I think what scared off most people when we dipped below $40K was the Ftx selling and they didn’t know how much more they would sell and it was also the constant GBTC selling of $500M daily.

Ever since this number declined bitcoins price stopped declining and traded sideways at first and then it started to appreciate.

Now we got almost $500M in positive flows and I expect the $50K area to get tested again this week as long as stock market is booming.

With crypto going against the grain won’t always help you, especially since we are in a bull market. Remember the last 2 cycles. When bitcoin broke $1K there was tons of FOMO and if you sold then you would of missed selling at $20K.

Same with 2021 cycle when we broke $20K, we ended up rallying to $65K and later $69K. Obviously after we peaked, there was still FOMO and would of been good to go against the grain but you wouldn’t know that ahead of time.

I don’t know how it is now but I remember 5 years ago they were very strict.

Even if you used your actual credit card using your real name and address they limited some services at first because there was lots of scams and chargebacks.

After a few good weeks and no missed payments they gave you more control and you could rent more servers.

The reason why he is so popular is because when you are a new investor, you watch his show and think he knows what he is talking about.

It’s gotten to the point where many hedge funds themselves get cautious holding on to positions he is referring to on his shows.

I find that he basically chases price both ways. When something is going up, he talks about it, it peaks usually then because many long term holders start to take profit.

Same with going the opposite direction. He tweeted about bitcoin near the highs, it revered and later near the lows and it reversed again.

Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.

As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.

Most likely you won’t be able to do this. Even if you use an exchange with a low trade min, since you want to withdraw USDT which I am assuming is on the Ethereum network the fees will be more than the trade is worth.

Unless you deposit more funds in the exchange I don’t think you can do much. You can try and trade maybe for doge and that might have a lower withdraw threshold. I know Doge is not what you want but that at least you can self custody instead of leaving it on the exchange.

The numbers are out for Friday and it turns out it was something like $500M net inflows. So almost $1B of inflows in the last 2 days, hence why we touched $48K.

If this trend keeps up we will break the yearly high and head into the lower $50Ks. And I guess if the stock market is rallying also we will get more and more people buying crypto and getting into these etfs.

Right now it’s easy to invest in bitcoin due to these etfs. So into the halving should be a great time.

Yes it’s probably true that if day Blackrock lost its private key or some hacker took the funds bitcoin, then the investor in the fund would most likely just get a cash equivalents like the MtGox or Ftx bankruptcy’s.

However I don’t think they will shut down or lose their Private keys or get hacked. I am sure they have proper custody of those bitcoins. The only way I see an etf shutting down is most likely due to lack of demand for the fund. If GBTC loses all their customers, they will most likely shut down since they can’t compete with the larger etf providers. Why invest with GBTC at a high rate when you can choose a better etf with lower fees.

Banks and credit unions sound the same but they are very different.

Like mentioned above banks are private businesses and their main goal to to generate tons of income for investors. Credit unions are mostly not that competitive and if they make a profit they generally give back to the community or their account holders.

Many people stick with banks because they think they are safer but that isn’t necessary true.

Well the numbers for Thursday came out and they were +$400M for inflows. And most likely the flows for Friday will be large because GBTC was only like -$50M and we had a crazy day hitting $48K. So on Monday when all the ETFs update their AUM we will see how many inflows were made that day.

So far its looking like we might break the $40K, especially if we get almost +$500M daily of inflows. I am sure most people panic sold when we went below $40K or they sold during the ETF launch because they knew it was a sell the news event. The next 2 months should be interesting since the halving is coming up.

If you are buying a token which is so illiquid that a small order can create huge price swings, you are better off not buying that token at all.

Many of these meme tokens which are only listed on dex are usually pump and dumps and they have a short life span. Many got lucky with Shiba Inu or similar but most bought tokens which are -100% loss pretty much.

Be very careful with these tokens.

Generally in an economic downturn the ones with money are the ones that benefit.

Everybody else is pretty much jobless and they will not be investing their money into the sp500 stocks or crypto. Remember when Covid crash happened. Many stocks or crypto suffered maybe -25% losses in a single day. And many people were out buying toilet paper and rice instead of putting large sums of money into the markets.

Only the hedge funds made up ok, everybody else sold their crypto or stocks at a loss out of panic.

Man reading this thread title sure brings back memories.

Basically nobody will use an address if they know someone else has the private key. But there is a way how one party can generate a vanity address for you and the private key will still be in your possession and only your possession.

I forgot the name but there was a company that did this. I think you provided half the key and the other half was private and in some way it was safe to get a 3rd party to generate a key for you.

Yeah this is why these etfs long term will be very bullish. In the past it was very difficult holding Bitcoin and risky. Now you can easily log in to your 401k brokerage and you can buy the BTC etf.

This is why they have so many competing ads on google. These etfs want to get the word out because if someone invests in bitcoin today, they will most likely hold for a decade and supply will become even more scarse.

Yeah I noticed that if the prices stayed the same for certain goods, the portions are almost always smaller. Usually the container is the same but the portions inside are smaller.

I noticed this when I had old boxes of some products I used to buy. The box is the same, but the Grams per box is usually slightly smaller. Very sneaky way of dealing with inflation pretty much. Leave the price the same but put less product on the inside.

Some products are worse becuase they increased prices and also shrunk the box. So you are getting 2 bad deals for the same product as before.

I am too old and probably wouldn’t even be able to do half of these push ups a day. And even if I managed to do 100, I would probably stop after the first day.

It’s a good challenge it will keep you fit, however there should be other ways of celebrating bitcoins price if it tops $100K. I think more important is the security of your crypto. Don’t keep it on an exchange, use cold storage, watch out for scam contracts and extensions.

Imagine bitcoin hitting $100K and you get it stolen due to poor security due to SMS 2fa or some password that was reused.

This is good for the industry because you need to realize that if they are investing millions on mining hardware it means they see a bright future for bitcoin or crypto.

All miners, especially pro miners already have the halving in mind. And they also realize that most likely the hashrate won’t decline which is what happened in the past. So if they are still investing money into the future after the halving date it means they are confident of bitcoin future performance.

Yeah it would be great for the fed or the banks or anyone with debt to get lower interest rates but doing so is risky because inflation might come back.

Look at last months employment numbers, more than double the expected numbers and the average hourly wages went up 0.6% which is double.

Imagine what would happen to inflation if they cut rates right now? We would get double digit inflation in a year or so and interest rates would have to go even higher.

If find that when we are in a bull market and you want it to drop further to buy, usually it never drops further but keeps going higher and higher.

If we are at the end of a bull market or bear market then every dip you see you invest more of your money but it keeps dipping and dipping. And usually it bottoms out a year later when you run out of money pretty much.

So the best decision here is just to DCA because you can’t perfectly time the market.

It’s basically variance. Remeber how we had those 2 hour block times, well this is the opposite. Basically the average is 10 minutes but sometimes blocks can be found in seconds or hours.

I don’t think it implies anything, they are a big pool and it’s normal for them to find this many blocks so quickly. I would be more concerned if all of a sudden a new private miner appeared and started to solve 50% of all daily blocks, and we didn’t know who it was. That would be more of a concern than this.