Its market cap is over a trillion. What fundamentally would cause it to add another trillion.
Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
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
you call it a ponzi scheme but it's a good time to buy?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 cycleswww.bitcoincyclescomparison.com
Just because it's a ponzi scheme doesn't mean you can't make money. As long as you're not holding the bag, you will be fine. Bitcoin will crash sometime late next year or in 2026. Those left holding the bag will lose 80% of their money.
I've got a few dollars in it. Have to re watch the video of the guy's timing prediction. I signed up with one platform that allowed a stop loss on crypto but couldn't fund it. The funding process included using moon tokens or some sort of unexplained bullshit which I couldn't navigate through. Stop loss would be the way to go if you are investing a lot.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 cycleswww.bitcoincyclescomparison.com
Either that, or just buy Bitcoin with the donation, probably more profitable. Actually, considering that there could a hefty fee to buy Bitcoin, it may make sense.
Oh, wow down 8%!!!!! (sarcasm)
Skeptics have no absolutely idea the pump that's going to come.
You won't see 54K BTC again THIS cycle, and very unlikely it's going under 60K. If it goes to 59K, it'll be another bear trap. We're in the fifth impulse wave (look up Elliot Wave Theory) and the fifth wave is the longest for commodities. Crypto has been following this.
That said, this is the last cycle of crypto of one-year bear, three-year bull, as it becomes a mainstream asset class. It'll undergo what other traditional asset classes have undergone--a multi-year, secular bear market. My thought is that after this bull run, that's what crypto will do.
According to Bob Loukas, a well respected commodities trader who talks about bitcoin , he said the same. The bull-bear cycle is part of a bigger cycle, and the bear part of the larger cycle is coming soon.
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I think it'll be 2025 since that would follow the 4-yr cycle, but when in 2025 is the question.
Well-know on-chain analyst Ki Young Ju thinks mid-2025:
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I won't really stick to timelines, but rather price action--I've repeatedly said the end of the cycle is when ethereum makes a new all-time high (ATH)--then you get alt season when all the alts go absolutely bananas, which lasts 2-5 months (last cycle was basically Jan 2021 to mid May; 2017 cycle was mid-Novemeber to beg of January 2018).
When Eth makes a new ATH, that's when you should be gradually liquidating your positions (i.e., dollar-cost averaging OUT).
Many thought that we were in an accelerate cycle, but it turns out that the ETFs just gave it an early pump.
Looks like we will follow the typical four-year cycle. However, I am going to be conservative, and cash out earlier than I should. Then I'll take some of my earnings and dump them into altcoins (after ETH reaches a new ATH, as Sprite mentioned). I'll put $100,000 into them, and hopefully 5X at least.
Trying to figure out my altcoin portfolio, but am stuck. I can only think of meme coins such as doge and shibainu, since they have a cult following. Looking for somethign that may 5-20x, but have little chance of going to zero. Cardano, Ripple, DOT, SOL seem to be "safe".
Any recommendations would be appreciated.
Here is a reddit thread on the subject:
Looks like we will follow the typical four-year cycle. However, I am going to be conservative, and cash out earlier than I should. Then I'll take some of my earnings and dump them into altcoins (after ETH reaches a new ATH, as Sprite mentioned). I'll put $100,000 into them, and hopefully 5X at least.
Trying to figure out my altcoin portfolio, but am stuck. I can only think of meme coins such as doge and shibainu, since they have a cult following. Looking for somethign that may 5-20x, but have little chance of going to zero. Cardano, Ripple, DOT, SOL seem to be "safe".
Any recommendations would be appreciated.
Here is a reddit thread on the subject:
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From the reddit thread:
I encourage you to remember this is not the stock market. A diversified portfolio with so many you want in that portfolio may end up wrecking you. I guess in the perfect world you could have so much money you would just invest all you have equally among the top 100 and become a billionaire. How would you like to bet that the majority if not close to all would agree that if there are any guarantees in this world it would be Bitcoin and ethereum doing a 2X. That is the safest investment you can make, the smallest risk.
I encourage you to remember this is not the stock market. A diversified portfolio with so many you want in that portfolio may end up wrecking you. I guess in the perfect world you could have so much money you would just invest all you have equally among the top 100 and become a billionaire. How would you like to bet that the majority if not close to all would agree that if there are any guarantees in this world it would be Bitcoin and ethereum doing a 2X. That is the safest investment you can make, the smallest risk.
No offence OP, but the fact that you were ACCUMULATING altcoins since Jan 2023 whilst the Altcoin market was (fairly predictably) bleeding horribly, the presence of some pretty dusty coins in your portfolio, and your replies to another user showing that you do not take market cap or M2 liquidity/Fed interest rates into account for your decision making, to me points towards you maybe placing too much value on the word of crypto YouTubers and crap crypto articles, and imo you are at risk of not making that much return on your investments (especially compared to if you just held BTC), if not getting rekt at least partially with some of those coins. Just be careful and make sure you understand why these things are important, as well as BTC Dominance. Do not rely to heavily on the idea of a "4 year cycle", it really is not guaranteed this time around.
The amount that some of those altcoins you hold bled by over 2023 is astonishing and I'm just going to warn you that many of them might not pump ever again, or at least not by much. People generally want shiny new coins, and the people who sold their bags during 2023 will not be returning to those coins with no/far fewer people to replace them, it's rare that altcoins come back stronger after a bear market. That's just the way it is sadly, crypto bros never stopped telling viewers to buy altcoins through 2023, even though so many of them were bleeding by over 90% and they KNEW that they were just telling people to provide exit liquidity, do not trust them. Tbh, even though I have recently started accumulating altcoins again myself, it still might not be the time to do it, and there could be further to fall, or BTC may still outperform the vast majority of them for some time, especially since it's looking like rate cuts arn't happening as soon as we would like. And a big Altcoin rally is hardly guaranteed.
Some of those coins, imo, don't seem set to be do much. Of the ones you hold already, I'm sceptical of ATOM, ZEC, and (unpopular opinion time) AAVE. ADA, LINK, and DOT arn't bad choices, but idk if 10x is really on the cards for them either. I would drop SAND and OCEAN as quickly as I could, it's pure crap and this metaverse, digital land prospecting nonsense is not going to happen..
While I'm at it, I don't think crypto gaming is going to happen either, there is no traction, there is not a single decent crypto game out there, and the general public are not interested (doesn't necessarily mean there isn't buckets of cash to be made on a narrative though...).
Of the ones you are considering buying into, XRP has never really done anything, and it is again (imo) just a dusty old coin that YouTube crypto bros and crap "journalists" bang on about because they're all underwater with their bags, have been for years, and are trying to keep the hype alive, but ofc I could be wrong. Sceptical of ICP, and idk what to think of RLB, CFG, GMX, why those ones? MATIC admittedly has potential, and I used to have some but sold it after it's last big pump, and I have no intention of buying back into it because of the concerns about how few people control all the decision making and how few hold such a massive % of the supply (sounds like a recipe to get rekt to me).
Sorry if I'm just nit-picking here, but ultimately when you pose this question to Reddit, all you're really going to get are people shilling the bags they already hold.. so that being said, here is what I hold: Mostly BTC, then at varying percentages: ETH, SOL, MINA, RNDR, IMX, APT, AVAX, HNT, INJ, NEAR, STX, HBAR, OP, GRT (sceptical), FET (sceptical), SEI, SUI, AKT. And looking at their performance even during fairly unfavourable macro conditions, and at the slightest drop in BTC Dominance, I have no regrets so far..
Good luck!
