I don't think it's you... I'm noticing violent crypto pfolio valuation swings, 6 digit in 24-48 hour periods (7 crypto digital assets) and unfortunately for me, it's leaning more on the downside direction. A big part of it is that my biggest position, Celisus has been a laggard only bouncing minimally when bitcoin bounces. Curse of the public ledger (blockchain), everyone can see that the wife of the main founder sold half of her Cel coin holdings, and the main founder put half of his 100M coins on a Uniswap liquidity pool eth/cel pair, which can be argued is to help with liquidity, and it does, anyone can buy or sell in size on Uniswap with hardly any price impact or slippage, but the other side of that argument is that when you put your coins in an LP, it's a way to accumulate the other coins, Eth, in this case, by allowing your cel tokens to be traded for it. Anyway, all good, Celsius business metrics is still growing like crazy, AUM, DAU, and overall number of users, so much so that support has been pretty sucky lately according to many complaint posts on reddit. I'm not selling, still a long term hodl position Back to bitcoin, we're getting some negative news lately, but so far, bitcoin catching some bids when it goes down fast, so good bounces for now...
Most all of the complaints you see online regarding Celsius are about their shitty customer service - time to respond to a support ticket. The price of CEL itself is never going straight up, it is going to have oscillations like all other coins. From the few people that I have spoken with recently, they opened accounts at BlockFi, Nexo and Celsius mainly to earn yield/interest on stable coins and their BTC holdings. Only a small sample, but they are only putting 10% to 20% in the networks native token trying to earn extra interest.
Very good points, They. There's another player in this space I recently discovered, Voyager VXG which is also listed on the stock market VYGVF. Unfortunately, the crypto digital token has gone up 1000% in the last 30 days and the stock has gone up over 800% in the last 2 months I took a position on the crypto token VGX at $1.15, it's chasing, but can't do anything I didn't get in sooner. This space is the killer app for crypto digital assets! Deposit/Borrown, basically a bank account for cryptos. Some people are using the cryptos as a savings investment account. If you use PayPal to do this on bitcoin or GBTC, you don't get yields (passive income) on your cryptos asset, but if you do it on BlockFi, Celsius, Nexo, and now VXG, you're getting the full benefits of a digital asset investment, very cool! And a lot of platforms you can use to borrow fiat so you get to use it as a collateral asset, like your house, borrow against the asset without selling the asset VXG is an interesting play with Coinbase going IPO, Voyager VXG is already listed on the stock market (otc in the US, listed on the TSX), as it's competing with Coinbase in the US where you get the benefits of your order (crypto buys) routed to the best exchange for best price and you won't have problems when there's a high demand in cryptos where Coinbase has issues and sometimes goes down Hope that wasn't too much shilling for the coin, lol. Everyone has to do their own DD, anyway, no financial advice on this post. https://www.investvoyager.com/
Apparently Tether has stopped printing since the 15th of January which was the deadline to submit documentation to the NYAG. @johnarb just FUD or do you think this is a legitimate reason for concern? I mean if there is no Tethers, then there is no demand and if the buyers don't show, the sellers will. Any time i trade a narrative or think about some fundamental thing i always lose money though so i will just stick to my strategy anyways. But could this be a catalyst? If it is, 38K-39K might be a very nice price to sell at.
BTC price went parabolic, so I'd said 25k is likely a correction target after which a resumption of bull trend.
*** No financial advice below *** I think Bitcoin is doing well and is on a temporary pause but in the next 3 months bitcoin should be above $50K and within 6 months bitcoin should be above $100K TL;DR below: I don't quite agree with the premise of your post, but it's more of a fundamentals difference in viewpoint. I'm a long term hodler, and it's easy to say I'm biased, but I've posted several lengthy opinion explaining that bitcoin and cryptos are currently in a bull market cycle. We waited 3 years for this! We're still in the beginning phase, whether you believe it or not, that is my opinion. Tether is an important fiat onramp for wealthy investors and institutions especially outside of the US, but that is what it is, an onramp. The money is coming from investors, billions of $ worth GBTC keeps growing like crazy!!! Are you not seeing the news??? They recently announced they had recorded a daily intake of investment. They more than doubled their bitcoin holdings in a very short time. There's no redemption option, those bitcoins are never going back to the market. Guggenheim, PayPal, Square, Microstratgy, Stone Ride, Paul Tudor Jones, Stanley Druckenmiller, Fidelity, JP Morgan, Goldman Scahs, etc, etc, etc MassMutual And you think the price of bitcoin is because of Tether issuance with no money backing it????? I don't know the thoughts of yours and others, but that's what makes a market, a disagreement on our analyses. No offense intended in the post.
People who don't believe in bitcoin and cryptos as digital assets, will not invest in this space (unless they change their minds in the future or bitcoin and cryptos fail completely and their skepticism is proven to be correct) and that is ok as there is incredible demand from others There's overwhelming demand from retail and institutions. I included 2 videos below started at a point to save time and be straight to the point. Watch a few minutes of each video and if you can still seriously say that bitcoin only goes up due to Tether printing with no backing, then I really don't know what else to say. These videos are GBTC and PayPal, but what's interesting is that PayPal, just like Square, I don't believe makes too much profits from having bitcoin on their platform, they benefit by having active users ("engagement") as cryptos investors are obsessed with their bitcoin investment. Google and Apple and Samsung (Pay) are watching Square and PayPal, don't you think they want that kind of "active engagement" on their payment platforms? If we get that news announcement one of these days, what would be the effect on the bitcoin price? Facebook, the king of user manipulation engagement with their "click likes" addictive platform, already are trying to get into the digital currency. Who's next? Microstrategy is hodling a lot of bitcoin, over $1B worth. There's a lot of comms going on with Tesla Elon Musk to put some of their treasury reserves into bitcoin, who knows if Elon is just trolling the bitcoin community, but hey if one of these major tech companies (i.e. Apple, Google, Amazon) follow MSTR's example, imagine the news and the effect on bitcoin price. None of the things I mentioned may come to fruition and that's ok. What's going on now is that Guggenheim, Stone Ridge, JP Morgan, Fidelity, PTJ, Druckenmiller, Goldman Sachs, MassMutual are getting in to bitcoin and that's real adoption. https://finance.yahoo.com/news/paypals-pypl-solid-crypto-momentum-173005108.html This is evident from its cryptocurrency sales volume, which is sky-rocketing for the past two weeks. Reportedly, the company’s daily cryptocurrency transaction volume hit a record-high mark of $242 million. Bonus eToro demand metrics below: https://www.forexcrunch.com/etoro-c...for-bitcoin-and-other-cryptocurrencies-soars/
Apparently there's been a double spent on Bitcoin network. Just like that, fundamentals turn to trash. Tether printer has stopped too. Charts look like shit. Good news while going down(blackrock to allow investments in btc). 20k$ Bitcoin soon.