Bitcoin to skyrocket in 2024

[Mencken]

There are 2 things going for cryptocurrency. First it potentially is a more efficient way to eschange money between currencies, or to move money between places. But I don't think that has worked out so far.

The second thing is there may be value in scarcity. Bitcoin, for example, will max at somewhere around 21 million. Mathematically apparently. Not sure about other crypto currencies - they may not have that feature, not sure. But for the bitcoin example the limited number and scarcity may give them some value. In that sense it is like gold. Gold has very little intrinsic value, most of its value is in its scarcity, combined with the idea that people think it has value.

Having said all that I'm not buying bitcoin anytime soon.

As for patterns in its past changes in value...good luck with that. People see faces in the moon too. We're great at finding patterns, but much of the time they are random noise. Bitcoin has only been around for just over 10 years, so a 4 year or whatever pattern is noise.

 

[sprite09]

Why don’t you just dump some money into an S&P, or TSE index now? It will doubled in less than 4 years with the recovery, and much less risky or shady?

because on avg it earns less than 10 percent year

 

[poker]

because on avg it earns less than 10 percent year

This won’t be avg though…. During a recovery it should pick up steam.

 

[sprite09]

There are 2 things going for cryptocurrency. First it potentially is a more efficient way to eschange money between currencies, or to move money between places. But I don't think that has worked out so far.

The second thing is there may be value in scarcity. Bitcoin, for example, will max at somewhere around 21 million. Mathematically apparently. Not sure about other crypto currencies - they may not have that feature, not sure. But for the bitcoin example the limited number and scarcity may give them some value. In that sense it is like gold. Gold has very little intrinsic value, most of its value is in its scarcity, combined with the idea that people think it has value.

Having said all that I'm not buying bitcoin anytime soon.

As for patterns in its past changes in value...good luck with that. People see faces in the moon too. We're great at finding patterns, but much of the time they are random noise. Bitcoin has only been around for just over 10 years, so a 4 year or whatever pattern is noise.

BTC price action is essentially following its previous 4 yr cycles (this would be 4th one) but encountered more macro headwinds last yr like other risk on assets (stocks, real estate) since there's more more than just retail money in the space now.

there might be a teaser rally but overall it's expected it'll essentially trade sideways this yr (ie accumulation phase) in anticipation for the next halving event next year in next spring. after which it typically takes BTC to 12 to 18 months to peak (so sometime in 2025).

the timing is perfect this time since it's likely interest rates will be lower compared to today so it'll be "risk on" for bigger institutional investors which should help propel the price even more.

theres probably gonna be regulatory clarity by then which should also help .

if you're even considering buying btc (you said not anytime soon), now is probably the time to do it.


he sums it pretty well

 

[sprite09]

This won’t be avg though…. During a recovery it should pick up steam.

even then, you're hoping for an amazing string of years based on historical returns ...

if you expect people to that risk on , then crypto will likely be way higher due to its strong correlation with equity markets now

 

[stinkynuts]

even then, you're hoping for an amazing string of years based on historical returns ...

if you expect people to that risk on , then crypto will likely be way higher due to its strong correlation with equity markets now

Yes. Bitcoin is now having a very strong correlation with the indices, especially the Nasdaq. It has a high Beta, meaning that for every percentage point the Nasdaq goes up, it will go up/down many percentage points.

I am not a crypto guy at all. I think it’s nothing but a ponzi scheme, but things are really setting up for Bitcoin to really take off, and 5-10X in 2025.

The macro economic conditions will favor high risk equities and crypto due to the slash in interest rates, and the world economy recovering from the Covid shutdown. China is just warming up.

Bitcoin’s four year cycle is very predictable and almost certain to repeat itself in almost identical fashion. This is really the opportunity of a lifetime to become rich. In the past, I wouldn’t even have considered investing large amounts into this speculative investment, but Bitcoin has become so much more established now. There are huge institutional players involved with billions of dollars invested in Bitcoin , so Bitcoin is not like the majority of unbacked alt coins which will probably not survive.

The major obstacle is getting the timing right. Bitcoin, it will skyrocket, and only stay at its peak for a short time, maybe a few weeks. It’s important to cash out then, but the problem is that almost everybody will have the same idea. This is why it’s probably better to cash out well ahead of the peak, maybe at 3-5 x your investment.

I don’t think I’ve ever come across such an opportunity in my lifetime. Of course, there are going to be many skeptics, and I can definitely understand why.

However, I can almost certainly guarantee they will be mass hysteria and coverage by the media when bitcoin hits $100,000. It will be like the Mega jackpot, and billions of dollars will be pouring into this ponzi scheme. Trust me, those at the very top with billions of dollars at stake know this very well, and are setting up the next bull run, waiting for their juicy profits.

 

[stinkynuts]

If you want to be conservative with modest gains, that’s fine. But the comparison is something like this:

S&P: 20-35% return in next two years, and very unlikely to lose any money.

Bitcoin: If timed correctly and proper discipline: 5-10x (500% - 1000%) possible (30% likely). 1-5X (50% probability). Then there’s a 20% chance you will lose money, possibly up to 80/90 percent.[/QUOTE]

 

[poker]

If you want to be conservative with modest gains, that’s fine. But the comparison is something like this:

S&P: 20-35% return in next two years, and very unlikely to lose any money.

Bitcoin: If timed correctly and proper discipline: 5-10x (500% - 1000%) possible (30% likely). 1-5X (50% probability). Then there’s a 20% chance you will lose money, possibly up to 80/90 percent.

[/QUOTE]

I don’t see what you are seeing Stinky… sorry.

I don’t see a $300k value.

I will grant you it’s going to back up with economy. There will be a lot of Elon Musk style pump and dump schemes… as investors get in low, they will do everything to hype it up…. I am looking forward to that part.

I may put a $1000 in it as fun money myself. Who knows.

My advice, which I am sure you already know…. Don’t use your secure money… only disposable. Good luck!

 

[sprite09]

I don’t see what you are seeing Stinky… sorry.

I don’t see a $300k value.

I will grant you it’s going to back up with economy. There will be a lot of Elon Musk style pump and dump schemes… as investors get in low, they will do everything to hype it up…. I am looking forward to that part.

I may put a $1000 in it as fun money myself. Who knows.

My advice, which I am sure you already know…. Don’t use your secure money… only disposable. Good luck! View attachment 206552

i dont see a 300k btc either, but it continues to defy the non-believers.

fyi, if you want a "safe" alternative to bitcoin with more upside, buy ethereum. you could essentially buy any crypto right now (even if it's a dead project) and stll make money in the next bull run. this is because all crypto currencies move together as explained by Heart:

6:47 to 8:10
8:20 to 9:15

 

[Insidious Von]

Don't fool yourself, interest rates will not decrease until 2028, there's too much scarcity and debt in the economy. It's not even close to leveling out. There is good news on the horizon, once Premier Douglas razes the Green Belt, the price of commodities will skyrocket. Common schmoes won't mind paying $40.00 for 500 gs of butter, speculators will get richer. I'm going to follow the Jed Clampett Doctrine and put all my money in Dogecoin.

 

[Robert Mugabe]

Since bitcoin has been clearly exposed as valueless and a ponzi scheme, where is the logic to think it will go up again? Kind of like thinking Bernie Madoff shares are about to make a comeback.

 

[LiveInTorontoPartyInMontreal]

I always thought to myself if I was ever on the inside and part of the Ponzi scheme circle, I would of let BTC run to the moon, maximize my take. But the snakes are behaving just like professional market technicians/traders by making the BTC cycle pullback with the maximum retracement of 80 - 90%. They are manipulating a lot of the Alt coins to have the same exact pattern as Bitcoin and ETH. After this is all over, I'd love to see a list of all the insider players involved.

 

[LiveInTorontoPartyInMontreal]

On any specific day when the insiders are yanking our chain, pick any top 20 coins and watch the minute by minute intraday graph. All of the 20 coins are being manipulated at the exact same moment. With all the organic buying / selling by all the billions of users logged onto their pc trading at home, you would say , what a coincidence ? DUH ! Pull this 3rd leg and it plays Jingle Bells ! LOL !

 

[sprite09]

Since bitcoin has been clearly exposed as valueless and a ponzi scheme, where is the logic to think it will go up again? Kind of like thinking Bernie Madoff shares are about to make a comeback.

well, if you haven't noticed, it already has (23k from low of 15k last yr... which is essentially a 50 percent gain), and , by your belief, it should have gone to zero a long time ago .

go put your money where your mouth is and short it. you don't even need to use a crypto exchange ...you can short ETFs, coinbase, Bitcoin mining stocks such as hut 8 and bitfarms.

 

[sprite09]

Don't fool yourself, interest rates will not decrease until 2028, there's too much scarcity and debt in the economy. It's not even close to leveling out. There is good news on the horizon, once Premier Douglas razes the Green Belt, the price of commodities will skyrocket. Common schmoes won't mind paying $40.00 for 500 gs of butter, speculators will get richer. I'm going to follow the Jed Clampett Doctrine and put all my money in Dogecoin.

right, they'll keep rates here or higher for another 5 yrs ... nobody knows in the end, but we're closer to top than bottom with regards to rates

 

[anonemouse]

Since bitcoin has been clearly exposed as valueless and a ponzi scheme, where is the logic to think it will go up again? Kind of like thinking Bernie Madoff shares are about to make a comeback.

There will always be people that will be flogging Bitcoin as being just about to "take off" again. And there's a sucker born every minute.

 

[stinkynuts]

Since bitcoin has been clearly exposed as valueless and a ponzi scheme, where is the logic to think it will go up again? Kind of like thinking Bernie Madoff shares are about to make a comeback.

It's a ponzi scheme controlled by a lot of people with lots of money and power. Many huge institutional investors, as well as corporations such as Tesla hold Bitcoin. They can always manipulate the price since it is unregulated, like stocks. Once the media, who is in on it, hype up Bitcoin and get the general public to pump in millions, then they dump it. It's a cycle that keeps repeating.

What Are Whales and How Do They Manipulate Cryptocurrency? - Jumpstart Magazine

Whales in cryptocurrency create waves that cause a ripple effect among small fishes, or traders, thus influencing the overall market. Between October and November 2021, the cryptocurrency Shiba Inu (SHIB) witnessed a surge, reaching a market capitalization of over US$20 billion. Researchers...

www.jumpstartmag.com

This ponzi scheme is uneregulated and legal. Completely unprecedented in history, and probably the only time you can take advantage of an oppourtunity like this in your lifetime. After this halving cycle, it's not certain what will happen. Maybe the game will go on, but maybe there will be more regulation. However, politicians are bought, and Bitcoin money is being used to influence politicians. Look at SBF and FTX, and how many millions he donated to the Democrats. There are many wealthy people at the top who have a vested interest in seeing Bitcoin survive and thrive.

Not only that, some entire countries are adopting Bitcoin, and it's a vital part of their economy:

"Some of the notable countries and governments that have reportedly accumulated bitcoin holdings include the Ukraine government (46,351 BTC), El Salvador (2,381 BTC), Finland (1,981 BTC), and Georgia’s government (66 BTC). "

There's actually a huge demand for Bitcoin:
-illegal use in money laundering, organized crime, prostitution, drugs, etc.
-alternative to sending money by wire or paypal, etransfer (much more convenient and inexpensive)
-some countries, whose economies have collapsed, or are suffering from hyperinflation rely on Bitcoin
-Many people in third world countries, who don't have bank accounts, use it to receive money from relatives in first world countries
-millions of people view it as an investment, and prefer the excitement of huge swings versus stocks and bonds.
-the excitement of possibly becoming a millionaire by buying crypto is a fantasy that gets millions of people to invest
-Bitcoin and other cryptos will be the dominant currency in the cyberworld (aka metaverse)

Yes, Bitcoin is basically a ponzi scheme and a scam. However, it doesn't mean that you shouldn't invest in it. You don't have to be the one who is fleeced. Just like the early investors of a ponzi scheme, you can become very wealthy.

 

[Robert Mugabe]

It's a ponzi scheme controlled by a lot of people with lots of money and power. Many huge institutional investors, as well as corporations such as Tesla hold Bitcoin. They can always manipulate the price since it is unregulated, like stocks. Once the media, who is in on it, hype up Bitcoin and get the general public to pump in millions, then they dump it. It's a cycle that keeps repeating.

What Are Whales and How Do They Manipulate Cryptocurrency? - Jumpstart Magazine

Whales in cryptocurrency create waves that cause a ripple effect among small fishes, or traders, thus influencing the overall market. Between October and November 2021, the cryptocurrency Shiba Inu (SHIB) witnessed a surge, reaching a market capitalization of over US$20 billion. Researchers...

www.jumpstartmag.com

This ponzi scheme is uneregulated and legal. Completely unprecedented in history, and probably the only time you can take advantage of an oppourtunity like this in your lifetime. After this halving cycle, it's not certain what will happen. Maybe the game will go on, but maybe there will be more regulation. However, politicians are bought, and Bitcoin money is being used to influence politicians. Look at SBF and FTX, and how many millions he donated to the Democrats. There are many wealthy people at the top who have a vested interest in seeing Bitcoin survive and thrive.

Not only that, some entire countries are adopting Bitcoin, and it's a vital part of their economy:

"Some of the notable countries and governments that have reportedly accumulated bitcoin holdings include the Ukraine government (46,351 BTC), El Salvador (2,381 BTC), Finland (1,981 BTC), and Georgia’s government (66 BTC). "

There's actually a huge demand for Bitcoin:
-illegal use in money laundering, organized crime, prostitution, drugs, etc.
-alternative to sending money by wire or paypal, etransfer (much more convenient and inexpensive)
-some countries, whose economies have collapsed, or are suffering from hyperinflation rely on Bitcoin
-Many people in third world countries, who don't have bank accounts, use it to receive money from relatives in first world countries
-millions of people view it as an investment, and prefer the excitement of huge swings versus stocks and bonds.
-the excitement of possibly becoming a millionaire by buying crypto is a fantasy that gets millions of people to invest
-Bitcoin and other cryptos will be the dominant currency in the cyberworld (aka metaverse)

Yes, Bitcoin is basically a ponzi scheme and a scam. However, it doesn't mean that you shouldn't invest in it. You don't have to be the one who is fleeced. Just like the early investors of a ponzi scheme, you can become very wealthy.

Well, allright. I am tracking it. Bought a fictional share in March of 2020 on my porfolio tracker. Will watch like a hawk. Didn't somebody say on one of those videos it will bottom at ten grand this year,with a resurrection in 2025?

 

[stinkynuts]

Well, allright. I am tracking it. Bought a fictional share in March of 2020 on my porfolio tracker. Will watch like a hawk. Didn't somebody say on one of those videos it will bottom at ten grand this year,with a resurrection in 2025?

No one knows where the bottom will be, it could have been a few weeks ago at 16,000. If you wait, there's a chance that we've already bottomed, and the price will only go up from now.

 

[Robert Mugabe]

No one knows where the bottom will be, it could have been a few weeks ago at 16,000. If you wait, there's a chance that we've already bottomed, and the price will only go up from now.

Well, it may go up. It may not go down.......but we both know it probably will. lol