Crypto thread

HD $212.50 PUT 5/15 exp 

5 contracts at $1.20 

I was doing some reading on that yesterday because I was curious as to the impact and I do not think it will be a big event. This halving represents like zero volume as it is only a move from 12.5 to 6.25 every ten minutes. That works out to a supply decrease of 900 a day. Previous halving went from 25 to 12.5 so double the impact and volumes back then were much lower. Today averge volume is likely close to 40k between all the different outlets so a 900 decrease is tiny. I think now BTC is boxed in, the spread is tight and controlled. I was hoping for more of a move into the actual event but this thing keeps failing at advancing...happened at 7k, 8k and now 9k. This is for sure the downside of allowing the financial markets into the game via futures and funds.

That PUT I bought at $225.50 I bought at $1.20 — stock goes to 227.50 and I sell it for $1.22.  

I really don’t understand these things sometimes. 

But that’s $9,000,000 a day now. 

$90,000,000 every ten days. 

$900,000,000 every 100. 

$3.3 Billion per year. 

Yes but relative to the trading volume it is minor. 900 a day of selling if all were sold (doubtful) is nothing. This is being moved by the financial markets and instruments...thats why often times the spread is a penny, that does not come from miners and buyers/sellers that comes from people trying to manipulate and control it.

Yeah I’m not sure. Certainly not expecting a straight line to the moon after the halving. 

5 days until Bitcoin halving 

What stocks are we shorting today? 

PENN earning call today. Should be disastrous. Thoughts? 

I wouldn’t be surprised if we see a shenanigan pump and dump to trap hopeful bulls before/around the halving 

Whenever I’m laughing at Peter Schiff on social media it’s usually a good time to buy gold 

So like clockwork, it goes to 9400 or so and a big wave of selling comes right in, volume ticked up as well...too much selling pressure to make a big move higher.

Alts are getting destroyed vs BTC lately 

Well the bigger issue is does 9000 hold and they move higher or does it retrace tonight back to 8700 for the like 10th time.

Seems to be stronger than usual 

3.17 million more jobless claims 

Bullish 

I might have to buy more alts with my BTC soon 

Nasdaq in the green for the year 

So what alts are not doing as well relatively speaking? Not that I am going to get any because until this process is fast and cheap I am not wanting to even mess with BTC in the future. Something about paying a near 3% vig just angers me.

Most of them are near their 3 year lows vs Bitcoin 

I dont know if the all boats are lifted approach is worth following...I'm likely going to see how the upcoming week goes price wise and get out. Then if we get a retrace I could buy in again.

Probably a good play 

I’m shorting PENN at $17.38 and HD at $230.38 

I can’t help myself 

Paul Tudor Jones buys bitcoin says it reminds him of gold in the 70’s 

Jones says his fund will hold low single digit percentage of its assets in bitcoin futures