$BTC views
Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.
My $BTC short-term view after long deliberation and some flip flopping is rangebound in 30K-40K until the curve and vols come off a further. Then, 50K. I wouldn't be surprised if 30K is briefly breached but the risk is to the upside. Those calling for 20K missing the big picture.
— Alex (@classicmacro) January 12, 2021
Simple.
I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.
Nowhere.
I don't use limits for that. $BTC is liquid enough to trade at market without issues.
I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.
The Fed is the key. The next FOMC is Jan/29.
I'm fully expecting the large stream of positive headlines to resurface (e.g. Paypal treasury).
Real money wants in, and it will get in.
Corporates want in as well, inspired by Microstrategy. And retail is pouring in.
More from Bitcoin
The #Bitcoin fundamentals of four generations of inflation, entitlements, and regulations are separate and apart from #Bitcoin the technological innovation. If we had sound money there would be little demand for Bitcoin. (1/13)
The notion that gold futures hold down the physical gold price or subjects the gold price to long-term manipulation is a canard. CME gold futures deliveries are settled with warrants meeting exact specifications met by approved refineries, carriers, and warehouses which (2/13)
ensures the integrity of delivery apart from the exchange. https://t.co/CpV1OBSsAT One need look no further than the 1980 Hunt Silver fiasco which illustrates how deliverable futures contracts provide for the discovery of an untapped silver supply resting in people's homes.(3/13)
Not so for Bitcoin. The CME Bakkt Bitcoin contract is for Bakkt Bitcoin. It is not Bitcoin. Bakkt Bitcoin is a cash-settled monthly futures contract. While the Bakkt Bitcoin has geographically storage of private keys, they are not your private keys. (4/13)
Not your keys, not your bitcoin. The Bitcoin Warehouse is an internal ledger The internal ledger operates separate and apart from the Bitcoin blockchain. The only interaction with the public blockchain is during the deposit of bitcoin into the Bakkt Warehouse and the (5/13)
@woonomic @realmaxkeiser @stacyherbert @ToneVaysBTC @UglyOldGoat1
— Abolition (@kalsangdolmanz) January 22, 2021
What do you guys think? https://t.co/mF1z9QL1My
The notion that gold futures hold down the physical gold price or subjects the gold price to long-term manipulation is a canard. CME gold futures deliveries are settled with warrants meeting exact specifications met by approved refineries, carriers, and warehouses which (2/13)
ensures the integrity of delivery apart from the exchange. https://t.co/CpV1OBSsAT One need look no further than the 1980 Hunt Silver fiasco which illustrates how deliverable futures contracts provide for the discovery of an untapped silver supply resting in people's homes.(3/13)
Not so for Bitcoin. The CME Bakkt Bitcoin contract is for Bakkt Bitcoin. It is not Bitcoin. Bakkt Bitcoin is a cash-settled monthly futures contract. While the Bakkt Bitcoin has geographically storage of private keys, they are not your private keys. (4/13)
Not your keys, not your bitcoin. The Bitcoin Warehouse is an internal ledger The internal ledger operates separate and apart from the Bitcoin blockchain. The only interaction with the public blockchain is during the deposit of bitcoin into the Bakkt Warehouse and the (5/13)
Another #FreeLoveFriday. So far, I’ve covered Bitcoin, Mastercoin/Omni, and last week ChainLink and the importance of decentralized oracles. Today, let’s talk about one of the most fascinating projects in crypto - @MakerDAO
In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:
The counterparty risk of a third-party holding fiat in reserves.
Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.
In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.
The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.
Back with another #FreeLoveFriday. Last time, we covered how Mastercoin/@Omni_Layer pioneered digital asset issuance on blockchains. Today, let\u2019s discuss @Chainlink and the vital role it plays in connecting blockchains to the real world. https://t.co/0poYIBtGrt
— Emin G\xfcn Sirer (@el33th4xor) January 22, 2021
In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:
The counterparty risk of a third-party holding fiat in reserves.
Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.
In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.
The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.
