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re: Official CryptoTalk Thread

Posted on 12/4/23 at 1:28 pm to
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81712 posts
Posted on 12/4/23 at 1:28 pm to
quote:

My question is why the delay? Why is it year and a half after a halving before it takes off?

Snowball effect
Posted by BottomlandBrew
Member since Aug 2010
28448 posts
Posted on 12/4/23 at 4:25 pm to
quote:

so why is it (supposedly) going to take until winter of 2025 for the price to really skyrocket?


I guess a related analogy would be fed rate increases/decreases. It takes time to see results. The market has to work through some things and it takes a little while to see those results.


Posted by tigerpawl
Can't get there from here.
Member since Dec 2003
22628 posts
Posted on 12/5/23 at 11:36 am to
Attention: Chicken

I think a price-picking contest would be great to pick the closest price of Bitcoin at 23:59:59 on 12/31/2023.

Posted by I Love Bama
Alabama
Member since Nov 2007
38311 posts
Posted on 12/5/23 at 11:45 am to
We are already way past my guess of 40k this year. I really can not imagine what happens when the ETF is live.

At the flip of a switch, trad fi will have access to the rarest commodity to ever exist.

Could be a nothing burger or could be a historical event.
Posted by LordSaintly
Member since Dec 2005
40622 posts
Posted on 12/5/23 at 11:49 am to
quote:

I really can not imagine what happens when the ETF is live.



Mother of god.

After a while, I also think BTC dominance will get to insane levels, like 60-70%. I don't know if alts will follow BTC much, but we'll see.
Posted by thatguy777
br
Member since Feb 2007
2493 posts
Posted on 12/5/23 at 12:27 pm to
gotta think we continue the run up into the ETF approval, which will be a sell the news event. Then after they go live and money starts flowing in, along with the halvening, things will start to ramp back up. That is how I see it playing out at least.
Posted by 98eagle
Member since Sep 2020
2632 posts
Posted on 12/5/23 at 1:05 pm to
quote:

gotta think we continue the run up into the ETF approval, which will be a sell the news event. Then after they go live and money starts flowing in, along with the halvening, things will start to ramp back up. That is how I see it playing out at least.


That a good way to look at it. I actually hope there is no pullback event though for "sell the news". There's a decent chance in my opinion that the price will just continue upward on a parabolic path since there are so many Assett Management companies in the US and abroad, plus governments that are going to be fighting for every Bitcoin that goes for sale on the exchanges, plus individuals FOMOing. Just take the Qatar Sovereign Wealth Fund as an example. It is rumored that they want to buy up to $500 billion in Bitcoin. They are going to have an almost impossible time doing that without causing the price of Bitcoin doubling from where it is now without any other buyers. So I can see Bitcoin going parabolic and once it starts it could be a long ride up with only minor dips. People, countries and Asset Management companies are likely on the verge of a major long term FOMO event.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81712 posts
Posted on 12/5/23 at 3:34 pm to
quote:

gotta think we continue the run up into the ETF approval, which will be a sell the news event. Then after they go live and money starts flowing in, along with the halvening, things will start to ramp back up. That is how I see it playing out at least.

Pretty much exactly where my head is right now
Posted by thatguy777
br
Member since Feb 2007
2493 posts
Posted on 12/5/23 at 3:38 pm to
I see what you’re saying and that’s certainly possible. But they won’t be buying 500 billion at once, that would likely take a long period of time if they are prudent about it. If that even comes to fruition. I am no expert on ETF approval but I’d imagine there would be some time between approval and funds going live then those funds recruiting money in. These are all great things for bitcoin, just think it will be end of next year early 25 until things really ramp up.

I’m a long term btc bull fyi
Posted by TigerDeBaiter
Member since Dec 2010
10485 posts
Posted on 12/5/23 at 3:41 pm to
quote:

At the flip of a switch, trad fi will have access to the rarest commodity to ever exist.


They already do.



There are trusts, sympathy plays (miners), MSTR and spot ETFs in other countries. It’s not going to be this laser beam to $1,000,000 event. If anything the big players will work to suppress the price and short it to accumulate.

Tether needs their legs chopped off first though.
Posted by WG_Dawg
Member since Jun 2004
88676 posts
Posted on 12/5/23 at 3:44 pm to
Let me ask this. Looking at the price over the last deace, it looks like a clear pattern of 1) halvening event every 4 years, 2) about 18 months after the halvening we're at a new ATH 3) about a year after THAT, it has massively dropped off again. I am ignorant on this...what is it that causes such an enormous pullback after the huge runup, and can we expect that to continue to happen in the future?

Posted by I Love Bama
Alabama
Member since Nov 2007
38311 posts
Posted on 12/5/23 at 4:31 pm to
quote:

and can we expect that to continue to happen in the future?


You should always be mentally prepared for major pull backs and moon shots with Bitcoin.

We won't get any sort of price stability until we are well into the 6 figures.
Posted by TigerDeBaiter
Member since Dec 2010
10485 posts
Posted on 12/5/23 at 4:36 pm to
45k wick on CB. No brakes…

Posted by BLM
ATL
Member since Oct 2011
762 posts
Posted on 12/5/23 at 7:12 pm to
I hope they do suppress it so I can keep my monthly buy going!
Posted by TigerDeBaiter
Member since Dec 2010
10485 posts
Posted on 12/5/23 at 8:23 pm to
Go back and look what happened after the CME futures pump to 20k

This won’t be any different IMO.

It’s still a greater fools market.

I know, maxis… hard money, you’re saving the world, etc etc. but until you do… it’s just speculation. It’s ok.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81712 posts
Posted on 12/5/23 at 9:08 pm to
How it started

quote:

I loaded up on MSTR calls and various miner calls with Dec 2025 expiry so I will probably sell those for a hefty profit before touching my BTC. $100k bitcoin probably means each one of my MSTR options would be worth $100k-$120k each.



quote:

I have a large chunk of calls ending December 2025 to capture the next run but I recently went pretty balls deep in RIOT/MARA calls with January 19, 2024 expiration to play the ETF pump. So far they are up about 10x what Bitcoin is up in the same time period. This is fun (until ETF is delayed further and they expire worthless)



How its going


Posted by I Love Bama
Alabama
Member since Nov 2007
38311 posts
Posted on 12/6/23 at 6:13 am to
Que rico papi
Posted by RATeamWannabe
Baton Rouge
Member since Sep 2009
26009 posts
Posted on 12/6/23 at 8:10 am to
idk what to say other than I hope you take profits from that
Posted by TigerDeBaiter
Member since Dec 2010
10485 posts
Posted on 12/6/23 at 9:59 am to
This. Fantastic trade.

It’s a bit crowded now. Expect them to squash premiums.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81712 posts
Posted on 12/6/23 at 12:56 pm to
quote:

idk what to say other than I hope you take profits from that

I was planning on holding the Jan 2024 calls through the ETF announcement however, I was not expecting the gains to be this drastic this quickly. I do plan on taking some profits off the top at some point soon and letting the rest ride through my originally planned strategy of mid January.

The 2025 calls are all going to ride since there is no rush there. Plenty of time for BTC to go above the current price in 2024/2025 even if there is strong macro headwinds
This post was edited on 12/6/23 at 12:57 pm
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