Irrelevant
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Let me tell you boys where not to go, LAC, only to be outdone by their Argentinian side LAAC.
Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
What's the next $30,000 move? 100k or 40k?
BigHornRam
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Flip a coin.
SAJ-99
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Astralabs (ALAB) IPO next week will be the interesting watch.
noharleyyet
Well-known member
no kidding..
No really. You think it's going higher or lower?
noharleyyet
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SAJ-99
Well-known member
Yeah, one of those two directions for sure.
There isn't even a cheap way to play it if I had a guess. Most the of the ETFs don't have options and the options on the Futures have zero liquidity. MSTR is just a bitcoin proxy at this point and its implied vol is over 160%. I.e., You pay $325 for a put and only make $1625 if the stock goes to zero IN THE NEXT 39 DAYS. No F-ing way I'm touching that. We have seen this before and we know how it ends. Just can't tell anything on the timing.
Fair enough. I just remember a less than positive post or two of yours from a year ago but maybe that was ripping on Sam Bankman more than bitcoin.
Personally, I think it goes higher this year and next. It's been around for 15 years now. There is clearly a lot of demand from people buying the ETFs and it will have the halving event this spring. It's obviously volatile. It might go to 30k before it goes to 100k but overall, those are some solid tailwinds.
noharleyyet
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You sound like an advocate...I wish you good fortune.
more_cowbell
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I was thinking this current dip in Nvidia price is maybe people moving money into BTC.
Benfromalbuquerque
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Ok, riddle me this. If you believe so strongly in this then why do you feel compelled to defend it? And say you convince yourself to go all in on BTC, would you have the conviction to sell at a certain gain or would you hodl for more? It would be great to benefit like a Winklevoss, but the security of 10% or whatever index gains is Buffet style and that’s a realistic win.
SAJ-99
Well-known member
You are up 71% in 10wks. Simply put, that can't continue. By the end of the year it would be worth $1.3m. The benefit from the ETF is clear, the downside is those people have zero belief in whatever the story is. They are in it for the run. And when the run stops, they will be out. Without a true use case, bitcoin remains a made-up thing that people hope to get rich on (richness measured in $s of course). Some will get rich, and many will end top losing money. Welcome to Wall Street.
jryoung
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One of my friends has close ties with Roger Ver (look him up, he's got a crazy story). Anyway, he was trying to get me to buy Bitcoin in 2013.....if only I spent $1000 on it back then....same with Nvidia.
Haha. Not necessarily an advocate. Just glad to have been a buyer and holder of it on dips the past few years.
I wouldn't say I'm defending it, just giving my opinion. I really haven't even said much about it. And I get it, bitcoin is a wild idea. I feel like it's been around long enough though that it's probably here to stay. And if it's here to stay, there's increasing demand and decreasing supply. That's a good setup IMO.
And I only have maybe 2% in bitcoin. If it goes to zero, it won't kill us. And if it keeps going up, I'll trim it and buy a landowner deer tag.
Agreed. If anyone is expecting similar results for the rest of the year or anything close to it, they are in for a disappointment. Even if it goes flat or down 10-20% the rest of the year, that will still be a great year.
Maybe. Maybe not. That's far from a certainty.
SAJ-99
Well-known member
Agree, but I am certain as to the make-up of ETF buyers. I forgot to include that the upside is that with an ETF you get more "dip" buyers. A bet on $30,000 would be tough. There should be a lot of people willing to "dip their toe in" well above that. I'm not sure where the top in this run is though. 100k? Seen too much in this business to say that is impossible.
grizzly_
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I'm not a BTC proponent, but I am of ETH.
There's over $100B in decentralized finance on the ethereum network right now. That, plus the creation of the world's super computer, offer the use case that I don't see with BTC.
It's up 2890% in the last five years. It won't replicate that growth, but something like 200-300% is foreseeable from here, IMO.
I think it'll hit $5k this year, maybe in the next 60 days, which is an increase of 20%. For reference, it's doubled in the last 120 days. I wouldn't be surprised to see $10k within a few years. I'll be surprised if it doesn't get there eventually.
Crypto is really divisive, the supporters are advocates and the naysayers can't help but try and rain on the parade. It's an interesting paradox.
There's over $100B in decentralized finance on the ethereum network right now. That, plus the creation of the world's super computer, offer the use case that I don't see with BTC.
It's up 2890% in the last five years. It won't replicate that growth, but something like 200-300% is foreseeable from here, IMO.
I think it'll hit $5k this year, maybe in the next 60 days, which is an increase of 20%. For reference, it's doubled in the last 120 days. I wouldn't be surprised to see $10k within a few years. I'll be surprised if it doesn't get there eventually.
Crypto is really divisive, the supporters are advocates and the naysayers can't help but try and rain on the parade. It's an interesting paradox.
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antelopedundee
Well-known member
I don't since I don't itemize!
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