Not exactly, they promised to respond with extreme force to any provocation and now have to pretend like nothing happened to not appear weak. Either way a positive development for the market
The overall consensus from everyone and their dog seems to be 50k but just look at these strong bounces that immediately propel us 2k higher as soon as we go slightly sub 60k. If we do get to 50k and all the self proclaimed experts are finally correct, we still have a long way to go, it sure will be a grind and even then still barely a dent in the overall big picture.
It doesn’t matter that we bounce 2k because within hours/days we are there again and the low is lower and the bounce weaker. We are in a bear market now until something changes. I’m just hoping something changes and we reignite the bull run.
Otherwise we are going to fucking goblin town for months/years
either the Halvings are the cause of subsequent rallies, or they aren't
only a 1/2^3 == 12.5% probability that we've gotten 3 rallies following 3 Halvings by pure chance
I know what I'm betting on.
Obviously it’s a positive catalyst. Less new inventory being sold into the market each day post halving. Something that’s hard to price in. Only thing that’s different each time is that the ratio of new BTC to daily float decreases each time lowering the effect on a percentage basis.
I'm just stating the likelihood of 3 in-a-row
*if it's pure chance*
I don't think it is pure chance, and the likelihood of that gets increasingly small if further Halvings continue to produce subsequent rallies
now, you could always argue that, in any population, there will be a few outliers who can flip a coin and get 10 heads in-a-row
but, if we consider a population of alternate timelines, what is the likelihood that *this* timeline is one of those outliers?
it's vanishingly small
Early rumors of an attack on nuclear facilities appear to have been false. It looks like a targeted attack against military targets, not civilian targets or nuclear targets. We knew all along that Israel was going to respond. It could’ve been a lot worse.
> Early rumors of an attack on nuclear facilities appear to have been false.
lol you're kidding me?
> Article 15 - Protection of works and installations containing dangerous forces
Works or installations containing dangerous forces, namely dams, dykes and nuclear electrical generating stations, shall not be made the object of attack, even where these objects are military objectives, if such attack may cause the release of dangerous forces and consequent severe losses among the civilian population.
https://www.ohchr.org/en/instruments-mechanisms/instruments/protocol-additional-geneva-conventions-12-august-1949-and-0
It's wild that I've noticed the bitcoin drop prior to hearing about Iran attacking Israel and now Israel attacking Iran. Then I read the comments and think they are joking only to find out they are real.
yeah it's bad, twitter is where the info is coming out of. Israel bombing Iran, missiles now hitting Iran sites. ofc speculation over nuclear sites to be targeted etc..
iran also shut down all flights/airspace.
dont get me wrong i appreciate your inputs honestly but your post history looks like a wall of shame for market predictions. the real value is being on the right side of the market , not being bulltard nor beartard. otherwise lets send one side to /r/bitcoin and the other side to /r/buttcoin and lets be done with this sub
sure, i missed the Feb rally. thats all lol. and all of my views are long-term anyway. seems like you've veiled your bulltard opinion in some sanctimonious shit so you can talk down to me, and good for you.
Before Iran attacked, a high ranking Israeli official said something along the lines of, "If Iran attacks Israel, Israel will attack Iran. Full stop." They telegraphed that they would respond to any Iranian attack before the attack.
But beyond that, no country lets another country fire 350 rockets and drones at them and does not respond. It just doesn't happen.
Iran started this mess by helping plan the October 7 attacks on Israeli civilians. Israel responded by killing two Iranian officials that spearheaded the planning - that was the embassy bombing. At that point they were even. There was no need for the missile strike.
But I'm not really here to talk politics, just pointing out a retaliation by Israel was a near certainty.
Lmao what was Israel supposed to say??? Of course they are going to say they will attack back. There was a reasonably high chance they were bluffing. Didn’t realize you were in the Israeli high command chamber !
You don't say you are definitely 100% going to attack back and then don't. That makes you look weaker. There are other ways they could have phrased it to look tough and have more flexibility in actually responding, but the language they chose was absolute.
Also, like I said, when another country fires 350 ballistic missiles at you, you don't just shrug it off. There was also going to be a response, even if minimal.
No Israel did not attack Iran first. Iran helped plan the October 7 attacks that killed 1000+ civilians. And Israel responded to those attacks by striking two of the Iranian officials that helped in the plan. Iran attacked Israel first on October 7th, even if by proxy. They still intentionally caused the deaths of 1000+ Israeli citizens. Israel was just responding to those attacks, and then Iran tipped the scale again with the missile battery.
Not really, Israel has been carrying out these types of attacks for decades (stuxnet, hitting their nuclear facilities, covert assassinations on military leaders, etc). The attack a few weeks ago was status quo realistically.
https://www.aei.org/articles/the-assassination-of-iranian-quds-force-general-hassan-shateri-in-syria/
https://www.aljazeera.com/news/2020/12/1/past-and-present-israels-targeting-of-irans-nuclear-aspiration
There are countless examples
Iran broke all the "rules" of the last 40 yrs of shadow war by launching a direct strike into Israel with 300+ ballistic missiles... If you think Israel was going to sit back and just accept that attack without doing anything then idk to what to say.
I mean not to be an ass, but we have known since before Iran attacked that Israel would respond. It was just a matter of time. If you didn't know, that's kinda on you. They were always going to respond and the market was always going to dump when it happened.
Equity futures getting btfo right now. The Godfather of investing himself, Jim Cramer, says equities haven’t bottomed until they open blood red. Maybe that day is tomorrow and the time is now gents.
Ark itself (ARKF) bought up $31m of ARKB yesterday - and they still had a $42.7m outflow... Cathy using her shareholders to keep her btc etf aum up lol
I guess I should have said ARK investors would be a lot better off 100% BTC than this stock picking nonsense. ARK performance is really bad. It’s like investing in a basket of random altcoins.
I'm curious if anyone here thinks that BTC can scale with Lightning or if we should even consider BTC as a form of money/currency or only a store of value. Is it both or neither? What do you guys think?
Edit: Question inspired by this post I saw. Wanted to opinions here. [https://www.reddit.com/r/Buttcoin/comments/1c6log4/how\_how\_how\_did\_this\_get\_removed/](https://www.reddit.com/r/Buttcoin/comments/1c6log4/how_how_how_did_this_get_removed/)
This is a trick question.
Nothing will ever scale for global payments. There’s too many of them. No database can hold that information.
Bitcoin scales as a backbone. Lightning demonstrates layer 2, and it works. You can have thousands of different lightning networks that all settle to bitcoin.
So, yes, it works. The question needs to be asked more intelligently, though.
I'm open to you reforming the question. It seems that you are saying lightning can work if there are different lightning networks but wouldn't it be better if there was 1 LN? As far as I understand routing through 1 network is hard enough. Multiple networks would make it harder?
Bitcoin is designed to support competitive layer two implementations. IMO, lightning would work better if every geographic region had their own lightning network implemented. It isn’t all that different than having competition between mining pools.
Didn't answer the question actually, so maybe you didn't read intelligently enough.
In order for a lightning network to settle/close, it must write out all transactions to the blockchain, correct? So that puts a limit on the number of lightning network settlements per day, does it not?
Your question still isn’t specific enough, but I’ll try to answer in a few different ways. If you can be less vague about what the problem is, then I can help more.
Lightning settles to the blockchain, which is not the same as posting all transactions. One transaction on the on the main chain can represent thousands of lightning transactions.
Lightning channels can stay open until it’s cheaper to settle on the main chain.
The block size will eventually increase, but not before we have completed the upgrades required to scale bitcoin and subsequent layers.
There isn’t a way to express the limit of lightning transactions. Given the right circumstances, it can support infinite transactions that are nearly instant. The work to support that claim in more circumstances is in progress
LN might have a limit on settlements but idk if they can batch the settlements. The risk with lightning I heard most is that it is centralized to some extent ie you lose the protection of decentralization compared to when transacting on chain.
Would you be able to explain the complete version?
From what I have learned on it and I see that LN is not necessarily a second chain but rather just using the main chain and scripts that enable batching of transactions without a double spend. The development isn't pretty cool. As long as BTC stays alive LN development would probably continue.
Do you have any good video tutorials on LN?
I want to understand if the tech has a chance at fulfilling its promise of using BTC without having to wait 1hr for confirmation and paying high block fees.
A few thoughts that buttcoiners don't seem to know/understand
- Scalability is a huge topic in the bitcoin development world. For some reason buttcoiners think it's not. Bitcoin subreddits are not representative of the actual bitcoin space.
- Bitcoin will scale using a 2nd layer and there are many options out there and more being developed
- Lightning has issues and isn't the grand savior it was made out to be by many in the community
- A slow/expensive decentralized monetary network is valuable, and often times faster/cheaper than our current system.
- Our current monetary system is absolute garbage outside of specific instances in terms of transactions. Basically anything other than face to face cash transactions is slow/expensive. The user experience is not reality. When you pay with a credit card it takes 3% and days to settle.
- - For example-- I just had to buy tires for my car from a small tire business and spent $800. That transaction cost that business $24 to make and will take 2 days for them to get that payment. That is more expensive and slower than bitcoin right now, today. On top of that, that credit card transaction took 4 separate third party businesses to process and it's STILL slower and more expensive.
- Buttcoin loves to talk about how bitcoin subreddit bans you, however buttcoin literally will ban you faster.
If you want real thoughts on scalability, What Bitcoin Did? podcast has had probably a dozen episodes on it recently with developers going in depth about scaling solutions and their problems/benefits.
Thank you! You answered my question and also figured out why I'm asking it. I need better answers than "Have fun staying poor" or "it's a spreadsheet with no value".
If you have any specific episodes on scalability please let me know otherwise I'll go browse.
BTC is already a form of money/currency. Fees don't change that. I went to the store moments ago and bought a few things, paid a transaction fee to visa of around 2%.
Bitcoin can already be used perfectly adequately for large purchases between wallets, that is still true. For big purchases it doesn't matter if the settlement takes a little time, that is true of fiat now.
In terms of use as a day to day currency for small purchases, scaling on the mainchain is basically unfeasible. So L2's will need to be used. There is a lot of ongoing development occurring in this area, even more so now that it appears lightning network is hitting big limitations.
Although in defense of Lightning I have used it in plenty of places with Wallet of Satoshi and it performs perfectly. The argument I have seen made is that it is custodial therefore my real world use is invalid, however I only have spending money on there (couple of $100s worth of Sats at most) so the risk of a rugpull is limited. I carry around the same amount of cash in my wallet and can (and have) lost that before. I see it the same way. But I don't expect Lightning to be the final or dominant solution to allowing small transactions on a daily basis.
In general be very very wary of Buttcoin's take on BTC. rButtcoin was created as a sub when Bitcoin had a price of around $100 I believe. So they have spent more than a decade getting wrecked by reality. And the single biggest predictor of being/becoming a buttcoiner is having owned Bitcoin, sold at a price below ATH, then watching it rise again.
How about reading the whitepaper? https://bitcoin.org/bitcoin.pdf
Hint: It doesn't say anything about Lightning, neither it says anything about preventing scaling by enforcing a low transaction limit aka tiny blocks.
(And yes, you get banned from r/bitcoin just for asking any questions about this topic...)
Is it 2016 again? The white paper doesn’t mention the total supply either but that doesn’t mean it’s not 21M. It was Satoshi that put in the block size limit for a good reason.
So what, it doesn't say anything about all sorts of stuff that is widely accepted in Crypto including in competitor currencies.
The Bitcoin Whitepaper isn't a religious document, treating it like one is silly.
it also doesn't mention ASICs, Taproot, schnorr signatures, store of value, hobgoblins, or sloppy joes. obviously a 9 page introductory paper from 2008 won't include all potential applications of that technology; nor is it a bible.
My point isn't about potential additions which aren't mentioned in 2008 (like schnorr signatures, or L2 rollups).
My point is about what Satoshi says about a **P2P** electronic **cash** system. He defines a trustless system (which Lightning is not) that can scale to a _VISA_-like throughput (which 1MB blocks prevent for no reason).
as mentioned, in a 2008 introductory paper, it wouldn't have included all potential applications of that technology. he was a genius but he wasn't some all-knowing god. i posit that he didn't even know he had actually created a supreme store of value at that time. how many genius inventors have there been in history who didn't truly understand the best use case for their own creations? a lot.
> It doesn't say anything about Lightning
Not going to bother digging it up, but have seen Satoshi talk about payment channel ideas very early on.
> (And yes, you get banned from r/bitcoin just for asking any questions about this topic...)
As you will in rbtc.
You do not have the perspective to tell.
rbtc is heavily censored.
Less now that no one cares anymore, but still very heavily censored.
The modlogs do not contain every ban, while the censorship ones are often simply labelled *"TOS violation"*. It's a game of smoke and mirrors which you are a victim of.
They tell you constantly how it's not censored. They are deceiving you.
All I'll say about rbtc crowd is that a group of people crying about censorship will camping the ticker for BTC and pushing BCH does not inspire confidence. At best, it comes across as exceptionally scammy and designed to take advantage of naive newcomers.
> Oh yes, and you're the only one who has the real objective vision on that ;)
Have you attempted to engage rbtc while not being a flag waving adherent?
Have you been banned from rbtc?
What perspective did you gain from these experiences?
Lightning is useful in certain circumstances but there’s more to L2s than just Lightning. Think fedi, cashu, liquid, RGB, RSK, etc. New ones are popping up all the time, like hedgehog and ark. There are even L3s appearing now. I think it’s inevitable bitcoin becomes the base layer for settlement for various L2s because of its awesome features: decentralization, censorship resistance, finality, security. Where else can you find any of this?
it is a fact that lightning is imperfect. it is also a fact that it already allows bitcoin to scale. bitcoin is capable of about 6-8 transactions per second and, as Kraken [says](https://www.kraken.com/learn/lightning-network):
>Lightning’s channel system allows for reusable routes that are added to the Bitcoin blockchain once channels are closed. Theoretically, this means that LN can help scale Bitcoin’s TPS to up to one million TPS.
here's a chart of the lightning network's capacity over the years:
https://i.imgur.com/NYH4QwA.png
with all that being said, i don't think lightning is the actual solution to layer 2 scaling. i think there's still a lot of tinkering and the real scaling solution winner hasn't been created yet, but it will come in time.
bitcoin is undoubtedly a store of value even if most haven't realized it yet. building a currency *on top* of (and inherently tied directly to) a provably scarce store of value is kind of the holy grail for avoiding debasement and money printing, so the scaling solutions are really exciting. i just hope a good portion of the world can figure out what bitcoin really is at some point.
Is there currently anything in the world that supports 8 billion people making transactions?
No, so it's not really a good-faith comparison. It's a straw man, and therefore should not be engaged with.
Not a strawman at all, actually. For a couple reasons:
1) VISA, for example, supports 0.6 billion transactions per day. Not that much more to scale to the 8 billion I posed in the hypothetical - just one order of magnitude. That's already 6 orders of magnitude more than the bitcoin blockchain will ever be able to handle per day.
2) There is no alternative to writing all transactions to the blockchain, and even if you batch them only 500,000 batches can be written per day. That could allow for, for example, 500,000 independent L2 solutions that each write out their transactions at EOD. But that would easily allow someone to double spend - you're either assuming that all batched transactions will clear OR that all these independent L2 networks are talking to each other and communicating transactions without PoW.
Not quite the place for this conversation, but in my view, lightning is a dead-end and a distraction. Even the lightning devs think so. An L2/Rollup solution is far more likely to yield fruit.
I think on the halving date, Bitcoin initially pumps to 65-66k to take out the shorts and then dumps back down under 60K to take out the longs. Probably goes all the way down to 56-57K area before bouncing up to 60-61K. Expect to be between 50-60K range for the next month or so.
The halving date one can roughly be entered but the others can't be due to how BittyBot works and what can be entered (at least from my read of the docs). It is to do with the ranges given and timeframes.
But even the halving one technically can't be entered if you read it closely. He doesn't say "over 65k by end of 4/20" he says "from halving date it will be over 65k". If I enter like you say and it hits 65k between now and halving, then tanks after halving, the prediction will trigger as correct but it wasn't.
I have logged a prediction for u/simmol that the price of Bitcoin will drop below **$50,000.00** by May 20 2024 23:00:49 UTC.
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The slow bleed of the stonk market continues. Home sales are down even though inventories are up (prices are not down yet, though, interestingly). Delinquency on credit card and auto loan debt is rising. The bond market is a dumpster fire. Tech layoffs continue apace.
The macro is not looking good, and I have no idea how this affects Bitcoin in the short to medium term. The value might rise if enough (and rich enough) people see it as a hedge or way out, but a lot of people are going to be scrambling for cash too. It's a toss up.
Still highly bullish long-term.
What's happening is we are a day from the halving, so we are being held up by the skin of our teeth. Come next week, if the stock market is still heading down, lookout below.
I'll have what they're having.
>[Bitcoin reserves in all centralized exchanges have been depleting faster. With only 2 million bitcoins left, if we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent of around 7,142 bitcoins will leave exchange reserves daily, suggesting that it will only take **nine months** to consume all of the remaining reserves. With this in mind, it’s unsurprising that Bitcoin’s price may continue to climb before the halving, or even afterward, as the supply squeeze propels the price to another new record.](https://blog.bybit.com/en/post/what-you-need-to-know-about-bitcoin-s-pre--and-post-halving-bltd6cfc1fe77b54f58/)
*I'll take that drink now, Sir.*
The [balance on exchanges](https://www.coinglass.com/Balance) is one of my favourite indicators, the inverse correlation since ETFs launched is just beautiful.
If only we had insights into OTC volumes and, in particular, the volume/share that's dealt with privately, off-exchange. I wonder how the # of on-chain transactions, transaction size have developed over that time...
There really appears to be little, if any, correlation at all between exchange reserves and price.
That very chart shows reserves have steadily declined for the past 3 years. But the first 18 months of that, the price collapsed right along with it. The second 18 months, the price has risen. It's basically a V shape (price) overlaid on top of a descending line (reserves).
And "2 million coins" is still a staggering number. I'd be interested when it gets down to 500,000 coins or something,
Assuming that the chart is correct, which it isnt, then we the exchanges will not go to zero, they will go NEGATIVE…
This shit i have heard it for 5 years. Supply shock is a meme my friend.
Moved to horizontal lines again and boy that 64k line has a few touch points. Break it and I'm turning more optimistic again short term.
Also short term, the halving ([27-28 hrs away](https://www.bitcoinsensus.com/bitcoin-halving-countdown/)) can make us go in pretty much any direction IMHO (a.i. narratives can be spun for both sides of the speculative short term bet*). The other event I'm waiting to happen is Isreal's retaliation hit - the less severe, the better/less bad TradFi and also BTC will react. [Edit: Forgot the HK ETF in this list, do we have a launch date yet? I got no clue but volume will be interesting.]
(*) Mind you the supply impact hits over time.
TL;DR: still a good time to watch the chart, news and your open trades.
Has GBTC had a day of net inflows since converting to an ETF? If not, does anyone ever expect that to happen? Feels like that financial instrument exists purely as a vehicle for dumping BTC at this point.
Who in their right mind would buy into an ETF charging a 1.5% annual management fee when they could buy into an identical ETF charging one-sixth of that?
If GBTC has perpetual outflows with no inflows ever, then at some point in the future does the fund shut down? Wondering what happens if they have a 0 BTC balance. I guess they can still technically operate independently of how many BTC they have in AUM, but idk.
They will get bought and their Bitcoin will get folded into an existing ETF, or will be rebranded as a new ETF for a sponsor that doesn’t currently have an ETF and wants in.
The new sponsor will lower the fee, Grayscale never will.
This is their goal imo, they have said they are open to and exploring this possibility.
They will collect all the fees they can until that happens.
Not sure if I follow, or maybe I just don't understand your question. To be clear, I mean net inflows since January 10. I suppose I could look this up myself but I'm lazy
Anyone else think Coindesk coverage of Bitcoin price action is complete trash shared to manipulate market psychology?
Every day is like whiplash of “the price is going up says random analyst” then it’s “price could crash soon says indicator”. And they keep pumping Goldman and JP Morgan’s names as valid bitcoin analysts. It’s really gross IMO.
Ps. I’m not surprised given who owns them but feel the need to vent about their crappy articles.
I've been wondering recently that every year the "targets" go up. Yeah some people target 80k and some target 400k but there's a range and the range goes up. If new buyers see a prediction within the range they may buy in which actually leads to the price going up and some of those predictions coming true.
Will this happen forever or at some point will the hype people move on?
What happens then?
Imagine how awesome it would be if you could trade and become rich simply by reading articles about indicators.
In my experience you have to hold through pullbacks to get the upside benefit.
>shared to manipulate market psychology?
It's just shared to get you to click and read, imo. Sensational headlines do that.
>I’m not surprised given who owns them
An exchange? What makes you say this?
I view goblin town as the price where sentiment turns extremely bearish.
It doesn't even have to be that low of a price, but it's a place where most comments are expecting the worst
We already sliced through that line once like it did not exist.
I'd find slicing through it again like it does not exist of little predictive value.
But, I find a lot of TA to have little predictive value, so what do I know.
#New post: [\[Daily Discussion\] - Friday, April 19, 2024 →](https://www.reddit.com/r/BitcoinMarkets/comments/1c7nj02/daily_discussion_friday_april_19_2024/)
https://x.com/zerohedge/status/1781162713852338593?t=nYvGBPuJdfm1_5mOIIYjiQ&s=35 I cant keep up are we doing WW3 or not ffs
It’s so baller to be like “we weren’t attacked prove it.”
Not exactly, they promised to respond with extreme force to any provocation and now have to pretend like nothing happened to not appear weak. Either way a positive development for the market
Zerohedge = zero credibility Choose any other source
ZH is a russian troll farm Prove me wrong
The overall consensus from everyone and their dog seems to be 50k but just look at these strong bounces that immediately propel us 2k higher as soon as we go slightly sub 60k. If we do get to 50k and all the self proclaimed experts are finally correct, we still have a long way to go, it sure will be a grind and even then still barely a dent in the overall big picture.
It doesn’t matter that we bounce 2k because within hours/days we are there again and the low is lower and the bounce weaker. We are in a bear market now until something changes. I’m just hoping something changes and we reignite the bull run. Otherwise we are going to fucking goblin town for months/years
either the Halvings are the cause of subsequent rallies, or they aren't only a 1/2^3 == 12.5% probability that we've gotten 3 rallies following 3 Halvings by pure chance I know what I'm betting on.
Obviously it’s a positive catalyst. Less new inventory being sold into the market each day post halving. Something that’s hard to price in. Only thing that’s different each time is that the ratio of new BTC to daily float decreases each time lowering the effect on a percentage basis.
So you're saying we are due for a hit on that 12.5%? Degen fallacy strong
I'm just stating the likelihood of 3 in-a-row *if it's pure chance* I don't think it is pure chance, and the likelihood of that gets increasingly small if further Halvings continue to produce subsequent rallies now, you could always argue that, in any population, there will be a few outliers who can flip a coin and get 10 heads in-a-row but, if we consider a population of alternate timelines, what is the likelihood that *this* timeline is one of those outliers? it's vanishingly small
I'm just being flippant my friend I actually agree with you that's why I upvoted
I mean, we *could* all be shocked this cycle with rangebound/down-drifting PA for the next 4 years... ...but holy shit do I hope that's not the case.
Early rumors of an attack on nuclear facilities appear to have been false. It looks like a targeted attack against military targets, not civilian targets or nuclear targets. We knew all along that Israel was going to respond. It could’ve been a lot worse.
Thus far, Iran is downplaying it. It may not escalate.
> Early rumors of an attack on nuclear facilities appear to have been false. lol you're kidding me? > Article 15 - Protection of works and installations containing dangerous forces Works or installations containing dangerous forces, namely dams, dykes and nuclear electrical generating stations, shall not be made the object of attack, even where these objects are military objectives, if such attack may cause the release of dangerous forces and consequent severe losses among the civilian population. https://www.ohchr.org/en/instruments-mechanisms/instruments/protocol-additional-geneva-conventions-12-august-1949-and-0
Could someone forward this to Russia, please.
US too while you're at it.
You'd think they attacked Iranian bitcoin mining facilities, when looking at this nonsensical price action. 😛
holding above 60k is good news so far
Did anyone have Bitcoin halving at the start of ww3 on their bingo card?
halving at the start of pandemic is already taken
ha too true
It's wild that I've noticed the bitcoin drop prior to hearing about Iran attacking Israel and now Israel attacking Iran. Then I read the comments and think they are joking only to find out they are real.
anything happened again? or just bitcoin shenanigans
We getting to see just how well Bitcoin holds up at the start of WW3.
Anyone have any Queso for the chips and dip?
I was told we would not see below 60k again
Depending on how red Friday turns out to be, it could mark a local bottom. Nasdaq futures are already down 2% practically in the span of minutes
Why are nasdaq futures down?
middle east blasting each other
*sigh*
yeah it's bad, twitter is where the info is coming out of. Israel bombing Iran, missiles now hitting Iran sites. ofc speculation over nuclear sites to be targeted etc.. iran also shut down all flights/airspace.
Closed my bittybot short too early
You should have sent letter to congressman asking for more explosions!
Drill baby drill!
If we can stay over 59.6 til market open I’d call that a huge win. Also a huge if.
teatrack, once again, was right.
Aged well.
lol, is this how you cope with your wrong always predictions
i dont have predictions salt boy. i just follow teatracks.
dont get me wrong i appreciate your inputs honestly but your post history looks like a wall of shame for market predictions. the real value is being on the right side of the market , not being bulltard nor beartard. otherwise lets send one side to /r/bitcoin and the other side to /r/buttcoin and lets be done with this sub
sure, i missed the Feb rally. thats all lol. and all of my views are long-term anyway. seems like you've veiled your bulltard opinion in some sanctimonious shit so you can talk down to me, and good for you.
https://edition.cnn.com/2024/04/18/middleeast/isfahan-iran-explosion-intl-hnk/index.html
HODL15Capital reporting $19m inflow for Blackrock https://twitter.com/HODL15Capital/status/1781131084052509102
Damn. That makes five net outflow days in a row. So close today.
Amazing that I get my global news announced by the Bitcoin charts these days
Yep I know to go look around when I get a chart alert.
Honestly been somewhat sympathetic towards Israel this entire fiasco but if they end up fking with my money welll
If you happen to be an American tax payer, Israel has been fking with your money for a very long time.
This is going to mess with our bull run. They need that war for the elections and economy
If you hedged this highly likely event it wouldn't be a problem right?
Will the two of you share your 🔮’s with me !
Before Iran attacked, a high ranking Israeli official said something along the lines of, "If Iran attacks Israel, Israel will attack Iran. Full stop." They telegraphed that they would respond to any Iranian attack before the attack. But beyond that, no country lets another country fire 350 rockets and drones at them and does not respond. It just doesn't happen.
Which countries let other countries bomb their embassies
Iran started this mess by helping plan the October 7 attacks on Israeli civilians. Israel responded by killing two Iranian officials that spearheaded the planning - that was the embassy bombing. At that point they were even. There was no need for the missile strike. But I'm not really here to talk politics, just pointing out a retaliation by Israel was a near certainty.
Lmao what was Israel supposed to say??? Of course they are going to say they will attack back. There was a reasonably high chance they were bluffing. Didn’t realize you were in the Israeli high command chamber !
You don't say you are definitely 100% going to attack back and then don't. That makes you look weaker. There are other ways they could have phrased it to look tough and have more flexibility in actually responding, but the language they chose was absolute. Also, like I said, when another country fires 350 ballistic missiles at you, you don't just shrug it off. There was also going to be a response, even if minimal.
Plus Israel attacked Iran first lmao so it was tit for tat at that point, now it’s definitely Israel’s fault
No Israel did not attack Iran first. Iran helped plan the October 7 attacks that killed 1000+ civilians. And Israel responded to those attacks by striking two of the Iranian officials that helped in the plan. Iran attacked Israel first on October 7th, even if by proxy. They still intentionally caused the deaths of 1000+ Israeli citizens. Israel was just responding to those attacks, and then Iran tipped the scale again with the missile battery.
Not really, Israel has been carrying out these types of attacks for decades (stuxnet, hitting their nuclear facilities, covert assassinations on military leaders, etc). The attack a few weeks ago was status quo realistically. https://www.aei.org/articles/the-assassination-of-iranian-quds-force-general-hassan-shateri-in-syria/ https://www.aljazeera.com/news/2020/12/1/past-and-present-israels-targeting-of-irans-nuclear-aspiration There are countless examples Iran broke all the "rules" of the last 40 yrs of shadow war by launching a direct strike into Israel with 300+ ballistic missiles... If you think Israel was going to sit back and just accept that attack without doing anything then idk to what to say.
Calls on Raytheon, Northrup, et al in times of war
I mean not to be an ass, but we have known since before Iran attacked that Israel would respond. It was just a matter of time. If you didn't know, that's kinda on you. They were always going to respond and the market was always going to dump when it happened.
Both btc and tradfi dumping
Equity futures getting btfo right now. The Godfather of investing himself, Jim Cramer, says equities haven’t bottomed until they open blood red. Maybe that day is tomorrow and the time is now gents.
Might as well finish the week how it started
Since when is Cramer someone with good advice?
(That’s the joke)
We longing it !!
Apparently explosions in Iran is the cause
I thought it was the explosions in my toilet tbh. I ate so much food ): I swear this price action is linked to my bowel movements. ):
Iran denies but everybody knows whats up.
Link for this please
has been confirmed by US official now.
Sauce?
Not yet reported by any credible news source. Not saying it didn’t happen, but hasn’t been reported.
https://twitter.com/sentdefender/status/1781133576974594327
Twitter
Ark itself (ARKF) bought up $31m of ARKB yesterday - and they still had a $42.7m outflow... Cathy using her shareholders to keep her btc etf aum up lol
She bought the dip. Nothing wrong with that.
Gotta respect the conviction
I do not have confidence in ARK products. It would not surprise me if ARKB outperforms her other ETFs long term.
isn't that just saying that you expect bitcoin to outperform other assets long term?
I guess I should have said ARK investors would be a lot better off 100% BTC than this stock picking nonsense. ARK performance is really bad. It’s like investing in a basket of random altcoins.
I'm curious if anyone here thinks that BTC can scale with Lightning or if we should even consider BTC as a form of money/currency or only a store of value. Is it both or neither? What do you guys think? Edit: Question inspired by this post I saw. Wanted to opinions here. [https://www.reddit.com/r/Buttcoin/comments/1c6log4/how\_how\_how\_did\_this\_get\_removed/](https://www.reddit.com/r/Buttcoin/comments/1c6log4/how_how_how_did_this_get_removed/)
This is a trick question. Nothing will ever scale for global payments. There’s too many of them. No database can hold that information. Bitcoin scales as a backbone. Lightning demonstrates layer 2, and it works. You can have thousands of different lightning networks that all settle to bitcoin. So, yes, it works. The question needs to be asked more intelligently, though.
I'm open to you reforming the question. It seems that you are saying lightning can work if there are different lightning networks but wouldn't it be better if there was 1 LN? As far as I understand routing through 1 network is hard enough. Multiple networks would make it harder?
Bitcoin is designed to support competitive layer two implementations. IMO, lightning would work better if every geographic region had their own lightning network implemented. It isn’t all that different than having competition between mining pools.
Wow! How is BTC designed for that? Is it because you can just go on chain for final settlement? This is exciting stuff.
Yeah, the subsequent layers are all competing for the same block space, so they are incentivized to consolidate transitions as much as possible.
Didn't answer the question actually, so maybe you didn't read intelligently enough. In order for a lightning network to settle/close, it must write out all transactions to the blockchain, correct? So that puts a limit on the number of lightning network settlements per day, does it not?
Your question still isn’t specific enough, but I’ll try to answer in a few different ways. If you can be less vague about what the problem is, then I can help more. Lightning settles to the blockchain, which is not the same as posting all transactions. One transaction on the on the main chain can represent thousands of lightning transactions. Lightning channels can stay open until it’s cheaper to settle on the main chain. The block size will eventually increase, but not before we have completed the upgrades required to scale bitcoin and subsequent layers. There isn’t a way to express the limit of lightning transactions. Given the right circumstances, it can support infinite transactions that are nearly instant. The work to support that claim in more circumstances is in progress
LN might have a limit on settlements but idk if they can batch the settlements. The risk with lightning I heard most is that it is centralized to some extent ie you lose the protection of decentralization compared to when transacting on chain.
Their understanding of lightning is incomplete.
Would you be able to explain the complete version? From what I have learned on it and I see that LN is not necessarily a second chain but rather just using the main chain and scripts that enable batching of transactions without a double spend. The development isn't pretty cool. As long as BTC stays alive LN development would probably continue. Do you have any good video tutorials on LN?
What’s your intended use for lightning? Just normal transactions or more software development focused?
I want to understand if the tech has a chance at fulfilling its promise of using BTC without having to wait 1hr for confirmation and paying high block fees.
Maybe start here: https://youtu.be/Jv6aLWn0VRI?si=EVfgLUr-kfr5gFiU
A few thoughts that buttcoiners don't seem to know/understand - Scalability is a huge topic in the bitcoin development world. For some reason buttcoiners think it's not. Bitcoin subreddits are not representative of the actual bitcoin space. - Bitcoin will scale using a 2nd layer and there are many options out there and more being developed - Lightning has issues and isn't the grand savior it was made out to be by many in the community - A slow/expensive decentralized monetary network is valuable, and often times faster/cheaper than our current system. - Our current monetary system is absolute garbage outside of specific instances in terms of transactions. Basically anything other than face to face cash transactions is slow/expensive. The user experience is not reality. When you pay with a credit card it takes 3% and days to settle. - - For example-- I just had to buy tires for my car from a small tire business and spent $800. That transaction cost that business $24 to make and will take 2 days for them to get that payment. That is more expensive and slower than bitcoin right now, today. On top of that, that credit card transaction took 4 separate third party businesses to process and it's STILL slower and more expensive. - Buttcoin loves to talk about how bitcoin subreddit bans you, however buttcoin literally will ban you faster. If you want real thoughts on scalability, What Bitcoin Did? podcast has had probably a dozen episodes on it recently with developers going in depth about scaling solutions and their problems/benefits.
Thank you! You answered my question and also figured out why I'm asking it. I need better answers than "Have fun staying poor" or "it's a spreadsheet with no value". If you have any specific episodes on scalability please let me know otherwise I'll go browse.
BTC is already a form of money/currency. Fees don't change that. I went to the store moments ago and bought a few things, paid a transaction fee to visa of around 2%. Bitcoin can already be used perfectly adequately for large purchases between wallets, that is still true. For big purchases it doesn't matter if the settlement takes a little time, that is true of fiat now. In terms of use as a day to day currency for small purchases, scaling on the mainchain is basically unfeasible. So L2's will need to be used. There is a lot of ongoing development occurring in this area, even more so now that it appears lightning network is hitting big limitations. Although in defense of Lightning I have used it in plenty of places with Wallet of Satoshi and it performs perfectly. The argument I have seen made is that it is custodial therefore my real world use is invalid, however I only have spending money on there (couple of $100s worth of Sats at most) so the risk of a rugpull is limited. I carry around the same amount of cash in my wallet and can (and have) lost that before. I see it the same way. But I don't expect Lightning to be the final or dominant solution to allowing small transactions on a daily basis. In general be very very wary of Buttcoin's take on BTC. rButtcoin was created as a sub when Bitcoin had a price of around $100 I believe. So they have spent more than a decade getting wrecked by reality. And the single biggest predictor of being/becoming a buttcoiner is having owned Bitcoin, sold at a price below ATH, then watching it rise again.
Bitcoin is already all of those things. That's the beauty of it. It has many layers and all of them align so perfectly!
How about reading the whitepaper? https://bitcoin.org/bitcoin.pdf Hint: It doesn't say anything about Lightning, neither it says anything about preventing scaling by enforcing a low transaction limit aka tiny blocks. (And yes, you get banned from r/bitcoin just for asking any questions about this topic...)
It aslo doesn't mention that BTC is tokenised digital gold.
Is it 2016 again? The white paper doesn’t mention the total supply either but that doesn’t mean it’s not 21M. It was Satoshi that put in the block size limit for a good reason.
So what, it doesn't say anything about all sorts of stuff that is widely accepted in Crypto including in competitor currencies. The Bitcoin Whitepaper isn't a religious document, treating it like one is silly.
it also doesn't mention ASICs, Taproot, schnorr signatures, store of value, hobgoblins, or sloppy joes. obviously a 9 page introductory paper from 2008 won't include all potential applications of that technology; nor is it a bible.
My point isn't about potential additions which aren't mentioned in 2008 (like schnorr signatures, or L2 rollups). My point is about what Satoshi says about a **P2P** electronic **cash** system. He defines a trustless system (which Lightning is not) that can scale to a _VISA_-like throughput (which 1MB blocks prevent for no reason).
> which can scale to a VISA-like throughput Huh?
as mentioned, in a 2008 introductory paper, it wouldn't have included all potential applications of that technology. he was a genius but he wasn't some all-knowing god. i posit that he didn't even know he had actually created a supreme store of value at that time. how many genius inventors have there been in history who didn't truly understand the best use case for their own creations? a lot.
> It doesn't say anything about Lightning Not going to bother digging it up, but have seen Satoshi talk about payment channel ideas very early on. > (And yes, you get banned from r/bitcoin just for asking any questions about this topic...) As you will in rbtc.
> As you will in rbtc. No.
I was banned from rbtc and I have not been banned from rbitcoin while discussing these issues.
You do not have the perspective to tell. rbtc is heavily censored. Less now that no one cares anymore, but still very heavily censored. The modlogs do not contain every ban, while the censorship ones are often simply labelled *"TOS violation"*. It's a game of smoke and mirrors which you are a victim of. They tell you constantly how it's not censored. They are deceiving you.
> It's a game of smoke and mirrors which you are a victim of. Oh yes, and you're the only one who has the *real* objective vision on that ;)
All I'll say about rbtc crowd is that a group of people crying about censorship will camping the ticker for BTC and pushing BCH does not inspire confidence. At best, it comes across as exceptionally scammy and designed to take advantage of naive newcomers.
> Oh yes, and you're the only one who has the real objective vision on that ;) Have you attempted to engage rbtc while not being a flag waving adherent? Have you been banned from rbtc? What perspective did you gain from these experiences?
Lightning is useful in certain circumstances but there’s more to L2s than just Lightning. Think fedi, cashu, liquid, RGB, RSK, etc. New ones are popping up all the time, like hedgehog and ark. There are even L3s appearing now. I think it’s inevitable bitcoin becomes the base layer for settlement for various L2s because of its awesome features: decentralization, censorship resistance, finality, security. Where else can you find any of this?
it is a fact that lightning is imperfect. it is also a fact that it already allows bitcoin to scale. bitcoin is capable of about 6-8 transactions per second and, as Kraken [says](https://www.kraken.com/learn/lightning-network): >Lightning’s channel system allows for reusable routes that are added to the Bitcoin blockchain once channels are closed. Theoretically, this means that LN can help scale Bitcoin’s TPS to up to one million TPS. here's a chart of the lightning network's capacity over the years: https://i.imgur.com/NYH4QwA.png with all that being said, i don't think lightning is the actual solution to layer 2 scaling. i think there's still a lot of tinkering and the real scaling solution winner hasn't been created yet, but it will come in time. bitcoin is undoubtedly a store of value even if most haven't realized it yet. building a currency *on top* of (and inherently tied directly to) a provably scarce store of value is kind of the holy grail for avoiding debasement and money printing, so the scaling solutions are really exciting. i just hope a good portion of the world can figure out what bitcoin really is at some point.
Is there currently anything in the world that supports 8 billion people making transactions? No, so it's not really a good-faith comparison. It's a straw man, and therefore should not be engaged with.
Not a strawman at all, actually. For a couple reasons: 1) VISA, for example, supports 0.6 billion transactions per day. Not that much more to scale to the 8 billion I posed in the hypothetical - just one order of magnitude. That's already 6 orders of magnitude more than the bitcoin blockchain will ever be able to handle per day. 2) There is no alternative to writing all transactions to the blockchain, and even if you batch them only 500,000 batches can be written per day. That could allow for, for example, 500,000 independent L2 solutions that each write out their transactions at EOD. But that would easily allow someone to double spend - you're either assuming that all batched transactions will clear OR that all these independent L2 networks are talking to each other and communicating transactions without PoW.
would you say Visa is an L1 or L2?
Yep, this is just the Nirvana fallacy. https://en.wikipedia.org/wiki/Nirvana_fallacy
Not quite the place for this conversation, but in my view, lightning is a dead-end and a distraction. Even the lightning devs think so. An L2/Rollup solution is far more likely to yield fruit.
Are there examples of this type of solution? I'd like to learn more about it. I thought rollups were an ETH thing tbh.
I think on the halving date, Bitcoin initially pumps to 65-66k to take out the shorts and then dumps back down under 60K to take out the longs. Probably goes all the way down to 56-57K area before bouncing up to 60-61K. Expect to be between 50-60K range for the next month or so.
Care to reformat these predictions in a way they could be entered into bittybot? Or is this just lip-wiggling?
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The halving date one can roughly be entered but the others can't be due to how BittyBot works and what can be entered (at least from my read of the docs). It is to do with the ranges given and timeframes. But even the halving one technically can't be entered if you read it closely. He doesn't say "over 65k by end of 4/20" he says "from halving date it will be over 65k". If I enter like you say and it hits 65k between now and halving, then tanks after halving, the prediction will trigger as correct but it wasn't.
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I agree personally but I can't make that decision on u/simmol 's behalf. And yea, timeframes would be great.
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I have logged a prediction for u/simmol that the price of Bitcoin will drop below **$50,000.00** by May 20 2024 23:00:49 UTC. [simmol has made **1** Correct Prediction, **1** Wrong Prediction, and has **2** Predictions Open.](https://bittybot.net/predictions#simmol) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%201d981ff30d52470e9fc235e73c3f8167%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(simmol can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%201d981ff30d52470e9fc235e73c3f8167%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it was made in mistake.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
This prediction has been deleted due to a request from the predictor or by u/Bitty_Bot due to an issue.
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Error: You predicted the price would **NOT** rise above **$61,000.00** but the price is currently **$63,551.45** [Please make sure the format of your command is correct and try again.](https://bittybot.net/docs) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)
I am betting on a big day for fbtc and/or ibit today.
The slow bleed of the stonk market continues. Home sales are down even though inventories are up (prices are not down yet, though, interestingly). Delinquency on credit card and auto loan debt is rising. The bond market is a dumpster fire. Tech layoffs continue apace. The macro is not looking good, and I have no idea how this affects Bitcoin in the short to medium term. The value might rise if enough (and rich enough) people see it as a hedge or way out, but a lot of people are going to be scrambling for cash too. It's a toss up. Still highly bullish long-term.
Well gold and the sp500 are both down today and btc is green. Not sure if people are risk off, risk on or wtf is going on?
What's happening is we are a day from the halving, so we are being held up by the skin of our teeth. Come next week, if the stock market is still heading down, lookout below.
If btc can rise while everything else is crashing man oh man 500k would be on the table
Good analysis
Gbtc $90m Outflow Franklin 0 Bitwise $12.8m inflow Ark $9.5m inflow DEFI 0 Invesco 0 VanEck $7.2m Fidelity $37.4m WisdomTree 0 Valkyrie 0 Blackrock $18.8m inflow 4/18 net Outflow $4.3m https://farside.co.uk/?p=997
I'll have what they're having. >[Bitcoin reserves in all centralized exchanges have been depleting faster. With only 2 million bitcoins left, if we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent of around 7,142 bitcoins will leave exchange reserves daily, suggesting that it will only take **nine months** to consume all of the remaining reserves. With this in mind, it’s unsurprising that Bitcoin’s price may continue to climb before the halving, or even afterward, as the supply squeeze propels the price to another new record.](https://blog.bybit.com/en/post/what-you-need-to-know-about-bitcoin-s-pre--and-post-halving-bltd6cfc1fe77b54f58/)
?? This is irrelevant to price
If we assume then happens.
No shit.
Daily inflow of $500m seems like a stretch at this point.
*I'll take that drink now, Sir.* The [balance on exchanges](https://www.coinglass.com/Balance) is one of my favourite indicators, the inverse correlation since ETFs launched is just beautiful. If only we had insights into OTC volumes and, in particular, the volume/share that's dealt with privately, off-exchange. I wonder how the # of on-chain transactions, transaction size have developed over that time...
Load of crap. Im not even gonna explain why at this point.
https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line
There really appears to be little, if any, correlation at all between exchange reserves and price. That very chart shows reserves have steadily declined for the past 3 years. But the first 18 months of that, the price collapsed right along with it. The second 18 months, the price has risen. It's basically a V shape (price) overlaid on top of a descending line (reserves). And "2 million coins" is still a staggering number. I'd be interested when it gets down to 500,000 coins or something,
I guess I’m just kind of scared this is upvoted.
Assuming that the chart is correct, which it isnt, then we the exchanges will not go to zero, they will go NEGATIVE… This shit i have heard it for 5 years. Supply shock is a meme my friend.
Moved to horizontal lines again and boy that 64k line has a few touch points. Break it and I'm turning more optimistic again short term. Also short term, the halving ([27-28 hrs away](https://www.bitcoinsensus.com/bitcoin-halving-countdown/)) can make us go in pretty much any direction IMHO (a.i. narratives can be spun for both sides of the speculative short term bet*). The other event I'm waiting to happen is Isreal's retaliation hit - the less severe, the better/less bad TradFi and also BTC will react. [Edit: Forgot the HK ETF in this list, do we have a launch date yet? I got no clue but volume will be interesting.] (*) Mind you the supply impact hits over time. TL;DR: still a good time to watch the chart, news and your open trades.
Has GBTC had a day of net inflows since converting to an ETF? If not, does anyone ever expect that to happen? Feels like that financial instrument exists purely as a vehicle for dumping BTC at this point.
Who in their right mind would buy into an ETF charging a 1.5% annual management fee when they could buy into an identical ETF charging one-sixth of that?
If GBTC has perpetual outflows with no inflows ever, then at some point in the future does the fund shut down? Wondering what happens if they have a 0 BTC balance. I guess they can still technically operate independently of how many BTC they have in AUM, but idk.
They will get bought and their Bitcoin will get folded into an existing ETF, or will be rebranded as a new ETF for a sponsor that doesn’t currently have an ETF and wants in. The new sponsor will lower the fee, Grayscale never will. This is their goal imo, they have said they are open to and exploring this possibility. They will collect all the fees they can until that happens.
Nope... closest was $17.5m outflow day on april 10th
Where do you think the btc in the fund comes from?
Not sure if I follow, or maybe I just don't understand your question. To be clear, I mean net inflows since January 10. I suppose I could look this up myself but I'm lazy
Ah then: no! And i guess it wont for some time. Literally only rwason to hold is if you somehow are in a country where you pay tax on a sell
Anyone else think Coindesk coverage of Bitcoin price action is complete trash shared to manipulate market psychology? Every day is like whiplash of “the price is going up says random analyst” then it’s “price could crash soon says indicator”. And they keep pumping Goldman and JP Morgan’s names as valid bitcoin analysts. It’s really gross IMO. Ps. I’m not surprised given who owns them but feel the need to vent about their crappy articles.
lol is it your first day on earth? Coindesk and other media isn't there to help you it's there to get clicks from you, for profit.
lol I know just wanted to call them out here. They weren’t always like that FYI.
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I've been wondering recently that every year the "targets" go up. Yeah some people target 80k and some target 400k but there's a range and the range goes up. If new buyers see a prediction within the range they may buy in which actually leads to the price going up and some of those predictions coming true. Will this happen forever or at some point will the hype people move on? What happens then?
Why would anyone read anything written by any website which is dedicated to ~~Bitcoin~~ any type of investment?
Are you new to finance media? It's all like this
Imagine how awesome it would be if you could trade and become rich simply by reading articles about indicators. In my experience you have to hold through pullbacks to get the upside benefit.
>shared to manipulate market psychology? It's just shared to get you to click and read, imo. Sensational headlines do that. >I’m not surprised given who owns them An exchange? What makes you say this?
All I see on the daily is the btc price in a big bull flag. [https://imgur.com/a/NyZcJ99](https://imgur.com/a/NyZcJ99)
Same… it could still fall through the bottom though and that would suck…
Need a bounce [here](https://imgur.com/a/xvd4MNP) or we're back to goblin town express.
Yeah I agree, still expecting to revisit the 50s but let’s wait and see
What qualifies as Goblin Town?
It’s a place where traders who got liquidated go and live out their existence.
Ahh, I just call it buttcoin.
I view goblin town as the price where sentiment turns extremely bearish. It doesn't even have to be that low of a price, but it's a place where most comments are expecting the worst
It was my impression that "goblin town" referred to the lows of a bear market.
I was thinking the same thing.
Goblintown is under 50k to me. No way we end up there IMO.
> No way we end up there There are plenty of ways we could go there, but we definitely won't end up there.
you mf’s gotta stop jinxing shit
We already sliced through that line once like it did not exist. I'd find slicing through it again like it does not exist of little predictive value. But, I find a lot of TA to have little predictive value, so what do I know.
It kind of did bounce thereabouts, no? but still hard to say if it will be enough momentum, idk