BTC is trending up overall. 68k used to be resistance, now it's support. After halving, in the summer it should finally take off. Most likely doubling at least by year's end.
Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
Didn't you call a "double" by this week ? Or was that another TERB member ?
I'm curious, like to learn shit, how do you know? What site are you watching? Screenshot with a red circle around the numbers or on the graph please. lol
That shark was probably Cuban, slimy guy.
I just looked at the sudden price increase, most likely was one large transaction by a whale.
You can see live trades here:
Combined Order Book - CoinLobster
Live combined order book, trades and liquidations showing Bitcoin, Ethereum, Dogecoin, XRP, Cardano, Shiba Inu, Solana, BNB, and Polkadot with volumes across 10 spot and perpetual futures exchanges.
coinlobster.com
You can see two sides in the graph: the bid side and the ask side. The bid side on the left shows that there are many people placing limit orders to buy bitcoin at around 62,000. As the price moves closer to 65,000, there are fewer and fewer people wanting to sell their Bitcoin. On the on the other side, many people want to sell their Bitcoin at 69,000. As we move down in price, we see fewer and fewer people wanting to sell. The people on the far left and far right are not having their orders filled because they are being "unreasoanble" for the current market. They will have to wait until the market changes in their favor, and in the meantime they are on the sidelines.
The price in the middle where there is the fewest number of orders waiting is the market price. Those in the center are the ones who are getting their order filled quickly since they are willing to sell their Bitcoin for market price, and those who are willing to buy at the market price are also getting their order filled. It is all about demand and supply that determines the market price. The market price is the price at which transactions can occur (the price where people can find a buyer for their Bitcoin and at which people can sell their Bitcoin).
One large transaction or a series of coordinated transations can cause the price to signifcantly drop, affecting the price. Whales do this to manipulate the price and, for example, cause panic and make more people sell. Once the price hits a new low, they buy back in to make a profit. You can enter any large number in the "Size filter" to see only very large transactions (e.g. 50 Bitcoin or higher). Tranactions in green are buy, and those in red are sell.
You can also track whale transactions here: https://clankapp.com/
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Right now Bitcoin is most likely falling due to uncertainty in the Fed rate cuts, as the Fed has been ambigous. Also, economic data shows that the economy is doing better than expected, even without rate cuts. This could mean no rate cuts, or fewer than expected.
Just profit taking in all risk-on markets. Next leg up will be in a few months; accumulate during this time.
It's too late for me. I got excited when it hit 72k and went all in. I'm 100% in on bitcoin.
bro, you're not a newb anymore ...once you're up, sell some BTC and get in some alts
we held above 69k over the weekend, good signAround 10:00am we hit $ 67,015 and then pulled right back. I hope we can hold the $ 65k line
we will range for several more weeks ..just accumulate ...these mini pumps and dumps are just meant to chop out people
Watching BTC/ETH all morning, I can't believe they are flat on the day and every ALT that I have is in the red. UGH !
There's an important and tough resistance mark at around $ 68,177 and at 10:00 am or so it bounced off 67,972/68,019 ( Bybit/Coinbase resp). It will try and blast thru again any minute from here. Let's hope it turns into support and we hold.
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Something tells me we'ere not going to see the usual two to three month plateau after the halving. This cycle just seems so much more energized, I feel that we're going to skyrocket shortly after the halving. But who knows.
I don't remember the exact dates in the last bull cycle, but when BTC hit $ 69k in mid November, by the last week of Jan 2022, it was about half. The moral of my story is don't be the last BTC holder to run to the exit . . .Run like a George Costanza
If you are/were a true believer in this BTC bull run, around 7 to 8am this morning ( pre CPI data) was the best time to dip buy. I don't know anyone who has the cajones to step in and average down when the market is tanking, but all the dumps in 2023 and up till now, all have recovered , np. But at the time of the dump, if you're watching live, it looks like it's going to be a "God Candle" ( 10k or more ). Yikes !
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Hong Kong will approvet ETFS very soon. Expect a huge price increase.
