Bitcoins - about to hit $5,000 per coin today!

[obsidian]

Market will also be looking closely at any language around this topic from Gensler (it may be direct, or it maybe subtle requiring a little deduction). Also interesting on ETH, which may just escape the wrath of the SEC, or may not, so we could well see Eth move in 2 totally different directions, depending on the stance taken.

I hope so! Ethereum pumped nicely today. ETH FUD has been extreme this year.

I am also impressed with how well BNB did with all the FUD directed at Binance. It's almost 50% back to ATH prices. BNB tokens are also slated to be burned until the supply reaches 100 million. It very well could go beyond $1,000 this time around. The previous ATH was just shy of $700. I bought most of my BNB when it was $8. I really should have paid closer attention to the tokenomics a few years ago. Doge, for example, has a lot of inflation with no end in sight. We'll see what happens once the Doge coin officially lands on the moon.

https://www.thestreet.com/memestocks/crypto/doge-1s-galactic-mission-to-the-moon-will-dogecoin-make-history-too#:~:text=The%20DOGE%2D1%20satellite%20project,date%20of%20January%2012%2C%202024.

[Mayday]

Market almost peak short positioned. Rotation into ETH I have price top around 3,156.

Baseline revisit I have 28.6k end of Feb.

[gib]

If I recall, Gib had over 50 BTC. Perhaps more. His crypto portfolio has to be at least $2-3 million.

At 76 BTCs now, so $7,600,000 once BTC hits 100K.

[affeman]

How come ETH is rallying like crazy while BTC is completely dying off after the ETF approval?

[affeman]

At 76 BTCs now, so $7,600,000 once BTC hits 100K.

Ever tried to sell smth? What platform are you on, Crypto.com? Good luck...

[Mayday]

How come ETH is rallying like crazy while BTC is completely dying off after the ETF approval?

ETF is and always was a sell the news event.

Ever tried to sell smth? What platform are you on, Crypto.com? Good luck...

Volume is fine on large exchanges. I sold 500k in 60 seconds no sweat. It isn’t price movement that’s the issue, it’s the spoof orders. Binance is fucking useless for volume, they are corrupt as hell.

So I’d use a larger exchange where I only have to deal with Bots. A buyer might have 2M setup on their bots But a bot might only place 10k orders in 0.2% price levels. If you dumped 500k you’d wipe the orderbook but hit with smaller lots you’ll only clear the one price area. 1s later the Bot replaces that same price with another order

It scares smaller players but moving half a mill I’d pick my timing and then keep whacking market sell orders in 30k-50k-70k lots until I cleared it. Bots always came back for more. No price slip.

[Flexacon]

The bullmarket is back.

Someone placed a $6m buy order on a lowcap meme coin today which had 2.5M in liquidity.

It sent the price up x40 and then it crashed 90%. That $6m instantly became $600k

Was that you affeman?

[obsidian]

How come ETH is rallying like crazy while BTC is completely dying off after the ETF approval?

Some feel that the ETH's spot ETF applications are not priced in. BTC has outpaced ETH in 2023, as it did in the past, between bull runs. When the 2020/2021 bull market ended, ETH initially showed more resilience compared to BTC and other cryptos. But it did not hold and eventually capitulated like all the other projects.

https://cointelegraph.com/news/spot-ethereum-etf-next-for-sec-approval-analysts

Bloomberg ETF analyst Eric Balchunas previously told Cointelegraph he couldn’t see a scenario where spot Bitcoin ETFs are approved but spot Ether ETFs aren’t.

“The Ether spot is tied to the hip of Bitcoin spot for sure. It’s gonna go wherever it goes. It’s basically like on a 15-foot rope following it.”

Meanwhile, digital asset lawyer Joe Carlasare has also tipped for spot Ether ETFs to be approved this year but believes “it will take a bit longer than folks expect.”

“Ethereum spot ETFs will be approved [but] the SEC will try to carefully craft a precedent that permits them to retain some discretion in determining which digital asset ETFs will be permitted to come to market.”

Balchunas said he estimates a 70% chance that spot ETH ETFs will be approved by May — which is the month the SEC must make a final decision for several applications — though he said the timing for launch was less clear.

[obsidian]

The bullmarket is back.

Someone placed a $6m buy order on a lowcap meme coin today which had 2.5M in liquidity.

It sent the price up x40 and then it crashed 90%. That $6m instantly became $600k

Was that you affeman?

That sucks. Degen move for sure.

[Flexacon]

That sucks. Degen move for sure.

They bought more. $8.8m in total and down $5m now.

Also someone sent Satoshis wallet 26btc, $1m plus basically burned.

Marketing maybe to whip everyone into a bull market frenzy.

It's working 

[OlympiaGym]

This is really going to help the valuation of my UGL, which I’m using to borrow against to get a mortgage on an AirBB I’m looking to buy. Can’t brew forever.

[gib]

How come ETH is rallying like crazy while BTC is completely dying off after the ETF approval?

Give it more than just a few seconds my man. Inflows to BTC will be over the course of years and decades. Not seconds or minutes which is about the attention-span of the nickel and dime alt degens...

[gib]

Baseline revisit I have 28.6k end of Feb.

Dude... LOL

[gib]

BTC just blasted through 47,000. We might even see 48,000 passed today...

[gib]

BTC just blasted through 48,000. We might even see 49,000 passed today...

[affeman]

BTC just blasted dropped through 486,000. We might even see 494,000 passed today...

fixed

[Mayday]

Dude... LOL

BTC just blasted through 48,000. We might even see 49,000 passed today...

Pump it gib !

That big wick of smack down at 48k could be a degen leveraged short. Let’s see 52k this weekend!

[Flexacon]

Bitcoin, Alts and even real degen shitcoins mostly tracked SPX today. It's been a long time since it's tracked like this. Might become the new norm thanks to the ETFs.

[Mayday]

That sucks. Degen move for sure.

A Dev launched one of these Degen Meme coins. Dumps his holdings on everyone just after launch and makes a cool 500k or so. The coin then gets enough steam to go 100x and the dude missed out on all of it lol 😂

The ICOs now are pretty much rigged. I did one the other week but the price I get is around 14x higher than the Devs and then it launches 20x from their price. In other words Devs can dump at 100x and for me it’s a 7x. This is what I mean when I say everything is already frontrun. You’ll never get the 100x anymore because you need to be a Dev.

[loco]

Volatility of peace. 

[IroNat]

How will the new Bitcoin ETFs affect the Bitcoin market?

[Flexacon]

A Dev launched one of these Degen Meme coins. Dumps his holdings on everyone just after launch and makes a cool 500k or so. The coin then gets enough steam to go 100x and the dude missed out on all of it lol 😂

The ICOs now are pretty much rigged. I did one the other week but the price I get is around 14x higher than the Devs and then it launches 20x from their price. In other words Devs can dump at 100x and for me it’s a 7x. This is what I mean when I say everything is already frontrun. You’ll never get the 100x anymore because you need to be a Dev.

I think I know the one talking about. I have a decent sized bag of it. Think it could be this cycles shib

Yeah I've set my expectations for multiples a lot lower.

[Flexacon]

How will the new Bitcoin ETFs affect the Bitcoin market?

Down, then side ways, then up, left, right, down the middle

I'm locked on for 64K as the high for a while. It could go down to 30-40K before going back up to 64K or it could go straight there.

Longer term (years) ETF sends the price a lot higher and makes the price swings less volatile.

[gib]

I'm locked on for 64K as the high for a while. It could go down to 30-40K before going back up to 64K or it could go straight there.

Longer term (years) ETF sends the price a lot higher and makes the price swings less volatile.

I think the ETF is a massive development long-term. We will also see some ETF's launch soon in other major financial centers - Watch for Hong Kong soon which will also provide huge long term inflows from China and Asia.

Some of the factors impacting BTC price, other than the funds flowing in over time, I expect will be related to macro-economic data, especially inflation, interest rates, and stimulus and money-printing. And also of course various global incidents and crisis - wars and epidemics, a financial crisis, etc. Wall St really now has an amazing tool as a proxy for these factors, far superior to gold, and far more volatile (in both directions) - which is great provided you understand that the long term trajectory is up, and treat any dips as accumulation opportunities.

As for where I think BTC goes this cycle, I am more bullish that you Flex. I say we get to 120K as a bare minimum on this cycle, and quite possibly well higher. To me, a 300K peak this cycle is certainly feasible. And I say that not just because I own some.

[Flexacon]

As for where I think BTC goes this cycle, I am more bullish that you Flex. I say we get to 120K as a bare minimum on this cycle, and quite possibly well higher. To me, a 300K peak this cycle is certainly feasible. And I say that not just because I own some.

The 64k call is my March rates decision and pre halving high. Then things probably go quiet for the summer before then it runs again in parabolically.

So still pretty bullish. Macro could make me more bullish and Trump (he is pro crypto) winning the US election would make me hyper bullish.