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re: Official CryptoTalk Thread
Posted on 3/12/24 at 1:18 pm to beaverfever
Posted on 3/12/24 at 1:18 pm to beaverfever
I consider myself somewhat of a TA-enjoyer.
If this were on the other side of the cycle, I would probably be selling. Higher than normal volume on this dip.
But we’re not, we’re on the front end of the cycle. I won’t be selling anything, only buying if it gets below a certain price point to justify the risk to me.
If this were on the other side of the cycle, I would probably be selling. Higher than normal volume on this dip.
But we’re not, we’re on the front end of the cycle. I won’t be selling anything, only buying if it gets below a certain price point to justify the risk to me.
1
Posted on 3/12/24 at 1:51 pm to Hateradedrink
quote:This is probably the correct approach
If this were on the other side of the cycle, I would probably be selling. Higher than normal volume on this dip.
But we’re not, we’re on the front end of the cycle. I won’t be selling anything, only buying if it gets below a certain price point to justify the risk to me.
Posted on 3/12/24 at 2:08 pm to TigerTatorTots
200k this cycle? 100k BTC may show a little resistance and a pullback, but will eventually be blown through.
Posted on 3/12/24 at 2:25 pm to tenderfoot tigah
The cyclical moves after breaking previous ATHs have been contracting slightly over the past several cycles. I’m in the camp estimating it around 120-150k this cycle.
Hard to say, and this certainly isnt financial advice. Just what im looking at.
Hard to say, and this certainly isnt financial advice. Just what im looking at.
Posted on 3/12/24 at 2:48 pm to tenderfoot tigah
It will start moving a lot faster once it’s past 100k.
It will be hard to get to 100, but once it’s 100, 200 won’t be far behind, IMO.
It will be hard to get to 100, but once it’s 100, 200 won’t be far behind, IMO.
Posted on 3/12/24 at 4:17 pm to LSUnation78
quote:
I’m in the camp estimating it around 120-150k this cycle.
Everyone has 150k in their minds so it seems like a self fulfilling prophecy, my question is if the next low has changed. Will everyone in the etf’s sell on the downturn? If its in their retirement accounts?
Also this cycle is super early relative to the halvening.
Posted on 3/12/24 at 6:36 pm to The Baker
quote:
Everyone has 150k in their minds so it seems like a self fulfilling prophecy, my question is if the next low has changed. Will everyone in the etf’s sell on the downturn? If its in their retirement accounts?
But does that make it self fulfilling?
Or will people say "oh, it will sell off at 150K I better sell before"?
Fun to think about
This post was edited on 3/12/24 at 6:37 pm
Posted on 3/12/24 at 8:50 pm to boomtown143
Kind of think it’s gonna end up the other way.
Lots of people sell at 150k but then…the sell pressure is gone and we end up at 350-450k.
Personally, I won’t be selling at 150
Lots of people sell at 150k but then…the sell pressure is gone and we end up at 350-450k.
Personally, I won’t be selling at 150
Posted on 3/12/24 at 9:20 pm to Hateradedrink
quote:
Lots of people sell at 150k but then…the sell pressure is gone and we end up at 350-450k.
Just this year, we are going to see significant liquidity issues in available supply, coupled with significant increases in demand.
Liquid supply on the exchanges is being gobbled up by the ETF APs. The ETFs will find out in the next several months to 6 months max that the available Bitcoin supply on exchanges is now in the hands of long term holders. Price will have to escalate more and more to get long term holders to start selling.
Morgan Stanley, Wells Fargo, UBS, Vanguard and more financial institutions have not yet allowed millions of investors access to these Bitcoin ETFs, but they will be forced to or they can watch their client base bleed out much like Grayscale is seeing with GBTC.
BlackRock and Fidelity are trying to get access to these ETFs in their other very large and popular funds. Retirement funds and hedge funds are starting to add and/or are talking about adding these Bitcoin ETFs to their funds. BlackRock is making progress at making it's Bitcoin ETF available in other countries. Sovereign Wealth Funds are likely going to add these ETFs or Bitcoin directly.
We are just getting started with excessive demand. It's going to greatly increase from all of the above that I listed. Even without the forthcoming increases in demand from all of these financial institutions making significant increases to access to Bitcoin in their funds, demand for the ETFs is already 10 to 14 times more than new Bitcoin supply being mined daily. After the halving, demand will likely be at a minimum 25 times more than daily newly mined Bitcoin supply.
Price discovery is going to be fun to watch. Don't be surprised just how high the price will get. I think there will be a face melting multi month parabolic run starting sometime later this year. Bitcoin's price will not rise in a linear fashion. There will be significant pullbacks even in the middle of an extended parabolic run. Unfortunately, a lot of newbie investors with weak hands will continue to get shaken out along the way.
This post was edited on 3/12/24 at 9:42 pm
Posted on 3/12/24 at 9:39 pm to 98eagle
It’s coming, and anyone without exposure is going to either fomo in at the wrong time or post a bunch of cope on the MT
Posted on 3/12/24 at 10:10 pm to 98eagle
quote:
Morgan Stanley, Wells Fargo, UBS, Vanguard and more financial institutions have not yet allowed millions of investors access to these Bitcoin ETFs, but they will be forced to or they can watch their client base bleed out much like Grayscale is seeing with GBTC.
Yeah that’s just not true - at least the bleed out part. The vast majority of tradfi has no desire to own crypto, at least not anytime soon.
That's still potentially bullish though.
Posted on 3/12/24 at 10:40 pm to slackster
quote:
The vast majority of tradfi has no desire to own crypto, at least not anytime soon.
I don't think that will be the case for long. I read a number of different forums, and I see people who are posting that are upset with Vanguard and some are already transferring to Fidelity as an example. It's not that hard to do in personal IRA accounts.
The higher Bitcoin goes, the more everyone and their grandmother wants to get exposure to these Bitcoin ETFs or to a smaller extent, directly in Bitcoin.
Posted on 3/12/24 at 11:11 pm to 98eagle
Likely why Vanguards CEO is "leaving the company".
Posted on 3/12/24 at 11:12 pm to boomtown143
Got bored and finally aped into a meme coin
Posted on 3/13/24 at 6:46 am to CE Tiger
Another day, another new ATH for BTC. This is fun
Posted on 3/13/24 at 7:15 am to CE Tiger
quote:
Got bored and finally aped into a meme coin
I always like throwing a bit into memes during these runs. Would like to hear what others are dabbling in? Would like to see a top 3 list from others.
1. PEPE
2. BONK
3. SOLAMA
Of course I own a small amt of SHIB and DOGE just for kicks.
Posted on 3/13/24 at 7:28 am to mach316
1. Shib
2. Floki
3. Doge Elon Mars
Floki is up like 700% the last month.
2. Floki
3. Doge Elon Mars
Floki is up like 700% the last month.
This post was edited on 3/13/24 at 7:32 am
Posted on 3/13/24 at 7:32 am to Rize
Good morning to everyone except the shitcoiners.
33 days until the halfening
My bags are full
$75,000 this week?
33 days until the halfening
My bags are full
$75,000 this week?
Posted on 3/13/24 at 7:49 am to I Love Bama
cant we all just get along
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