Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
Guys, if history is any indication, this is the skyrocketing part! Pack your bags and let's go!
Historically, after reaching an all-time high, bitcoin doubles in just a few days. Meaning, it will reach $140,000 in a couple weeks.
cryptonews.net
Historically, after reaching an all-time high, bitcoin doubles in just a few days. Meaning, it will reach $140,000 in a couple weeks.
Bitcoin’s Price May Double To $138k This Month, History Suggests
Source: Dalle-3 Bitcoin (BTC) is following a years-long bull trend which, if it continues, could see the coin double in price within the next few weeks alone, according to one analyst.
cryptonews.net
it's basically the same in the stock market ...movements are based on a weighted average , so people with more money
the whales are the institutional investors like sovereign wealth funds and big pension funds etc
That's probably the 3rd time within a week this has happened. I was watching on ByBit exchange at the time and BTC green wicked all the way up to $ 70,300 ( I'm sure those are small retail buys at "the market" ) and within 1 hour it red wicked all the way down to about $ 66,200, Yikes ! I would cut off my left gonad to be within that same circle of whales who can pulls these whipsaws off.
They control billions of dollars worth of Bitcoin. The violent swing we saw was most likely caused by manipulation by the whales.That's probably the 3rd time within a week this has happened. I was watching on ByBit exchange at the time and BTC green wicked all the way up to $ 70,300 ( I'm sure those are small retail buys at "the market" ) and within 1 hour it red wicked all the way down to about $ 66,200, Yikes ! I would cut off my left gonad to be within that same circle of whales who can pulls these whipsaws off.
On Tuesday afternoon ( 2:00pm EST ) I watched my BTC position red wick with huge sell volumes all the way down to about $ 59,100. Who do you think is buying up all that cheap Bitcoin on the dip (every time ?) ? Michael Saylor and Raoul Paul ?
Whenever I witness a crypto flash crash, I always picture this scene :
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Everytime it gets past the previous ATH, people who have been stuck with Bitcoin they can't sell dump them.
BlackRock’s Bitcoin ETF Added a Record 12.6K BTC in Tuesday's Carnage
IBIT’s total inflows surpassed the $9 billion mark on Tuesday and show no signs of easing nearly two months after going live.
surely the worlds largest asset manager is aggressively buying to lose
Okay, this is my updated prediction, and what I'm going to do. I realized I made some errors in my last prediction.
1)March 10-early April: For the next three or so weeks, Bitcoin will continue to slowly rise before halving, maybe even make some big moves, inching towards 100k.
2)The halving will be in April, and in anticpation, Bitcoin will steadily increase its pace of gains
3)The media will begin to hype up the fact Bitcoin keeps reaching new Milestones. Demand for ETFs soar just like lottery tickets during powerball. Bitcoin will start rocketing towards 100k.
5)Early April:In about three weeks, and on the way up to the 100k mark, there will be a 10-25% correction caused either by manipulation to spook investors or investors taking profit, and drive down the price
6)After the correction, around early to mid April (before the halving date) it will continue to go up to 120-180,000. Then the whales will dump to take profit, kill off investors, and drive down the price.
7)Mid April to May (probably before the halvind date of April 20)The price will plummmet to around 50% of the peak, so roughly 60-90k.
8)Mid/Late April to Late May/June: Whales will buy back in and prices will recover, until a new high is reached, forming a double top like the last cycle.
It's impossible to say how it would go, but we can probably see a peak of 150k-250k. It will be fueld by new investors fomoing in, the halving date which will happen after the crash, and the Fed's decision to cut rates, supplying fresh money into the system.
9)Sometime in late summer/early fall: The price will begin to crash drastically, eventually to 50-75k, and the cycle will finish.
My strategy is a quick, get in, get out strategy.
1)Hold until Bitcoin reaches 130k or more until early April
2)When the smaller correction comes somewhere between 70k to 100k, I will hold and not sell. The biggest mistake and pitfall is to panic and sell.
3)In early April, when Bitcoin when Bitcoin reaches around 150k and starts to stabilize, I will dollar cost average out every day as soon as the gains start to decelerate and plateau. If I see a sharp decline, I will exit immediately. In fact, as soon as the price stabilizes and starts to decline, I think I will cash out immediately, everything. Why risk the unknown for a few thousand more dollars?
4)Most likely, like the last cycle, the large selling by whales will trigger panic and drive down the price around 50%. I wll buy back in for some amount at this point, and hold until the new high is reached, and start selling off when prices stabilize or fall.
Key points: dont' be greedy, aim to 2x to 3x your money if you just bought in at 60K level. Don't panic during correctons, hold and DON'T sell. Sell over a few days as soon as Bitcoin reaches 120-180k, stabilizes, and then gradually the momentum turns, and the prices keep falling. Lock in your profits, and don't be greedy and try to wait for higher prices. They may come, but you risk losing everything, and might have to wait another four years.
Also, since I do not own my Bitcoin directly, but through an ETF, which cannot be traded on weekens and holidays I will sell immediately on a Friday if I have reached the 120-200k level, and we are in the stabilising phase, with prices flat or falling. I don't want to be helpless during the weekend while Bitcoin crashes 30-50%. The May 3 date on Friday, the day the Fed announces rate cuts is crucial. Bitcoin could crash over the weekend, even if they announce rate cuts.
1)March 10-early April: For the next three or so weeks, Bitcoin will continue to slowly rise before halving, maybe even make some big moves, inching towards 100k.
2)The halving will be in April, and in anticpation, Bitcoin will steadily increase its pace of gains
3)The media will begin to hype up the fact Bitcoin keeps reaching new Milestones. Demand for ETFs soar just like lottery tickets during powerball. Bitcoin will start rocketing towards 100k.
5)Early April:In about three weeks, and on the way up to the 100k mark, there will be a 10-25% correction caused either by manipulation to spook investors or investors taking profit, and drive down the price
6)After the correction, around early to mid April (before the halving date) it will continue to go up to 120-180,000. Then the whales will dump to take profit, kill off investors, and drive down the price.
7)Mid April to May (probably before the halvind date of April 20)The price will plummmet to around 50% of the peak, so roughly 60-90k.
8)Mid/Late April to Late May/June: Whales will buy back in and prices will recover, until a new high is reached, forming a double top like the last cycle.
It's impossible to say how it would go, but we can probably see a peak of 150k-250k. It will be fueld by new investors fomoing in, the halving date which will happen after the crash, and the Fed's decision to cut rates, supplying fresh money into the system.
9)Sometime in late summer/early fall: The price will begin to crash drastically, eventually to 50-75k, and the cycle will finish.
My strategy is a quick, get in, get out strategy.
1)Hold until Bitcoin reaches 130k or more until early April
2)When the smaller correction comes somewhere between 70k to 100k, I will hold and not sell. The biggest mistake and pitfall is to panic and sell.
3)In early April, when Bitcoin when Bitcoin reaches around 150k and starts to stabilize, I will dollar cost average out every day as soon as the gains start to decelerate and plateau. If I see a sharp decline, I will exit immediately. In fact, as soon as the price stabilizes and starts to decline, I think I will cash out immediately, everything. Why risk the unknown for a few thousand more dollars?
4)Most likely, like the last cycle, the large selling by whales will trigger panic and drive down the price around 50%. I wll buy back in for some amount at this point, and hold until the new high is reached, and start selling off when prices stabilize or fall.
Key points: dont' be greedy, aim to 2x to 3x your money if you just bought in at 60K level. Don't panic during correctons, hold and DON'T sell. Sell over a few days as soon as Bitcoin reaches 120-180k, stabilizes, and then gradually the momentum turns, and the prices keep falling. Lock in your profits, and don't be greedy and try to wait for higher prices. They may come, but you risk losing everything, and might have to wait another four years.
Also, since I do not own my Bitcoin directly, but through an ETF, which cannot be traded on weekens and holidays I will sell immediately on a Friday if I have reached the 120-200k level, and we are in the stabilising phase, with prices flat or falling. I don't want to be helpless during the weekend while Bitcoin crashes 30-50%. The May 3 date on Friday, the day the Fed announces rate cuts is crucial. Bitcoin could crash over the weekend, even if they announce rate cuts.
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Bitbuy doesn't seem to have a stop loss option. Unless I'm missing something. Defeats my whole strategy really.
Yes, having a stop loss option will be important to protect your profits on the way up. We saw how quickly prices plummetted after reaching certain key levels (ath and 70k). When we are close to the top, and whales sell en masse, there may be no time to sell manually. But they can also backfire.
Stop-losses are controversial, and they can backfire. Many long-term investors never use them, however they do play a role in some short-term strategies, or when you think an investment may turn to custard.
What Are the Risks of Using Stop-Loss Orders?
A risk of using a stop-loss order is that it may be triggered by a temporary price fluctuation, causing the investor to sell unnecessarily. For example, if a security's price drops suddenly and then quickly recovers. Here, you may end up selling at a loss and missing out on potential gains.
It seems like these large sell orders by the whales are designed to trigger those stop losses, causing you to sell at the wrong time and miss out on the immediate recovery. Use with caution, as it can be a double-edged sword.
I will probably use them in a very limited way, maybe even to just protect my initial investment, as you never know how low Bitcoin could go if something insane were to happen, and Bitcoin were to go to 20,000. I am glued to my screen, but can't watch it overnight. My nightmare is that I'll wake up Bitcoin going to 0, and losing everything. So setting a stop order to protect you from anything that extreme provides insurance and peace of mind. Beyond that, it has its pros and cons.
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When and if it hits 100k it's going to drop so fast. Fuck that, to worry about something while I'm (supposed to be) sleeping? lol
which makes me think the Coin is the Trojan horse and normalize the term "blockchain" over the next few years in society, so it's not a "bad" thing, since everyone bought and sold bitcoin coin and tagged along with that was "blockchain".
More power to you guys making money though, hope you all do well.
same argument has been made over and over again
stop overanalyzing, overthinking, and worrying too much about "fundamentals "... i used to be like that
in a bull run, you throw fundamentals out the window , even with stocks, because the market is driven by greed... eg you think all those AI stocks (including nvda? )are fairly valued ? lol
