Bitcoin

[Folster]

By the way, if you haven't seen it, BITI is a recently launched ETF that shorts bitcoin through reverse futures contracts. So if you're pretty confident BTC is going to continue to slide into oblivion, BITI is an attractive play. And the most you can lose is 100% of your investment.

Edit: Oops, didn't see that Devilmaycare let us know about this a month ago. Never mind.

It's blocked by my broker.

 

[dscher]

It's blocked by my broker.

Of course they did..

That just means one thing. It's crashing at some point for sure. Lol

PS. Thanks for the contrarian info. If it's the broker I believe it is.. that's a HUGE signal. I know when a certain broker blocked GBTC before it's huge run up. So it's good info to pay attention to.

 

[elindholm]

It's blocked by my broker.

Wow, that sucks! Who do you have? I just set up a purchase of 1 share through E*Trade and got all the way to the confirmation screen, so it looks like I can do it. I did have to click through a disclaimer about understanding the risks of options trading.

 

[Folster]

Wow, that sucks! Who do you have? I just set up a purchase of 1 share through E*Trade and got all the way to the confirmation screen, so it looks like I can do it. I did have to click through a disclaimer about understanding the risks of options trading.

My firm is more conservative than a lot of other discount brokers. We've blocked a lot of bitcoin stuff.

 

[Folster]

Of course they did..

That just means one thing. It's crashing at some point for sure. Lol

PS. Thanks for the contrarian info. If it's the broker I believe it is.. that's a HUGE signal. I know when a certain broker blocked GBTC before it's huge run up. So it's good info to pay attention to.

I wouldn't read too much into it. We block a ton of stuff to protect clients.

 

[dscher]

I wouldn't read too much into it. We block a ton of stuff to protect clients.

I get it. But, I wouldn't dismiss it either. I believe both things can be true.

Also, I don't think it's the responsibility of a bank to protect people from their choices. It's their money, they can lose it or win with it on their own volition. But, that's JMO.

 

[Folster]

I get it. But, I wouldn't dismiss it either. I believe both things can be true.

Also, I don't think it's the responsibility of a bank to protect people from their choices. It's their money, they can lose it or win with it on their own volition. But, that's JMO.

FINRA cracked down a while back on low priced and volatile securities. Firms still have a suitability standard. You see the same thing with options. We won't let just any client trade options. They have to get approved for certain risk levels based on experience and net worth. We'll revoke options if you suck too.

We blocked a bunch of marijuana stuff during that hype train, same with crypto. We also block a lot of commodities related ETFs because investors don't understand futures contracts and many of those markets are typically in contango and experience negative roll yield. You can't buy USO.

 

[Folster]

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[dscher]

Calling my shot. Next target. BTC 6k. Over weeks to coming months...

 

[Folster]

Calling my shot. Next target. BTC 6k. Over weeks to coming months...

Hunch or do you have anything to support your call?

That'll be the flush I'm waiting for. I assume we'd see other speculative assets crash as well as the market as a whole taking a pretty significant hair cut.

 

[dscher]

There's nothing to value bitcoin so all you have is charts and they look bad.

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Actually your chart trend line is pretty solid.

My chart has a few more little breakdowns. But measured moves from current levels show right into that support level.

 

[Folster]

Oh boy!

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[BigRedRage]

Oh boy!

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Better start building some mega solar farms or nuclear power plants

 

[dscher]

Calling my shot. Next target. BTC 6k. Over weeks to coming months...

Bump.

Strangely. It's looking like BTC bottom will mark 'A' bottom in the markets. This level is setting up to be similar for the equity markets. Especially technology. 70 percent Bitcoin crash will mark about a 40-50 percent crash for the overall market...which is dominated by tech.

 

[Folster]

I think memes are still allowed here right?

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[Devilmaycare]

I think memes are still allowed here right?

Yes, it's only P&R that they're not allowed.

 

[puckhead]

I think memes are still allowed here right?

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Memes here are fine as far as I know, but we would appreciate users putting NSFW language in spoiler tags.

And, the meme is hilarious.

 

[dscher]

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[dscher]

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[dscher]

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[dscher]

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[dreamcastrocks]

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No wonder why they are getting divorced...

 

[dscher]

No wonder why they are getting divorced...

It's either that or the divorce created a liquidity event for FTX. I'm sure we will never know the deets, but there was some speculation on Twitter that made a lot of sense.

 

[dscher]

How fitting would it be that the GOAT took down the entire crypto space? Is there anything this guy can't do?!

 

[dscher]

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