Bitcoin Price Thread

bitcoin
cryptocurrency

#4761

We have been respecting this trendline since we broke 6k so a bounce now wouldn’t be out the question :slightly_smiling_face:


#4762

Be a bottom buyer not a bottom seller. For anyone holding a lot of bitcoin are you afraid of your valuation going lower and not recovering or are you going to be holding and accumulating more BTC? Who is panic selling here? Is it really panic selling or is it someone selling a lot of BTC on exchange to profit on leveraged shorts?


#4763

Check out the Mayer Multiple today, wow!


#4764

I have a 10 year plan in place from 2015. I don’t confuse outcome with strategy. My strategy is either right or wrong before the outcome is known. My strategy is based on the clear empirical evidence that trading has a high failure rate, with that same evidence supporting DCA and HODL with a high success rate, assuming the underlying “investment” does in fact have an expected return. With traditional investments, the expected return is derived from an earnings/dividend/interest model with the market price assigning a risk premium to that model. With bitcoin, the expected return is based on the network effect. The price assigning a risk premium depending on where bitcoin is perceived to be with respect to critical mass or an impenetrable “moat.” Low price = less confidence in the network effect and vice versa. I happen to believe the network of bitcoin will be exponentially larger in 2025 than it was in 2015. If I’m right, the price will also be exponentially higher. Price fluctuations between now and then are interesting, but trading them does only one thing…dramatically increases the odds of ruining my plan. The benefits simply don’t outweigh the costs unless I believe I can outsmart the crowd and the bots, which of course I have zero basis to have that belief. I’m not against people trading because they help create a vibrant and liquid market. People trade for all kinds of reasons. Speculators trade for a chance at excess returns (alpha) even if the odds are against them, but if they want to give it a shot, go for it. It might work. If it does, great. They beat the game rigged against them.


#4765

Probably coz cryptos was more fun when it was going up and it was more addicting to check it, nowadays it is more depressing (if you look at it from the perspective of hodling, its great for people (like myself) that are on the sideline waiting to see it drop more).

Most people probably just decided to focus on their life a bit more, most of them prolly will be back when it goes up again .


#4766

I agree lkadsjf lksadfj lksdjf


#4767

you lost me at “teen” haha alksdjf lkadsjf


#4768

hey guys, I :heart: u all.

:handshake:


#4769

Oh yeah, I remember spending nearly all my free time following crypto and checking my portfolio. It was just plain fun during the bull run.

After February it got pretty bleak and I definitely stopped checking anything crypto related. Now I have become more interested in it again and more active in reading up on news.

This time the super low prices are getting me excited about amazing deals. I can now own far more NEO and ICX than I thought was possible.

I unfortunately have been HODLing and have blood spilled myself. That doesn’t make me scared, it makes me see deals.

Remember, the time to buy is when there’s blood in the streets. Even when it’s your own.


#4770

Bitcoin obituary memes = Ultimate buy indicator (fear)

Lambo / private island purchase memes = Ultimate sell indicator (greed)


#4771

Sounds reasonable, but I think we will see:

$3150.02 < 2862.33 < 4153.52 < 3150.02


#4772

#4773

I’ve started to DCA again. I needed a break from it all, to focus on some other prosperity generation projects, which are starting to bear fruit. Feels good to be turning my attention, carefully, to crypto, returning to my earlier state of curiosity, and remembering some of the basics that I’d lost sight of early this year when I caught a dose of the FOMOs (Thankfully a mild dose - no great damage done but a sobering reminder of how fear and greed can creep in the car boot of the soul and start to take over the wheel!) It’s good to be back in the pub.


#4774

I have now sold all BTC and have migrated my arse to XRP, theres a storm brewing and BTC isn’t going to end well. ALTS are almost at there all time lows whilst BTC has a shit ton of room to fall the flush is coming :beers: and the banks and corporations are moving in. ETF’s will not help BTC now


#4775

I have also considered the possibility that bitcoin isn’t in a bear market. It could be in complete collapse.


#4776

untill BTC has a lower price of $1,175 which was the 2013 rally ATH there is nothing to worry :slightly_smiling_face:

Though I have a strange feeling in my gut since :arthur: posted this tweet …

image

:arthur::tent::beetconnect:


#4777

I wont be there to see buddy :raised_hands:t2:


#4778

I’m with ya on collecting some cheap xrp but can’t sell all my bitcoin. Regardless if how we feel in the pub the sentiment around xrp grows better and better each day. I don’t care that I don’t like the project I just want to make a buck.


#4779

The anger stage of this market cycle is going to be one written about in the investing and trading books for years to come.


#4780

I’m over this whole market capitulation meme.

Not sure if anyone noticed, but the Pub has less than 10 people online some days. All that remains is us diehards who have the conviction to keep investing as prices continue to drop. If we step outside the echo chamber that is the Pub, you can clearly see that capitulation set in long ago.

It’s clear to me that we’re now in the polar opposite stage of the bull market. When BTC rose above $12k without a correction, the herd mentality took over, people became greedy and irrational, as everyone was investing recklessly while calling for higher prices.

The same story is taking place right now.

Once again, people are being irrational. For nearly a year, most people believed the floor was $6k. Now that broke, and suddenly everyone and their dog is calling for $1-2k. This is the herd mentality all over again. Same irrational thought process, same greed. Just in reverse.

All this tells me is that the bottom is near. Doesn’t mean a bull market is coming, or that we won’t see lower prices. However all these people waiting for $1k BTC are likely going to get burnt just as bad as those who called for $20k or higher.