HOW LOW WILL BITCOIN GO IN THIS CRYPTO WINTER?? (Cast your vote in the poll)

[A62662]

Will Michael Saylor's company be liquidated?? How will that impact the price of BTC??

If Michael Saylor's company pumped much of BTC's rise, what will happen if he is taken out??

Is this it for Bitcoin, or will it stage a later comeback??

I don't have all the answers, maybe the collective wisdom of the forum here does. So please share your thoughts with the rest of us.

[1714821518]

1714821518

[tomahawk9]

for those who don't know,

"Michael Saylor is the CEO of business analytics software firm MicroStrategy." Source: https://www.forbes.com/profile/michael-saylor/

and in case some people are not aware of the recent MicroStrategy fud going around, here's a short twitter thread explaining what is going on https://twitter.com/nshsieh/status/1536820890977050627

[jackg]

I'm not sure where I found it last time but I don't think they're that exposed to crypto as a company. They seemed to have about a 25% stake in crypto when I last looked at their asset filing. They had a larger stake in data mining infrastructure which might've appreciated in value itself too.

[Wilhelm]

Voted sub-1k because I want the weak hands gone ASAP.

[OgNasty]

I don't think it's out of the question for Bitcoin to revisit the long term trend line, which is now just below $10,000.  It was clear after the double top that the pump was over for this cycle.  If I were to pick an absolute peak moment where you should have sold, it was when Samson Mow and Michael Saylor were in the news saying that Bitcoin was going to go up forever.  I knew I should have sold every last satoshi after seeing that interview...  Hindsight...  Just keep an eye on the talking heads.  Blockstream still thinks we're going to see above $100K this year, so I'd wait until they throw in the towel and start casting blame for why we're dragging new cycle lows before selling your possessions for BTC.

[Saint-loup]

Bitcoin is a highly volatile and risky asset. It has been frantically pumped since one year and a half now, but we shouldn't forget it was worth less than $5000 in march 2020. Then its limit is only the ground and it could be very low. Only real adoption and real use by humans for tangible things will give it a stable value, but despite recent moves by some countries, there is still a long way to go. Anyway I'm sure Bitcoin will rise again from its ashes.

[Beyerd17]

I think this is the last stop for bitcoin. Dont think it will ever reach a new ath. Problem is everyone is tapped out. And once burned, twice shy.

At first it was the early tech crowd. They had it easy. They bought BTC for 10C, $1, $10, $50 and maybe a $100 at the most. Then there were the people cpu mining it and then gpu mining it, they got BTC almost basically for free.
Then there were the guys that got suckered in buying it at $20k - $60K range. They will never get their money back. Tough luck. They will remind others that it is simply a pump and dump at best, and a ponzi at worst.

I voted $3k, and thats me being generous. I think it might go even lower than that. It was at that level just some 2 years ago.

[OgNasty]

I think this is the last stop for bitcoin. Dont think it will ever reach a new ath. Problem is everyone is tapped out. And once burned, twice shy.

At first it was the early tech crowd. They had it easy. They bought BTC for 10C, $1, $10, $50 and maybe a $100 at the most. Then there were the people cpu mining it and then gpu mining it, they got BTC almost basically for free.
Then there were the guys that got suckered in buying it at $20k - $60K range. They will never get their money back. Tough luck. They will remind others that it is simply a pump and dump at best, and a ponzi at worst.

I voted $3k, and thats me being generous. I think it might go even lower than that. It was at that level just some 2 years ago.

It’ll go back up man… Wall Street is pumping it. They’re just making sure that it’s the rich who stay rich, which means absolutely destroying anyone who tries to cut the line and play with leverage. That’s all that is happening. Once they’ve bankrupted all the companies using leverage and bought as much BTC as they think they’ll be able to charge management fees for, the next pump will begin. It’s really not a complicated game they’re playing. They play the same game with our economy and stocks, but with Bitcoin it’s every 4 years instead of every 15. I think the true all time high pump won’t be in until the Saudis start cashing out, and it looks like they’ve just started accumulating.