re: Official CryptoTalk Thread

98eagle is one of the posters here who actually knows his shite and not a memer

Looking at the 1day chart, BTC really needs to get above 60k and sustain within the next couple of days.

I think 59k is the upper band of the wedge. BTC getting rejected from 59k would be a bad sign.

*Bitcoin is pumping

The other coins just pump when Bitcoin does.

Freedom money responds well to freedom.

And this should not be a surprise. The man said he wants to make Bitcoin a reserve asset (i don't believe him) and his odds of getting elected go higher and higher by the day.

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Trump is grifting hard on the Bitcoin stuff. I really don't understand his strategy here.

If you asked the voting populace to explain what Bitcoin is or does, 95% would not have a clue.

Why is he wasting his time with Bitcoin bros?

Don't get me wrong, I'm glad he is pumping my bags and do think we will eventually have it as a reserve asset.

But that is a 10-20 years down the road.

But you are right.

If Trump says he is going to make it a reserve asset at the Bitcoin conference and then he gets elected and does it, we are going to 100k-150k so fast your head will spin.

Yeah good point. Nobody is really anti BTC (except money talk).

This is a really interesting strategy and it makes sense to me, conceptually. I own some BITX, and I watch BTC religiously, so I may try feeling it out with a small amount of money.

Thanks again

You're welcome. The other interesting thing about my strategy is how it makes me feel somewhat indifferent about Bitcoin's price action. I really want Bitcoin to go way higher in a parabolic way, but I don't get down and out when Bitcoin has a small or large pullback. In this cycle, I just know that Bitcoin will recover and I am ultimately going to keep increasing my BITO shares and most likely enjoying its massive dividend in a bigger amount each month.

Frequent Bitcoin price swings are great for my strategy. It's the multi week downturns and sideways price action that can really test someone's resolve. I'm used to it as I've been in Bitcoin and crypto since 2016, so I have endured some much larger downturns than we are seeing in 2024.

I was a longtime holder of GBTC since 2016 as well and endured it trading at an approximately 50% discount. I held it until the Spot ETFs were available on January 11th and it's discount disappeared. I immediately switched to FBTC and IBIT. But then I discovered BITO and BITX and I learned how to arbitrage trade their prices and gradually tweaked my strategy. I'll also switch trading into BITX every 3 months and trade into BTFX or BITU temporarily to avoid its possible 2 to 3 day underperformance at the end of its fiscal quarters.

He hates Gary

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Strap in. “America always does the right thing…after exhausting all other available options.”—Churchill

Vance is the signal. We’re going to devalue and reshore. Bond market dies. NY and DC lose. The rest of America wins and the fiat price of btc is going to be difficult to comprehend.

Humm. This needs to be its own thread.

Dollar devaluation would also help trump out tremendously with his families real estate portfolio.

I think we all expect more devaluation to take place but for them to say it publicly means it could be bigger than we’ve seen.

Going to keep an eye on this. Good share.

I find this hilarious when a significant portion of Trump supporters are “bring back the gold standard” types that lament how much value the dollar has lost.

Bitcoin and land are the future of value storage. Own both.

Also, Mt Gox moved around 140k btc this morning with some going to exchange wallets, and the market completely shrugged.

Is it happening