Bitcoin breaks $57,000 as big buyers circle

Rueters ^ | Reuters

[NoLibZone]

SINGAPORE, Feb 27 (Reuters) - Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years. Bitcoin has rallied more than 10% in two sessions, helped by a Monday disclosure from crypto investor and software firm MicroStrategy (MSTR.O), opens new tab that it had recently purchased about 3,000 bitcoins for an outlay of $155 million. The original and largest cryptocurrency by market value has also been buoyed recently by the approval of bitcoin-owning exchange-traded funds (ETFs) in the United States. On Monday, trading volumes in several of the funds spiked and crypto-linked firms rallied too, in contrast to nervous broader markets.

[Jumper]

I have similar worries. It will not longer be a private exchange medium, but it will become the hedge against Fiat for elites in 10 years.

[Freest Republican]

Real estate either yields rents or provides a place to live.

As a BTC owner, I completely understand the confusion.

[1of10]

So for some one who might dip a toe in something they just don’t understand ...

What would be the simplest way to do that..?

etf seems simple ....but ?

[NoLibZone]

Vacant land does neither.

[NoLibZone]

Yes. ETFs run completely contrary to the hopes of the decentralization and escaping government control of bitcoin.

ETFs are just a simple way for the masses to get into bitcoin, but not the only way.

I would never buy an ETF bitcoin.

[NoLibZone]

Use an exchange such as coinbase.

They can hold it for you.

If you choose to get involved don’t do so unless you can afford to lose it.

And don’t respond to any emails asking if you tried to change your coinbase password.

Do a lot of YouTube research:

Ben Cowen Into the Crypto Verse,

Coin bureau are good YouTube channels to watch.

Investment Answers with James is a good one too

[1of10]

Do you know where options trading stand
on IBIT

I remember reading something about that a while back.

I like using 3x leverage tqqq ...sqqq to swing ...

I thought about doing IBIT but it looks like there is no way to swing and hedge ...?

I haven’t put a lot of work in to learning “coins” ..
I am kinda old and ... hard to learn new tricks ...
But ..... it seems Like it may be worth taking some time to check out.

I don’t think I want to buy coins...
wallets...?
different exchanges ..?
It just seems to be out of my space.

I don’t know ... but I do know the best way to learn, is just jump in and get a taste.

Just don’t know if it would fit the way I trade.
Is IBIT the sort of ETF you buy and hold .. or an overnighter?

Any hints or clues are welcome ...
thanks

[Enlightened1]

Nice!

[Enlightened1]

Your Bitcoin balance should be higher unless you sold along the way.

[Enlightened1]

Bitcoin over time has higher highs and higher lows due to mining and a limited supply.

It will have 21 million coins ultimately and will fractionalize infinitely and thus makes it deflationary.

So it teaches the holders to save with it.

Since I bought Bitcoin in late 2019 thinking I was late to the game because I could have bought in 2011 at $3. Anyhow, I am still up 1,300% in 4 years.

[Enlightened1]

[sergeantdave]

“What would be the simplest way to do that..?”

Avoid Coinbase. Avoid Coinbase. Avoid Coinbase.

Its TOS are Byzantine and incomprehensible. If anything goes wrong at Coinbase, it’s your fault. See TOS for explanation. Live help is run by dead bots.

Never, never, never link your main bank account to Coinbase. NEVER! Start a new bank account with only enough cash to satisfy deposits required by interactions with Coinbase. Never deposit more than $100 into your Coinbase account.

If you’re lucky enough to make a successful Bitcoin buy on Coinbase, immediately - right now - move it to your wallet.

Good luck.

[Jumper]

My favorite place to keep up and to learn is from a guy from Ireland named James. Today’s latest video is a good place to start, it recaps the past 24 hours and tells you about the new ETFs:

https://www.youtube.com/watch?v=QMDCmTPAoN8

He has a youtube page with ton’s of information -
https://www.youtube.com/@InvestAnswers

I started with Etherum mining. Coinbase is the key player after the ETFs were approved. Use Coinbase.

BTC is the only crypto that is designated an ASSET for tax purposes by the IRS. Gold and Silver are Assets. BTC is the only measure of value that is limited in Issuance. It’s supply can never exceed 28M. They continue to mine BTC for another 100 years. All other crypto’s are like Fiat currency which can be printed. Not so with BTC.

Learn about the BTC Halving in about 7.5 weeks so understand that it’s availability will decrease; however, Gold and Silver mining continues to expand.

At this moment you many want to invest in the ETFs. However, ultimately you will want to own 1/10th of a BTC or a whole coin. BTC, Etherum, Solana are probably your best investments. Your initial foray might simply be the ETFs. The ETFs are just like the Gold ETFs.

Follow James - stay in the Top 6 Crypto Coins... BTC, ETH, SOL, Cardano, etc.

A guide to financial freedom, real estate, crypto, stocks, derivatives, options and other tools to get to your financial destination!

https://investanswers.io
https://www.patreon.com/InvestAnswers
Links

WEBSITE
investanswers.io

PATREON
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NEWSLETTER
investanswers.substack.com

X/TWITTER
x.com/invest_answers

FACEBOOK
facebook.com/InvestAnswers

INSTAGRAM
instagram.com/investanswers

IA CLIPS
youtube.com/channel/UCH6KS5IiLfTyunVHPCDYT8Q

[1of10]

Ok ...

my entry point was
IBIT @ 32.605

.... let the learning curve begin....

I did find an inverse etf ...BITI

so that's cool.

I haven't found out a lot about other derivatives
I suppose that I will be checking out the links and such.

Thanks for the head start.

I'm just an old dog trying to learn a new trick ...

[NoLibZone]

2-267-24 at 10:37pm Its now 10-27-24 breached 57K

[NoLibZone]

I follow James as well.

[1of10]

AAWWWW on on (that’s no backwards)
OMG ...AWWWWWWW

now after hrs ... IBIT 32.56

I’m in at 32.605 ...... should I run? average down?...

JUST KIDDING ..... (but I have seen that reaction)

Good video ....

Some interesting movement for IBIT and BITI ...
very similar to the Qs ..
I could have swung a 30 minute exit and been green in IBIT AND BITI .... really interesting ..
IBIT @36.72 ...BITI @ 9.59 (if I remember correctly.)

Seems to Show a lot of demand for both.

Of course I am just building my position so I’ll be watching for a bit.
yields on the 10y seem to be an inverse indicator on the short term moves ... but it’s gonna take me some time to get a good picture.

thanks for taking the time ....
I love the Qtrain... I’m liking the look of the BITline(or what ever cool name you guys call it)

I still don’t have my head around this “halving” thing .. a split or reverse split sort of thing?

And it would be sweet to know if/when options would could be bought/sold .

So far so good .......
more fun than a bass boat.....

[NoLibZone]

Sorry, I know nothing about BTC ETFS.

I am sure such is covered by several folks on the Your Tubes.

[NoLibZone]

Halving explained:

https://www.investopedia.com/bitcoin-halving-4843769#:~:text=A%20Bitcoin%20halving%20event%20occurs%20when%20the%20reward,resulting%20in%20a%20block%20reward%20of%206.25%20BTC.

[1of10]

WOOO HOOO
32.63 ..I am back in the green ...
wew that was close ...... 8-)

halving
I just posted that ?? and now I get some educational material

you are a full service .... really fast .... info source ..
are you AI ?
...... I bet your AI ... cool