Bitcoin to skyrocket in 2024

[Valcazar]

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?

 

[stinkynuts]

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.

View attachment 347882

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.

 

[Valcazar]

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.

Noted.

 

[CollinBust]

The government lets us trade Pokémon cards amongst Pokémon card collectors…. That is what you can expect from Bitcoin and the rest.

not sure it's looking so promising this year due to all the political issues ?

 

[stinkynuts]

not sure it's looking so promising this year due to all the political issues ?

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.

 

[LiveInTorontoPartyInMontreal]

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 ).

 

[stinkynuts]

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 ).

View attachment 348120

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%.

 

[rajput]

 

[sprite09]

perfectly normal for risk-on assets..Intel goes down almost 30 percent and eth only 20?

volatility is the price of admission in stocks and crypto

 

[stinkynuts]

perfectly normal for risk-on assets..Intel goes down almost 30 percent and eth only 20?

volatility is the price of admission in stocks and crypto

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.

 

[stinkynuts]

bitcoin hits new low of 49k, and this could just be the beginning

 

[stinkynuts]

It's incredible how slow the Fed has been to react. They were still printing money like crazy even after inflation had spiked. Now they are barely acknowledging that they a rate cut could be on the table in September, when it's been clear that inflation has come down to 2.5% from nearly 10% , and the economy has been showing cracks.

 

[rajput]

 

[rajput]

TLT looking good

 

[stinkynuts]

QQQ down almost 6% in premarket. Many tech giants down 10%. This is bad.

 

[sprite09]

only newbs panic sold ... be vigilant of key levels of support but until it breaks it's still good

 

[Jubee]

It's incredible how slow the Fed has been to react. They were still printing money like crazy even after inflation had spiked. Now they are barely acknowledging that they a rate cut could be on the table in September, when it's been clear that inflation has come down to 2.5% from nearly 10% , and the economy has been showing cracks.

The Feds lol

 

[stinkynuts]

A lot of people, including the bullish and experienced Bob Loukas, are having some doubt about Bitcoin. A drop to 49k was defiintely an aberration and unexpected, even given the selling off of the stock market (which recovered but Bitcoin did not).

Many are saying if Bitcoin cannot recover in the next few weeks, it's very bad. Another huge crash may be in the cards, so brace for impact.

x.com

x.com

If after the fed cuts rates, and we are in late October, and Bitcoin still hasn't rallied yet, it's a huge red flag. So far Bitcoin is nowhere near the pattern in the previous 3 cycles after having. In all 3 previous cycles, Bitcoin has either skyrocketed or gone up significantly since the halving up to this point.

Bitcoin Cycles Comparison

Comparing the performance of Bitcoin across different halving cycles

www.bitcoincyclescomparison.com

Normally, Bitcoin does its own thing, and is pretty independent of external factors. However, it seems lately it is more sensitive to external events. This could be bad for Bitcoin. ETF buyers are a totally different breed from the early Bitcoin buyers as well, and are probably going to sell much more readily rather than hold long term.

The way I see it, the fed needs to cut rates aggressively before risk-on investors start pouring money in and Bitcoin can rally.

 

[sprite09]

A lot of people, including the bullish and experienced Bob Loukas, are having some doubt about Bitcoin. A drop to 49k was defiintely an aberration and unexpected, even given the selling off of the stock market (which recovered but Bitcoin did not).

Many are saying if Bitcoin cannot recover in the next few weeks, it's very bad. Another huge crash may be in the cards, so brace for impact.

x.com

x.com

If after the fed cuts rates, and we are in late October, and Bitcoin still hasn't rallied yet, it's a huge red flag. So far Bitcoin is nowhere near the pattern in the previous 3 cycles after having. In all 3 previous cycles, Bitcoin has either skyrocketed or gone up significantly since the halving up to this point.

Bitcoin Cycles Comparison

Comparing the performance of Bitcoin across different halving cycles

www.bitcoincyclescomparison.com

Normally, Bitcoin does its own thing, and is pretty independent of external factors. However, it seems lately it is more sensitive to external events. This could be bad for Bitcoin. ETF buyers are a totally different breed from the early Bitcoin buyers as well, and are probably going to sell much more readily rather than hold long term.

The way I see it, the fed needs to cut rates aggressively before risk-on investors start pouring money in and Bitcoin can rally.

it takes 3-6 months after halving... relax, we'll get there

the new ATH was a fakeout and really BTC should be trading around this level IMO

new ATH should be around November, if history is any indication

 

[stinkynuts]

Bitcoin recovering very nicely along with the market, now above 60k. We can breathe a sigh of relief!