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There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin. They will do this for many different reasons. The vast majority of these people will not be rich. Most will be poor.
But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before. They can do this just by gobbling up supply.
That's what the rich have done with real estate, PMs, stocks, etc.
So take heed, people. Why wait? You need to be selling bitcoin back to them at 20X.
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What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.
Yep, happened with every U.S. Marshall auction too. But this time it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds). And perhaps much of it won't be just a short term trade, but more long term investment? |
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The reason for press lockdown precautions is so no-one can be accused of insider-trading, front-running, or etc after the fact ... what we can take from this is someone knows something. I sense they are getting it ready for a huge run up, and then probably a savage dump to make all the unsophisticated noobs who buy a ticket for a crazy BTC ETF ride crap themselves and swear off bitcoin for life ... don't think for one minute they are tooling up to help bitcoin, if an ETF is approved they will be well-prepped to rip it around for their best advantage. This WSJ article smells a lot like a fishy heads up ...
Totally agree with everything you said, especially the someone knows something. I've been suspecting the same, I mean look at all the indicators... price rise, China ending margin trading and zero fees, an ETF suddenly files in the same year that another ETF might get approval. Also the very same year that the equities market might see a major correction.... hmmm.... Let's say that $300M of hedge fund money comes flooding in the ETF door in the first six months, and then another $200M on top of that in pure speculation. Gah, the price would go to the moon overnight. But I agree that in the long run that ETFs are really no good for bitcoin overall. It would eventually turn into what happened to PMs... naked shorting and other manipulation in order to suppress price, ETF funds without the proper transparency for auditing, etc. |
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Another test of the high 900s, then I believe we'll leave the triple digits for good this time.
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MattD if you are out of the Bitcoin market, then why do you care? Oh wait... closed your short yet?  |
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Notice how whenever the bitcoin price slows down and settles in for a while, suddenly some FUD magically appears on the /bitcoin Reddit page and gets spammed everywhere? Yeah, seen that over, and over, and over, and...  Guess what the FUD dujour is today? |
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i am not a techie. no IT guy at all. i came across bitcoin by means of a historic perspective. what strikes me most is the blatant ignorance of most of the IT guys that i talk about bitcoin. they always laugh. i mean those guys are professionals, the make their income because they figured out that digitization is a mega trend, but they refuse to see the elegance of bitcoin. how can this be?
They do see it. That laugh is a nervous one, that covers up a little bit of anger, and feelings of 'missing out'. I've been involved for around 18th months and managed to accumulate some BTC - but even I feel like I missed out from the early days - was fully aware of BTC but took a long time to take the plunge - wish I'd got in earlier - but glad that I did. The irony is that the idea of 'missing out' on bitcoin is those IT guys showing even more ignorance. They also 'missed out' when bitcoin hit a $200 low in 2015, but still chose to do nothing. They will 'miss out' again when bitcoin doubles or triples from here. Missing out on buying a tiny bit of bitcoin and then overnight becoming rich? Sure, yes... definitely. Missing out on making a major or ongoing investment in bitcoin, and still one day become rich? Maybe, or it just might take longer than their shortsighted timeframe of 1 year. More like a decade or two. (pro tip: quit dumping all that money every year into your pitiful 401k, put it directly into bitcoin instead) Missing out on using bitcoin as a global, universal payment method? Never Missing out on using bitcoin as a long term store of value? Never Missing out on using bitcoin as a hedge against inflation? Never |
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Back above $1K, and not a single Average Joe around me knows anything more about Bitcoin/blockchain than they did in 2013, or even seems to care. This is amazing.
Now I know why they call them "late adopters". I don't blame the really old, the really young or the unborn. I blame the older, middle-aged folks who have money to invest, but are just too plain ignorant or scared to see the financial change tsunami that is coming. By the time they finally look up, Bitcoin will be well north of $10K.
I remember my grandmother still writing physical checks for everything, 7-8 years after the rest of society had moved on to using the debit card. She finally used one a few years before she died, and I remember the look on her face.... she was blown away at the speed and convenience. Priceless.
I remember me getting on dial-up on the PC in my bedroom, when my parents though I was in there "hacking" ala War Games style. They thought the internet was and always would be just a toy for nerds.
I remember carrying around a clunky Treo smartphone (which was actually smaller than your average smartphone today), when literally *everyone* had crappy flip phones and thought that smartphones were only for nerds. Especially the women, lol.
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If you weren't rich at $980, then doubtful you will be at $1K. Seriously though, reaching $1K again this early is a surprise to me. Though I'm not sure it'll hold, but feel confident we'll find a $1K support floor by March. |
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As someone who has been following the markets for 3 years and is now making a living off them, let me tell you disasters have a way of not happening, and it's certainly not gonna happen in at least 1 year. Corporate credit is perfect and the Trump rally is only one chapter of the bull market that started around one year ago.
Total, complete, and utter bullshit. That's what Wallstreet and the media want Average Joe retail investor to believe. If the Fed begins to raise rates, a market correction will happen within a year, 18 months at the longest. The only thing that could possibly temper a major market correction is if interest rates are kept inordinately low until Trumps corporate tax cuts and punitive trade tariffs have enough time to actually kick in and inact drastic domestic business changes... but that would take at least 18-24 months to take effect, provided they were inacted right now, tomorrow at the latest. |
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does anyone think FOMC meeting today will affect the bitcoin price after decision? if i recall, every time federal reserve keeps the federal funds rate the same, hold will shoot up, and US dollar index will go down. As The Fed continues to prop up our fake economy with artificial interest rates and skewed inflation, and bitcoin seems like gold 2.0, wouldn't it make sense for btc to price to shoot up after meeting? https://www.youtube.com/watch?v=Ga3maNZ0x0w im gonna watch it live here to see what happens, but i predict Federal Reserve will keep its main rate on hold at 0.50-0.75%.  CME group shows probability at 96% of the federal funds rate staying the same, so it could already be priced in. As long as the Fed keeps rates unchanged, the fake stock market will continue to hit new highs despite all the negative/falling economic indicators to the contrary. Once they begin to raise rates, the house of cards in the market will start to crumble. It really is like 2008 all over again. |
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Bitcoin Domination
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So how long until PBOC tries to squash this rally too? |
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r0ach's purpose here is to constantly bash bitcoin and shill for Gold instead. And yet for someone that seems to abhor bitcoin, he continues to spend an inordinate amount of time on this sub. Much like MattTheCat. And like JStofli used to. Go figure. |
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Mass adoption of a singular cryptocurrency (Bitcoin?) will be achieved when all or most of the following happens:
1) A single, unified cryptocurrency is collectively recognized on a worldwide scale by the majority of merchants, vendors, and users as a form of payment for products, services, and local currency exchange (if needed)
2) Marketcap inflates and scales to some fairly stable level with much lower volatility.
3) Inflation rate falls below 1%
4) Highly-decentralized proliferation of mining and nodes worldwide achieved through breakthroughs in inexpensive, low-power mining equipment (e.g., I imagine a future world where a small mining chip is in every household router, business routers, etc.)
5) Onramps from local currency --> cryptocurrency EVERWHERE, INEXPENSIVE (< 1% conversion), and FAST
6) Faster to make a small payment with the cryptocurrency than with traditional fiat/card (like almost instantaneous with offchain transaction, using nothing but a cell phone or dedicated device, etc.)
Achievable? I think so, and many other people do as well. Many of these things are already in the works, others will just take time to breakthrough.
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