Then go down 80%.
It typically does.
THE EMPEROR’S NEW CLOTHES
Hmmm.
Guess I'm just too old, these investment makes no sense to me since its not backed by any commodity.
Real-estate makes sense, bonds OK, stocks sure, you own something real. Digital numbers I don't get reminds me of Tulips which were a actual commodity I guess.
The only thing you have to sell is speculation and I never gamble because the casinos never let me win...SOBs
It is kind of amusing to see the “financial” people act like this mind of volatility is “new” or “dramatic.”
This is how this thing has traded for more than a decade. The ETFs will tend to tone that down a little, but watching the price shoot up this morning was clearly a local blow off top…the drop wasn’t as bad as they used to be. It could still drop deep into the 50s and it would be considered “normal.”
It is not for the feint of heart. It’s best to just not look most days.
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
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etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Either both accounts are correctly updated, or neither is.
Seems like this block chain or ETF is not so secure after all.
Except the rally high could well approach $400,000 - $600,000
The ETFs are going to buy anoterh 10,000 BTC overnight and tomorrow based on inflows the 28th of February.
When the ETFs were approved in the US, they purchased 13,500 BTC almost every night after investments poured in. That was when BTC was around 40K per.
Today, it hovering over 60K.
Between the Asian markets and the institutional purchases, tomorrow we will wake up to see a repeat of today. It may be 65K in the morning.
The ETFs were expected to draw approxiamately 50B USD in 2024. They are sitting almost half way to those calculations in just six weeks.
Gold ETFs are experiencing huge outflows mostly headed into BTC ETFs.
The ETFs are creating a situation were demand exceeds daily mining production, which is 1250 today, and in seven weeks it will drop to 625 daily. ETFs worldwide are increasing like in China and even in Hong Kong. US ETF purchases of BTC are holding steady at 10-12x the daily production rates, and in the first days of the ETFs at 40K they were 25-50x the daily production.
My go to Guru has been awake for 72 hours. He beleived 14-days ago BTC would hit 62K on the 26th of Feb; he was two days late and two thousand under. He now calculations that BTC could hit 100K before the Halving evcent in 7 weeks.
There are models based on ETF inflows that calculate prices based on different amounts. If US financial services institutions put 1% of investor investments into BTC that alone was projected for a 2024 price of 77K. Now with updated demand these models are accurate within a few days and few thousand and they are pointing to 300K by year’s end.
My own estimates with 3% in investment funds in the US would drive it 177K, but all bets are off with the ETFs and that giant sucking sound of fiat currency circling the drain.
coinbase did not crash ... it has tripled since late October ...