I don't know the magnitude of the wave down...the breath of the negative psychology
will be the determining factor.
If we do not top in the coming days,then all markets could blow off....

BTC might still reach a 62 pct retrace

Has it topped? An observation: I walked into Sam's club yesterday and steaks were marked at $14 a lb. A month ago they were $8
You can't have funny money Socialism....funny money Capitalism is bad enough. You run the risk of a UST bond market disaster.
It takes months to turn a bull market positive mass psychology....but once it turns,it usually turns on a dime.

Looks like the first week or 12 days in September for a top.... that would fit a down October starting to a cycle low

WSJ Updated Sept. 2, 2021 7:55 am ET by Paul Vigna

Why Bitcoin’s Price Got Stuck at $50,000
Investor interest in other corners of the crypto market—including Ethereum and NFTs—has contributed to the lull. Bitcoin’s price stalled right at $50,000 during its August rally. On Wednesday, the cryptocurrency settled at $48,279.42, before briefly crossing $50,000 on Thursday. Bitcoin is renowned for its volatility. It more than doubled from January through midApril, falling about 52% in the next three months and bouncing about 65% from July to August.

So what is keeping bitcoin treading water now? For one, investors are moving to other corners of the crypto market. Ethereum funds had inflows of $22.4 million in August, according to CoinShares. And funds focused on Cardano —a blockchain platform similar to Ethereum—had inflows of $18.7 million. On Wednesday, Ethereum rose 10% to $3,730, its highest level since May 15. It has quintupled so far this year. Nonfungible tokens spiked in the spring, and are surging now, drawing money away from bitcoin. NFTs are digital assets similar to bitcoin, with the difference that each is unique. On OpenSea, the biggest exchange for NFTs, trading volume has been $3.5 billion over the past 30 days, according to data from research site DappRadar. Before August, it had a total of about $1 billion in trading volume since its founding in 2016. Also, recently, two blue-chip U.S. companies— Visa Inc. and Facebook Inc. —both took a step into the NFT market. Visa purchased a “CryptoPunks” NFT, and Facebook said it is considering building services for NFTs in its forthcoming digital wallet service.

That is the kind of big-name news that used to drive bitcoin, and it might need to recapture those kinds of headlines to rebuild its momentum. Bitcoin’s August’s rally didn’t attract many new buyers. The cryptocurrency’s funds had outflows of $61 million in August, according to data from asset manager CoinShares, and outflows in 14 of the past 16 weeks. In a note, Bret Oliver, an analyst at Momentum Structural Analysis, wrote that bitcoin’s trading pattern since its April high resembles what happened after the 2017 peak. In 2017, the price reached about $20,000, fell sharply over the next three months, and then spent more than a year in an extended downturn before the next rally started. This downturn doesn’t necessarily have to last as long as the last one, he said, but he expects the market will be stuck in a range after this year’s selloff before building a new base. That means even if the July low holds, the recovery will be a drawn-out process, Mr. Oliver said.

The term smart contract really just means code associated with a blockchain. It's not necessarily bound to anything in common law. In Ethereum that code is written in a language called Solidity.

So I think the term smart contract is misleading.

From Wiki:

"The US National Institute of Standards and Technology describes a "smart contract" as a "collection of code and data (sometimes referred to as functions and state) that is deployed using cryptographically signed transactions on the blockchain network".

Meanwhile Solana is doing brilliantly - much better than BTC. As are many coins.

And Cardano is number 3 without being a working product. You have to ask yourself what the hell is it doing there. Can it possibly live up to the hype?

Alt coins always do better, problem is they retrace many times more during the fall

You just need to learn to sell them quicker.