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re: Official CryptoTalk Thread
Posted on 7/25/24 at 4:51 pm to beaverfever
Posted on 7/25/24 at 4:51 pm to beaverfever
quote:Why do you say this? Thus far they are far exceeding expectations
So the ETH ETF looks like a huge failure. Seems positive for BTC dominance.
ETA: Oh, you are just talking about price. I take it you weren't around for when the BTC ETF launched huh? Something like a 30% drop in price post launch. You have millions of ETH that have been waiting to exit Grayscale but couldn't until the fund converted to a ETF. That happened, those people will exit, then the inflows will begin.
This post was edited on 7/25/24 at 4:53 pm
1
Posted on 7/25/24 at 4:57 pm to TigerTatorTots
I bought IBIT throughout the first week. I remember a correction but there was also one taking place in the whole crypto universe. Today felt a bit more specific to ETH.
I have no idea though. Just thinking out loud. I have some ETH so I’m not hoping for bad things.
I have no idea though. Just thinking out loud. I have some ETH so I’m not hoping for bad things.
Posted on 7/25/24 at 5:47 pm to beaverfever
quote:
I heard an interview with a guy on CNBC that and he acted like he didn’t want to say that it was going poorly but he was thinking it.
Everything I've seen and expected is right on target for where we thought we'd be. BTC took a beating it's first week after ETFs went live. ETH has the same hurdles that BTC had, namely Grayscale. It doesn't help the traditional markets dipped hard yesterday and Mt Gox distributions are currently ongoing. It's all short term noise.
Posted on 7/25/24 at 5:50 pm to BottomlandBrew
At this point in the crypto life cycle who has more upside? Eth or btc. Can there be only 1 or do they both have a place?
Posted on 7/25/24 at 6:06 pm to Pierre
Which do you think has a better chance of happening or happening 1st, BTC 200k or ETH 10k?
Posted on 7/25/24 at 9:26 pm to HottyToddy7
Gun to my head? Probably ETH to 10k, but both of those targets are possible this cycle.
Posted on 7/25/24 at 9:31 pm to Pierre
quote:
At this point in the crypto life cycle who has more upside? Eth or btc.
This a more complex question than you might think. It’s very difficult to compare right now because so much has changed. Historically at this point in the cycle, eth would have more “upside” but I’m not sure.
quote:
Can there be only 1 or do they both have a place?
They both do very different things and plenty of room for both, as well as the assortment of shitcoins in the top 50 market cap.
This post was edited on 7/25/24 at 9:32 pm
Posted on 7/26/24 at 1:33 pm to Hateradedrink
quote:
Gun to my head? Probably ETH to 10k, but both of those targets are possible this cycle.
I would think that too. But have you looked at the ETH/BTC chart? ETH has been on a severe downtrend since August of 22 without any upward momentum.
So ether ETH is due to pop against BTC or this is the new normal for the cycle.
I do think both are possible as well. But BTC’s supply crunch makes it want me to lean that way. But the last 5 years I would have said ETH. I don’t think you can go wrong with either.
This post was edited on 7/26/24 at 1:35 pm
Posted on 7/26/24 at 3:01 pm to HottyToddy7
Btc dominance increasing is normal at this stage. BTC dominance dropping is usually when I start looking for an exit on alts.
Posted on 7/26/24 at 5:04 pm to Hateradedrink
quote:
BTC dominance dropping is usually when I start looking for an exit on alts.
Why's that? BTC dominance breaking down usually means alts are pumping.
Posted on 7/26/24 at 5:07 pm to HottyToddy7
quote:
But have you looked at the ETH/BTC chart? ETH has been on a severe downtrend since August of 22 without any upward momentum.
BTC dominance in general is on a 2-year uptrend.
I honestly don't see that changing anytime soon. BTC profits aren't being rolled into alts anymore.
Posted on 7/26/24 at 7:38 pm to LordSaintly
Yeah, it does. It just means we’ve entered the terminal phase of the cycle and the next stage is the bottom falling out.
So, I start paying close attention to find a good exit point
So, I start paying close attention to find a good exit point
This post was edited on 7/26/24 at 7:39 pm
Posted on 7/26/24 at 8:19 pm to Hateradedrink
Posted on 7/26/24 at 8:58 pm to Hateradedrink
Yeah, the Bitcoin ETFs are doing what I feared. Once the institutions start buying BTC, profits will stop rolling into alts.
Hopefully I'm wrong.
Hopefully I'm wrong.
This post was edited on 7/26/24 at 8:59 pm
Posted on 7/26/24 at 8:59 pm to LordSaintly
quote:Wholeheartedly disagree. This time has some nuances, but it's not different...yet. Alts will have their day.
profits will stop rolling into alts.
Posted on 7/26/24 at 9:01 pm to FnTigers
quote:
Alts will have their day.
Yeah I'm hoping so, despite my skepticism.
BTC.D is at resistance so maybe we see alts pump very soon.
Posted on 7/26/24 at 9:50 pm to LordSaintly
It will go up a bit for a spike once btc runs.
Check the all time graph out on candlestick if you haven’t. Really interesting to me when I think about it context of wild 17-18 season.
fricking ICX and NEO, man
Check the all time graph out on candlestick if you haven’t. Really interesting to me when I think about it context of wild 17-18 season.
fricking ICX and NEO, man
Posted on 7/27/24 at 11:16 am to Hateradedrink
Might get a retest of 72k here
Posted on 7/27/24 at 4:27 pm to Hateradedrink
Fed meetings trigger a lot of big moves. Fed meeting this week probably is what the market is waiting for. If the Fed cuts rates or talks about cutting rates I bet we get a retest and possibly a breakout above 72k.
Posted on 7/27/24 at 4:44 pm to HottyToddy7
BI
Trump says he'll create a 'bitcoin national stockpile' as he courts the cryptocurrency crowd at Nashville conference
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