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

[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/

[SouJerz]

BTC HITS A NEW ALL TIME HIGH!

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

150k this cycle 

[Flexacon]

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.

I don't think he's much of degen/gambler, but then again I am probably the last degen standing in this thread. If anything he over held a lot of his positions.

I'd agree though right now trying to trade and move in and out of positions is not the right move. Sit on your hands, but keep an eye on macro. It was around this time last year when regional banks had issues, so we could also see repeat of that, only this time they don't save them. Also the big one is rate cuts. Rate cuts because they broke something (sell your positions) or rate cuts because they achieved a soft landing (buy more if you can) Everything else that's not a black swan can basically be ignored.

[obsidian]

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.

You have that wrong. I barely trade. I HODL more than you. When the market crashed in 2018/2019 you sold your BTC. I held ETH from 2017 all the way till now. You were the one living for the big win. Not me. My approach was I could care less if my crypto portfolio goes to zero. I'll rather see it go to zero than sell soon and see it go to the moon. But my thinking now is to sell with the intent to accumulate more when a correction does occur. Not to go for the "big win". Perhaps that's why you sold in 2018/19. Or maybe back then you weren't sure if Bitcoin had legs.

My recent buy into Shiba was $30 LMAO! It's just for fun.

Bitcoin is inferior to Ethereum from a technological point of view. It's slower, has less utility, and has architectural problems facing it in the future as mining yields decrease. There are more developers actively working to improve Ethereum compared to Bitcoin. What Bitcoin has is a first mover advantage and people like Saylor who will never sell. That's it.

Look at today. BTC has currently dropped more than Ethereum. Yes I know, it's one day. But the BTC Maxi reasoning is flawed. What tools are you using to look at charts? Go to https://coinranking.com/ and look at the 3 and 5 year yields for all these cryptos. Bitcoin has not outperformed many of the current top 10.

You're getting caught up in the price of BTC, and not comparing the returns. Bitcoin's big market cap means it will be a slower horse in the race in the long run. People getting into Bitcoin now are not entering the ground floor. It's half way up the building.

[obsidian]

I don't think he's much of degen/gambler, but then again I am probably the last degen standing in this thread. If anything he over held a lot of his positions.

I'd agree though right now trying to trade and move in and out of positions is not the right move. Sit on your hands, but keep an eye on macro. It was around this time last year when regional banks had issues, so we could also see repeat of that, only this time they don't save them. Also the big one is rate cuts. Rate cuts because they broke something (sell your positions) or rate cuts because they achieved a soft landing (buy more if you can) Everything else that's not a black swan can basically be ignored.

I am just thinking of converting once promising cryptos to degen MEMEs that have proven to move much more. The young generation don't care about IOTA for example. They want PEPE, SHIBA, BONK, DOGE, etc. I don't have a lot into these other underperforming cryptos. Perhaps around $5,000. For these I think it is time to hop onto a faster train. I still have IOTA which I acquired in 2017. Yes I overheld. The opposite of degen.

[Amerian Muscle]

I just inherited 70 ounces of physical gold. Is now an opportune time to promptly sell it and buy bitcoin? Or wait for a pullback?

[obsidian]

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.

We have witnessed numerous cycles now and observed human psychology. At some point earlier hands decide the profits are enough or they needs funds to buy a house or whatever. Bitcoin almost touched $69K yesterday and today it is at $65K. The journey up will not be in a straight line. There will be many corrections along the way. It is possible for BTC to correct down to $42K in May. And then after the correction, still go over $100K into 2025.

I do plan on rotating into BTC once the alts have gained significantly. BTC front runs alts. IT is possible for the BTC to ETH ratio to go back to 1:12 or perhaps 1:10. I would like that. To be honest, I would prefer a 1:6 ratio. The supply of ETH is 6x that of BTC. Ethereum is undervalued compared to Bitcoin. Once people realize that it will close the gap. The current ratio is 1:18 which is a joke in my opinion. Ethereum has had a much bigger influence on the crypto sphere than Bitcoin has.

[obsidian]

I just inherited 70 ounces of physical gold. Is now an opportune time to promptly sell it and buy bitcoin? Or wait for a pullback?

Congrats! That's awesome. Nobody knows the answer and don't want you to lose money. Most likely if you buy BTC now and hold for years you will get a bigger return compared to Gold. Not financial advice, just my opinion. Gold is used in electronics, electrical devices and many other fields. There's an incentive by various players to keep the prices suppressed. The younger generation also think gold is lame as an investment. It's not very portable or devisable.

https://news.bitcoin.com/economist-peter-schiff-says-gold-price-not-rising-fast-enough-condemns-civil-ruling-against-donald-trump/

Economist Peter Schiff Says Gold Price Not Rising Fast Enough, Condemns Civil Ruling Against Donald Trump

Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve had not increased interest rates.

[Amerian Muscle]

Congrats! That's awesome. Nobody knows the answer and don't want you to lose money. Most likely if you buy BTC now and hold for years you will get a bigger return compared to Gold. Not financial advice, just my opinion. Gold is used in electronics, electrical devices and many other fields. There's an incentive bay various players to keep the prices suppressed. The younger generation also think gold is lame as an investment. It's not very portable or devisable.

https://news.bitcoin.com/economist-peter-schiff-says-gold-price-not-rising-fast-enough-condemns-civil-ruling-against-donald-trump/

Economist Peter Schiff Says Gold Price Not Rising Fast Enough, Condemns Civil Ruling Against Donald Trump

Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve had not increased interest rates.

Definitely a lot to think about, I'm thinking of selling it pretty soon since it is reported to be at all time high levels at this time. I am also thinking that once BTC really goes parabolic, it may crash the gold market.

[gib]

You have that wrong. I barely trade. I HODL more than you. When the market crashed in 2018/2019 you sold your BTC. I held ETH from 2017 all the way till now. You were the one living for the big win. Not me. My approach was I could care less if my crypto portfolio goes to zero. I'll rather see it go to zero than sell soon and see it go to the moon. But my thinking now is to sell with the intent to accumulate more when a correction does occur. Not to go for the "big win". Perhaps that's why you sold in 2018/19. Or maybe back then you weren't sure if Bitcoin had legs.

My recent buy into Shiba was $30 LMAO! It's just for fun.

Bitcoin is inferior to Ethereum from a technological point of view. It's slower, has less utility, and has architectural problems facing it in the future as mining yields decrease. There are more developers actively working to improve Ethereum compared to Bitcoin. What Bitcoin has is a first mover advantage and people like Saylor who will never sell. That's it.

Look at today. BTC has currently dropped more than Ethereum. Yes I know, it's one day. But the BTC Maxi reasoning is flawed. What tools are you using to look at charts? Go to https://coinranking.com/ and look at the 3 and 5 year yields for all these cryptos. Bitcoin has not outperformed many of the current top 10.

You're getting caught up in the price of BTC, and not comparing the returns. Bitcoin's big market cap means it will be a slower horse in the race in the long run. People getting into Bitcoin now are not entering the ground floor. It's half way up the building.

I think (can't recall if it is you or not but I thought it was) that I explained numerous times the idiocy, short-sightedness, illogicality and risk of investing an "alts" to Bitcoin, and also why any alt can outperform BTC in the short term. I will not repeat myself again.

Further, ETH is not a legitimate alternative to the purpose Bitcoin serves, which is as the rock solid base layer of digital money. This should by now be very clear to most people. That is not to say that ETH does not have some features that BTC does not, just any any alt will have unique features. But none of them are legitimate alternatives to Bitcoin.

But I'll give to you - yes I did sell in 2018 - I did not have the confidence and conviction I now do. But to my credit I did thereafter rebuy and keep stacking, and it worked out OK.

Anyhow, congrats on the ETH performance. Any holder of ETH or BTC can be very happy with the outperformance of gold and fiat.

[gib]

I am also thinking that once BTC really goes parabolic, it may crash the gold market.

Its quite possible, especially at gold market cap is around 10x of BTC. But what I think is more likely is that rather than a gold crash caused by funds flowing into BTC, both will rise to the USD over time, only gold far more slowly that BTC, with any amount of gold moving over to BTC having a much greater impact on BTC price due to BTC much smaller market cap. So i other words a slow decline in relative performance of gold, and a much higher multiple performance increase in BTC.