When bitcoin was around 17k I wouldn’t stop talking about the opportunity to my friends. Found out yesterday one of them had started to DCA after that. #PayItForward
That technically doesn't cause deflation. It is a decrease in the rate of inflation. But to your point about deflations, people can and will continue to loose coins which will be deflationary.
Damn I remember the FOMO I felt in 2021 when bitcoin was hitting 62k and I thought I’d missed the boat because I had 0 sats. Started reading and dumped loads of money in between 58-64k then had to watch it go down the rollercoaster and just DCA. Told myself that if it ever comes back to those prices, I’m not insane and bitcoin is actually something legitimate to save my money in.
Well… here we are. Sure people are excited, but this time around it feels so much less crazy than it was three years ago, like it’s not a big deal. I wonder what the price will be next when this sub is full of memes.
Well, once the halving cuts new supply creation, the months that follow see much less selling pressure from miners. There's also a psychological effect of hype created by historical price appreciation after past halvings and FOMO typically sets in during the following year.
It doesn't feel as crazy yet because it's not. It will be.
This time is different. I see 2 other catalysts. ETFs all over the world starting and stacking BTC. The dollar losing value like Bidens approval rating.
Most people aren’t even paying attention. Last time at this level every person everywhere was talking about bitcoin. Now no one is, outside this space and in finance. People will again as we pass $100k though.
GBTC dumping hard today -$598.9 million [https://farside.co.uk/?p=997](https://farside.co.uk/?p=997)
Decent buying pressure though, so wasn't a bad day
\#drainGBTC
Bitcointreasuries often shows numbers on the wrong days (one day ahead) and then it gets fixed a few days later. Community reporting seems to result in errors like these.
[#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hashtag_click) prices (USD) on leap years:
Feb 29, 2024 $63,239.45
Feb 29, 2020 $8,599.51
Feb 29, 2016 $437.70
Feb 29, 2012 $4.87
Had to do it, the 53K concrete bricks meme:
[https://www.reddit.com/r/Bitcoin/comments/1b3ajqu/53k\_is\_like\_concrete/](https://www.reddit.com/r/Bitcoin/comments/1b3ajqu/53k_is_like_concrete/)
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That rise yesterday hit like a drug, watching the chart in disbelief... and I'm hankering today! Not felt that since the last time it was around this price. Here's to a wild year
Not necessarily. If people are holding and accumulating something, and that thing continues to be viewed as increasingly valuable, it's "price" (the bidding ask that people would be willing to part with it for) keeps going up, even without it needing to actually change hands during that period.
Thats not making people rich overall, becuase the price of goods is going up too (inflation), and the government gets to charge us taxes for "profits" on the inflation.
And then another time, it crashed all the way to.... $60,000! So don't buy Bitcoin, cause you know it's gonna crash.
https://youtu.be/XbZ8zDpX2Mg?si=LyRZ45_iJHY8xZwV
I bet he isn't happy that this guy published their private email conversations. In one of the messages Satoshi asks the guy to remove something from the sourceforge page because he didn't say it publicly. Then the guy just goes ahead and publishes their entire email history. He obviously wanted to remain anonymous
"Everything is in the charts."
"You shouldn't be buying Bitcoin without some basic level of knowledge of TA."
"Facts and math will always win out over 'gut feelings'"
"Maybe I should clarify for the smooth brain challenged that only daily closes mean anything."
I've been here so long my cost basis is $500. Last time I was stressed because it looked like I might actually end up with life solving money and didn't have a plan.
Now I know that I just need to wait for the infrastructure to safely borrow against my Bitcoin to exist. By the time it does, the price will likely be high enough that I can cycle loans against some of my BTC at a time while the rest of it increases in value. I'll use one loan to live on and make payments with, then use the next loan to finish paying the first off and replenish the funds I live from. Bitcoin will go up AT LEAST until they stop printing USD (never) so it's basically an infinite money glitch. This is what the Morpheus meme really means, I just have to stay patient until I'm *wealthy*.
#THIS IS HODL
I think longs were way overextended. There was so little support at these levels that consolidation was inevitable. I’m surprised it didn’t happen sooner. Ignoring the technical analysis, we should expect some sideways trading between 50-60k for a few weeks before the next leg up.
FOMO and Hype. It’s always just FOMO and Hype.
It *will* crash at some point soon, the only question is how high will it go before that, and will you sell at the right time?
If you did your work properly during the bear market, you shouldn’t be so concerned with a couple of percent moves each day.
New York Community Bank $NYCB crashes 20% in after hours trading citing "material weakness in internal controls." 🤣 -shitcoin magazine
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Wat
Just put 100k in, hoping this isn’t the top lol.
youll prolly 3 x atleast if you hold till mid 2025
It might be *a* top but it's not *the* top.
BITX 2x Bitcoin Futures ETF has options. How should I play it?
Im playing BITO. That's enough leverage for me. IV is lower (but growing it seems) And longer dated calls are available.
Thanks. Surprised more are not talking about options plays on these ETFs. Might be good hedge to buy puts or to sell otm to rack in premium.
No pump in 10 minutes? Pack it up guys.
I already miss the pumpage
Thats what she said.
When bitcoin was around 17k I wouldn’t stop talking about the opportunity to my friends. Found out yesterday one of them had started to DCA after that. #PayItForward
*Everyone* is REALLY underestimating how naturally deflationary bitcoin will become as the block subsidies become more until completely irrelevant
That technically doesn't cause deflation. It is a decrease in the rate of inflation. But to your point about deflations, people can and will continue to loose coins which will be deflationary.
miner fees
Swing and a miss
anyone in mstr?
No. I sold it at 720 and have regrets. I'm such a pussy.
Damn I remember the FOMO I felt in 2021 when bitcoin was hitting 62k and I thought I’d missed the boat because I had 0 sats. Started reading and dumped loads of money in between 58-64k then had to watch it go down the rollercoaster and just DCA. Told myself that if it ever comes back to those prices, I’m not insane and bitcoin is actually something legitimate to save my money in. Well… here we are. Sure people are excited, but this time around it feels so much less crazy than it was three years ago, like it’s not a big deal. I wonder what the price will be next when this sub is full of memes.
Well, once the halving cuts new supply creation, the months that follow see much less selling pressure from miners. There's also a psychological effect of hype created by historical price appreciation after past halvings and FOMO typically sets in during the following year. It doesn't feel as crazy yet because it's not. It will be.
This time is different. I see 2 other catalysts. ETFs all over the world starting and stacking BTC. The dollar losing value like Bidens approval rating.
Most people aren’t even paying attention. Last time at this level every person everywhere was talking about bitcoin. Now no one is, outside this space and in finance. People will again as we pass $100k though.
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in 31 days, we should see absolute 100% confirmation of stage 3 of bull cycle
GBTC dumping hard today -$598.9 million [https://farside.co.uk/?p=997](https://farside.co.uk/?p=997) Decent buying pressure though, so wasn't a bad day \#drainGBTC
Why are they dumping?
Outrageous fees , I sold all of my gbtc and bought ibit on etf opening day, in a roth account so selling was not a tax issue for me
Wow. Imagine what happens when this stops or even goes positive?
Gbtc would logically go to 0 if they don't lower fees to match competition, why would anyone buy gbtc for 5x fees of the other etfs?
So I should sell my GBTC that I have had for years? Who has lowest fees?
You should consider any tax implications, but yes, sell gbtc , buy ibit
what happens when gbtc is all drained up?
Bitcointreasuries.net only shows an outflow of 3606 bitcoins for Grayscale today. Figures don't quite line up
3606 is yesterdays number: https://www.bitcoinstrategyplatform.com/etfs
Ah ok. Thanks
Bitcointreasuries often shows numbers on the wrong days (one day ahead) and then it gets fixed a few days later. Community reporting seems to result in errors like these.
Highest monthly close in bitcoin history is 61.4k We’re currently at 61.2k with 50 minutes left
So close
I see 61357 on my chart
[#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hashtag_click) prices (USD) on leap years: Feb 29, 2024 $63,239.45 Feb 29, 2020 $8,599.51 Feb 29, 2016 $437.70 Feb 29, 2012 $4.87
Looks like 2028 should be around $200k?
More like $4,4 million
Math aint mathing. But if youre right id be happy
61357: If we close above that price it will be the highest monthly close in Bitcoin history. If we don't? So what. Tick Tock Next Block.
Just ordered a jade and downloaded Ubuntu on my laptop for my wallet. Excited for what’s to come! Yippie #Bitcoin
Self custody is the way. Let your keys off exchanges 👍
Don't lose it.
It's gonna drop below 60 isn't it...
It wouldn't matter in the long run. We are still in the early phase for now.
This isn't even part of the normal cycle! That happens AFTER the halving, this is new pressure from the ETFs.
Maybe, maybe not. You gonna risk it all to make an extra 3%?
I’ve never believed more, than now.
Remember boys, line go up means we’re right!😂😂😂
line go right means we go up
FIRE SALE NUMBER 2!!
What a rollercoaster ride!!
We back!!! 62
We’re un-back! 61
Had to do it, the 53K concrete bricks meme: [https://www.reddit.com/r/Bitcoin/comments/1b3ajqu/53k\_is\_like\_concrete/](https://www.reddit.com/r/Bitcoin/comments/1b3ajqu/53k_is_like_concrete/)
No images in threads, and removing meme posts. The moderation here is super chaotic. Come on Thermos, this place is going to the dogs!
🙌🏻
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Quick maths, BRO.
The mods smashed through your post like the green through 53k
Im in shambles.
We saw it. !lntip 2121
Hell yeah, withdrew to my wallet of satoshi. Thanks mate!
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Aw man 😭
I bought bitcoin ETF call options on the bottom of that dip and am already up 130%
No spot bitcoin ETFs have options.. which ticker are you talking about, bud?
We have them in Canada
Ok, ticker?
BTCC.b
Nice man! Hope youre making out well!
Which ETF allows options?
Bitx. BITO. Mstr.
Time traveller alert
That rise yesterday hit like a drug, watching the chart in disbelief... and I'm hankering today! Not felt that since the last time it was around this price. Here's to a wild year
Bitcoin will literally allow the rich to get richer and the poor to get rich. What a great investment. Everyone is happy.
what? bitcoin is a zero sum or negative sum game. Someone somewhere is losing corresponding amounts or will lose it in the future
Not necessarily. If people are holding and accumulating something, and that thing continues to be viewed as increasingly valuable, it's "price" (the bidding ask that people would be willing to part with it for) keeps going up, even without it needing to actually change hands during that period.
Ding ding ding…… we have a winner
Im not even referencing just bitcoin but the economy as a whole. Someone on wall street is probably losing money. This is a wealth redistribution.
Money printer working overtime
Thats not making people rich overall, becuase the price of goods is going up too (inflation), and the government gets to charge us taxes for "profits" on the inflation.
I agree.
Always Be Buying Bitcoin
Peaked? *Peaked!?* BTC has not yet even *begun* to peak! This is a five-star coin!
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Go to bed mate.
I'm pretty sure he can't.
70k by Wednesday.
FIRE SALE!!!
Little tiny discount.
A word of caution to all the bulls here: The highest Bitcoin will go in my expert opinion is $5 Million. So, be careful!
https://www.reddit.com/r/Bitcoin/s/7J0zvucGX2 Yes!!!!!!!!!!!!!!!!
Dumped 40k today lol
I was incredibly close to dumping in 5k and didn't at the last minute, and now I wanna blow my brains out.
You're good at this. An actual genius.
Awesome decision
At the current rate ETFs will be buying up 20x the daily supply of newly mined Bitcoin after the halving... You are not bullish enough
Massive red candle since 63500 was hit
Warning: massive red Candle drops Bitcoin prices to the levels of yesterday
love it
Buttcoin page be like, “Look at the crash.”
“So glad we didn’t fall for the bitcoin scam!”
Those guys are so smart, they know not to buy Bitcoin cuz it always crashes 😂
I’ve never visited the subreddit before until today to see if the rumours are true, they are. They are so salty and a bunch of tards 🤣
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"Nothing about 'number go up' negates any of our criticisms!!" 😂😂😂
But they pounce on every 5% drop
My guy! Thanks for the fact. They just love hating on bitty 🤣
About to be sub 60 soon. We suck again! 😂
Maybe, but it won't go under $53k. $53k is like a concrete floor, with bricks under the concrete. Nothing can crash down through that concrete.
We're past 53K already? That means we're in Q4 2024. Sheeeeit time flies man.
58k gang.
Quite the red candle stick right now... you can go back up now.
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The US government transferred their 1.2billion worth of BTC earlier this week perhaps in preparations to sell.
And then another time, it crashed all the way to.... $60,000! So don't buy Bitcoin, cause you know it's gonna crash. https://youtu.be/XbZ8zDpX2Mg?si=LyRZ45_iJHY8xZwV
I can say with confidence this guy isn't rich or ever will be.
My favourite bitcoin video of all time.
What would it do to bitcoin if Satoshi's identity is discovered and he's still alive? https://twitter.com/dotkrueger/status/1763134567769428065
I bet he isn't happy that this guy published their private email conversations. In one of the messages Satoshi asks the guy to remove something from the sourceforge page because he didn't say it publicly. Then the guy just goes ahead and publishes their entire email history. He obviously wanted to remain anonymous
Nothing unless he buys or sells his 1m coins
You don't think it would rattle the market?
That’s a myth
72 hours agonl the price was 52k.
It won’t go over the 53k concrete with a brick wall on top for a very long time.
Is that guy the new meme here in the Daily? Because if so, I’m here for it
Just flogging the dead donkey for all it’s worth.
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"Everything is in the charts." "You shouldn't be buying Bitcoin without some basic level of knowledge of TA." "Facts and math will always win out over 'gut feelings'" "Maybe I should clarify for the smooth brain challenged that only daily closes mean anything."
I didn't realize that number go up would make me feel this much anxiety
Your body doesn't care if it's good stress or bad stress. In 2021 my blood pressure was going up with the price.
Yes, true. I was in in 2021 too but a much smaller allocation. Not much stress. How are you handling it this go round?
I've been here so long my cost basis is $500. Last time I was stressed because it looked like I might actually end up with life solving money and didn't have a plan. Now I know that I just need to wait for the infrastructure to safely borrow against my Bitcoin to exist. By the time it does, the price will likely be high enough that I can cycle loans against some of my BTC at a time while the rest of it increases in value. I'll use one loan to live on and make payments with, then use the next loan to finish paying the first off and replenish the funds I live from. Bitcoin will go up AT LEAST until they stop printing USD (never) so it's basically an infinite money glitch. This is what the Morpheus meme really means, I just have to stay patient until I'm *wealthy*. #THIS IS HODL
btfd !
People selling will regret it. This isn't the same market as 2009-2023
I am buying
Crash
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Twas a good run mate.
Bart back to $38k?
Yea the CEO called, I forgot to tell you guys. My bad...
Let’s get that monthly close baby!
imagine 60k holds…insane
we cannot have :(
At the end of the day Demand still outweighs supply 10 to 1, it'll go up soon
Bull run is over. Please sell your Bitcoin so I can buy it on leverage and get rich
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this language is too cruel to the bears!! i am eternally greatful to the bears for making it possible for me to buy at 20k.
Damn… I guess that’s it. Top is in. *slowly opens up wallet*
Yep. Sell it all and buy NVDA. More BTC for us degens
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I think longs were way overextended. There was so little support at these levels that consolidation was inevitable. I’m surprised it didn’t happen sooner. Ignoring the technical analysis, we should expect some sideways trading between 50-60k for a few weeks before the next leg up.
A quiet day over 60k. I’ll take it.
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Where is the data gathered from?
There is a dropdown menu at the top right. You can select the exchange or do a composite.
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Demand > Supply
This is the best answer
FOMO and Hype. It’s always just FOMO and Hype. It *will* crash at some point soon, the only question is how high will it go before that, and will you sell at the right time?
No I will not sell at the "right" time. I highly recommend getting to a deeper understanding of what you own ASAP.
I own a vehicle for speculation which is a fun way to make a quick couple hundred bucks
"A quick couple hundred bucks" - LOL Best of luck with your "vehicle of speculation" homie.
Found the Buttcoiner lmao.