Bitcoin just blasted through a couple of tough resistance areas, 1 or 2 of them, took like 20 tries before blasting over ( ex 66,065 ). There are 2 crucial marks left before we revisit the new ATH's ( 67,457 / 69,709 ), at least there are big gaps where BTC investors/traders can accumulate/or lighten up to suit your portfolio.
Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
It's projected that Grayscale will run out of inventory in about 3 months from now at the pace they want to sell Bitcoin. Why not sell it on up days ? Why not cross a major block to a huge buyer OTC style ? ( unless they need to disclose every sale on a major exchange to the holders). Since the approval of spot BTC ETF's I've never experienced so many whip saw days in my Coinbase account. I have to keep a bottle of Pepto on my desk so I can take a swig every other day ! UGH !
wow, bitcoin is surging... will 68/69,000 slow it down. If it can break through, then we have a new high coming.
lol, bro, stop getting excited; i said, nothing to be excited about unless we close the weekly (sunday 8 pm est) above 69k.
I kinda like that he's excited about it. I mean this world has gone full blown crazy more so now, he's having fun, more power to him. I genuinely hope he gets stupid rich, more power to him. lol
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Unreal story. I sold $200,000 of IBIT JUST before the pump to buy Carnival, since Carnival earnings in two days. RIGHT after I sold, Carnival fell, and IBIT started to pump. I panicked and immediately sold Carnival to buy back IBIT.
In a span of minutes, I lost $6,000, from the Carnival drop to missing on on the pump.
In a span of minutes, I lost $6,000, from the Carnival drop to missing on on the pump.
I'm not day trading but on my Trading View screen it flashed a false SELL signal at 9:15am, and at 9:35am it flashed a real BUY signal and took off since then.
I'm sure you are holding a long term bag of IBIT/or BTC which will cover the 6k mistake . . ...
Buying back IBIT after it started to pump was very difficult, but I'm glad I made the choice. I'm very stubborn, so I was going to just hold Carnival. I'd be dying right now.
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ALGO traders/Bears guarding that $ 70k mark like a hockey goalie ! On Bybit it bounced off $ 69,900 and on Coinbase it bounced off $ 69,800. Most people will call it just plain old profit taking. I'm sure the Bulls will take a breather and try to blast thru $ 70k today. I can't believe all the Joe Daytraders who get whipsawed and liquidated on both sides of the market just from emotion trading.
It's just a matter of time before we crack 70k, and then we'll see what happens next.
Just curious, will you switch into something else or just stay on the sidelines ? What main metric will you use as your strategy selling point ? 2x or 3x your capital ? Bitcoin dominance waning ?
I will go bythe historical pattern. Exactly one year after the halving, in all three previous cycles, Bitcoin reached a new high. From then, after six months, in two of the cycles Bitcoin went down or stayed roughly the same, with lots of volatility. In one cycle, it went up. After the one year mark, the risk/reward isn't there anymore. Tremendous volatility and not much to gain, with massive drops.Just curious, will you switch into something else or just stay on the sidelines ? What main metric will you use as your strategy selling point ? 2x or 3x your capital ? Bitcoin dominance waning ?
It's impossible to tell when Bitcoin will peak and what the final price is. However, after doubling from here, the returns you get become more diminished for the risk. For example, even if Bitcoin were to go from $140,000 to $200,000, it would be less than a 50% gain. But the risk is tremendous that you will be left holding the bag, as the drops can be sudden, steep, and final.
It's far better to wait until one year after Bitcoin peaks (one year from November 2025). That will be when Bitcoin will near the botttom. If you can buy Bitcoin at say $70,000 at that point, then there is much less risk that you will lose anything in the next few years, and you can easily 2-3x your money until the next halving. And from then, you can double to triple your money. So you can probably 6-10X your money if buy at the bottom and sell three years later at the next bull run, with far less risk.
I will take my winnings and invest in several stocks and ETFS (SPX, QQQ, BRK.B, Paypal, Netflix, etc.)
When Bitcoin bottoms in winter 2026, I will buy bitcoin by dollar cost averaging.
If we do hit $140,000 way before the one year mark after the halving, I'll probably keep 20% of my funds in bitcoin to let it ride out.
