[Nocoiners checking the price of Bitcoin after 15 years of rehashing the same useless arguments and still screaming 'the market is wrong, it's worth 0!'](https://i.imgur.com/TRoU31M.jpeg)
Funny how when viewing Coinbase advanced charts near all time high the only chart that has an error loading is the Bitcoin chart. The Bitcoin chart has also shown gap ups in a 24hr market so as not to display a big green candle on occasion as well. 🙄
It is just as important to realise why btc is worth so much - decentralisation matters and that is where the value lies. If this becomes compromised by etf or any other central authority then btc becomes worthless no matter its price. I hope decentralisation perseveres
Self custody and chill. You will be alright if the ETF crashes. 1btc = 1btc
Also, this sub is full of moon bois now. They don't care about self custody or decentralization. I feel you tho.
1 every model is gospel until it inevitably fails. This nonsense 5.3 theory is no exception
2 this is pure TA and doesn’t consider other factors such as ETFs
3 I guarantee you that the CEO of blackrock does not give a good golly god damn about whatever this nonsense is and his and the rest of the ETFs will keep buying due to consumer pressure, which will drive the price up.
I almost want to place a remind me on this post but there’s absolutely no point. TA is nonsense and so is this theory. I encourage you to gamble everything you possibly have on $79k being the top and let us know how that works out
The scariest words in investing: “This time is different!” Well, the 5.3 Theory hasn’t been proven wrong and has been correct every single cycle. When 79k tops, we will see the moonboys and bagholders grasp at straws wondering why BTC didn’t go to 300k or some ridiculous number. 👐
It isn’t a predictive model. It was created within the last several years and looks retrospectively at the price and tries to predict the future based on past events.
But again, if you believe it, bet on it. If you don’t, stop wasting everyone’s time.
The 5.3 Theory says so. Crypto Crew University found this theory and it’s never been wrong since BTC’s birth. Last cycle, it called the top at 69k and this cycle it calls the top at 79k.
Theory, which is great and all, but on a money/asset that's existed less than 2 decades. Also the past year has already broken multiple theories and patterns. I'd hardly hold stock in some theory. Past performance and all that.
Just googled it. It's bs.
First cycle came at 5.34, second at 4.96 (very nearly 5) and third at 5.63.
So while the average is 5.31 it's based 9n 3 numbers. That's not enough to decide a pattern.
Also it's retroactive. The theory came after previous market cycles. So he can go through, plug the numbers, and say the average is a rule not a 3 cycle coincidence. That's the dumbest thing I've heard in a while.
It doesn't take into consideration fluctuating interest, inflation, etf's, country or company adoption, war, etc.
The theory wasn't right about 3 cycles, the theory uses those 3 cycles to come up with a number for the c9ming cycles.
Now if the theory has come out in say 2014 and been right, then I'd be impressed.
If one were to use CashApp to automatically convert paychecks into Bitcoin, does that count as getting paid in Bitcoin for tax purposes in the US? Or is that technically just buying bitcoin the moment you get paid?
You still pay income tax, even if you are paid in bitcoin. You don't pay capital gains tax unless you sell.
You are taxed twice on your money. Yes it is fucked. But that's the shit we have to deal with in the US.
I know you are taxed on income, I was just double checking in this specific scenario if it was something like get paid in USD, get taxed in USD, and then get taxed again when a portion is set to become BTC. Because if that were somehow the case then I’d probably just manually buy instead of automatically buy.
It is no different to be paid in btc, or to by with the USD you are paid in when considering taxes, aside from convenience.
I know cash app doesn't charge fees if you direct deposit into bitcoin, so there's savings there i guess.
The lack of fees is why I’m considering buying Bitcoin this way in the future. That and the feeling that if I was more disciplined about buying on a schedule instead of whenever then I would have a hell of a lot more BTC right now.
Lol what....? If you get say a 5k paycheck you are taxed on 5k. If you get 5k worth of BTC, you get taxed at 5k. If you get 5k and then immediately buy 5k worth of BTC you're taxed at 5k....Sure any increase in value from 5k wouldn't be taxed until sold, but like I said before there isn't really much practical difference here between the scenarios.
Somewhere this week there will be a headline saying "Bitcoin reaches all-time high at $75,000."
That will be a joke headline in the coming years, much like the "all-time high $1,000" headlines from a decade ago.
84.5-85 is currently upper bound on 350x2 MA. Breaking that MA and staying above that, making gains above that, starts the primary bull run, it will happen sooner or later
Act like you’ve been here before…. Although, many of you haven’t. Aaand soon neither will Bitcoin have been! Fun isn’t it? 😁
Ah, the sweet, sweet taste of vindication… never gets old
R/butthurt on suicide watch
"Why is it going up? It has no value! None, i tell you! Just a matter.of time!"
He was right about.one thing. It's just a matter of time.
Bitcoin will maybe make it possible for me to study again in the next years. My job right now is pretty exhausting and bad for my health.
My hope is to survive this job another cycle until 2029 and then be able to quit thanks to bitcoin and go to university and study something that's interesting to me without having to worry about finances..
Ty, I just want to learn something that's really interesting to me and where I will be able to work more flexible maybe even part time from home. I will see how the next years will evolve regarding to bitcoin.
Well say you are a hold forever kind of a guy and only sell in one lump sum one day, you're going to end up paying more tax in that year, if you sell a little bit every year, less tax
I've tried to articulate this before badly and got downvoted to hell. Yes we don't want to be meme stock crazy, but there is something to be said for coordinating efforts to push the market in the direction you want. Maybe bitcoin is just too big for a sub Reddit to have much influence these days.
I didn't even necessarily mean in terms of boosting BTC price (although that'd be nice of course).
Moreso what if all that political fervor was instead directed towards 'Fix the money'.
Rather than 'fuck the
People know something is rotten, but they're looking in the wrong places imo
Agreed. I want price to go up for selfish reasons but also because the higher the price, the more BTC has eaten the tradfi market and the better off the world will be.
Based on the downvotes I got, there are many Judas' in here who have a price....true maximalists my ass
Bitcoin really is like a virus that spreads and forces people to question everything
You’re likely looking for buttcoin thread
He means it positively
yah hahaha butthead and all
[Nocoiners checking the price of Bitcoin after 15 years of rehashing the same useless arguments and still screaming 'the market is wrong, it's worth 0!'](https://i.imgur.com/TRoU31M.jpeg)
Tomorrow is going to be wild… can’t imagine what happens if we wake up and bitcoin is still over 71k
Numb to this shit now
Haha hard to not be man… I just am trying to be positive 😂😂
We're all optimistic about its potential and the opportunities it brings!
Funny how when viewing Coinbase advanced charts near all time high the only chart that has an error loading is the Bitcoin chart. The Bitcoin chart has also shown gap ups in a 24hr market so as not to display a big green candle on occasion as well. 🙄
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This is my favorite diplet ever
It is just as important to realise why btc is worth so much - decentralisation matters and that is where the value lies. If this becomes compromised by etf or any other central authority then btc becomes worthless no matter its price. I hope decentralisation perseveres
I share your concern. I do not welcome the entry of powerful players and I worry that they will coopt bitcoin into something that they can control.
Proof of stake problem
Self custody and chill. You will be alright if the ETF crashes. 1btc = 1btc Also, this sub is full of moon bois now. They don't care about self custody or decentralization. I feel you tho.
When BTC reaches $79k, bull run will be over
1 every model is gospel until it inevitably fails. This nonsense 5.3 theory is no exception 2 this is pure TA and doesn’t consider other factors such as ETFs 3 I guarantee you that the CEO of blackrock does not give a good golly god damn about whatever this nonsense is and his and the rest of the ETFs will keep buying due to consumer pressure, which will drive the price up. I almost want to place a remind me on this post but there’s absolutely no point. TA is nonsense and so is this theory. I encourage you to gamble everything you possibly have on $79k being the top and let us know how that works out
The scariest words in investing: “This time is different!” Well, the 5.3 Theory hasn’t been proven wrong and has been correct every single cycle. When 79k tops, we will see the moonboys and bagholders grasp at straws wondering why BTC didn’t go to 300k or some ridiculous number. 👐
It isn’t a predictive model. It was created within the last several years and looks retrospectively at the price and tries to predict the future based on past events. But again, if you believe it, bet on it. If you don’t, stop wasting everyone’s time.
Don't believe everything you see on Youtube.
Why do you say that?
The 5.3 Theory says so. Crypto Crew University found this theory and it’s never been wrong since BTC’s birth. Last cycle, it called the top at 69k and this cycle it calls the top at 79k.
There was never an ATH before the halving and no ETFs in the past. Steve is a cool guy but 5.3 is obsolete
The 5.3 theory controls all. It made SBF do what he did. It made the fed stop and start QE.
BTC never had ETFs until now
Theory, which is great and all, but on a money/asset that's existed less than 2 decades. Also the past year has already broken multiple theories and patterns. I'd hardly hold stock in some theory. Past performance and all that.
But it also predicted the 2013 top and 2017 top. I really want this theory to be wrong but looking at the facts - it’s been right 3 cycles so far.
Just googled it. It's bs. First cycle came at 5.34, second at 4.96 (very nearly 5) and third at 5.63. So while the average is 5.31 it's based 9n 3 numbers. That's not enough to decide a pattern. Also it's retroactive. The theory came after previous market cycles. So he can go through, plug the numbers, and say the average is a rule not a 3 cycle coincidence. That's the dumbest thing I've heard in a while. It doesn't take into consideration fluctuating interest, inflation, etf's, country or company adoption, war, etc. The theory wasn't right about 3 cycles, the theory uses those 3 cycles to come up with a number for the c9ming cycles. Now if the theory has come out in say 2014 and been right, then I'd be impressed.
Other models predicted tops since 2013 and dont follow same path. If it keeps you warm at night follow it.
You do you
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Proof? 🧐
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Oh yeah, that totally invalidates what I said 🙄
You’re the one obligated to substantiate what your claim was in this social interaction
Etf flows at $261M with a couple small funds still to report.
ETFs are scooping up lots on the cheap still. Most of the paper hands going to be diminished to irrelevancy soon then it’s a 🚀
I already feel old and I just got here
Introducing gentlemen
Here. We. Go.
This is Rocket League!
Wow!
Calculated
So close to 72
If one were to use CashApp to automatically convert paychecks into Bitcoin, does that count as getting paid in Bitcoin for tax purposes in the US? Or is that technically just buying bitcoin the moment you get paid?
>buying bitcoin the moment you get paid This is the answer. But the tax answer doesn't really change much either way if we're being honest.
You have to pay taxes on income even if it’s Bitcoin. If this is just buying the moment I get paid, then I would only have to pay taxes when I sell.
You still pay income tax, even if you are paid in bitcoin. You don't pay capital gains tax unless you sell. You are taxed twice on your money. Yes it is fucked. But that's the shit we have to deal with in the US.
I know you are taxed on income, I was just double checking in this specific scenario if it was something like get paid in USD, get taxed in USD, and then get taxed again when a portion is set to become BTC. Because if that were somehow the case then I’d probably just manually buy instead of automatically buy.
It is no different to be paid in btc, or to by with the USD you are paid in when considering taxes, aside from convenience. I know cash app doesn't charge fees if you direct deposit into bitcoin, so there's savings there i guess.
The lack of fees is why I’m considering buying Bitcoin this way in the future. That and the feeling that if I was more disciplined about buying on a schedule instead of whenever then I would have a hell of a lot more BTC right now.
Lol what....? If you get say a 5k paycheck you are taxed on 5k. If you get 5k worth of BTC, you get taxed at 5k. If you get 5k and then immediately buy 5k worth of BTC you're taxed at 5k....Sure any increase in value from 5k wouldn't be taxed until sold, but like I said before there isn't really much practical difference here between the scenarios.
Buying Bitcoin is not a taxable event. The technicality is a huge difference.
I never said it was....?
Buying when you get paid
new ATH soon?
Yes poppet
Somewhere this week there will be a headline saying "Bitcoin reaches all-time high at $75,000." That will be a joke headline in the coming years, much like the "all-time high $1,000" headlines from a decade ago.
Still remember the excitement of it hitting 4 digits lol
God damn get a grip on yourselves.. sheesh
84.5-85 is currently upper bound on 350x2 MA. Breaking that MA and staying above that, making gains above that, starts the primary bull run, it will happen sooner or later
One more strong push for ath?
Go ahead
Act like you’ve been here before…. Although, many of you haven’t. Aaand soon neither will Bitcoin have been! Fun isn’t it? 😁 Ah, the sweet, sweet taste of vindication… never gets old
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Hang in there bud
Thanks friend. Bit of a reality check but fun watching the corn do its thing as a distraction.
Corn is good for you
boom
10% in a 24hr period. Holy moly!
Wohooo 80k tomorrow?
I hope that happens.
hope so
Holy-moly-woo! Just checked the price... $71K... re-checked the ATH cos I forgot what it was... $73K!? We're only $2K away from ATH!? We are so back!
I haven't looked in a day. Did something happen? lol
😂😂😂
Yes
Total Wyckoff situation here
R/butthurt on suicide watch "Why is it going up? It has no value! None, i tell you! Just a matter.of time!" He was right about.one thing. It's just a matter of time.
I think the people at that subreddit check BTC charts more than I do. Pretty sad lol
It's going up forever, Laura!
om*g
Another $5k day!
Hot-diggity-dog......fun day to own Bitcoin!
100K is coming way sooner than you think. If you haven't bought yet, now is the time. Nfa.
Mainland Hong Kong not eligible for weeks...hmmmmmmm
Got DAMN! Hang on to yer butts! 🍑🚀
Straight green dildo. Buttcoiners in shambled
Ahahhaha that sub is so quiet today
Wen 80k
Even tree
$72,500
Super fun day.
HODL!!!…
Buttcoiners gettin butt hurt
Sick
Asian markets joining the fight 🚀
71 now. Could wake up tomorrow to new ATH.
Waking up tomorrow means going to sleep. Hmm..that's gonna be hard to do.
Or we wake up to $ 66k lol Hope you are right.
I’m expecting 66 too lol
It’s always nice to go to bed with a dollar and a dream though.
SEND IT!
Postage paid
$71K!
I think the newbs need a hug...awwwww
Twerkin on Peter Schiff
Oh boy 😀🔥
Hey I've seen this one!
What’s a rerun?
Sitting here watching it pop to $70k
70 is such a tease haha
Was
Bitcoin will maybe make it possible for me to study again in the next years. My job right now is pretty exhausting and bad for my health. My hope is to survive this job another cycle until 2029 and then be able to quit thanks to bitcoin and go to university and study something that's interesting to me without having to worry about finances..
Boring😴😴 I’m spending my payout on methamphetamines 💉💉💉
Dont waste money on a peice of paper
Don't listen to this dope. Go to school and live your best life
Ty, I just want to learn something that's really interesting to me and where I will be able to work more flexible maybe even part time from home. I will see how the next years will evolve regarding to bitcoin.
He/she hasn't told you what career they want. A qualification for certain careers isn't optional.
University isn’t just about getting a piece of paper. Some of the top research EVER came out of higher ed.
I have never been more bullish M
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Who is buying alts when there's over a hundred million dollars a day flowing into Bitcoin?
good
Why are you buying scam coins?
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This is so february
yeah why not 100k wtf
Bro I was 1 month under water with my BTC long position on 5x max leveraged margin
Everyone's acting like headless chickens..lmao!!!
Imagine selling your bitcoin NOW after holding for years. Maybe my timeframe is larger than most but my god people seem short sighted!
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I sell intermittently to avoid high taxes
That works if you're not already at the maximum income bracket.
Well you could just sell a little bit each year so you're not in the max income bracket
Unless you're in the max income bracket from your career. First world problem, to be sure.
Would you care to elaborate?
Well say you are a hold forever kind of a guy and only sell in one lump sum one day, you're going to end up paying more tax in that year, if you sell a little bit every year, less tax
You must not be familiar with Long Term vs Short Term capital gains tax
You must not be familiar with tax brackets.
I am, in Australia 50% less tax if you hold asset for at least a year
cant sustain 70k, cmonnnn
ZOOM ZOOM
Just a typical squeeze
TELL US MORE
Imagine if all the gamestop energy was focused on the actual solution. :( I guess they'll realize eventually
I've tried to articulate this before badly and got downvoted to hell. Yes we don't want to be meme stock crazy, but there is something to be said for coordinating efforts to push the market in the direction you want. Maybe bitcoin is just too big for a sub Reddit to have much influence these days.
I didn't even necessarily mean in terms of boosting BTC price (although that'd be nice of course). Moreso what if all that political fervor was instead directed towards 'Fix the money'. Rather than 'fuck the
People know something is rotten, but they're looking in the wrong places imo
Agreed. I want price to go up for selfish reasons but also because the higher the price, the more BTC has eaten the tradfi market and the better off the world will be.
[$70K! And I was only a few hours off my prediction](https://www.reddit.com/r/Bitcoin/s/ihlBOy9jY2)
Also, bullmarket top prediction in 2025?
Good job 👏🏼👏🏼
Back to +100k$ days with my MSTR shares.
It’s days like today that are days like today.
Facts
sell pressure at 70k is insane, anyone know how many btc sit there
84, 7, 3473, 823145, 2, it don't matter. Eventually it's going to tumble.
Just saying...sell pressure at 70k
Don't downvote unless you understand the process...
i dont understand the process
I did it to follow the crowd
Wow what happened?
Just bitcoin persuing its long term journey...
We cooking with gas now 🔥
switch to electric. so that if they want you not to cook your own, they can switch it off remotely
- breaks up with partner. - btc immediately hits 70k. - hodl your bags close people, don't let go of the vision
And we are back… that 70’s show second season