Bitcoin to skyrocket in 2024

[poker]

Charlie Munger says crypto is a bad combo of fraud and delusion — 'good for kidnappers'

"This is a very, very bad thing. The country did not need a currency that was good for kidnappers," Munger said in an interview with CNBC's Becky Quick Tuesday.

www.cnbc.com

Charlie Munger says crypto is a bad combo of fraud and delusion

 

[Bigdaug]

Charlie Munger says crypto is a bad combo of fraud and delusion — 'good for kidnappers'

"This is a very, very bad thing. The country did not need a currency that was good for kidnappers," Munger said in an interview with CNBC's Becky Quick Tuesday.

www.cnbc.com

Charlie Munger says crypto is a bad combo of fraud and delusion

Charlie munger has seen everything the guys been in the stock market for like a hundred years. He's killed it. I'll take his advice to the bank

 

[Insidious Von]

Crypto got an air of legitimacy when the Bank of Luxembourg backstopped it, that's when it started to take off. The BoL is a tax haven for billionaires.

The mightiest of all crypto currency Dogecoin has a share price of 10 cents.

 

[Ceiling Cat]

SBF took crypto and shoved it up his arse and pulled it out coated with nasties. There will be no confidence in crypto until the FTX scandal is resolved and then it will be a while before any confidence returns to crypto. If crypto survives, it will be years before it comes back.

 

[Gstep]

Bitcoin and crypto in general is increasing being held & propped up by the 'whales'.

How Bitcoin whales make a splash in markets and move prices

Critics of the crypto ecosystem say that whales make this space centralized, maybe even more centralized than the traditional financial markets.

cointelegraph.com

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

Manipulation power of crypto whales - The Cryptonomist

For example, placing a 3,000 BTC buy order at a price lower than the spot price could create a support point for Bitcoin

en.cryptonomist.ch

Is bitcoin being manipulated? A professor who proved it in 2017 sees more red flags.

"In a period of highly negative sentiment, we've seen suspiciously solid floors under bitcoin," finance professor John Griffin told Fortune.

markets.businessinsider.com

At this point it's little more than a pyramid scheme where the wealthy big investors are just hanging on waiting for some sort of momentum to occur. Once they get that a huge surge of retail investors will buy in thanks to fomo causing the price to skyrocket. Then after it reaches a high enough level they'll all cash out simultaneously leaving retail investors holding the bag as it crashes down to nothingness.


"There have been concerns about the potential for Bitcoin's price to be manipulated by large stakeholders or "whales," who hold significant amounts of the cryptocurrency. This is because the Bitcoin market is relatively small and illiquid compared to other financial markets, which means that large trades by these whales can have a significant impact on the price. One way that whales can manipulate the Bitcoin market is by engaging in "pump and dump" schemes, where they buy up large amounts of Bitcoin to drive up the price, and then sell off their holdings once the price has increased, causing the price to drop. This can create a false impression of market demand and artificially inflate the price of Bitcoin. Another way that whales can manipulate the Bitcoin market is by engaging in price manipulation tactics such as spoofing or wash trading, where they place large orders on the buy or sell side of the market to create the appearance of demand or supply, but then cancel the orders before they are executed. This can create false market signals and distort the true market price of Bitcoin."

I've actually noticed this myself when I was trying to trade a stock that had little volume. Even just the mere act of placing a sizeable order will influence the price upwards or downwards. But I did it with the intent of actually selling at that price and not simply to manipulate the actual market price.

 

[sprite09]

Bitcoin and crypto in general is increasing being held & propped up by the 'whales'.

How Bitcoin whales make a splash in markets and move prices

Critics of the crypto ecosystem say that whales make this space centralized, maybe even more centralized than the traditional financial markets.

cointelegraph.com

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

Manipulation power of crypto whales - The Cryptonomist

For example, placing a 3,000 BTC buy order at a price lower than the spot price could create a support point for Bitcoin

en.cryptonomist.ch

Is bitcoin being manipulated? A professor who proved it in 2017 sees more red flags.

"In a period of highly negative sentiment, we've seen suspiciously solid floors under bitcoin," finance professor John Griffin told Fortune.

markets.businessinsider.com

At this point it's little more than a pyramid scheme where the wealthy big investors are just hanging on waiting for some sort of momentum to occur. Once they get that a huge surge of retail investors will buy in thanks to fomo causing the price to skyrocket. Then after it reaches a high enough level they'll all cash out simultaneously leaving retail investors holding the bag as it crashes down to nothingness.


"There have been concerns about the potential for Bitcoin's price to be manipulated by large stakeholders or "whales," who hold significant amounts of the cryptocurrency. This is because the Bitcoin market is relatively small and illiquid compared to other financial markets, which means that large trades by these whales can have a significant impact on the price. One way that whales can manipulate the Bitcoin market is by engaging in "pump and dump" schemes, where they buy up large amounts of Bitcoin to drive up the price, and then sell off their holdings once the price has increased, causing the price to drop. This can create a false impression of market demand and artificially inflate the price of Bitcoin. Another way that whales can manipulate the Bitcoin market is by engaging in price manipulation tactics such as spoofing or wash trading, where they place large orders on the buy or sell side of the market to create the appearance of demand or supply, but then cancel the orders before they are executed. This can create false market signals and distort the true market price of Bitcoin."

I've actually noticed this myself when I was trying to trade a stock that had little volume. Even just the mere act of placing a sizeable order will influence the price upwards or downwards. But I did it with the intent of actually selling at that price and not simply to manipulate the actual market price.

yup ,that's what happens in the equity markets , as well , although admittedly it's pronounced in crypto.

in the end, in either market, dollar cost average and thus stay in the market. gotta play long game,be in it to win it if you can't stand a bear market for a couple of years, then stocks (and
crypto) aren't for you .

 

[Darts]

FTX did not went bankrupt. FTX was a planned fraud from the get go. The ponzi dried up. No bankrupt here.

That's what people need to realize. You give millions of dollars to young crazy wackos in an unregulated market and you expect them to behave?

I heard FTX threw some great parties with their ill gotten wealth from not so wise "investors".

"Online gossip alleging the group lived in a “polycule” — or network of polyamorous relationships — surged after CoinDesk reported the executives “are, or used to be, paired up in romantic relationships with each other.”"
FTX shrink says execs were 'undersexed,' denies substance abuse (nypost.com)

 

[stinkynuts]

Bitcoin up 35% last few days. When interest rates come down, Expect bitcoin to make a big move. Bitcoin moves very fast so if you plan to invest, now would probably be the best time

 

[sprite09]

Bitcoin up 35% last few days. When interest rates come down, Expect bitcoin to make a big move. Bitcoin moves very fast so if you plan to invest, now would probably be the best time

the best time for crypto and stocks was last yr , but ofc most people were fearful and thus panic sold or waited cause thought it'd go down further.

or they stopped buying the dip and couldn't stand the pain of further drops (lower high) and now they missed out the enormous rallies that happened during the beg of this yr.

just dollar cost average, take the emotion and guessing game out.

not directed at you personally, but people in general should stop watching and listening to so-called experts as well as thinking they can time / outsmart the market ...you can't

 

[mitchell76]

Wow, price of bitcoin is on fire. Over $28000 US$. Bitcoin up 71.06% YTD.

Bitcoin

Bitcoin USD price, real-time (live) charts, news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.

www.coindesk.com

 

[sprite09]

Calm down. It's still monopoly money.....

right, that's why I was able to take some profit in CAD

 

[sprite09]

OK: Canadian Tire Money.

no, dumb ass, and e transferred into my account quickly thereafter .

 

[sprite09]

Oh, you must be so proud!

I remember a famous ad 40 years ago that is still true today:

"We make money the old-fashioned way: We earn it".....

ok, so you're just earning money through labour income...got it...well, technically, I guess I could call it labour income , as well, since I had to physically press the guy and sell buttons and put in the time to do so

 

[stinkynuts]

Wow, price of bitcoin is on fire. Over $28000 US$. Bitcoin up 71.06% YTD.

Bitcoin

Bitcoin USD price, real-time (live) charts, news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.

www.coindesk.com

This is just the very beginning of the next bull run. From here, expect bitcoin to surge to 80 to 150,000 in the next couple of years. Of course, anything can happen, but history has a tendency to repeat itself.

 

[Anbarandy]

right, that's why I was able to take some profit in CAD

Why do you need to convert your profits into CAD?

In other words, why do u feel the need to cut and run to the safety of CAD?

Or in otherly words, why not have faith and trust in crypto-coin and just keep your money there?

 

[sprite09]

Why do you need to convert your profits into CAD?

In other words, why do u feel the need to cut and run to the safety of CAD?

Or in otherly words, why not have faith and trust in crypto-coin and just keep your money there?

because it's all about money to me...im not one of those crypto evalgenists who think everything will be priced in Bitcoin

whether it's stocks or crypto, after a parabolic rally there is always a breather, so took some profits

I don't care if it's crypto, stocks, baseball cards ,etc etc ..at the end of the day a gain is a gain..it's all about making $

 

[sprite09]

Yeah! You'd think that this was a casino or something!

LOL

that's essentially what the market has been since the GFC...a no-lose casino

 

[stinkynuts]

We all know that crypto is worthless and a scam, just like NFTs.

However, we also know that people are stupid enough to buy into it, and the price will go up as demand goes up.

All I care about is making money, and I invest in things that I think will go up in price, not things that I think are
Valuable. The two are often related, but not always.

Bitcoin is one of the assets that I think that are worthless, but will go up in value, simply because people are greedy and gullible enough to believe in it.

Every four years bitcoin goes through a cycle, and we are at the buying point in the cycle.

 

[mitchell76]

We all know that crypto is worthless and a scam, just like NFTs.

However, we also know that people are stupid enough to buy into it, and the price will go up as demand goes up.

All I care about is making money, and I invest in things that I think will go up in price, not things that I think are
Valuable. The two are often related, but not always.

Bitcoin is one of the assets that I think that are worthless, but will go up in value, simply because people are greedy and gullible enough to believe in it.

Every four years bitcoin goes through a cycle, and we are at the buying point in the cycle.

Yes, but it's the same stock market problem. You feel stupid, buying a speculative investment (Bitcoin ETF's), that have already gone up, so much in price. If I ever did buy BTCC, I would be afraid to hold it, longer than a week.

BTCC.TO Performance & Stats | Purpose Bitcoin CAD ETF Currency Hedged

In depth view into BTCC.TO (Purpose Bitcoin CAD ETF Currency Hedged) including performance, dividend history, holdings and portfolio stats.

ycharts.com

 

[LiveInTorontoPartyInMontreal]

CBBI - Colin Talks Crypto Bitcoin Bull Run Index - BTC Price Evaluation

Colin Talks Crypto Bitcoin Bull Run Index (CBBI) uses multiple metrics to evaluate the confidence that we are at the price peak of the current Bitcoin bull run.

colintalkscrypto.com

Most people call this a hindsight chart, did BTC "bottom" in November 2022 and are we going to hit max levels in 2024/2025 ? Get ready to back up the truck !