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

[obsidian]

Just blasted through 43K...

Reminds me of the good old days at the beginning of the prior BTC cycle back in 2019, during the 3K price moving up to 5K price phase (which ultimately peaked at 64K). Only this time, 4 years later in the next cycle, (we have an added zero), 30K moving up to 50K phase. Time will tell if we peak at 640K...

I am by no means a fan of charts, but the chart does look like a God-candle is possibly forming.

BTC is on a roll for sure. At 43.5K now. Maybe it will shoot up to 50K soon. Will be interesting to see if BTC breaks the ATH price before the halving next year.

ETH is not doing too shabby either, right behind BTC. It will be hilarious if ETH also breaks an ATH before the halving. Time will tell.

Glad for all the BTC holders. I won't begrudge anyone making gains, no matter which project they have invested in! One day I will get into BTC. Not via FIAT, but via crypto trades. I also plan on getting some Solana and Chainlink. Maybe some degen stuff like PEPE and Shiba. But small amounts...

[gib]

Quite something that BTC, with a much larger market cap, is outperforming smaller "alts" despite it being far easier for an alt to move in % terms due to its relatively smaller cap. Again, a great bullish signal, indicating money in the "crypto ecosystem" is moving into a quality asset over time.

Retail investors (and obviously the institutional investors of finance) are understanding that Bitcoin is not crypto.

Obsidian - the best advice I can give to you, or anyone, is simply to stack and HODL. Imagine reading this thread in 10 years time how you will feel if you don't start now. You still have a massive head start over most the rest of the world, both in terms of knowledge, access to Sats, and access to money to convert into Sats. Do not squander this very obvious opportunity.

[deadz]

Quite something that BTC, with a much larger market cap, is outperforming smaller "alts" despite it being far easier for an alt to move in % terms due to its relatively smaller cap. Again, a great bullish signal, indicating money in the "crypto ecosystem" is moving into a quality asset over time.

Retail investors (and obviously the institutional investors of finance) are understanding that Bitcoin is not crypto.

Obsidian - the best advice I can give to you, or anyone, is simply to stack and HODL. Imagine reading this thread in 10 years time how you will feel if you don't start now. You still have a massive head start over most the rest of the world, both in terms of knowledge, access to Sats, and access to money to convert into Sats. Do not squander this very obvious opportunity.

LOL

[Slapper]

Folks, reminder: Don’t let the charlatans separate you from your (future) money.

There is a very high possibility that,  because we fell short in last bull market (price-wise,) we’re going to make up for it big time. This blow off top looks and sounds like it’s going to be insane.

[Theoak*]

Quite something that BTC, with a much larger market cap, is outperforming smaller "alts" despite it being far easier for an alt to move in % terms due to its relatively smaller cap. Again, a great bullish signal, indicating money in the "crypto ecosystem" is moving into a quality asset over time.

Retail investors (and obviously the institutional investors of finance) are understanding that Bitcoin is not crypto.

Obsidian - the best advice I can give to you, or anyone, is simply to stack and HODL. Imagine reading this thread in 10 years time how you will feel if you don't start now. You still have a massive head start over most the rest of the world, both in terms of knowledge, access to Sats, and access to money to convert into Sats. Do not squander this very obvious opportunity.

This is not retail  buying.

[gib]

This is not retail  buying.

Combination of both retail, institutional, and sovereign wealth funds.

We know for sure that long term retail Bitcoiners continue to HODL and accumulate Sats.

We know that some who were in and now out (in last cycle) are sensing its time to re-enter.

We also know that first time retail buyers are also entering, Mums and Dads and Taxi drivers etc becoming interested again.
 
With everyone HODLing, it does not take much additional demand to move price.

Of course we have more nimble family offices, HNWs, and hedge funds accumulating. And we see some larger wallets accumulating also (quite possibly institutional).

And we have evidence (and also rumors) that various Governments are buying (or considering  - for example the sovereign wealth fund of Qatar is rumored to be poised to make a half trillion investment in Bitcoin - if that really happens, the impact on price, and on global interest in this asset, will be mind-blowing.)

But the really big driver, over time, in the immediate future, will be the US BTC ETF's. If we really see approvals next year, this will be a game changer in terms of funds consistently flowing in.

[Theoak*]

Combination of both retail, institutional, and sovereign wealth funds.

We know for sure that long term retail Bitcoiners continue to HODL and accumulate Sats.

We know that some who were in and now out (in last cycle) are sensing its time to re-enter.

We also know that first time retail buyers are also entering, Mums and Dads and Taxi drivers etc becoming interested again.
 
With everyone HODLing, it does not take much additional demand to move price.

Of course we have more nimble family offices, HNWs, and hedge funds accumulating. And we see some larger wallets accumulating also (quite possibly institutional).

And we have evidence (and also rumors) that various Governments are buying (or considering  - for example the sovereign wealth fund of Qatar is rumored to be poised to make a half trillion investment in Bitcoin - if that really happens, the impact on price, and on global interest in this asset, will be mind-blowing.)

But the really big driver, over time, in the immediate future, will be the US BTC ETF's. If we really see approvals next year, this will be a game changer in terms of funds consistently flowing in.

They dont have disposable income or stimmy checks. This is not the same market micro-structure as 2020.

This is all institutional and OG crypto money on the move.

Majority retail will come later on, like usual, late to the party.

[affeman]

BTC is on a roll for sure. At 43.5K now. Maybe it will shoot up to 50K soon. Will be interesting to see if BTC breaks the ATH price before the halving next year.

The experts agree that the halving at this point won't have any significant influence on the price anymore.

I guess the upcoming ETF might pump it up one last time slightly above the all-time high, and after that, the BTC/Crypto craze will eventually die off once and for all...

[gib]

They dont have disposable income or stimmy checks. This is not the same market micro-structure as 2020.

This is all institutional and OG crypto money on the move.

Majority retail will come later on, like usual, late to the party.

I would say we will also see many conservative yet huge sources of institutional wealth come in over time (and yes of course many retail investors. The good thing is that if BTC's rise in infinitely up against fiat over time, then its never "too late" to enter.

But entry point will of course influence total % gain. You know the old saying - "Everyone gets Bitcoin at the price they deserve.."

[gib]

The experts agree that the halving at this point won't have any significant influence on the price anymore.

I guess the upcoming ETF might pump it up one last time slightly above the all-time high, and after that, the BTC/Crypto craze will eventually die off once and for all...

2 comments .

1. "Bitcoin, not crypto". Learn the distinction. Others will also.

2. Any halving, in theory should be "priced in". In reality, for many reasons, its not. Very simply, if demand remains constant, and new supply suddenly halves, then the price for that halved supply will increase.

[Slapper]

Folks, retail isn’t even in yet. Let’s just say I work on the retail side (although I deal with institutional business) for one of the big 3 financial services firms in the world and have seen very little change in the positions held at DTC from a year ago to now.

Retail is going to come once the ETFs are approved.

Oh, and another thing, the ETF approvals are not going to be sell-the-news events. There are millions of retirement accounts out there, with hundreds of thousands and even millions of dollars in them, waiting to go in. Once that happens, we will see Bitcoin hot numbers we thought were impossible. Don’t confuse a futures product, which is an institutional toy, to an ETF.

[gib]

Folks, retail isn’t even in yet. Let’s just say I work on the retail side (although I deal with institutional business) for one of the big 3 financial services firms in the world and have seen very little change in the positions held at DTC from a year ago to now.

Retail is going to come once the ETFs are approved.

Oh, and another thing, the ETF approvals are not going to be sell-the-news events. There are millions of retirement accounts out there, with hundreds of thousands and even millions of dollars in them, waiting to go in. Once that happens, we will see Bitcoin hot numbers we thought were impossible. Don’t confuse a futures product, which is an institutional toy, to an ETF.

Fully agree Slapper. By "retail" I meant individuals buying directly via exchanges and peer to peer - not direct via banks who offer BTC.

I move between a range of global jurisdictions for tax reasons, and have private banking relationships in each. I can confirm that the banks I bank with are only just really starting to offer BTC directly (as in the last 12 months or so). (They started cautiously with HNWs, then more to general customers, and all KYC compliant. But I do now see a BTC balance in the calculation among my total assets, and I can buy via an app on my phone.

When I enquire to my bankers about BTC demand from clients, they tell me there is growing interest, but still very low. If anything, the typical client still sees gold in the way the younger generation see BTC (and many of the "investment advisors" still feel more comfortable recommending gold). And of course the banks also allow you to store physical gold with them. But they are all consistent, interest in BTC is growing, and yes, the ETF approval is what will lead to their clients feeling more comfortable to move in and similarly for advisors to recommend a BTC ETF allocation.

It will be interesting to see how much the ETF's charge for management fee. As a comparison, the banks I am with are at 30 to 50 bps a year custody fee. They also charge a little more for purchase transaction fee than an exchange would.

[Theoak*]

Folks, retail isn’t even in yet. Let’s just say I work on the retail side (although I deal with institutional business) for one of the big 3 financial services firms in the world and have seen very little change in the positions held at DTC from a year ago to now.

Retail is going to come once the ETFs are approved.

Oh, and another thing, the ETF approvals are not going to be sell-the-news events. There are millions of retirement accounts out there, with hundreds of thousands and even millions of dollars in them, waiting to go in. Once that happens, we will see Bitcoin hot numbers we thought were impossible. Don’t confuse a futures product, which is an institutional toy, to an ETF.

Gold ETF. If this is any indication  it will be buy the rumour, buy the news.

[gib]

Just out of interest, after Covid, I bought equal shares in the following US stocks (none of which I owned prior to then):

Alphabet - up 18%
Amazon - up 25%
Berkshire Hathaway - up 27%
Microsoft - up 44%

And the best performer...

MicroStrategy - up 104%

[Mayday]

Dominance moving up to a point where last time it signalled a brief top.

With all 100x more token and NFT projects available the market is heavily diluted so I’d be surprised if we actually get to 60.

You guys beginning to sound euphoric but it would be funny if we ran straight to 76k early 2024 and it died in the ass for another 4yrs.

The last dominance move up took 577 days which if repeated takes us out to July 2024.

[unreasonablereasons]

one of you smart guys tell me if NEGG will go up over time

[Theoak*]

Dominance moving up to a point where last time it signalled a brief top.

With all 100x more token and NFT projects available the market is heavily diluted so I’d be surprised if we actually get to 60.

You guys beginning to sound euphoric but it would be funny if we ran straight to 76k early 2024 and it died in the ass for another 4yrs.

The last dominance move up took 577 days which if repeated takes us out to July 2024.

Suggesting the top of the next bull run is 9% higher the top of last bull run? Given that there is no Do Kwon, DCG, SBF, CZ and a whole host of other shitcoin casinos and nefarious actors trying to suppress the price.?

[Flexacon]

Dominance moving up to a point where last time it signalled a brief top.

With all 100x more token and NFT projects available the market is heavily diluted so I’d be surprised if we actually get to 60.

You guys beginning to sound euphoric but it would be funny if we ran straight to 76k early 2024 and it died in the ass for another 4yrs.

The last dominance move up took 577 days which if repeated takes us out to July 2024.

Dominance looks like it's repeating the 2018/19 run and rising with rates/until cuts. Cuts will probably the tentative sell point for me so March 2024, although I wouldn't be surprised if Jan 31 ended up being the first cut.

[Flexacon]

ETH  continuing to bounce hard here off ethbtc support lows would also track the above as this also happened 2018/19.

May 2019 ETH broke to the upside of a rising wedge exactly 4 months after rates peaked. It is now exactly 4 months since rates peaked and ETH is now close to breaking out to the upside of another rising wedge.

[Mayday]

Suggesting the top of the next bull run is 9% higher the top of last bull run? Given that there is no Do Kwon, DCG, SBF, CZ and a whole host of other shitcoin casinos and nefarious actors trying to suppress the price.?

Yes. I had estimated 55k peak for the last run until I listened to gurus saying 200k+. I have 76k this time. I also bought at 17.5k so at least left to my own devices I can see the entry/exit better than anyone I have listened to. Hence I’m following my own advice this time instead of last time.

The space is far from cleansed.

eUSD launches in 2024 which means stablecoins are on the hit list this time around. All those yielding in stables is what will cause the collapse IMO. It’ll rinse the shit out of everything stables go and Blackrock will have their ETF launched at the right time.

I have BTC on a solid run post 2030.

[gib]

eUSD launches in 2024 which means stablecoins are on the hit list this time around. All those yielding in stables is what will cause the collapse IMO. It’ll rinse the shit out of everything stables go and Blackrock will have their ETF launched at the right time.

I have BTC on a solid run post 2030.

Bear in mind also that once the global powers that be of finance are aligned around Bitcoin, which is about to happen, they will all be highly incentivized to support the crackdown on shitcoins and shitcoin exchanges. Again, another reason to be very weary of shiny new things in the shitcoin space such as Solana not to mention scams from the prior cycle such as XRP.

Head down, ignore the noise, solidly stacking sats and hodling will serve us very well over time, even though it means missing out on some exciting shitcoinery along the way...

[affeman]

ETH is making BTC it's lil bitch right now

[a_pupil]

ETH is making BTC it's lil bitch right now

Incoming wall of text from Gib

[Flexacon]

ETH is making BTC it's lil bitch right now

Which expert did you hear this from because this is a horrible take on subject?

If you wanted to shit on Bitcoin maxis this is not how you do it.

[gib]

Lol - exactly. BTC is decentralized digital money / (Eth is not).

And then even if you were to compare them, BTC has 4x the market cap of Eth (and of course an even greater market cap than any other shit coin out there).

Not to mention, that if you take a more reasonable time period, such as the beginning of the year, BTC has WAY outperformed Eth, despite Eth's much smaller market cap and traditionally higher delta.