Bitcoin Price Holds Above $9k

[djcaoile1205]

The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.

https://bitcoinist.com/sunday-digest-bitcoin-price-holds-usd-9k-other-headlines/

[1715094536]

1715094536

[1715094536]

1715094536

[1715094536]

1715094536

[hugeblack]

Comparing the return on investment between Bitcoin and Saudi Aramco may not make sense.
That company represents Saudi oil, which is one of the largest assets in the world and the occurrence of problems may affect the energy prices globally, so the likelihood of loss does not appear as much as Bitcoin.
Don't forget that the return on investment from BTC was bad at some point in 2018.

Bitcoin has kept prices above $ 9,000 but has not broken psychological barriers, meaning that any collapse could bring us back to the $ 7,000 levels as we were a few days ago.

BTW move this topic to Speculation

[Artemis3]

The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.

Bitcoin went from zero to whatever price it has when you read this. Companies can have similar performance, perhaps in a different timespan. But the key difference is the time of investment. You say this company is already big, so its probably getting in with an already high price. But when the company is small and unknown, and nobody believes in it, at that point is cheap and those investing that early have the highest potential of profit in the long run. Think Apple in the 70ies, two kids in a garage, they went to a third person that invested big, but quickly withdraw. Boy did he "lost" good. Its like buying bitcoin when it was 3¢ then sell it all when it reached 1$ (100¢), after all its 33 times its value...

Those large companies, say its stock starts at 50$, suppose it goes to 250$, thats 5 times, not bad but not stellar.

Once the company decides to "go public", it might be too late for spectacular gains, you could say its mature. It might get you profit, just don't expect miracles.

I suppose in this case, those that invested at the earliest were probably the Saudi monarchy themselves. That country knows oil won't be such a good business forever, and has already taken steps in diversification, unlike the complete idiots that rule over my country that ran it into misery.

Imagine that you invest in bitcoin now, and it reaches 18k (2x) that's not bad, but its not stellar either. It matured. As always, those that invest earliest (and risked more), have the chance to gain more.

[Getmon]

The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.

https://bitcoinist.com/sunday-digest-bitcoin-price-holds-usd-9k-other-headlines/

Another news article forcing to compare something that is too far different from Bitcoin. What are these online publications doing? Can they not think, analyse, and write something that is relevant? Saudi Aramco offering to sell stocks to the public is not related to Bitcoin in whatever tiny way. This is better posted in politics and society because this step from the powerful oil company has political and economic underpinnings.

[BrewMaster]

i don't really follow these things but isn't this the same oil company that was recently attacked by Syrian drones and was shut down losing 6 million barrels of oil and lost $2 billion? how is it even profitable let alone running an IPO?!!!

in any case it is very strange to compare it with bitcoin. there is nothing in common here. it sounds like the most random comparison of all times. not to mention that bitcoin is a growing currency that is being adopted all around the world. so its growth is naturally higher than anything else.

[Pearls Before Swine]

Oookay.  These news items have nothing to do with bitcoin sticking above $9000, and the news isn't even that interesting anyway.

As suggested, please move this thread to the speculation section or just lock it and let it die, because it doesn't even make much sense.  I'm very happy that bitcoin held onto its gains in the past week, but the fact that some oil company is going public isn't related to that.

i don't really follow these things but isn't this the same oil company that was recently attacked by Syrian drones and was shut down losing 6 million barrels of oil and lost $2 billion? how is it even profitable let alone running an IPO?!!!

It's losing all that money because of a drone strike?  Wow.  That shows you the potential damage governments have the power to inflict. 

[bounceback]

The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.

https://bitcoinist.com/sunday-digest-bitcoin-price-holds-usd-9k-other-headlines/

maybe this makes no sense if you want to compare the income owned by bitcoin investments with oil investments because bitcoin and oil companies are very different, we know bitcoin is a digital currency with limited supply, while their oil wells can be obtained whenever they want and there are still many oil wells in the world that can be taken for sale, unlike bitcoin.

[darkangel11]

And it's going to go higher. If you forgot to buy at 3k you lost a good opportunity.

I doubt the situation we're witnessing depends on the news. It's more of a mix of everything. People were laughing at bakkt but it's obviously growing and getting more money and more users. China may open to BTC and lift its ban, we have some nice bullish TA. A year from now you'll be sitting at 10k saying that 10k was the bottom.

[danherbias07]

No, it should not be compared with that.
The volatility of crypto currencies specially bitcoin is something new.
It cannot be identified since there is no way you can track everything because of privacy. Therefore, no one can have an accurate prediction into where it will go
It can be dumped later or maybe tomorrow and we would not trace where it is from.
Even if a big news come up which may be the possible reason for growth is still being doubt.

[gabbie2010]

The stability of the price of bitcoin around $9K+ was held by the strong support that zone, the price tried to break down that support on several occasions using 4 chart as reference but it was held I think this a pointer or an indication that the bulls are very much in the market however the price of bitcoin is incomparable with oil giant, Saudi Aramco and the company has no link with blockchain thus wouldn't trigger or pump the price of bitcoin.

[bitbunnny]

Currently the price seems to hold level above 9000$. However don't forget that Bitcoin is volatile and that price can change any time in both directions. Some are satisfied with that price and some have bigger expectations until the end of the year.
I don't expect some bigger dumps but still some corrections are still possible so don't be surprised if the price doesn't keep the level you desire.

[exstasie]

https://bitcoinist.com/sunday-digest-bitcoin-price-holds-usd-9k-other-headlines/

In before we dip to the $8,000s.

Closing the week above the $8,800 range high is a very bullish sign mid-term. It suggests weak supply, whereas immediately falling back to the $8,000s or $7,000s would have suggested the opposite.

However until we see a confirmed upside breakout, the possibility of new short-term lows is still there. If we dip from here, I expect desperate bears to support the price at $8,500-$8,800. The daily 50-day and 20-day MAs are there, the 0.618 retracement level, a low volume notch on the VPVR and a gap on the CME futures chart.

[Duzter]

Currently the price seems to hold level above 9000$. However don't forget that Bitcoin is volatile and that price can change any time in both directions. Some are satisfied with that price and some have bigger expectations until the end of the year.
I don't expect some bigger dumps but still some corrections are still possible so don't be surprised if the price doesn't keep the level you desire.

Volatility is much associated with bitcoin as well as other digital currencies. When it comes to the present market price, it is with good momentum for a forward move. We cannot confirm with the forward change in the market, because of its nature. If the momentum gets broken to reach low to $8500, then there is chances of price to reach as low as $5500.

[Wysi]

Currently the price seems to hold level above 9000$. However don't forget that Bitcoin is volatile and that price can change any time in both directions. Some are satisfied with that price and some have bigger expectations until the end of the year.
I don't expect some bigger dumps but still some corrections are still possible so don't be surprised if the price doesn't keep the level you desire.

Yes we can just look back refer to the recent fluctuations which took the bitcoin back to $7400 and again pumped it's value to $10k as the market is too volatile with possibility of further fluctuations before halving but I am don't think there are higher chances of any planned dump before halving as people will not be bothered to panic sell as it's expected and forecasted so I think this time something unexpected may happen. We need to be cautious.

[jossiel]

And it's going to go higher. If you forgot to buy at 3k you lost a good opportunity.

I doubt the situation we're witnessing depends on the news. It's more of a mix of everything. People were laughing at bakkt but it's obviously growing and getting more money and more users. China may open to BTC and lift its ban, we have some nice bullish TA. A year from now you'll be sitting at 10k saying that 10k was the bottom.

They've never see it coming. The very first launching of Bakkt was kind of funny to them because the volume isn't so high but look after few weeks of its operation,  there's an actual growth. As for the people that didn't took the chance to buy the dip on $3k.

It is not late.

I am quite satisfied that the price is kept at this level. I hope bitcoin will be able to hold out as long as possible at this level.

Not just you but also me. I like seeing the price becomes stable to this rate and if it goes up a little bit higher then that's an additional profit but as long as it retains itself to $9k, this is like a safe place.

[liuqi]

Currently the price seems to hold level above 9000$. However don't forget that Bitcoin is volatile and that price can change any time in both directions. Some are satisfied with that price and some have bigger expectations until the end of the year.
I don't expect some bigger dumps but still some corrections are still possible so don't be surprised if the price doesn't keep the level you desire.

9k is not the big value and we may find the best time to make the investment like huge fall in single slip so that time you can invest on those time and expect the growth like double value or something.
Those kind of investment alone make the profit. So think twice and make your investment at right time.

[Wexnident]

Oookay.  These news items have nothing to do with bitcoin sticking above $9000, and the news isn't even that interesting anyway.

Me when i saw the thread title but the post was about saudi and apple lmao. Comparing an oil business to crypto, what kid made this comparison right here. Besides, crypto isn't even a company in the first place, no one manages it.
Natutally, the ROI of btc would exceed these because the current market for BTC is still volatile. Market shares and oil prices for the company said have been already stabilized and have already obtained a general Price in the market.

[CryptoBry]

The world’s most profitable company, today announced that it is going public, in what could be the biggest ever IPO. The oil giant, Saudi Aramco, posted an H1 profit of $46.9bn in 2019, compared to Apple’s $21.6bn in the same period. But one imagines that return on investment will still pale into insignificance compared to Bitcoin.

As of now, we should not be boasting the ROI of Bitcoin like that. In terms of assets and liquidity as well as the prospect of the future, both oil and Bitcoin are two different things. Comparing the two may not be making sense at all. In fact, mentioning the IPO of Saudi Aramco vis-a-vis that of Bitcoin is beyond my logic to think of. Anyway, I am sure I get what you are referring to which is the rate of ROI but then even if one has the highest ROI but the risks can also be too high then it all balances things out. We should not adopt that kind of boasting attitude as if BTC is the only kind of investment that is really working. Investors have a lot of choices and options and many of them are still have to consider Bitcoin for many factors that they deem to be not attractive, at least for now.

[blckhawk]

Although it occassionaly drops to near breaking the $9k, it still holds up and I'm positive that the next bull run will soon happen. I'm not quite sure how that IPO might affect bitcoin. As far as I know, IPOs are for the stock market and is separate from ICOs for cryptocurrencies. If they would also enter the crypto-market, then that could be quite huge. But until now, the price is still struggling to reach an uptrend.

[clickerz]

Although it occassionaly drops to near breaking the $9k, it still holds up and I'm positive that the next bull run will soon happen. I'm not quite sure how that IPO might affect bitcoin. As far as I know, IPOs are for the stock market and is separate from ICOs for cryptocurrencies. If they would also enter the crypto-market, then that could be quite huge. But until now, the price is still struggling to reach an uptrend.

Hope support in $9k will continue to grow and the next battleground will be $14,000. Bakkt is slowly picking up also and some other derivatives in my opinion. Hoping for more financial institutions to follow too push bitcoin price. We need more projects and utilization of bitcoin for a great adoption to happen.