Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
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Bitcoin, according to most, will start its run this fall.
Past two halving cycles , BTC stayed in a sideways to down range, not dropping more then 23.5% ( around $ 56,400 area )and doesn't go parabolic until 150 to the 160 days mark , let's call it September 15th, 2024 !
Everyone has mocked my allocations, but i really think Bitcoin will underperform like it did last cycle. Fed rates scare and FUD created an early cycle top at 69k, most were calling for 150 to 250k top, but BTC limped out like my cock on Viagra knockoffs 
. I just went BTC 15%, ETH/SOL/Alts 85%, super aggressive !
. I just went BTC 15%, ETH/SOL/Alts 85%, super aggressive !Im the opposite. I think BTC will pump to 150k at least, then I will cash out, and dump 100k into alts, after ETH hits a new high.Everyone has mocked my allocations, but i really think Bitcoin will underperform like it did last cycle. Fed rates scare and FUD created an early cycle top at 69k, most were calling for 150 to 250k top, but BTC limped out like my cock on Viagra knockoffs
Alts only pump AFTER BTC does, and people put their profits into alts to magnify their earnings
yeah, a lot of people try to time that (rotate from BTC to alts)...it's doable, but one must remember alts also go up with BTC, so once you do rotate, many have gone up, potentially limiting your downside.
People keep talking saying alts have been lagging and they have, but if you really look at the previous cycles, a lot of them do lag and then suddenly explode in alt season (e.g., look at cardano aka ADA, sol, etc.).
People keep talking saying alts have been lagging and they have, but if you really look at the previous cycles, a lot of them do lag and then suddenly explode in alt season (e.g., look at cardano aka ADA, sol, etc.).
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Every time this Sahm indicator has gone over 0.50, we've hit market tops and gone into a recession. Eight out of 8 times, ( see the gray shaded areas) and most recently COVID lockdown and 2008 - 2009 housing crash in the States. Contrarians are calling this indicator too small of a sample and economic conditions this time
around are totally different vs 2008. Only time will tell . . .
around are totally different vs 2008. Only time will tell . . .
Real-time Sahm Rule Recession Indicator
Graph and download economic data for Real-time Sahm Rule Recession Indicator (SAHMREALTIME) from Dec 1959 to Oct 2024 about recession indicators, academic data, and USA.
fred.stlouisfed.org
How much is the price following Trump's prospects?
The GOP and Trump are clearly more pro-Bitcoin than the Dems (not that there aren't any Dems who are pro-Bitcoin, there clearly are) and the Bitcoin money is being spent massively more in favor of getting Trump and GOP people elected.
Trump's promise of a "Strategic Bitcoin Reserve" has to be something the Bitcoin crowd wants.
So is speculation on the price just tracking Trump prospects?
The GOP and Trump are clearly more pro-Bitcoin than the Dems (not that there aren't any Dems who are pro-Bitcoin, there clearly are) and the Bitcoin money is being spent massively more in favor of getting Trump and GOP people elected.
Trump's promise of a "Strategic Bitcoin Reserve" has to be something the Bitcoin crowd wants.
So is speculation on the price just tracking Trump prospects?
If Trump is elected Bitcoin will soar, and if Harris is elected it will tank. However, the effect will be short lived, as all geopolitical events such as the Russian invasion and Middle East conflict have shown.
Harris being sworn in doesn’t fundamentally change anything . Bitcoin soared when it was supposed to under Biden and it will do the same under Harris.
Bitcoin just crashed big time. Plumetting to 57k and showing no signs of stopping.
Recession fears, Israelis conflict, Mt.Gox and US governent selling.
Looks like Jerome Powell fucked things up again.
From most of the Bitcoin threads I've read on TERB, I would say 95% are Bitcoin maximalists, anyone on this thread think we're in an early Bear cycle and Bitcoin already topped out in mid March 2024 ? If yes, it's possible that some cryptos could retrace 80% or more, that would be a Bitcoin price of about $ 14,750 using the most recent ATH ( $ 73,750 ).
Even Bob Loukas acknowledges that it's enitrely possible that we've peaked already. No one really knows. Just because Bitcoin follows a cycle doesn't mean it will follow the same template this time. BTC reached an ATH before the halving, something it never did before. Plus the ETFs and other differences make this cycle different from the others.
Having said that, I would say that the odds that we will follow a similar pattern to the previous cycles is at least 95%.
Regardless, I’m done with crypto after this. One of the main selling points of Bitcoin was that it had a low correlation to equities, protecting your portfolio during downturns. This is clearly not the case.
