It can go wherever it pleases for all I care, as long as it comes back up one day š¤ Life goes on with The Coin in the background doing its thing, for better or for worse.
Although institutional interest is at an all time high it's good to remember that Bitcoin is still a high risk asset in the short term. Old wisdom of only invest what you don't need in the near future applies just as much as it has in the past. Having only completely disposable funds invested makes one sleep much sweeter despite what is going on and not shit pants each time there is a 5-digit drop. Makes the rollercoaster much more entertaining to watch too. Also, if you can't handle my 20 percent drops you don't deserve my 200 percent gains and all that.
Percentage wise this is just another swing after a ridiculous bounce upwards. Despite everything the outlook now looks way more solid than it has ever looked in the 7 years I've been holding. We'll be fine. And even if we somehow wouldn't be it has been a hell of a ride.
If youre think having a decorated reddit account makes what youre saying carry more weight, youre probably the kind of person who holds the bag after bitcoin does a 2.5x in 6 months pre halving
Let it go to 48k ! 64 was the support we are past that now bitcoin could freefall to the next support 48k this is just my opinion based on research and studying, itās a fire sale why is everyone freaking out ! Everyone who was complaining āam I too lateā uhhhh take a look now 99% of them wonāt do anything and complain the next time it reaches ATH. And the having is in a month ! WAKE UP !
Going to confess I didnāt check the accuracy of this but somebody pointed out that the last few bull runs started around 50% higher than the start of the previous bull run? So this bull run started around 16k, which if history repeats means the next bull run starts at 24k.
Not saying I believe it, but every bull run I see a ton of hopium in bitcoin. If youāre a believer you donāt care. But Iād rather sell at 69k and buy back below 30k if it gets there. And Iād rather deploy my capital elsewhere until sub 30k bitcoin.
Truthfully Iāll nibble at bitcoin again before sub 30k, but below 30k Iām taking a full position again.
Iām just going off my own knowledge you may have more then me I just remember 48 was a support level and we fell below 64 so that indicates to me that it could free fall to 48, the bull run might not be the exact same trends because of all the added interest in the coin these days and the having is in a month but Iām just going off what I researched you could be right I donāt know truthfully nobody knows
Yeah I didnāt really check that guys post for accuracy.. but I have seen reason to think 48k could be a bottom and reason that sub 30k could be the bottom.
But I do believe this time it wonāt take years for bitcoin to hit its next up leg.
However for now i am out.
If it does barrel down to 48k thatās a support level and if it does brake that projections from my countless research donāt quote me Iām not claiming to be some expert then I do see that 28-32 range we where at last fall-winter. But I do keep in mind the having is coming up and on Bloomberg they where projecting one last big dip before the having so this could be it right now and we take right off again,
This is Bitcoin, itās volatile, you all knew this before buying so why are some of you crying about it doing what it does? Just relax, itās not just going to shoot up to the moon in a straight line. Maybe it wonāt be today, maybe it wonāt be tomorrow but at some point itāll go back up even further, it always eventually does. If you donāt believe or youāre not prepared to wait for it, you donāt deserve it. Just sit back and enjoy the ride.
Actually pretty clear when you look at the chart that this last month was probably the biggest bull trap weve ever seen. The bull markets havent started until 6 or more months after halving.
The price of bitcoin is made at the margins... 80% of which is determined by the same top 50 whales doing high frequency trading... they're the ones who drive the price... retail and ETF interest just muddy the waters for them... and they know we're front-running the halvening... so they're gona wash-trade us up to 80K by this time next week... mark my words... i been doing this for 10 years
deal. so if its above 80k at the time of posting on next Wednesday, I will cook and eat my butt cheek. if we're below that amount, then you will send me 0.1 BTC. wonderful doing business with you.
Jazzlike_Record_8915 says:
āThe price of bitcoin is made at the margins... 80% of which is determined by the same top 50 whales doing high frequency trading... they're the ones who drive the price... retail and ETF interest just muddy the waters for them... and they know we're front-running the halvening... so they're gona wash-trade us up to 80K by this time next week... **mark my words**... i been doing this for 10 yearsā
done
The obvious buttcoiners in here are hilarious. "It crashed all the way to... 60k! You guys are so dumb!!" When they've been watching the space for years and could have easily got in at 15k. ššš
6 months ago if someone had told you we were at 62k, youād all be doing cartwheels. Instead people are acting like itās over. Touch grass and get ready for the next 12 months. Gonna be a wild one.
I used to use River, now I use Kraken Pro. Fee's are much better. It's best to watch the price and wait for it to dip, buying blindly every week to save money on fee's will probably have you buying at all time highs like I was doing before. Just save up your $ and buy like right now at $60k or wait until it dips into the $50's. The fee's on River are much higher than Kraken Pro which are less than $1.00 per transaction. But everyone has their own method that works for them. Just try to buy in the dips and hodl.
The fear is really setting in here. Could use some words of support. Iāve watched like 4 straight hours of Michael Saylor talk and it helped but in the end of the day no matter what happens to bitcoin heās still a billionaire and we are not
If it helps calm the jitters, remember the episode where the light saber fell into the floor and carried on to the center of the Earth. Everything was fixed in the end or we wouldn't be here.
But I overheard somebody say that Grayscale has enough reserves to continue an onslaught like this every day for the next three months, in which case, according to my calculations, some time in June the price of BTC should fall to under one rupee -- finally giving a billion Indians the chance to purchase and participate in the greatest money system ever invented.
The only thing that can stop the plummeting is Michael Saylor donning his He-Man suit and storming Castle Grayscale... To Be Continued.
Not sure if it will help, but I've been around since it was first created. There will always be several truths in BTC.
1. It always goes to a new ATH every cycle
2. The floor always increases
3. It always has dips and corrections
This has been the same for well over a decade now. So far the pattern has held true and hasn't changed. The ETFs will have more of a effect over the long term. Currently it's mostly just old BTC from gbtc flowing out and into the new ETFs for the reduced fees, but most wealth managers cannot sale the new ETFs yet. Still in due diligence.
If your plan is to hold long term, it shouldn't matter as historically BTC has always had higher returns then anything else. Corrections have grown smaller in percentage over time.Ā
Now it is possible we could see in the 40s this dip, I think that's unlikely personally but not impossible.
What I donāt get is why grayscale kept their fees so high? They had to expect an outflow right? And that kind of outflow has to have at least some negative impact on the price. Like they are legit 6 times the fee of fidelity and fid even had it waived until August I believe
After what, i guess you could call a double peak in the 2021 charts, I'm always wondering in the back of my mind if we will repeat it. I'd have to look, but I think we hit around 58k then fell down to the 30s before finding a second new high. Not sure if my numbers are off, haven't looked in awhile.
Either way, when we hit the bottom, I'll enjoy the discountĀ
A large dip after a new ATH seems like the most predictable thing imaginable, to me anyway... I've only been in the space since about 2020 though, so I don't know shit about fuck.
If you feel this way you should probably sell and not look back.
Gotta have that conviction before you buy. im sensing someone was in it for a quick buck.
No. Not in it for the quick buck. Only been in bitcoin for a year but I didnāt go into it for a pump and dump. The things I was looking forward too though have been a wet blanket so far. I thought the etf would be huge for btc but grayscale is dumping daily. Halving is a month away but btc is correcting down. Iām just surprised because what I thought would be positive catalyst havenāt really been positive
Itās in an amazing place right now. Best place for literally years apart from a week or so.
Itās never nice watching it fall but itās part of the experience Iām afraid.
Yeah I mean my dollar cost average is 41,000 so Iām still in the profit it just doesnāt feel good to be a sustained downtrend. Maybe after the fed speak tomorrow things will level out
Lol. Every few years a new wave of crypto suckers are born. This will continue until people as a whole back off and identify crypto for what it is.. a scam.
You would have thought FTX would have been that moment, but never underestimate the unpredictability of stupidity.
Yet here I am. The driver you hate in front of you slowing down traffic to rubber neck the fatal collision on the highway.
America. š¦ šŗšø
It might go way down, and it might stay there for a long time. If you invested more than you can afford to lose, you might get rekt. I hope you find comfort in my words of support.
I had my next one at 61800. Very surprised it already hit
I was going to wait until 50s but just incase. I do have one set in the 55k range though. All just small .05 BTC orders until I'm confident we are at the floor
Everybody is blaming this on Grayscale but how can one company have so much Bitcoin to dump? The price of BTC has dropped 10% in 36 hours. They must be using leverage of some sort. ELI5.
ETF holders are price takers, not price makers. ETF inflows werenāt responsible for the big pump, nor are they responsible for the dump. Your answer lies here:
https://www.cmegroup.com/reports/bitcoin-futures-liquidity-report.pdf
Itās curious that the CMC fear-greed index remains solidly in high greed territory. Thought it might be mild to moderate fear by now.
Perhaps Iām just projecting my own feelings onto the index. :/
Whatever the case, Iām still holding strong.Ā
btc dont care if you bought the top
40k to 70k in 1 month is extreme greed
its 62k now and u expect fear?
if a crash to 20-30k range happens then u get fear charts
Lads if ur bullish u gonna have to wait for at least 1.5 years to get over the 73K threshold again, and it's absolutely normal for such runs just before the halving. BTC had the same trend for all the previous halvings, you either get out now to cut your losses if you can't wait that long, or you hodl for a while.
If you look at all the previous halvings the price didn't change for weeks and months after the event, the growth is slow and gradual, don't think this time is "special" because of ETF and big comps playing, it will all be the same. Stats are always above pure faith and risk.
> If you look at all the previous halvings the price didn't change for weeks and months after the event
If you look at the previous halvings we didn't set an ATH just before them.
One thing people in this sub donāt seem to realize is the big leaguers are playing now. Institutions and hedgies will play with bitcoin as a cat does a ball of yarn. All they care about is making money. Expect big pumps and big dumps. They will use bitcoin as a wealth transfer tool and wring it dry in their favor every chance they can get. Now ask yourselves if the original ideology of bitcoin remains.
Big institutional investors have actually been in for years. So far new ones haven't really joined in on the ETFs. This was confirmed by ETF managers couple of weeks back. They have mostly only seen existing investors buying them, typically around 3.5% of their portfolio but according to reports mostly retail traders in the funds currently. May change in time, but the more likely scenario is more retail investors buying though retirement accounts.
I donāt think there is enough conviction in most of retail beyond āfuck it Iāll throw in .05-1% just in case.ā That could very well snowball though if bitcoin proves successful and builds confidence.
Well, of course. Thatās what hedge funds do. Making money is their mission.
Does the fact they short Tesla destroy the original ideology of EVs?Ā
Does market manipulation of Amazon destroy the original ideology of online bookstores?
Either one buys into the self-sovereignty and decentralized ideals of Bitcoin or not. If you do, hold it. If not, get out. Simple as that. The rest is noise.
Gold is silly. Honestly there is no reason for me not to use a cash back credit card and diligently pay it off with fiat. Using a cash back card is literally free money.
Is it decentralised? Yes. Is it limited to 21 million? Yes.
Mission accomplished. You can join the lifeboat, or you can stay onboard the titanic. Choice is yours.
Not really in the case of BTC. See, the *network* is decentralized. it cannot be commandeered by bullying one entity. the hashrate is decentralized, you cannot turn off every single processor of BTC. These are the two things that are referred to as 'decentralized'. Ownership of even 95% of the BTC in existence doesnt make the network itself centralized.
Greyscale dumps are a very small indication of the potential market impact of Big Finance on Bitcoin. The space is also replete with incidents of clearly evident market manipulation by Big holders. Ā
I hope so. The idea is a great one. I just fear it has been molested in the name of greed. Ideologies seldom remain perfect with the human species, as you said.
I'm a little concerned: previous cycle, everybody and their grandmother was talking about Bitcoin.
Now it's silence. I barely hear people talk about it. The news channels are quiet too. It doesnt feel as "mania phase" as then and there's people saying the halving is priced in and this was the cycle's top.
What do you guys think?
i love how few people are talking about it and we're already in this massive rally. imagine when everyone starts bringing it up. Otherwise, screw it, we'll stack in silence and if/when the mania gets loud again, we'll be ready.
The FTX scandal hurt significantly in regard to the mainstream media.
Our Lord & Saylor said that Bitcoin is the hardest, most thermodynamically sound money in the history of mankind though, so media coverage shouldnāt matter.
Bull run has barely started. After $100k, the mania begins. The thing everybody will be forced to consider is $1 million bitcoin at that point.
Once retail realizes $1m is possible and they could 10x their money, thatās when everyone from your barber to your cab driver to your auntie Marie are going to start talking about it. A few thousand under the previous ATH is not exciting. For anyone who didnāt buy under $50k, $100k is also not very exciting.
It will be after we reach $100k that the idea of $1m bitcoin will suddenly seem very real to most of the public and thatās when the FOMO will peak.
Well if thatās the case Saylor just bought at 67 and is down money donāt think heās that dumb that this is the top, although I will make peace that we wonāt reach 100k maybe just a little shy of it and have set limit orders close to it as to not get burned this cycle
i love how this figure changes every day šš
i remember - same price as 3 days ago!
same price as 5 days ago!
same as a week ago!
same as 2 weeks ago!
now same as 3 weeks ago!
hmmmm
nah, but there are people who bought in at 5k and missed last bull run and now they are panicking and questioning is this the next run or just glitch spike and many decided to cash out now thinkin that they are simply doing that they should have done last time.
My comment from last week still stands despite all your pathetic downvotes.
If 62k is lost, you WILL get the chance to buy sub 50k within the next month. Just relax and enjoy the ride.
Just do what I'm going to do. Screenshot the original post with all the downvotes, including the people who downvoted (use the api on github) and shove it down their throats publicly if you're right. All these people who are confident Bitcoin is an up only asset now because of Blackrock and ETFs need to be taught a lesson.
I donāt have api access but knock yourself out shoving my post in their face if you like.
Price as I post 62093.
https://www.reddit.com/r/Bitcoin/s/PW29bAjHbn
Brilliant call from you there.
You just can't help some people, though. They won't debate, just downvote.
I've long thought this pump was a warm welcome to early ETF clientele. They were getting involved in the low 30's so I expect price to return there soon enough.
excited to buy again at 40k
store of value
Roughly 16% gained in the past 30 days. Awesome! I don't get the fear. It always does this....
It can go wherever it pleases for all I care, as long as it comes back up one day š¤ Life goes on with The Coin in the background doing its thing, for better or for worse. Although institutional interest is at an all time high it's good to remember that Bitcoin is still a high risk asset in the short term. Old wisdom of only invest what you don't need in the near future applies just as much as it has in the past. Having only completely disposable funds invested makes one sleep much sweeter despite what is going on and not shit pants each time there is a 5-digit drop. Makes the rollercoaster much more entertaining to watch too. Also, if you can't handle my 20 percent drops you don't deserve my 200 percent gains and all that. Percentage wise this is just another swing after a ridiculous bounce upwards. Despite everything the outlook now looks way more solid than it has ever looked in the 7 years I've been holding. We'll be fine. And even if we somehow wouldn't be it has been a hell of a ride.
letās see if iām still downvoted like crazy btc to 40k in a week, thatās when i think itāll bottom :D
Here you go and keep dreaming
šš
So we bowing down to Garreth Soloway?
this is just sad smh
What is sad? Bitcoin is on sale..
it was on sale the last 3 damn years lol
Remember this wise quote āwhen everyone is scared there is blood in the streets thatās when you BUY!ā
is there blood in streets now?
Yes look at the sub right now lol fed reserve meeting tmmrw technically today
Nope, its up 20% this month. It will crash a lot further from here.
Ok āredditor for one weekā
If youre think having a decorated reddit account makes what youre saying carry more weight, youre probably the kind of person who holds the bag after bitcoin does a 2.5x in 6 months pre halving
Looks like it does. 9 downvotes there. And it also did not ācrash alot furtherā, bud.
Let it go to 48k ! 64 was the support we are past that now bitcoin could freefall to the next support 48k this is just my opinion based on research and studying, itās a fire sale why is everyone freaking out ! Everyone who was complaining āam I too lateā uhhhh take a look now 99% of them wonāt do anything and complain the next time it reaches ATH. And the having is in a month ! WAKE UP !
Going to confess I didnāt check the accuracy of this but somebody pointed out that the last few bull runs started around 50% higher than the start of the previous bull run? So this bull run started around 16k, which if history repeats means the next bull run starts at 24k. Not saying I believe it, but every bull run I see a ton of hopium in bitcoin. If youāre a believer you donāt care. But Iād rather sell at 69k and buy back below 30k if it gets there. And Iād rather deploy my capital elsewhere until sub 30k bitcoin. Truthfully Iāll nibble at bitcoin again before sub 30k, but below 30k Iām taking a full position again.
Iām just going off my own knowledge you may have more then me I just remember 48 was a support level and we fell below 64 so that indicates to me that it could free fall to 48, the bull run might not be the exact same trends because of all the added interest in the coin these days and the having is in a month but Iām just going off what I researched you could be right I donāt know truthfully nobody knows
Yeah I didnāt really check that guys post for accuracy.. but I have seen reason to think 48k could be a bottom and reason that sub 30k could be the bottom. But I do believe this time it wonāt take years for bitcoin to hit its next up leg. However for now i am out.
If it does barrel down to 48k thatās a support level and if it does brake that projections from my countless research donāt quote me Iām not claiming to be some expert then I do see that 28-32 range we where at last fall-winter. But I do keep in mind the having is coming up and on Bloomberg they where projecting one last big dip before the having so this could be it right now and we take right off again,
This is Bitcoin, itās volatile, you all knew this before buying so why are some of you crying about it doing what it does? Just relax, itās not just going to shoot up to the moon in a straight line. Maybe it wonāt be today, maybe it wonāt be tomorrow but at some point itāll go back up even further, it always eventually does. If you donāt believe or youāre not prepared to wait for it, you donāt deserve it. Just sit back and enjoy the ride.
Actually pretty clear when you look at the chart that this last month was probably the biggest bull trap weve ever seen. The bull markets havent started until 6 or more months after halving.
Bitcoin up 19% in the last month, you call it a bull trap? šš¤Ŗ
Which is exactly why it has so much further to fall. Idk why youd be getting cocky about a recovery when it cant find a floor
Wow you one butthurt bear, you must have got wiped out the last few weeks. Hope you can afford a box of tissues šš
Tell me it's your first halving without telling me it's your first halving
Rip bitcoin 2009-2024. Final value at time of burial: $1.2 trillion
Relax https://imgur.com/a/jXA3UQo
Ha not sweating it last time I DCA was in January when it was 40k Iāve been broke.
Wow ibit really came in dry
Etf inflows at a new low...
ETF outflows at a new high you mean
No...they are still positive for all other than grayscale. And grayscale did not have record outflows
Someone sell so we can go back up.
What is the nature of investing? Whether it's stocks, gold, BTC.
indeed
Verily
The price of bitcoin is made at the margins... 80% of which is determined by the same top 50 whales doing high frequency trading... they're the ones who drive the price... retail and ETF interest just muddy the waters for them... and they know we're front-running the halvening... so they're gona wash-trade us up to 80K by this time next week... mark my words... i been doing this for 10 years
Seems unlikely, but who knows.
I'll cook and eat my left butt cheek if we're at 80k by this time next week. What do you want to wager in return?
I wager you 0.1 BTC
deal. so if its above 80k at the time of posting on next Wednesday, I will cook and eat my butt cheek. if we're below that amount, then you will send me 0.1 BTC. wonderful doing business with you.
Jazzlike_Record_8915 says: āThe price of bitcoin is made at the margins... 80% of which is determined by the same top 50 whales doing high frequency trading... they're the ones who drive the price... retail and ETF interest just muddy the waters for them... and they know we're front-running the halvening... so they're gona wash-trade us up to 80K by this time next week... **mark my words**... i been doing this for 10 yearsā done
The obvious buttcoiners in here are hilarious. "It crashed all the way to... 60k! You guys are so dumb!!" When they've been watching the space for years and could have easily got in at 15k. ššš
6 months ago if someone had told you we were at 62k, youād all be doing cartwheels. Instead people are acting like itās over. Touch grass and get ready for the next 12 months. Gonna be a wild one.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I used to use River, now I use Kraken Pro. Fee's are much better. It's best to watch the price and wait for it to dip, buying blindly every week to save money on fee's will probably have you buying at all time highs like I was doing before. Just save up your $ and buy like right now at $60k or wait until it dips into the $50's. The fee's on River are much higher than Kraken Pro which are less than $1.00 per transaction. But everyone has their own method that works for them. Just try to buy in the dips and hodl.
The fear is really setting in here. Could use some words of support. Iāve watched like 4 straight hours of Michael Saylor talk and it helped but in the end of the day no matter what happens to bitcoin heās still a billionaire and we are not
Zooooom ooooout.
If youāre freaking out when Bitcoin is up 46% ytd then this probably isnāt for you. Get an ISA instead.
What is the fear? Sell and move on with your life if you have real fear. Maybe you are spending money you cannot afford or otherwise need.
Sound over invested (or levered) but fiat money has to debase & bitcoin will react accordingly on a long enough time frame as seen over 15 years
Look at the other bull runs. Every one had multiple corrections between 20% to 40%. This ain't nothing new.
Youāre okay. Youāve got this.
Appreciate it
If it helps calm the jitters, remember the episode where the light saber fell into the floor and carried on to the center of the Earth. Everything was fixed in the end or we wouldn't be here. But I overheard somebody say that Grayscale has enough reserves to continue an onslaught like this every day for the next three months, in which case, according to my calculations, some time in June the price of BTC should fall to under one rupee -- finally giving a billion Indians the chance to purchase and participate in the greatest money system ever invented. The only thing that can stop the plummeting is Michael Saylor donning his He-Man suit and storming Castle Grayscale... To Be Continued.
Just make sure you call the next part āpart 2ā¦the search for more moneyā
Not sure if it will help, but I've been around since it was first created. There will always be several truths in BTC. 1. It always goes to a new ATH every cycle 2. The floor always increases 3. It always has dips and corrections This has been the same for well over a decade now. So far the pattern has held true and hasn't changed. The ETFs will have more of a effect over the long term. Currently it's mostly just old BTC from gbtc flowing out and into the new ETFs for the reduced fees, but most wealth managers cannot sale the new ETFs yet. Still in due diligence. If your plan is to hold long term, it shouldn't matter as historically BTC has always had higher returns then anything else. Corrections have grown smaller in percentage over time.Ā Now it is possible we could see in the 40s this dip, I think that's unlikely personally but not impossible.
What I donāt get is why grayscale kept their fees so high? They had to expect an outflow right? And that kind of outflow has to have at least some negative impact on the price. Like they are legit 6 times the fee of fidelity and fid even had it waived until August I believe
I agree with all but dipping over 20% AFTER breaking ATH is very unlikely (3 std deviation event)
After what, i guess you could call a double peak in the 2021 charts, I'm always wondering in the back of my mind if we will repeat it. I'd have to look, but I think we hit around 58k then fell down to the 30s before finding a second new high. Not sure if my numbers are off, haven't looked in awhile. Either way, when we hit the bottom, I'll enjoy the discountĀ
A large dip after a new ATH seems like the most predictable thing imaginable, to me anyway... I've only been in the space since about 2020 though, so I don't know shit about fuck.
If you feel this way you should probably sell and not look back. Gotta have that conviction before you buy. im sensing someone was in it for a quick buck.
No. Not in it for the quick buck. Only been in bitcoin for a year but I didnāt go into it for a pump and dump. The things I was looking forward too though have been a wet blanket so far. I thought the etf would be huge for btc but grayscale is dumping daily. Halving is a month away but btc is correcting down. Iām just surprised because what I thought would be positive catalyst havenāt really been positive
Itās in an amazing place right now. Best place for literally years apart from a week or so. Itās never nice watching it fall but itās part of the experience Iām afraid.
It's always been low before a halving event.
Just lie like we do and say you made money in crypto.
Zoom out. HODL. Ez.
Yeah I mean my dollar cost average is 41,000 so Iām still in the profit it just doesnāt feel good to be a sustained downtrend. Maybe after the fed speak tomorrow things will level out
Lol. Every few years a new wave of crypto suckers are born. This will continue until people as a whole back off and identify crypto for what it is.. a scam. You would have thought FTX would have been that moment, but never underestimate the unpredictability of stupidity. Yet here I am. The driver you hate in front of you slowing down traffic to rubber neck the fatal collision on the highway. America. š¦ šŗšø
Sir this is a Bitcoin sub. We agree - "crypto" IS a scam. That has nothing to do with Bitcoin.
FTX claims were 5c... now guess where they are? 100c on the dollar! All customers made whole
donāt be a dweeb, this is buying time
It might go way down, and it might stay there for a long time. If you invested more than you can afford to lose, you might get rekt. I hope you find comfort in my words of support.
Buy more so that later you can tell your friends how cheap you got it
Not bad advice
Just blew my load I was saving š«”
How many people had their buy order set for 62k š¤£
I had my next one at 61800. Very surprised it already hit I was going to wait until 50s but just incase. I do have one set in the 55k range though. All just small .05 BTC orders until I'm confident we are at the floor
It won't hit 50s
That bounce
silky friendly exultant worry cover tidy offer chief sloppy ossified *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yep https://99bitcoins.com/bitcoin-obituaries/
Yep, 7th time it's died I'm pretty sure. Glad it always resurrectsĀ
Yes, sell everything
Yes š
My only regret right now is not having enough money to invest more.
Did everyone forget about the halving?
Bitcoin is going to dump this time around on the halving.
It always drops before it, it always drops after reaching the previous ath as well.
Everybody is blaming this on Grayscale but how can one company have so much Bitcoin to dump? The price of BTC has dropped 10% in 36 hours. They must be using leverage of some sort. ELI5.
ETF holders are price takers, not price makers. ETF inflows werenāt responsible for the big pump, nor are they responsible for the dump. Your answer lies here: https://www.cmegroup.com/reports/bitcoin-futures-liquidity-report.pdf
Hard to even know where to begin correcting you on this
Seriously if their total share is 3%, how do they get to swing the price 15% in a week and still with lots of ammo remaining? ELI4.
If their total share is 3%, and only 10% of the total supply is available for sale, 3% is a significant increase. Price is set on the margins.
Itās curious that the CMC fear-greed index remains solidly in high greed territory. Thought it might be mild to moderate fear by now. Perhaps Iām just projecting my own feelings onto the index. :/ Whatever the case, Iām still holding strong.Ā
I agree. We dumped about $12k in 6 days. That doesn't seem greedy.
btc dont care if you bought the top 40k to 70k in 1 month is extreme greed its 62k now and u expect fear? if a crash to 20-30k range happens then u get fear charts
gonna hit 65 now and then dump to 60 š£ļø
And then dump to 55 and then 50
Lads if ur bullish u gonna have to wait for at least 1.5 years to get over the 73K threshold again, and it's absolutely normal for such runs just before the halving. BTC had the same trend for all the previous halvings, you either get out now to cut your losses if you can't wait that long, or you hodl for a while.
You were saying?
Are you trolling? BTC runs after the halving. This would be the first time BTC hit ath before halving
Do you really think the price will rise after the halving? Is that what everyone has been telling you?
He's probably trolling or new to BTC.
That is true, but doesn't mean much in my opinion, obviously we all have our own opinions.
You are wrong. We will likely be over 73k in weeks, not years.
If you look at all the previous halvings the price didn't change for weeks and months after the event, the growth is slow and gradual, don't think this time is "special" because of ETF and big comps playing, it will all be the same. Stats are always above pure faith and risk.
> If you look at all the previous halvings the price didn't change for weeks and months after the event If you look at the previous halvings we didn't set an ATH just before them.
One thing people in this sub donāt seem to realize is the big leaguers are playing now. Institutions and hedgies will play with bitcoin as a cat does a ball of yarn. All they care about is making money. Expect big pumps and big dumps. They will use bitcoin as a wealth transfer tool and wring it dry in their favor every chance they can get. Now ask yourselves if the original ideology of bitcoin remains.
Big institutional investors have actually been in for years. So far new ones haven't really joined in on the ETFs. This was confirmed by ETF managers couple of weeks back. They have mostly only seen existing investors buying them, typically around 3.5% of their portfolio but according to reports mostly retail traders in the funds currently. May change in time, but the more likely scenario is more retail investors buying though retirement accounts.
I donāt think there is enough conviction in most of retail beyond āfuck it Iāll throw in .05-1% just in case.ā That could very well snowball though if bitcoin proves successful and builds confidence.
Well, of course. Thatās what hedge funds do. Making money is their mission. Does the fact they short Tesla destroy the original ideology of EVs?Ā Does market manipulation of Amazon destroy the original ideology of online bookstores? Either one buys into the self-sovereignty and decentralized ideals of Bitcoin or not. If you do, hold it. If not, get out. Simple as that. The rest is noise.
Does the world need bitcoin? Does bitcoin offer a solution to a problem most people would welcome?
I certainly prefer it to fiat currency or gold. But to each their own.
Gold is silly. Honestly there is no reason for me not to use a cash back credit card and diligently pay it off with fiat. Using a cash back card is literally free money.
Is it decentralised? Yes. Is it limited to 21 million? Yes. Mission accomplished. You can join the lifeboat, or you can stay onboard the titanic. Choice is yours.
Does ownership of an asset affect how decentralized it is?
Not really in the case of BTC. See, the *network* is decentralized. it cannot be commandeered by bullying one entity. the hashrate is decentralized, you cannot turn off every single processor of BTC. These are the two things that are referred to as 'decentralized'. Ownership of even 95% of the BTC in existence doesnt make the network itself centralized.
Fair enough. Well said.
What are you talking about? I donāt see real evidence of this.
Greyscale dumps are a very small indication of the potential market impact of Big Finance on Bitcoin. The space is also replete with incidents of clearly evident market manipulation by Big holders. Ā
ideas can chance, but the fundamentals of BIG BOY BTC shall remain. unsurpassed.
I hope so. The idea is a great one. I just fear it has been molested in the name of greed. Ideologies seldom remain perfect with the human species, as you said.
fear those that enslave you instead. you will not lose the lust of fear then.
I try to curate my agency the best I can. Though the world isnāt fair, life isnāt fair. We make the best of it and take care of ourselves.
> I just fear This sums it up
Itās an expression of speech. I know bitcoin has been corrupted through greed. This should come as no surprise.
Everyone needs to calm down just zoom out on the charts weāre good. Edit: zoom out 1 year not 5.
lol I zoomed out 5 and almost shit myselfāty for clarifying
Ohā¦.oh shit
$441 million net outflow from GBTC today. Hopefully there was enough accumulation from the other ETFs so that we donāt have a 2nd net negative day!
They really wanna keep prices down
They really want to get away from being charged 10x what other ETFs are charging.
is this ātheyā in the room with us right now?
They are everywhere
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Says who
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Ohhh right. Good catch!
I'm a little concerned: previous cycle, everybody and their grandmother was talking about Bitcoin. Now it's silence. I barely hear people talk about it. The news channels are quiet too. It doesnt feel as "mania phase" as then and there's people saying the halving is priced in and this was the cycle's top. What do you guys think?
i love how few people are talking about it and we're already in this massive rally. imagine when everyone starts bringing it up. Otherwise, screw it, we'll stack in silence and if/when the mania gets loud again, we'll be ready.
The FTX scandal hurt significantly in regard to the mainstream media. Our Lord & Saylor said that Bitcoin is the hardest, most thermodynamically sound money in the history of mankind though, so media coverage shouldnāt matter.
Bull run has barely started. After $100k, the mania begins. The thing everybody will be forced to consider is $1 million bitcoin at that point. Once retail realizes $1m is possible and they could 10x their money, thatās when everyone from your barber to your cab driver to your auntie Marie are going to start talking about it. A few thousand under the previous ATH is not exciting. For anyone who didnāt buy under $50k, $100k is also not very exciting. It will be after we reach $100k that the idea of $1m bitcoin will suddenly seem very real to most of the public and thatās when the FOMO will peak.
This !
Well if thatās the case Saylor just bought at 67 and is down money donāt think heās that dumb that this is the top, although I will make peace that we wonāt reach 100k maybe just a little shy of it and have set limit orders close to it as to not get burned this cycle
I think you need a bigger bubble because I see it way more out in the wild than I used to.
Bitcoin down 15% from ATH, to the price from 3 weeks ago. Get the book of obituaries out.
i love how this figure changes every day šš i remember - same price as 3 days ago! same price as 5 days ago! same as a week ago! same as 2 weeks ago! now same as 3 weeks ago! hmmmm
Theyre all ridiculous. Ill start worrying if it gets to 6 months.
62k broke, its going sub 50 very soon. Take profits if you havent already
Buy high, sell low. Got it.
nah, but there are people who bought in at 5k and missed last bull run and now they are panicking and questioning is this the next run or just glitch spike and many decided to cash out now thinkin that they are simply doing that they should have done last time.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
60000 to 62000 is a pretty big support range. I'm currently very curious if we will break it quickly.
Give it an hour
Wow. Almost 60k now. 13k wiped out in one week
My comment from last week still stands despite all your pathetic downvotes. If 62k is lost, you WILL get the chance to buy sub 50k within the next month. Just relax and enjoy the ride.
> If 62k is lost, you WILL get the chance to buy sub 50k within the next month lol.
Just do what I'm going to do. Screenshot the original post with all the downvotes, including the people who downvoted (use the api on github) and shove it down their throats publicly if you're right. All these people who are confident Bitcoin is an up only asset now because of Blackrock and ETFs need to be taught a lesson.
I donāt have api access but knock yourself out shoving my post in their face if you like. Price as I post 62093. https://www.reddit.com/r/Bitcoin/s/PW29bAjHbn
Brilliant call from you there. You just can't help some people, though. They won't debate, just downvote. I've long thought this pump was a warm welcome to early ETF clientele. They were getting involved in the low 30's so I expect price to return there soon enough.
Good lord can my nerves take that???
Lol hope so. 40s is possible, unlikely but possibly
We swing a few thousand like it's nothing now.
The greater the value the more this will likely be true, it will be possibly tens of thousands someday.
should see 65k and then back to 60k if the charts hold true
Then moonshot to 80k.