Member Info for red_rag_to_bull

This Luna/UST farce is a bad look for crypto in general and not a way to get new participants into the market. I pray that Argo Labs are not going anywhere near this kind of experiment. Way to blow your reputation Do Kwon. By the time i get up tomorrow, Luna could be in single figures and i still wouldn't go near it with a bargepole.

I think 40k is pushing it, but it might head up to 33.7 and test previous levels before rolling over again. Worry for me is Nasdaq wrapped up today at near session lows and VIX closed at near session highs. In other news, MSTR down 25% on the day.....and nobody can convince me that Saylor will not be getting concerned that he is going to get margin called. It's pretty grim out there....

@HarChris - yes, it did drop in the afternoon below 60 and I was getting quotes to buy at 58.5

On the flipside of my general worry, BTC v Nasdaq comparison in last 90 days shows that BTC is actually holding up better by comparison. BTC; -6.32% v Nasdaq QQQ; -12.42%
No way that would have happened two years go, so BTC not as 'risk-on' as it would seem.

That's quite a glib statement - you have hung around for a year to post that? Well, give yourself a pat on the back sir. See you for post 2 i guess.....

Two cents at general market conditions. I said yesterday that Nasdaq at 12k is an important level to watch and spent ages pouring over charts last night and doing some correlation work with VIX trends. Keep an eye on VIX as if that hits 40 and Nasdaq below 12k, we will see a big capitulation towards lower lows on Nasdaq. Some big cap tech is going to go bankrupt through this. BTC is going to do very well if it holds the 30k-40k range.
I've put my ARB shares in the locker until summer next year tbh

33k break is very possible and there's not a lot of support beneath that to head to 27k. Let's face it, correlation to IXIC is very close and if that breaks 12k, it can easily fall another 20% after that given the pain is only just starting. Don't get me wrong, i've a large stack in ARB, but this is not going to be pretty for a long time yet.

I'm invested, but i can only assume it is off-putting for some looking to get in.

Just announced a short time ago.....
The London Metal Exchange (LME) has now cancelled all nickel trades that took place today, as the price doubled to a record $100,000 per tonne.

It has acted after prices doubled in a matter of hours in a remarkable short squeeze which reportedly leaves a Chinese nickel tycoon facing heavy losses potentially running into billions of dollars.
Having already suspended nickel trading this morning, the LME has now decided to cancel today’s trades executed since 00:00 UK time, and defer delivery of all physically settled Nickel Contracts due for delivery tomorrow.

In a notice to members, the LME says “The current events are unprecedented”, and that it is tracking the impact of the Russia-Ukraine situation on the metals market.

Agreed - i'm actually surprised that it hasn't tested and broken local lows at 33k. It's a useful exercise in how impacted/resistant to macro and geopolitical events that BTC currently is.

Pretty high on the landing page/front page. https://www.theguardian.com/technology/2021/sep/17/waste-from-one-bitcoin-transaction-like-binning-two-iphones

Afternoon everyone! I was an LTH up until late May and really sorry to see what's going on here.
I hope that Anne lays some paving slabs down for either data that can be viewed positively by potential partners and some sort of positive conclusion with Oxilio.
All the best to those hanging in there - really hope that some positivity emerges in tangible form!

https://cointelegraph.com/news/bitcoin-mining-difficulty-drops-for-fourth-time-in-a-row

PS. Goodbye to lumphammer

Totally agree with this....
I don't bother posting here anymore as it's drowned out in digital litter. You've got to looks at the macros to understand what's going here. It's uncertainty in the macros that has driven BTC lower, but the recovery (which may have slowly started) is happening due to greater certainty in macro modelling. I am not foolish enough to predict what BTC/USD is going to do, but I really do believe that inflationary pressures are well underway and if we see the top end of what has been suggested, we could see ATH in BTC/USD around the turn of the year. Still too many moving parts at the moment to know how ARB is going to be at that point, given we will be getting closer to operational in TX. Hope all LTHs i've liaised with on here are well. See you in 6 months!

Hi all. I have sold out everything in NFX today at a loss. Despite averaging down over the last two years, I simply do not understand the company any longer and the reasons I originally invested have become very blurry in the current situation. Wish all the LTHs in here the best and hope it turns round for you.

Oh, forgot. Microstrategy Q1 Q&A is 10pm Thursday. Might be worth a listen i reckon.

Enormous battle between buy and sell between 54-55k in the last 6 hours and marked by the last month as key resistance line. As a few say on here....weeks and months, not days and hours.
Could be a very pleasing end to the three-day weekend. Lots of snooker on too. Which is nice!

Hello all.
Huge consolidation in BTC at mark price of around $54k. Sell offs are good for miners remember, and those with bleeding edge machines + known high margin.
Currently thinking - can I afford a place in Paris as well...?

I think you're looking at the wrong metrics tbh. No offence intended.
Although I don't approve the look, the guy knows what he's talking about in terms of questions and general natter about the metrics that matter: https://www.youtube.com/watch?v=TlCQvUD5cXw