[Belgrade Bobby]

USDJPY Monthly

This is NOT a Bitcoin, Nvidia or Gold…this is Yen (not Sparta definitely 😀

Mind you, all time High of Modern times is at 160.360

It is becoming kind of hilarious….a Small correction is like 1000 pips lower, and a decent one…well…how about 2.500 pips .

Trading it on anything bigger than half an hour chart takes some Cojones 😀

[SF Monedge]

Re TFT and others like it – Had a millennial friend who treated it like a video game.  Can’t trade but thinks he can, bitcoin will erase the US Dollar by end of 2030, little ears for professionals who have been around a while, won’t shut up about it.  Message to novices out there…this isn’t a game.  Use your head a bit better and it might turn out ok.

[SF Monedge]

That’s it for bitcoin at 72000, slippery slope ahead and you can bank on it.  Regulators and the split coming up in April.

[Mtl JP]

fun for some, not so much for some others
–
Bitcoin Drops After Flash Crash. Why Prices Could Keep Dropping.

as I have mentioned numerous times before … opinions are like ass-holes: everyone has one

[Belgrade Bobby]

OK, successfully counted the spread on Bitcoin – it is around 1.5% – in terms of EURUSD that would be 160 pips…full pips…no pipettes

[SF Monedge]

Read earlier that Claude Erb, a former commodities portfolio manager at TCW Group, plots bitcoin’s actual price over the past decade along with Erb’s application of Metcalfe’s Law with the result being a fair value of $35,000 for Bitcoin.

Side note, some ideas for orders I tried to post earlier but it would not post for some reason – buy side AudChf 5790 – Buy side AudCad 8900 – Sell side GbpChf 1260 – GbpUsd Buy side 2812 or lower – AudUsd buy side 6594 or lower – UsdJpy sell side 147.10 or higher –

[SF Monedge]

Knez does El Salvador Airlines take bitcoin? lol

[SF Monedge]

Frank – As long as the US Bank Index holds 3610 its all good.  Millennial crypto fanatics all over the net are hoping it means, and are sure it will, mean the end of the US Dollar and in April when Bitcoin halves they believe it will double in price almost immediately.  So they can tell mommy and daddy they are smarter than they were.  So, of course I got rid of all of my US Dollars and have zero cash and only bitcoins.  The problem is no one wants them when I want coffee.  What to do.

[GVI Forex 2]

BTC Daily Chart

When Bitcoin first was created I called it a Ponzi scheme. While I have not changed my mind about cryptos I would be an idiot to trade on that view given this rocket to the moon.

BTC rose about 4% to a new record high before backing off a touch but maintaining above the former record high (blue AT line).

By contrast, EURUSD has traded a 19 pip range so far today.

For the record, I do not trade BTC and have no intention of doing so.

[Frano Grgic]

BTC | Bitcoin Price Analysis Today 9.3.2024 | Bitcoin BTC Forecast #btcusd #bitcoin

[GVI Forex 2]

A look at the day ahead in European and global markets from Kevin Buckland

An underwhelming kick-off to China’s eagerly watched week-long annual parliament, the National People’s Congress, plus a weak Wall Street close overnight kept risk assets on the back foot on Tuesday, with the very notable exception of bitcoin.

Morning Bid: Risk rally on hold, bitcoin excepted

[SF Monedge]

GV – Reserve’s Bank Term Funding Program (BTFP) will sunset as planned on March 11, ending a program that helped calm the markets after last year’s collapses of Silicon Valley Bank and Signature Bank threatened a broader financial crisis.  Bitcoin is scheduled to “halve/split” in April.  The last time that transpired the not yet viable non-asset backed digital instrument doubled in price.  Investors should not look at BTC as an inflation hedge, but rather as a hedge against monetary debasement perhaps.  Personally, I am not jumping in at these levels in BTC.

[GVI Forex 2]

BTC MOnthly Chart

BTC (Bitcoin) relentless rise is now within spitting distance of its 68861 record high

THE SHARP MOVES UP IN GOLD AND BTC WHILE THE FOREX MARKET IS ON THE SIDELINES IS NOT A VOTE FOR FIAT CURRENCIES.

With that said, it is hard to suggest trading BTC from here as there should be no interest in standing in front of the BulletTrain but now dependent on the record high being taken out to move even higher.

[GVI Forex 2]

A look at the day ahead in European and global markets from Kevin Buckland

European investors are due for a super-sized helping of inflation data, with a side of bitcoin, on a day when Asian equities offered few trading cues and currencies were stable – with the notable exception of the Japanese yen.

Morning Bid: Inflation in focus, bitcoin buoyant

[GVI Forex 2]

FOMO being attributed to Bitcoin’s relentless risetgst topped $60,000 today)

FOMO = Fear Of Missing Out

[GVI Forex 2]

BTC Daily Chart

Bitcoin continues to make its relentless move higher, leaving the record 68915 level as the only one left on the upside.

To be clear, I do not trade cryptos but it is hard to ignore its meteoric rise this year, up over 12% in 2 days and around +35% this year. Imagine if one of the major currencies had moves like this?

So, I will just post the chart and follow up with a monthly chart.

[GVI Forex 2]

BITCOIN (BTC) MONTHLY CHART

I don’t trade BTC but it is hard to ignore a chart that shows the all-time 68915 high as the last key level on this monthly chart.

BTC up over 2000 pips today (4+%)

To keep the very strong bid, BTC needs to trade above 48136-50000