ATH

CointestMod

#Ethereum Con-Arguments Below is an argument written by excalilbug which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclaimer: I support ETH wholeheartedly but nonetheless I can see its flaws > > ​ > > * **Decentralized? Hmm** > > The main flaw of ETH is that it’s probably not as decentralized as many people think. This is due to two reasons: > > **1. 72 million ETH was premined and gifted to investors/founders** > > Before ETH was launched in 2014 its founders approached investors and promised them coins for backing the project. This way 72 million coins were sold/given to investors and founders which is much more than 50% of the circulating supply today! (circulating supply on 29.03.2023: [122 millions](https://www.coingecko.com/en/coins/ethereum)) > > Of course we can presume that some of the coins were sold throughout the years as ETH price went from ICO’s 0.31$ (sic!) to almost 5k dollars at ATH in 2021 (a modest 16,000+ x return of investment if you’re wondering). But what if Ethereum Foundation and vanilla investors who are close with them manipulated the market (which is very possible to do when you own such a high % of all coins) and sold tops and bought lows to own even more coins? > > This is obviously just a speculation but the initial premining of coins is a fact and everyone should be aware of this. It might make you look at the POW->POS switch form a different perspective knowing that PoS is very beneficial for those who already have many coins (the rich get richer) > > **2. 1/4 of nodes run on Amazon servers** > > If you go on this site: [https://aws.amazon.com/blockchain/](https://aws.amazon.com/blockchain/) you can see that Amazon boasts that 25% of ETH nodes run on their servers. I think 25% is a very significant number. Can Ethereum be a truly decentralized blockchain if so many nodes use Amazon Web Servers? Is the motto “[empower the little guy, screw the big guy](https://www.cnbc.com/2021/05/18/why-ethereum-founder-vitalik-buterin-got-into-crypto-bitcoin.html?)” true if the little guys use the big guy’s service? I don’t think so > > Speaking of nodes… > > ​ > > * **It's so damn expensive to run ETH node!** > > To run a full ETH node you need 32 coins which even during this bear market amounts to almost 60k dollars: [https://ethereum.org/en/run-a-node/](https://ethereum.org/en/run-a-node/) > > So much for the empowering of the little guy! > > You can of course join pools but that’s not the same. Plus you risk losing your coins if the pool you joined turns out to be a bad actor. You have to take a good look at the pool before joining it and find out if it's trustworthy, transparent and what's its track record > > Speaking of high prices… > > ​ > > * **ETH gas fees are pain in the… wallet** > > As you probably know, all transactions on Ethereum blockchain are paid in ETH (gwei). There is nothing strange about that but since ETH puts a lot of focus on security, it means that storage and processing power costs more. And the more popular ETH becomes, the higher the cost of storage and processing power becomes = the gas fees are more expensive. It is not easy to solve this problem. Just look at Solana – it has very small fees but its security has more holes than a Swiss cheese. This is why there are second layer (L2) solution > > But layer 2 solutions have their own problems and they reduce security > > Speaking of security… > > ​ > > * **ETH might be deemed a security** > > Since the transition from PoW to PoS, Gary Gensler argues that ETH is a security. He uses [Howey Test](https://www.investopedia.com/terms/h/howey-test.asp) in his argumentation. But it doesn’t really matter what argumentation he uses. As long as Gensler holds any power, Ethereum and all PoS coins are in danger. Especially since the New York Attorney General’s Office (NYAG) filed a lawsuit against KuCoin. They said that KuCoin offers trading pairs for coins, including ETH, that are securities ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p793/top_coins_ethereum_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1c9woxr/daily_crypto_discussion_april_22_2024_gmt0/).

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

arensurge

There is usually around a 20% drop from the local high near the halving. However it seems that there's already been about a 20% drop prior to halving. Makes me wonder if people pre-empted the drop post halving and decided to get out before the halving this time.... maybe the drop has already happened and we don't drop this time. Maybe everything will be shifted back earlier this time, for example we broke the ATH of last cycle much earlier than expected.

1Lost_King1

A new ATH is imminent...

phaattiee

50% from ATH driven by supply demand... The DCA average of BTC is the best returning asset of the last decade+ Even if network fees meant the price was double in btc vs fiat, I started stacking in 2018 the BTC I bought then is now worth 20x what it is now which means even double the fiat value, to me its a 10th of the price... BTC gets you thinking long term... the money I buy with it now will be worth more in 5 years... even if from a new ATH it plummets 50% from my average it still has more purchasing power... You're forgetting its plummeting 50% after already increasing by 300%... When you look inbetween the periods of high volatility it is overall trending upwards and never going lower than its previous lows... That -50% is still worth more than the last -50%... Short term mindset.

escodelrio

Historical Bitcoin prices for today, April 22nd: 2024 - $65,850 2023 - $27,814 2022 - $39,709 2021 - $51,730 2020 - $7,113 2019 - $5,347 2018 - $8,807 2017 - $1,241 2016 - $445 2015 - $234 2014 - $488 2013 - $127 2012 - $5.2 2011 - $1.40 **Additional Stats:** Bitcoin's current market cap is $1.30 trillion. Bitcoin's current block height is 840341; with the average block time for the last 7 days being 10.04 minutes. There are currently 18,495 reachable Bitcoin nodes. Bitcoin's average daily trading volume for the last 7 days is 90,017 ₿. Bitcoin's average daily number of transactions for the last 7 days is 489,655. Bitcoin's average daily hashrate for the last 7 days is 619 exahashes per second. Bitcoin's average daily price from 18-Jul-2010 to 22-Apr-2024 is $11,139. Bitcoin's average daily price for the year 2024 is $56,108. 1 US Dollar ($) currently equals: 1,519 satoshis; making 1 penny equal 15.19 sats. There are currently 19.69M ₿ in circulation, leaving 1.31M to be mined. There are currently 2.52M ₿ held by companies, governments, DeFi, and ETFs, representing 12.79% of circulating supply. There are currently 53,562,945 nonzero Bitcoin addresses. Bitcoin's current block reward is 3.125₿, which is worth $205,781 per block. The next Bitcoin halving is anticipated on 26-Mar-2028; the block reward will fall to 1.5625₿. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 10.70% from the ATH.

Oheson

No it will not surprise us. It will do exactly what it has done every cycle. The fact it reached ATH prior to the halving did not change the market structure whatsoever. Although there will be slight differences every cycle, the cycle will always be the same. It will never be different.

tbkrida

You realize China already tried to ban mining, the price went down, miners moved to different jurisdictions, price went back up to ATH, and now China is trying to get involved in the Bitcoin space again, right?

Quixote0630

Didn't we go down at first, then smash ATH a little while after and never return to pre-ETF levels? The ETFs were overwhelmingly positive.

I_Hate_Reddit_69420

because you are the one keen on taking inflation into account when measuring the ATH, which you cannot do since there is no one measure for inflation. CPI isn’t the only measure of inflation. Please take a economics 101 class. Have fun staying poor.

bbiittccooiinn

Bought more. As should you, especially under the ATH.

I_Hate_Reddit_69420

So tell me when exactly bitcoin will hit all time high then sherlock, give me a number for all currencies in existence please, and I want them both in CPI inflation as well as RPI and CPIH. Throw in the shadowstats while you’re at it. So let me know when you calculate all these thousands of different ATH levels so I know when to crack one open and celebrate /s

Fit-Poet6736

I would recommend $Nexo - very serious company, that survived all the bear markets and are pushing new products and assets on their platform daily, long-term potential is \~$10 (previous ATH was $4)

MaximumStudent1839

No, I am comparing in metric the space cares about, not all kinds of different things. Hodlers care about BTC purchasing power, that is why it is called SoV coin. Only short-term traders care about non-inflation adjusted ATH and define it as bull by that. What kind of SoV coin can’t keep its real purchasing power over time? That is why you can’t call it bull until it breaks its inflation adjusted ATH. The lira example made it clear. As a store of value token, BTC lost purchasing power, even though you see it making new ATHs against lira in 2022/2023. You obviously don’t understand the term of base year to measure inflation adjustment. Doesn’t matter if you use CPI adjustment, GDP deflator or what not. BTC didn’t return to its 2021 peak purchasing power.

I_Hate_Reddit_69420

You’re comparing all kinds of different things here. Bitcoins PURCHASING POWER is not at an all time high, but it’s PRICE is. Also with the lira scenario: It made ATH in the lira way before it made it in the USD. Just like it made a ATH in every other currency before it made one in USD. It’s just that if we’re discussing Bitcoin price in a general sense you use the dollar, since that is the world reserve currency, not the lira, not the euro, not the yen: USD You do not adjust a price to inflation if you’re just comparing whether or not it broke a previous all time high, since the previous all time high is measured comparative to something else. It broke ATH compared to dollar, but the dollar happens to buy less now than it did in 2021, but you can keep making this comparison an infinite amount of of times if you want to keep comparing things to other things. Many would argue CPI inflation isn’t even accurate measure of real inflation since that is also just determined based on a basket of goods that keeps changing.

MaximumStudent1839

You said all that matter is, “comparing the number to the previous ATH in the currency of your choosing”. 1) I chose lira. Then you say it doesn’t count because you claim “dollar is what generally used when talking about asset prices in global level.” 2) I chose inflation adjusted dollar value, which global institutions/govt do actually use to measure real networth. But you said “adjusting for inflation is not a thing”. Your comment of “currency of your choosing” is real full of BS. It is obvious you already decided a narrative in the first place and picked a random metric to make it sound “objective”. GTFO with your horse shit.

BackgroundLeading986

Hi all. So the halving has happened and no spectacular price rises and ATH are behind us. Do you think Crypto will crash again soon? Last bull didn't last more than few months, this one has already been few months, and nothing spectacular happened, no hype as with last bull. Do you think it will crash again soon?

MaximumStudent1839

> That’s irrelevant to the fact if we’re in a bullmarket or not. Of course, that is relevant. In bear markets, you could easily have prolonged bear market rallies, but they wouldn't make new ATHs. Otherwise, your loose definition of an uptrend would mean you have many mini bull markets in a bear market. And that would make the bull and bear distinction completely meaningless. > It’s purely comparing the number to the previous ATH in currency of your choosing,  So Zimbabwe and Turkey are having bull markets every day? Hm,.... that doesn't vibe with what ppl mean. Bull means ppl's real purchasing power is increasing over time based on their asset net worth.

I_Hate_Reddit_69420

That’s irrelevant to the fact if we’re in a bullmarket or not. Also adjusting ATHs for inflation is not a thing. It’s purely comparing the number to the previous ATH, not whether or not there was a lot of inflation or not.

Attygalle

Two things that people should realize: 1. after every next halving you see diminishing returns, So no, 721% is not realistic. 2. Don't wait for the exact ATH, even if you would somehow know that exact number, chances are you're not going to be able to sell at the exact top for a number of reasons. After the ATH in nov 2021 Bitcoin lost over 20% within a month and almost halved in price in about two months' time. As we all know, didn't recover until two years later. Don't chase ATH. You will be in the next bear market before you know it still HODLing. If that's your goal - HODLing no matter what - that's obviously fine, but then you wouldn't care about this article anyway.

StreetMeat5

They’re referring to btc never dipping below previous ATH after a halving.

OderWieOderWatJunge

3 years ago: # Bitcoin never went below old ATH: will history repeat? Anwer: No, it did not.

FX_King_2021

I dont know why, but I have this $150k stuck in my head lol I think this will be ATH for this halving. So 250%.

angelafischer

Recovering price is very subjective. It always depends on when you start buying. My rule is never to buy a lot when the price is nearer or hit ATH

ResponsibilitySea327

What it hasn't done is made a new inflation adjusted ATH.

whitenoise2323

Then why was ATH the only actual point you brought up?

ResponsibilitySea327

We are well still below inflation adjusted ATH from 2021. Outside of BTC's massive appreciation prior to 2021, it hasn't been a good hedge.

fan_of_hakiksexydays

In the last bear market we broke below the previous halving for the first time. I don't think there's much science behind this. Breaking below or above at some point or another doesn't seem to mean much. Plus, we haven't truly broken above ATH, since we had all that extra accelerated inflation. We've only been as high as $64K inflation adjusted.

MaximumStudent1839

Hard to call this is a bull market when no one has broke last ATH, once you account for inflation.

MaximumStudent1839

Who broke ATH after you adjust for inflation since 2021?

BenniBoom707

Most coins are still down 80-90% from their ATH. This is nothing…. Really. Until you start seeing JPegs of Monkey drawings going for millions of dollars, you can consider that we are still in the technical Bear market overall.

Keeting

Stock market hit ATH like a month ago. And they’re never going to let it crash in an election year.

MarcToMarket101

It’s not pegged to Bolivar or USD? Op was asking about BTCUSD? Why did COCOA hit ATH’s? Because of USD inflation?

LeSeanMcoy

Altcoins tend to reset every "cycle." Stellar was an altcoin from 2016. It didn't even beat ATH during 2020. I would not touch it in 2024. People like new altcoins, typically.

distressedacorn

I'm not expecting any serious action for at least six months. It's not a true bullrun until blue chip alts regain previous ATH.

Creamlike2050

Exit liquidity for who? Our ATH was at 2.5 million MC and all the OGs are still there. Dev burned 100k of his own money for this project. Don't fud brainlessly please!

hdrive1335

A year is pretty optimistic considering UST marketcap at LUNA ATH was $19.5B, and it managed to cause a chain reaction that took down multiple large organizations and put us in a nearly 2 year bear. Tether's mcap is almost 6 times as large, and far more prevalent.

Awkward_Potential_

I think the bubble would be bad. But it would get back to ATH within a year. These bubbles are only opportunities now.

Objective_Digit

>they recover as fast, too ETHBTC has never recaptured its ATH from 2017.

harvested

Show me where tulips recovered and rally to new ATH years later, cycle after cycle 🤡

moleculariant

Excitement for the halving *is* the resulting dip. It's time for you to get in, or get in more. HODL until the next halving (yes, four years) The price will have increased. Now that you've seen it hit ATH, decide *then* if you want to sell for Fiat, use your sum as leverage, or get the Lambo, etc.

uncapchad

Same rationale most seem to be using - based on the 3 previous halvings. Headlines like this create magical thinking though. He says *about 1 year after the halvin*g to reach next peak/ATH. I think we all agree the data to predict this is pretty slim - 3 halvings. We have also seen massive drops after halvings before it hit the next ATH. That bit is never mentioned and I find it annoying because it can create so much disillusionment.

DecoupledPilot

Yea, I did the mistake of putting too much into fomo last bull. So my averaging down achieved as much as making my average lower than half of the ATH... But let's see.

Creamlike2050

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eyekantbeme

I'm talking about when the ATH will be. That's not til next Christmas so that's. Like 16-18 months away.

No_Investigator3369

my bad.....from not of. English is a trick language. what about 70k * 10% = $7.......deduct that from the last approx ATH of $70k and $63K is my All time low prediction after 3 months from now.

escodelrio

Historical Bitcoin prices for today, April 21st: 2024 - $65,243 2023 - $27,265 2022 - $40,482 2021 - $53,820 2020 - $6,843 2019 - $5,244 2018 - $8,923 2017 - $1,250 2016 - $449 2015 - $234 2014 - $495 2013 - $119 2012 - $5.3 2011 - $1.20 **Additional Stats:** Bitcoin's current market cap is $1.28 trillion. Bitcoin's current block height is 840207; with the average block time for the last 7 days being 9.88 minutes. There are currently 18,914 reachable Bitcoin nodes. Bitcoin's average daily trading volume for the last 7 days is 99,226 ₿. Bitcoin's average daily number of transactions for the last 7 days is 465,607. Bitcoin's average daily hashrate for the last 7 days is 629 exahashes per second. Bitcoin's average daily price from 18-Jul-2010 to 21-Apr-2024 is $11,128. Bitcoin's average daily price for the year 2024 is $56,023. 1 US Dollar ($) currently equals: 1,533 satoshis; making 1 penny equal 15.33 sats. There are currently 19.69M ₿ in circulation, leaving 1.31M to be mined. There are currently 2.52M ₿ held by companies, governments, DeFi, and ETFs, representing 12.79% of circulating supply. There are currently 53,508,500 nonzero Bitcoin addresses. Bitcoin's current block reward is 3.125₿, which is worth $203,883 per block. The next Bitcoin halving is anticipated on 26-Mar-2028; the block reward will fall to 1.5625₿. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 11.52% from the ATH.

dreampsi

He bought ze ATH?

soyarriba

What’s overall sentient in here? I’m aware of a theory that it’s about to drop a bit post-halving and then back up to ATH?

Killer_Stickman_89

Lol no but it raises the next ATH

Digital_Scarcity

I'm gonna tell you something you and everyone else needs to hear: At the time of purchase, BTC will always *feel* expensive. Buying at ATH? yeah, expensive. Buying at annual low? You're telling yourself "Geez, what if it goes lower?" Always feels like you're lighting money on fire or something. You gotta get over it. A way to get over it, is to gain enough conviction about what BTC is and what its going to be. Study. With conviction and humbleness, you can buy at any time and any price. You know that fiat is melting garbage anyway.

godisdildo

t’s easy to think you’re early to something that you’re late to, too.  “Sure as shit” is just not true when we’re at ATH. In fact, of ALL the possible times to call a good entry point, the top is the worst one.  Anyone, we’ve each done our part here. As you were. 

fan_of_hakiksexydays

People said the same thing in the last bear market. Bitcoin never went below the previous bull cycle ATH. Yet Bitcoin went below 19k in the last bear market. ATHs serve as a metric on their own, not as something to measure other unrelated things. Breakouts happen after the exit of a bear market, that's just the natural reaction of a volatile market.

ImmediateShape4204

I hope you guys filled your bags of DOGE and SHIB during the bear. These puppy are hot tamales. DOGE back to 0.50 on the next push, SHIB to ATH.

Frequency0298

inflation-adjusted $80k ATH

turpin23

Give it a year. Price has never suddenly mooned right after halving, and this time there was a bull run to the previous ATH right before. I expect a bull run and new ATH this December, so maybe only 8 months, but that's just a guess. Give it a year.

qinggd

More posts in March cause moons reach ATH.

Mountain-Ad326

XRP sucks. It wont ever take off. Why would it? Has a supply of 100b heavily owned by the people who magiced it out of thin air and dump it on you every 20% pump. Never hit a new ATH last cycle, has next to zero adoption in banks & been around since 2013, keeps hitting new lows against its BTC value.

OzManCumeth

Right like this woman is a whole ADULT too. Fucking weird. She also ignores the fucking possibility that they would have sold much before ATH. Her math is also wrong. Just a complete asshat all around b

user_name_checks_out

The pattern is very clearly there in the past. Nobody can predict the future. This cycle has already broken the pattern in that bitcoin hit an ATH before the halving. That has never happened before. Maybe this cycle will break the pattern in other ways, maybe there won't be another ATH. But in your comments in this thread you seem firm in your beliefs. You follow in the footsteps of a long line of others who thought for sure that they could predict the future. Many of them got rekt.

CritterBoiFancy

Apple was valued around $0.93 per share (adjusted price for splits that later occurred) when that movie released. $100 (after splits) would have gotten you ~107.53 shares which is ~$21,275.27 when Apple reached ATH at $197.86 per share. Don’t get me wrong, that’s massive growth but far from turning a $100 into a million.

gr8ful4

> It's only when the tide goes out that you learn who's been swimming naked. *Warren Buffett* ATH prices and halving hype helped them with new inflows.

StumbleMyMirth

Nobody knows what will happen. 3 “cycles” really isn’t enough data points to draw any meaningful conclusions, especially given the macro environment was so different during each. This is the first time ETFs existed, the first time it was at an ATH (basically) going into the halving. All we “know” is that it’s more likely than not to keep going up over the long haul, but even that isn’t a certainty as that requires demand to increase indefinitely. We’d like to think that will be the case but nobody can see the future.

MossCastle

Bitcoin usually hits a new ATH around 500 days after the halving.

M1st3r51r

Post-halving ATH historically occurs around the 15 month mark

unpopularpuffin9

When there's a gold rush, you don't buy gold. You invest in the company selling shovels. I did the same thing when BNB was 9$, and that paid off. Although I lost it in options trading. Time in the market > timing the market. Albert Einstein: "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it." I love how the system to set up - to favour compound interest. I get paid out weekly, I can move it to defi, and compound it. Currently, I'm compounding weekly and watching my investment grow so quickly is addicting, frankly. I have a lot of faith in CDC. In a recent interview (Check Kris's twitter) he said they have all the licenses necessary to launch in Korea, one of the hugest markets besides the US. They are build on a solid bedrock of compliance. I've used the help in the app about half a dozen times, and it's been amazing. I saw the proof of reserves, and their behaviour in the bear market. They not only weathered it, they came out STRONG. Plenty of upside potential. It's not a top ten coin yet. Three things I look at when I buy a coin. 1. Do I know the team? 2. What is the utility? Does it have a wallet? Can I stake it? Does it actually work and do what its supposed to do? Is it defi compatible? Is the supply finite? Could I pay for a coffee with it? In all cases, yes. The Visa is the best in the market, for icy, and the defi wallet is fantastic. 3. What's the upside potential? Is it already at ATH, or does it have plenty of room to grow? This will be exciting. Bitcoin is a fun asset, but putting all my capital into a barely top 30 coin is going to make this next year a thrill ride. 2.71.25 There's plenty other reasons, but these are the ones that I factored into my decision. Feel free to tell me I'm stupid, because I probably am. But this'll be a fun year. If there's enough interest, I'll do monthly updates.

clicksanything

The whole subs laughing at you in this thread because your argument makes no sense to begin with. You "firmly believe" theres a central authority holding bitcoin's price movement flat yet have given no concrete example as to how and why. Oh but you got a "feeling" something is not right because you have a TradFi background.. All bitcoin halvings have historically been anticlimactic, nothing really happens on the day of. Things pick up 12-18 months after, but this time we've already hit new ATH before halving so all predictions and models are out the window now. Regardless things still come down to supply and demand. Show us some verifiable proof that there is some semblance of control, otherwise you're just spouting FUD for no reason.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Tony__Man

Yeah this is a Bitcoin bull market. Alts are just carried by BTC at point. Solana/Eth didn't even go to ATH.

John_Crypto_Rambo

Previous ATH break is historically where you do that.

Hodlgang_J

We hit an ATH before the halving, something unprecedented. What will happen in this post halving period will probably be novel as well.

escodelrio

Historical Bitcoin prices for today, April 20th: 2024 - $63,859 2023 - $28,241 2022 - $41,368 2021 - $56,483 2020 - $6,834 2019 - $5,290 2018 - $8,867 2017 - $1,238 2016 - $441 2015 - $224 2014 - $499 2013 - $127 2012 - $5.3 2011 - $1.10 **Additional Stats:** Bitcoin's current market cap is $1.26 trillion. Bitcoin's current block height is 840075; with the average block time for the last 7 days being 9.55 minutes. There are currently 19,026 reachable Bitcoin nodes. Bitcoin's average daily trading volume for the last 7 days is 115,686 ₿. Bitcoin's average daily number of transactions for the last 7 days is 447,917. Bitcoin's average daily hashrate for the last 7 days is 650 exahashes per second. Bitcoin's average daily price from 18-Jul-2010 to 20-Apr-2024 is $11,117. Bitcoin's average daily price for the year 2024 is $55,930. 1 US Dollar ($) currently equals: 1,566 satoshis; making 1 penny equal 15.66 sats. There are currently 19.69M ₿ in circulation, leaving 1.31M to be mined. There are currently 2.52M ₿ held by companies, governments, DeFi, and ETFs, representing 12.79% of circulating supply. There are currently 53,438,406 nonzero Bitcoin addresses. Bitcoin's current block reward is 3.125₿, which is worth $199,561 per block. The next Bitcoin halving is anticipated on 03-Mar-2028; the block reward will fall to 1.5625₿. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 13.40% from the ATH.

Intelligent_Page2732

Thanks for giving an AMA! Very much appreciated! For my question, usually the BTC is the official kick off to the new bull run. Right now BTC is crabbing around 20% below it's recent ATH, I wonder if we will we see the usual drop off in the market after a halving or this time will be really different with BTC ETF's scooping up the dips and the drop off might not be that bad if all?

Walternotwalter

Cycle ATH should be next year.

__redruM

What if this is the moon? If you bought 1 year ago, it pretty much is. If you bought any time before that except the ATH of 2022, it is. Honestly this is at least the third moon.

The__Lemming

Odd how it takes months and years between the halvening and new ATH, but only hours/days between Dow Hones setting a new ATH and Bitcoin setting a new ATH. It's almost like the halvening really only affects the huge million dollar mining operations which only makes up a few percent of daily volume, and everyone here has bought into the narrative of the halvening. But what do I know... **BTC to 100K!!!!!!**

squirtologs

This statement is nuts, ‘special’ people think this way and then buy ATH. Every 2016 blocks the dificulty is adjusted to ensure that on avarage block is mined every 10 minutes regardless of miners activley minning. Miners receive lower reward from minning, thus in LT decreasing new supply available to market. Minners need to accumulate BTC during winter and then release the new supply to market at the best price to finance future operational costs. The minners will make a lot of money with people like OP.

2minuteNOODLES

I'll be waiting for 4x ATH to DCA out.

Buydipstothemoon

I bet this message will trigger 1-2 months before or after BTC ATH.

squirtologs

It drops 10% because BTC is oversold over that period ;D some people are taking profits and someone ‘special’ is buying at ATH. Sell high buy low and make money.

Kingjames23X6

Expect a dip people who mine bitcoin are now getting less rewards, so some will sell off I still think it’ll go to 52-58 before the having effect actually happens but it’ll skyrocket in the fall in my opinion due to the popularity and new interest in btc by multiple corporations. ETFs everything I expect 100k by the end of the year worst case 85k ATH

Buydipstothemoon

The ETF hype somehow makes it really different this time. This was the first time we had a new ATH before the next halving. Can't wait... I'm excited for the upcoming year / next year.

mcmull11

It’s paying me about 3k a week right now lol. Just imagine if it gets back near ATH again. Lol.

Buydipstothemoon

When the Covid crash in March 2020 came, ADA bottomed to 0.03 (last ATH was above 1$ at this point) after that it peaked at 3$. Never say never.

piggleii

Woohoo! Only 84% from ATH now.

Dettol-tasting-menu

In 1913 one oz of gold cost $18.92. $4,000 back then was a great sum of money. An average house cost roughly $700. A grand nice two story house sold for $1,500. And even if you had $4,000 back then (which is equivalent to 5, 6 average houses) and you put it all on gold, you could have bought 211.4 oz of gold. At $2,400 an oz ATH price today, that’s still just $507k in today’s dollar. Barely enough for a half decent house depending on where you live. Definitely not the 10 million your husband claims.

Psychological_Put237

I've got a magical ATH in my pants for your mom

LiveCat6

Welcome to bitcoin little one. If you just open a trusty price chart overlayed with the past halving dates you'll see that at every halving there is a drop in price immediately after, followed by a steady build to a new ATH over the following year. That's why. Because they looked at the price chart.

fan_of_hakiksexydays

You can't really look at when we go over or under an ATH since the cycles taper off. You have to look at the actual ratios. Something I think a lot of people learned in the last bear market. People also said we can't go below the previous ATH, and look at the last bear market, it went under $19K. So don't be surprised if we have a breakout above an ATH. The ratio is still correct. Keep in mind that it does seem like the previous bull market likely got cut short at the time because of obviously all the stuff that happened at the time, and then followed by the war in Ukraine and then the stock market correcting, and a mini recession. Keeping the price down and starting the bear market a little prematurely. So it was more likely heading to at least around $80k, but we'll never know for sure what the actual ATH would have been. On top of that, with unusually higher inflation, $74K is actually the same as $64K in 2021. So even if breaking above the ATH doesn't really matter, it looks like we likely haven't actually broken above it.

whatsaburneraccount

IMO, alt's have 0 chance hitting ATH's unless interest rates come down a ton. 2021 was a special combo of generational low interest rates, paused student loan payments, stimulus checks, massively appreciating assets, etc. Just my thesis.

lycheedorito

It's not reallya new ATH because of the insane amount of inflation that occured between that time.

rsa121717

It also hit ATH in Jan 21 then started slowly dropping… until it stopped slowly dropping and did a 2x. Can cherry pick all day

No_Investigator3369

If you take the bitcoin price at the time of halving and multiply it by the new block reward, this number has been exceeded in all prior post halving ATH's. Applying that same math to todays price, I'm expecting no less than $200k

BillFraserColorado

A lot of these posts remind me of the last bull-run. BTC hit it's ATH and then slowly dropped 75%. It recently hit a new ATH and has been slowly dropping since. Is that a reality?

AAAdamKK

[Halving confirmed and new ATH!!!](https://youtu.be/dQw4w9WgXcQ)

AmongTheElect

It's fine if you're a lotta-token holder, though I think you're being pretty optimistic to think there's a 20x left with that. Especially when you consider nobody is going to be selling at the perfect top and either missing big gains (especially in small caps) or eating 20% or so before getting out, I'd guess that bag is looking like a 5-10x. Solana is only about 25% away from its previous ATH right now, so even considering a new cycle will have it higher than that, still that's only what, a 3-5x top from here? Pyth is basically a billion dollars already, so that's already a large-cap in my book. And it's not that I hate the project or anything, but I doubt it's so special that it's a $20b peak valuation. To sell at a 15-25x but then accounting for imperfect market timing which is a given for all of us, you're probably realistically needing a perfect-timing 30x or so, and you're just not going to be getting that with more than half your bag in large-cap tokens. Heck there's probably not a 30x left in a lot of small cap tokens anymore. To get where you're hoping to go, I think you really would need to take bigger risks and be looking to have at least 50% into sub-500k tokens and the remainder in sub-1b ones. I think you're being overly optimistic about a somewhat conservative bag.

Own-Historian-2681

But go back up for a new ATH?

KateR_H0l1day

It’ll definitely outperform BTC from here if we compare the two future ATH’s, but when you buy and when you sell are the most important factors regarding crypto.

AmbiguousBump

We’ve hit a new ATH every cycle, so this is an obvious no.

GoldenBeard32

Either nothing, or drop from selling the news. Hopefully this seasons ATH 12-16 months from now.