My guess is that the September rate cut will br the catalyst that pumps it into the 80s. Then the resolution of the election. I think a Trump victory could catapult btc well over 100k, and next spring or fall will be the peak at 150-200k. But no one knows. I haven’t freaked out yet but I’m getting there.
Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
you're already seeing alts showing strength despite BTC dumping
i think it'll go up regardless what the Fed does... the cycle timeline thus far is similar to previous cycles
Maybe, but at the same time it’s been extremely sensitive to the Fed’s actions this cycle
disagree
markets have continued to rip despite elevated rates ..the Fed hasn't cut at all!
presidential year, presidential rally
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It’s gonna be a Santa Claus rally. You know what they say, sell in May and go away. Bitcoin will hit correction with the tech stocks, it’s about to happen.
There is going to be heavy selling pressure once Mt. Gox starts paying back the lost Bitcoins, up to $9 billion! A ton of Bitcoin was lost and their value has skyrocketed since then. I doubt the victims will start selling and cash in, they will probably hold. But some are saying Bitcoin could go to as low as 45k. I thought about selling and buying back in after July, but timing the market is hard. Hopefully, a lot of this forecasted drop has already been priced in.
mt gox fud when BTC was 100, 18k , and 60k... it's a nothing burger
keop stacking your bags... don't be on the sidelines, you'll get left behind
I know there aren't too many good T/A and chartists blogging on Social Media these days since they've been wrong a lot in the last 2 crypto cycles. But some are calling BTC $ 53,510 ( July 5, 2024) to be the very bottom of this post halving crash. I thought $ 56,500 was the "bottom". Any thoughts ?
I think 53k was the bottom, with all the fud over.
It’s like we climbed uphill forever and now it’s downhill easy money from here.
- loosening of monetary policy
-election resolution
-ethereum etfs
-historical cycle
-bitcoin etfs with much greater audience and institutional investments
-social media hype
I think since we’ve been artificially suppressed for so long, the upswing is going to be violent. Bitcoin to double from 70k to 140k in just a few weeks, as history suggests.
it was the bottom
2nd biggest liquidation (after ftx) and extreme fear ...basically same vibes after the ftx collapsed ...eg masses were waiting for 12k or lower BTC even though it was 15k ..never happened .
masssss were waiting for 52k or 48k BTC when it was briefly 53.5k to 55k ..not gonna happen barring a negative black swan
fyi we had a black swan ..trump shooting, but in this case it benefitted markets
2nd biggest liquidation (after ftx) and extreme fear ...basically same vibes after the ftx collapsed ...eg masses were waiting for 12k or lower BTC even though it was 15k ..never happened .
masssss were waiting for 52k or 48k BTC when it was briefly 53.5k to 55k ..not gonna happen barring a negative black swan
fyi we had a black swan ..trump shooting, but in this case it benefitted markets
Bitcoin heading toward 65k already, from 57k just a couple days ago. If it breaks ATH of 73k, then it's off to the races.
Trump could be catalyst for rise in bitcoin and if he is elected. I see bitcoin will surge.
I just can never get off the fence with Bitcoin... In the back of my mind, I keep hearing that it is backed by nothing...
It isn’t. Neither is the dollar.
All I care about is whether it’s a good investment.
The answer is absolutely. 100-200 percent return in the next year is probable. It follows a predictable pattern every four years.
Its market cap is over a trillion. What fundamentally would cause it to add another trillion.
The dollar is backed by the promise of taxpayers.....not entirely "nothing".
What I find interesting is all the BRICS countries buying actual physical gold reserves as they continue to gather strength to form their alliance.
Soon they will form their BRICS currency, which will be backed by gold.
demand.
it's a self-fulfilling prophecy ... for now. People know Bitcoin goes up in value, driving up the demand and price. This further makes it more desirable to have.
This is the 21st century version of the tulip craze. In the end, tulips were found not to be worth the exorbitant prices, so the price crashed.
The same will happen with Bitcoin. Unless there is a real value to it. If it can prove to be a stable store of value that increases in value over time (since fiat is losing value over time), and provides other benefits such as anonymity, quick/cheap transfers, then it could become widely adopted and justify its value. It would literally be digital gold.
However, in the end it is a ponzi scheme. People only want it because it makes them money. No one really uses it for transactions. That's why this is the perfect time to invest in Bitcoin. In the past, it was very risky and unproven. It wouldn't have been shocking to see Bitcoin fail and go to zero. It has withstood those shocks, and now has been validated and even embraced by politicans and investors. However, Bitcoin's returns diminish with each cycle. Perhaps this is because the risks are becoming less, and the law of greater rewards for greater risks applies. In additon, there is a good chance Bitcoin will fail long term, as the next generation of cryptos could eliminate the need for Bitcoin.
Take a look at this graph and decide for yourself what trajectory Bitcoin will now face, given it's past history. The current cycle is in yellow, and the previous three cycles in the other colors.
Bitcoin Cycles Comparison
Comparing the performance of Bitcoin across different halving cycles
www.bitcoincyclescomparison.com
