Short term price calls are always so hard to get right regularly. That's why I trade after long term holds only. As bitcoin still reacts to 4 year halving cycles it is a lot easier to know what to do & when, rather than trying to follow lines on a chart & different models. Of course it’s fine to take advice & bits of info from different models but short term trading is very easy to get rekt. To conclude, no selling until a year after the halving, buying now is fine.
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I wouldn’t advise you to invest a large sum in either but if I had to pick one to allocate funds to I would say Tesos. That’s only because I think it has a better long term reputation. I trust it more than Osmosis but that’s the only real positive I can give towards Tezos. I still wouldn’t feel comfortable investing much money in it.
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Literally every other cryptocurrency follows the price trajectory of bitcoin. We still see 4 year halving cycles with bitcoin from bear to bull & repeat. Pretty much every other coin follows bitcoin, it’s probably because there are so many BTC pairings on exchanges. People try to duck & dive in & out of bitcoin to take advantage of alt swings. It’s going to be a while before bitcoin stops controlling the oath other coins take.
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Transaction fees were high because or ordinal & brc20 spam. They weren’t really high because of increased number of transactions. They were high because of bloated blocks due to morons spamming the network with crap. People were having to pay more to get their transactions confirmed.
Normally when fees rise because if a congested blockchain it could be a sign of the peak in a cycle which could hint at a sell off but in this scenario I would say no.
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It’s very frustrating but meme coin season peaked & seems to be phasing out. The issue with bitcoin fees due to ordinals & BRC20 spam has also seemingly peaked.
We should see gas fees really plummet soon. I hope to see them slashed to at least 50% of what they currently are in the coming months.
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Binance looks to have been the top, it’s massively dumped since then. Unfortunately I bought near the top& I’m down about 60% since then. I think it’s looking like a probable pump & dump. I don’t think it has a big future, you may catch a dead cat bounce or two but it’s not a good idea to allocate too much capital into PEPE.
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In all likelihood Satoshi is dead or ill & unable to respond. If he is alive though & able to communicate he obviously doesn’t want to risk doxing himself & is happy with his creation. He doesn’t want to take center stage. He didn’t appear during the block size wars so current affairs are nothing compared to that. To be honest I don’t think we will ever hear from Satoshi again, I think that is the best scenario any way.
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USA CPI Data Update: CPI: 4.9% YoY, 0.4% MoM Forecasted: 5.0% YoY, 0.4% MoM
Core: 5.5% YoY, 0.4% MoM Forecasted: 5.5% YoY, 0.4% MoM
Its a great news guys, the inflation is falling gradually if not drastically. Now, hopefully the fed wont raise its interest rates the next month. Markets are already celebrating today's data anyways.
Hopefully the FED pivot but they haven’t indicated that they will yet. They said they will continue to increase if they need to. I was too young to have a real interest in 2008 during the financial crisis but when they decided to pivot, was it the start of a bull market for stocks & other assets? Basically will pivoting lead everything to go up?
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I think it’s a good thing if there is a patch that stops their BS. Fees were up to over 300 sat per byte which is ridiculous. I mean we could wait for the trolls to run out of bitcoin so their spamming dies down but doing something to stop it is wise. It’s not being done for any other reason than to spam the network.
I’m sure miners were enjoying it but it’s not what bitcoin was created for. Shitcoiners are welcome to fork bitcoin & continue their nonsense on another chain, alternatively use BCH or BSV which have bigger & often empty blocks.
Any way I doubt anything will be done. Fees are already lower than the peak as the mempool clears a bit.
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They can last for a very, very long time. Nobody can promise you that they’ll be worth anything other than dust in decades to come though. In my opinion they are just a passing phase, a bit of a fad. I don’t think they will return to highs we saw in the last bull run. That was mostly wash trading imo. So yeah, they can last for a long tike but will people be paying big money for monkey JPEGS in 2060? I am not so sure.
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I bought it near the top, I bought MONG which is being shilled by crypto influencer, Crypto Bitlord. Both are down massively, I feel a bit stupid but I’m going to hold them down to $0 if I have to. They weren’t big investments so I will hold them & hope for a resurrection. With some luck they will both pump to new highs in the next year or so.
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It happened with the block size wars back in the day. BCH was forked, we were told it’d become the number one coin & here we are years later, it’s a shitcoin that hardly anybody used. These ordinals are an attack designed to make bitcoin require higher fees. It'll pass though, every time somebody decides to test bitcoin they fail.
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Short term if the global economy collapsed, I assume bitcoin would react negatively & dump. Bitcoin still dumps in disaster events like we saw initially with the corona virus. Medium to long term though bitcoin will pump hard & do what it has been doing since 2009, block after block, increasing in value, beating inflation. Pay less attention to short term price fluctuations & look long term. The fiat economy is a massive ponzi, it’s propped up on stilts. It will collapse, the only question is how long until that happens.
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If I could travel back in time there are so many things I’d do & if I’m honest, buying bitcoin earlier probably isn’t one of them. I have done well in bitcoin, sure I could have bought earlier. If I could travel back in time though I would probably spend more time with relatives who are no longer here (sorry to be boring).
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Short term price fluctuations do not indicate a level of trust as you ask OP. If you mean, can you rely on bitcoin as a store of value which will beat inflation over years & likely rapidly increase in $ perceived value over years then I would say yes.
Price fluctuations are very much still part of bitcoin. It is not a stable coin, there are times when we see wild swings in both directions. Your money is definitely going to do well invested in bitcoin though so in that sense, yes you can trust bitcoin.
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I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.
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My guess for the highest price in May is something like $33,000. I think the price is holding up well in reaction to a bunch of banks going bust in the US. Maybe this means the chance for further downside is limited. So yes, my estimate is that we will see a new yearly high of $33,000 in May.
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Nothing that is happening currently to the price of bitcoin is new. We still have high volatility, it’s a feature of bitcoin due to the boom, bust 4 year cycles that center around the halving. Hopefully though we have bottomed at 16k & are beginning the slow, steady transition into a new bull market.
Don’t worry about short term price volatility though, bitcoin is going nowhere & is here to stay. As always, if you are patient you will do very well in bitcoin.
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It is getting quite irritating that they seem to be spamming the blockchain just for fun. It’s basically trolling as its making fees so much more expensive. I can’t think of any reason that is attractive for somebody to desire to spam blocks with dumb ordinals.
Hopefully it’s just a bit of a fad & it passes soon because the amount of unconfirmed transactions on the blockchain is at an ATH.
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