Apart from TA, on-chain analysts suggest this is the bottom as well, such as CryptoQuant, Glassnode and Willy Woo.
We might not have seen the absolute bottom yet, but I bet this price below $50,000 is going to be short lived.
And just to add to all of this good TA... If we take the TA out of the equation and just go by sentiment alone: 1. Average Joe public participation is still low, and overall volume extremely low. 2. Didn't see anything "parabolic" happen with Bitcoin. There was no blow-off top moment. 3. If the Coinbase IPO was the big "sell on the news" moment, then it was the absolute lamest moment in Bitcoin's entire trading history. Everyone knew it was coming months prior. 4. Whale traders in bear markets plan on short/dumping for a least 24-30 months straight after a top (unless we have a double top within the same year). I can't even fathom this happening right now with all the bullish announcements still to come. So I think anyone selling it all rn is going to be woefully out of position and sad over the next 6-12 months. |
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Bitcoin will 100% definitely go below $50,000 again. I've confirmed this multiple times.
Bear troll Proudhon, you win this round.  Confirmed. |
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Do you think billionaires are swimming around in a pool of gold coins or pallets of $100s? Nearly all of the wealth that people are complaining about is on paper. Jeff Bezos owns a bunch of Amazon shares. If you raise the capital gains tax, he'll just never sell those shares. If the capital gains tax was lowered however, he might sell those shares and invest that money in some other endeavor which could create millions of new jobs. I'm betting the guy who created Amazon is a lot smarter than anyone in the government.
Also it would be trivial to game the new cap gain tax law. Do you know how many wealthy U.S. millionaires/billionaires would be running around claiming exactly $999,999 in income on their taxes every year? All of them. Hell, most of the C-Level of the biggest U.S. companies don't even get paid an income, they take stock options as compensation. |
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All this talk about cap gains increasing. Ya'll need to chill.
1. The proposal is a cap gain increase for those making over $1M/year in income. Average Joes unaffected.
...and it doesn't even matter, because...
2. It'll never, ever, ever, ever, ever, ever pass. Won't even make it to the floor. It's all just talk. Why? Because the politicians are beholden to the very elite that this would affect, that's why.
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Isn't that due to Boomers retiring/dying off?
No, actually Boomers and elderly living longer than any previous generation before (due to medical advances to extend life) and continue to work longer than previous generations (e.g., can't retire, no savings, etc.). And the population continues to grow instead of shrink. Another fun fact, male labor participation rate is collapsing in an alarming fashion.  |
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OT: The media blathers on incessantly about "Oh yeah, look, the economy is returning to normal. Jobs are coming back! People are spending again. Prosperity and employment will soon be back to pre-covid levels! Yay!" No. They. Are. Not. Coming. Back. It's all a lie.  |
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Besides, you should be aiming to increase your overall wealth by minimum 10% each year. Then you only need to worry about choosing “his and her” matching colour Lambos... or his/his (Bob)
well, three really: yours, your wifes, and your wifes boyfriend* *all genders to be adjusted to taste of course. And remember this!!! If your partner confesses that they cheated on you, I know the temptation is to ask, “with who?“ But that's inappropriate. Avoid it. Instead ask, “with whom? “ It is important to speak good English. Actually just skip that question and move straight to "GTFO". Saves a lot of time and BS. |
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Okex integrates Lightning Network.OKEx, a world-leading cryptocurrency spot and derivatives exchange, has announced that it has integrated Bitcoin’s Lightning Network, allowing faster and cheaper transactions for users. So transaction fees on OKEx should then drop to zero, yes? |
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Pomp gets it.  |
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A drop since the Coinbase IPO launch, while shitcoins pump. Oh what a surprise.   I swear, you can set a clock to all the bull trap/bear trap games these traders play. I set one of mine in 2013, hasn't missed a second since. |
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Those fkn idiots over there pumping various worthless penny stocks, thinking GME is worth hundreds per share (news flash: it's not), thinking they can squeeze the silver market (news flash: can't be done), throwing good money after bad YOLO style... ...and some of them hate crypto? Like they're so smart and it's beneath them to own it? Oh that's ripe. You can't fix stupid. |
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COIN will close the day at 250$ Fuck fuck fuck Wall Street. So fucking corrupt. I just did the math. Had the public been able to invest directly in Coinbase stock pre-IPO back in 2013 at $0.20/share like the exclusive angel investors, they'd all be up 1250X their investment. Likely much better off than just putting that money into Bitcoin in late 2013. (Although I'm not saying not to buy Bitcoin, that's a no-brainer to own the underlying asset directly). This is why the 1% gets filthy rich on stonks, while the general public gets shut out of the game. |
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So Bitcoin trades off, whilst there be one last big pump into the absolute shittiest of shitcoins...bottom of the barrel.
Hmmm...nice one, bears.
Yeah, we know what you're up to. And it won't work. We've all seen this bear trap movie before.
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I would like to see Bitcoin at $1,000,000 as much as anyone in here, but will be hard to enjoy it while eating a $1000 big mac.
No worries, soon your $1000/week stimmy (*cough* UBI) check from the govt should cover it. That's at least 4 big macs a month for ya. |
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I remember reading a conspiracy about how things we remember from the past are no longer part of this timeline. I tried to look up that conspiracy but I can no longer find it. Did I remember something that was scrubbed? One of them was that nowhere in Forrest Gump does he say "life is like a box of chocolates". But we all remember that.
Wha ? https://youtu.be/CJh59vZ8ccc?t=32 |
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Here’s the link to the original post https://bitcointalk.org/index.php?topic=3742.0It’s interesting to read since it’s from 2011 and in 10 years Bitcoin is already being traded all over the world. But Bitcoin is not going to replace any country’s economy for sure. Bitcoin is a store of value not a type of cash to replace daily transactions like if you buy a coffee you wont be using Bitcoin. That’s why I read many people here on WO said buying a Tesla with Bitcoin today would be same as buying pizza with Bitcoins. When you use Bitcoin to buy Tesla in reality it’s Elon Musk who’s buying Bitcoin with Tesla. Bingo, you nailed it. Look how hard that PayPal, Tesla, and soon other companies are working to now suddenly offer more ways for Average Joe to directly spend their bitcoin? They think bitcoin users desperately want that, because that's what those users dreamed of in the beginning---using bitcoin as a direct currency. But now bitcoin users are becoming wary of spending their bitcoin on "depreciating stuff". Companies want your valuable bitcoin asset, and want to give you "stuff" in return. That's because they know that a) bitcoin is still way undervalued, and b) bitcoin is far more valuable than the "stuff" they're selling you. Plus as a U.S. citizen, I don't even get it. I would still have to pay capital gains tax on my bitcoin, whether I spent it directly on stuff, or sold it first and paid with the fiat. So why bother spending it directly at all? I have a digital fiat account for that. By taxing gains on directly spent bitcoin transactions, the U.S. has made a ginormous mistake...by inadvertently creating more diamond hand hodlers. |
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