Lambo probably worked out fine as a prize for publicity and its just a case of balancing the sums to justify which I presume it does as they keep running it.  Cant see why that particular point would be in for criticism when every site needs people and anything that draws attention is justified in that way then.

I doubt it will take that long to get to 61k which is feasibly where the price declines and once there appreciates right back to 70k or so yet again.    Not sure I imagine any of these summer months doing that much in sum total so I roughly agree with the idea but I dont think I want to save it that long unless I knew for sure which I dont.  Got too many now.

50 day average is still climbing which is good but we have a weeks worth of trend decline seems like.  The reasonable assumption at this point is we are quite likely continue that decline.

My overall presumption so far not yet disproved unfortunately is that every attempt we have to break range is going to keep failing.  Upwards wont break free but fall back and even negative sells are bought up hence a resigned position continues back and forth up and down ad infinitum.

We dont need people to invest everything in crypto but even 1% invested by most pension schemes would be revolutionary just on that small scale.    I think most of the market is chasing AI at present as a great source of growth but it could extend that attitude towards a variety of new technologies in the end not just the obvious catch word technologies already known to the mainstream.

I already thought for a while Bitcoin needs to keep on innovating to provide for across the entire population regardless of their interest in technology normally.

I thought this was purely a USA type law restricting citizens possibly, not an issue for the entire world but maybe thats not the case.   Gambling is not banned in most places, its just a question of various taxes depending where its based and so on.  I know USA had a deal wanting to tax any company serving its citizens so its related to that probably.

Someone correct me here but we're seeing an elevated amount of volatility I think.   70k flushed down to 66k then we recovered all that loss to test just the same prices which we have now declined from a bit.

   The day is positive but this is volatile BTC price action I believe.  I do think we need to attain 69k and move with that level as support to no longer fear a negative BTC progression.

Rich in quantity doesnt matter exactly but the leeway and freedom it gives while gambling does.    The main difference in being rich is the basic needs are tiny compared to your wealth, to eat and live is just a tiny cost and of no real worry.   If you gamble while poor you must be very modest, controlled with good discipline you might win the bets but it does take more in that control to win with a little. 

Also when you are rich you just have more time spare I think, more space with which to gamble and obviously more money to spend on every game without the losses mattering at all.   People who are less rich do often have the same option in crypto just to gamble a little till they are comfortable hence this word sums it up for.  Be comfortable and you are more likely to win, its not exactly about the magnititude and quantity of money you are betting but the ease and relaxed state helps with less anxious betting.

The only big real point in favor of FIAT is liquidity which can be important to an economy.  Obviously politics favors itself in this respect and the control given to the ruling regime.

Gold cannot be duplicated or invented except by exact known processes so it has been seen as the most genuine of currencies.

Bitcoin is obviously best suited online to the modern age and many think it will take over completely for that reason; imo some combination of all three continues but with a vastly different balance to the present seems likely as we see the flaws in FIAT unfold.

72k was in effect a local top recently, we didnt touch it but in May and June so far thats acted as a ceiling.   We were closing out positive on the weekly bar and that was ironically positive despite a sell on Friday however this week start has not been good so far.

What happened today was a pullback to the 50 day average, fairly serious as a serious medium term measure of momentum.  Thats been the low for now and we are challenging the 12hr average to recover some of todays losses.  Basically its going to take the rest of this month to wind up and attempt higher if BTC should prove strong enough at this time.

I dont expect an immediate bounce back but thats not for me to call, BTC is so volatile it can sell and come right back at times.   Normal progress would have us recover weekly average incrementally recovery.

  Prior to this sell we have a pattern ascending lows since May start, that might be compromised now.   BTC remains superior to late April BTC price action.  Ideally this sell is a blip and BTC trades back above 69k in the forth coming days.

Are we likely to get a bet setup for the French or the British elections going on.   They poll every adult in those countries so surely thats a big potential audience of bettors, big revenue worth putting the bet on the site I'd guess.

The USA election should be there as that alters the Dollar prospects which in turn is going to alter the Bitcoin price which makes it relevant to all of us here on the outcome.

Just a thought but before that today the RP to Spins picture above, changed from 15 RP to 16 RP as BTC price faulted downwards from its prior trend.   So thats raising the spin base figure, we arent going to get 50 back as a spin outcome I doubt but it could double I figure if we get a buffalo run (alot of scared cattle ).

Its attempted upwards but failed once again moving down harder today.  We stayed above 69k for some time which justified optimism but its failed to move past the prior highs of 72k and speculators will drop out if we stall which seems to be the case.

If we can recover past 68k before end of today take it as volatility otherwise it appears we are no longer positive trending in this near term.   66k is 50 day average and I think we'll not surpass that for that moment.

It will get new highs but just how far and deep is that dip will remain under debate for an extended period of time.  We havent yet cleared that debate and it could go on for months yet.   Im more optimistic when everyone gives up and its really just because their nerves are tested and they got tired of waiting for all the tries to trade up to succeed.

2024 cant be called a consolidation year, its risen alot but the gains are better off being confirmed and tested where and for however long its necessary for the longer term strength of BTC.   Erratic shorter term volume whatever the pricing just doesnt rate as important and it will give way to whatever trend is in play over the bigger time periods such as months, quarters even years.

  Im convinced halvening is something that resolves in its influence over a year or more, we speculate in the short term but actual moves are glacial imo.

That last comment about range bound is below us presently.  BTC has stayed above 69k recently which puts it outside the normal range since March, the implication being without boundaries the price is free to move alot more as per OP topic title.

All the lows of the last couple days have been above 69.1k and back to June 3rd mostly thats been true which puts us on a positive step going forward.   We can still misstep in future but its a good path so far and its true on multiple time frames which helps alot also.

Its impossible for me to say for absolute certain but just now we're ahead of the weekly average.  I want to see this 4hr bar to remain below us going forward for a proper build, so roughly 70k or  69.7k is showing as the low on this 4hr.

 If price keeps building and we're already looking correct in ascending since start of May perhaps something can actually happen more then a repeat more then just range bound pricing back and forth.


Counter scenario to this is a price peak of 72k both in May and recently in June, that too is a price level to watch.  Failing to pass that would be a warning for negative action.

People need to separate gambling from poor handling of money I think.  We could pose the same question about people who shop too much, spend too much money they dont have for items they dont need, its the same deal really.

The underlying cause is growing up to believe you can spend money you dont possess especially on things you dont need.   Do that in any case and you will end up broke, hungry and homeless possibly.   I dont see gambling as the cause of that bad attitude personally, it can be one of the things people spend too much on but its by no means the only misuse of cash which was never available to spend.


One of my best friends dads was a bookmaker, he took bets on horses mostly and gave out fair odds.  Adults choosing to bet on a race is upto them, he was a just normal worker making a living doing work handling that cash doing the books and paying the bills with his earnings.   Everyone has to pay their bills first before they ever spend, it is problem if discipline is not there to do that & its a problem to figure out at that point.

People said in the 1970s we'd run out of various commodities and its not yet occurred.   What tends to happen is the price rises and more difficult production and investment is justified by that higher market price.

We dont know future prices but Copper is likely to continue rising.  It also depends how technology develops, thanks to wireless technology less copper is needed for physical communications links for example.  Thats good as demand is already very high but its fair to say commodities are in a bull market for multiple decades imo.

Silver has good demand from its base elemental properties, some of which are superior to any other metal.   I think its a vital part of solar power so will continue to do well, it is a semi industrial metal compared to gold or more precious metals so its market dynamic is more volatile imo.

I think the estate of a person deceased does have to clear loans and debts owing, so that'd wipe out some or all of the asset worth passing onto family.   Its possible the debts can exceed the capital left in a will or estate which means nothing at all passes on, the children arent liable for the debt they didnt take up.

  Children still lose some or all of the capital that they might have otherwise inherited.   A good Will prepared legally will be able to protect asset worth in a trust and that might survive debts, this requires proper legal work beforehand though.

Funny that my local church always ran gambling of one kind or another but it was purely done as a charity run game with all prizes donated then tickets acting as donations.

In this case I have to wonder where the Archbishops money would be coming from.  Surely if you stand to possibly lose your money gambling it cannot be the churchs money, it is not your money to lose or risk.   Saying I know I will win is a bad example to the congregation, if they do they same they will lose their family their homes maybe.

If the money was his own personal capital to risk and gamble then I cant object especially if he donated all of the winnings.   The casino complaining about going bankrupt sounds like they are close to doing so anyway, if they believe its fraud maybe they are afraid to say so before being able to prove it.

Bears dont get to take advantage easily, this is not a fractional type system like FIAT.   To sell BTC you must first own or aquire BTC and the easiest source of that has been miners from new blocks.

With halvening happening and the previous reductions in block reward we do have the tightening of supply.  That effect only becomes more obvious as the year progresses so this talk of bears having any advantage is opposite to what is underneath the price action in supply and demand.

I do think people are a little bit too impatient also, in terms of time its only really been 6 months or so since we left the 20k prices.   20k was first seen in 2017 allegedly though it was quite brief, so BTC reached back a very long way to check support and prepare for its recovery.  This cycle is going to stretch a bit further and last a bit longer then 6 months imo, it may require alot more patience to see the end but its worth waiting for.

Its a game but the biggest risk taken by a gambler is they think they are owed a win.    I'd bet more after a loss often with the idea of winning back what I just loss, it is that idea of justice being deserved a win after a loss surely follows.

Its not a good line of logic, you arent owed anything exactly but I do think its common to bet until you win.  The idea might be you win and get back everything spent but that wont always be the case.  Also until you win, you havent won the game or played it entirely and people hate to walk away unfinished.

   It has to be said sometimes the smartest thing is to walk away, my reasoning is you should call the day done and return another time.  Not every day will be a winner but there is no perfect strategy imo, just recognize we are playing a game is best.

Borrowing and the concept of interest or loaning to put people into your debt even via commercial banking may be banned in some states which are Islamic.   I didnt immediately find a list but its certainly banned in some places to go into debt or force others to do so in any way.

This even used to apply in christian based countries many years ago but this is history and religion for another day, it does explain quite alot of the modern world imo.

  I will only state in some countries it remains heavily discouraged to use borrowed money for anything, alternatives to this are provided which dont involve debt exactly; or so Ive read its not my place to say precisely.  Its a modern reality in some parts of the world.

Surprisingly good close to this week despite the selloff its clawed its way back some.  This close will be the highest weekly bar ending since the close of March even after the sell on Friday.

This alone is not much but the leading context is a setup for future gains.  We remain above the prior ceiling or range bound action which gives the hope still of reaching far beyond that limited action we've been in since March.