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

[Flexacon]

Ah, yes correct if you include GBTC - but theirs were accumulated long before the ETF launches. Lets see how much the ETFs gobble up - but either way, many people forget that the ETF demand is driven by end customer demand for the ETFs. Its not as though the ETF providers are just buying up BTC with their own funds. But in any case, we all know price will rise massively if ETF demand continues. I can't image any more than 10% of all BTC ever being held in the various US ETFs, as prices will rise making as supply of sellers willing to sell shrinks - but time will tell - even if it is, I would have no concerns. Indeed I am very happy to see big money flowing in via any vehicle available.

I can see it going higher than 10% but more for the reason that big OG whale holders redistribute some of the BTC the hold in cold wallets into ETFs. Makes sense to diversify and it makes things like inheritance easier to manage.

Anyway indices look potentially ready to blast off for the next couple of days, just a couple more boxes left to tick there. If it does let's see if BTC goes along for the ride.

[gib]

I can see it going higher than 10% but more for the reason that big OG whale holders redistribute some of the BTC the hold in cold wallets into ETFs. Makes sense to diversify and it makes things like inheritance easier to manage.

Anyway indices look potentially ready to blast off for the next couple of days, just a couple more boxes left to tick there. If it does let's see if BTC goes along for the ride.

I would not see BTC in cold storage going into ETF's driving price up as much as supply being bought up by the ETFs from ever dwindling supply on exchanges. 

At this rate, it seems every 1 USD Billion of inflows, is correlating to around an increase of 2% in BTC price (which equates to around USD $1000 on BTC price). Hence my earlier post a few weeks back predicting what would happen to BTC price over the next 2 years.

[Mayday]

ETH gas costs right now.

[gib]

I do not comment on alts too often, but some may recall I have in the past urged all to look into FILECOIN.

See now this development. I will say it one more time. Take a look at FIL and seriously consider. If you are looking for an emerging alt superstar, this may be it.

https://crypto.news/solana-filecoin-unite-boost-decentralized-data-storage/

[Flexacon]

What's all this Eth, File and shitcoin nonesense? 

Last week saw $2.5B flows from the ETFs and Coinbase is down to its barebones in BTC holdings, lowest in nearly 10 years. Doesn't look like it's gonna be long before ...

[obsidian]

ETH gas costs right now.

ETH chart going back to 2015. It looks fairly healthy - looks like an up-trend to me. Bitcoin has high fees. Institutions don't care about these fees, which can be mitigated by using L2s for your transactions. And more upgrades are slated for release to address these issues.

Ethereum gives yield AND is deflationary. Hopefully, it stays that way when fees are reduced. But that's a pretty attractive proposition for an investor. Bitcoin does not provide any yields. You HODL and that's it. Curious to see if Ethereum eventually does flip Bitcoin! Gib incoming in 3,2,1... 

[obsidian]

 

[Mayday]

ETH chart going back to 2015. It looks fairly healthy - looks like an up-trend to me. Bitcoin has high fees. Institutions don't care about these fees, which can be mitigated by using L2s for your transactions. And more upgrades are slated for release to address these issues.

Ethereum gives yield AND is deflationary. Hopefully, it stays that way when fees are reduced. But that's a pretty attractive proposition for an investor. Bitcoin does not provide any yields. You HODL and that's it. Curious to see if Ethereum eventually does flip Bitcoin! Gib incoming in 3,2,1... 

It shows how quickly activity on the network ramped up. Good for anyone on the ETH network as money piles in. Awesome!

BTC gets an ETF and money piles into ETH. An application for an ETH ETF has been made but perhaps Blackrock need to be involved for it to really hold weight of being approved.

[Flexacon]

It shows how quickly activity on the network ramped up. Good for anyone on the ETH network as money piles in. Awesome!

BTC gets an ETF and money piles into ETH. An application for an ETH ETF has been made but perhaps Blackrock need to be involved for it to really hold weight of being approved.

Blackrock filed for an ETH spot ETF back in November last year. ETH spot ETF with access to staking yields is the golden goose, but that's looking unlikely to be approved. A plain vanilla spot ETF (without staking yield) looks more likely, but that probably won't generate much interest. Eigen is close though and that's dropping several $billions in points to the ETH ecosystem. Mixed bag for ETH, but bullish BTC helps it.

Also gas has largely been higher because of interest in an experimental erc404 which is a gas fee guzzler. Gas was over a $100 because of it last week. Eth on chain hasn't seen much new money, just a lot of rotation. Real degen stuff going on though with yield, liquidity pools, bonds etc as protocols are fighting for TVL. 700% APR type stuff for those getting in early. It will probably crash everything in a bear, but printing big right now.

[gib]

Nice to see some commonsense and some lessons which have been learned here.

All this alt shit really is just basically shit. The quicker most people realize the better. And even those which are not entirely shit and actually do have a use case (less than 1% of all alts) I would say, only 1% are fairly priced. Most of the very small number of "legit" alts are usually WAY overpriced for what they represent. Often 100-1000x any reasonable price that you would use in a typical VC calculation. The only alt with a legit use which is actually growing, and which is at  fair (but still not cheap) price I have found after many hours of research is Filecoin (FIL). Does not have the hype of so much shit out there, but has the best prospects of a return based on current price and usage. Go figure...

See what I posted here. And see what has happened to FIL since then. Again, let me be clear - when I post something which may be of use to others, I have a very good reason for doing so.

[gib]

Was $5.2 per filecoin when I posted this.

Now $8.30, and still HUGE upside. I urge all to take the time to truly understand the Filecoin technology, adoption, and tokenomics (and also to understand why nothing about FIL makes it an "alt" to BTC).

[Flexacon]

Was $5.2 per filecoin when I posted this.

Now $8.30, and still HUGE upside. I urge all to take the time to truly understand the Filecoin technology, adoption, and tokenomics (and also to understand why nothing about FIL makes it an "alt" to BTC).

Almost all AI and data tokens (and stocks) pumped after OpenAI CEO Sam Altman made his comments and then pumped again after Nvida earnings.

[Mayday]

ETH coming into my range now of my 3,100 target. It’s great to see many people now looking to buy.

I shall bless these buyers by selling 20% of my alts into their hands. I know, I know, I am selling well before 500k next year but it’s just such a good feeling selling to all these smiling, joyful faces.

We can all rejoice!

[jude2]

ETH coming into my range now of my 3,100 target. It’s great to see many people now looking to buy.

I shall bless these buyers by selling 20% of my alts into their hands. I know, I know, I am selling well before 500k next year but it’s just such a good feeling selling to all these smiling, joyful faces.

We can all rejoice!

I am finally even with ETH because I am in it at 3,050.  I said I would sell it when it got back to it, but now I want to try to make some money to make up for my loss in ETC I am in that a 118

[Mayday]

I am finally even with ETH because I am in it at 3,050.  I said I would sell it when it got back to it, but now I want to try to make some money to make up for my loss in ETC I am in that a 118

This is why short term price matters. At some point it’s the end price but you stay in because you don’t feel like it’s the end price.

Not yet though. Still room for 58k BTC if it wants to.

[Mayday]

55k !!!  EDIT now 56.6k!!!

It’s going for it!

2024 setup going exactly to plan. Going to be a great year

[Dorian Cutler]

This bitcoin stuff blows my mind, will there ever be a "next bitcoin"?

[affeman]

55k !!!  EDIT now 56.6k!!!

It’s going for it!

2024 setup going exactly to plan. Going to be a great year

LOL

Let's see if it's "Going to be a great year" when it's below the 30k mark again 2 months from now....

[Mayday]

LOL

Let's see if it's "Going to be a great year" when it's below the 30k mark again 2 months from now....

I said I expect a peak of 76k Q4 2024. We are at 56.5k and already in the parabola.

The pullback won’t be anything like what people expect.

It’s one of these things where gib’s unbridled enthusiasm will be correct for now.

[gib]

At the beginning of this thread, I urged EVERY GETBIGGER to get to wholecoiner status. I noted at that time, that right now, every single person on this forum had the ability to set themselves up for life for what lies ahead.

We are still very early in the adoption of Bitcoin as a global store of value and currency, but even so, it's nice to get some PM's thanking me.

Again, in the future there will be a huge distinction (not just financially, but also politically, societal class, and in terms of individual freedom and international living options) between a wholecoiner and the masses.

Of the thousands of members of this forum, if only all had listened, and acted, all would now be in a great place in terms of having secured their future. Talking BS and bodybuilding is all good, but we have a unique opportunity to all mutually thrive. We can still act ahead of the masses.

For those who did not act, or who see wholecoiner status as slipping out of reach, my advice is get to 0.1 of a BTC. Just do it and HODL, and stack from there.

And not need to thank me later. Thank you future self for doing what you know is right.

[affeman]

Again, in the future there will be a huge distinction (not just financially, but also politically, societal class, and in terms of individual freedom and international living options) between a wholecoiner and the masses.

 

[Mayday]

At the beginning of this thread, I urged EVERY GETBIGGER to get to wholecoiner status. I noted at that time, that right now, every single person on this forum had the ability to set themselves up for life for what lies ahead.

We are still very early in the adoption of Bitcoin as a global store of value and currency, but even so, it's nice to get some PM's thanking me.

Again, in the future there will be a huge distinction (not just financially, but also politically, societal class, and in terms of individual freedom and international living options) between a wholecoiner and the masses.

Of the thousands of members of this forum, if only all had listened, and acted, all would now be in a great place in terms of having secured their future. Talking BS and bodybuilding is all good, but we have a unique opportunity to all mutually thrive. We can still act ahead of the masses.

For those who did not act, or who see wholecoiner status as slipping out of reach, my advice is get to 0.1 of a BTC. Just do it and HODL, and stack from there.

And not need to thank me later. Thank you future self for doing what you know is right.

You are my favourite gib.

I am honoured to have been present for your ascension into the land of the Gods.

After my phone loaded your post my battery went up +7%

[gib]

You are my favourite gib.

I am honoured to have been present for your ascension into the land of the Gods.

After my phone loaded your post my battery went up +7%

[Flexacon]

You are my favourite gib.

I am honoured to have been present for your ascension into the land of the Gods.

After my phone loaded your post my battery went up +7%

Gibs high conviction call a few months back at 25K was definitely godly. He said it was TA, but the charts were poop and btc had fallen off supports. That move from 25K was a cabal/OG whales buy so I'd have to guess he has those connections.

[obsidian]

Impressive moves in a short period by Bitcoin. I expect a lot of cryptos to make impressive moves at various points in the cycle.

Here's an interesting chart from 1875 - The Brenner Cycle