The Bitcoin (BTC) thread

Australia Sucks

Kingfisher
Other Christian
This bear market rally in Bitcoin is insane! Bitcoin is going parabolic. I feel like its going to crash to a fresh low within the next few weeks. I do not feel like there was enough capitulation in the mid June low for it to be the final bear market bottom.
 

bucky

Hummingbird
Other Christian
This bear market rally in Bitcoin is insane! Bitcoin is going parabolic. I feel like its going to crash to a fresh low within the next few weeks. I do not feel like there was enough capitulation in the mid June low for it to be the final bear market bottom.
Man I wish there were some way to know if you're right. I'm a bit short out on cash at the moment and even though I'd be making paper losses real losses, it is tempting to cash out my BTC. Guess I'll hodl instead though.
 

COtrailrider

Robin
Gnostic or New Age
This bear market rally in Bitcoin is insane! Bitcoin is going parabolic. I feel like its going to crash to a fresh low within the next few weeks. I do not feel like there was enough capitulation in the mid June low for it to be the final bear market bottom.
I think there are too many global variables at play now to have any indication of lows and highs. Nobody really knows. Gareth Soloway has been fairly close but even he warns that he doesn't really know - as a day/swing trader he's using charts to analyze trends.

I picked some more up yesterday but it's the DCA-life for me. I have some price signals to buy lump sum values but otherwise it's slow and steady. If one believes in the tech and capabilities long-term I think this is the best strategy because the swings will continue to be volatile and relatively unexpected.

It'll be interesting to see if interest rates really start rising over the next few quarters and what happens to the price though, because the massive inflows of cash into the economy seemed to generally track with the market caps/prices of many cryptos.
 

Blade Runner

Hummingbird
Orthodox
This bear market rally in Bitcoin is insane! Bitcoin is going parabolic. I feel like its going to crash to a fresh low within the next few weeks. I do not feel like there was enough capitulation in the mid June low for it to be the final bear market bottom.
I actually agree with this, but mostly because I think S&P drops another 30-ish %
 
Man I wish there were some way to know if you're right. I'm a bit short out on cash at the moment and even though I'd be making paper losses real losses, it is tempting to cash out my BTC. Guess I'll hodl instead though.
It's just ridiculously hard to time the market. When they say never invest more than what you can afford to lose in bitcoin, they really mean it. Ironically I'm far more optimistic about the success of bitcoin now long term than when it was at 65k, because it's getting far more stable and un-leveraged day by day.

Just think, mere months ago if news had come out that TESLA had sold 75% of its coins, price would have probably dropped as much as the massive spike when they announced they first bought. The news now barely made a dent. That to me is a very good sign of resiliency. It would not surprise me at all if we have hit the lows. But if we do drop significantly from here, I'm absolutely going to plus up my DCA as much as I can.
 

Blade Runner

Hummingbird
Orthodox
It's just ridiculously hard to time the market. When they say never invest more than what you can afford to lose in bitcoin, they really mean it. Ironically I'm far more optimistic about the success of bitcoin now long term than when it was at 65k, because it's getting far more stable and un-leveraged day by day.

Just think, mere months ago if news had come out that TESLA had sold 75% of its coins, price would have probably dropped as much as the massive spike when they announced they first bought. The news now barely made a dent. That to me is a very good sign of resiliency. It would not surprise me at all if we have hit the lows. But if we do drop significantly from here, I'm absolutely going to plus up my DCA as much as I can.
The one good thing that I am 99% sure about as well is that either this is the low (low 20s), or we move to the mid to low teens (I see 13k as lowest), which I am near certain will be the last "low." That's a pretty good window to be sure about. Act accordingly, with what you can afford to, if you share my conviction.
 

chance vought

Woodpecker
Protestant
Has anyone been following the progress of FediMints? TLDR:

-Obi says its the 3rd pillar of Bitcoin (Bitcoin Core + Lightning + FediMints)
-Security is better than exchanges (almost as good as self-custody).
-Much easier to use than self custody for the masses.
-Complete anonymity and privacy of transactions (100% privacy as Chaumian e-cash...better privacy than Monero, which is probability based.)
-More efficient, lower cost, and more profitable Lightning node routing -- instead of opening channels to dozens of Lightning nodes, most of which have less than 1 BTC in liquidity, with channels of small size, connecting to FediMints that have more BTC, bigger channels, and more transactions makes routing cheaper and easier.

Matt Odell has been talking FediMints non-stop as well.

 
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