Bitcoin price surges to post-crash high | Technology | The

For Trading April 3rd

For Trading April 3rd
Oil Recovery
Trading the Range
Jobless Claims Double
Today was pretty constructive in that we opened lower with the futures and of course the blockbuster news of Mr. Trumps tweet (which I find not believable) about and Oil deal between Russia and the Saudi’s, that sent us up to the high of the day +534, before we has some sideways action until around 1:15 when we started to sell-off and headed back to down on the day to -90 before we rallied and finished +469.93 (2.24%), NASDAQ +126.73 (1.72%), S&P 500 +56.40 (2.28%), the Russell +13.81 (1.29%) and the DJ Transports +93.13 (1.27%). There was plenty of news to start the day with Initial Jobless claims that were double the prior number at an astounding 6.6million. Unfortunately, the number next month will be higher. Tomorrow, we have the monthly employment number for March as well as the ISM non-manufacturing pre-open. I regarded today’s market action as very constructive. The lower open and then rally and a second round-trip to a close near the highs was impressive. While there is still plenty of work to be done, plenty of bad news on the economy and COVID-19 to come, we seem to be building some underlying support. Market internals were positive but unimpressive with gains outnumbering losers by 1.4:1 on both NYSE and NASDAQ. Volume was also lower that I would have liked to have seen. On the DJIA there were 25 gainers to 5 losers with BA -50, UTX -36, and WBA-18DPs, while the gainers were led by CVX +50, PG and CAT +36 and MMM+32 DPs.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 800 members.
SECTORS: Walgreen reported earnings today and although they had better than expected numbers, they gave less than stellar guidance and the stock fell to a lower low than the March bottom and made a new low close since 2013. WBA fell to $39.41 and closed $40.32 -2.71 (6.3%). We used the decline to buy some CVS calls, which has been consolidating and has outperformed its competitor. Shopify suspended its guidance and the stock, another darling that was priced for perfection got slammed. The stock, up from $20 in 2016 topped out over $593 in February had fallen to 303 last month but climbed back to $470 last week fell to $334.55 before closing 346.30 -38.37 (9.97%).
And last, the Disaster Du Jour was Luckin Coffee (LK), the Chinese Starbucks, sort of. The stock spent 7 months between $15 and $25 before taking off on a run from $18 to over $50 late last year. It fell back to $28 but had traded up to $43 last month before starting down and closing just above $26 yesterday. Unfortunately, the COO was found to have basically fabricated all of the results since Q2. Muddy Waters wrote up the company on 1/31 saying it had “evolved into a fraud.” The stock gapped down to open $4.92, rallied back to $10.58 buy gave up the gains and finished $6.40 -19.80 (75.57%). Clearly a disaster on any day.
BIOPHARMA: was HIGHER with BIIB +11.20, ABBV +1.08, REGN +1.35, ISRG +8.74, MYL -.23, TEVA -.35, VRTX +16.68 (7.4%), BHC M+.10, INCY +4.32 (5.82%), ICPT +.89, LABU +1.98(10.42%) and IBB $108.69 +4.90 (4.72%).
CANNABIS: This group was MIXED with TLRY +.25, CGC +.29, CRON +.14, GWPH -.50, ACB +.04, PYX -.37 (13.26%), NBEV -.04, CURLF +.08, KERN +.04 and MJ $10.77 +.21 (1.99%).
DEFENSE: was HIGHER with LMT +14.98 (4.43%), RTN -3.93, GD +.35, TXT +.07, UTX -5.37 (5.88%), NPOC +7.30, BWXT +2.24, TDY +14.50 (5.23%) and ITA $136.94 +.47 (.34%).
RETAIL: was LOWER with M +.01, JWN -.13, KSS -1.12 (8.66%), DDS -2.29 (8.20%), JCP -.02, WMT +4.36 (3.82%), TGT -.97, TJX -.77, RL +.28, UAA -.42 (5.08%), LULU +2.08, TPR +.04, CPRI -.69, and XRT $27.64 -.39 (1.39%).
FAANG and Big Cap: were HIGHER with GOOGL +14.90, AMZN +8.80, AAPL +2.99, FB -1.80, NFLX +3.92, NVDA +11.06, IBM +4.31, TSLA +53.44, BABA +.89, BIDU +1.12, BA -6.32, CAT +5.06, DIS +1.18 and XLK $78.33 +1.79 (2.34%).
FINANCIALS were HIGHER with GS +5.21, JPM +3.02, BAC +.68, MS +2.14, C +.50, PNC +3.38, AIG -.20, TRV +3.79, AXP -1.14, and XLF $20.04 +.49 (2.51%).
OIL, $25.32 +5.01. The explosive move in Oil today was spurred on by an early morning tweet from Mr. Trump claiming that Russia and the Saudi’s were close to an agreement. My first thought was BS, but the market held and finished strong. My only warning is that we have had several of these spikes that have failed with news that we knew was real. The stocks were stronger across the board with CVX the big winner +7.56 (11.03%) and added 50 DPs. XOM +3.12 (8.13%), OXY +2.05 (19%), OAS +.06, NBL +.47 (8%), MRO +.33, MPC +.58, RIG +.02, APA +.68 (16.92%), BP +1.80 (7.38%) and XLE $30.15 +2.53 (9.16%).
METALS, GOLD: $1,637.70 +46.30. After the recent gains, Gold has failed to break through the highs around $1700 and have fallen back. Today’s rebound is of little technical value. I will reassess and look for a new entry point.
BITCOIN: closed $6,865 +655. After we traded in another short-range day yesterday we had a range of over $1000 today, closing about midrange. While I want to add the 350 sold just over a week ago, I want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $7.72 +1.22 today.
Tomorrow is another day.
CAM
submitted by Dashover to options [link] [comments]

Bitoffer Institute: Grayscale Invested 2/3 of New Bitcoins, Bitcoin ETF Ready to Surge

Lots of stories shown up in the market of which Grayscale Fund has bought bitcoin aggressively recently, which triggering the current round of bitcoin rising from $3800 to the $10,000 barrier, therefore, divergent opinions about this messages are shown up in the market.
Firstly, the key point we should notice is that the Grayscale Fund does indeed buy Bitcoins. Official data shows that within one month as of mid-May, the Grayscale Fund collected 37,000 bitcoins from the market, occupying more than 70% of the entire net mining output and which is equivalent that most of the new Bitcoin’s supply in the market has been swallowed. In theory, the market will indeed form a certain short-term rise effect.

https://preview.redd.it/81kp5jz0v3151.png?width=722&format=png&auto=webp&s=070818a8679689c45a03f189cd1d34ad56e395ce
Secondly, the global economic recession which affected by the COVID-19 lead to the collapse of the currency price. Usually, the negative factors brought about by external will only cause a temporary decline. This is the market inertia so the rise in currency prices also has a factor of oversold rebound.
Finally the most significant factor is that Bitcoin ushered the third halving of block rewards, the output of Bitcoin is declining however the quantity of Bitcoin itself is fixed. After the production is reduced, Bitcoin has become scarcer and the limited supply accompanied by the infinite demand, which will inevitably cause long-term bullish prices.n Therefore, intrinsic bull news is the most critical factor driving the increase of Bitcoin price. Under the influence of multiple factors such as Bitcoin halving, oversold rebound and snapped up by the funds constitute the real reason for this rise, not just the single factor of market capital buying.

https://preview.redd.it/ziqhq0e4v3151.jpg?width=1280&format=pjpg&auto=webp&s=730a4e953e44825c1bb52fb50309adc2ef1e1c49
So what is Grayscale?
Grayscale is a trusted authority on digital currency investing which established in 2013 by Digital Currency Group(DCG). Grayscale Investments is the sponsor of Grayscale Bitcoin Trust (BTC), Grayscale Bitcoin Cash Trust (BCH), Grayscale Ethereum Trust (ETH), Grayscale Ethereum Classic Trust (ETC), etc..As an American crypto asset management company and a global giant crypto asset fund, currently has a Bitcoin trust asset of 3.29 billion US dollars, which is roughly equivalent to 353621 bitcoins at the current price.
In mid-April, the total value of the Bitcoin trust assets controlled by the Grayscale Fund was only 2.09 billion US dollars, which was equivalent to 315,779 bitcoins. This means that the Grayscale Fund bought 37,824 bitcoins within a month, which nearly average 1,261 per day. On the eve of bitcoin halving, the daily market output was around 1,800 bitcoins. From the data, grayscale is indeed a large-scale acquisition of bitcoin on the market which is very strong, consequently, this action triggering market speculation about this acquisition.

https://preview.redd.it/6gc8vkv8v3151.jpg?width=696&format=pjpg&auto=webp&s=d3d1d6fe7aaa0408ecb87754c8b15b6569be1eb5
Comparing with those foreign institutional funds which entering the market with a large amount of bitcoin purchasing, what are the market funds doing? Lucian, the chief analyst of BitOffer, revealed to us: Generally speaking, when users enter the market to buy Bitcoins, the USDT price will rise sharply, because the increase in demand will directly trigger the price increase, which will generate positive feedback. In the round of BTC increase, the USDT price has dropped sharply, which reflects that users are shipping heavily. Compared with foreign data, foreign institutional funds are taking over.
Lucian also concluded that from this phenomenon, the market capital movements are relatively one-sided. According to BitOffer's official data, since the plunge occurred on March 12th, the bitcoin ETF fund which Bitoffer launched has been purchased more than US $ 500 million in the past two months, and the ETF market share is only second to the Grayscale digital asset management company. In addition, the Ethereum ETF fund has also shown a substantial growth trend which indicates that global institutional funds are entering the market to buy digital ETF funds.

https://preview.redd.it/43olhg7ev3151.png?width=4000&format=png&auto=webp&s=34fe908e251796c66f17fc1e5d6020c0b02b04c4
Bitoffer launched the world’s first Bitcoin and Ethereum ETF fund, the earnings in the last year outperformed all major tokens. Immediately subscribe and enjoy the abnormal returns!
The advantages including:
  1. Support buying long and short, no deposit, and no fees with open-end funds purchase function!
  2. Automatic position adjustment mechanism with at least 3X as high 15X profit!
  3. Simplicity of trading, purchase, and redemption both with USDT!
  4. No limitation of the trading period, no liquidation mechanism and can trading anytime with anywhere!
submitted by Bitoffer_Official to BitOffer_Official [link] [comments]

Bitoffer Institute: Grayscale Invested 2/3 of New Bitcoins, Bitcoin ETF Ready to Surge

Bitoffer Institute: Grayscale Invested 2/3 of New Bitcoins, Bitcoin ETF Ready to Surge
Lots of stories shown up in the market of which Grayscale Fund has bought bitcoin aggressively recently, which triggering the current round of bitcoin rising from $3800 to the $10,000 barrier, therefore, divergent opinions about this messages are shown up in the market.
Firstly, the key point we should notice is that the Grayscale Fund does indeed buy Bitcoins. Official data shows that within one month as of mid-May, the Grayscale Fund collected 37,000 bitcoins from the market, occupying more than 70% of the entire net mining output and which is equivalent that most of the new Bitcoin’s supply in the market has been swallowed. In theory, the market will indeed form a certain short-term rise effect.

https://preview.redd.it/81kp5jz0v3151.png?width=722&format=png&auto=webp&s=070818a8679689c45a03f189cd1d34ad56e395ce
Secondly, the global economic recession which affected by the COVID-19 lead to the collapse of the currency price. Usually, the negative factors brought about by external will only cause a temporary decline. This is the market inertia so the rise in currency prices also has a factor of oversold rebound.
Finally the most significant factor is that Bitcoin ushered the third halving of block rewards, the output of Bitcoin is declining however the quantity of Bitcoin itself is fixed. After the production is reduced, Bitcoin has become scarcer and the limited supply accompanied by the infinite demand, which will inevitably cause long-term bullish prices.n Therefore, intrinsic bull news is the most critical factor driving the increase of Bitcoin price. Under the influence of multiple factors such as Bitcoin halving, oversold rebound and snapped up by the funds constitute the real reason for this rise, not just the single factor of market capital buying.

https://preview.redd.it/ziqhq0e4v3151.jpg?width=1280&format=pjpg&auto=webp&s=730a4e953e44825c1bb52fb50309adc2ef1e1c49
So what is Grayscale?
Grayscale is a trusted authority on digital currency investing which established in 2013 by Digital Currency Group(DCG). Grayscale Investments is the sponsor of Grayscale Bitcoin Trust (BTC), Grayscale Bitcoin Cash Trust (BCH), Grayscale Ethereum Trust (ETH), Grayscale Ethereum Classic Trust (ETC), etc..As an American crypto asset management company and a global giant crypto asset fund, currently has a Bitcoin trust asset of 3.29 billion US dollars, which is roughly equivalent to 353621 bitcoins at the current price.
In mid-April, the total value of the Bitcoin trust assets controlled by the Grayscale Fund was only 2.09 billion US dollars, which was equivalent to 315,779 bitcoins. This means that the Grayscale Fund bought 37,824 bitcoins within a month, which nearly average 1,261 per day. On the eve of bitcoin halving, the daily market output was around 1,800 bitcoins. From the data, grayscale is indeed a large-scale acquisition of bitcoin on the market which is very strong, consequently, this action triggering market speculation about this acquisition.

https://preview.redd.it/6gc8vkv8v3151.jpg?width=696&format=pjpg&auto=webp&s=d3d1d6fe7aaa0408ecb87754c8b15b6569be1eb5
Comparing with those foreign institutional funds which entering the market with a large amount of bitcoin purchasing, what are the market funds doing? Lucian, the chief analyst of BitOffer, revealed to us: Generally speaking, when users enter the market to buy Bitcoins, the USDT price will rise sharply, because the increase in demand will directly trigger the price increase, which will generate positive feedback. In the round of BTC increase, the USDT price has dropped sharply, which reflects that users are shipping heavily. Compared with foreign data, foreign institutional funds are taking over.
Lucian also concluded that from this phenomenon, the market capital movements are relatively one-sided. According to BitOffer's official data, since the plunge occurred on March 12th, the bitcoin ETF fund which Bitoffer launched has been purchased more than US $ 500 million in the past two months, and the ETF market share is only second to the Grayscale digital asset management company. In addition, the Ethereum ETF fund has also shown a substantial growth trend which indicates that global institutional funds are entering the market to buy digital ETF funds.

https://preview.redd.it/43olhg7ev3151.png?width=4000&format=png&auto=webp&s=34fe908e251796c66f17fc1e5d6020c0b02b04c4
Bitoffer launched the world’s first Bitcoin and Ethereum ETF fund, the earnings in the last year outperformed all major tokens. Immediately subscribe and enjoy the abnormal returns!
The advantages including:
  1. Support buying long and short, no deposit, and no fees with open-end funds purchase function!
  2. Automatic position adjustment mechanism with at least 3X as high 15X profit!
  3. Simplicity of trading, purchase, and redemption both with USDT!
  4. No limitation of the trading period, no liquidation mechanism and can trading anytime with anywhere!
submitted by Bitoffer_Official to BitOffer_Official [link] [comments]

TRUE historical data on yearly lows (correcting repetitive historical false information spread on reddit and twitter)

Recently, wrong historical data on the alleged Bitcoin yearly lows could be repetitively read in ill-researched or "blindly copy-pasted" posts and tweets, e.g. falsely claiming a yearly low for 2013 of $65, where $13 is the correct value (wrong by a factor of 5)!
Here is the correct data:
TRUE yearly lows (first historically recorded trade occurred at MtGox exchange on 17th July 2010; bitstamp exchange started operation on 13 Sep 2011*):
*not included: Bitcoin prices of around $0.003 on Bitcoin USD markets recorded since 25th April 2010, consistent with famous two Bitcoin pizzas from 22nd May 2010 worth $30 for 10,000 BTC.
Yearly absolute lows (just omitting obvious implausible data flaws) - not recommended because short outliers of very low trade volumes can bias the view of the real market situation:
Yearly lows of daily weighted averages - more useful because short outliers with very low volumes are not biasing the statistics:
  • 2010: $0.05 (MtGox, 17th & 24th & 25th & 26th July)
  • 2011: $0.29 (MtGox, 4th January)
  • 2011: $2.24 (bitstamp, 21st October)
  • 2012: $4.33 (bitstamp, 19th February)
  • 2013: $13.01 (bitstamp, 1st January)
  • 2014: $305.81 (bitstamp, 5th October)
  • 2015: $189.84 (bitstamp, 14th January)
  • 2016: $370.21 (bitstamp, 3rd February)
  • 2017: $783.46 (bitstamp, 12th January)
  • 2018: $3171.72 (bitstamp, 15th December)
  • 2019: $3365.06 (bitstamp, 7th February)
  • 2020: <= $7030.21 (bitstamp, 2nd January)
Change rates:
  • 2011: x 5.8 (+480%)
  • 2012: x 14.9 (+1390%)
  • 2013: x 3.0 (+200%)
  • 2014: x 23.5 (+2250%)
  • 2015: x 0.6 (-40%)
  • 2016: x 2.0 (+100%)
  • 2017: x 2.1 (+110%)
  • 2018: x 4.0 (+300%)
  • 2019: x 1.1 (+10%)
  • 2020: <= x 2.1 (<= +110%)
How to do this yourself:
Example for 2013:
https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zv
Click on "Load raw data" below the chart, copy-paste to spreadsheet like Libre Calc or MS Excel or Google documents, apply "min" function on the column of daily lows or daily weighted averages.
For year 2013 on bitstamp, the yearly low was reached on 1st January 2013: - Daily absolute low = $12.77 - Daily weighted average = $13.01
submitted by Amichateur to Bitcoin [link] [comments]

WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future

I was hoping I wouldn't have to make this kind of post about the Lightning Network (LN) but unfortunately due to recent events and a long track record of being "reckless" (being a broken and unsafe network) I feel obligated to make this post to warn unsuspecting users that are being tricked into thinking Lightning Network is safe and usable.
At this stage it has become abundantly clear that LN is not safe to use at this time, and anyone that uses it is at a very high risk of losing funds.
There seems to be this false sense of security that things are just fine and that it's okay to use LN, when it couldn't be further from the truth. We get a lot of trolls coming here spouting that LN is the next best thing since sliced bread, better than Bitcoin itself, and is the future. And maybe one day it could be, but at this time, it's clearly not and people that are here trying to trick you into this false sense of belief are intentionally deceiving you.
Below is a long list of links I just spent a few mins compiling which shows, that LN is over-promised, a long ways away from being in working order, and is unsafe to use.
It should probably go without saying, but to be fully transparent: none of these issues occur on Bitcoin Cash (BCH) because BCH doesn't depend on Lightning to scale, but scales on-chain. So if you want to avoid all of these problems and security issues with Lightning, just use Bitcoin Cash instead. Problem solved.
submitted by BitcoinXio to btc [link] [comments]

Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!

That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ???
Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth.
Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ...
.
Bitcoin Achievements so far:
  1. It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
  2. Many 1,000's of hacks, thefts, losses.
  3. Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
  4. Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
  5. Contributing significantly to Global Warming.
  6. Wastes vasts amounts of electricity on useless, do nothing work.
  7. Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
  8. It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
  9. It created a new way for people living too far from Vegas to gamble all their life savings away.
  10. Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
  11. Increased China's foreign trade balance by a couple billion dollars per year.
  12. Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
  13. Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
  14. Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
  15. Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
  16. Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
.
Correct Predictions:
  1. 2015-12: "1,000 dollar in 2015", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/ (Technically, this prediction is WRONG because the highest price reached in 2015 was $495.56 according to CMC. Yes, Bitcoin reached $1,000 in 2013 and 2014, but that's NOT what the prediction says).
  2. 2017-12: "10,000 in 2017", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  3. 2018-04: $10,000 (by April 2018), Mike Novogratz, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.bloomberg.com/news/articles/2017-11-21/mike-novogratz-says-bitcoin-will-end-the-year-at-10-000
  4. 2018-12: $10,000 (by 2018), Tim Draper, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.youtube.com/watch?v=3AW5s6QkRRY
  5. Any others ? (Please tell me).
.
Bitcoin Promises / Claims / Price Predictions that turned out to be lies and bullshit:
  1. ANONYMOUS
  2. CENSORSHIP RESISTANT
  3. FRICTIONLESS
  4. TRUSTLESS
  5. UNCENSORABLE
  6. UNTRACEABLE
  7. SAFE
  8. SECURE
  9. YOU CANNOT LOSE
  10. NOT A SCAM
  11. PERMISSIONLESS
  12. GUARANTEED PRIVACY
  13. CANNOT BE SEIZED
  14. CANNOT BE CONFISCATED
  15. Be your own bank
  16. Regulation-proof
  17. NO MIDDLEMEN