This is my first post at WO, after my first halving, Thank God for life  Now for the big question When is the dip coming My colleague and I were really excited that we're going to buy the dip but now what we see sadden us while the sudden rise in fee is discouraging though it's getting better probably before the end of the day it will be normal Will be multiple days before the fee is back to normal I think |
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I thought the fees would have come down a bit more by now but let's see how economical it is for these spammers to keep it up. Everytime this has happened before fees have come back down to reasonable levels, I don't think it will be different this time.
What I do know though is that I will not be transacting on the network while this keeps up.
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...
My only complaint re this interesting and eventful evening are the ridiculous fees I've been seeing since Block 840000. Most of them have median fees over 1000 sats/vbyte (data from mempool.space), some well over 2000! Fees are over 1000 for the next three blocks. Median for next one as of now: 1800 ($118.00 for a simple tx).
Looks like it's going to take a while before I can buy some more.
The miners are making some massive gains right now that's for sure. |
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40BTC in fees for 840000; amazing
Yeah that fee spike is nuts! And there is still a large backlog with what looks like a bunch of idiots still putting high fee transactions through, though dropping fast. 840001 - 7.611 BTC 840002 - 10.115 BTC 840003 - 19.193 BTC 840004 - 27.133 BTC So much for the halving, lol. These are the ones failed to squeeze into the block 840000 I suppose. That's what I figure, but there were still some being made after 840000. There are a lot of stupid people out there though. |
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40BTC in fees for 840000; amazing
Yeah that fee spike is nuts! And there is still a large backlog with what looks like a bunch of idiots still putting high fee transactions through, though dropping fast. 840001 - 7.611 BTC 840002 - 10.115 BTC 840003 - 19.193 BTC 840004 - 27.133 BTC So much for the halving, lol. |
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I came across this chart showing the amount of USDT alongside BTC’s price. I’m sure it can’t be this correlated going back much further historically, but it seems to point to a higher BTC price in the immediate future. I know Tether’s USDT printing is a hot button issue to some. My opinion is that it just shows more usd being deposited on exchanges.  Have you got some charts of it over the previous bull/bear cycle? Would be interesting to see how it went there. |
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Bit of movement on the old FX crosses right there. Bitcoin has actually taken it pretty well, so far at least.
Don't know why the CPI was such a shock to be honest.
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Interesting to see yesterdays pump with such low inflows to the ETFs (one of the lowest so far?) at the same time GBTC dumping hard. Although, most of the pump happened in the EU hours.  Since GBTC converted to an ETF they have lost almost 50% of their AUM under management in less than 3 months. They started at 619k and are now at 318k I'm liking those numbers and can't wait till it is at 100%. Another 3 months perhaps? |
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72K  I'm just glad to see the 70s back. The 60s were getting tedious. IMO, with the way the world is right now and it's future direction we should be damn well into the 170s. |
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Positive inflows again, good day for Fidelity. GBTC still selling heavily.  GBTC down below 350k coins held. Loving it. Few more months and they'll be at zero, can't wait. IBIT is less than 100k coins away from them now. 5000 coins sold by GBTC. 900 mined in total. We went up 6% in 24 hours. Mega bullish. Absolutely. At the moment it seems ETFs are outnumbered about 10 to one (according to a chart I saw from willy woo) as far as actual buys/sells go. So supply/demand from the public can easily outweigh anything they do. Not to say they don't have an effect but the overall market is still far more important. |
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Positive inflows again, good day for Fidelity. GBTC still selling heavily. GBTC down below 350k coins held. Loving it. Few more months and they'll be at zero, can't wait. IBIT is less than 100k coins away from them now. |
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For sure, you (UnDerDoG81) seem to be inspired to sell based on emotions and possibly greed rather than logic.
Good luck with that.
Seems he has no clue about how the market works and simply relies on the price movement rather than logics behind it, no doubt most persons come to the bitcoin market only during bull run. Glad, you share insights on this. It is a correct notion to think that most people come to Bitcoin during bull runs and FOMO in and that in fact shows that price movement and emotion are intrinsically linked. Thus you need to do the opposite of the emotive crowd. In which case I'm not so sure UnDerDoG81 has it wrong necessarily. We have seen many cases in which we are waiting on X, now the halving, only for that to turn out to be a big old nothing burger and we just slide down. "Logic" tells us that with the massive ETF inflow and the halving we should see 100K. But it also won't surprise me that we first dump and get to 100K next year instead. Sounds pretty damn reasonable IMO. |
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Record GrayScale outflow on 18 March. Something weird going on there with keeping their fees high. Maybe they are preferring to have an Eth ETF eventually. It would suit them. In all seriousness; it seems that GrayScale is the actual resource for the ETFs that were created. Most likely an inside deal with Blackrock I suspect. Simply not to ramp up the BTC price too much too soon? I think with Wall Street having entered the space more we are also seeing more shenanigans going on. And the irony of course is that crooks like Jamie Dimon said that Bitcoin was mostly used by criminals. Unbelievable!  Watch what they do, not what they say.... My big hope is that the large GBTC outflows continue. I want this sucker down to zero and at the current rate that will be done in just over a month. |
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What the hell is going on with these dumps? An effort by certain forces to keep the price low or just normal selling? Seems kind of orchestrated to me, 2 decent recoveries then smackdowns, I haven't seen that kind of price action for a while. I guess it could just be all the degen future traders. Anyway clearing out the weak hands around the former ATH is probably a good thing.
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It's been a very slow breakout. Not a bad thing as it gives the idiots time to short which then means more fuel for upwards. But, it does still amaze me none the less, I was expecting a bit of a burst through this price point.
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75K soon surely.
ETFs took in a billion worth of coin yesterday. If the same is done today 75k should be a shoe in. |
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That long term holder portion is exaggerated IMO. Half of those coins are GBTC outflows, therefore, not true long term holders selling. |
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Shorts getting a little squeezed
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$2 short of $70k...
FFS, Bitcoin! Give us what we want!
The exchanges are doing their hardest to stop any new ATH, they're acting like rigged banks, but they appear to be losing, new ATH in 5....4.....3..... I reckon Binance is printing a shitload of paper bitcoin to push the prices down, and perhaps offloading their own customers coins. My guess is that Binance will be the next FTX after this run peaks. IMO exchanges want shitcoins to flourish, so they do their best to keep a lid on BTC so as it doesn't attract as much attention. |
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