Bitcoin Analysis

bigbax699

Recruit
Messages
35
Well Bitcoin yet again surpasses to an all time high today. It's peaked so far at 44.9K. Will that be the new ATH or will we reach 50k? Currently 10K pips in profit on the entry zone i marked out previously. That's why its good day trading and being able to change bias from shorts to buys in an instance. Keep holding for now and keep moving SL into more profits, just to secure the bag for when we see our next drop. GLIYF
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RahmanSL

Major
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2,701
Tesla has invested US$1.5b in Bitcoin (meaning their clients can purchase Tesla products with Bitcoins),

MicroStrategy, a prominent business analytics platform, has adopted Bitcoin as its primary reserve asset with 71,079 BTC in reserve, equivalent to over $3 billion,

Crypto-focused merchant bank Galaxy Digital Holdings holds 16,402 BTC, worth just over $770 million,

Grayscale Investments has by far the largest Bitcoin portfolio of any institutional investment platform, with over $30 billion in BTC. It also runs the Grayscale Digital Large Cap Fund with Bitcoin amounts to some 7,036 BTC, currently worth over $330 million.


CoinShares Group, one of the earliest pioneers in digital asset investments, as of February 2021, has 69,730 BTC currently worth just over $3.2 billion.

London-based asset manager Ruffer Investment Company, its 45,000 BTC in December 2020, allocated 2.5% of its Multi-Strategies Fund to Bitcoin worth around $870 million at the time of purchase, is now worth over $2 billion.

Canadian crypto-asset portfolio manager 3iQ holds 22,590 BTC, worth just over $1 billion

The world's first centrally cleared Bitcoin exchange-traded product (ETP), ETC Group's Bitcoin ETF, BTCE, is physically backed by Bitcoin stored with California-based BitGo Trust, and currently holds 12,840 BTC, worth just over $600 million at today's prices.

10 Crypto Index Fund is the first publicly traded crypto index fund in the US is managing 11,430 BTC, worth around $536 million.

And more big companies, investment funds, and even USA State government are thinking of jumping on the bandwagon.

Does that make Bitcoin too big to fail? Interesting question!
 

bigbax699

Recruit
Messages
35
Checking back in on our Bitcoin trade today and as we can see we have had a lovely run of late. Price today touched 49.7K and we are currently sitting on 14.2k pips profit on this position so I am going to call the closure of the trade here. Always nice to bank as much profits as possible. But also could be a possibility we could see price turn here from the 50K threshold. You could even just close half of your position and just let the rest run as it would be no surprise if BTC just pushed right past this zone, keep moving SL more into profit the higher it moves. Will update in a couple of days on my idea for the next trade. GLIYF
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bigbax699

Recruit
Messages
35
Wow would you take a look at Bitcoin , currently trading at over 51K. Our last position hit TP and now it looks certain the new institutional money is here to stay with BTC . How can we trade it? Well I certainly don't like to just jump in and buy. We could try selling but who is to know where the top could be for now. We recently took out the small supply zone created easily enough. So i'm looking at a couple of demand area's that haven't been tested yet. 42-39K could possibly be an area where we could see to buy in. My preferred option would be between 32-28K. Keep watching for the moment no need to jump in. GLIYF
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bigbax699

Recruit
Messages
35
It was only Thursday night when i last had a look at Bitcoin , and i just happened to check it again and had to post. Lol yet once again we have a new ATH . Price was only in 51k in the last post, now its over 57K. The moves are crazy, I really hope some of you are holding longs. There's a little demand area between 46-43k that look ripe for a long when we get a pullback i missed last time. Let me know your thoughts for longs below
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RahmanSL

Major
Messages
2,701
Yup....seems like Bitcoin is on a bull run.
Question is, how many Retail Traders here are willing to buy in at present level for the "expected" run to the US$100k level as touted by many "expert Analyst"?
I won't!
 
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