Bitcoin Price Thread

semperfrosty · Oct 25, 2024

orbit23 said:
"OTC sellers are running out of coins"

"FTX repayments are coming"

"Trump about to create a national US BTC reserves"

... BUT I AM SURE THIS TIME IS DIFFERENT!
More...

Microsoft says Hi.

orbit23 · Oct 25, 2024

They've made a statue for the #1 ponzi schemer!

Amazing. Can't wait for Trump to get into office.

People think Trump is good for the space, but first thing he will do is go after the criminals. And if you take crime out of crypto, what are you left with? Not much.

SunTrader · Oct 25, 2024

orbit23 · Oct 25, 2024

It's been fun. See you at $30K.

Amazing how much time you still have to cash out before it all collapses. Grab this opportunity with BOTH HANDS.

https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether

ph1l · Oct 25, 2024

orbit23 said:
It's been fun. See you at $30K.

Amazing how much time you still have to cash out before it all collapses. Grab this opportunity with BOTH HANDS.

https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether
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That link has the end missing.
https://www.wsj.com/finance/currenc...ors-probe-cryptocurrency-firm-tether-a13804e5

Federal Investigators Probe Cryptocurrency Firm Tether
Authorities looking at possible violations of anti-money-laundering and sanctions rules
By Angus Berwick, Vivian Salama and Ben Foldy
Updated Oct. 25, 2024 2:06 pm ET

The federal government is investigating cryptocurrency company Tether for possible violations of sanctions and anti-money-laundering rules, according to people familiar with the matter.

The criminal investigation, run by prosecutors at the Manhattan U.S. attorney’s office, is looking at whether the cryptocurrency has been used by third parties to fund illegal activities such as the drug trade, terrorism and hacking—or launder the proceeds generated by them.

The Treasury Department, meanwhile, has been considering sanctioning Tether because of its cryptocurrency’s widespread use by individuals and groups sanctioned by the U.S., including the terrorist group Hamas and Russian arms dealers. Sanctions against Tether would generally prohibit Americans from doing business with the company.

Tether and its cryptocurrency, also called tether, have been a matter of growing concern for federal regulators and law enforcement. Unlike more volatile cryptocurrencies, tether’s value is pegged to the dollar, making it an ideal substitute in places where use of the U.S. currency has been banned by U.S. regulators.

Tether is the world’s most traded cryptocurrency, with as much as $190 billion changing hands each day. It is also a vital financing tool for several of the U.S.’s top national-security concerns. These include the North Korean nuclear-weapons program, Mexican drug cartels, Russian arms companies, Middle Eastern terrorist groups and Chinese manufacturers of chemicals used to make fentanyl, The Wall Street Journal has previously reported.

A cryptocurrency automated teller machine in Batumi, the Republic of Georgia, earlier this year. Photo: Andrey Rudakov/Bloomberg News
The Justice Department began an investigation into Tether several years ago, initially looking at whether some of Tether’s backers committed bank fraud by using falsified documents to get access to the global banking system, according to people familiar with the case.

Tether said it had no indication the company is facing a broader investigation. “To suggest that Tether is somehow involved in aiding criminal actors or sidestepping sanctions is outrageous,” the company said. “We work actively with U.S. and international law enforcement to combat illicit activity, as we’ve publicly demonstrated many times.”

Tether has stepped up its efforts to control how the cryptocurrency is used. Tether executives have said that the public nature of the ledgers used to track many tether transfers makes it unsuitable for criminality and enhances authorities’ ability to surveil and potentially seize it from bad actors.

U.S. prosecutors have taken on some of the crypto industry’s biggest players in recent years. Binance founder Changpeng Zhao was sentenced to four months in prison in April, and the company was fined $4.3 billion, for violating anti-money-laundering requirements.

Tether ran into regulatory trouble several years ago when it paid $61 million to resolve investigations by the state of New York and the Commodity Futures Trading Commission that found the company had misrepresented the assets that back its cryptocurrency.

Criminal charges against Tether could be bad news for Cantor Fitzgerald, the brokerage firm that counts Tether as a major client. Cantor manages most of Tether’s reserve assets, including more than $80 billion of Treasurys. Tether is one of the world’s biggest holders of U.S. government securities. Howard Lutnick, the chairman and chief executive of Cantor Fitzgerald, is an ally of Donald Trump and is a member of Trump’s transition team.

Howard Lutnick of Cantor Fitzgerald and JD Vance at a Cantor Fitzgerald Relief Fund event in New York in September. Photo: Dave Kotinsky/Getty Images
The Trump campaign didn’t address the federal investigation, but praised Lutnick as a “renowned business leader and philanthropist” who it said is volunteering as co-chair of the Trump-Vance Transition team.

Trump has embraced cryptocurrencies, promising favorable rules that would “make America the crypto capital of the world.”

Last month, Tether said it had frozen some 1,850 crypto wallets and recovered roughly $114 million in assets. The company in the past refused to freeze digital wallet addresses that the Treasury Department blacklisted.

The company, which had fewer than 100 employees earlier this year, has also been expanding its surveillance and lobbying capabilities.

It has announced partnerships with analytics firms Chainalysis and TRM Labs to help it better monitor transactions. Last month, the company announced it had hired a new head of government affairs, who was formerly working on digital currency regulation at PayPal.
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semperfrosty · Oct 25, 2024

I like the original in Budapest better but this is actually an amazing statue:

johnarb · Oct 26, 2024

orbit23 said:
It's been fun. See you at $30K.

Amazing how much time you still have to cash out before it all collapses. Grab this opportunity with BOTH HANDS.

https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether
More...

Perfect timing on that fud tether news, right into a surging btc price above $68.5k,

friday options expiration nonetheless,

post election bull market continuation...

johnarb · Oct 26, 2024

orbit23 said:
It's been fun. See you at $30K.

Amazing how much time you still have to cash out before it all collapses. Grab this opportunity with BOTH HANDS.

https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether
More...

$1B of inflows for the week from the bitcoin spot etf's, but somehow bitcoin is $2k lower than last weekend, no sir, there is no manipulation

ibit by itself has DESTROYED ALL ETF RECORDS since the etf's were created

But no one wants these magic internet money bit coins created out of thin air, ponzi, scam, the price is gonna crash soon, the sky is falling,

$24B of inflows for blackrock ibit, $10B of inflows for fidelity fbtc and the year is not over, yet ,but NO ONE WANTS THESE vapor air bit coins!

wxytrader · Oct 26, 2024

Still waiting...

wxytrader · Oct 26, 2024

NoahA said:
I don't mind looking at technicals myself, but you have to remember, all of these numbers are just a derivative of price. Its not a completely diffrent value that you bring in. Its not like looking at the economy, and then being able to add in other metrics like unemployment, which would be a completely different variable than GDP.

So if using RSI or MACD, because all of these value come from price, they can only tell you so much in my opinion. Furthermore, just because an indicator says one thing, it will have no effect on people buying bitcoin. Sure, some funds or individuals may think its setting up for a sell, but if a wave of adopters wants to buy, nothing can change this.

But looking at your own chart you post, this discrepancy is on display. If the first red box, you have RSI well extended, and yet price keeps rising. Your MACD was green, then went back down, and back up for another "hump", all while price was still rising. So if anything, if this repeats exactly like it did before, we are just getting started.

When you say MACD is rounding, remember what this means. Its simply that the calculation based on the previous prices is giving a certain result because of the formula. I do find it interesting how often RSI and MACD can suggest a turn, but you also have to remember how often it is wrong. And I say "wrong" loosely because its only a calculation based on past prices. If my previous 3 jobs paid me $20 an hour, does this meant the next job is likely to pay $20 an hour? Sure, but what if its after I finished my graduate studies and I just got hired by Google?

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Is uptober a bust? What about the current price action is there to get excited about? Technically I see nothing spectacular about it if we compare to previous up swings...and compare to an actual launch back in January.

If anything it is actually weaker relative to the previous peak.

A rising wedge pattern on the rsi?

To launch from here it would have to break all previous norms...which is why I'm still leaning towards another correction down to low 50's over the next 3 months.

@johnarb