The Crypto Market is Booming

The crypto market has been showing a bullish trend lately, with major players like Bitcoin and XRP experiencing significant surges. This momentum has opened up numerous opportunities for traders and investors to capitalize on.

For instance, platforms like Bitget are hosting exciting events such as Diamond Thursday, where participants can trade top trending coins like Bitcoin, TRX, Doge, Solana, and more. Traders stand a chance to win from a prize pool of $150,000 USDT.

This is a great time to explore the market, whether you're a seasoned trader or just getting started. As always, remember to trade responsibly and stay informed.

What are your thoughts on the current market trends? Are you participating in events like these?

Realised I needed to report crypto-crypto transactions to HMRC. How far back do I need to report?

As per the title, I have been trading crypto since 2017. I have not 'cashed out' more than the capital gains tax free allowance into my bank during that period, however, I have now just learnt that crypto-crypto trades are taxable events and I will need to report these, and I am panicking.

At one stage, I was trading significant sums (50K-100K), with on-paper profit close to 200K. The market crashed and my portfolio value dissipated, I consolidated certain coins into Bitcoin to prevent hemmoraging in 2023 at a loss and have left it untouched since then.

I will be contacting HMRC this week, but I would like to know how far back I will need to report? In 2020, at peak activity I must have made 1000+ transactions which as you can imagine will be a bit of a pain to collate.

Is there a cutoff point for this kind of disclosure?

Goldman Sachs eyeing crypto market-making for Bitcoin, Ethereum if US regulations shift

🚨 Crypto News: Goldman Sachs CEO David Solomon hinted at a potential leap into becoming a spot market maker for $BTC and $ETH—if U.S. regulations step up their game. Speaking at the Reuters Next event in NYC, Solomon said the bank can't currently hold crypto but described it as "interesting technology" catching investor attention. While unclear on what the regulatory future holds, Solomon made it clear: crypto’s growing relevance demands attention.

On the reputational front, Solomon shot down fears of scandals, pointing out that criminal activities occur in fiat too, yet fiat doesn’t take the blame. Goldman Sachs focuses on vetting its business relationships—not judging $BTC.

Regulations might be a roadblock, but Goldman isn’t sitting idle. They're diving headfirst into blockchain innovation. The bank is spinning off a blockchain platform in partnership with key players and working on tokenization projects for institutional clients. This could reshape how real-world assets are digitized on-chain. Let's not forget their $718M exposure to Bitcoin through ETFs—making it clear Goldman knows where the future is headed.

Is this a sign of institutions gearing up for the next crypto boom? Only time (and U.S. regulators) will tell. #Bitcoin #Ethereum #CryptoInnovation

Paging All $BTC HODLers

Hello fellow HODLers of Bitcoin,

TLDR: We're going to the moon

Here's my 2 cents (Shoutout Honest Abe) on where we're going (rhymes with noon). Since Bitcoin is in fixed supply (there are only 21 milly) and we have a halving roughly every 4 years (basically we mine less and less), the supply-demand equilibrium has to change in response to the halving event. Everyone knows after the halving we're supposed to enter a crazy bull run as we search for a new equilibrium price. Question is how high is the equilibrium price? (Definitely not as high as me but anything is possible)

I'm going to try some charts to help you see the signs. (the signs....what do they mean? iykyk)

First, lets take a peek at the (John) Daily chart of BTC from the last halving cycle in 2020. Last time, we had a nice supporting trend line (the blue diagonal one) from near the original breakout (early November) to the local bottom (right hand side of the blue line) before the real move up (starts mid December). You see the big red candle that is a fake bottom halfway on the trend line? That's the suits taking all the 1,000x regards out and stopping them out. Notice how it happens right after we try and fail to break 20K in late November. Keep it that ur brain. So we take a deep dive down, hit the support line, go back up and successfully break 20K, only to chop around and eventually fall to the support again. The support again is mid December and marks the day the rocket ship leaves the launchpad.

https://preview.redd.it/06ce2kttq26e1.png?width=2012&format=png&auto=webp&s=a56031202de2451868e0cf42a527e7d6d2293283

Now, what are those rainbow line looking color things? That's a tool that Senor Fibonacci made to measure mathematical resistance or support lines during a move. Think of them like checkpoints. We need to break one and stay above it before going to the next one. In this one we see our move from local bottom(big red candle and day after) to local top (stage 1 of breakout) was 50% in the course of 4 weeks. Quick Side Note: The two lines and green/red bars below is a momentum indicator. When blue crosses orange upwards (bullish) and downwards (bearish). Green is rippy mode, red is nah. Just look at it.

Now to today.....................

Notice the same support trend line (blue line). I can't find waldo but I found a big red candle again after failing to break 100K. No way, don't be playing with me again. And after we successfully break 100K and then chop around only to return to support line. Oh, ****. Wait, wait, wait, when did this happen? *Checks chart*: Early November to....mid-December (within a day). So does that mean price is going to be the same? Can't be sure (the suits have their hands all over the exchanges), but if so take a quick 50% upside move from local bottom following big red candle and we get roughly 130K before Christmas. Talk about a stocking stuffer.

https://preview.redd.it/2p1trhg9q26e1.png?width=2008&format=png&auto=webp&s=7848aa29e52800ceaaafd121ae767f716ea81d30

Oh, man you thought I was done...NAH THIS IS GENERATIONAL WEALTH. Peep the momentum indicator for today's chart. Look similar?

Now the daily chart is helpful, but news can change the price action of a day so lets zoom out to a weekly chart and see if the true economic powers that be are at play.

https://preview.redd.it/nnrh9bztw26e1.png?width=2006&format=png&auto=webp&s=f78f23cd52888846abead953ce52d35adcfb398b

Check it. Big Green, Red, Green, Red, Liftoff. Today...

https://preview.redd.it/vte81759x26e1.png?width=2012&format=png&auto=webp&s=bccdc2d1c220b9a59109e83a18846250c44b8fcf

No...****ing...way. Big Green, Red, Green, Red....

(I expect Bitcoin to have a better close to this week, but still but down. Next week though, as Terrell Owens would say, "Get Your Popcorn Ready")

If you've made it this far then you really think I have half a brain cell. In case you're wondering what I'm working on next:

Speaking of popcorn, I've got the munchies and I'm about to eat an entire bag of it and watch the Big Short because I've got a feeling history has a way of repeating itself. (NVDA FUQ'D?)

Until then peace, love and positivity to all those who read this and to those that don't <3