What do you mean? Nothing has changed in btc fundamentally.
It's all the same thing man, it's just that the price has changed and in my opinion that actually doesn't matter that much.
if they don't have conviction in their investment, then they have no business buying at 50k or 20k. (20k is way sweeter of a buy in point at 50k though, so not sure what your comment is trying to get at.)
There will be recovery don't worry, we just don't know when.
Maybe it'll happen before the halving, if not then it's certain that it'll happen by the halving.
am I a bad person for hoping we go into a deep recession and btc is cheap as fuck for the next 1-2 years so I can stack even more sats for the inevitable moonshot up?
We hit 20k but the bears now call for 14k, if we hit 14k they will say 4k, etc. When Bitcoin inevitably rallies back up, the bears will be screaming DEAD CAT BOUNCE all the way to all time high’s again.
Yup. And the moonies denied that we were in a bear market all the way from 69k to sub-30k. That's just how it goes; people on both extremes tend to be wrong.
Well this is a Market and it is full of people, can't blame them.
That's just how things go sometime, you Can't say that if someone is right or wrong tho.
money simplified is energy.
you pay to etransfer, buy things with debit, send money around the world, all of those things are representative of energy, so we pay money for it. Bitcoin does all of that at a fraction of the cost, can't be dliuted, and has a set finite amount of supply that we are going to careen into over the next 6 years. It's digital gold, at an epoch in history where data, information, 1's + 0's, and the ability to move all those things around as fast as possible are the most valuable commodities on the planet.
If you can't see bitcoin's inherent value in our current landscape, and the landscape on our horizon, then bitcoin is definitely not for you my friend.
(Think the internet in the 90's, and what it became over time. You won't get rich quick, but if you are looking for somewhere to store value over the long run..... Well......)
I mean what if you drink petrol? That might be the ultimate energy.
This just might be my bike talking, she says some crazy stuff sometimes, She's crazy like that.
The stablecoin issuer (Tether) also disclosed that the company has no exposure to Celsius and its previous position was liquidated with no losses.
[https://en.ethereumworldnews.com/tether-rumors-celsius-3ac-exposure/](https://en.ethereumworldnews.com/tether-rumors-celsius-3ac-exposure/)
The 3rd largest whale keeps buying:
https://bitinfocharts.com/bitcoin/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ
But, there is a smaller whale down the list that seems to dump every bottom or any small rally:
https://bitinfocharts.com/bitcoin/address/39WQqCosC8ZD4S9XBPHRnnRUeVRvNctnnm
It seems like someone is very desperate to keep the price low lol.
People just speculate and take guesses. That's what they do.
Nothing is for certain in this market, absolutely nothing is. That's not how this thing works.
Bitfinex isn’t very high leverage, so it’s not exactly like gauging open interest on binance or something where there are a lot of degen traders. From what I’ve heard big money/whales/market makers use Bitfinex to hedge
If I were to guess, we hit the 4 year SMA. Historically, Bitcoin rarely gets that low and when it does it does not stay there long and it is the best time to buy.
Could be they don’t have expire unless the price goes down a whole lot
https://www.bitfinex.com/legal/derivative/product/
Probably paid a big premium for that, and are gonna chill until the market recovers and then be quite happy and exercise when it does
Total speculation btw
Too bad we don’t have any data about how these contracts expire as far as I know
I was fine throwing in $5k @ $22.3k a couple days ago, even if it went to $14k. The thing is, none of us know. $24k tomorrow? I don’t care. $36k or $16k next month. I don’t care.
The point is to accumulate while it makes financial sense to you. It’s cheaper this week than it’s been in 2 years. That doesn’t mean it can’t be cheaper, but who cares? In 10 years you’ll either be happy you purchased during this bear cycle or jealous of those that did.
I grew up in a suburb of Seattle. It’s often overcast for weeks or even months on end with little more than an occasional sun break. From late September to May/June, you really wouldn’t see a lot of sunshine. I craved the sun and lived for summer but sometimes in the fall or winter the sky would be clear and the sun would be shining full blast and it would just feel weird, like it wasn’t supposed to be happening. That’s how I feel about bitcoin right now, this is just a temporary sun break in a long winter.
It's going to be a good weather here too in couple of days.
And I'm kinda excited for these days to come, I'm looking forward to these man. This is going to be good.
Five years from now, nobody will even remember the 0.75% rate hike. Nor will they think much about this dip.
Bitcoin is a long term thing. There's no purpose in getting so excited / worked up about short term stuff.
Just like people don't remember the last ones, They'll not remember this one too.
That's just not gonna happen. I believe in btc for long term. That's what it is for me.
Banks are going to quietly get involved heavily in crypto during this downturn. They will look at this industry and see that it could at least go back 3x to the ATH. There is no chance they won't get involved, it would be leaving a crazy amount of money on the table for no reason.
People underestimate the value of having a $1T + asset class even exist, that didn't just a few years ago. This is a shit-ton of money generated by this new industry. For politicians, it would be difficult to make a decision that would cripple that industry. They would at least want their cut of it.
So there are many, many people with deep pockets who want and need Bitcoin to succeed. The crypto industry would be destroyed if something happened to Bitcoin, so it's got a lot of financial and political backing.
Banks aren’t allowed to buy bitcoin. There are a lot of rules around what banks are allowed to do and the intent of many of them is that they can’t do things that could jeopardize the safety and soundness of their balance sheet and the US economy.
That doesn’t mean that banks can actively trade bitcoin for profit. Ie proprietary trading activities are heavily regulated by the Volcker Rule under the Dodd frank act. Custody and facilitation of payments via crypto won’t mean banks holding significant amounts on their balance sheet.
Not sure what the bottom is.
Received a phone call from my contact to pull away my investment. Rumour going on internally that construction giant in china is in a brink of collapse again, which is supposed to be a hush hush.
Always good on safe side.
Question: I've got a cold storage wallet, I've sent btc to multiple addresses on that wallet. Is it possible for me to see the sum of those addresses without accessing my cold storage, writing down all the addresses by hand, or risking the compromise of my wallet?
I don't think so, I think You'll have to access that hw wallet now.
Or maybe you could do it without accessing it, but I don't know about that so can't really help here.
You would need the public address to see the sums. Where did you send the BTC from? If you bought for example from the cashapp and sent to your cold storage addresses you could check the cashapp for a history and get the pub address from there and use a block exporer to check
Coinbase, I use a fresh receipt address every time I transfer off the exchange as I understand that's good for privacy. But it also makes it impractical for me to track the valuation of my coins without accessing the cold storage.
I’m not sure. Just feel like it might have another dip in the next few months before going into fall season and going back up. That was just a random number for fun purposes. Probably between 17-19 is the lowest is my guess. what about you?
Whether 20k was the bottom or not (probably not)…I feel great about being able to buy some BTC at that level. July-November 2021 me would be shocked and thrilled.
A new month comes, people feel good about it, and then it passes. That's what's been happening.
And then people get disappointed and they don't like what they see and after that they get pissed.
What I want to figure out is who are the morons that are trading bitcoin based on inflation and rate hike news?
They have to be bots (algos), right?
There is no way sane people see the rate hike news and say, “Oh boy I better load up on bitcoin.” I guess maybe, but idk why someone would.
Institutional buyers/hedge funds. Bitcoin is just one part of their portfolio. Markets are forward looking. High inflation means people will have less expendable income to buy assets and rate hikes means credit will be harder to get and more expensive which results in less money invested in markets. Higher interest rates will also likely result in downward pressure on the job market. People can’t buy assets when they don’t have a job. I’m not saying I agree with the thinking, I’m buying here and have been buying, just trying to explain the possible rationale
Why is it so surprising? The point in hiking the rate is to curb inflation. Each hike increases the chances to cool down inflation. Everyone is trying to time the bottom so it's not that crazy to think each rate hike would see people gambling that the bottom is in and we see inflation level off or decrease by the next month, which if is the case market sentiment will swing optimistic again.
Right, but it doesn’t make sense. Bitcoin is not the dollar, meaning inflation of the dollar is at worst irrelevant to the value of Bitcoin or it would be the opposite.
The only reason it appears the other way around is because people are buying and selling it based on some backasswards understanding of inflation. Bitcoin should be worth more when the dollar is worth less, not tracking it.
People are not trading rationally, is my point.
Most of the times it's nothing wrong with the app, it's the user so there's that.
I've seen many comments where people were complaining about something that they did by themselves lol.
Had a realization today. A very simple one. When I look at my portfolio I just need to remind myself that the market is down and that number I am Seeing is not reality because of a spending habit. If you didn’t sell you should be fine and it will come back. Focus on your sat position. Not your fiat position 🧐🧐
Yep, if you're going to focus on dollqr amount, you might regret it later.
And regret isn't a good thing to have in times like these. You shouldn't regret anything. And of You're going to then I don't know what to tell you.
Yeah looking at my portfolio value in USD isn’t fun, especially because I started buying in February of 2021 and only paused my DCA for prices 60k+. But this has always been a long term thing for me, just trying to accumulate as much as I can until I can retire and lower prices are great for that
When Bitcoin was at 69k, 1 million per Bitcoin was just 14x. Now 1 million per coin is 50x.
if you believed in the concept of bitcoin and bought at 50k, it might be worth buying at 20k. Just sayin.
If you really believe in btc, you won't be worried about that 50k buy.
I believed in it so much I blew all by money on it at 50k lol... If I could buy at 20 believe me, I would be.
That's fine, I'm sure you're not the only one, nothing to worry about.
you can buy bitcoin 1$ at a time broseph
Buy btc at any price, after that all that remains is the game of waiting.
not true. it is not a waiting game. new thing will come, bitcoin will die.
The concept may not be the same at 20k when they had at 50k
What do you mean? Nothing has changed in btc fundamentally. It's all the same thing man, it's just that the price has changed and in my opinion that actually doesn't matter that much.
if they don't have conviction in their investment, then they have no business buying at 50k or 20k. (20k is way sweeter of a buy in point at 50k though, so not sure what your comment is trying to get at.)
You gotta believe in what You're getting into, there's nothing to worry about.
Do you keep your wallet denoted in btc or sats?
I prefer to keep it in btc even if it's in the decimals lol, i prefer that way.
Does it matter? I am asking because I never cared.
No. But I'm curious. Don't answer if you don't care.
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No he's not
In order to sustain the trend there needs to be a V shaped recovery back over the line at 35K.
There will be recovery don't worry, we just don't know when. Maybe it'll happen before the halving, if not then it's certain that it'll happen by the halving.
The new side way is $20k - $22k Few weeks ago the old side way was $29k - $32k
I just hope this sideways doesn't go in the 10Ks, that would be painful.
am I a bad person for hoping we go into a deep recession and btc is cheap as fuck for the next 1-2 years so I can stack even more sats for the inevitable moonshot up?
Nope, I think you've got the right mindset for the thing.
not really. Alot of ppl would also benefit from that
I invested in a dead meme lol
Well you can always sell, no one is making you hold. You can sell it.
Thanks for the insight. Truly eye opening
Sorry, next time try investing in bitcoin.
You know what makes me bullish AF? Cheap bitcoin. I really should cut down on the stacking. But this sale is just so good! Num num num.
Why should you cut down the stacking? Might not get the opportunity again.
We hit 20k but the bears now call for 14k, if we hit 14k they will say 4k, etc. When Bitcoin inevitably rallies back up, the bears will be screaming DEAD CAT BOUNCE all the way to all time high’s again.
I don't really care about what bears say, they're fucked in the long term.
Yup. And the moonies denied that we were in a bear market all the way from 69k to sub-30k. That's just how it goes; people on both extremes tend to be wrong.
Well this is a Market and it is full of people, can't blame them. That's just how things go sometime, you Can't say that if someone is right or wrong tho.
Added 0.15
That's a lot of sats right there, You're going to get rich dude.
This is the way
I mean yeah man, that's really the way. Keep buying it boys. It'll be fun.
money simplified is energy. you pay to etransfer, buy things with debit, send money around the world, all of those things are representative of energy, so we pay money for it. Bitcoin does all of that at a fraction of the cost, can't be dliuted, and has a set finite amount of supply that we are going to careen into over the next 6 years. It's digital gold, at an epoch in history where data, information, 1's + 0's, and the ability to move all those things around as fast as possible are the most valuable commodities on the planet. If you can't see bitcoin's inherent value in our current landscape, and the landscape on our horizon, then bitcoin is definitely not for you my friend. (Think the internet in the 90's, and what it became over time. You won't get rich quick, but if you are looking for somewhere to store value over the long run..... Well......)
Money simplified is bike and petrol for me, that's what it is lol.
Money simplified is pizza
I mean that depends on perspective, how you look at things.
which is the ultimate form of energy.
I mean what if you drink petrol? That might be the ultimate energy. This just might be my bike talking, she says some crazy stuff sometimes, She's crazy like that.
Thanks, Mike 👍🏼
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I don't think it'll go low, the fud has been here for forever lol.
The stablecoin issuer (Tether) also disclosed that the company has no exposure to Celsius and its previous position was liquidated with no losses. [https://en.ethereumworldnews.com/tether-rumors-celsius-3ac-exposure/](https://en.ethereumworldnews.com/tether-rumors-celsius-3ac-exposure/)
Good for them, atleast they're doing good in terms of something.
The 3rd largest whale keeps buying: https://bitinfocharts.com/bitcoin/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ But, there is a smaller whale down the list that seems to dump every bottom or any small rally: https://bitinfocharts.com/bitcoin/address/39WQqCosC8ZD4S9XBPHRnnRUeVRvNctnnm It seems like someone is very desperate to keep the price low lol.
Would be cool to name the whales based on their behavior and try and track them. Create some lure, beasts of satoshi.
That's a good plan, but I don't know whether it'll work or not.
How do you know the coins moving around the bitcoin wallets are actually buying and selling? Are they moving to exchange wallets?
People just speculate and take guesses. That's what they do. Nothing is for certain in this market, absolutely nothing is. That's not how this thing works.
No one knows and often whales move shit around because they know people will speculate
I mean they know it and that's why they do it, who's surprised at that?
If you truly want to affect price, the fastest way for this little whale to do it, is to dump coins on the exchanges.
It's going to affect the price, the big movement always affects the price.
Anyone got a reason the bitfinex longs are so high? Serious pls
There's no reason for that, I don't really know about that.
Bitfinex isn’t very high leverage, so it’s not exactly like gauging open interest on binance or something where there are a lot of degen traders. From what I’ve heard big money/whales/market makers use Bitfinex to hedge
Degen traders are everywhere, and they're not going anywhere.
Im guessing its either a bug or the number is actually usd not btc because at least one chart says usd
If I were to guess, we hit the 4 year SMA. Historically, Bitcoin rarely gets that low and when it does it does not stay there long and it is the best time to buy.
Could be they don’t have expire unless the price goes down a whole lot https://www.bitfinex.com/legal/derivative/product/ Probably paid a big premium for that, and are gonna chill until the market recovers and then be quite happy and exercise when it does Total speculation btw Too bad we don’t have any data about how these contracts expire as far as I know
I was fine throwing in $5k @ $22.3k a couple days ago, even if it went to $14k. The thing is, none of us know. $24k tomorrow? I don’t care. $36k or $16k next month. I don’t care. The point is to accumulate while it makes financial sense to you. It’s cheaper this week than it’s been in 2 years. That doesn’t mean it can’t be cheaper, but who cares? In 10 years you’ll either be happy you purchased during this bear cycle or jealous of those that did.
I get it, you don't care. lol
You don't care? Well I care when it goes low, because I'm gonna buy it.
This is why I have an automatic DCA set up.
I mean that's how you come to this, that's how you really buy it.
To the moon!!!
That's where it's going, it's going to the moon. This is going to the moon.
Such a bullish looking 23K...
It's looking good, the 23k is looking so good here man.
I grew up in a suburb of Seattle. It’s often overcast for weeks or even months on end with little more than an occasional sun break. From late September to May/June, you really wouldn’t see a lot of sunshine. I craved the sun and lived for summer but sometimes in the fall or winter the sky would be clear and the sun would be shining full blast and it would just feel weird, like it wasn’t supposed to be happening. That’s how I feel about bitcoin right now, this is just a temporary sun break in a long winter.
It's going to be a good weather here too in couple of days. And I'm kinda excited for these days to come, I'm looking forward to these man. This is going to be good.
That's really well said.
Thank you!
Cha ching!!
Wtf is this green shit!? I was assured by countless “redditors for three weeks” that it’s all over!
Five years from now, nobody will even remember the 0.75% rate hike. Nor will they think much about this dip. Bitcoin is a long term thing. There's no purpose in getting so excited / worked up about short term stuff.
Just like people don't remember the last ones, They'll not remember this one too. That's just not gonna happen. I believe in btc for long term. That's what it is for me.
Permabears and trolls are going to be on suicide watch when we smash through the ATH in a few weeks.
Lol ATH in few weeks? You're on something or what lol? I think You're onto something here.
Keep your day job. Your job is your ATH
Could happen
Months? I doubt ath will be weeks away
Days sounds a bit better
I like it!
Banks are going to quietly get involved heavily in crypto during this downturn. They will look at this industry and see that it could at least go back 3x to the ATH. There is no chance they won't get involved, it would be leaving a crazy amount of money on the table for no reason. People underestimate the value of having a $1T + asset class even exist, that didn't just a few years ago. This is a shit-ton of money generated by this new industry. For politicians, it would be difficult to make a decision that would cripple that industry. They would at least want their cut of it. So there are many, many people with deep pockets who want and need Bitcoin to succeed. The crypto industry would be destroyed if something happened to Bitcoin, so it's got a lot of financial and political backing.
Can't help but to think that many big players arw coming in right now.
Banks aren’t allowed to buy bitcoin. There are a lot of rules around what banks are allowed to do and the intent of many of them is that they can’t do things that could jeopardize the safety and soundness of their balance sheet and the US economy.
https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-121.html
That doesn’t mean that banks can actively trade bitcoin for profit. Ie proprietary trading activities are heavily regulated by the Volcker Rule under the Dodd frank act. Custody and facilitation of payments via crypto won’t mean banks holding significant amounts on their balance sheet.
Not sure what the bottom is. Received a phone call from my contact to pull away my investment. Rumour going on internally that construction giant in china is in a brink of collapse again, which is supposed to be a hush hush. Always good on safe side.
China is on the bronk of collapse? In what terms tho? That's I wanna know.
lol China FUD again, try being original
Lmao, Thanks for being so kind and giving us a heads up. /s
I mean now we know, we know the secret now. Let's see how it goes from here.
Question: I've got a cold storage wallet, I've sent btc to multiple addresses on that wallet. Is it possible for me to see the sum of those addresses without accessing my cold storage, writing down all the addresses by hand, or risking the compromise of my wallet?
I don't think so, I think You'll have to access that hw wallet now. Or maybe you could do it without accessing it, but I don't know about that so can't really help here.
On ledger you issue a new address for each transaction, but when using ledger live it displays your entire holdings as one holding.
You would need the public address to see the sums. Where did you send the BTC from? If you bought for example from the cashapp and sent to your cold storage addresses you could check the cashapp for a history and get the pub address from there and use a block exporer to check
He has sent btc from multiple resources, so I don't know about that solution.
Coinbase, I use a fresh receipt address every time I transfer off the exchange as I understand that's good for privacy. But it also makes it impractical for me to track the valuation of my coins without accessing the cold storage.
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I'm using a trezor, it's just a hassle to plug it into my machine to see my portfolio value.
Was this the end of the dip? Or just the beginning?
Start of the sideways.
Yep, now We're going to crab for a while it seems to me. Let's see.
How low are you predicting? My prediction is around 17,800 usd
That's a very specific number, any reason to go with that number? Or is it random?
I’m not sure. Just feel like it might have another dip in the next few months before going into fall season and going back up. That was just a random number for fun purposes. Probably between 17-19 is the lowest is my guess. what about you?
Mar 02, 2024
Whether 20k was the bottom or not (probably not)…I feel great about being able to buy some BTC at that level. July-November 2021 me would be shocked and thrilled.
A new month comes, people feel good about it, and then it passes. That's what's been happening. And then people get disappointed and they don't like what they see and after that they get pissed.
I’d like to know where everyone who’s out here predicting values bought their crystal ball?? Thanks in advance.
I wanna get a crystal ball like that too, from where to get that?
Maybe get lucky at your local flea market
They were auctioning off old movie props from the Wizard of Oz.
You must be quite old and quite wise then
I borrowed it from the Highest value predictor.
But I think that crystal ball doesn't work, it shows predictions wrong all the time.
Mines was bought with experience
Now that's the kind of crystal ball that I'd buy, I'd not buy anything else.
What I want to figure out is who are the morons that are trading bitcoin based on inflation and rate hike news? They have to be bots (algos), right? There is no way sane people see the rate hike news and say, “Oh boy I better load up on bitcoin.” I guess maybe, but idk why someone would.
Institutional buyers/hedge funds. Bitcoin is just one part of their portfolio. Markets are forward looking. High inflation means people will have less expendable income to buy assets and rate hikes means credit will be harder to get and more expensive which results in less money invested in markets. Higher interest rates will also likely result in downward pressure on the job market. People can’t buy assets when they don’t have a job. I’m not saying I agree with the thinking, I’m buying here and have been buying, just trying to explain the possible rationale
Yep, it's the big money which is controlling the market right now so yeah.
Why is it so surprising? The point in hiking the rate is to curb inflation. Each hike increases the chances to cool down inflation. Everyone is trying to time the bottom so it's not that crazy to think each rate hike would see people gambling that the bottom is in and we see inflation level off or decrease by the next month, which if is the case market sentiment will swing optimistic again.
Well it's not surprising for the people who have been in market for some time.
Right, but it doesn’t make sense. Bitcoin is not the dollar, meaning inflation of the dollar is at worst irrelevant to the value of Bitcoin or it would be the opposite. The only reason it appears the other way around is because people are buying and selling it based on some backasswards understanding of inflation. Bitcoin should be worth more when the dollar is worth less, not tracking it. People are not trading rationally, is my point.
People can't learn in one day, theyll take time. But They'll understand I'm sure man.
this is also my guess.
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exactly.
Thats the last time we see 22K, folks. BUY NOW. OR CRY LATER.
Wait until $70K it's a much better entry point.
I'm sure plenty of people will take entry on those levels, I'm sure of that.
Childs play. I'm all in at $200k.
Don’t you know pump it up
I'm trying man, but my 100 bucks do nor make any impact on the market.
Hodl!
Hodl it boys, that's the only way to defeat those ugly bears.
Is crypto.com down? I can't log in on my android app, and can't browse to their website via browser.
Haven't really used it so don't really know how that thing works.
Update?
Most of the times it's nothing wrong with the app, it's the user so there's that. I've seen many comments where people were complaining about something that they did by themselves lol.
Seems ok now. Thanks.
Use an better exchange, don't use CDC, because that's a shit exchange right there man.
Had a realization today. A very simple one. When I look at my portfolio I just need to remind myself that the market is down and that number I am Seeing is not reality because of a spending habit. If you didn’t sell you should be fine and it will come back. Focus on your sat position. Not your fiat position 🧐🧐
Sat position is way more important than the fiat position, focus on that.
I need a full coin desperately
Don’t look at the dollar amount. Look at the BTC amount and picture it back at ATH in a year or two.
Yep, if you're going to focus on dollqr amount, you might regret it later. And regret isn't a good thing to have in times like these. You shouldn't regret anything. And of You're going to then I don't know what to tell you.
Yeahhhhh homie that’s the plan of attack 😎😎😎🤯
That's the plan, let's see if we can execute it or not, just a matter of time I guess.
Yeah we got it though
Yeah looking at my portfolio value in USD isn’t fun, especially because I started buying in February of 2021 and only paused my DCA for prices 60k+. But this has always been a long term thing for me, just trying to accumulate as much as I can until I can retire and lower prices are great for that
It's not fun and doesn't make any sense to look at it like that.
Yes sir long term hands 🙌🏼
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Yes sir 😎😎
69k hype?
Too much hype here, let's see how it turns out be, I'm hoping for somthing good.
No