Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[bitebits]

I was thinking about the following hypothetical the other day:

Let's assume that bitcoin goes to 100-300K (let's say, 200K average) this cycle and somewhere along the line you sell a substantial % to invest in property, luxuries, etc ( whichever you choose).
In 10 years afterwards, bitcoin goes to 5 mil, which means that you only "captured" just 4% of the potential value.

How would you feel about it? I guess, it would also depend on the remainder (that you didn't sell), but still.

Personally, I know that years later, I am not particularly fond of my decisions to sell AMZN, AAPL and TSLA early, even though I made very nice gains on them.
Sometimes, I consider these occurancies as my investment follies, but, again, you cannot be 100% efficient.

Of course, it is possible to NEVER sell btc and, basically, put this decision on the shoulders of descendants, but you cannot guarantee that they would be wise about it, right?
At least, I can't.

At some point, I would have to start to spend btc and this point is coming relatively soon.
Alas, to spend even a relatively small amount of btc on things like kitchen remodeling causes a bit of mixed feelings on my part as I contemplate the scenarios described above.
That could be one expensive kitchen 5-10 years down the road.
Withdrawals from IRA are taxable and I put all my stables back into the market during 2023.
I would probably do a mix of "things", but don't want to take on HELOC or anything like this.
Decisions, decisions...

Borrow against your bitcoin, no capital gains tax either. That is how rich people do it I am reading. Now I would not trust some random new startup to facilitate this but fine against IBIT in your brokerage account.

sounds like a not-your-keys-not-your-coins situation to me...

What, you selling your corn including covering for CGT?

[1714466689]

1714466689

[1714466689]

1714466689

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

[somac.]

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.

[BobLawblaw]

https://www.newsbtc.com/news/bitcoin/drivers-bitcoin-price-crash/

Here Are The Drivers Behind The Bitcoin Price Crash To $68,000

Scott Matherson by Scott Matherson  April 10, 2024 in Bitcoin Reading Time: 3 mins read

Bitcoin has again experienced a price decline since briefly climbing above the $72,000 mark on April 8. This price dip is believed to be due to a couple of factors, which no doubt present a bearish outlook for the flagship crypto.

Inflation Data Expected To Come In Hot
The March Consumer Price Index (CPI) data is scheduled to be released on April 10. Some market experts predict that the report will show a rise in overall inflation. This could lead to the Federal Reserve taking a hawkish stance on interest rates, negatively impacting Bitcoin’s price and the broader crypto market.

This would explain why Bitcoin’s price has declined lately, as crypto investors remain on the sidelines ahead of the CPI report. However, if the inflation figures come in favorable, this could restore investors’ confidence in the economic situation and provide a much-needed bullish outlook for the crypto market.

Also, considering that January and February’s inflation data exceeded expectations, it is necessary to highlight what last month’s data exceeding expectations could mean in the long term. So far, the Fed has continued to hold interest rates steady at about 5.3%, and there was even optimism at the beginning of the year that there could be rate cuts at some point this year.

However, with inflation continuing to stay well above the Central Bank’s target of 2%, there is a growing feeling that they might be forced to take drastic measures at some point. That is ultimately not good for Bitcoin’s price, especially since different crypto analysts gave bullish predictions partly based on their assumption that there would be several rate cuts this year.

Spot Bitcoin ETFs Are Back In The Red
The Spot Bitcoin ETFs have also contributed to Bitcoin’s recent decline. These investment funds experienced a net outflow on April 8 and 9, leading to a significant Bitcoin dump on the market. Specifically, these outflows came from the Grayscale Bitcoin Trust (GBTC), which recorded an outflow of $303.3 million and $154.9 million on April 8 and 9, respectively.

Meanwhile, the other Spot Bitcoin ETFs have not recorded impressive inflows during this period, which shows their demand has slowed. For context, 6 out of the 10 Spot Bitcoin ETFs (excluding GBTC) recorded zero inflows on April 9, while 5 out of 10 recorded zero inflows on April 8. BlackRock’s iShares Bitcoin Trust (IBIT) also recorded a relatively low inflow of $21.3 million that day.

At the time of writing, Bitcoin is trading at around $69,300, down over 2% in the last 24 hours, according to data from CoinMarketCap.

[philipma1957]

https://www.newsbtc.com/news/bitcoin/drivers-bitcoin-price-crash/

Here Are The Drivers Behind The Bitcoin Price Crash To $68,000

Scott Matherson by Scott Matherson  April 10, 2024 in Bitcoin Reading Time: 3 mins read

Bitcoin has again experienced a price decline since briefly climbing above the $72,000 mark on April 8. This price dip is believed to be due to a couple of factors, which no doubt present a bearish outlook for the flagship crypto.

Inflation Data Expected To Come In Hot
The March Consumer Price Index (CPI) data is scheduled to be released on April 10. Some market experts predict that the report will show a rise in overall inflation. This could lead to the Federal Reserve taking a hawkish stance on interest rates, negatively impacting Bitcoin’s price and the broader crypto market.

This would explain why Bitcoin’s price has declined lately, as crypto investors remain on the sidelines ahead of the CPI report. However, if the inflation figures come in favorable, this could restore investors’ confidence in the economic situation and provide a much-needed bullish outlook for the crypto market.

Also, considering that January and February’s inflation data exceeded expectations, it is necessary to highlight what last month’s data exceeding expectations could mean in the long term. So far, the Fed has continued to hold interest rates steady at about 5.3%, and there was even optimism at the beginning of the year that there could be rate cuts at some point this year.

However, with inflation continuing to stay well above the Central Bank’s target of 2%, there is a growing feeling that they might be forced to take drastic measures at some point. That is ultimately not good for Bitcoin’s price, especially since different crypto analysts gave bullish predictions partly based on their assumption that there would be several rate cuts this year.

Spot Bitcoin ETFs Are Back In The Red
The Spot Bitcoin ETFs have also contributed to Bitcoin’s recent decline. These investment funds experienced a net outflow on April 8 and 9, leading to a significant Bitcoin dump on the market. Specifically, these outflows came from the Grayscale Bitcoin Trust (GBTC), which recorded an outflow of $303.3 million and $154.9 million on April 8 and 9, respectively.

Meanwhile, the other Spot Bitcoin ETFs have not recorded impressive inflows during this period, which shows their demand has slowed. For context, 6 out of the 10 Spot Bitcoin ETFs (excluding GBTC) recorded zero inflows on April 9, while 5 out of 10 recorded zero inflows on April 8. BlackRock’s iShares Bitcoin Trust (IBIT) also recorded a relatively low inflow of $21.3 million that day.

At the time of writing, Bitcoin is trading at around $69,300, down over 2% in the last 24 hours, according to data from CoinMarketCap.

good read

my buddy is a 77 year old retired banker. he was telling me exactly what you posted above. ⬆️

my gut tells me rates go up or flat next time.

my gut tells me they want the crash and burn the market.

why so trump wins and the USA goes extremely right wing.



I look at the left and the right as hulk hogan and the undertaker from wrestling.  a big show designed to take your money.


another example would the rock.  a good is now a bad guy. either way you pay $$ to him.

i think the rally to 100 💯 k will be postponed.

[El duderino_]

Despite a good sun
Keep disliking the red on my screen

#HodlTheHalvingIsNear

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitebits]

Lol at the headlines. Inflation is .1% above expectations.
And when you sell bitcoin because inflation is higher, you really don't get it.

[philipma1957]

Lol at the headlines. Inflation is .1% above expectations.
And when you sell bitcoin because inflation is higher, you really don't get it.

yep it looks like I will be getting some cheap corn today or tomorrow.

[BobLawblaw]

#random

Oh! If you guys are looking for a new PC/PS5 game to play, I'm totally addicted to Helldivers 2. What an incredible team-based game wow!

One of the best team-play shooters I've played since Counterstrike.

The violence and destruction is gratuitous!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

Lol at the headlines. Inflation is .1% above expectations.
And when you sell bitcoin because inflation is higher, you really don't get it.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[criptoevangelista]

Well, clearly it WILL happen.  


https://www.reuters.com/technology/grayscale-ceo-sees-bitcoin-etf-outflows-reaching-equilibrium-2024-04-10/

Outflows from the Grayscale Bitcoin Trust (GBTC.P), may be reaching an equilibrium after months of investor selling,
Michael Sonnenshein, CEO of crypto asset manager Grayscale Investments, told Reuters on the latest episode of Inside ETFs.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[LFC_Bitcoin]

Vivek4real_
US #Bitcoin ETFs took the price from $45K to 70K. That's an 80% increase within just 3 months.

Expect a similar outcome from 🇨🇳 Asia approving #Bitcoin ETFs next week, along with halving.

Are you mentally prepared for $100K?


https://x.com/vivek4real_/status/1778050635239166060


My body is ready.

[LoyceV]

The Bitcoin Price Crash To $68,000

LOL

[LFC_Bitcoin]

The Bitcoin Price Crash To $68,000

LOL

Oh no, buying at $150 per coin was such a mistake.

Pls ser, muh familia.

[bitcoinPsycho]

Good ol bitcoin