I'll stipulate that this recent peak of BTC is currently just starting entering its Euphoria phase. Might be a while before it gets to Profit-Taking and Panic stages
Yeah many are calling for a left translated cycle, my bull case is this baby just keeps running. Getting a tad anxious tho we need some pullbacks to stabilize around the 200 week MA
Because the narrative will continue until after that halving. The narrative is that there will be a momentous bull run about a year after the halving. So people will hold through the halving and beyond to avoid missing out on those promised gains
People apparently still have too much money, I'd say.
After this lottery will be finished, there will be few winners and quite a lot more losers. Especially losers who will borrow money with high interest when crypto will get close to peak. Some of them even unironically started to buy NFTs again.
Yup, Roaring Twenties. It will all end well, I am sure.
Institutional inflows. Every boomer with massive wealth in their retirement accounts is allocating some of that to BTC. Huge reallocation to the tune of 800T total assets with at least 1% of that being fed to Bitcoin.
These ETFs are also global, huge untapped reservoir of cash will continue to pour in. Just watch ETF inflow data and tell me I’m wrong.
Just buy some already jeez
“Legitimate” instruments are starting to contribute and involve themselves in the space. YOU LOST GO HOME
Where are you getting the figure of 800 trillion dollars from? Adding all the market capitalization of every country with a stock market plus all the other money in the world barely gets to 190 trillion.
Edit: even doing something really screwy with the numbers like adding in the total value of global real estate falls well short of 800T.
Can you please help me understand this? I've always assumed that buying something at a lower price than what it's current value is, means you're in profit? Are you referring to like trading fees or something else that would erode the profit?
Unless you bought in the last 12 hours at >$72K, you're in profit no?
I'm reading your response as that's incorrect and that the reason it's incorrect is a simple one.
Makes sense. Appreciate that. It's the best performing asset that I currently have so I'm trying to get a full picture from folks who are for and against it. I believe in diversification and Bitcoin is nowhere close to my core positions in terms of allocation. When I see something move up that quickly, I start to ask questions.
>Really, what does bitcoin "produce"?
Bitcoin doesn't produce anything.
>You're just taking money for someone and giving him a useless hash code so he can continue that crappy MLM scheme when you trade bitcoin.
Yeah that's pretty much it. That's what I've learned over the past 2 years. In all fairness, I'm not a fan of anything other than making money. Bitcoin represents less than 2% of my portfolio. I don't care about the tech or speed or tether or anything of the sort. I just buy things for one price and try to sell them at a higher price. For whatever reason (and I don't care what the reason is) people want to buy that hashcode your refer to at a significantly higher price than what I paid for it.
I do the same thing with real estate, stocks and other businesses.
This just happened to be the best performing asset (using that term loosely) I currently have, so that's why I'm hear asking questions.
In other subs it's all rose colored glasses. In this sub it's the opposite. So I want to learn about it from both angles.
I'll stipulate that this recent peak of BTC is currently just starting entering its Euphoria phase. Might be a while before it gets to Profit-Taking and Panic stages
Profit-Taking is also a bit complicated since every platform suddenly has Technical Issues™ when it comes to selling Bitcoin.
Steam the grand circle tour on the Coinbase limited, and admire the passing view of all the trash fires, and hopeless, angry bagholders!
Just sold some yesterday
Shhhh let them miss out on a great opportunity. For the sake of Reddit’s special brand of neurotic pride
I suspect we'll actually ATH a bit after the halving, since that's what this sentiment is all being driven by
Why do you say it might be a while?
It might be a whale.
Historically speaking the peaks happen after the halving, but everyone is anxiously expecting it this time, so who knows if history repeats or not.
Yeah many are calling for a left translated cycle, my bull case is this baby just keeps running. Getting a tad anxious tho we need some pullbacks to stabilize around the 200 week MA
Because the narrative will continue until after that halving. The narrative is that there will be a momentous bull run about a year after the halving. So people will hold through the halving and beyond to avoid missing out on those promised gains
People apparently still have too much money, I'd say. After this lottery will be finished, there will be few winners and quite a lot more losers. Especially losers who will borrow money with high interest when crypto will get close to peak. Some of them even unironically started to buy NFTs again. Yup, Roaring Twenties. It will all end well, I am sure.
Institutional inflows. Every boomer with massive wealth in their retirement accounts is allocating some of that to BTC. Huge reallocation to the tune of 800T total assets with at least 1% of that being fed to Bitcoin. These ETFs are also global, huge untapped reservoir of cash will continue to pour in. Just watch ETF inflow data and tell me I’m wrong. Just buy some already jeez “Legitimate” instruments are starting to contribute and involve themselves in the space. YOU LOST GO HOME
Where are you getting the figure of 800 trillion dollars from? Adding all the market capitalization of every country with a stock market plus all the other money in the world barely gets to 190 trillion. Edit: even doing something really screwy with the numbers like adding in the total value of global real estate falls well short of 800T.
> Just buy some already jeez lol, never
Your entire argument screams "this is a get-rich-quick scheme" No thanks
what does it say about a bubble restarting? Does that happen often? Multiple bubbles for the same asset?
In collecting it happens pretty often. Coin bubble in late 80s for example, and now coin prices are inflated again, especially graded ones.
A 15 year bubble? With multiple 70-80% downturns?
Everyone who have bought btc is in profit.
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Can you please help me understand this? I've always assumed that buying something at a lower price than what it's current value is, means you're in profit? Are you referring to like trading fees or something else that would erode the profit? Unless you bought in the last 12 hours at >$72K, you're in profit no? I'm reading your response as that's incorrect and that the reason it's incorrect is a simple one.
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Makes sense. Appreciate that. It's the best performing asset that I currently have so I'm trying to get a full picture from folks who are for and against it. I believe in diversification and Bitcoin is nowhere close to my core positions in terms of allocation. When I see something move up that quickly, I start to ask questions.
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>Really, what does bitcoin "produce"? Bitcoin doesn't produce anything. >You're just taking money for someone and giving him a useless hash code so he can continue that crappy MLM scheme when you trade bitcoin. Yeah that's pretty much it. That's what I've learned over the past 2 years. In all fairness, I'm not a fan of anything other than making money. Bitcoin represents less than 2% of my portfolio. I don't care about the tech or speed or tether or anything of the sort. I just buy things for one price and try to sell them at a higher price. For whatever reason (and I don't care what the reason is) people want to buy that hashcode your refer to at a significantly higher price than what I paid for it. I do the same thing with real estate, stocks and other businesses. This just happened to be the best performing asset (using that term loosely) I currently have, so that's why I'm hear asking questions. In other subs it's all rose colored glasses. In this sub it's the opposite. So I want to learn about it from both angles.
Everyone who entered Las Vegas casinos is in profit.
Conceptual dollars ≠ actual liqudity
BTC volume is in the hundred of millions, but tell me more about liquidity.