I'm not saying it's a bad idea. I'm saying stop praising them for copying what retail's been doing for a decade. Do you remember the s*** hdlrs went through with banks, hedge funds and government all trying to stifle Bitcoin adoption? Bitcoin fans were like the snowboarders of the '90s...pariahs that weren't allowed to take the chairlifts...fast forward to 2010 and you got a snowboarder jumping through a ring of fire to open up the Olympics. At this point there is no difference to owning BTC or a Bitcoin spot ETF as they track dollar for dollar. Both will bolster bitcoin's price because ETFs have to match the inflow with physical Bitcoin. I would prefer to have it in an ETF because it's more liquid and I can write off tax losses a lot easier... And collect dividends on some other Bitcoin ETFs. Anyway, Bitcoin knowledge should be measured in Lamborghinis... That's it. Not b******* metrics from b******* talking heads.
Well if that's the case they'll be coming after your coin anyway...but why would they? Wasn't the reason order 6102 because the federal reserve needed gold as backing to release money to jumpstart the economy after the depression? If they really wanted to stifle Bitcoin hoarding then they could just implement an unrealized gains tax on all crypto. This would force people to sell coins to pay the tax. https://www.cnbc.com/2024/09/05/harris-economic-plan-tax-unrealized-gains.html
You're conflating stuff. the bitcoin spot etf's and the corporations and pension funds and insurance and banks buying bitcoin are bringing massive liquidity to bitcoin, the asset. stop for a minute and absorb that If you remember in 2014-2017, there were inefficiencies among prices between worldwide exchanges, arbitrage trades, kimchi premium,, which is how Tether was started And $10M sell order could move the price significantly, there were flash crashes on exchanges that had thin order books, i.e. Poloniex, even Coinbase at times The year is 2024, Operation chokepoint is still happening now, crypto companies are becoming unbanked and having to move to friendly jurisdiction, google Nic Carter recent article on the subject, but this is to say that is completely separate from the etf's and corporation bitcoin adoption
Sorry but this is just utter nonsense to me. The chart cannot tell you anything about the future. It can only suggest based on the buying patterns up to the most current transaction. Whether it continues or not is unknown. As for big money being way ahead of it, I doubt this very much. Big money will be when Microsoft buys some, and then watch all the other tech companies do the same. How many do you think will be able to buy 40k BTC like Tesla has? Where will it come from?
Where did El Salvador get the bitcoin? "The government of El Salvador purchased ₿400, worth about $20.9 million at the time, on September 6 2021." One would think that a 400B purchase by a country would move the needle up right? Wrong. The El Salvador purchase just formed into the ii wave cycle of the (4)-->(5). Later you can see the ftx scandal coming just in time to facilitate the last drop down to 14k making it an 80% retrace right? Wrong...price was extending on the C leg anyway. Every rally or dump is accompanied by news trying to attach credit or blame to it...like a play by play lol...when in reality the chart is just running through its cycles.
That's a good question. Where is it coming from now? With all the inflows to ETFs, where is that supply coming from? I was under the impression that with block chain you can tell who is trading BTC and how much. Is the trading that is happening now, just exchange market makers churning existing supply or is the so called smart money distributing to the retail buyers prior to the next crypto winter?
Paul Tudor Jones who is still long on Bitcoin... stated on CNBC he was refusing to own fixed income and was preparing for America's Minsky Moment...