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Bitcoin tops $66,000 as it nears 2021 all-time high
CNBC ^ | 04 March 2024 | Tanaya Macheel

Posted on 03/04/2024 8:23:40 AM PST by zeestephen

The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. [All time high - $69,000 - Nov 2021] [High today - almost $67,000]

(Excerpt) Read more at cnbc.com ...


TOPICS: Chit/Chat
KEYWORDS: btc; crypto
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To: pterional

is bitcoin a leading indicator of a lack of big institution confidence in banks?


21 posted on 03/04/2024 9:40:04 AM PST by ConservativeDude
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To: ConservativeDude

One week from today the Fed bank loan program ends.

https://www.federalreserve.gov/financial-stability/bank-term-funding-program.htm

Here’s banking information from Friday.
https://www.nytimes.com/2024/03/01/business/new-york-community-bank.html#:~:text=NYCB%2C%20which%20is%20based%20in,Atlantic%20Bank%20of%20New%20York.


22 posted on 03/04/2024 9:53:25 AM PST by EEGator
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To: zeestephen

As I write this...

Trading at $67,200.


23 posted on 03/04/2024 9:58:57 AM PST by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: zeestephen; aMorePerfectUnion

I’m wondering when I should bail out and cash in.

$80,000? $100,000?

My Coinbase balance is only $3,173.86 Up $1,128.24 in the last month, And only 75% of my Coinbase is bitcoin.

Or just let it ride. I’ve only bought crypto with money I could afford to lose.


24 posted on 03/04/2024 10:10:40 AM PST by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: pterional

“My question is when bitcoin crashes do those dollars die or is this a massive wealth transfer?”

It’s all vapor one way or another. After COVID shutdowns destroyed my business the only “investments” that I was able to make that paid off (though not as good as my thriving business pre Chomo Joe and Kung Flu lockdowns) were materials, machinery, and education. Sure I wish I bought bitcoins ten years ago. But I had to eat. I wish I bought every scrap of property before the californians invaded. I wish I wish I wish. ALl I can invest in now with the pathetic industry I am in, is health and more education. Government managed to take everything else from me. Aside from FIBs shooting me and my dogs they can’t really take away education and training.


25 posted on 03/04/2024 10:45:10 AM PST by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: Responsibility2nd

Everyone seems to have their own criteria…


26 posted on 03/04/2024 11:02:19 AM PST by aMorePerfectUnion
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To: zeestephen

Don’t question it, folks. Just wait until the next sharp pullback of 5,000-10,000 (it happens) and buy as much as you can. BTC will get to at least $450,000 by September 2025.


27 posted on 03/04/2024 11:44:39 AM PST by montag813
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To: wny
It’s intrinsic value is still zero.

What is the "intrinsic value" of the fiat US dollar?

28 posted on 03/04/2024 12:14:44 PM PST by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████████ █ ███████ ████. FJB.)
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To: aMorePerfectUnion

Thanks - and yeah - it’ll be a wild ride.


29 posted on 03/04/2024 12:24:32 PM PST by GOPJ (Question: What are the two things Biden finds at ice cream shops? A. Ice cream and young children.)
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To: DiogenesLamp
So what is your idea of sound money? Dollars backed by nothing, with no scarcity?

I got into cryptocurrency 10+ years ago after spending some time pondering what characteristics made for good money. I drew up a chart comparing dollars to gold. Bitcoin had recently hit $1000, leading to some headlines that made me aware of it. I added a 3rd column to the chart, drew up all the criteria I could think of, and started grading the three options. The rest is history. You might find value in repeating the exercise.

30 posted on 03/04/2024 12:33:28 PM PST by EnderWiggin1970
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To: Responsibility2nd

There are a total of 1,850,000 available Bitcoins on all the Exchanges. This includes centralized and decentralized.

Over 10,000 coins are being purchased daily by the ETFs alone. Then you have companies like Micro Strategy and AARK investments buying a lot of Bitcoins. In addition, you have countries like El Salvador, Argentina and United Arab Emirates buying Bitcoins.

Currently there are 900 Bitcoins that are awarded daily to miners, but after April 20th it will be 450.

You can do the math and see it will run out by June/July time period or sooner. Then what do you think will happen to the price of Bitcoin when it’s no longer easily available?


31 posted on 03/04/2024 1:12:00 PM PST by Enlightened1
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To: Responsibility2nd

Every 4 years is the halving. Then you get a bull run for 19 to 24 months. This time because Wall Street is in there… People are saying it will be a super cycle. Meaning a bull market for 24 to 36 months. Others think there will be no pull back because the dollar is in trouble.

$1 trillion every 100 Days added to the Nation’s Debt

https://www.forbes.com/sites/digital-assets/2024/03/02/us-dollar-collapse-bank-of-america-issues-shocking-1-trillion-every-100-days-warning-amid-huge-bitcoin-ethereum-xrp-and-crypto-price-boom-to-rival-gold/


32 posted on 03/04/2024 1:14:54 PM PST by Enlightened1
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To: aMorePerfectUnion

Everyday 500M is flowing into BTC from Backrock. There are numerous other ETFs.

44 days to the halving and then only 625 available daily.

At some point the fewer BTC will cost whatever the ETF and exchanges have.

BTC is less than 2 months into ETFs and prices are doubled.

The halving may see 220K BTC.

We may see 1M BTC in a few years.


33 posted on 03/04/2024 1:23:27 PM PST by Jumper
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To: Enlightened1

Cool. I’m going to hold. If not buy even more now.


34 posted on 03/04/2024 1:27:00 PM PST by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: EEGator

Bingo. The historical norms have now been replaced by an increasingly rare commodity.

All the people dismissing BTC simply refuse to educate themselves. Most are probably people who never invested in their lives.


35 posted on 03/04/2024 1:27:05 PM PST by Jumper
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To: Responsibility2nd

Bear markets are temporary.

Inflation is money lost forever


36 posted on 03/04/2024 1:27:54 PM PST by Enlightened1
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To: Enlightened1

When it runs dry, 269k initially and Million USD with 18 months.


37 posted on 03/04/2024 1:28:39 PM PST by Jumper
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To: Tommy Revolts

Total spot Bitcoin ETF trading volume surpasses $5.5 billion, second largest day since launch:

• BlackRock: $2,410,752,472
• Grayscale: $1,530,679,380
• Fidelity: $1,075,371,219
• ARK Invest: $245,272,021
• Bitwise: $163,028,812
• VanEck: $27,470,679
• Invesco: $25,336,074
• WisdomTree: $16,375,176
• Franklin: $16,141,320
• Valkyrie: $5,035,376
• Hashdex: $315,654

But oh yeah it’s just Tulips.


38 posted on 03/04/2024 1:30:11 PM PST by Enlightened1
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To: EnderWiggin1970
So what is your idea of sound money? Dollars backed by nothing, with no scarcity?

Land. And with an out of control government, maybe not even that.

There is nothing certain.

Gold I suppose, but in all honesty, you can't eat it, and the only way it retains value is that people want it.

It is irrational, but it's shiny and people can make pretty things out of it. It doesn't have all that many real world uses other than Jewelry.

I got into cryptocurrency 10+ years ago after spending some time pondering what characteristics made for good money.

My recollection is that it was selling for around $50.00 when I was first made aware of the idea, but I said the same thing then that i'm saying now.

"The stuff goes to zero when the government sees it as a threat." Also "Tulips." The latest fad.

So what about Dogecoin, Ethereum and all the others?

Why is any of these things worth anything?

Because people want to believe.

Our whole system is on the verge of economic collapse, and none of these computer currencies will do better than anything else.

It's selling point is that the government can't control it. Well they can't until they decide otherwise. Then they can.

39 posted on 03/04/2024 1:30:15 PM PST by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: DiogenesLamp
If you can't see the colossal missed opportunity you had at $50, I feel sorry for you. It's not because "people want to believe" any more than a car has more utility than a horse because people "want to believe" in the car. Such talk completely dismisses the exercise I mentioned, of grading forms of money by specific criteria. (Land, for example, has utility, but is not very fungible, there are limits to its divisibility, and I doubt online retailers will be accepting it as payment any time soon.)

We've reached the point where the naysayers just keep repeating "government will ban it" as their sole remaining argument. But someone just posted an article on FR about the Chinese government criticizing and warning their people against cryptocurrency - again. Why, when they banned it years ago? Because such bans are ineffectual, and they know it. All governments can do now is fight a rearguard delaying action against cryptocurrency.

40 posted on 03/04/2024 2:02:09 PM PST by EnderWiggin1970
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