Posted on 03/08/2024 7:37:13 AM PST by Enlightened1
Leveraged Longs and shorts just got obliterated.
How is the US dollar different?
And don’t give me that “full faith and credit of the criminal US feral government” nonsense.
And it promptly dropped $1k. LOL.
The significant gains on the halving happen 4-6 months AFTER the event. So, the date in April traditionally would see a peak in prices in November/December.
The time around it is likely to be a sell the news moment because lots of noobs think it will double that week.
Of course…the ETF inflows are sucking up the existing supply very quickly. That is screwing with all of the “traditional” market predictors.
We will see how it goes.
That hasn’t been true in ages. A vast majority of bitcoin mining happens using renewable, surplus energy.
Smells like B.S., and more like “user error”.... Probably clicked on a phishing email and gave them on his info or to someone that called him or her? I could not tell you since I can’t see what transpired. All you have is their word.
There are several checks you have to go through before sending money. For instance, you have to approve it on your computer, cell phone and email when taking from an Exchange. If he or she had it vault, and it sounds like they did not then it’s even longer (48 hours moving it out of cold storage (offline) ).
I know people that do cash out a little here and there. It’s same day now transaction. Use to be 3 to 5 business days.
Yeah it swings back and forth.
What goes up, must come down.
Yeah, I’m highly suspicious that my friend did click on a phishing email link. I asked him and he couldn’t remember. Getting old, so he falls prey to stuff like this.
I helped him get his account secure and also to close his crypto account. I also helped him fight with the bank to get his money back. They restored his funds, about $2,300.
Here is Bitcoin’s price history since 2009.
There is a chart from March 14th, 2009 up to December 14th, 2023 to see the movement.
When in doubt about something. Just zoom out with a bigger time line.
https://www.bankrate.com/investing/bitcoin-price-history/
from your ears....
Blackrock is going to cover its losses in the Ukraine gamble.
I think the ETFs were approved in part as a way to correct the huge coming losses in corporate finance balance sheets when Russian occupies all those profitable property rights conferred by Zenlinski.
Bitcoin was going up but these ETFs will push it over the moon. The first 39 trading days of the ETFs saw 369,000 BTC flow into ETFs.
Money is flowing out of Gold ETFs into BTC ETFs.
I will keep my 5+ BTC and probably try to create a LLC or Corp which is based on 1 BTC Share and any additional Satoshis to create generational wealth.
FR Crypto Ping List!!
The over the counter desks have at times since the ETFs had no liquidity to sell or less than one BTC available.
Sam Friedman debacle is seeing 10k flushed into the markets and absorbed every day. That great flush will be over in a few months and the REAL upward price pressure will kick in after the halving in mining.
That halving before ETFs was projected to push BTC to 68k this year. Now it is Gold in limited number.
Of course you can cash out. In two years demand will outstrip supply. The monthly or daily investment into BTC ETFs us only going to increase.
Why? I think it can reach $150k by the end of the year.
Yet it is backed by nothing, except faith. At least the fiat currencies in the world are backed by the power and military of the backing nation.
Don’t get me wrong. You can make a lot of money with bitcoin. And people made a lot of money with Tulip bulbs. But it’s all about getting out before it collapses - and then comes back - and then collapses again.
Don’t get me wrong. I understand that it may endure. I just don’t believe an investment that is based on nothing but “faith” and the “greater fool” concept will survive in the end. Maybe history will change. I just don’t personally believe it will.
Time will tell. Especially in the next few years (see tag line)
You were a smart investor. I started building GUP Mining rigs in December 2017. I sunk 70k into them and electric. I took the 40 eth and traded cryptos until this year, while giving my boys each a BTC and taking 147k more out for myself and now I have just under BTC and have converted everything into BTC.
My son told me since I was a communications guru to check out mining and the rest us history.
I have made in 6.x years as much as I made a yr just before retirement at the State Department.
This BTC bull run is only beginning. I am done trading. It is time to hold.
I hope one day proof of BTC ownership will get me a Airport Executive Lounge access card;)
How is the US dollar different?
Bottom line, for me, is that Bitcoin is pure gambling. I don’t gamble - at least at that kind of level.
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