BITCOIN Discussion..........

[rabiddog]

You don't buy 10k BTC, using any method, without directly raising the price (unless there are countervailing pressures pushing it downward). Breaking it up and spreading it out over 2 weeks doesn't change that.

Yes you do, that's not how the big boys do it. Lets say the price is at $27,000 and they want to buy 10,000 they'll tell the broker I want 10,000 all under $27,500 at that point they'll go to work and find them there 10,000. Some times there is no supply and it causes the price to rise. Microstrategy's original buy of 21,000 bitcoin back in August 2020 was done without making the price go up. All around just a little over $10,000. 6 months later bitcoin was over $50,000. Eventually taking this bitcoin out of the market the supply dries up and price rises.

 

[rolandcorts]

YeLets say the price is at $27,000 and they want to buy 10,000 they'll tell the broker I want 10,000 all under $27,500 at that point they'll go to work and find them there 10,000.

This has as much of an upward effect on price as buying all 10000 units instantaneously. The time horizon is just different. If I were a major BTC holder and wanted to see the price go up, I wouldn't care if Saylor bought the 10k units at once or spread it out over a week or two.

My point is that even with a known whale buying a bunch every few months, the price is barely holding ground. If a bunch of ETFs get approved and/or major corporations decide to allocate some of their cash to BTC, it could be priced at 50k tmrw. If binance goes the way of FTX, it could be 5k tmrw.

You interpret the relative silence over BTC as being a great time to buy because youll be ahead of the game when it starts to ramp up and all the bandwagoners come back. But the silence over BTC could, along the lines of jjgold's comment, be disinterest and boredom. Apple/Google/others have had a long time to get into the BTC game but it seems they just couldn't care less.

 

[Ace7550]

Bitcoin has gone through many stagnant times. And it's been declared "dead" hundreds of times.
I've seen nothing during this cycle to make me think things will be different this time.

 

[rabiddog]

You interpret the relative silence over BTC as being a great time to buy because youll be ahead of the game when it starts to ramp up and all the bandwagoners come back. But the silence over BTC could, along the lines of jjgold's comment, be disinterest and boredom. Apple/Google/others have had a long time to get into the BTC game but it seems they just couldn't care less.

I'll leave it alone why the big boys don't use market buys and use OTC so they can get the best price alone. It should make sense.

Bitcoin is in in a true accumulation phase they can be boring at times, but Bitcoin is up close to 100% from it's lows in the last year. Apple, Google, etc. are more then likely not putting bitcoin on there balance sheet right now because of the accounting rules associated with holding it. They might never put it on, but those same rules go away Jan. 1, 2025 witch is supper bullish when it happens. Go read about if you want to know more. Public Company's first obligation is 2 the share holders and these rules as they are now hurt there balance sheet.

There are so many bullish things happening or going to happen in the next couple months or years, that it's only a matter of time before Bitcoin rises more. Keep up with what's going on and you'll see.

Also binance is not that important to Bitcoin like it use to be and if they collapse, which I don't think they will it won't affect the market like it would of a year or 2 ago or the way FTX did.

Here's a few bullish catalyst's for 2024 into 2025.
- Spot ETF
- Rate Cuts
- US Debt Buybacks (stimulus)
- Election year
- Halving
- Accounting rule changes

That's just a few.

 

[JDS]

I'll leave it alone why the big boys don't use market buys and use OTC so they can get the best price alone. It should make sense.

Bitcoin is in in a true accumulation phase they can be boring at times, but Bitcoin is up close to 100% from it's lows in the last year. Apple, Google, etc. are more then likely not putting bitcoin on there balance sheet right now because of the accounting rules associated with holding it. They might never put it on, but those same rules go away Jan. 1, 2025 witch is supper bullish when it happens. Go read about if you want to know more. Public Company's first obligation is 2 the share holders and these rules as they are now hurt there balance sheet.

There are so many bullish things happening or going to happen in the next couple months or years, that it's only a matter of time before Bitcoin rises more. Keep up with what's going on and you'll see.

Also binance is not that important to Bitcoin like it use to be and if they collapse, which I don't think they will it won't affect the market like it would of a year or 2 ago or the way FTX did.

Here's a few bullish catalyst's for 2024 into 2025.
- Spot ETF
- Rate Cuts
- US Debt Buybacks (stimulus)
- Election year
- Halving
- Accounting rule changes

That's just a few.

This guy sounds like he’s holding some btc weight, I like and can appreciate the analysis with your projections.

 

[rabiddog]

Another thing that affects the price of Bitcoin big time that people don't talk about is the DXY. It could be topping out right now and if it does Bitcoin might go up from here. But if it does continue to go up it will put down pressure on Bitcoin. Compare this years price of the 2 charts and you'll see.

 

[rabiddog]

This guy sounds like he’s holding some btc weight, I like and can appreciate the analysis with your projections.

Have been since 2017, spent 2018 and 19 learning about it. You can really tell when people talk about it who knows about it and is keeping up with the information, and who doesn't. There's many people out there who don't need it until they do. Talk to people in Venezuela, or Turkey where it's never been in a bear market compared to there currency. We actually have 33 Trillion reasons to hold a little Bitcoin.

 

[rolandcorts]

I agree, society needs bitcoin. But people are clueless sheep and by the time they really need it, it'll be too late. Just like it is for Turkey and Venezuela. They're already in the dumpster.

People will be lining up in a few years to get a chip implanted in their forearm (to access their CBDCs!) long before they consider using BTC.

 

[Pimike]

Going up

 

[rabiddog]

I agree, society needs bitcoin. But people are clueless sheep and by the time they really need it, it'll be too late. Just like it is for Turkey and Venezuela. They're already in the dumpster.

People will be lining up in a few years to get a chip implanted in their forearm (to access their CBDCs!) long before they consider using BTC.

Some will figure it out, that's why Bitcoin will continue to trend up over time and become less volatile. Hopefully more will wake up in the U.S. and see what's happening and understand that government is not your friend.

 

[Ace7550]

I live in the bay area (which I know is more crypto savvy than most places) and if you stopped 10 people on the street and asked if they owned crypto at least one would say yes. Probably more like 2 or 3 would say yes.
Is it totally mainstream yet? No. Is it a lot more mainstream than it was a few years ago? Definitely.

 

[Ace7550]

Also, I watched the Bernie Madoff documentary on netflix last night. Probably would be interesting for people posting in this thread. I had no idea how massive that ponzi scheme was.
Made me think how ripe the crypto market is for schemes like that. It's important to do your homework and know what you're investing in. Be very wary of stuff that isn't open source.

 

[rabiddog]

There's many scams in Crypto and Hacks. Greed gets people, just like luna giving almost 20% interest on stable coins. I invest in many different Crypto most will be worthless in a few years. I invest in them because I'm pretty sure in the next year or 2 they will pump hard and I will sell them. As of right now they make up about 10% of my crypto portfolio. 90% is made up of Bitcoin, ETH, Polygon, Dot, Arbitrum and Cosmos one's I believe will be here long term. At this time in 3 years I plan only to be still holding onto Bitcoin and ETH.

 

[fulko]

nother thing that affects the price of Bitcoin big time that people don't talk about is the DXY. It could be topping out right now and if it does Bitcoin might go up from here. But if it does continue to go up it will put down pressure on Bitcoin. Compare this years price of the 2 charts and you'll see.

 

[homie1975]

sold to lock in some BTC profit at ~$33,500

rebought at ~$33,250

 

[Ace7550]

Damn BTC is pumping today. Hasn't been this high in a year and a half.

 

[Ace7550]

Biggest day BTC has had in a long time...

 

[homie1975]

i just sold for profit and rebought

 

[eddycash]

Hodl strong we got this

 

[JDS]

i just sold for profit and rebought

Chum change for you though.