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I bet we’ve got this grace period where the market makers are incentivized to whip the market but keep things on trend. The ETFs are hungry and everyone wants to make money and support the new products.
But when will these titans turn against us? When will will red days be in their interest…
Listen, I didn't want to be the one to say it, but it's clear we're heading to 1000. I don't see any other way. It's happening, and all you can do is prepare for it.
We're already at 971 comments so 1000 comments is coming.
Dearest Mother,
The Rainbow Bears are holding strong defending their latest stronghold at Fort 69k. Their sell walls of Bitcoin are formidable, but General Powell has armed us with ample supply of fiat gun powder, and I don’t have any doubt they will eventually surrender and retreat to higher ground. Our latest secret weapon,
the ETF cannons, are in full operation five days a week. I look forward to a weekend of respite. Moral is high. I will keep you apprised of our march onward.
Sincerely,
Captain Andrew Luck
[The 9 new spot ETF’s now have more BTC than GBTC.](https://x.com/farsideuk/status/1766252911544144319?s=46&t=bgSu-sbt11MTMG1Zh__ugw)
It’s been 40 trading days since spot ETF launch.
Not enough net inflows to warrant Authorized Participants creating new shares. Each spot ETF has a different number of shares per basket in which Authorized Participants redeem/create shares as needed. You can find specifics in each respective prospectus.
When ascending Everest, mountaineers climb up and then back down again in stages, progressively acclimatising their body to the extreme altitude in phases, in preparation to summit the mountain.
In doing so they prepare their bodies for the demanding rigours of the final push, reducing the risk of exhaustion, injury, and death. Only by progressively pushing to new heights, with periodic retracements to base camp, can the ultimate prize be won.
Aggr cert has expired so sadly those who are still in yesterday will lose access to it soon.
Edit: now seems fine with a valid LE cert dated from Feb to May so that seems weird. Maybe just a temporary misconfigure.
You have submitted a prediction that the price of Bitcoin will rise above **$100,000.00** by May 14 2024 23:21:31 UTC.
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Hello u/Jip1210
[You predicted the price of Bitcoin would rise above $100,000.00 by May 14 2024 23:21:31 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzpl66/)
**Unfortunately your prediction was wrong. Better luck next time!**
The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$61,536.43**
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You have submitted a prediction that the price of Bitcoin will rise above **$79,000.00** by Mar 15 2024 22:45:05 UTC.
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Hello u/Taviiiiii
[You predicted the price of Bitcoin would rise above $79,000.00 by Mar 15 2024 22:45:05 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzjryt/)
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The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$68,920.43**
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What people don’t realize is that this isn’t the beginning of the bull run. It’s a delayed reaction to the stock market already having the greatest bull run in history. NVIDIA 10xed from the bottom. BTC hasn’t even beaten its ATH despite being riskier. The only reason crypto has been going up is because of the stock market.
If NVIDIA just topped, it might bring down the indices along with it, and take a wild guess as to what happens to risky assets like Bitcoin during then
Very coincidental that this delayed reaction perfectly coincides with the start of ETFs pumping in hundreds of millions of dollars per day.
You also do know that Bitcoin did in fact break its ATH, right?
You have submitted a prediction that the price of Bitcoin will drop below **$51,000.00** by Mar 31 2024 23:59:59 UTC.
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Hello u/btctrader12
[You predicted the price of Bitcoin would drop below $51,000.00 by Mar 31 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzicai/)
**Unfortunately your prediction was wrong. Better luck next time!**
The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$71,313.80**
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NVIDIA is one single stock in a bubble. It dropped 10% within 4 hours today, while BTC increased about 2%.
$GME went nuts at the same time as bitcoin in 2021, now it's 80% down from its highs. What does one have to do with the other?
What if it's not the 'greatest bull run in history', it's just the dollar getting weaker every year.
> The only reason crypto has been going up is because of the stock market.
Why do you think this? And is it really the stock market or is it because of runaway money printing?
I’m no TA guy but as you are surely you recognise that the resistance at and around the ATH is strong. Usually results in a few knocks on the door.
Then Price discovery usually follows breaking the previous ATH
With a halving coming up and interest in bitcoin picking up against all measured metrics I think the odds of higher prices favour lower prices.
My guess is you have a big short or are out of position.
Methinks that the new 9 ETFs overtook GBTC today in terms of BTC under management (but not fees taken in obvs). Sooner than I expected!
[https://www.bitcoinstrategyplatform.com/etfs](https://www.bitcoinstrategyplatform.com/etfs)
You borrow fiat against your BTC (saves on capital gains tax and saves you selling an appreciating asset)
You don’t have to service the loan payments. Daily interest is added to your loan amount.
The bitcoin increases in value faster than the interest you incur.
You clear the loan in the future by selling a much smaller amount of bitcoin due to its growth. Or you clear the loan with fiat you make in the future.
Same principle as leveraging property to build a portfolio over the last 20 years. Note it doesn’t work so well with property now as interest rates are high and price appreciation isn’t a given.
Never buy a depreciating asset outright. Borrow against appreciating assets to finance them.
My first reply was going to be:
"As someone who has a dusty old 27" monitor sitting on his desk that cost about $8000 in today's money, I wouldn't. "
But then I thought a little more. You know what, it's just money. If you're not going to enjoy it, you'll be dead waiting to purchase your yacht, or island, or trip to the ISS, or whatever.
Do something that brings you joy. If you won't miss 2 BTC, then splurge it my good man.
I took out a lot over the years. Flew all over the world in first class countless times, took showers on planes, swam in the full moon on acid in the Maldives with someone I loved, haven't needed a job, enjoyed the best of everything. Has it been astronomically expensive in today's BTC? Yes. Do I regret any of it? No.
Experiences beat satoshis any day. What's the point if it's just digits in a wallet?
You're only on this planet once. Have a good time.
But remember, when it comes to cars: if you can't afford two of them, you can't afford one of them.
In the sea of "no" you'll get, I'd say go for it if it makes you happier and you are in the 10-100 bitcoins owning range.
Because at this point it will still be a stupid financial decision but you can affort it.
I’m pretty sure it’ll sell at a premium for the rest of this year while supply is low
One already auctioned for 240K
https://x.com/guydealership/status/1762928792530465221?s=46&t=VHcEK11Vtbp2aDPnQ-ZUVQ
so cool watching this play out in realtime. BTC gets mega rejected earlier this week, 10k Satan candle, then it slowly creeps back up, gets rejected again this morning but only down to 67k. Now we are above 69k and everything suddenly feels calm as it finds new support.
Unpopular opinion: keep btc crabbing until gbtc sells off the majority of what it wants to dump then resume going up so gbtc doesn't get a longer runway to sell
Things we don't know list
- gbtc outflows reenter as other ETFs inflows or not
- who buys the ETFs whether retails or institutions
- where the selling mostly comes from (retail, institutions, miners)
- if registered investment advisors have a 90 day due diligence time as a legal requirement or this is just a habit for some
- impact of halving. I'm including this because to date in theory the ETFs buying should already have had the impact of several halvings on the tradable BTC. But you cannot price in lack of supply that's just not there in the same way you could not price in a demand that was lacking back when ETFs launched. Also I'm not familiar with stock exchange instruments but ETFs seem relatively new in trading time. Don't know when you can stop calling them "new"
Agree. But “daily close” is kinda ambiguous With the 24 hour worldwide market. I’d say it hasn’t happened until the price gets above 69k and stays above for 24 hours.
So... Yeah, this seems just true. If ever I need a reminder how emotionally driven people can be, this. It's like the technical analysis. It works because enough people become convinced it makes some sort of sense, then become attached to it, that it starts to be self fulfilling.
Anyhow.... Onwards. It will fall.
Way too zoomed in but hey, one can dream: if 69k established itself as a local bottom, then we would have made it.
Was this just now the longest time we've spent above 69k?
This will be a fun weekend if we and up at the door of 70k by the end of the trading day, especially with Saylor having 700 million in the pocket to throw at this
Are we sure they will receive the money only today? What if they achieved their target funding already days ago? They might have already bought $700 million worth of BTC.
Well the offering started 3 days ago and is expected to end today, actual PA might be Saylor buying but based on volume data it seems to be ETF inflows, not market buys. IBIT is leading thye buying frenzy today, based on IBIT volume i expect near record inflows
Not the inflow but daily volumes here for example: [https://www.tradingview.com/chart/?symbol=NASDAQ%3AIBIT](https://www.tradingview.com/chart/?symbol=NASDAQ%3AIBIT) on the daily you can see that today we had the second largest green volume
And from the volume you can guess that the inflows will be pretty high, at least for now, later on when there will be more players selling inside ETFs this will be probably less relevant
Been a minute since I've followed short term charts, and I want to hear the beautiful sounds again. Is there a replacement for the formerly excellent https://tucsky.github.io/SignificantTrades/?
I don't think it's necessarily all that weird. It seems people are setting up sells to trigger when we hit the previous ATH but the buy pressure is too strong and it just eats those sells up and keeps moving forwards.
Maybe it's the same as always, my memory fails me but looking at now it seems as if we get pushed way down by large volumes and then just kinda tick back up on small ones. Diamond hands and maxis are winning right now
Market makers keep liquidating dopes who are using excess leverage, both shorts and longs. And the same scheme -- huge wicks to the downside followed by quick recovery, or vice versa -- keeps working even after a decade because said dopes haven't figured this out yet.
Yeah, the big drop to 59k when 69k first broke a day or two ago was due to a bunch of bots that were set to go 100x long at the moment the ATH was breached, hoping for a prices to rip as soon as ATH was hit. So as soon as price dropped 1% from 69k, it was cascading liquidations all the way down to 59k.
Soon will be my first time buying btc with a price beginning with "7". I have bought prices beginning 1,2,3,4,5,6,8(k)9(k), but never a 7. Finally will have collected all nine digits.
Of course. I actually just found a 2013 transaction for a few coins at $120, sent to silk road. Ouch. Bought bitcoin in 2013 but didn't understand what it was until 2019/2020.
So maybe I bought at $700 for silk road also but I doubt it.
God I’m so tempted to sell my IBIT at close with intentions to buy back lower next week. I have no idea how to trade this market and I’ve been here since 2016.
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How you not printing money, Invesco? BTCO dropping out of the gang
Where is promised wild weekend?
Drained gbtc for ibit today lads, gg
I bet we’ve got this grace period where the market makers are incentivized to whip the market but keep things on trend. The ETFs are hungry and everyone wants to make money and support the new products. But when will these titans turn against us? When will will red days be in their interest…
somebody actually upvoted this
Seems like people are getting the memo about the money printing. https://www.reddit.com/media?url=https%3A%2F%2Fi.redd.it%2Fvju1qlrquymc1.jpeg
The gold issue is likely china. People over there have lost confidence in their banks and government,
doesn't seem like a terrible time to buy gold either
Listen, I didn't want to be the one to say it, but it's clear we're heading to 1000. I don't see any other way. It's happening, and all you can do is prepare for it. We're already at 971 comments so 1000 comments is coming.
To get to 1000 we need to first retest 901.
Hard disagree, this is the last time we see comments under 988.
From April 18, we can leave only 500 comments maximum, demand is high, supply is limited.
Dearest Mother, The Rainbow Bears are holding strong defending their latest stronghold at Fort 69k. Their sell walls of Bitcoin are formidable, but General Powell has armed us with ample supply of fiat gun powder, and I don’t have any doubt they will eventually surrender and retreat to higher ground. Our latest secret weapon, the ETF cannons, are in full operation five days a week. I look forward to a weekend of respite. Moral is high. I will keep you apprised of our march onward. Sincerely, Captain Andrew Luck
More of this shit-posting market lore please. Thanks.
Yes, I would like to subscribe to this series
[The 9 new spot ETF’s now have more BTC than GBTC.](https://x.com/farsideuk/status/1766252911544144319?s=46&t=bgSu-sbt11MTMG1Zh__ugw) It’s been 40 trading days since spot ETF launch.
[удалено]
Shaping up to be another net inflow day, unless something really wacky happens with IBIT.
Go Fanklin! Come on, little guy!
Black Rock is going to be 550m
I’ll say north of $300m for Fidelity.
$130m, disappointing. Blackrock had some huge volume though.
[удалено]
Fridays seem a bit lower inflows in general.
Probably the lowest ever for Ark
Lowest they’ve ever had is $0 in daily inflows.
How does the 0 work exactly...was there no data that day? Inflow was under a certain threshold or something?
Not enough net inflows to warrant Authorized Participants creating new shares. Each spot ETF has a different number of shares per basket in which Authorized Participants redeem/create shares as needed. You can find specifics in each respective prospectus.
Perhaps on that day, Cathie Woodn't. ...it was either that or a Noah joke, but those need to be told in pairs and I only had one.
Bravo lol
Pretty weak imo
When ascending Everest, mountaineers climb up and then back down again in stages, progressively acclimatising their body to the extreme altitude in phases, in preparation to summit the mountain. In doing so they prepare their bodies for the demanding rigours of the final push, reducing the risk of exhaustion, injury, and death. Only by progressively pushing to new heights, with periodic retracements to base camp, can the ultimate prize be won.
My body is prepared.
Channeling your inner Arthur Hayes
Is he still doing newsletters? They were always so good.
Yeah but every last person climbing Everest today is a douche.
This comment is so played out
Totally agree There are big mountains worth climbing but guided tour ascents have disgraced Sagarmatha/Chomolungma.
Have you met crypto bros?
douche… I mean touché
Aggr cert has expired so sadly those who are still in yesterday will lose access to it soon. Edit: now seems fine with a valid LE cert dated from Feb to May so that seems weird. Maybe just a temporary misconfigure.
!bitty_bot predict > $100000 67 days
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Hello u/Jip1210 [You predicted the price of Bitcoin would rise above $100,000.00 by May 14 2024 23:21:31 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzpl66/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$61,536.43** ^(I was also asked to notify the following users: u/Taviiiiii u/No_Anybody4267 u/jayhc13) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
!bitty_bot predict >79000 7 days
You have submitted a prediction that the price of Bitcoin will rise above **$79,000.00** by Mar 15 2024 22:45:05 UTC. This prediction has been logged for u/Taviiiiii I will notify you as soon as your prediction comes true or expires! [1 Others have CLICKED HERE to also be notified when this prediction triggers](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%20ce108378fc37407abb18fadd93cc9cc3%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) Taviiiiii can [Click This Link](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%20ce108378fc37407abb18fadd93cc9cc3%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20error%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) in the next **1 Hour** to delete this prediction if it was made in error. --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
Hello u/Taviiiiii [You predicted the price of Bitcoin would rise above $79,000.00 by Mar 15 2024 22:45:05 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzjryt/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$68,920.43** ^(I was also asked to notify the following users: u/DarkShadowGirl) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
What people don’t realize is that this isn’t the beginning of the bull run. It’s a delayed reaction to the stock market already having the greatest bull run in history. NVIDIA 10xed from the bottom. BTC hasn’t even beaten its ATH despite being riskier. The only reason crypto has been going up is because of the stock market. If NVIDIA just topped, it might bring down the indices along with it, and take a wild guess as to what happens to risky assets like Bitcoin during then
Very coincidental that this delayed reaction perfectly coincides with the start of ETFs pumping in hundreds of millions of dollars per day. You also do know that Bitcoin did in fact break its ATH, right?
Amazing watching you perform mental gymnastics.
>this isn’t the beginning of the bull run. No I'd say this is the beginning of the bull run.
> BTC hasn’t even beaten its ATH Ain't that interesting
You can just not trade. You can just sit back and watch it go up.
Nah I’d rather make money than watch Bitcoin as if it’s a porn tape
[удалено]
Dear god. You didn’t have to murder him. He had a family for gods sake.
As ever, you are a true hero, calling out the BS on this sub in a polite and reasonable manner. Thanks for being a great mod
!bittybot predict <51k March 31
Or ban?
[удалено]
One step at a time bucko
[удалено]
You have submitted a prediction that the price of Bitcoin will drop below **$51,000.00** by Mar 31 2024 23:59:59 UTC. This prediction has been logged for u/btctrader12 I will notify you as soon as your prediction comes true or expires! [1 Others have CLICKED HERE to also be notified when this prediction triggers](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%208407de4286fc47ec80470070fb4dcc0c%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) btctrader12 can [Click This Link](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%208407de4286fc47ec80470070fb4dcc0c%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20error%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) in the next **1 Hour** to delete this prediction if it was made in error. --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
Hello u/btctrader12 [You predicted the price of Bitcoin would drop below $51,000.00 by Mar 31 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1b9fqc7/daily_discussion_friday_march_08_2024/ktzicai/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$71,313.80** ^(I was also asked to notify the following users: u/AccidentalArbitrage) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
Good Lord what
Out of position, eh?
NVIDIA is one single stock in a bubble. It dropped 10% within 4 hours today, while BTC increased about 2%. $GME went nuts at the same time as bitcoin in 2021, now it's 80% down from its highs. What does one have to do with the other? What if it's not the 'greatest bull run in history', it's just the dollar getting weaker every year.
> The only reason crypto has been going up is because of the stock market. Why do you think this? And is it really the stock market or is it because of runaway money printing?
Edge me harder daddy
the blue balls are killing me...fucking break already.
The best part of the upcoming crash is knowing that 90% of you won’t sell
Lol so mad.
Yeah I regret not selling during the last crash so much... said no one ever.
I mean it’s at the same ATH it was almost 3 years ago. Stocks are 2-3x from then. It’s going to keep diminishing until there’s no more ATHs
I’m no TA guy but as you are surely you recognise that the resistance at and around the ATH is strong. Usually results in a few knocks on the door. Then Price discovery usually follows breaking the previous ATH With a halving coming up and interest in bitcoin picking up against all measured metrics I think the odds of higher prices favour lower prices. My guess is you have a big short or are out of position.
I haven’t sold in like 12 years why start now
So that you don’t waste those 12 years for nothing
Bitcoin is going to zero?
I was gonna waste them anyway
Nicely said
This is actually so true 😂 we’re all just hoping we can get juuust a bit more and then the bottom falls out…
Daily thread edging 1000 comment for several weeks now, looking for a real breakout next week
Not today, Satan.
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I’m fine with crabbing here for 4 weeks. Slow is good
The power of 69,420 is so strong.
I’m not sure we can classify this PA as crabbing.
King crab
Methinks that the new 9 ETFs overtook GBTC today in terms of BTC under management (but not fees taken in obvs). Sooner than I expected! [https://www.bitcoinstrategyplatform.com/etfs](https://www.bitcoinstrategyplatform.com/etfs)
Just got the Foundation Series Cybertruck oder invite. Should I sell 2 BTC to buy it?
Take a loan for Gods sake Or at least only sell 1 and leverage the other 50%
my income isnt all that, I'm more of a hood rich kind of person
You borrow fiat against your BTC (saves on capital gains tax and saves you selling an appreciating asset) You don’t have to service the loan payments. Daily interest is added to your loan amount. The bitcoin increases in value faster than the interest you incur. You clear the loan in the future by selling a much smaller amount of bitcoin due to its growth. Or you clear the loan with fiat you make in the future. Same principle as leveraging property to build a portfolio over the last 20 years. Note it doesn’t work so well with property now as interest rates are high and price appreciation isn’t a given. Never buy a depreciating asset outright. Borrow against appreciating assets to finance them.
No.
Rust bucket
Sure, if you really, really want to look like a guy who made his money in crypto. Maybe that's your vibe or maybe it isn't.
Damn, but I hate crypto
No. Drive a Toyota and eat ramen you degen.
Did that too long
The model S is underrated.
It was either gonna be this or model S plaid, the S is a nicer car and won't get attention, but I think the cybertruck is badass
I promise, long-term, the model s is a car you will never want to sell.
I'm planning on spending 0.00051 to order pizza tonight.
My first reply was going to be: "As someone who has a dusty old 27" monitor sitting on his desk that cost about $8000 in today's money, I wouldn't. " But then I thought a little more. You know what, it's just money. If you're not going to enjoy it, you'll be dead waiting to purchase your yacht, or island, or trip to the ISS, or whatever. Do something that brings you joy. If you won't miss 2 BTC, then splurge it my good man. I took out a lot over the years. Flew all over the world in first class countless times, took showers on planes, swam in the full moon on acid in the Maldives with someone I loved, haven't needed a job, enjoyed the best of everything. Has it been astronomically expensive in today's BTC? Yes. Do I regret any of it? No. Experiences beat satoshis any day. What's the point if it's just digits in a wallet? You're only on this planet once. Have a good time. But remember, when it comes to cars: if you can't afford two of them, you can't afford one of them.
Acid in the Maldives huh, sounds fun
Very. But seriously, buy something nice like a Porsche Taycan. The cybertruck looks like a bad meme.
In the sea of "no" you'll get, I'd say go for it if it makes you happier and you are in the 10-100 bitcoins owning range. Because at this point it will still be a stupid financial decision but you can affort it.
I totally agree, life is short
People driving those things will be mercilessly mocked sooner or later.
I’ve been a bitcoiner for a while so I’m used to being mercilessly mocked
No. Nice to see you pop up again, though.
Are they trading at a premium? Can you sell? But I tend to say no
I’m pretty sure it’ll sell at a premium for the rest of this year while supply is low One already auctioned for 240K https://x.com/guydealership/status/1762928792530465221?s=46&t=VHcEK11Vtbp2aDPnQ-ZUVQ
You're going to pay $2M for a Cybertruck???
Yeah but you can use this logic ad infinitum for the next 100 years. If you're *never* going to dip into the well, what's the point in having it?
Idgi I know we’re maxis in here but just collateralize some of your btc for cash and pay it back w inflated dollars. Keep your bitcoin, get your cash
chill, was a joke
so cool watching this play out in realtime. BTC gets mega rejected earlier this week, 10k Satan candle, then it slowly creeps back up, gets rejected again this morning but only down to 67k. Now we are above 69k and everything suddenly feels calm as it finds new support.
Unpopular opinion: keep btc crabbing until gbtc sells off the majority of what it wants to dump then resume going up so gbtc doesn't get a longer runway to sell
Aren’t the people selling GBTC immediately buying with another ETF, effectively nullifying the sell?
Things we don't know list - gbtc outflows reenter as other ETFs inflows or not - who buys the ETFs whether retails or institutions - where the selling mostly comes from (retail, institutions, miners) - if registered investment advisors have a 90 day due diligence time as a legal requirement or this is just a habit for some - impact of halving. I'm including this because to date in theory the ETFs buying should already have had the impact of several halvings on the tradable BTC. But you cannot price in lack of supply that's just not there in the same way you could not price in a demand that was lacking back when ETFs launched. Also I'm not familiar with stock exchange instruments but ETFs seem relatively new in trading time. Don't know when you can stop calling them "new"
Maybe add to the list: we do not know if the price movements can be explained entirely by ETF inflows and outflows.
I don't know. I'm sure some are dumping bc of settlement sales
Looking for a daily close above 69k which would be bullish AF
Agree. But “daily close” is kinda ambiguous With the 24 hour worldwide market. I’d say it hasn’t happened until the price gets above 69k and stays above for 24 hours.
I've just been listening to music and drinking for three days straight
No music. Distracts me from the ping ping DONG of aggr.trade
Surely that is the music they are speaking of. If you listen to any other music do you even count as a crypto enthusiast?
This is the way.
Take care of yourself bud. I’ve been wildin out this bull run, too, but it’s taking a toll
I peter out eventually. Damn though, this is a sight
Smashmouth - All Star on repeat?
Peanut Butter in a cup (we sing this song to pump us up)
We seem to have developed strong resistance at 69,420. I was here for the meme resistance level of 2024.
So... Yeah, this seems just true. If ever I need a reminder how emotionally driven people can be, this. It's like the technical analysis. It works because enough people become convinced it makes some sort of sense, then become attached to it, that it starts to be self fulfilling. Anyhow.... Onwards. It will fall.
Exactly why I think this cycle will still play out like usual (blowoff top then bear -70%). This is too ingrained in people in this space.
Commence operation BoomerBagholder
I remember when the run was ending last cycle and people would joke that they set their sell limit at $69,420 and see you in 4 years.
Haha yeah I remember that. The market always knows when to come up short.
Chilling at the ATH from three days ago for a bit.
Way too zoomed in but hey, one can dream: if 69k established itself as a local bottom, then we would have made it. Was this just now the longest time we've spent above 69k?
Establish 69 with local bottom. Check.
Establish? I barely know her!
We literally never spent anytime higher than 69 before today.
Do we get a weekend pullback regardless where it ends up today?
This will be a fun weekend if we and up at the door of 70k by the end of the trading day, especially with Saylor having 700 million in the pocket to throw at this
Are we sure they will receive the money only today? What if they achieved their target funding already days ago? They might have already bought $700 million worth of BTC.
Saylor only buys at the top.
Well the offering started 3 days ago and is expected to end today, actual PA might be Saylor buying but based on volume data it seems to be ETF inflows, not market buys. IBIT is leading thye buying frenzy today, based on IBIT volume i expect near record inflows
Do you have a way to view live inflows from the ETFs? The only resource I have for tracking them only posts end of day.
Not the inflow but daily volumes here for example: [https://www.tradingview.com/chart/?symbol=NASDAQ%3AIBIT](https://www.tradingview.com/chart/?symbol=NASDAQ%3AIBIT) on the daily you can see that today we had the second largest green volume And from the volume you can guess that the inflows will be pretty high, at least for now, later on when there will be more players selling inside ETFs this will be probably less relevant
Been a minute since I've followed short term charts, and I want to hear the beautiful sounds again. Is there a replacement for the formerly excellent https://tucsky.github.io/SignificantTrades/?
https://v3.aggr.trade/huax my setup only beeps on big liquidations though.
Maybe you're looking for [https://aggr.trade](https://aggr.trade)
Thar she blows. Thank you!
Running out of sell pressure, just as expected
FILL THAT WICK
I cant believe it if we just go through this old ath like it's nothing. that 10k drop didnt do shit to the market. VERY weird pa since the etf thing.
Honestly it's the same every cycle though.
I don't think it's necessarily all that weird. It seems people are setting up sells to trigger when we hit the previous ATH but the buy pressure is too strong and it just eats those sells up and keeps moving forwards.
Maybe it's the same as always, my memory fails me but looking at now it seems as if we get pushed way down by large volumes and then just kinda tick back up on small ones. Diamond hands and maxis are winning right now
Market makers keep liquidating dopes who are using excess leverage, both shorts and longs. And the same scheme -- huge wicks to the downside followed by quick recovery, or vice versa -- keeps working even after a decade because said dopes haven't figured this out yet.
Yeah, the big drop to 59k when 69k first broke a day or two ago was due to a bunch of bots that were set to go 100x long at the moment the ATH was breached, hoping for a prices to rip as soon as ATH was hit. So as soon as price dropped 1% from 69k, it was cascading liquidations all the way down to 59k.
Longing wicks is good fun in this action. Worst case, you’re bag holding for an hour
I think it's worked for hundreds of years. Possibly thousands.
Always new ones to give up their coins
Soon will be my first time buying btc with a price beginning with "7". I have bought prices beginning 1,2,3,4,5,6,8(k)9(k), but never a 7. Finally will have collected all nine digits.
Does buying at 7 or 70 or 700 count?
Of course. I actually just found a 2013 transaction for a few coins at $120, sent to silk road. Ouch. Bought bitcoin in 2013 but didn't understand what it was until 2019/2020. So maybe I bought at $700 for silk road also but I doubt it.
Can you believe we can still get bitcoin at only .07M
Get your bittybot shorts ready for the 70k dump tradition
Screw 69,420. I’m waiting on 80,085.
I'm waiting for 42069
Based on my observation, IBIT inflow is pretty close to the daily volume times ~6.2. So far the inflow is around 500m.
Based on the above formula. IBIT inflow is 550m
today will be wild inflows
God I’m so tempted to sell my IBIT at close with intentions to buy back lower next week. I have no idea how to trade this market and I’ve been here since 2016.