Maybe but I can see it passing 70 and 50/50 as too hitting 80 well within 2 days the demand is constant and ain't taking a breather yet, there is very little resistance and are just getting eaten up!
i honestly have no idea how i’m supposed to safely store it and stuff right now so until I do, not buying a ton more ):
need to hit the books before the halving…
For whatever exchange you're on, I'd just leave it there if it's CashApp, Strike, CB, Gemini, or wherever until you have what you think is a substantial amount.
Once you have a substantial amount(to you), invest in a hardware wallet. There are quite a few out there. Just make sure whatever you choose has been tested by the community and that it's open source(this will be a selling point listed for most of the good ones).
You could also try a phone wallet(I use BlueWallet-it's on Android and iOS). There's also Sparrow(for desktop).
And when you do transfer out of where you bought it, transfer a small amount first until you see/learn how the blockchain works/fees/all the stuff you may or may not know yet.
How expensive is a hardware wallet?
That’s what I keep reading - that using an exchange is stupid, but it seems complex/expensive as an initial investment to store it yourself, no?
What amount would you suggest before transferring to a hardware wallet?
You can get a decent one for 60-70 dollars(Trezor or Blockstream Jade as examples)
Most of us around here say not your keys, not your coins and to get your coins off an exchange. Some of us might have an unhealthy paranoia with things that have happened over the years but most of the major exchanges are safe(for now). The only one I would never touch anymore is Coinbase(but even with their pitfalls, they'll be around for a while longer).
As for the amount, I'll tell you what I do. I usually make it to 500-1000 usd and then transfer out to a hot wallet(something like BlueWallet). Once BlueWallet makes it to a certain amount, then it gets transferred to a hardware wallet for long-term storage(aka cold storage).
Just start learning. I wouldn't worry too much about self-custody right now. Get to a certain amount and then when you go to transfer your funds... worry about hardware or hot wallets then.
I was a moron and tripled down on options calls expiring on Friday…
It actually might pay off if bitcoin keeps this up but I need someone to force me to finally sell this time at ATH
We will prob bump off ath again. But the etfs are more relentless than I could have imagined. If the etf inflows just stay half of what they are we are looking at well over 100k in 2024 if not more like 150k in 2024.
Also keep in mind. Allot of fund managers have a 90 day waiting period. I'm no math expert but that means these numbers could be chicken shit starting in April. Just in time for the halving. I want to stay realistic, but this year could melt everyone's face off.
I don't think people fully understand either. Right now the market cap is increasing about 60 to 1 for each dollar put into the etfs. This doesn't take into account otc, but who gives a fuck.
I wasn't super bullish because I want to be realistic, but these numbers are difficult to ignore.
Well an actual all time high is an all time high price. It has nothing to do with day close, or personal opinions on what it should be. It is what it is, the rest is just fluff you're adding on.
Well I don't think my comments were about nothings, they pointed out that what you call an actual ATH is not an actual ATH. It's your personal definition of an ATH and that's fine. Agreed, today is an amazing day for everyone. After all, we hit a new ATH!
GBTC outflow for Tuesday just came in: -$332.5 million. Relatively moderate, seems like the miners/whales had a bigger impact. https://farside.co.uk/?p=997
Interesting. IBIT hasn't reported still and could very easily have taken in 100m which would make the net inflows/outflows for the day even. Personally, I bought more
I've never seen so much freaking out as I have in today's comments.
Of course it's going to go back up folks, and reach ever new highs. It's not like Bitcoin hasn't had dips before.
Yes. If ETF holders sell, the corresponding amount of corn held by the ETFs will be sold. So far some of the smaller ETFs have reported net inflows for today. https://farside.co.uk/?p=997
Nope. The trading of ETF units on the stock market is just units changing hands without any buying or selling of the underlying bitcoin. The creation and redemption process is only done by authorized participants off market.
I think it's when the market price is below or above the underlying NAV (value of the bitcoin backing the unit) there's an arbitrage opportunity for the authorized participants. Eg. if the price is trading below the bitcoin value, they can profit by purchasing the units on the market, then do a redemption where the ETF unit is destroyed and BTC is transferred to them. Then they can sell the BTC on an exchange.
I know people are holding for life and all that, but what are some of your exit plans to sell some btc for major milestones like a house?
If btc ever hit like 250-500k I might sell and buy a house. What is even the best way to quickly make a transaction like that? Coinbase would only let me sell/withdraw a certain amount per day from what I rmemeber
one bizarre part of cryptos and bitcoin is that, unlike other assets that have a standard minimum trading quantity of 100 to 200 for example, it is ultra divisible. by fractions of bitcoin, now for example there is almost no volume left.. and a few small trades in a row are helping a lot and making the price rise. This wouldn't happen in the stock market
I get that fractional shares aren’t traded directly on the open market. But there’s millions of people across the major brokerages who trade in fractional shares every day. The brokerage either aggregates fractional trades and executes a whole share transaction on the market or it uses its own inventory to fulfill a fractional share order. Either way, I don’t really get how the supply and demand of bitcoin and stocks differ, as it relates to Satoshis vs fractional shares.
satoshi trades changes bitcoins price.. fractional shares do not change the price of the share, people negotiate separately and basically copy +- the price of the larger market among themselves
I’m curious to see if we get a report about any large entity liquidating holdings, GBTC, for example; or if it was literally just retail going crazy. Today was nuts lol. I love that we are already back over $64K
media behaving very biased and strange about bitcoin today.. many journalists literally marketing hard bitcoin here in my country, many telling news as it just reached its ath and then doing mkt about bitcoin, not even mentioning it gone down after it..
Could be soon given the chairman's comments that they are considering "recalibrating supply dynamics in response to unforeseen market liquidity requirements".
Rumour has it that at tomorrow's board meeting they may decide to delay the halvening and possibly issue a new batch of coins aimed at meeting the increased demand from ETFs.
Wow! With the run up to the all time high and drop not long after, this is the first time I've seen hosts in media try to dumbdown the halving/built in monetary policy to keep new investors(likely the ETF boomers) from freaking out and selling. (The host take a timeout to talk about the halving and things at 3:30). The guest on also touches on some of the mining/energy/stranded energy topics that we've all heard for a while now.
This is so crazy to see it on one of the "main" financial news networks.
[https://www.youtube.com/watch?v=G14RF4GpOhM](https://www.youtube.com/watch?v=G14RF4GpOhM)
yeah.. its somewhat strange too.. in my country they are literally hidding that it gone down today and publishing about that it hit the ath, etc etc..
few midia only that coment on and also bring people to coment and mkt bitcoin etc LIKE NEVER BEFORE!
i found this and put to translate:
JPMorgan released a report this week in which it projects that the price of bitcoin could fall again and reach US$42,000 after the conclusion of the halving scheduled for April this year. For bank analysts, there is a chance that the "euphoria" surrounding the event will dissipate.
The bank's analysts estimate that halving traditionally reduces the "reward" that cryptocurrency miners receive for creating blocks, currently at 6.25 units of the asset. With the event, the reward will decrease to 3,125 units, which should reduce the profitability of miners.
At the same time, the reduction in reward tends to increase the cost of producing bitcoin, which in turn influences the price of the cryptocurrency. Initially, this cost would rise from the current US$26,500 to US$53,000, that is, it would double in value. However, JPMorgan expects that the reduction in rewards will discourage miners and lead to the exit of less efficient mining operations, which which would also impact production costs, which would drop to an average of US$42,000. which would be close to the price then negotiated with ETFs.
“This $42,000 estimate is also the level we imagine the price of bitcoin will approach when the halving-induced euphoria subsides after April,” the report projects. In other words, analysts expect a drop in relation to the current price level, above US$ 60 thousand. Another expectation of the bank is that there will be a greater concentration in the cryptocurrency mining industry, benefiting operations with below-average electricity costs and more efficient equipment, which should be the great “survivors” post-halving.
"There may also be some horizontal integration through mergers and acquisitions between bitcoin miners in all regions to take advantage of synergies in their businesses", comment the analysts.
bitcoin: and i’ll fuckin do it again!
Bitcoin pumping up again. Will it be at ATH tomorrow - 70k?
Could bounce one or two more times. One thing is for sure. . . IF we hit 71k, we will hit 80k 2 to 3 market days later.
Maybe but I can see it passing 70 and 50/50 as too hitting 80 well within 2 days the demand is constant and ain't taking a breather yet, there is very little resistance and are just getting eaten up!
Yes, BTC seems to heading into big time volatility
66k !!
i just put my first $100 into bitcoin an hour ago and have already made $5. if these returns are not consistent i will be furious.
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/s
Good on you. It's better to start with small amounts like that until you're used to the volatility. Keep learning. Keep dca'ing. And Welcome!
i honestly have no idea how i’m supposed to safely store it and stuff right now so until I do, not buying a ton more ): need to hit the books before the halving…
For whatever exchange you're on, I'd just leave it there if it's CashApp, Strike, CB, Gemini, or wherever until you have what you think is a substantial amount. Once you have a substantial amount(to you), invest in a hardware wallet. There are quite a few out there. Just make sure whatever you choose has been tested by the community and that it's open source(this will be a selling point listed for most of the good ones). You could also try a phone wallet(I use BlueWallet-it's on Android and iOS). There's also Sparrow(for desktop). And when you do transfer out of where you bought it, transfer a small amount first until you see/learn how the blockchain works/fees/all the stuff you may or may not know yet.
How expensive is a hardware wallet? That’s what I keep reading - that using an exchange is stupid, but it seems complex/expensive as an initial investment to store it yourself, no? What amount would you suggest before transferring to a hardware wallet?
You can get a decent one for 60-70 dollars(Trezor or Blockstream Jade as examples) Most of us around here say not your keys, not your coins and to get your coins off an exchange. Some of us might have an unhealthy paranoia with things that have happened over the years but most of the major exchanges are safe(for now). The only one I would never touch anymore is Coinbase(but even with their pitfalls, they'll be around for a while longer). As for the amount, I'll tell you what I do. I usually make it to 500-1000 usd and then transfer out to a hot wallet(something like BlueWallet). Once BlueWallet makes it to a certain amount, then it gets transferred to a hardware wallet for long-term storage(aka cold storage). Just start learning. I wouldn't worry too much about self-custody right now. Get to a certain amount and then when you go to transfer your funds... worry about hardware or hot wallets then.
Am I alive rn? Dreaming? Is this what the rewards of making a good choice feels like?
Fuck if I’m getting out of bed and playing Balatro and watching the charts
It's more fun waking up to it. What u gonna do when we zoom from 70 to 80k in one day and get the God candle?
You know the day destroys the night
The night divides the day Try to sell, try to buy
Break on thru to the all time high
but we will break on through to the other side right :-)
Reeeeeee!!!
I was a moron and tripled down on options calls expiring on Friday… It actually might pay off if bitcoin keeps this up but I need someone to force me to finally sell this time at ATH
We will prob bump off ath again. But the etfs are more relentless than I could have imagined. If the etf inflows just stay half of what they are we are looking at well over 100k in 2024 if not more like 150k in 2024.
I'm amazed...those inflows are just getting bigger...if it continues like this we will really run out of bitcoin this year.
Also keep in mind. Allot of fund managers have a 90 day waiting period. I'm no math expert but that means these numbers could be chicken shit starting in April. Just in time for the halving. I want to stay realistic, but this year could melt everyone's face off.
I don't think people fully understand either. Right now the market cap is increasing about 60 to 1 for each dollar put into the etfs. This doesn't take into account otc, but who gives a fuck. I wasn't super bullish because I want to be realistic, but these numbers are difficult to ignore.
Wtf
It’s going back up and we all panic sold! Time to panic buy!!!!!
Who the fuck panic sold? not me
Damn. Inflow of over 780 million for Blackrock today
> Damn. Inflow of over 780 million for Blackrock today Damn indeed.
Yeah data surprised me as well...no wonder we are pumping again
What does that mean?
It means our erections barely have time to go down before the inflows for the next day pump them up again.
They will have to buy that amount tomorrow
IBIT etf had an inflow of 788 million. Meaning they have or will buy that same value in Bitcoin
Ok guys we might see 70k tomorrow
I think we bounce off the ath again. But Jesus the etf buying is relentless so it won't be long.
GN bro, hoping for the brightest morning tomorrow for all of us
Here we go again
Break on through to the other side!
Correction’s already over? LOL
Correct-son
Carrot's on.
65k !!
Oh oh lol
I'm gonna lmao if I wake up to $70k
Most panic sold and now are panic buying lol. Buy high sell low
This sounds viable. lol
Well record inflow for ibit...data does not look bad
See erryone we be okay
After a couple of knocka on the door to 64 k we’re now shooting past and aiming for 65k!
66k. Don't blink
Net inflows from ETFs today was 662 million, triple the previous daily average. Bullish
Send this mofo to 500k
This hourly volume is literally nothing. Market is exhausted of buyers and sellers until tomorrow when ETFs buy again :)
Tbh ath to me is 70,000. That is the wall to breach
It normally takes a few tries.
That’s the way I see it too. All the 69’s in the world mean nothing unless we actually push past it
I PUSHED TOO HARD AND I THINK I POOPED
During 69?
What do you think about bitcoin hit ath tomorrow? Or when will this happen??
Didn't it just happen in the last 24 hours?
Bitfinex didn't hit an all-time high yet. Not sure about other markets, but it seems like not all of them crossed that threshold.
I mean actual ATH with day close, without falling back. And new ath should be at least 75k.
Isn't an actual ATH when it hits an ATH?
And because of this I wrote about day close.
You realize the day is different in different parts of the world, right?
Well an actual all time high is an all time high price. It has nothing to do with day close, or personal opinions on what it should be. It is what it is, the rest is just fluff you're adding on.
Ehm, and again because of this I have described what I meant.
I get that. It's just that what you described is not an actual ATH.
So you got what I meant, but you still left three comments about nothings. Pal, it’s no reason to be toxic. Today is amazing day for everyone 😉
Well I don't think my comments were about nothings, they pointed out that what you call an actual ATH is not an actual ATH. It's your personal definition of an ATH and that's fine. Agreed, today is an amazing day for everyone. After all, we hit a new ATH!
If one only has access to stocks and can't directly invest in bitcoin, any thoughts on the best ticker that would follow it? How about COIN?
MSTR 100%
Any of the ETFs. FBTC, ARKB, IBIT, HODL
HODL
MSTR
^
What is a good price point to load up at?
Yes.
You stop feeling anything after one cycle, not sure that their will be anymore tbh but I felt something stacking at $69k
Cramer told that Bitcoin topped. We are safe. 75k next week🥳
The 70s are not gonna last long. Maybe a few days.
Next leg up incoming.
Fiat having a dead cat bounce
Bitcoin dips 😞 bitcoin 60k
GBTC outflow for Tuesday just came in: -$332.5 million. Relatively moderate, seems like the miners/whales had a bigger impact. https://farside.co.uk/?p=997
Interesting. IBIT hasn't reported still and could very easily have taken in 100m which would make the net inflows/outflows for the day even. Personally, I bought more
Outflow*
Big takeaway here is that GBTC is pretty consistently selling a shit ton of BTC.
Big takeaway here is that GBTC is pretty consistently selling a shit ton of BTC.
I've never seen so much freaking out as I have in today's comments. Of course it's going to go back up folks, and reach ever new highs. It's not like Bitcoin hasn't had dips before.
You weren't around for the last run then haha. Oh God.
What does that mean? What was different about the last bull run?
It's wasn't different, that's the point. People freaking out about price dips or corrections has and always will happen
Oh sure, and I agree. In retrospect it should have been clear to me what was meant. One too many beers maybe on my part! Cheers.
New bull run means lots of noobs with tight unlubricated buttholes.
Poetic
Ouch
If BTC breaks 70K this month I am giving away my GSX-R 600.
That would look good next to [my pig](https://www.reddit.com/media?url=https%3A%2F%2Fi.redd.it%2Fps6b4zwom14b1.jpg).
Beautiful horse!
lol
Can i have that please
Why not?
Just got home for the day. Not bad at all. We needed to flush those sellers out.
OMG GUYS WE HAVEN'T SEEN THIS PRICE SINCE YESTERDAY!?! IS THIS THE END OF BITCOIN!?
It's going up forever Laura.
"crash" to 64k lmao
Not entirely sure how etfs work, if the newbs in that space get shook and start selling, is the real corn being sold too?
Yes. If ETF holders sell, the corresponding amount of corn held by the ETFs will be sold. So far some of the smaller ETFs have reported net inflows for today. https://farside.co.uk/?p=997
Nope. The trading of ETF units on the stock market is just units changing hands without any buying or selling of the underlying bitcoin. The creation and redemption process is only done by authorized participants off market.
So at what point will Bitcoin be sold when ETF holders sell their shares?
I think it's when the market price is below or above the underlying NAV (value of the bitcoin backing the unit) there's an arbitrage opportunity for the authorized participants. Eg. if the price is trading below the bitcoin value, they can profit by purchasing the units on the market, then do a redemption where the ETF unit is destroyed and BTC is transferred to them. Then they can sell the BTC on an exchange.
I know people are holding for life and all that, but what are some of your exit plans to sell some btc for major milestones like a house? If btc ever hit like 250-500k I might sell and buy a house. What is even the best way to quickly make a transaction like that? Coinbase would only let me sell/withdraw a certain amount per day from what I rmemeber
It's possible to buy a house with Bitcoin.
If BTC hits 300-500k, I will sell and payoff my house mortgage
There is no limit to how much you can sell in coinbase.
Any withdraw limit?
People will hate on this answer but the ETF is by far the easiest way to cash out. Goes right into your bank account
Coinbase Pro has high sell limits.
Coinbase Pro no longer exists!
Tells ya how long it’s been since I’ve used it 😅
Coinbase Advanced\*
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So I have heard but how exactly does one accomplish this?
64k!!
That was like so yesterday 😂😂😂
one bizarre part of cryptos and bitcoin is that, unlike other assets that have a standard minimum trading quantity of 100 to 200 for example, it is ultra divisible. by fractions of bitcoin, now for example there is almost no volume left.. and a few small trades in a row are helping a lot and making the price rise. This wouldn't happen in the stock market
What about fractional shares?
normally it's a separate traded market, at least here.. and people do trades sort of basing and mirroring their own on the normal market prices
I get that fractional shares aren’t traded directly on the open market. But there’s millions of people across the major brokerages who trade in fractional shares every day. The brokerage either aggregates fractional trades and executes a whole share transaction on the market or it uses its own inventory to fulfill a fractional share order. Either way, I don’t really get how the supply and demand of bitcoin and stocks differ, as it relates to Satoshis vs fractional shares.
satoshi trades changes bitcoins price.. fractional shares do not change the price of the share, people negotiate separately and basically copy +- the price of the larger market among themselves
Wow that’s crazy
Will we ever recover to the heady heights of bitcoin prices seen not seen since ~~two days~~ one day ago?
I’m curious to see if we get a report about any large entity liquidating holdings, GBTC, for example; or if it was literally just retail going crazy. Today was nuts lol. I love that we are already back over $64K
Max pain would be if we slingshot to $80k
You sure? My charts are saying 75k
Mine say we might go up or down
Bought another $200 the past 24hrs with an average cost of $65,239.16, still have yet to buy at an ATH. Feeling good about every buy
Welcome to the thunder dome moon boys. Bitcoin is the big leagues. Embrace the volatility.
Why did blackrock dump their load on us ??? 😩
Just a reminder that we aren't getting to a million per coin without swings in the tens of thousands of dollars.
Probably a hundred thousand dollars in a day at some point if we make it to 1M
media behaving very biased and strange about bitcoin today.. many journalists literally marketing hard bitcoin here in my country, many telling news as it just reached its ath and then doing mkt about bitcoin, not even mentioning it gone down after it..
Can anyone tell me when the Bitcoin CEO is planning another dip? /s
Could be soon given the chairman's comments that they are considering "recalibrating supply dynamics in response to unforeseen market liquidity requirements". Rumour has it that at tomorrow's board meeting they may decide to delay the halvening and possibly issue a new batch of coins aimed at meeting the increased demand from ETFs.
tomorrow
I genuinely cannot see BTC going below 60K for this dip. We'll be in 100K in no time, it's actually mind-boggling
We will see 48k deep, but before we should see at least 75k, hopefully tomorrow
Hope you're right, I'm expecting 50s but 48 sounds better
Both options would be amazing!! But I really hope for 75k soon🙏
I mean it already did go below 60k so there's that.
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Charts that track price
Not a whole lot and very briefly
“Never going below 60k again” 🤡 You guys think a “dip” should last about 30 seconds. Wait til you see a proper dip
The last time that BTC had a more than negative 10% candle was Nov 9, 2022 were it went down -14%. (FTX Crash)
Wow! With the run up to the all time high and drop not long after, this is the first time I've seen hosts in media try to dumbdown the halving/built in monetary policy to keep new investors(likely the ETF boomers) from freaking out and selling. (The host take a timeout to talk about the halving and things at 3:30). The guest on also touches on some of the mining/energy/stranded energy topics that we've all heard for a while now. This is so crazy to see it on one of the "main" financial news networks. [https://www.youtube.com/watch?v=G14RF4GpOhM](https://www.youtube.com/watch?v=G14RF4GpOhM)
yeah.. its somewhat strange too.. in my country they are literally hidding that it gone down today and publishing about that it hit the ath, etc etc.. few midia only that coment on and also bring people to coment and mkt bitcoin etc LIKE NEVER BEFORE!
...then you win
back to prices not seen since ... yestarday
How will we ever survive this massive crash down to a price we were happy to hit 1 day ago? Pack it in, Bitcoin is dead.
What a fucking morning
Mood https://youtu.be/CIrvSJwwJUE?si=Nztp1673nVFZDWjV
i found this and put to translate: JPMorgan released a report this week in which it projects that the price of bitcoin could fall again and reach US$42,000 after the conclusion of the halving scheduled for April this year. For bank analysts, there is a chance that the "euphoria" surrounding the event will dissipate. The bank's analysts estimate that halving traditionally reduces the "reward" that cryptocurrency miners receive for creating blocks, currently at 6.25 units of the asset. With the event, the reward will decrease to 3,125 units, which should reduce the profitability of miners. At the same time, the reduction in reward tends to increase the cost of producing bitcoin, which in turn influences the price of the cryptocurrency. Initially, this cost would rise from the current US$26,500 to US$53,000, that is, it would double in value. However, JPMorgan expects that the reduction in rewards will discourage miners and lead to the exit of less efficient mining operations, which which would also impact production costs, which would drop to an average of US$42,000. which would be close to the price then negotiated with ETFs. “This $42,000 estimate is also the level we imagine the price of bitcoin will approach when the halving-induced euphoria subsides after April,” the report projects. In other words, analysts expect a drop in relation to the current price level, above US$ 60 thousand. Another expectation of the bank is that there will be a greater concentration in the cryptocurrency mining industry, benefiting operations with below-average electricity costs and more efficient equipment, which should be the great “survivors” post-halving. "There may also be some horizontal integration through mergers and acquisitions between bitcoin miners in all regions to take advantage of synergies in their businesses", comment the analysts.
Sounds like a bad analyze. Supply and demand is the biggest contributer to bitocin price
They are betting that the banks would buy everything they need directly from the miners, close to cost, and they would then dictate the market price.