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

[SF1900]

Give it time - you will...

So many examples:

https://saltlending.com/
https://archlending.com/
https://rocko.co/
https://aave.com/
https://DBS.com/
https://www.home.saxo/

Its actually very easy, as almost every broker now allows you to borrow against an BTC ETF.

And we will increasingly see banks totally integrate BTC, such that it will (obviously) be far easier to borrow againt BTC, then against a house, for example.

so, basically, as of right now, bitcoin is useless for every day use.

Got it.

[SouJerz]

But but but the charts and my predictions!!!  I mapped out 2024 this is all wrong. 

[SouJerz]

What gives obsidian?  Why is ETH still not above its 2024 high???

[ProudVirgin69]

Give it time - you will...

So many examples:

https://saltlending.com/
https://archlending.com/
https://rocko.co/
https://aave.com/
https://DBS.com/
https://www.home.saxo/

Its actually very easy, as almost every broker now allows you to borrow against an BTC ETF.

And we will increasingly see banks totally integrate BTC, such that it will (obviously) be far easier to borrow againt BTC, then against a house, for example.

I clicked on a few links and found this statement on one:

Crypto backed loans are offered to U.S. borrowers by ChainFi Inc and are not available to U.S. residents of AL, CA, DE, HI, ID, IL, LA, MI, MN, MS, MT, NV, ND, OH, RI, SC, SD, TN, TX, VT, VA, or WA or to U.S. businesses in CA, DC, HI, LA, MI, MT, NV, NM, ND, RI, SD, TN, UT, or VT.

Seems legit 

[gib]

Yes, it is legit. That's why they are remaining compliant with US laws.

And US laws will of course change to embrace BTC over time.

[gib]

Do you have any BTC ProudVirgin? Its an extremely important asset. If you do not have any here is my advice  - get some now, HODL and keep stacking. Its going to 1m per coin and beyond.

[Griffith]

so, basically, as of right now, bitcoin is useless for every day use.

Got it.

Think of the benefits of cryptocurrency and decentralised finance (Defi).

For everyday purchases people can use stablecoins, tokens pegged 1:1 with the US dollar.

You can also earn interest on these stablecoins and can transfer funds extremely fast and for a few cents. You're basically your own bank, there's no commissions, transfer fees and other time-consuming bureaucracy involved.

The majority of stablecoins are minted using the Ethereum network.

[obsidian]

What gives obsidian?  Why is ETH still not above its 2024 high???

It will get there - patience. I posted a fictional chart on around 8/20/2024 - you can look for it in this thread. The price is a little behind. My chart indicated ETH hitting $4,000 in November. We almost hit it yesterday. Ethereum has done OK the past 30 days.

BTC - 34%
ETH - 50%
XRP - 337%
SOL - 35.5%
BNB - 25%
DOGE - 116.8%
ADA - 235%
TRX - 99%
AVAX - 101%
SHIB - 60.5%

^^^^^
I have 7 out of those listed.

[obsidian]

Ether's Risk-Reward Is Attractive, Bernstein Says
The world's second largest cryptocurrency may begin to outperform given the recent inflection in ETF inflows, the report said.

- Ether's year-to-date underperformance relative to bitcoin may be over, the report said.
- Bernstein noted that Blackrock's ether spot ETF saw larger inflows than its larger bitcoin rival on Friday.
- Ether ETF staking yields could be another tailwind for the cryptocurrency under Trump's new administration.

Ether (ETH) has underperformed its larger rival bitcoin (BTC) year-to-date, but ETH exchange-traded fund (ETF) inflows have inflected suggesting this period of underperformance may be over, broker Bernstein said in a research report on Monday.

The broker noted that on Friday Blackrock's spot ether ETF saw inflows of $250 million, versus only $137 million of inflows for the asset manager's larger spot bitcoin ETF.

"This creates favorable demand-supply dynamics for ETH," analysts led by Gautam Chhugani wrote.

Staking yields could be another tailwind for the cryptocurrency. Bernstein noted that initial ether spot ETF applications did not include yields due to regulatory limitations.

"Under a new Trump 2.0 crypto friendly SEC, ETH staking yield will likely be approved," the authors wrote, adding that as activity on the Ethereum blockchain increases the yield can grow to 4-5%.

Ethereum blockchain activity is on the up, and the network remains the platform of choice for asset tokenization and stablecoins, the report said.

After Ethereum's transition to a proof-of-stake consensus mechanism, the supply of ether has remained "stagnant" at a total of 120 million tokens, Bernstein said.

Ethereum's transaction fees deliver a yield of around 3% to stakers, which keeps about 28% of ether supply locked in staking contracts, the report noted. Another 10% of supply is locked in deposit and lending contracts.

Almost 60% of ether has not changed hands in the last 12 months which is indicative of a "resilient investor base," and this reinforces the positive demand-supply dynamics for the cryptocurrency, the report added.

https://www.coindesk.com/markets/2024/12/02/ether-risk-reward-is-attractive-given-recent-underperformance-bernstein

[obsidian]

Total Ethereum Spot ETF positive inflows crossed $1 billion even after Grayscale's ETHE dumped $3.4 billion. The funds are starting to gain traction.

If staking is allowed for the ETH Spot ETFs as some anticipate it would turbo charge the funds. We have seen positive inflows since November 22.

Waiting for the BlackRock numbers of today. Fidelity and BlackRock have been the top performers.

https://farside.co.uk/eth/

[gib]

Are we really going to see the US establish a strategic Bitcoin reserve? If so, that will be a very significant milestone as we head to the USD 1m per BTC milestone.

https://www.forbes.com/sites/digital-assets/2024/12/05/elon-musk-quietly-fuels-us-bitcoin-reserve-bets-as-price-breaks-100000/

https://finance.yahoo.com/news/fed-chair-powell-bitcoin-gold-190021426.html?

https://cointelegraph.com/news/us-government-bitcoin-national-reserve

https://www.cnbc.com/2024/12/05/what-fed-chief-powell-said-about-crypto-that-may-have-aided-bitcoins-rally-to-100k.html

https://cryptoslate.com/putin-says-bitcoin-is-inevitable-endorses-btc-over-us-dollar-as-global-reserve-currency/

[SouJerz]

It will get there - patience. I posted a fictional chart on around 8/20/2024 - you can look for it in this thread. The price is a little behind. My chart indicated ETH hitting $4,000 in November. We almost hit it yesterday. Ethereum has done OK the past 30 days.

BTC - 34%
ETH - 50%
XRP - 337%
SOL - 35.5%
BNB - 25%
DOGE - 116.8%
ADA - 235%
TRX - 99%
AVAX - 101%
SHIB - 60.5%

^^^^^
I have 7 out of those listed.

Ethereum has one of the lowest ROI for this cycle.  Again what gives? If ether is so great why doesn’t the price reflect it?   Seriously?  FUD? Competition?

[Griffith]

Ethereum has one of the lowest ROI for this cycle.  Again what gives? If ether is so great why doesn’t the price reflect it?   Seriously?  FUD? Competition?

Look at the charts from the previous cycles and you will see ETH initially lags in comparison and only pumps some time after BTC.

[Griffith]

ETH above 4k.

[SouJerz]

US Spot Ether ETFs just had their biggest single day of inflows in history and a ninth consecutive trading day of positive flows for the rallying cryptocurrency...

[SouJerz]

Are we really going to see the US establish a strategic Bitcoin reserve? If so, that will be a very significant milestone as we head to the USD 1m per BTC milestone.

https://www.forbes.com/sites/digital-assets/2024/12/05/elon-musk-quietly-fuels-us-bitcoin-reserve-bets-as-price-breaks-100000/

https://finance.yahoo.com/news/fed-chair-powell-bitcoin-gold-190021426.html?

https://cointelegraph.com/news/us-government-bitcoin-national-reserve

https://www.cnbc.com/2024/12/05/what-fed-chief-powell-said-about-crypto-that-may-have-aided-bitcoins-rally-to-100k.html

https://cryptoslate.com/putin-says-bitcoin-is-inevitable-endorses-btc-over-us-dollar-as-global-reserve-currency/

BSR!!!!
Microsoft and other Fortune 500 adding it to the balance sheet. 
Pensions and hedge funds buying BTC next?

[gib]

It will get there - patience. I posted a fictional chart on around 8/20/2024 - you can look for it in this thread. The price is a little behind. My chart indicated ETH hitting $4,000 in November. We almost hit it yesterday. Ethereum has done OK the past 30 days.

BTC - 34%
ETH - 50%
XRP - 337%
SOL - 35.5%
BNB - 25%
DOGE - 116.8%
ADA - 235%
TRX - 99%
AVAX - 101%
SHIB - 60.5%

^^^^^
I have 7 out of those listed.

You should have Uniswap. Look into it. And Filecoin. After lengthy research, these were the 2 best ventures tokenized by tokens which I identified as have a legit future for the functions they provide.

[Griffith]

ETH closing in on 4100.

Not long now till previous ATH region of 4800 breached.

[obsidian]

Are we really going to see the US establish a strategic Bitcoin reserve? If so, that will be a very significant milestone as we head to the USD 1m per BTC milestone.

https://www.forbes.com/sites/digital-assets/2024/12/05/elon-musk-quietly-fuels-us-bitcoin-reserve-bets-as-price-breaks-100000/

https://finance.yahoo.com/news/fed-chair-powell-bitcoin-gold-190021426.html?

https://cointelegraph.com/news/us-government-bitcoin-national-reserve

https://www.cnbc.com/2024/12/05/what-fed-chief-powell-said-about-crypto-that-may-have-aided-bitcoins-rally-to-100k.html

https://cryptoslate.com/putin-says-bitcoin-is-inevitable-endorses-btc-over-us-dollar-as-global-reserve-currency/

That's huge! BTC will go to $1 million. It will mean something if the dollar devaluation slows down. What good is a future $1 million if the purchasing power is a fraction of what it is today. In Weimar they ended up paying 200,000 million marks for a loaf of bread! That was 200 billion marks!

[obsidian]

ETH closing in on 4100.

Not long now till previous ATH region of 4800 breached.

BlackRock's ETHA saw an inflow of $297.7 million yesterday! A total inflow of $428.5 million above Grayscale's $15.1 million outflow. The effect of these inflows will take time to impact the price of ETH - similar to BTC. We need to see sustained inflows.

https://farside.co.uk/eth/

[obsidian]

You should have Uniswap. Look into it. And Filecoin. After lengthy research, these were the 2 best ventures tokenized by tokens which I identified as have a legit future for the functions they provide.

Thanks. The Filecoin chart though looks bad. See how much it dumped since 2021! Of course that means it could pump recover a lot to the upside.

I am taking profits next year and will keep stablecoins ready for buying BTC, SOL and a few others if there is a major retracement. I am a critic of SOL but there is no denying it has promise. It looks like governments may embrace BTC so the reduced miner rewards every 4 years becomes less of a concern I think. But we'll see.

[Griffith]

BlackRock's ETHA saw an inflow of $297.7 million yesterday! A total inflow of $428.5 million above Grayscale's $15.1 million outflow. The effect of these inflows will take time to impact the price of ETH - similar to BTC. We need to see sustained inflows.

https://farside.co.uk/eth/

Yes, once the 4100 region is tested as support, then the previous ATH will be the next target. After that, price discovery.

[gib]

Thanks. The Filecoin chart though looks bad. See how much it dumped since 2021! Of course that means it could pump recover a lot to the upside.

I am taking profits next year and will keep stablecoins ready for buying BTC, SOL and a few others if there is a major retracement. I am a critic of SOL but there is no denying it has promise. It looks like governments may embrace BTC so the reduced miner rewards every 4 years becomes less of a concern I think. But we'll see.

Yes, although I don't look at charts at all (or at least largely try to ignore in terms of assessing whether these ventures have any legitimate value. My assessment is that both FileCoin and UniSwap have significant fundamental value, so I apply the same valuations to these as I would any fast start-up with good prospects. And based on that, I have invested. I am sure I am not the only one who does such an analysis. Both the quants, sophisticated hedge funds, and AI enabled trading systems I believe will identify the same traits. Lets see!

Glad its all working out now and coming right for you with the alts! Whether doing all this alts and shitcoinery brings you more BTC than if you had just bought BTC in the first place will be interesting. Have you done the calculation? Most people think they can do this, but very few succeed.

[Griffith]

U.S. spot ether ETFs extend two-week inflow streak as ETH price tops $4,000

U.S.-based spot ether exchange-traded funds have logged ten straight days of net positive inflows, the longest streak since the nine funds available on U.S. stock exchanges launched in July of this year.

The funds added $83.8 million in value on Friday, according to SoSoValue's data, led by Fidelity's FETH with $47.9 million, or just over half of the net inflows. In total, over $992 million in value was traded, making Friday the fourth-highest volume trading day since the launch of the funds in July of this year; setting aside the week of the funds' debut, Friday marked the second-highest volume trading day, behind last Wednesday, when nearly $1.1 billion worth of ether changed hands.

The funds also marked their highest weekly inflow yet, with last week's $836.7 million marking a significant increase of 62% over the second-highest week's inflows of $515.2 worth of ETH from Nov. 15-22. BlackRock's ETHA fund has added about $520 million worth of ether in the last week alone, while Fidelity's FETH added nearly $276 million in net inflows.

The inflow streak coincides with a recent rally in the price of Ethereum's native currency that has seen ether top $4,000, having risen about 3% over the past twenty-four hours, according to The Block's Ethereum Price Page.

Ethereum in November also recently marked its highest monthly on-chain volume since December 2021, The Block previously reported, nearly double the year's lowest volume month, January. The increased value of the token has also corresponded with a slight resurgence in the NFT market, leading to double-digit percentage increases in the price of several top NFT projects.

https://www.theblock.co/post/329866/u-s-spot-ether-etfs-extend-two-week-inflow-streak-as-eth-price-tops-4000

[Mayday]

Thanks. The Filecoin chart though looks bad. See how much it dumped since 2021! Of course that means it could pump recover a lot to the upside.

I am taking profits next year and will keep stablecoins ready for buying BTC, SOL and a few others if there is a major retracement. I am a critic of SOL but there is no denying it has promise. It looks like governments may embrace BTC so the reduced miner rewards every 4 years becomes less of a concern I think. But we'll see.

Trump is an ETH maxi. Holds a big bunch of ETH and ETH layer 2 coins.

BTC to 245k. I was horrifically wrong thinking BTC wouldn’t break 100k this cycle. 245k is where I get to now 🤷