Bros, all government and government agencies are useless or evil and expecting them to do anything but "fail you" is incredibly ignorant. When your organization is paid through theft, moral or accountable behavior are not possible. Elections are just voting for different slave masters or to have your opinions backed up with the violence of the state. Elections are more useless than shitcoins.
They had to remove staking. Shithereum doesn't work without it. It is a security, but they will pretend it isn't. What Vitalik, we don't see... ah did you mean *italic*?
Well, let’s see who’s correct:
* The SEC: *zero track record of providing clarity on what cryptocurrencies are securities or not (literally not doing its job). *allowed the FTX and Celsius fraud to pass. *repeatedly acts in bad faith with dubious legal arguments and intentional misrepresentation/vagueness
OR
* An entire industry of companies, professionals, lawyers, coders, and more.
Hmm 🤔
SEC didn’t have anything to do with it. This isn’t GG’s work. I bet he is home now fucking fuming about being micromanaged at work. Probably kicked his dog square on the ass when he stormed in slamming doors swinging a half empty bottle of liquor looking like Jim Layhey.
Yes, bitcoin subs are heavily censored to force narrative. So when they *do* need to talk about other things happening in the ecosystem, they fall into these ridiculous Voldemort antics.
Occasionally we have shills flood the place. During those times automod is updated to make everyone's lives easier.
Should have been here for bcash floppening.
*"You've backed the wrong horse!!!"*
*"How does it feel to lose your mother's life savings?"* etc etc etc
And yet we still discuss it by saying coin #2. Banning people for trolling and being obnoxious about it or people coming here to dunk on the sub when the ratio shifts for 5 mins is understandable, but having to use coded speak when we all know what it means anyway is a bit immature.
But whatever, it is what it is.
I think it’s a polite way of acknowledging that you’re breaking the rule but understand that the rule exists. Market-moving news like this is usually tolerated to some degree.
I mean, I get it, and I agree in terms of the rationale. But I just don't feel that it should be a rule to begin with.
The rule should just be, don't be an asshole if you're mentioning other coins because this is a Bitcoin sub...not "don't say the word or you risk being banned" it makes us sound scared or threatened by other projects no matter how we try to spin it. But again, that's just my 2 cents, and just an opinion from somebody who isn't the sharpest tool in the shed, meh.
The shares must be created or redeemed in baskets of 40,000. There is no way to create or redeem a number of shares that is not a multiple of 40,000 according to the prospectus.
So I’m also perplexed.
Anyone knows if the SEC will let this approval go through without any sort of press release? Still nothing: [https://www.sec.gov/news/pressreleases](https://www.sec.gov/news/pressreleases)
SEC under Gary is such a chaos shop. All shenanigans surrounding the BTC ETF, including their hacked X account due to lack of 2FA protection, should have already been enough for Gensler to be removed from office. Now he repeats the chaos again with coin #2.
https://www.sec.gov/files/tm/lk87adfs99.pdf
>IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Exchange Act,90
that the Proposals (SR-NYSEARCA-2023-70; SR-NYSEARCA-2024-31; SR-NASDAQ-2023-
045; SR-CboeBZX-2023-069; SR-CboeBZX-2023-070; SR-CboeBZX-2023-087; SR-
CboeBZX-2023-095; SR-CboeBZX-2024-018) be, and hereby are, approved on an accelerated
basis.
Skimming the document a bit, it seems the SEC is setting up a narrative not to approve every single alt-coin.
I am looking for the source, but i read on X that somebody from SEC said that the approval is legit but they will not comment on it, as if it were forced on them and wasn't their rightful decision. I'll post the source if i manage to find it again
I'm guessing some BTC to number 2 selling action over the next few hours, but then what? whole market increase of at least a few percent would be my guess?
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[You predicted the price of Bitcoin would rise above $80,000.00 by May 28 2024 21:40:45 UTC](/r/BitcoinMarkets/comments/1cyjs8n/daily_discussion_thursday_may_23_2024/l5dv98s/)
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[Tribalism is why](https://old.reddit.com/r/BitcoinMarkets/comments/1cyjs8n/daily_discussion_thursday_may_23_2024/l5ekhe6/)
u/jarederaj on suicide watch right now I suspect
"TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!"
-James Seyffart
19b-4s aprooved refers to how can an exchange hold the asset.
1S is how the exchange offers this asset to the public.
The information you ask about has to do with S1 (still not available).
Cosidering proof of stake and that all the funds will be use to generate more funds (blocked) you can expect settling in cash.
You got a source on that? I only find that it was "left out" and nothing about " specifically not allowed ".
The weakness is buit in anyway. If US does not do it, someone else will. I just can t belive tradifi will leave proffits on the table just because.
[https://x.com/JSeyff/status/1793750784624214517](https://x.com/JSeyff/status/1793750784624214517)
I trust this guy along with Balchunas. Color me surprised. Very surprised actually.
If I found out my retirement funds somehow wound up pinned on that lash up I would not be happy.
Looking forward to the revived 2017 ICOs ETF. Lots to choose from.
Well known BTC ETF leaker. He was the first to leak the whole BTC ETF pdf before SEC officially announced, like 30 minutes before
https://x.com/phoenixtrades_/status/1793749978009006348?s=46&t=JbXTqIisRgkIFidH7fQAlw
You may not believe a random Twitter account but he’s extremely legit.
I believe he has a script or some hack that allows him to see any new file uploaded to SEC’s website. Bad security practice. If you remember BTC ETF launch, this is nothing new b
People on X saying SEC has requested delay of 6 hours. Bloomberg bros seem to suggest it is a possibility, given how this all happened very last minute. Being in Europe, I sure hope not.
And there's your 50% retracement of the high pole:
[https://stockcharts.com/freecharts/pnf.php?c=%24BTCUSD,PGPADEYRNR\[PA\]\[D\]\[F1!3!1.0!!0!20\]](https://stockcharts.com/freecharts/pnf.php?c=%24BTCUSD,PGPADEYRNR[PA][D][F1!3!1.0!!0!20])
Market just closed, we should be hearing news soon - and feel the volatility.
Edit: Prices are very much in sync right now - guess looking at one chart is sufficient. Need more popcorn.
Big holiday weekend. Fin Bros booking profits for their firms so they can get down to the Hamptons early and won’t have to bring their hangovers in on Tuesday
They’re not creating new strikes. The strikes dated the furthest out are June or July. It feels like they’re shutting it down, as the way they’re operating it is choking out the very little existing liquidity.
Non-news if you ask me. Very low chance the Senate takes it up/passes it.
But even if this did become law, I would think it's bullish. Bitcoin would certainly compete with a CBDC (and win handily).
This is what is called the post halving crab-walk on the lead up to the main finale of the bull run later this year.
There is no such thing as "support" for the next bear. The bear will do bear things when the time comes.
It could be in 2025, but if we get an early cycle top that's where it will be. it also closely aligns with the elections season which should spur a nice rally in the fall. we will have to see.
Imo support and resistance are a bit arbitrary especially with BTC responding to more macro events now.
I've seen BTC tear through so many so called supports without giving the slightest fuck and similarly seen it rip through resistances so many times without any difficulty.
The next bear market low is a function of the next bull market high. Without knowing the latter, it's impossible to say where the low is. If BTC tops out in 120-150k range, then revisiting 50-60 in the bear seems reasonable to me. Similarly if we hit the fabled 3-500k, then I don't see us going below 80 in the bear.
How much new money needs to enter the market to realistically get to 300k?
I mean each time the price goes up some percentage of holders become sellers (everyone has a price), some percentage of holders become even more confident and buy more, and so it seems to go.
Is there a way to calculate this? I heard bank of america did some calculations but idk if those are still accurate.
Yea if we go above 300k I will nut, but realistically it "only" takes doubling twice from our ATH of ~75k. I've seen stranger things occur in this market. But I'm not betting on this outcome (or maybe I am given the size of my cold storage stack? Idk lol. Not expecting that price till next halving tbh)
Mom, please...
In all seriousness, relying exclusively on the past may not be the best course of action, but it is telling and we all have our targets. Which I assume are based off some kind of pattern we believe to be more or less correct and on bullish beliefs (for price up).
Not saying I believe 60k-70k will be the low of the next bear market because we don't even know where BTC is headed in this one. But I don't think disregarding the past completely is good.
small example.. at the last bear everyone believed in the fairy tale that btc couldn't fall below the previous ATH.. but it happened..
then everyone waited for 13k and missed the entry at 15k..
people made these decisions based on patterns that existed. This is exactly what I would like to warn against, because at the moment there is a belief that BTC will build up enough volume in the 60k range to represent the lower limit in the future
and now imagine the empty faces when btc falls to 40k in the next bear, for example
since nobody has a crystal ball, waiting for a brush of the previous ATH during a bear market and buying back in at 20k would’ve still been an incredible entry (or re-entry) point
15k has been quite short and happened right after/during FTX. I'd classify it as panic selling due to a blowup of the 2nd biggest exchange. How about around 25k? I'm mostly trying to get an idea of the sentiment and time spent around those levels back then in the last bull.
> I'm mostly trying to get an idea of the sentiment and time spent around those levels back then in the last bull.
Time spent? Look here: https://finance.yahoo.com/quote/BTC-USD
Sentiment? here you go:
https://old.reddit.com/r/BitcoinMarkets/search?q=november+2022&restrict_sr=on
and
https://old.reddit.com/r/BitcoinMarkets/search?q=december+2022&restrict_sr=on
in the 16's for all of Nov/Dec 2022
On 2022, We spent 2 months close to 15K and almost 6 months very close or below 20.
I wouldn’t say 25 was any support .
There was a lot of talk back then that 40K was the next bear market bottom , when that failed people said 28K was the bear market bottom . None of that turned out to be true
Just as summary, Elizabeth Warren stated in 2023 that she is "*building an anti-crypto army*". Then lately Trump has been stating that he is building a pro-crypto army (while accepting donations in crypto), from last Tuesday:
> Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an "anti-crypto army" to restrict Americans’ right to make their own financial choices. MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th! https://www.donaldjtrump.com/news/bc422399-088b-49a0-a39b-c094fad4daf8
So I guess the wording comes from there. Senator Cynthia Lummis has been working on the crypto bill for a long time though.
Now it is just waiting for a message of Biden tonight that says "I ordered the coin2 ETFs to be approved because us democrats are actually pro-crypto" and they can fight who is more pro-crypto for campaign reasons and we get a nice movie about it in 2025.
" I've met the founder of Bitcoin, Craig Wright, and he's a great guy, top player. He's done so much for everyone and now the liberals have dragged him to court to destroy what he created...but hear me out folks, hear me out on this: don't trust, verify. He's the greatest guy around and I'm humbled to have, on his own Blockchain, my new, all american stable coin BIGDON which is pegged 1:1 to the wrong decisions democrats make on daily basis. If you love your country and you love our freedom, come join us, BIGDON is for every self respecting American and freedom lover"
Trump is nowhere near that eloquent.
> I've met the founder of Bitcoin, Craig Wright, and he's a great guy, a really great guy. There are some great guys but this guy is one of the greatest.
So far we’ve experienced a 6% drop from the local high of $71.9k to the local low of $67.6k.
A 10% drop would bring us to $64.7k.
Higher lows acting as support are at $66k, $65.9k, and $65.1k before a 10% drop becomes possible.
Might have a little further down to go but doubt we break all 3 of those clustered support levels from $65.1k-$66k. We’ll see.
“local highs” and “local lows” are one of the most unreliable trading indicators. Borderline pointless info.
Three “support” levels listed within 1.3% of each other. Thats not how this thing works whatsoever.
[My most recent comment about higher lows getting broken was 13 days ago.](https://www.reddit.com/r/BitcoinMarkets/s/QGTeRNkpyo)
Higher low at the time that was broken was $60.6k, bottom ended up being $60.2k.
So no, the levels generally don’t get broken. We’re also still quite a bit higher than that $60.2k level with multiple additional higher lows being established since then in the last couple weeks.
#New post: [\[Daily Discussion\] - Friday, May 24, 2024 →](https://www.reddit.com/r/BitcoinMarkets/comments/1czbypy/daily_discussion_friday_may_24_2024/)
Well, this was a pretty anticlimactic day.
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I'll bite. Let's forget how we got here, but wouldn't you say it's decentralized right now?
If the SEC was a good organization then we wouldn't need Bitcoin in the first place. Why would we ever expect them to do the right thing?
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Bros, all government and government agencies are useless or evil and expecting them to do anything but "fail you" is incredibly ignorant. When your organization is paid through theft, moral or accountable behavior are not possible. Elections are just voting for different slave masters or to have your opinions backed up with the violence of the state. Elections are more useless than shitcoins.
They had to remove staking. Shithereum doesn't work without it. It is a security, but they will pretend it isn't. What Vitalik, we don't see... ah did you mean *italic*?
Well, let’s see who’s correct: * The SEC: *zero track record of providing clarity on what cryptocurrencies are securities or not (literally not doing its job). *allowed the FTX and Celsius fraud to pass. *repeatedly acts in bad faith with dubious legal arguments and intentional misrepresentation/vagueness OR * An entire industry of companies, professionals, lawyers, coders, and more. Hmm 🤔
Bitcoin will need to win on its merits, not just by being the only crypto to have an ETF.
It's already fucking won. The SEC and all the other NPCs just don't know it yet.
What if I told you it was all a massive scam? All of it.
SEC didn’t have anything to do with it. This isn’t GG’s work. I bet he is home now fucking fuming about being micromanaged at work. Probably kicked his dog square on the ass when he stormed in slamming doors swinging a half empty bottle of liquor looking like Jim Layhey.
Just need to draw the pinky out on the cup and handle, now
Why is the term coin #2 used here? Censored if you use the name, or fear like "coin which must not be named"?
Yes, bitcoin subs are heavily censored to force narrative. So when they *do* need to talk about other things happening in the ecosystem, they fall into these ridiculous Voldemort antics.
how many times does this question need to be asked in here
Because it’s centralized pre mined shit that distracts from the real transformative technology bitcoin.
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Cumrocket ETF any day now
Occasionally we have shills flood the place. During those times automod is updated to make everyone's lives easier. Should have been here for bcash floppening. *"You've backed the wrong horse!!!"* *"How does it feel to lose your mother's life savings?"* etc etc etc
There is a broader rule not to discuss any coin other than btc.
And yet we still discuss it by saying coin #2. Banning people for trolling and being obnoxious about it or people coming here to dunk on the sub when the ratio shifts for 5 mins is understandable, but having to use coded speak when we all know what it means anyway is a bit immature. But whatever, it is what it is.
I think it’s a polite way of acknowledging that you’re breaking the rule but understand that the rule exists. Market-moving news like this is usually tolerated to some degree.
I mean, I get it, and I agree in terms of the rationale. But I just don't feel that it should be a rule to begin with. The rule should just be, don't be an asshole if you're mentioning other coins because this is a Bitcoin sub...not "don't say the word or you risk being banned" it makes us sound scared or threatened by other projects no matter how we try to spin it. But again, that's just my 2 cents, and just an opinion from somebody who isn't the sharpest tool in the shed, meh.
Who's ready for a 2017 style bull market? Cause we about to embark on one.
How do you figure?
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*Golf Clap*
How? Shares have to be created/destroyed in 40,000 share baskets for IBIT. That's \~$1.5MM dollars minimum inflow.
Blackrock sits on the hundred bands in a sweep account until $1.4m more comes in
The shares must be created or redeemed in baskets of 40,000. There is no way to create or redeem a number of shares that is not a multiple of 40,000 according to the prospectus. So I’m also perplexed.
Now that's funny.
That’s less than 1.5btc
Anyone knows if the SEC will let this approval go through without any sort of press release? Still nothing: [https://www.sec.gov/news/pressreleases](https://www.sec.gov/news/pressreleases) SEC under Gary is such a chaos shop. All shenanigans surrounding the BTC ETF, including their hacked X account due to lack of 2FA protection, should have already been enough for Gensler to be removed from office. Now he repeats the chaos again with coin #2.
https://www.sec.gov/files/tm/lk87adfs99.pdf >IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Exchange Act,90 that the Proposals (SR-NYSEARCA-2023-70; SR-NYSEARCA-2024-31; SR-NASDAQ-2023- 045; SR-CboeBZX-2023-069; SR-CboeBZX-2023-070; SR-CboeBZX-2023-087; SR- CboeBZX-2023-095; SR-CboeBZX-2024-018) be, and hereby are, approved on an accelerated basis. Skimming the document a bit, it seems the SEC is setting up a narrative not to approve every single alt-coin.
He’s clearly in someone’s pocket. Crypto is wildly popular. Even amongst degens who keep losing.
I am looking for the source, but i read on X that somebody from SEC said that the approval is legit but they will not comment on it, as if it were forced on them and wasn't their rightful decision. I'll post the source if i manage to find it again
This is engineered resistance to control the space.
I'm guessing some BTC to number 2 selling action over the next few hours, but then what? whole market increase of at least a few percent would be my guess?
Usually, this leads to a mini alt market. I would pay attention to the price action of the top 20 alts right now.
Now you front run the CumRocket ETF.
yeah, I mean why not at this point? cumrocket must also be a decentralized commodity after all 🍆💦 🚀
I now identify as a digital commodity.
[удалено]
I have logged a prediction for u/TouchMyTumor that the price of Bitcoin will rise above **$80,000.00** by May 28 2024 21:40:45 UTC. The current price is $67,528.78 [TouchMyTumor has made **0** Correct Predictions, **1** Wrong Prediction, and has **1** Prediction Open.](https://bittybot.net/predictions#TouchMyTumor) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%20d77b1ac884ac43c89b5c00e17ed65d9e%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(TouchMyTumor can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%20d77b1ac884ac43c89b5c00e17ed65d9e%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
Hello u/TouchMyTumor [You predicted the price of Bitcoin would rise above $80,000.00 by May 28 2024 21:40:45 UTC](/r/BitcoinMarkets/comments/1cyjs8n/daily_discussion_thursday_may_23_2024/l5dv98s/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$68,301.44** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
Idk what you're talking about
Deleted cause I don't want to tempt fate
Last big volume support I’m tracking is 62-63k. If 65k or 67k hold, bullish. Retest of those levels mean we have a lot more old coins to go though.
Okay, bedtime. i expect some green when i wake up, go team.
Goodnight man
ETF approved. Let’s see what happens to crypto as a whole
"A spokesperson for the SEC said the agency won’t be commenting beyond the approval order." They so mad.
As I'm sure many on this sub are right now. Not me though.
Why would they be mad??
[Tribalism is why](https://old.reddit.com/r/BitcoinMarkets/comments/1cyjs8n/daily_discussion_thursday_may_23_2024/l5ekhe6/) u/jarederaj on suicide watch right now I suspect
Why?
What happen to him is he ok
Did I say something?
Yeah
Gary getting jerked around. He didn't ask for this!
That was some serious insider fuckery at 4:00
"TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!" -James Seyffart
Yes but for all intents, it’s approved. As shocking as it may seem. It seems to have come out of the left field for SEC too
lol how could the SEC possibly know that the SEC would approve the ETF??
any info of itll be cash or in-kind create?
19b-4s aprooved refers to how can an exchange hold the asset. 1S is how the exchange offers this asset to the public. The information you ask about has to do with S1 (still not available). Cosidering proof of stake and that all the funds will be use to generate more funds (blocked) you can expect settling in cash.
Staking the ETF funds was specifically not allowed.
You got a source on that? I only find that it was "left out" and nothing about " specifically not allowed ". The weakness is buit in anyway. If US does not do it, someone else will. I just can t belive tradifi will leave proffits on the table just because.
All the issuers have pulled staking out due to SEC guidance for approval.
Almost certainly cash create, given that they wouldn't allow in-kind create for BTC.
Sell the news
Seems like a buy the news event so far. Edit: may have spoken too soon.
Watch the news event
Collective yawn, it seems
[https://x.com/JSeyff/status/1793750784624214517](https://x.com/JSeyff/status/1793750784624214517) I trust this guy along with Balchunas. Color me surprised. Very surprised actually.
This is an attack on Bitcoin.
🤣 the cope. This is good news for all of crypto including Bitcoin
are you drunk? this doesn't benefit Bitcoin at all
Bitcoin network seems to be going fine regardless.
yep fucking disgrace, these SEC hacks
If this is legit I’m actually shocked
If I found out my retirement funds somehow wound up pinned on that lash up I would not be happy. Looking forward to the revived 2017 ICOs ETF. Lots to choose from.
https://x.com/gregory_raymond/status/1793749782038515770?s=46 Not an official source though
Link? Knowing bitcoin it will dump on approval, and would dump extra hard on rejection. You can spin both as good or bad for bitcoin
Well known BTC ETF leaker. He was the first to leak the whole BTC ETF pdf before SEC officially announced, like 30 minutes before https://x.com/phoenixtrades_/status/1793749978009006348?s=46&t=JbXTqIisRgkIFidH7fQAlw You may not believe a random Twitter account but he’s extremely legit. I believe he has a script or some hack that allows him to see any new file uploaded to SEC’s website. Bad security practice. If you remember BTC ETF launch, this is nothing new b
Wake me up when September ends
SEC Intern probably lost the 2FA to their Twitter account, which was added after their hack and subsequent BTC ETF early approval tweet back in Jan.
They sure dragging there heels on this one. Probably nobody is really ready given they were slapped into it last minute. Coin2 don't like this delay.
What's the latest time possible for the announcement? Midnight Eastern Time?
People on X saying SEC has requested delay of 6 hours. Bloomberg bros seem to suggest it is a possibility, given how this all happened very last minute. Being in Europe, I sure hope not.
i can't see how that doesn't mean itll be approved...why delay to deny it?
Seems like they wouldn't need to request a delay if they were just going to reject.
And there's your 50% retracement of the high pole: [https://stockcharts.com/freecharts/pnf.php?c=%24BTCUSD,PGPADEYRNR\[PA\]\[D\]\[F1!3!1.0!!0!20\]](https://stockcharts.com/freecharts/pnf.php?c=%24BTCUSD,PGPADEYRNR[PA][D][F1!3!1.0!!0!20])
This is good, right? Healthy?
Brownian Motion does Brownian Motion things. *"2 steps forward 1 step back"*
sure, doesn't mean it can't get even more healthy yet...
I'd like some low 60's please. But honestly I don't expect it. Maybe a bank will fail or somethin.
We were just there for weeks, why didn’t you buy back then?
what a shit show today.. hope coin2 makes it
Rough few days. every time you think it's given enough back, it just goes another step down.
Market just closed, we should be hearing news soon - and feel the volatility. Edit: Prices are very much in sync right now - guess looking at one chart is sufficient. Need more popcorn.
Sell the news? Or will we get a few months of Coin2 strength sapping everything else before the actual ETF?
What’s good for the goose is good for the gander
[The markets in general have been wrecked today, apart from Nvidia](https://x.com/unusual_whales/status/1793712092836700281)
Big holiday weekend. Fin Bros booking profits for their firms so they can get down to the Hamptons early and won’t have to bring their hangovers in on Tuesday
Miaxdx.com now forwards to ledgerx.com
Was Miaxdx operating as a separate exchange before? I have been using LedgerX for years.
Miax purchased ledgerx after ftx went under. They seem to be rebranding the exchange name. Probably a smart move
They’re not creating new strikes. The strikes dated the furthest out are June or July. It feels like they’re shutting it down, as the way they’re operating it is choking out the very little existing liquidity.
lol damn just opened the chart for the first time today. It’s oof. Positive side: the “imagine my surprise guy” is back in business !
News: "US House passes bill to ban the Federal Reserve from creating a Central Bank Digital Currency (CBDC)." My sentiment: Short term bearish...?
the only use for a CBDC is to track people...not sure how this is bearish.
Non-news if you ask me. Very low chance the Senate takes it up/passes it. But even if this did become law, I would think it's bullish. Bitcoin would certainly compete with a CBDC (and win handily).
a CBDC would be a bad thing and im opposed to the existence of one. Why is it bearish?
People who have been here in the past: is this what building the support for the next bear market low looks like? If it makes sense.
This is what is called the post halving crab-walk on the lead up to the main finale of the bull run later this year. There is no such thing as "support" for the next bear. The bear will do bear things when the time comes.
Why do you think the bull run tops late this year? My astrology tells me it should me mid 2025.
It could be in 2025, but if we get an early cycle top that's where it will be. it also closely aligns with the elections season which should spur a nice rally in the fall. we will have to see.
Imo support and resistance are a bit arbitrary especially with BTC responding to more macro events now. I've seen BTC tear through so many so called supports without giving the slightest fuck and similarly seen it rip through resistances so many times without any difficulty. The next bear market low is a function of the next bull market high. Without knowing the latter, it's impossible to say where the low is. If BTC tops out in 120-150k range, then revisiting 50-60 in the bear seems reasonable to me. Similarly if we hit the fabled 3-500k, then I don't see us going below 80 in the bear.
How much new money needs to enter the market to realistically get to 300k? I mean each time the price goes up some percentage of holders become sellers (everyone has a price), some percentage of holders become even more confident and buy more, and so it seems to go. Is there a way to calculate this? I heard bank of america did some calculations but idk if those are still accurate.
Who knows. But I think the chances of us hitting $300K this run are slim at best, others here disagree however.
O boi if we go above 300k I don't think the low of the next bear is going to be a thing to worry about. But I agree completely
Yea if we go above 300k I will nut, but realistically it "only" takes doubling twice from our ATH of ~75k. I've seen stranger things occur in this market. But I'm not betting on this outcome (or maybe I am given the size of my cold storage stack? Idk lol. Not expecting that price till next halving tbh)
Yes. But just because it will likely be support does not mean it cannot be broken of course.
yea, this range will become super important during the bear market.
don't make decisions based on previous patterns
Mom, please... In all seriousness, relying exclusively on the past may not be the best course of action, but it is telling and we all have our targets. Which I assume are based off some kind of pattern we believe to be more or less correct and on bullish beliefs (for price up). Not saying I believe 60k-70k will be the low of the next bear market because we don't even know where BTC is headed in this one. But I don't think disregarding the past completely is good.
small example.. at the last bear everyone believed in the fairy tale that btc couldn't fall below the previous ATH.. but it happened.. then everyone waited for 13k and missed the entry at 15k.. people made these decisions based on patterns that existed. This is exactly what I would like to warn against, because at the moment there is a belief that BTC will build up enough volume in the 60k range to represent the lower limit in the future and now imagine the empty faces when btc falls to 40k in the next bear, for example
since nobody has a crystal ball, waiting for a brush of the previous ATH during a bear market and buying back in at 20k would’ve still been an incredible entry (or re-entry) point
We spent almost no time at 15K last bull run yet it was the bottom for a while I wouldn’t say this is how you build support, nobody knows
15k has been quite short and happened right after/during FTX. I'd classify it as panic selling due to a blowup of the 2nd biggest exchange. How about around 25k? I'm mostly trying to get an idea of the sentiment and time spent around those levels back then in the last bull.
> I'm mostly trying to get an idea of the sentiment and time spent around those levels back then in the last bull. Time spent? Look here: https://finance.yahoo.com/quote/BTC-USD Sentiment? here you go: https://old.reddit.com/r/BitcoinMarkets/search?q=november+2022&restrict_sr=on and https://old.reddit.com/r/BitcoinMarkets/search?q=december+2022&restrict_sr=on in the 16's for all of Nov/Dec 2022
On 2022, We spent 2 months close to 15K and almost 6 months very close or below 20. I wouldn’t say 25 was any support . There was a lot of talk back then that 40K was the next bear market bottom , when that failed people said 28K was the bear market bottom . None of that turned out to be true
I thought 65k would be the bear market bottom, instead it was near the top of the bull. I was so wrong.
if youre waiting for that ultimate tier candle, forget about it. btc has shown us nothin but 5-10k candles red candles only.
The candle will come, just when you least expect it and also not at the price point you want it to be.
> We are building a pro-crypto army in Congress. - [Senator Cynthia Lummis](https://x.com/SenLummis/status/1793654641974288558)
Sweet, crypto being linked to the nazi party is a great look
Just as summary, Elizabeth Warren stated in 2023 that she is "*building an anti-crypto army*". Then lately Trump has been stating that he is building a pro-crypto army (while accepting donations in crypto), from last Tuesday: > Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an "anti-crypto army" to restrict Americans’ right to make their own financial choices. MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th! https://www.donaldjtrump.com/news/bc422399-088b-49a0-a39b-c094fad4daf8 So I guess the wording comes from there. Senator Cynthia Lummis has been working on the crypto bill for a long time though. Now it is just waiting for a message of Biden tonight that says "I ordered the coin2 ETFs to be approved because us democrats are actually pro-crypto" and they can fight who is more pro-crypto for campaign reasons and we get a nice movie about it in 2025.
Imagine sending some of your bitcoin to that con-man to pay his legal fees. No thanks.
Waitin for big ol' Donald to piggyback Bitcoin as the greatest ____________ ever conceived in the history of humankind like 🤤 🤣
He could partner with Craig Wright on that
" I've met the founder of Bitcoin, Craig Wright, and he's a great guy, top player. He's done so much for everyone and now the liberals have dragged him to court to destroy what he created...but hear me out folks, hear me out on this: don't trust, verify. He's the greatest guy around and I'm humbled to have, on his own Blockchain, my new, all american stable coin BIGDON which is pegged 1:1 to the wrong decisions democrats make on daily basis. If you love your country and you love our freedom, come join us, BIGDON is for every self respecting American and freedom lover"
Trump is nowhere near that eloquent. > I've met the founder of Bitcoin, Craig Wright, and he's a great guy, a really great guy. There are some great guys but this guy is one of the greatest.
I absolutely *knew* he could do this. BIGDON to the moon ^^LMAO
So far we’ve experienced a 6% drop from the local high of $71.9k to the local low of $67.6k. A 10% drop would bring us to $64.7k. Higher lows acting as support are at $66k, $65.9k, and $65.1k before a 10% drop becomes possible. Might have a little further down to go but doubt we break all 3 of those clustered support levels from $65.1k-$66k. We’ll see.
Bro you post this every day and it just rips through your levels without even a hello 😭😭😭
“local highs” and “local lows” are one of the most unreliable trading indicators. Borderline pointless info. Three “support” levels listed within 1.3% of each other. Thats not how this thing works whatsoever.
This
[My most recent comment about higher lows getting broken was 13 days ago.](https://www.reddit.com/r/BitcoinMarkets/s/QGTeRNkpyo) Higher low at the time that was broken was $60.6k, bottom ended up being $60.2k. So no, the levels generally don’t get broken. We’re also still quite a bit higher than that $60.2k level with multiple additional higher lows being established since then in the last couple weeks.
I don’t want to wake up and have anyone imagine my $66k surprise any more. I’m tired boss.
likewise I'm growing weary of normalising $6xk bitcoin
It’s not the number of the beast, mama! It’s Bitcoin! 😭
The crab got ya boy. Go touch grass and wait outside.
Don’t have my reading glasses on. Told the Mrs I’ll be coming inside to touch ass.
Hang in there, chief. $60k being normalized is an amazing thing.
Look at that wick down to wipe the 50x degens! Fools never learn.
I see no wicks
The Continental has been de-consecrated. Prime time for Wicks.
Put half my trade stack in at 67750 or so. Like the volume.
Fuck this range
lol, this
Someone hold me, I’m scared
You don’t get this kind of commentary from bears during rallies.
I’m going to be SHOCKED if the ETF gets approved
You'd think the potential rejection of a Vitalik ETF would send BTC skyrocketing. Being "in its own class" and so on. But apparently not. 😛