Economy Bitcoin/Crypto is imploding

[Motivated BJ Penn]

Its not looking good, we have closed below some key levels on the weekly chart.

I expect it to go to 84k and even 74k before we can get a relief rally into a lower high to confirm the bear market.

 

[Motivated BJ Penn]

Retail is panicking, while big dogs are buying

Trump already scared off all the retail with his pump & dumps.

There was no euphoria this cycle which is weird

 

[THEfightsAREfixed]

Once it goes down to 90k it’s just a hop skip and a jump to fucking zero you stupid nerds you guys got scammed

 

[Jacket time]

that's not happening

 

[Jacket time]

There was no euphoria this cycle which is weird

true, I am numb either way

 

[heloder]

Now do the US dollar

I can't believe this thing that has no actual value, but is backed by the most stable democracy in the world*, and used by billions of people worldwide, has shown gradual, but fairly predictable decline, over the last century.

*Until MAGA retards.

 

[Rygu]

You must be new to crypto if you think Bitcoin is imploding.

Zoom out.

 

[N13]

Take a look at YETH and YBTC: Massive dividends.

Roundtree cover call strategy funds. The first pays a 63% annual divided paid weekly. The second pays 44.5%.

You can't beat that with a stick. Why are the returns so high? They depend on volatility.

 

[chardog]

Once it goes down to 90k it’s just a hop skip and a jump to fucking zero you stupid nerds you guys got scammed

I heard this when it was 55K…..

I heard the same thing with TSLA @220 months ago…

 

[Andy Capp]

Bitcoin down 30% in 6 weeks, while Etherium down 40% over the same period. ALT/Meme coins are at 2022 lows.

Is this the start of a crypto-winter or just short term volatility as it continues to grind higher?

I have alot of crypto exposure due to some ETFs that I hold (down about 25K since October), but my plan is to hold and see how the next couple of weeks unfold. If bitcoin breaches $80K, I am out.

Honestly who knows with this shit.

@Rob Battisti

Batt-er up.

 

[Kassitus]

I'll have to buy some tonight.

 

[AWilder]

This is what stores of value do, right Rob?

 

[Rob Battisti]

@Rob Battisti

Batt-er up.

I predicted a 125k at the start. I think we crawl sideways for another 3-6 months and then we’re back up.

 

[DoctorTaco]

@Rob Battisti tell us when we should pull the trigger and buy either one plz

 

[HOLA]

It's at $91,398 right now, which leaves it exactly $91,398 over its intrinsic value.

 

[N13]

I predicted a 125k at the start. I think we crawl sideways for another 3-6 months and then we’re back up.

After people get their tax rebate checks, there will be a lot of liquidity.

The IRS is still taking citizens money at 2024 rates for withholding. But this year there is no tax on tips, overtime and social security.

Big refund checks will start hitting the market early in January.

 

[WhiteMousse]

Why would you not buy BTC now?

 

[N13]

After people get their tax rebate checks, there will be a lot of liquidity.

The IRS is still taking citizens money at 2024 rates for withholding. But this year there is no tax on tips, overtime and social security.

Big refund checks will start hitting the market early in January.

The other factor is the spot ETFs. This gives people access to crypto through their brokerage accounts.

No crypto platform necessary.

 

[Gas121]

After people get their tax rebate checks, there will be a lot of liquidity.

The IRS is still taking citizens money at 2024 rates for withholding. But this year there is no tax on tips, overtime and social security.

Big refund checks will start hitting the market early in January.

My thesis is this dump could be a switcheroo by whales dumping BTC to pile into AI stocks. Investors are hungry for anything tech related this year.

Who knows when sentiment reverses again.

 

[Jacket time]

I'll have to buy some tonight.

I'm on the fence of buying an eth token for my son (10yrs)