Gloom Boom Doom thread

[bbc.reporter]

It appears that after this announcement from Goldman Sachs, the gloom and doom might begin to disappear and there will be an opportunity for the boom that will certainly cause a pump on the market hehehe. However, we should certainly wish that this Kamala Harris will not continue the anticrypto campaign of the Biden administration because it is speculated that Harris might continue this after hiring the participants of Operation Chokepoint 2.0 in her team.



Goldman Sachs Group economists lowered the probability of a US recession in the next year to 20 per cent from 25 per cent, citing last week’s retail sales and jobless claims data.

If the August jobs report set for release on Sept 6 “looks reasonably good, we would probably cut our recession probability back to 15 per cent, where it stood for almost a year” before a revision on Aug 2, said the Goldman economists led by Mr Jan Hatzius in a report to clients on Aug 17.

A flurry of data showing US economic resilience drove stocks to their best week in 2024, with dip buyers stepping in after a recent rout. The value of retail sales increased in July by the most since early 2023. Separate government figures showed the fewest applications for unemployment benefits last week since early July.

Read in full https://www.straitstimes.com/business/goldman-cuts-us-recession-risk-following-retail-sales-jobs-data

[aoluain]

I recon we are about 10 to 12 months too early to be calling Gloom and Doom,
before that we should have Boom!

Bitcoin moves forward like its powered by TNT not any normal fuel.   Thats my impression since 2017 when the Chinese government banned Bitcoin and the price fell massively, not the greatest surprise but the truly amazing thing was how it came back from that not just a little but explosively.   Upto the end of 2017 was more then a little surprising in all its twists and turns, a year earlier I had sold some BTC for well under 1k


We're nowhere near those prices and probably wont ever be again but I have to learn the lessons of just how volatile BTC can be, or I'll just repeat my mistakes but I hope not.

Without checking and from what I remember we topped out at $19k in 2017
or early January - cant remember. There was definitely profit taking after that
and it might happen again next year - thats the doom and gloom.

It appears that after this announcement from Goldman Sachs, the gloom and doom might begin to disappear and there will be an opportunity for the boom that will certainly cause a pump on the market hehehe. However, we should certainly wish that this Kamala Harris will not continue the anticrypto campaign of the Biden administration because it is speculated that Harris might continue this after hiring the participants of Operation Chokepoint 2.0 in her team.



Goldman Sachs Group economists lowered the probability of a US recession in the next year to 20 per cent from 25 per cent, citing last week’s retail sales and jobless claims data.

If the August jobs report set for release on Sept 6 “looks reasonably good, we would probably cut our recession probability back to 15 per cent, where it stood for almost a year” before a revision on Aug 2, said the Goldman economists led by Mr Jan Hatzius in a report to clients on Aug 17.

A flurry of data showing US economic resilience drove stocks to their best week in 2024, with dip buyers stepping in after a recent rout. The value of retail sales increased in July by the most since early 2023. Separate government figures showed the fewest applications for unemployment benefits last week since early July.

Read in full https://www.straitstimes.com/business/goldman-cuts-us-recession-risk-following-retail-sales-jobs-data

Yes recession sentiment can have a lot of influence and Bitcoin hasnt to date been
in a recession period or global recession.

Its funny also how arguably the global markets are more than likely waiting
with baited breath on these US Jobs report!

[bbc.reporter]

News update! According to Matthew Sigel of the investment company VanEck, he speculates that all of the big dumping of bitcoin on everyone's faces has ended. He has also speculates that the recovery might be 1-3 months and they are buyers during this recovery period. This is certainly a boom news hehehehehehe.

https://m.youtube.com/watch?v=oglmmhpughg&si=gaQMaduDe7DVoGgc

[doomloop]

we are in the bull run so we shouldn't have this kind of gloom and doom although we might see from time to time price going in a correction and then maybe we are nervous to see as we are expecting a bull run.

Probably in the next year, we might all forgotten about it as the price might go up to $100,000. And it could be that this correction is just a precursor of what will be the market is. So from some $50,000->$150,000. But just good to see this kind of thread, not that it's negative, but something to look and then connecting the dots looking backwards.

No, I don't think we are at it because why is the price of Bitcoin which is the main driver of the bull run is still the same stuck in 60k dollars? It's like this value is already the norm for it. And if you are not aware yet, our last bull run was at 69k dollars, while the recent bull run which had occurred earlier this year is at 73k dollars (if I'm not mistaken). If let say we are in the bull run, that could count as as a boom but it is also possible for us to experience a gloom and that is when the bull run has already subsided.

The only one that is not possible would be the doom because it could mean that there is no more chance for us to see a recovery again. A correction won't be possible if without an increase in the price first or a bull run but before it occurs, we can expect a down movement. We shouldn't be nervous about it though.

In investing, we also need a courage so that we can continue what we already have started and also it would be better if we forgot a bad memory because it can only make us depressed. As far as I know, a correction is only a slight decline in the price but it was the dip or the bear market and how hard they are, are the ones that we can say that can act as a ' precursor '.

[OgNasty]

Sure seems like the gloom is running out. I’m so bullish now that most of the one time selling events are over, I get worried. Then I’ll come across a normie who trash talks Bitcoin and I feel a little better that there is still plenty of room to run. I just wonder where all the capital for the next bubble will come from. We’ll find out soon enough I guess.

[philipma1957]

Sure seems like the gloom is running out. I’m so bullish now that most of the one time selling events are over, I get worried. Then I’ll come across a normie who trash talks Bitcoin and I feel a little better that there is still plenty of room to run. I just wonder where all the capital for the next bubble will come from. We’ll find out soon enough I guess.

fed is cutting rates in sept.  so printer goes brrrrr.


but this is a doom thread.

so Putin nukes Ukraine due to Ukraine’s counter attack into russia 🇷🇺.

worldwide super sized market crashes.

[bbc.reporter]

Sure seems like the gloom is running out. I’m so bullish now that most of the one time selling events are over, I get worried. Then I’ll come across a normie who trash talks Bitcoin and I feel a little better that there is still plenty of room to run. I just wonder where all the capital for the next bubble will come from. We’ll find out soon enough I guess.

I very much agree. However, it also very much appears that there are many people in this community who remain to be not very bullish hehehe. Bitcoin is not very far from all time high and the cutting of rates has not yet begun.

@philipma1957. This is not only a thread for the gloom and the doom. There is also a boom mentioned in the title unless @STT implies that the boom is an explosion that will begin the doom heheheheh.

[bbc.reporter]

There is another boom news published.

Michael Saylor has again bought bitcoin! Is everyone beginning to become more boomish? Many good news are happening in the cryptospace. On September 29, CZ will be released. This might also cause another pump which would certainly increase bitcoin's price to more than $65k.

Another is Sam's appeal which might shorten his sentence to less than 10 years in prison. This might be good news for some executives in the cryptospace, I reckon.



Michael Saylor's MicroStrategy Purchased 18.3K More Bitcoins for $1.1B

The firms holdings have risen to 244,8000 bitcoins worth about $14 billion at current prices.

The new purchases was made at an average price of $60,408 per token, Executive Chairman Michael Saylor said in an X post on Friday morning, boosting the company's holdings to 244,800 BTC. MicroStrategy's cost basis for those holdings is $9.45 billion, or an average price of $38,585 per bitcoin. At the current price just under $58,000 the stack is now worth about $14 billion.

Source https://www.coindesk.com/markets/2024/09/13/michael-saylors-microstrategy-purchased-183k-more-bitcoins-for-11b/

[bbc.reporter]

This is another boom news!

I am not quite certain why this thread is very much silent? Is this because everyone expecting only the gloom and doom without the boom hehehehhe.

However, on this type of market movements, presently this appears to only to be waiting before the pump. This will occur after CZ is releases from prison. We can very much be certain of this. We bring the boom!



Nasdaq-listed bitcoin development firm MicroStrategy (MSTR) announced Monday that it intends to offer $700 million aggregate principal amount of convertible senior notes due 2028.

The company plans to use the proceeds of the offering to redeem $500 million worth of senior secured notes with 6.125% annual yield maturing in 2028, the press release said. It will use the rest of the proceeds to purchase more bitcoin (BTC) and for general corporate uses.

Read in full https://www.coindesk.com/business/2024/09/16/michael-saylors-microstrategy-plans-another-700m-convertible-note-issuance/

[el kaka22]

Definitely a good news, it's more money going into bitcoin and we could be very happy about it. But at the same time I think it's quite obvious that just a few hundred million dollars worth of bitcoin purchase may not make everyone super happy about it. I get that it may feel like it's a big deal but the reality is that it's not a big deal at all and we can't really consider this as a great situation all that easily.

I am not saying that it's a big result or a bad result, it's just that a few hundred million dollars is normal and doesn't really interest us all that much. I am guessing it's about 200 million? They will sell 700 and use 500 for notes and that means 200 would be for bitcoin? That means we can't really consider 200 million dollars as something that quite commonly happy thing. Of course it's not a bad thing neither, it's a good thing and it's better than nothing else, it's definitely something to be happy about and we can't really be too bad for us, we can be happy but not too much.

[bbc.reporter]

@el kaka22. Also, if everyone has forgotten, El Salvador has never stopped buying bitcoin hehehe. I admit that I have also forgotten about this, however, Arkham shared something in social media that reminded me. They are always monitoring Bukele's wallet heheh!

In any case, I propose that the title of the thread should be changed to Zoom Boom Bull Thread. It certainly can be changed to Gloom Doom Bear Thread if the bear market has arrived.



REMINDER: El Salvador is buying

El Salvador holds $359.58M in BTC and they’re still buying - EVERY DAY

The government under
@nayibbukele
 has been purchasing 1 BTC every day since late 2022, and has been recording purchases directly on-chain since March this year.

Source https://x.com/arkhamintel/status/1836432863522361687?s=12&t=fx2RmsbaS0qNJTJTdpNu2w

[martinex]

REMINDER: El Salvador is buying

El Salvador holds $359.58M in BTC and they’re still buying - EVERY DAY

Yes. I see some positive comments on what the El Salvador government is doing which is still buying until today and some netizen comments on twitter say "The DCA KING"..but, that's true.

Source https://x.com/arkhamintel/status/1836432863522361687?s=12&t=fx2RmsbaS0qNJTJTdpNu2w

Salute, to the country of El Salvador.