Bitcoin to skyrocket in 2024

[stinkynuts]

I was thinking of selling when it hit 65000, but was not going to make the same mistake. Jumping in and out to try to cut losses simply does not work

As they say, hodl: hold on for dear life

 

[Phil C. McNasty]

Absolutely brrutal

BTC down from 73K to 67K is quite a drop

 

[stinkynuts]

BTC down from 73K to 67K is quite a drop

Once it recover to 70k, I think I can breathe easy again.


You should definitely buy in now that it's low. Bitcoin will recover nicely.

 

[stinkynuts]

Some have said Bitcoin has already peaked,and is going to go down from here. I doubt that. Even though this cycle is clearly unusual, I think it will still follow the same pattern as the other cycles,.

 

[sprite09]

this is really funny...people are freaking out about an 8 percent drop ??? stocks do that every day

we're at 68k!! lol

imo were still above ATH since 69k last cycle was just a wick

broke previous ATh before halving , which. has never been done before ...we were overextended and due for a healthy correction ..nothing goes up in a straight line

 

[stinkynuts]

this is really funny...people are freaking out about an 8 percent drop ??? stocks do that every day

we're at 68k!! lol

imo were still above ATH since 69k last cycle was just a wick

broke previous ATh before halving , which. has never been done before ...we were overextended and due for a healthy correction ..nothing goes up in a straight line

I agree. But it was scary to see BTC plummet from 74,000 to 65,000 in just a few hours.

Looks like we're on the mend, approaching 70k.

 

[sprite09]

I agree. But it was scary to see BTC plummet from 74,000 to 65,000 in just a few hours.

Looks like we're on the mend, approaching 70k.

you look at the percentage ..not the absolute value

 

[LiveInTorontoPartyInMontreal]

you look at the percentage ..not the absolute value

Percentage change, I agree. Most crypto watchers play/or watch BTC and ETH and some of my friends are always complaining about the net up or net down nominal dollars on the day, it's the % that's the important thing. You have one asset with a 70k handle and another one at a 4k handle.

 

[sprite09]

Percentage change, I agree. Most crypto watchers play/or watch BTC and ETH and some of my friends are always complaining about the net up or net down nominal dollars on the day, it's the % that's the important thing. You have one asset with a 70k handle and another one at a 4k handle.

ya my friends are like .."but shib is so cheap per coin "

if you put in 10k and the coin moves 30 percent ..it doesn't matter what the price was

 

[LiveInTorontoPartyInMontreal]

ya my friends are like .."but shib is so cheap per coin "

if you put in 10k and the coin moves 30 percent ..it doesn't matter what the price was

You're hoping it just loses 1 or 2 decimal points ! LOL !

 

[stinkynuts]

Man, this is going nowhere...

 

[stinkynuts]

Apparently so many people were buying Bitcoin using leverage, causing the market to overheat. The correction wiped out hundreds of millions of dollars in leveraged positions. Should be healthy in the long run.

 

[LiveInTorontoPartyInMontreal]

The leveraged traders cause the wide swings and going forward the swings will be wider given the nominal prices of BTC will be larger. I'm glad I'm asleep during a lot of these crazy whipsaws, $ 64,539 (3:20) am to $ 68,350 ( now ).

 

[stinkynuts]

In addition to margin, volatitlity increases on weekends since there is less volume. Also there is probably price manipulaton going on. A lot of the prices are being driven down on purpose. Primariily so that it can be bought at a cheaper price.

https://www.cnbc.com/2021/06/10/heres-why-cryptocurrency-crashes-on-the-weekends.html

 

[LiveInTorontoPartyInMontreal]

I didn't start following Bitcoin until about the last six months of the previous bull run, and i put in some of my extra cash in Bybit/Kraken exchanges and with all my financial markets knowledge I tried my hand at leverage/day trading. Like all novice daytraders, I got blown out of the market trying to outsmart the market and Mister Algo AI trader. I don't think you can consistently beat Mister Algo since he's programmed every single market variable. Moral of the story, just think like the Algo and take less profits on his swing trades. It's still fun to watch Bitcoin rally when you're long and a fast market is happening.

 

[LiveInTorontoPartyInMontreal]

This is not financial advice, I am not a Financial Adviser, just a coin I have a small position in and when I first took notice of it around the FTX fallout , a few TERB members told me flat out that I'm on drugs ( WTF was that ? ). Many legit analysts/ TA's calling for a $ 625 to 1,000 price target by bull end, I'm guessing mid 2025 area. I think this time last year it was still affordable in the low $ 20's. Everyone on this thread is bullish on certain coins that they fall in love with, can't we just root for all of us to make some coin ?

 

[sprite09]

Man, this is going nowhere...

panic much ? perspective ...even with yesterday's drop, we were still 65k

alts went down double digits but honestly they just formed higher lows

 

[LiveInTorontoPartyInMontreal]

On the way down BTC crashed through every recent new support mark, note $ 67,433 where it's lingering and the bears and bulls having their tug of war right at this mark in the day. Usually if it doesn't blast thru and trade higher, the bears take BTC down for another leg. Enough dip buying to help it blast thru ?

 

[LiveInTorontoPartyInMontreal]

They don't publish the numbers till the next day, but I'm guessing the Black Rocks and Fidelity's doing the buying after their sales guys pitching BTC sales prices. I saw $ 66,600 swing low .

 

[stinkynuts]

Bitcoin has been stuck in the 60s for a long time now. Hopefully it will break out soon and move onto the 80's and beyond.