Social War Room Lounge 318: Propaganda Extravaganza

[Mr Holmes]

I think it will dip below 35k for sure. Before the halving I think it will climb to about 40k then drip below 35k again. The one thing I have been saying is to sell before the drips then buy back into make money. If you had multiple bitcoins selling at that 46k mark would have netted you pretty good profit to buy back in.

Seems like a lot of risk especially when nearly half of those profits are going to go to Uncle Sam.

 

[LMP]

Based on what?

It's all speculation. The same type of speculation that said ETFs would send bitcoin to the moon. The idea that the spike would continue when ETFs open, yet we are looking at a near 20% loss since the start of the year. I think the halving won't have the dramatic effect that many people believe. It should spike on the lead up in anticipation and drop after it actually happens imo.

 

[Rob Battisti]

It's all speculation. The same type of speculation that said ETFs would send bitcoin to the moon. The idea that the spike would continue when ETFs open, yet we are looking at a near 20% loss since the start of the year. I think the halving won't have the dramatic effect that many people believe. It should spike on the lead up in anticipation and drop after it actually happens imo.

do you understand why it’s dipping right now? Technically?
Do you understand what the halving is? And what has happened at every halving

 

[LangfordBarrow]

Right here. There was a chance of hitting 38k before the run up. I will be the first to admit that I did not believe we would retract lower than 44k. 38k was the next level of resistance though so likely we hold here.

I’m still a buyer and this does nothing to shake my confidence in 125-150k BTC this cycle.

Well you better throw a WR pizza party when you finally cash in...

 

[LMP]

Seems like a lot of risk especially when nearly half of those profits are going to go to Uncle Sam.

Or you can hold hoping that it doesn't have a massive collapse.

do you understand why it’s dipping right now? Technically?

Wallets with large amount of bitcoin realize that the ETF allows them to sell larger volumes with out a complete collapse in the market. The holders expect that there will be a point that the ETF will have to buy at a higher price than it is this would drive up the market cost. This requires that ETF interest will be super high. However if ETF demands are not as high anticipated the price will continue to fall.

 

[Rob Battisti]

Well you better throw a WR pizza party when you finally cash in...

100%

My estimate in early 2023 was that we would be 42k in April 2024. I was surprised to have run up faster than anticipated.

 

[Rob Battisti]

Or you can hold hoping that it doesn't have a massive collapse.

Wallets with large amount of bitcoin realize that the ETF allows them to sell larger volumes with out a complete collapse in the market. The holders expect that there will be a point that the ETF will have to buy at a higher price than it is this would drive up the market cost. This requires that ETF interest will be super high. However if ETF demands are not as high anticipated the price will continue to fall.

You do realize that even if every single new bitcoin mined in the future were to be bought through ETFs it would still be a small % of the total bitcoin held?

 

[Rob Battisti]

Also Bitcoin has been declared dead literally dozens of times in the last 14 years. Somehow it still goes up.

 

[LMP]

You do realize that even if every single new bitcoin mined in the future were to be bought through ETFs it would still be a small % of the total bitcoin held?

You asked if I realized what was happening.

 

[LMP]

New thread time