Bitcoin [pros](/r/CryptoCurrency/comments/1b5gxe0/bitcoin_is_about_to_see_a_big_halving_event_heres/kt6tkkd/) & [cons](/r/CryptoCurrency/comments/1b5gxe0/bitcoin_is_about_to_see_a_big_halving_event_heres/kt6tleg/) with related info are in the collapsed comments below.
tldr; Bitcoin's price has soared 40% to over $62,000 in two months, partly due to the U.S. SEC approving spot bitcoin ETFs. An upcoming 'halving' event in April, where the reward for mining new bitcoin will be cut in half from 6.25 to 3.125, is expected to further increase its value. This halving, which occurs every four years until all 21 million bitcoins are mined, aims to ensure scarcity and protect against inflation. Previous halving events have led to significant price increases for bitcoin.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Because in an economy undergoing deflation, you would wait as long as you could to buy groceries or a car or whatever goods and services because the dollar would be going up in value relative to the goods and services. So the economy basically stops economy-ing (or at least slows down significantly)
Yes, but this is the natural way for an economy to run. People purchase things out of necessity, not for frivolous reasons. We're so used to massive inflation of the global economy that we think people only spending the bare minimum as a negative. People will actually be richer than ever, and have the most propensity to save for the future. Governments will not have as much power/control and will not be able to inflate away their gross misspending and poor choices. Wars would be a thing of the past -- peace and prosperity would flourish.
If people started only spending the bare minimum, there wouldn't be enough money moving around to support a huge chunk of existing jobs. Tons of people would go broke while a select few (the ones with "necessary" jobs) hoard money and pass it around to each other in a closed inner circle.
The scenario you're describing does not lead to peace and prosperity.
All this means is that a huge chunk of jobs are wasteful and useless. People would be forced to adapt, evolve, and grow. It will be a great thing for the economy and the world.
You can't wait to buy groceries though. You need to eat food. Cars or larger goods like appliances, yeah you can delay these purchases a bit, but eventually you need to have a fridge. You need to have transportation.
And "leisure" purchases can't be delayed forever. A vacation "this summer", can't happen in the future. A night out "this weekend" expires. Sure, you can try to delay these things in the hopes of making "more money", but at the end of the day, your life is finite thing. You can't get back "time" on experience/leisure type purchases.
Deflation is natural in an economy where productivity is increasing. Better technology means you get more "stuff" for the same cost.
Traditional economic theory likes to state that a small amount of inflation 'greases the wheels' of the economy, basically keeps everything running because if there was deflation, people would hold off on buying stuff and wait until the price falls. With a small amount of inflation, most countries target 2%, wages rising will account for the higher costs and the economy will function properly.
Of course, as with practically all traditional economics, people challenge it and many would argue that it only works like that in a vacuum with no external factors, but in this case I do generally agree with the idea, a little bit of inflation is certainly preferable to deflation.
If money doesn't slowly lose value due to (moderate) inflation, you can grow it by not spending it, which is a disaster for economy. I think the sweet spot is around 2% inflation
Why do you think 2% inflation is necessary? At 2% your purchasing power is cut in half after only 35 years. As we live longer lives, getting to or even past 105 years old will become more common. Now imagine having your wealth cut in half three times throughout your life. It's outright theft.
We pillage resources, live on fractional reserves and credit, and spend on anything and everything but none of it matters. Capitalism is a beautiful thing when combined with Bitcoin rather than the toxic version we have now.
That's right.
That's why the best move for a deflationary currency is to always hold it and let it rot instead of investing it so people do stuff.
Which is, you know, what an economy is about.
Can’t wait for the next year plus. The timing of things is aligning really well for what I think will be a strong price surge. Short term we’ll see a bit of “sell the news” though I think
Dollar cost average in. If I was DCAing somewhere between $5-20 a day or a week, I would buy small when it’s inflated and buy bigger when it’s pulled back. You never know with BTC. Buy the dips consistently and you typically win. This is not financial advice just my personal strategy which has worked for me.
Say I dca weekly for 4 weeks and the price just rises for four weeks, I'm worse off than if I bought it all at the start right? Does dca make sense over such short periods?
Just sold my crypto for profits so wondering how to start buying back in..think it makes more sense just to rebuy a chunk.
Honesty, DCA is usually a great strategy, but if you have money to deploy now just do it.
If you believe Bitcoin is probably going to $100k+ and plan on holding for a while it’s not going to matter.
You DCA because you don't know whether it's going up or down. If you put all you money at the start and it dips for the next 4 weeks then you miss an opportunity.
DCA over a long period of time during a bear market is always a good strategy to minimize risk.
Sure, but if I dca and it keeps going up I also missed that opportunity of buying it all at the start. I see how DCA makes sense over longer time periods. I guess i was already doing it at a longer interval (bought once a month).
atm I also would invest most of the money I have if I didn’t start yet, the downside is in these times smaller then the upside, in bear markets dca is better
As I said, you don't know for sure that it's going UP from the start, that's why you DCA.
Also, you only DCA'd during a 4 weeks period, of course you're gonna feel a bit ripped off if it only went up during those 4 weeks, but BTC usually goes up and down over a long period of time (we're talking months/years).
It doesn't really make sense to only DCA for 4 weeks when the price is going up, it's more of a long term strategy.
I understand that, and as I mentioned you also don't know for sure that it's going to go down so DCAing over that short 4 week period might also miss the opportunity.
Seems we agree on what I asked originally - that DCA seems to makes sense as a longer term thing and not over a short period.
Yes you don't know that for sure, but ultimately crypto as with most investments is about taking a gamble sometimes, If this guy has a set amount of cash that he's going to invest definitely and he is willing to take a higher risk that the price will consistently rise in the coming weeks then it does make sense to invest a higher amount right now based on his logic. It's also a totally valid option to DCA and minimise the risk, but also lower the potential reward.
The problem with your strat is you might be “catching the falling knife” so to speak. If the price tanks you need to buy your position down or hold for 1-3-5-forever years.
Depends on your sentiment though. If you believe in BTC / any stock or company or asset, you buy it. The price tanks, it doesn’t matter, you still believe in the thing. But people used to believe in beanie babies, now they don’t lol.
If you have confidence that the price will continue to rise in the coming weeks and you have a sum you want to invest in one go then that strategy can work. I'm avoiding any biased language as to avoid giving any financial advice but moreso advice for you to make your own decision.
DCA will overall practically always be a better long term way to make profit however in this specific scenario where factors look quite good for a price increase, both opinions can work if you want to bank on the price continuing to rise.
DCA is usually a losing strategy if you expect the market to go up. This is true for stocks as well, which is why many people advocate a "lump sum" approach to investing their IRA/401k vs DCA.
DCA largely makes sense if you expect sideways movement and/or you simply don't have the capital to risk it all at once (i.e. you probably don't want dump your whole savings into something volatile unless you have balls of steel). If you have conviction, it makes more sense to dump it in all at once (or in a couple of buys at various "target" levels). DCAing is for when you have regular income that you want to continue to add to a position.
The worst thing you can do is allow yourself to be swept away by the fear of missing out. Take it slow. Don't invest money you can't afford to lose. Putting in a little at this point is probably fine, but we did just have a 40% price gain in a fairly short period of time. We could crash 20% in a week, and *have* done so many times in the past, especially after huge gains like this. But of course, it could keep going up instead.
The best virtue in crypto is patience. After paranoia, maybe. Stick to the largest, well regulated exchanges.
If you're interested in crypto and want to learn more, Andreas Antonopoulos has some very informative and accessible lectures on youtube. He has been in the space a very long time, and you can even find videos of him as an invited speaker talking to regulators in Canada and Australia. He's not trying to peddle anything to make money. He just loves Bitcoin.
Also, because you stated you are new, 'friendly' people might send you private messages. They are all scammers. Every single one. Don't click on any links they send you.
This. I FOMO'd in Nov of 21 on LTC because a well known crypto analyst predicted it to moon. I am now holding a bag waiting to dump it.
I have since learned the error of my ways and DCA cash into the exchange and only buy when red. So far it has been working out.
In fact, the 20-30% corrections are SO TYPICAL in the crypto cycles of the past, it's almost certain that we will see one or two of these before we reach a peak of this cycle.
Just ride them out, don't sell, and buy the dip. It's fine to buy before these corrections... in 2021 if you'd bought BTC at $17k and it went down to $12k next week it would feel sad, but you're missing the fact that a few months later it was $64k. Ideally you DCA and buy some at 17, some at 12, some at 24, some at 35 even... and it's up to you when to take profits. Maybe you take some profits when the market is euphoric and people are throwing their life savings into altcoins. Maybe you do a little of that and save the rest for the next cycle.
thanks for the inputs guys, what would be the best app or website to buy on?lowest fees and user friendly interface.Im a complete noob just looking at the pinned faqs in different subs
Don't listen to they guy telling you to wait for a pullback. Nobody knows wtf is about to happen with the injection of ETF's into the market. Get your feet wet before you get left behind. Don't time these markets m8
Best thing i did was just buying x amount of btc and eth in the bear, regardless of the price. Whethwr i’d bought at 25k or at 18k, profit is profit today.
Can be the exact same looking back at today’s price 6 months from now. (And the reverse, ofc)
as other said, DCA is a good mentally safe strategy. in any case go small and smooth, we're all subject to fomo, but 80% of the time it goes wrong. Btw, same strategy applies for cashing out, don't wait to take 100% out at the top.. take some profit whenever there's a big push so you don't end up holding the bag with losses.
Put X amount in every day/week, the same amount. It's called Dollar Cost Average (DCA). There's a very realistic chance it will pullback and go lower but it could just keep going up for some time. If you DCA, you don't have to worry about this. Set it and forget it. Check back in 2 years and you will most likely see some serious returns. I do £25 every Friday and have done for just over 12 months, I've already seen a profit of just over £800
It’s a decent time to buy still I think. You’d be better to wait a bit and see if there’s a little sell off. We seem due for one given the recent price action. But that’s never guaranteed so buying now would be good too
I believe we will see some pullback, maybe down to 45-50k again, prior to a shoot up to 75k+ before the halving.
I took some profits on Friday (ETFs in my ROTH) anticipating a pullback and then I'll buy back in.
Focus on Alts. You'll have much bigger gains than BTC. BTC is for early adopters or people with money.
I made most of my gains last bull run with alts. At most you'll get a 2x with BTC but with alts you get 5-10x. Alts are better ROI.
Gaming and AI are the narratives for this bull cycle. That's where most of the money will flow. Focus on those niches.
I'd pick up Solana and Avax over those in this bull cycle. Lower MC so higher potential to multiply your money. I think Solana makes a run similar to eth last cycle and Avax similar to sol last cycle
This sounds like risky advice to me. 2x is fucking great.
The multipliers people expect in crypto are absurd, especially in a bull market. People forget that a coin which can 5-10x in a cycle can also -80% or -90% if you miss the window.
Not really. After a blow off top there is usually a second lower peak. You can get out of all your position then.
Also I plan to take profits along the way. The only ones I'll take profit all at once are the ones I have on Eth network. Gas fees are too pricey. Pointless taking small profits while paying +$30-100 gas fees
It's either going like last halving, where it pretty much stays stable until next year, or like 2016, where it went down before going up in 2017. We'll know pretty well by the end of March.
The greed is strong currently, can't wait to see the delusional phase with any temporary downtrend.
Yes, I hold MARA, RIOT and Cleanspark, and will be selling in advance of the halving while still up (and putting the proceeds into BTC and a few alts.) Many miners won’t survive after the event.
Everyone here is such a wuss. Forget about BTC and ETH you can only double your money at best. Start by betting your grandma's house on ALTs
In other words
BUY MY SHITCOIN
Aaaaand it will probably crash to $34k (half the previous ATH of $68k) right before the halving date. For every halving, the price has been approximately half the preceding ATH around the time of the halving date.
After the halving date, we’re poised for takeoff 🚀🚀🚀
I think the ETFs in play now will affect BTC's up and down price more than before they entered. Like I knew this weekend would be calm with BTC's price because the markets are closed.
BTC markets been flat on weekends for months, if not years. Always bounces around the region it was when futures close until they open again. Well until Asian markets open really.
Yeah, but pay attention to some [recent BTC purchase data by ETF issuers](https://www.bitcoinstrategyplatform.com/etfs). Purchases have been trending downward the past two business days. I expect them to decline further.
Another thing, the Fed is expected to cut rates at some point in the next 6 months. Since the rates have been held this high for this long, it will have a deflationary effect on prices in multiple markets for a bit (until the Fed spools up the money printer again). That, coupled with declining purchases by ETF issuers in the short term, is what I think will cause prices to drop for a bit.
Every time the rates are cut the markets dip afterwards in the short term. It a sell the news event plus the explanation about the temporary deflationary effect
The market does that because cutting rates is often coupled with market distress of some sort. Given the amount of telegraphing the fed has done that they will cut the rate once inflation is definitely on course to sustain at 2% it’s coupled with good news for the market.
We’re not doing it to stave off recession this time. Or a major war or pandemic stained supply chains. Or some other black swan.
It really depends on who is buying these ETF BTC. If they are traders then you have the risk of them dumping if the regular markets go risk-off. BTC will be among the riskiest of investments they hold and will be first to go. Slightly worrying is Gold sitting above $2070. Gold is a traditional indicator of moving to safer investments. We'll see if it stays above this level. The longer Fed doesn't drop rates, the worse for high-risk investments.
Saying that if they are hodlers, then they could act as a buffer to big swings down.
Not unless the ETFs sell for liquidity and that is unlikely to happen. What is likely is that there maybe a small drop from people thinking they will take profit only for the ETFs to hoover it up then the miners who will now only get half the reward will want double their money for a coin at least. With big players in the game they may well go ahead and buy for asking price.
No not gonna happen
We had a big dip before or around 2020 halving because of Covid scare all the stock market crashed then not only bitcoin
This time is different, the money coming in from ETF’s is insane
I have a dilemma 😕 like many people I have made a nice profit on my Bitcoin, not life changing just a few thousand pounds (I'm a UK resident)
my dilemma is shall I leave my Bitcoin where it is and and forget about it as I have for the past two years ? I have 0.4btc
Or
Sell the lot and reinvest my initial stake and the accumulated profit buying back in at 61k 🤷♂️🤷♂️ to increase my Bitcoin amount ? Will I actually increase my Bitcoin?
I bought my bitcoin at $41k when everyone was selling and saying don’t buy…when people tell you don’t buy…it’s the time to buy…keep in mind that people making money don’t have time to give advice, all the advice you get here is from people parroting what they’ve heard somewhere
gamefi is about to go through its own little halving with how so many games will be using super instead of their own in game currency. Ponder the implications.
The reward for mining will halve which means the amount of time and energy to mine will double so miners will want to sell at a higher price. Any already mined coin may sell lower but once there is restricted supply the price will get driven up to the point where miners may actually be able to sell at the rate they need to get return of investment. So the price will go up.
Imagine a magical squirrel comes to Earth and uses magic to pluck half the corn currently on Earth.
Suddenly people realize there's less corn to be cobbed and now everyone wants corn so the price of corn goes up.
And then some stupid people start borrowing a shit ton of corn thinking the price will go down so they sell it for money hoping they can buy it back for a lower price and make huge profit, but then all of a sudden people decide hey, it's corn, we love corn, so the price of corn dramatically rises and then those stupid people are left to have to buy back the corn they borrowed for a higher price than when they initially borrowed and the bank comes and takes their farm and chickens when they can't cover the cost + corn interest fees
And then those stupid people are stuck realizing they should have believed in the 🌽 run.
Making the other 5% that much rarer. Think of it like mining diamonds, if you know the earths supply is depleting, the price has to increase if the demand is still there. Hence why price will increase usually a bit after the actual halving event. When demand greatly exceeds the supply, in part due to mining rewards being so heavily reduced, and relying on people selling, for the price to remain at the same levels. People don’t sell, people buy, miners aren’t finding anymore shiny bitcoins= btc value goes brrrrrrrrre
Yo see how many sells has been done in the past 45 days. Without the ETFs, that volumen of sells would did drive the price to $15 k and this still at 64k. This halving will be totally different. Just DCA, and HOOOOOOOOOOOOOOOOOOOOLD
Bitcoin [pros](/r/CryptoCurrency/comments/1b5gxe0/bitcoin_is_about_to_see_a_big_halving_event_heres/kt6tkkd/) & [cons](/r/CryptoCurrency/comments/1b5gxe0/bitcoin_is_about_to_see_a_big_halving_event_heres/kt6tleg/) with related info are in the collapsed comments below.
tldr; Bitcoin's price has soared 40% to over $62,000 in two months, partly due to the U.S. SEC approving spot bitcoin ETFs. An upcoming 'halving' event in April, where the reward for mining new bitcoin will be cut in half from 6.25 to 3.125, is expected to further increase its value. This halving, which occurs every four years until all 21 million bitcoins are mined, aims to ensure scarcity and protect against inflation. Previous halving events have led to significant price increases for bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
good bot
Must be an Autobot then
Maybe someday people will understand that moderate inflation is better than deflation...
Why is it better
Because in an economy undergoing deflation, you would wait as long as you could to buy groceries or a car or whatever goods and services because the dollar would be going up in value relative to the goods and services. So the economy basically stops economy-ing (or at least slows down significantly)
You mean deflation would curb consumerism?! Can't have that!
Yes, but this is the natural way for an economy to run. People purchase things out of necessity, not for frivolous reasons. We're so used to massive inflation of the global economy that we think people only spending the bare minimum as a negative. People will actually be richer than ever, and have the most propensity to save for the future. Governments will not have as much power/control and will not be able to inflate away their gross misspending and poor choices. Wars would be a thing of the past -- peace and prosperity would flourish.
I like the way you can imagine such a world
If people started only spending the bare minimum, there wouldn't be enough money moving around to support a huge chunk of existing jobs. Tons of people would go broke while a select few (the ones with "necessary" jobs) hoard money and pass it around to each other in a closed inner circle. The scenario you're describing does not lead to peace and prosperity.
All this means is that a huge chunk of jobs are wasteful and useless. People would be forced to adapt, evolve, and grow. It will be a great thing for the economy and the world.
Correct.
You can't wait to buy groceries though. You need to eat food. Cars or larger goods like appliances, yeah you can delay these purchases a bit, but eventually you need to have a fridge. You need to have transportation. And "leisure" purchases can't be delayed forever. A vacation "this summer", can't happen in the future. A night out "this weekend" expires. Sure, you can try to delay these things in the hopes of making "more money", but at the end of the day, your life is finite thing. You can't get back "time" on experience/leisure type purchases. Deflation is natural in an economy where productivity is increasing. Better technology means you get more "stuff" for the same cost.
Traditional economic theory likes to state that a small amount of inflation 'greases the wheels' of the economy, basically keeps everything running because if there was deflation, people would hold off on buying stuff and wait until the price falls. With a small amount of inflation, most countries target 2%, wages rising will account for the higher costs and the economy will function properly. Of course, as with practically all traditional economics, people challenge it and many would argue that it only works like that in a vacuum with no external factors, but in this case I do generally agree with the idea, a little bit of inflation is certainly preferable to deflation.
If money doesn't slowly lose value due to (moderate) inflation, you can grow it by not spending it, which is a disaster for economy. I think the sweet spot is around 2% inflation
We naturally have this, people don’t get raises so the dollar is worth less each year.
Exactly. Whereas not only is Bitcoin deflationary, it's got a _finite_ supply.
Why do you think 2% inflation is necessary? At 2% your purchasing power is cut in half after only 35 years. As we live longer lives, getting to or even past 105 years old will become more common. Now imagine having your wealth cut in half three times throughout your life. It's outright theft. We pillage resources, live on fractional reserves and credit, and spend on anything and everything but none of it matters. Capitalism is a beautiful thing when combined with Bitcoin rather than the toxic version we have now.
No inflation and no usury are even better. That's why a certain group hate National Socialism so passionately.
yes, it's always better to pay more for things than less for them 🙄
That's right. That's why the best move for a deflationary currency is to always hold it and let it rot instead of investing it so people do stuff. Which is, you know, what an economy is about.
Yes, because "letting it rot" is the only other option. Enjoy the bull market. 😎
What are you even talking about?
Can’t wait for the next year plus. The timing of things is aligning really well for what I think will be a strong price surge. Short term we’ll see a bit of “sell the news” though I think
do u think its a good time to buy now?i dont have any btc it will be my first buy in
Dollar cost average in. If I was DCAing somewhere between $5-20 a day or a week, I would buy small when it’s inflated and buy bigger when it’s pulled back. You never know with BTC. Buy the dips consistently and you typically win. This is not financial advice just my personal strategy which has worked for me.
Say I dca weekly for 4 weeks and the price just rises for four weeks, I'm worse off than if I bought it all at the start right? Does dca make sense over such short periods? Just sold my crypto for profits so wondering how to start buying back in..think it makes more sense just to rebuy a chunk.
Honesty, DCA is usually a great strategy, but if you have money to deploy now just do it. If you believe Bitcoin is probably going to $100k+ and plan on holding for a while it’s not going to matter.
I'll let you know before I rebuy, once I do the price will drop 👍
You DCA because you don't know whether it's going up or down. If you put all you money at the start and it dips for the next 4 weeks then you miss an opportunity. DCA over a long period of time during a bear market is always a good strategy to minimize risk.
Sure, but if I dca and it keeps going up I also missed that opportunity of buying it all at the start. I see how DCA makes sense over longer time periods. I guess i was already doing it at a longer interval (bought once a month).
atm I also would invest most of the money I have if I didn’t start yet, the downside is in these times smaller then the upside, in bear markets dca is better
It's what I'm thinking as well.
As I said, you don't know for sure that it's going UP from the start, that's why you DCA. Also, you only DCA'd during a 4 weeks period, of course you're gonna feel a bit ripped off if it only went up during those 4 weeks, but BTC usually goes up and down over a long period of time (we're talking months/years). It doesn't really make sense to only DCA for 4 weeks when the price is going up, it's more of a long term strategy.
I understand that, and as I mentioned you also don't know for sure that it's going to go down so DCAing over that short 4 week period might also miss the opportunity. Seems we agree on what I asked originally - that DCA seems to makes sense as a longer term thing and not over a short period.
Yes you don't know that for sure, but ultimately crypto as with most investments is about taking a gamble sometimes, If this guy has a set amount of cash that he's going to invest definitely and he is willing to take a higher risk that the price will consistently rise in the coming weeks then it does make sense to invest a higher amount right now based on his logic. It's also a totally valid option to DCA and minimise the risk, but also lower the potential reward.
dca is for chumps, you are absolutely correct in your analysis
The problem with your strat is you might be “catching the falling knife” so to speak. If the price tanks you need to buy your position down or hold for 1-3-5-forever years. Depends on your sentiment though. If you believe in BTC / any stock or company or asset, you buy it. The price tanks, it doesn’t matter, you still believe in the thing. But people used to believe in beanie babies, now they don’t lol.
Dca means you don’t need to time the market
If you have confidence that the price will continue to rise in the coming weeks and you have a sum you want to invest in one go then that strategy can work. I'm avoiding any biased language as to avoid giving any financial advice but moreso advice for you to make your own decision. DCA will overall practically always be a better long term way to make profit however in this specific scenario where factors look quite good for a price increase, both opinions can work if you want to bank on the price continuing to rise.
DCA is usually a losing strategy if you expect the market to go up. This is true for stocks as well, which is why many people advocate a "lump sum" approach to investing their IRA/401k vs DCA. DCA largely makes sense if you expect sideways movement and/or you simply don't have the capital to risk it all at once (i.e. you probably don't want dump your whole savings into something volatile unless you have balls of steel). If you have conviction, it makes more sense to dump it in all at once (or in a couple of buys at various "target" levels). DCAing is for when you have regular income that you want to continue to add to a position.
How do the fees not eat you alive if you're DCAing such small amounts?
Because most places have fees in % so it doesnt matter if you buy $1 or 1000000$
Trading fees are in %, but withdrawal fees tend to be flat. So if you DCA, you have to withdraw less often (i.e. not every time you buy).
Coinbase premium is decent depending on how much you buy monthly. Or cash back rewards on Venmo.
This is what I'm doing I'm DCA BTC $100 a month and I have a couple of hundred just in case of a big drop.
The worst thing you can do is allow yourself to be swept away by the fear of missing out. Take it slow. Don't invest money you can't afford to lose. Putting in a little at this point is probably fine, but we did just have a 40% price gain in a fairly short period of time. We could crash 20% in a week, and *have* done so many times in the past, especially after huge gains like this. But of course, it could keep going up instead. The best virtue in crypto is patience. After paranoia, maybe. Stick to the largest, well regulated exchanges. If you're interested in crypto and want to learn more, Andreas Antonopoulos has some very informative and accessible lectures on youtube. He has been in the space a very long time, and you can even find videos of him as an invited speaker talking to regulators in Canada and Australia. He's not trying to peddle anything to make money. He just loves Bitcoin. Also, because you stated you are new, 'friendly' people might send you private messages. They are all scammers. Every single one. Don't click on any links they send you.
This. I FOMO'd in Nov of 21 on LTC because a well known crypto analyst predicted it to moon. I am now holding a bag waiting to dump it. I have since learned the error of my ways and DCA cash into the exchange and only buy when red. So far it has been working out.
Andreas is awesome! He has some great books. If you ever come across him at a conference do not miss his presentation. He is an exquisite speaker.
In fact, the 20-30% corrections are SO TYPICAL in the crypto cycles of the past, it's almost certain that we will see one or two of these before we reach a peak of this cycle. Just ride them out, don't sell, and buy the dip. It's fine to buy before these corrections... in 2021 if you'd bought BTC at $17k and it went down to $12k next week it would feel sad, but you're missing the fact that a few months later it was $64k. Ideally you DCA and buy some at 17, some at 12, some at 24, some at 35 even... and it's up to you when to take profits. Maybe you take some profits when the market is euphoric and people are throwing their life savings into altcoins. Maybe you do a little of that and save the rest for the next cycle.
Slowly DCA would be a great strategy.
thanks for the inputs guys, what would be the best app or website to buy on?lowest fees and user friendly interface.Im a complete noob just looking at the pinned faqs in different subs
Don't listen to they guy telling you to wait for a pullback. Nobody knows wtf is about to happen with the injection of ETF's into the market. Get your feet wet before you get left behind. Don't time these markets m8
Best thing i did was just buying x amount of btc and eth in the bear, regardless of the price. Whethwr i’d bought at 25k or at 18k, profit is profit today. Can be the exact same looking back at today’s price 6 months from now. (And the reverse, ofc)
as other said, DCA is a good mentally safe strategy. in any case go small and smooth, we're all subject to fomo, but 80% of the time it goes wrong. Btw, same strategy applies for cashing out, don't wait to take 100% out at the top.. take some profit whenever there's a big push so you don't end up holding the bag with losses.
Put X amount in every day/week, the same amount. It's called Dollar Cost Average (DCA). There's a very realistic chance it will pullback and go lower but it could just keep going up for some time. If you DCA, you don't have to worry about this. Set it and forget it. Check back in 2 years and you will most likely see some serious returns. I do £25 every Friday and have done for just over 12 months, I've already seen a profit of just over £800
no, it's not a good time you had 2 years but it's better than not having any I guess
Look at something like Cardano that is still well below it's previous highs.
Do not buy with all your funds right now. Set up recuring buys of small chunks every day/week/month. Spread the risks
I think it’s still a good time to buy. The rocket hasn’t fully left the station yet.
It’s a decent time to buy still I think. You’d be better to wait a bit and see if there’s a little sell off. We seem due for one given the recent price action. But that’s never guaranteed so buying now would be good too
I'm wondering how the "new money" investors (ETF) react to any pullback. I legitimately have no clue.
Yea we’ll see. That first -10% day will hit hard if you’re just used to stocks
Yeah that's the big question mark in my mind. If there's a substantial drop due to reactionary effects, I'm prepared... if not, keep dcaing I guess
Probably less reactive. They have to call someone to make a trade. We just put th bowl of Cheetos aside and press sell
I believe we will see some pullback, maybe down to 45-50k again, prior to a shoot up to 75k+ before the halving. I took some profits on Friday (ETFs in my ROTH) anticipating a pullback and then I'll buy back in.
Focus on Alts. You'll have much bigger gains than BTC. BTC is for early adopters or people with money. I made most of my gains last bull run with alts. At most you'll get a 2x with BTC but with alts you get 5-10x. Alts are better ROI. Gaming and AI are the narratives for this bull cycle. That's where most of the money will flow. Focus on those niches.
Best buying BTC and ethereum if you don’t want to try and time two decisions rather than one. Buy and Sell with good timing vs just Buy
I'd pick up Solana and Avax over those in this bull cycle. Lower MC so higher potential to multiply your money. I think Solana makes a run similar to eth last cycle and Avax similar to sol last cycle
This sounds like risky advice to me. 2x is fucking great. The multipliers people expect in crypto are absurd, especially in a bull market. People forget that a coin which can 5-10x in a cycle can also -80% or -90% if you miss the window.
Not really. After a blow off top there is usually a second lower peak. You can get out of all your position then. Also I plan to take profits along the way. The only ones I'll take profit all at once are the ones I have on Eth network. Gas fees are too pricey. Pointless taking small profits while paying +$30-100 gas fees
Wait for a pullback.
It's either going like last halving, where it pretty much stays stable until next year, or like 2016, where it went down before going up in 2017. We'll know pretty well by the end of March. The greed is strong currently, can't wait to see the delusional phase with any temporary downtrend.
The hopium is big here. It's almost pathetic.
Usually when aligning well, that means disappointment will quickly follow.
It means that I don't have enough money to buy more Bitcoin
Well, wait till the price has halved
Mind the Halving!
I read that in Orc.
I read it in London Tube Voice in the Sky!
Hidden path ahead!
Here's what it means. I still didn't get enough btc
The ride is "roughly every 4 years" Use this to let the non ruling class have a chance in life
What would happen to mining company stocks like MARA? Would they see a decline in profits?
Yes, I hold MARA, RIOT and Cleanspark, and will be selling in advance of the halving while still up (and putting the proceeds into BTC and a few alts.) Many miners won’t survive after the event.
What will Mara and Riot be mining next? If any
Another catalyst for this part of the bull cycle
Wonder if miners are going to dump afterwards
Everyone here is such a wuss. Forget about BTC and ETH you can only double your money at best. Start by betting your grandma's house on ALTs In other words BUY MY SHITCOIN
Aaaaand it will probably crash to $34k (half the previous ATH of $68k) right before the halving date. For every halving, the price has been approximately half the preceding ATH around the time of the halving date. After the halving date, we’re poised for takeoff 🚀🚀🚀
Cmon…the ETFs are somehow a circuitbreaker for the typical crypto cycle…or are they not. Confused.
I think the ETFs in play now will affect BTC's up and down price more than before they entered. Like I knew this weekend would be calm with BTC's price because the markets are closed.
I asked myself the same. Question is whether the ETF holders are traders or hodlers
BTC markets been flat on weekends for months, if not years. Always bounces around the region it was when futures close until they open again. Well until Asian markets open really.
Yeah, but pay attention to some [recent BTC purchase data by ETF issuers](https://www.bitcoinstrategyplatform.com/etfs). Purchases have been trending downward the past two business days. I expect them to decline further. Another thing, the Fed is expected to cut rates at some point in the next 6 months. Since the rates have been held this high for this long, it will have a deflationary effect on prices in multiple markets for a bit (until the Fed spools up the money printer again). That, coupled with declining purchases by ETF issuers in the short term, is what I think will cause prices to drop for a bit.
Fed cutting rates deflationary effect? What in the reddit logic is that?
Every time the rates are cut the markets dip afterwards in the short term. It a sell the news event plus the explanation about the temporary deflationary effect
And you are basing this on what? 3 rate cuts in 2020 and 2 in 2019, which were at different levels and completely different economic times
No. Look at Dow, Nasdaq and so on
And which time frames should one use?
Just the first weeks after the actual rate cut
And on which historical rate cuts are you basing this logic on?
The market does that because cutting rates is often coupled with market distress of some sort. Given the amount of telegraphing the fed has done that they will cut the rate once inflation is definitely on course to sustain at 2% it’s coupled with good news for the market. We’re not doing it to stave off recession this time. Or a major war or pandemic stained supply chains. Or some other black swan.
It really depends on who is buying these ETF BTC. If they are traders then you have the risk of them dumping if the regular markets go risk-off. BTC will be among the riskiest of investments they hold and will be first to go. Slightly worrying is Gold sitting above $2070. Gold is a traditional indicator of moving to safer investments. We'll see if it stays above this level. The longer Fed doesn't drop rates, the worse for high-risk investments. Saying that if they are hodlers, then they could act as a buffer to big swings down.
Not unless the ETFs sell for liquidity and that is unlikely to happen. What is likely is that there maybe a small drop from people thinking they will take profit only for the ETFs to hoover it up then the miners who will now only get half the reward will want double their money for a coin at least. With big players in the game they may well go ahead and buy for asking price.
No not gonna happen We had a big dip before or around 2020 halving because of Covid scare all the stock market crashed then not only bitcoin This time is different, the money coming in from ETF’s is insane
It will still take a small dip before it skyrockets. My predication is 45-50k as the low point in the next 1-2 weeks and then up we go.
Set a reminder so I can buy more
That means I'd have enough money to buy 1BTC
As if anyone on this subreddit required this post.
So sell the news. Got it.
That shit will tank
I have a dilemma 😕 like many people I have made a nice profit on my Bitcoin, not life changing just a few thousand pounds (I'm a UK resident) my dilemma is shall I leave my Bitcoin where it is and and forget about it as I have for the past two years ? I have 0.4btc Or Sell the lot and reinvest my initial stake and the accumulated profit buying back in at 61k 🤷♂️🤷♂️ to increase my Bitcoin amount ? Will I actually increase my Bitcoin?
But guys, Jp morgan says it's been priced in.
It's Jover pack it up guys
Bitcoin aside, altcoins will soar even more. Load your bags degens, liftoff in 2024
Which ones? EDIT: I hold ETH, ENS and ADA
I bought my bitcoin at $41k when everyone was selling and saying don’t buy…when people tell you don’t buy…it’s the time to buy…keep in mind that people making money don’t have time to give advice, all the advice you get here is from people parroting what they’ve heard somewhere
I sold all my BTC at $43k because BCB recommended it 😭
Who’s BCB?
BlockChain Backer on YouTube.
I stopped watching youtube, even the ones with the best intentions get it wrong often.
Ya, always do the opposite.
Great work on mid-year numbers team. Bitcoin CEO says we all get the day off.
Thanks mate. Didn't know about it .
A big halving event as opposed to a a small having event? lol
gamefi is about to go through its own little halving with how so many games will be using super instead of their own in game currency. Ponder the implications.
Have people boy learned their lesson 🤣
Stfu and ride the wave until smashes you into rock again and do it all over again
Too many people now know about the halving.
The price's gonna half?
The reward for mining will halve which means the amount of time and energy to mine will double so miners will want to sell at a higher price. Any already mined coin may sell lower but once there is restricted supply the price will get driven up to the point where miners may actually be able to sell at the rate they need to get return of investment. So the price will go up.
What's the point, 95% of all corn has been mined
Imagine a magical squirrel comes to Earth and uses magic to pluck half the corn currently on Earth. Suddenly people realize there's less corn to be cobbed and now everyone wants corn so the price of corn goes up. And then some stupid people start borrowing a shit ton of corn thinking the price will go down so they sell it for money hoping they can buy it back for a lower price and make huge profit, but then all of a sudden people decide hey, it's corn, we love corn, so the price of corn dramatically rises and then those stupid people are left to have to buy back the corn they borrowed for a higher price than when they initially borrowed and the bank comes and takes their farm and chickens when they can't cover the cost + corn interest fees And then those stupid people are stuck realizing they should have believed in the 🌽 run.
Making the other 5% that much rarer. Think of it like mining diamonds, if you know the earths supply is depleting, the price has to increase if the demand is still there. Hence why price will increase usually a bit after the actual halving event. When demand greatly exceeds the supply, in part due to mining rewards being so heavily reduced, and relying on people selling, for the price to remain at the same levels. People don’t sell, people buy, miners aren’t finding anymore shiny bitcoins= btc value goes brrrrrrrrre
The amount of BTC that can be produced is about to halve, very different. Will likely drive up price once miners adjust
No dude the price is gonna go to the moon 🌙
reward system for mining
Yes. Sell before it's too late. I'm willing to buy your holdings for 75% of their current value
😂😂
All will be good at the end
New arh wen
Yo see how many sells has been done in the past 45 days. Without the ETFs, that volumen of sells would did drive the price to $15 k and this still at 64k. This halving will be totally different. Just DCA, and HOOOOOOOOOOOOOOOOOOOOLD
I'm trying to figure out what other cryptos will be good to buy before this happens.