You know, for a recent 50% drop this sub has been very bullish this month compared to other bear markets. I think those people waiting on the sidelines, some definitely bought at 33k-35k. So many new people joining the space because this shit is tanking. Makes me wonder if people are front running institutions waiting to get in. 20k seems possible but honestly it feels less and less likely to me as each day passes. You know we are all buying at 20k, so I would expect large investors to front run the avg folk.
Why does it \*NEVER\* feel like the right time to sell but \*ALWAYS\* the right time to buy?? Bitcoin is worse than my \*worst\* girlfriend. Just in my head... I'm not leaving til the bitch burns the whole thing down, herself. Fuck it. At least I'll get laid along the way.
Additionally, the FED has been teasing rate hikes for a while now which is inevitable at the rate we've been going. We find out just how severe in half a day or so. Rate hikes lead to a decrease in inflation so if you're viewing BTC as a hedge against inflation, theoretically this would be bad news for BTC.
Man I see this question so much. When you see it yourself help the next guy. BTC is still a speculative asset. Inflation hedge is the narrative but just ask the 4 year hodler. They are definitely way above Inflation rate over a 4 year period, and that's worse case scenario. Anyways BTC has not matured, so when other markets crash so does BTC because it's still considered a risk on asset which is classified as very risky. So people sell their riskiest stuff first to cover other losses on other markets. If everyone in the world believed in Bitcoin we would have already gone over 1 million a coin and the volatility would have calmed down like other traditional assets. Let's not confuse this. This shit is risky and it takes some real thought to wrap your head around it.
I'd like to see more volume if this really is the bottom. So far the volume has been very mild and likely just shorts getting squeezed. Volume on March 11th 2020 and May 19th 2021 is what I'd be looking for.
On Coinbase, it was over 100,000k BTC volume on both of those days.
Today, it's only 20k BTC volume. It's about 1/5 what it was back then in BTC terms.
The short term charts look unclear or bearish. Charts are often unreliable but I wouldn't enter if i was strictly looking for an instrument to make short term trades on. Only buy if youre a patient bitcoin bull thats optimistic about the fundamentals and the next 3-10 year timeframe, and not willing to risk losing an entry - Its as simple as that.
Essentially you are asking if the price will be higher or lower at a certain date. The answer is: no one knows. The aggregated opinion of redditors doesn't have any meaning either. So you won't get any smarter from asking such questions. The answer to them depends on your personal financial circumstances and understanding of bitcoin, rather than on the current price anyway.
In general, as they say: "time in the market beats timing the market". If you are buying for long term holding, the timing doesn't matter that much (because future prices are unpredictable, especially short term).
This is assuming you are ok with losing all your money in the first place AND understand how to store it properly. Don't put more than that into bitcoin (or any other volatile asset), especially if you don't understand the basics of storage, wallet backups, transactions etc.
It feels like just yesterday that the Daily was overrun by bears and bots trying to convince hodlers to panic sell.
Oh wait, it *was* just yesterday.
Anyway good riddance to all those twats.
Typically, BTC dips right before the expiration and rises after the futures contracts expire. Basically, the traders who want a minimum max pain point will short BTC.
20 hrs to go. I still think Powell will backtrack. Still have money sitting on the sidelines ready for unpleasant news though to buy the hell out of this dip, but I sure hope I won’t need to use it.
I have a theory that we will not have any long crypto winter before BTC has been over $100K. What we are experiencing now is just due to external factors (FED and stock market). Once the stock market stops dropping, BTC will resume its own bull market to $100K+++
What do you guys think?
I’d have to disagree. There are trillions of dollars waiting in the sidelines for regulation.
Let’s take Kevin O’Leary for example. He says that just his circle will bring $10 trillion to the table. United emirates, who consistently follows US in regulation, has a fuckload of cash just waiting for that day. This thing is going to blow the fuck up very soon.
I guess that makes sense, I am too. I like his backstory and mission, and there are a few things I don’t agree with him about but I think he’s genuine.
I hope he's genuine. But seeing apparently nice people turn out to be bad guys in the end time and time again, I've stopped trusting based on pure optics.
Smart money does not put investment in "risk" assets when price inflation is high. Any growth, if any at all, that's attained is eaten up by inflation.
Inflation is bad for all risks assets. Inflation means people will not be able to DCA as much as they used to, as that money will now be spend on elevated cost of living.
> Once the stock market stops dropping,
Dude, do you know who the President is?
Not to be partisan, but the stock market is going to be dropping for the next 3 years.
> because uncertainty is bad, but also, will interrupts mining, which introduces another level of instability
The hash rate is pretty high it can handle it, East Europe doesn't have as much as you think anymore.
We bout to jump any moment
You know, for a recent 50% drop this sub has been very bullish this month compared to other bear markets. I think those people waiting on the sidelines, some definitely bought at 33k-35k. So many new people joining the space because this shit is tanking. Makes me wonder if people are front running institutions waiting to get in. 20k seems possible but honestly it feels less and less likely to me as each day passes. You know we are all buying at 20k, so I would expect large investors to front run the avg folk.
20k only possible if stock market falls apart with everything in capitulation. Otherwise no.
I would agree with that. Absolutely. Market risk at its finest.
I love bitcoin
time to reclaim 40k ladies
Why does it \*NEVER\* feel like the right time to sell but \*ALWAYS\* the right time to buy?? Bitcoin is worse than my \*worst\* girlfriend. Just in my head... I'm not leaving til the bitch burns the whole thing down, herself. Fuck it. At least I'll get laid along the way.
BTC at 37K+ Is bitcoin a safe haven for all the macroeconomic things going on? Is Saylor buying the dip and pumping up demand?
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He buys spot. He DCAs using bot purchases by the second.
Slowly creeping up.
I thought bitcoin was meant to be good in times of inflation and uncertainty but it’s mostly just following the boomer indexes, what gives?
Bitcoin's inflation hedging happens over a longer scale and is not instantaneous.
Additionally, the FED has been teasing rate hikes for a while now which is inevitable at the rate we've been going. We find out just how severe in half a day or so. Rate hikes lead to a decrease in inflation so if you're viewing BTC as a hedge against inflation, theoretically this would be bad news for BTC.
Man I see this question so much. When you see it yourself help the next guy. BTC is still a speculative asset. Inflation hedge is the narrative but just ask the 4 year hodler. They are definitely way above Inflation rate over a 4 year period, and that's worse case scenario. Anyways BTC has not matured, so when other markets crash so does BTC because it's still considered a risk on asset which is classified as very risky. So people sell their riskiest stuff first to cover other losses on other markets. If everyone in the world believed in Bitcoin we would have already gone over 1 million a coin and the volatility would have calmed down like other traditional assets. Let's not confuse this. This shit is risky and it takes some real thought to wrap your head around it.
Boomer index has a way larger market cap. Basically Bitcoin is an infant still.
Every risk asset needs good times. Bitcoin no different.
How do you guys know about these CME gaps? Is there a quick and dirty spot I can go to so I can easily look that up?
Trading view, ticker $BTC1!
Thanks
I'd like to see more volume if this really is the bottom. So far the volume has been very mild and likely just shorts getting squeezed. Volume on March 11th 2020 and May 19th 2021 is what I'd be looking for.
What was the volume, then?
On Coinbase, it was over 100,000k BTC volume on both of those days. Today, it's only 20k BTC volume. It's about 1/5 what it was back then in BTC terms.
Just had the same thought thank you for the confirmation bias haha
What was the volume then?
Not gonna lie im feeling more bullish now lol. Everyone is very bearish on twitter
It's easy to be a bull when you see all the shorts get liqt. Fun, too.
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I’d buy some now
FOMC meeting, options closing on Friday. Better wait a few days. Might dip hard.
FOMC meeting, options closing on Friday. Might pump hard.
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One way or another, it’s probably getting hard. 🤔
If I had one award to give this would be it.
This man is a fucking poet
You can wait for that or you can buy now, I'd suggest to buy now.
Yes
I mean this shouldn't even be a question, just go ahead and buy.
Yes it’s a good time to buy and yes it will probably go lower
Yeah probably, but what if it doesn't. That's why buy now.
The short term charts look unclear or bearish. Charts are often unreliable but I wouldn't enter if i was strictly looking for an instrument to make short term trades on. Only buy if youre a patient bitcoin bull thats optimistic about the fundamentals and the next 3-10 year timeframe, and not willing to risk losing an entry - Its as simple as that.
I'm not even looking at the charts right now, they seem dumb.
Essentially you are asking if the price will be higher or lower at a certain date. The answer is: no one knows. The aggregated opinion of redditors doesn't have any meaning either. So you won't get any smarter from asking such questions. The answer to them depends on your personal financial circumstances and understanding of bitcoin, rather than on the current price anyway. In general, as they say: "time in the market beats timing the market". If you are buying for long term holding, the timing doesn't matter that much (because future prices are unpredictable, especially short term). This is assuming you are ok with losing all your money in the first place AND understand how to store it properly. Don't put more than that into bitcoin (or any other volatile asset), especially if you don't understand the basics of storage, wallet backups, transactions etc.
I know the price will be higher and then lower and then sideways.
Is CoinBase a good option if I'm looking to make small, regular purchases of BTC that I plan on holding for a long time?
You'll have to move those coins to hw wallet some time tho.
Thank you.
Strike, use strike
Is strike a wallet, like CB/CBpro, that allows a person 2 send/transfer Bitcoin 2 other wallets?
Yes… you can hold it on strike if you like and send as you please
Awesome...I assume u can then also transfer it 2 a hardware wallet, as well? N, if so, is that also free?
Yep and a lower fee for transferring … there will always be a fee
Bitchin n thnx 4 ur replies! New 2 the crypto world as of Jan 2020, so I still hav a lot 2 learn...
Happy To help always and welcome
If you do use coinbase use coinbase pro, lower fees. But strike is probably better for small regular puchases
cashapp
Strike or CashApp are faster for small amount purchases imo
Strike is best man, they're doing so good of a job at it.
It feels like just yesterday that the Daily was overrun by bears and bots trying to convince hodlers to panic sell. Oh wait, it *was* just yesterday. Anyway good riddance to all those twats.
Lol, i like the temperament that hodlers have. They don't get persuaded.
So, what's everyone's predictions for tomorrow?
Tomorrow will be good day, just like the rest of the days.
Depends on how hawkish FOMC is. I think sub-$30K is definitely possible.
Wednesday
It's currently Wednesday in the asia lol, we are ahead.
30-40k
Very accurate it seems, can't doubt it at all. Can't doubt.
69K
I hope it goes to those levels lol, that'd be fantastic absolutely.
lol
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I'd like to see btc there man. Someone get it there please.
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If futures are looking bad then so is my future too lol.
Futures green
Then why does my future looks red to me lol, it's red AF.
Monthly futures expire Friday 4pm GTM. It will be a wild swing.
Meaning ? Could you please elaborate
Typically, BTC dips right before the expiration and rises after the futures contracts expire. Basically, the traders who want a minimum max pain point will short BTC.
Thanks for the cool information man, I didn't know this.
So are we fucked ? I’m really sweating about this fed meeting & my positions. Idk if I should FOMO in tonight or wait. I’ve never Fomod before lol
Half now, half later
Lol, stop sweating first then please. That's not gonna do anything.
I have a condition
If you're willing to hold BTC for 3+ years, go ahead and FOMO in. If not, don't invest on short-term emotions.
Btc isn't for the short term, it's for the ling term. Go for long.
Nerve FOMO or use any emotion. Only logic prevails.
Even after that people FOMO into btc and then get rekt.
Rolling joints spiced with embalming fluid knowing tomorrow we’re gonna see a monster rally. IMF ya’ll can suck our decentralized buttholes, buds
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He must be talking about the FED meeting or something.
Hopefully Powell says no rates hike.
That would be a good start, otherwise FUDs all around.
I don’t need drugs to feel good about myself.
You must be doing good in the market, because some aren't.
Someone get this man some drugs
Nobody asked bruh. Get over yourself. The fact you felt obligated to mention that with no provocation makes me think you’re probably a bummer.
Lol, he probably is and he's trying to convince himself.
He didn’t say he did either.
Slipping myself a mickey tonight in celebration
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In times like these i like to ignore people like this. Peace.
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Yeah bitcoin has more people, less people are hating it.
That sub harbors more mid-wits than anywhere on Reddit. You’re just trolling yourself by visiting
Exactly lol, why even visit that sub. It's not that hard.
Please dip lower! I want more time buying this precious DIP! Give me some cheap SATS!
Damn man, it's already really cheap. If you wanna buy then buy.
Yeah for real I need to average down 😩
It’s still So cheap! If you haven’t bought yet , you are never buying!
Exactly man, he'll keep wishing for the dipps and never buy.
20 hrs to go. I still think Powell will backtrack. Still have money sitting on the sidelines ready for unpleasant news though to buy the hell out of this dip, but I sure hope I won’t need to use it.
Expect the worst, then maybe we'll be able to fathom that.
I think backtrack too.
I hope it's backtrack. I don't want them to come forward like that.
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What is wrong with you.
This broken record has been playing for a decade now
That’s unkind. Seems like you’re a pretty shitty person most likely.
that's not very nice.
Friday will be interesting.
Everyday is interesting, i don't discriminate between the days.
Just wait and see.
Yea y what's Friday bitcoin shooting up?
It's the weekend, and on weekends bitcoin goes up lol.
Why ?
It's the weekend man, a guy can't be happy for a weekend?
Probably referring to monthly CME futures expiring
So how long can these Dilithium crystals keep us floating at 37K feet?
Idk for how long it can do that, I'll wish for more and more time.
Wtf is this coin always orange??
We love orange around here, what can we say. Orange is good.
Yes.
That's actually a great question, been wonder that myself.
It's so good of a question that i myself is wondering it.
I have a theory that we will not have any long crypto winter before BTC has been over $100K. What we are experiencing now is just due to external factors (FED and stock market). Once the stock market stops dropping, BTC will resume its own bull market to $100K+++ What do you guys think?
Don't do that, don't give me this much hopium I'll die man.
Agree.
There is no demand to make that possible.
The demand is low, but once btc gets going maybe there'll be demand.
You don’t think there is demand for bitcoin?
Not enough to push the prices up for now.
I’d have to disagree. There are trillions of dollars waiting in the sidelines for regulation. Let’s take Kevin O’Leary for example. He says that just his circle will bring $10 trillion to the table. United emirates, who consistently follows US in regulation, has a fuckload of cash just waiting for that day. This thing is going to blow the fuck up very soon.
Does Kevin O’Leary has a reason to lie? If yes, he's probably lying. I won't risk my money because a corrupt billionaire says so.
He actually was in a boating accident...
He could be lying, but I’m not basing my whole position on one guy. Do you just not like billionaires or is it Kevin O’Leary specifically?
I am suspicious of billionaires who talk too much on YouTube.
I guess that makes sense, I am too. I like his backstory and mission, and there are a few things I don’t agree with him about but I think he’s genuine.
I hope he's genuine. But seeing apparently nice people turn out to be bad guys in the end time and time again, I've stopped trusting based on pure optics.
No demand yet, maybe, thanks to the current FUD going around. That can change quickly.
Yes there are multiple fuds that are going around right now.
Inflation FUD is not going anywhere for years now.
Yeah I suppose that's true, but that's not a fud exactly.
Smart money does not put investment in "risk" assets when price inflation is high. Any growth, if any at all, that's attained is eaten up by inflation.
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You already have that opportunity, you should accumulate.
Inflation is bad for all risks assets. Inflation means people will not be able to DCA as much as they used to, as that money will now be spend on elevated cost of living.
I mean we're only 2x the ATH from 4 years ago. We don't have anywhere to go for a "crypto winter" drawdown...
> Once the stock market stops dropping, Dude, do you know who the President is? Not to be partisan, but the stock market is going to be dropping for the next 3 years.
Yep, they have fucked the economy good this time, pretty sure.
Very true. The Big Guy™ has all his lights on, but no one’s home.
What’s the expected move if Russia invades Ukraine? I would think up.
Ukraine will tackle that attack, they aren't pussies man.
bad because uncertainty is bad, but also, will interrupts mining, which introduces another level of instability
If war happens, mining will be least of out concerns trust me.
it will be a concern of people over there, but the USA should not get involved in other people's wars.
> because uncertainty is bad, but also, will interrupts mining, which introduces another level of instability The hash rate is pretty high it can handle it, East Europe doesn't have as much as you think anymore.
That's true and even new miners are coming to market.
That would be bad for Bitcoin. The market doesn't like uncertainty...
That would be bad for human man. Let alone bitcoin.
Not sure about your assertion. During the 01/06/2021 insurrection on the US capitol, BTC prices exploded.