You guys better hope this follows through to 150k at least or I'll see you at 47k in about 3-6 months lol.
You're reading something that is not there. As I said, it was a recap. But I never base a trade yea or nay on what the news media has to say, so no need for other sources. Thanks anyway.
Samson Mow is also saying that Bitcoin can easily go to 1 million in a short amount of time. Yes its highly unlikely, but not impossible. The thing though is that this tail risk, or rather tail reward in this case, is technically very possible with bitcoin over something like GME stock. The fact that buying can't be turned off is a major factor. If John is correct about lots of whale selling into this climb to 100k, they won't have any ammunition for the move above 100k. If retail sells their coins, but nation states are willing to buy it all up, imagine what that buying will do! MSFT is supposed to have the vote sometime in the new year I think. Imagine them putting just 1% of cash into bitcoin, and then multiply this by all the other huge companies. I of course hated seeing MSTR being able to buy 30k or 40k coins without price moving much, but if this clears out all the weak hands, where is the supply going to come from when Trump wants to buy 1 million? Or when more US states announce Bitcoin strategic reserves... not just the federal government? Dennis Porter and Samson Mov are always giving hints about the things they are working on behind the scenes. They could be aware of very large buyers. At the same time though, I do also follow Checkmate, and he is excellent with his on-chain analysis, and I think it makes sense that the top will be very obvious in the flows, so listening to him does keep me grounded. But, if we have a 100k daily candle at some point, will we have enough selling into this candle to meet demand, or does this inspire even more demand on the next day? We aren't buying GME stock after all which has a finite price it can reach and has to at some point make financial sense. Bitcoin market cap makes financial sense at a price where all real estate speculators have moved to bitcoin, where it has far surpassed gold, where the US debt market is dead. If the US does truly accumulate 1 million coins, representing a very large percentage of all that is available, the US debt no longer matters because it can all be repriced to a manageable level against the bitcoin holdings. This is all just a race to get a piece of the pie. We all think that at 100k or 200k or 250k, we enter another bear market, so we better sell. But I think there is a good chance that instead of a bear market, we start a cycle where the price can't drop too low because any 20% correction is heavily bought up by all these nation states who are eager to be relevant in 5 to 10 years time. Imagine you selling after a 15% or 20% correction, hoping to buy back in at -70%, and in only days, we go right back to all time highs. What do you do? You buy the all time high, just like everyone else, and then there is no looking back.
It can go to multi millions as it gradually devalues everything else. This was a concept I didnt quite get till recently. Once your mind opens to that,there doesnt seem to be a ceiling. It would change the world in such a way(as you and John have alluded to in the past)that the traditional nest egg of real estate is now valued closer to its utility rate as its store of value cant compete.One continues to inch up and one continues to inch down.
I think that even without bitcoin, RE has to correct. I've seen podcasts that talk about RE and shows charts going back 150 years. Its always reverts to the mean. The only way it wouldn't is because its priced in fiat, so if fiat implodes, it makes sense that it would never go down. The other issue with RE is that insurance is getting very expensive and even hard to get. Property taxes are also insane in some places. Some people suggest that because of these things, you don't really own RE if you're still paying every month. After years of financial study, I have no idea if we are going into a deflationary bust or an inflationary boom, but either way, none of these outcomes are good, but one is guaranteed. We will not get a quiet decade of decent and steady growth where people just sit back and enjoy life.
The $100k is impenetrable despite limitless Tether printing. I can feel the rug pull around the corner, i can feel it in my balls.
Surprise surprise, since they haven't minted much Tethers since the 23rd, the price also hasn't pumped higher. A TOTAL COINCIDENCE, I AM SURE!
You're absolutely right. But the thing is, all this has to go through the system and get approved first. And this might take some time. Because as soon as Trump takes the seat in the office all of this is just not going to happen overnight. But how long will it take? Will it happen before or after the bull run? And there is the chance it may not even happen at all, but with this crypto friendly team in the office it more than likely will. And even the United Emerites or whatever it's called, are looking to purchase Bitcoin with their soverign wealth funds which will be billions and billions of dollars which will be beautiful. But when? See i'm thinking the shorter term which will be within the next year. And my strategy is to cash out before this run is over, and I will probably buy again when I feel we have reached another bottom. Long term swing trading to me is the best strategy for Bitcoin. You might be thinking of super long term holding, like holding for years possibly decades, which is great. We probably will break 100K but we also will probably retest 100K in the future. The market will definitely change in the next few years with even bigger players manipulating the smaller players at the table and who knows how that's going to go?
OMG NONE of you is right! This whole thread is a bunch of punters being WRONG! I'm going to start my own Bitcoin price thread where the requirement is you must own a Lamborghini or equivalent to be able to even talk about Bitcoin. @Noah @semperfrosty @Tokenz @johnarb