Bitcoin to skyrocket in 2024

[stinkynuts]

Why does it have to be in December? It could be in January. I don’t get the timeline predictions bro.

Bitcoin’s movements are predictable. This is supposed to be the parabolic phase where growth is rapid and there are not prolonged pauses. It should reach a minimum of 120k by the end of the year.

If it doesn’t, that means demand has stalled. This means that no one is willing to buy bitcoin at 100,000 or more, and more and more people will start to sell as the price stagnates and drops, since Bitcoin not continuing its previous pace is extremely irregular and a major red flag.

If by the end of December Bitcoin still has not managed to crack 100k, it’s definitely time to sell everything.

 

[stinkynuts]

Even before this recent runup, many T/A's calling for BTC to 1.5x to 2x at the most. Last cycle we had a truncated peak at under 70k, everyone calling for 250k to 500k and then a few Black Swan events and rates rising fears cut the BTC cycle short. Ten days ago BTC hit $ 99,650 area, could it be possible that is the peak for this run ? Hope not or we'll meet at the KIA showroom !

It’s entirely possible we’re at the peak, but not probable. We have to wait and see.

If it is, I will be skipping buying a new car altogether, so unfortunately you will be at the Kia dealership by yourself.

 

[LiveInTorontoPartyInMontreal]

It’s entirely possible we’re at the peak, but not probable. We have to wait and see.

If it is, I will be skipping buying a new car altogether, so unfortunately you will be at the Kia dealership by yourself.

7 year financing, UGH !

 

[stinkynuts]

In the chart, select start cycles at: bottom.


The first cycle (blue) peaked exactly at this stage.

Bitcoin Cycles Comparison

Comparing the performance of Bitcoin across different halving cycles

www.bitcoincyclescomparison.com

This cycle was also unusual in that we reached a new high before the halving, so it’s still possible we are seeing an accelerated cycle.

 

[stinkynuts]

Many people who are long-term holders decided to sell at 100k, a nice large even number. Hence the immense selling pressure. It’s normal to stay here a bit longer and even have a small correction,but any prolonged downturn would not be normal.

Of course, anything can happen, and we may consolidate here for a long time before the next leg up, but it would not fit previous patterns.

 

[Robert Mugabe]

My initial foray wasn't until Spring this year. I added a little a month or so ago. but looking at the chart, completely missed the boat unless it decides to go to 200%

 

[stinkynuts]

My initial foray wasn't until Spring this year. I added a little a month or so ago. but looking at the chart, completely missed the boat unless it decides to go to 200%

At least you got in. Most people didn’t.

 

[stinkynuts]

 

[stinkynuts]

Alt coin season is here

Altcoin Season Index: Is it Altseason right now?

This tool puts an end to the question "Is it Altcoin season right now?" - Based on data

www.blockchaincenter.net

 

[MorganStanley1]

Do you guys use kraken or newton? I'm considering switching from the latter as the spread keeps getting higher.

 

[stinkynuts]

Do you guys use kraken or newton? I'm considering switching from the latter as the spread keeps getting higher.

I use kraken, coinbase, ndax
Sometimes use bitbuy, newton, crypto.com


Rbc keeps blocking etransfers to ndax, such a pain

Best Crypto Exchanges in Canada | CoinMarketCap

CoinMarketCap breaks down some of the top cryptocurrency exchanges in Canada.

coinmarketcap.com

Best Crypto Exchanges Canada | December 2024 Guide | Koinly

Looking for the best crypto exchanges in Canada in 2024? Here’s our top contenders for best security practices, user-friendly interfaces, low fees & more. 🔒

koinly.io

 

[LiveInTorontoPartyInMontreal]

Bitcoin red wicked all the way down to $ 93,600 area and having trouble getting over the $ 96k zone. Maybe consolidate for a couple of months ?

 

[stinkynuts]

Bitcoin red wicked all the way down to $ 93,600 area and having trouble getting over the $ 96k zone. Maybe consolidate for a couple of months ?

That would be very unusual at this stage. If that happens, I’m out.

Instead of consolidating for the next leg up, it could end up being the distribution phase.

Consolidation and pullback is normal, but nothing excessive.

 

[LiveInTorontoPartyInMontreal]

That would be very unusual at this stage. If that happens, I’m out.

Instead of consolidating for the next leg up, it could end up being the distribution phase.

Do you mean from weak hands to strong hands ? Come on, you are the most bullish person I've chatted with in this bull cycle !

 

[stinkynuts]

Do you mean from weak hands to strong hands ? Come on, you are the most bullish person I've chatted with in this bull cycle !

It’s good to bullish, but also not be blind to warning signs. Anything could happen.

I fully expect this cycle to play out like the rest. It’s very easy to know why. Look at how much money the institutions have poured in. They, along with the whales, control Bitcoin’s price. There is no way they are not going to NOT let this run fizzle out. They’re going to milk it for every last penny.

 

[MorganStanley1]

I use kraken, coinbase, ndax
Sometimes use bitbuy, newton, crypto.com


Rbc keeps blocking etransfers to ndax, such a pain

Best Crypto Exchanges in Canada | CoinMarketCap

CoinMarketCap breaks down some of the top cryptocurrency exchanges in Canada.

coinmarketcap.com

Best Crypto Exchanges Canada | December 2024 Guide | Koinly

Looking for the best crypto exchanges in Canada in 2024? Here’s our top contenders for best security practices, user-friendly interfaces, low fees & more. 🔒

koinly.io

thanks for the reply. How are the fees for kraken and ndax? I heard of banks blocking transfers to ndax as well.

 

[LiveInTorontoPartyInMontreal]

It’s good to bullish, but also not be blind to warning signs. Anything could happen.

I fully expect this cycle to play out like the rest. It’s very easy to know why. Look at how much money the institutions have poured in. They, along with the whales, control Bitcoin’s price. There is no way they are not going to NOT let this run fizzle out. They’re going to milk it for every last penny.

Watch out for warning signs I agree. I have a buddy who looks/reads every bullish crypto story and reads them only with rosy glasses on. Pigs will get slaughtered !

 

[stinkynuts]

thanks for the reply. How are the fees for kraken and ndax? I heard of banks blocking transfers to ndax as well.

Both are reasonable, Ndax has free interac deposits, Kraken charges a small fee. If you are doing a lot if trading, consider Kraken Pro.


Here’s a spreadsheet:

exchange_fees

docs.google.com

I have used NDAX, and the customer support is slow, but they are responsive and solved any issues. To me, they seem to he the most trustworthy. Kraken is the best major exchange in terms of fees.

It’s good to have multiple accounts anyway, pros and cons for each, and also prevents you from losing everything if something goes wrong with an exchange. You can spread out your money in at least two to four exchanges.

 

[stinkynuts]

Anyways, we’re down 4% from the high and have been in the 90’s for a couple of weeks. This is literally nothing compared to being stuck at 55k to 65k for 8 months. That was torture.

 

[stinkynuts]

Bitcoin’s price is 100% being manipulated. It’s no accident that the price was was not allowed to reach 100k. This would have set off the next run, with retail pouring in because of the hype.

The whales and institutions and exchanges need to benefit from liquidations and price swings.