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

[obsidian]

You don’t have millions in PEPE?

No, but I reasoned earlier this year that I should have. I know it will pump and dump. Capital Gainz taxes is what held me back! 

[Mayday]

Laser eyes 👀

[Flexacon]

Now add in the 3.5% ETH staking yield. At current prices BTC is up 59% the past 3 months. And ETH is up 60%. But if you're staking then that number might as well be 63.5%.

I am bullish on ETH and always will be. It gives yield and is deflationary. It's  deflation rate was around -1% the past 7 days. Soon the supply will dip below 120 million ETH. It remains to be seen how the Dencun upgrade will affect the burning mechanism.

https://ultrasound.money/

Still very good reason to be very bullish longer term, but the next few months could potentially be volatile.

But man it's probably too late to properly take advantage of it, but the play for ETH for the last 12 months was staking and then restaking (as well as farming on L2) using protocols like EitherFi and Pendle.

Hardcore ETH maxis have been milking this stuff hard. They haven't been earning 3.5% yield. It's more like 20%, plus all the L2 points and airdrops they've farmed. They used the yield and L2 profits to buy and stake more ETH. They've probably x1.5 their ETH stash or more depending on the risk they were willing to take.

Eigen is gonna be the biggest points airdrop ever. ETH maxis are gonna print HARD and they'll repeat the same buying more ETH and staking play with eigen profits. So ETF rejection, macro dumps, selling short term etc won't matter because ETH maxis have their game plan for this cycle.

[obsidian]

Still very good reason to be very bullish longer term, but the next few months could potentially be volatile.

But man it's probably too late to properly take advantage of it, but the play for ETH for the last 12 months was staking and then restaking (as well as farming on L2) using protocols like EitherFi and Pendle.

Hardcore ETH maxis have been milking this stuff hard. They haven't been earning 3.5% yield. It's more like 20%, plus all the L2 points and airdrops they've farmed. They used the yield and L2 profits to buy and stake more ETH. They've probably x1.5 their ETH stash or more depending on the risk they were willing to take.

Eigen is gonna be the biggest points airdrop ever. ETH maxis are gonna print HARD and they'll repeat the same buying more ETH and staking play with eigen profits. So ETF rejection, macro dumps, selling short term etc won't matter because ETH maxis have their game plan for this cycle.

I don't know anything about airdrops or L2 points. I have never received any. All I got was staking rewards at around 3.5 - 4%. The only way my ETH stash would have increased 1.5X is if the interest rate was 50%.

[Flexacon]

I don't know anything about airdrops or L2 points. I have never received any. All I got was staking rewards at around 3.5 - 4%. The only way my ETH stash would have increased 1.5X is if the interest rate was 50%.

You needed to bridge ETH over, interact (spend gas, mint NFTs etc) and basically help test the L2s before they launched their mainnets. Those people got air dropped things like ARB and OP tokens.

For yield you need to restake your staked ETH to get more yield. You can also borrow against your staked/restaked ETH, buy more ETH with that, then stake/restake, borrow and buy more ETH.

[Mayday]

65.2k 

[D.O.A.]

I just realized in Europe its Bitc. 60.000+ today. I have done well the last 2 years ..I have to say..damn!lol

[SouJerz]

I just realized in Europe its Bitc. 60.000+ today. I have done well the last 2 years ..I have to say..damn!lol

How will you have done when it’s 250,000 a coin in the next 5 years?

[gib]

65.2k 

Just blasted through 66K.

[SouJerz]

Just blasted through 66K.

This cycle is going to 150K  we're not even post halving yet,  My million dollar question is where does the merry go round stop (this cycle)  and how low does it drop?  40K? I hope so that's when you reload the guns, but what if we never see under 100k again.

[Slapper]

Fellas, fibs shows GBTC breaking $100 by end of June.

Think about it twice before exiting your positions (if you're in).

We're just getting started.

[SouJerz]

Fellas, fibs shows GBTC breaking $100 by end of June.

Think about it twice before exiting your positions (if you're in).

We're just getting started.

HODL

Just GBTC or all the ETFS?   IBIT, ARKB, FBTC?   

[gib]

HODL

Just GBTC or all the ETFS?   IBIT, ARKB, FBTC?

All. And of course Bitcoin directly.

[gib]

This cycle is going to 150K  we're not even post halving yet,  My million dollar question is where does the merry go round stop (this cycle)  and how low does it drop?  40K? I hope so that's when you reload the guns, but what if we never see under 100k again.

Well, the info was so clearly laid out in this thread for every GetBigger. So I hope many of those here benefitted from our lengthy discussion and education.

And its just getting started. We may well see one or more legitimate god candles this year. And yes also an ATH pre halving.

100 will be such a milestone, and then beyond, such that when passed we might never again see 100 as it will be the absoulte baseline bottom level which will always attract buying on any dip approaching it.

[SouJerz]

Well, the info was so clearly laid out in this thread for every GetBigger. So I hope many of those here benefitted from our lengthy discussion and education.

And its just getting started. We may well see one or more legitimate god candles this year. And yes also an ATH pre halving.

100 will be such a milestone, and then beyond, such that when passed we might never again see 100 as it will be the absoulte baseline bottom level which will always attract buying on any dip approaching it.

I always thought of it like this, Currently it is said that there are 60 million people on the planet with a net worth of 1 million dollars which is probably a low number and increasing daily as governments print money.  There are only 21 million bitcoin that will ever be printed/mined subtract 3-4 million bitcoin that have been lost forever on hard drives sitting in landfills.  At that rate there isn't even 1 bitcoin to go around to every millionaire on the planet, now think of how many people have hundreds, thousands, hundreds of thousands of BTC, and how many people are worth multiple million dollars.

Gib are you familiar with the Plan B model?

https://twitter.com/100trillionUSD?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

[Mayday]

Just blasted through 66K.

Skirting that 69k ATH right now.

This looks like it could be it my friend.

It feels like there is so much steam pressure to stop at my 76k. FOMO is in full swing now. My next stop after that is 96k but peak has to be in March month.

Could we go from 69k to 96k in one month? That would blow my mind quite honestly and even saying 96k makes me feel dirty Euphoric 😂

[obsidian]

ETH just passed $3.7K. And I just checked and the deflation for the day hit just about -2%! We knew that ETH was going to burn tremendously in a bull run. Imagine if the price really gets going as it has in the past. Perhaps the deflation will hit 4%. Of course this is only for a short time. ETH might hit $4k again before long.

I just converted one of my underperforming cryptos to Shiba INU. Not a huge amount. I know it has already made some big moves but it has more room to go. Going to go through all my underperforming cryptos and simplify. One of them is TRON. It's been useless / disappointing. I might convert it to PEPE.

https://ultrasound.money/

[obsidian]

Bitcoin Could Slide to $42K After Halving Hype Subsides, JPMorgan Says
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency’s price, the report said.

https://www.coindesk.com/business/2024/02/29/bitcoin-could-slide-to-42k-after-halving-hype-subsides-jpmorgan-says/

Bitcoin and Ethereum dumped about 50% after the 2020 Bitcoin Halving.

So perhaps JPMorgan's number of $42k has credence. Does that mean BTC pumps all the way to $80-100K before April 19th? Who knows. Sounds a bit extreme, but you never know.

[SouJerz]

Bitcoin Could Slide to $42K After Halving Hype Subsides, JPMorgan Says
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency’s price, the report said.

https://www.coindesk.com/business/2024/02/29/bitcoin-could-slide-to-42k-after-halving-hype-subsides-jpmorgan-says/

Bitcoin and Ethereum dumped about 50% after the 2020 Bitcoin Halving.

So perhaps JPMorgan's number of $42k has credence. Does that mean BTC pumps all the way to $80-100K before April 19th? Who knows. Sounds a bit extreme, but you never know.

Oh a bank that has no horse in the race wants it to dump to 42k. I wonder who will be buying at that price.  Who cares if it dumps just a great buying opportunity Bitcoin is 10 year hold at minimum unless you want to take profits and get fancy shoes and a fancy car instead of never working again.

[obsidian]

Oh a bank that has no horse in the race wants it to dump to 42k. I wonder who will be buying at that price.  Who cares if it dumps just a great buying opportunity Bitcoin is 10 year hold at minimum unless you want to take profits and get fancy shoes and a fancy car instead of never working again.

Look at the charts. It's done that before. Might be a great buying opportunity if it dumps. I plan on selling some just before the halving date.

EDIT: Just looked at the 2020 BTC chart and it dumped 2 months before the 11 May 2020 halving. Lowest seemed to have been on Mar 12, 2020 when it crashed below $5,000. But that's when the news about Covid was ramping up also. So perhaps this time won't be the same. We'll see.

[SouJerz]

Look at the charts. It's done that before. Might be a great buying opportunity if it dumps. I plan on selling some just before the halving date.

EDIT: Just looked at the 2020 BTC chart and it dumped 2 months before the 11 May 2020 halving. Lowest seemed to have been on Mar 12, 2020 when it crashed below $5,000. But that's when the news about Covid was ramping up also. So perhaps this time won't be the same. We'll see.

So you’re gonna sell in hopes it dumps and then buy up more BTC or Pepe?  If it’s BTC good idea if it dumps.  It has dumped before but look at the charts it hit even higher all time highs within 6 months post halving if my memory serves me correct?  I hope it dumps to 42k I will HODL what I have and add more to the pile. 

[Mayday]

ETH just passed $3.7K. And I just checked and the deflation for the day hit just about -2%! We knew that ETH was going to burn tremendously in a bull run. Imagine if the price really gets going as it has in the past. Perhaps the deflation will hit 4%. Of course this is only for a short time. ETH might hit $4k again before long.

I just converted one of my underperforming cryptos to Shiba INU. Not a huge amount. I know it has already made some big moves but it has more room to go. Going to go through all my underperforming cryptos and simplify. One of them is TRON. It's been useless / disappointing. I might convert it to PEPE.

https://ultrasound.money/

ETH waiting for BTC to finish.

So much has been front run though.

JPMorgan are doing the Lord’s work for us. Getting people to stay sidelined then send it to ATH knowing they will FOMO.

The halving doesn’t matter, just becomes a narrative rather than anything of substance. Keep in mind ‘the halving’ narrative has been shoved down our throats for the past year. It’s all anyone talks about.

[SouJerz]

ETH waiting for BTC to finish.

So much has been front run though.

JPMorgan are doing the Lord’s work for us. Getting people to stay sidelined then send it to ATH knowing they will FOMO.

The halving doesn’t matter, just becomes a narrative rather than anything of substance. Keep in mind ‘the halving’ narrative has been shoved down our throats for the past year. It’s all anyone talks about.

Do you only have ETH or any BTC allocation?

[gib]

So you’re gonna sell in hopes it dumps and then buy up more BTC or Pepe?  If it’s BTC good idea if it dumps.  It has dumped before but look at the charts it hit even higher all time highs within 6 months post halving if my memory serves me correct?  I hope it dumps to 42k I will HODL what I have and add more to the pile.

Lol - I was thinking the same thing.

Obisdian is more of a dgen / gambler than an investor. He's not stupid, but he has a stupid approach to investing, and lives for the "big wins". I have tried many times to change him - and not sure he ever will change. Still, its all good. All views are make for good discussion. And we all have our methods and own logic.

[gib]

BTC HITS A NEW ALL TIME HIGH!

https://www.coindesk.com/markets/2024/03/05/bitcoin-soars-to-new-all-time-high-above-69k/