BTC

StartThings

All networks must sooner or later allow wallet migration from ECDSA to a quantum resistant wallet algorithms. People who won't migrate would be at risk. If we want this on mainnets by 2028 we need to start working on this now. If we are too late for this. Which is possible knowing how stupid humans can be. Then North Korea will send every single ECDSA cryptocurrency (including ETH and BTC) to the actual 0 by stealing all the money and extracting all liquidity to the top quantum resistant cryptos. Tick tock. And the "funny" part? If Satoshi isn't alive (or incapable (no key, etc)) of migrating his 1 mil coins. Then the races to Satoshi's wallet begins. **The first to have this quantum capability wins 1,000,000 bitcoins even post migration.**

happygocrazee

With the price so low, isn't this exactly when you'd want to leverage? We know the ceiling, and unless one thinks that BTC is actually likely to just disappear entirely in the near-term, it would be naive to think it's not going to go hit that ceiling again and likely bust through it, as BTC is wont to do. Personally, I'm not a big crypto believer myself, but I've been paying attention to it for long enough to know better than to underestimate its staying power. I remember people saying it was pointless and doomed and overinflated back at $9k. If what you meant was just to hodl and ride this out, yeah totally. But in this time of volatility, if one is fortunate to have any raw cash to spare, this is the time to make bank, right?

NaramTheLuffy

I always get confused when I look at BTC/EUR instead of BTC/USD lmao (I'm in europe as well)

IsItSafe2Speak

I'd wait because it might get down around 75k. If anything DCA little by little. The difference of a few thousand dollars in BTC price doesnt reflect a huge difference when you purchase. Unless you are buying half or whole coins.

NaramTheLuffy

As if a reddit post is going to do any dent on the price of BTC lmfao. You missed the point. BTC is going to go up beyond 120k sooner or later.

Initial_Alfalfa243

So... BTC and ETH are the future or not?

cryptogirlaz

I feel the same. The Thanksgiving dinner would be much more pleasant if BTC was 110K+..but it is what it is 😌

little_einschtein

Sell lol ?? Was I not clear with saying to sell during ATH Crypto is not some labubu doll u keep on you shelf. Buy cheap, sell high. Im taking a piss at people who dk how to sell, make some cash, before the dip. Some idiot even said they’ve been holding BTC since 2013 and have never sold.

little_einschtein

I’m taking a piss at BTC hoarders. One guy bought at $124k and have been holding to date. U people need to learn how to TP or your losses Jesus Christ. Another guy burst his account and smashed his PC setup. Another guy took his life. So yeah for some it is over. Unironically. Yall are the exact reason why some people do NOT have a trading strategy. Chucking and praying is not a strategy ffs. Anyway take your upvote and have fun with your circle jerk. Same group of people who scoffed at the idea that BTC was gonna dip further than 100k.

Hwoarangatan

Just BTC and ETH. The rest is garbage comparatively.

TherealCarbunc

I agree, there's been a consistent 40 BTC sell order at intervals then suddenly when a large chunk of BTC gets sold it gets scooped instantly. capitalizing on market fears.

VariatCA

Throughout this year, each new high for BTC was preceded by a consistent, consecutive stretch of positive days of growth for the stock markets. After a drawdown in stocks, once several days of recovery and growth were recorded, Bitcoin quickly built up steam after a recent lull and pushed onwards to a new high. Today marked the first green day for Tech in a week. Inspired by NVDA's earnings beat, this could be an incredible opportunity to build momentum to a recovery.

DontLook_Weirdo

Sorry - I was not aware I could not edit my post in this sub..I can in others, I guess it just depends on the sub. I forgot to include how I got there. I actually had to connect with their support cause I couldn't see it before, from other people's post.. and they told me that it's rolling out, not every one in every region is getting it immediately. And I guess that's true cause I got the 'update' today. I was already on the latest version, but it just wasn't appearing yet. Go to... - 'money' tab, the one to the left. - click on the Bitcoin 'tile', the one with your BTC balance. - scroll down to 'Ways to use bitcoin' - it'll be here, it's one of two options.. the other being 'deposit bitcoin' IF it is missing for you, don't worry...just give it a few days, I did. Version 5.24.1 (version is shown in small print at the very bottom of settings, click on your picture)

capital_awesome

The loans come due 2028-2032 and are staked against btc. He has $58B worth of BTC and $24B of debt staked with BTC. The market cap should be $34B or 40% lower. The “strategy” isn’t working. Short MSTR long BTC. Perfect trade.

bbatardo

I just use it as a baseline to see if it is under/over valued. Would definitely need to look at the numbers and growth in comparison. Coinbase had great earnings last quarter, but any rally died quickly with BTC's dip. I'd argue Coinbase is undervalued now, but their price still runs with crypto sentiment which as you know is extremely low right now.

Internet_is_tough

It's quite safe. 40k is about 75% down from ATH. This kind of drawdown isn't just the degens getting stopped out and bad sentiment. It's the entire thesis of BTC being shattered, especially with Gold so close to ATH. It won't happen you are fine as long as you don't sell

BoringPrinciple2542

Let’s substitute with metric weights for a moment. 1 kilogram is 1,000 gram. 1 gram is 1,000mg Whether we are weighing something and say it weighs 0.01kg, 10g, or 10,000mg makes no difference. We can even use obscure measurements and say 1 decagram or 0.1 centigrams. If smaller units are needed we can talk about micrograms, nanograms, picograms, etc. The unit used saves us having to deal with a bunch of leading zeroes but it doesn’t change the fact that the weight of 1kg is constant. Or as the guy above was insinuating 100 pennies, 20 nickels, 10 dimes, 4 quarters, 2 half-dollars, or a dollar bill are all $1. Likewise 1k 0.001BTCs, 10k 0.0001 BTCs, or 100k 0.00001BTCs make no difference. They are each equivalent to the same amount of BTC. Use a smaller unit of measurement doesn’t change the reference value.

Kie_ra

Thanks but I understand BTC enough to call BS on your original comment, and I was just curious what's your logic behind it

baIIern

"BTC will be less volatile because of the ETFs" Bitcoin: dumps as hard as usual

braamdepace

The amount of bot / dumb accounts on here is crazy. People forget there is a world out there beyond BTC and it’s not doing great for the average person. There is also a lot of uncertainty in the market which is never great for stocks. BTC is a high beta asset and it’s responding like one.

AttemptKitchen

So NVIDIA AI Tech still doing a lot better than expected. Then why BTC have been dumping non-stop this past weeks? I thought that people said that tech markets were doing bad and Bitcoin was not an exception to it, economic and liquidity problems were coming etc.

LTFitness

Translation: I really loaded $5 more to my total of $300 of total BTC. I’m scared to lose it so I’m saying some big numbers with no proof so that others gain confidence and invest more. Trust me guys. (This is why WSB bans people for posting positions with no proof.)

AdConscious5713

# Current Polymarket odds show an 82% chance Bitcoin dips to $88k this week, and a 44% chance Trump Media buys more BTC in 2025 [https://polymarket.com?via=bitcoin](https://polymarket.com?via=bitcoin)

diprofit_global

It’s a decent time for a small entry, but you should keep most of your funds for a deeper pullback. If you’re interested, we posted a BTC technical analysis a few days ago — it covers major support levels and position management.

goldstein11

Exactly,...Using my crystal ball I think the BTC might crash all the way to new ATH.

kulikitaka

Ugh, looks like some are "selling the news". BTC struggling to crack 91k.

Merkel77101

Everyone pray Cramer says BTC will tank. We'll be rich.

Altruistic-Use-1104

1 BTC is worth a glass of Kool aid.. Don't drink the Kool aid

DreamingTooLong

If you cash out $1 million plan on giving half of it to the IRS And then watching the BTC price do a 10X over the next 5+ years

CheesecakeIcy3023

Convert BTC to USDT first. You can then sell USDT to fiat. That’s the cheapest way. You’re welcome.

obscureobject2574

Ha? You are comparing a meme stock to BTC. Come on, you can do better than that   Even if it does drop more, it will recover eventually and yon will still be waiting for a bottom. I’m not a trader, I got 10-15 years to take my gains. 

TigerAffectionate717

In which month of 2017 did you start buying and holding BTC?

namieorange

+30% correction twice in a year is not a mature market. However, I agree, it's not there yet but BTC is surely maturing, it's slow rise is kind of emulating the stock market. What happened rigjt now is that we got a divergence frpm the market probably because 1) distribution of OG whales 2) cycle purist front running the end of the cycle and self fulfilling the prophecy 3) money escaping risky assets because of government policies causing instability

AprilsMostAmazing

another one of my BTC custom buy went through. I think i'm going to be a BTC bah holder now

FloatyFish

Interesting, thanks for the update as to what happened at the Bitcoin conference. Honestly, I’d love to lend my BTC out for some interest. As for the old conversations, you’re probably right. Which is a shame, as they were good convos.

Melodic-Day2750

So just asking for a friend 🥹 who might be still deep into Coinbase. What’s the easiest way to get my BTC over to a better platform like River. Or how does one take it to Cold storage without being hit by large fees?

VariatCA

At 89k, we're still at around +124% above 2021's average price. Even if all you did was DCA about once a week in 2021, never buy the 2022-2023 dip, and come back today, you'd still be up over 2.2x Long-term BTC holders from 2021 aren't sweating at all

ubermensch1001

These people don't get it, man. All of this craziness since the October 10th mass liquidation is going to allow these big players to scoop up even more from what retail is panic selling right now. You still have 90%+ of the supply being controlled by wallets with 1 BTC or more, there are a little under 1 million of these and the actual number of people here is most likely LESS than this. It's getting difficult for the average person to even get .05 BTC now, which is around $4500 right now.

namieorange

Yes, even for BTC people are very bearish. Calling for 20-40k. I mean they could be right but hell it I cant see the reasoning appart from it corrects 80% ...from this euphoric pump that we had???

John_Pig

100k EOY, BTC FTW.

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Post is by: Gullible-Tale9114 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1p1j7sr/the_october_10th_crash_is_still_killing/ Bitcoin is back around the 90k level after dipping below it again this week and honestly the damage from that October 10th liquidation event is still haunting the market. We are down nearly 30 percent from the roughly 126k high and the move has basically erased this years gains. That crash triggered over 19 billion dollars in forced liquidations over roughly a 24 hour window the largest wipeout the crypto market has ever seen. Since then institutional style demand has clearly weakened. Spot bitcoin ETFs flipped from steady inflows to heavy outflows with BlackRocks iShares Bitcoin Trust seeing about 523 million dollars leave in a single day this week its biggest daily outflow since launch. What makes this worse is people are still using high leverage trying to time the bottom. Open interest in bitcoin perpetual futures on major venues like Binance jumped by more than 36k BTC last week worth over 3.3 billion dollars the biggest weekly increase since April 2023 according to K33 Research. K33 is warning that perp open interest has reached its October peak again which systematically increases the risk of another squeeze. They argue a lot of this leverage came from resting limit orders to buy the dip near the recent lows that got filled as price slid with no real bounce leaving traders in leveraged positions they werent really prepared for. Historically when this kind of setup shows up bitcoin tends to lose more ground K33 notes that in six out of seven similar regimes over the past five years BTC went on to fall over the next month with average 30 day returns around minus 16 percent. Until institutional buyers actually come back were probably gonna keep bleeding. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Lambull

Yup, double bottom is in. Now BTC rips back to ATH while altcoins just move to a lower local high after this lower low. So glad I’ve been 100% alts for 3 years..

DrSpeckles

It’s really amazing how religiously BTC folks are to this hard cap. It’s like their fundamental belief. It’s like they are talking about a commodity, instead of an infitestimally divisible digital token. If it was a commodity,then it could run out. The pizza analogy someone used fits here. But it’s not. There are always BTC available. And as you rightly point out if the price ever went up to the point oven a sat is too much, that parameter could be changed. And if the mining revenue continues to drop then miners will support a “doubling” so they can start mining again as transaction revenue tends to zero. The other factor you didn’t bring up is that each “coin” doesn’t get used up like, say a pizza, and can be on sold in mint condition at any time. For example the total volume being sold on any day massively outweighs newly mined coins. That means there is never a limit to supply, as there is always a price people are willing to sell at. But in the end, all it would take to change 21M to 42M would be the core guys to decide it was in their interest, then they would censor all dissenting views as they always do, and all the maxis would just fall in line, again. It’s not as hard as people think.

thomas2026

I only leverage trade the exact amount I would regularly trade. So if I were to buy $500 of BTC nornally, I might decide to leverage $500 worth and only hold $100 collateral. The downside is I will lose the $100 if it drops 20% but the upside is I get to hold onto more cash and hobnstly I would rather exit the market at that stage anyway.

Rydog_78

Anyone who starts off an argument claiming their USD investments are pumping is lying ass off. Continue to look at the short term on Bitcoin and you will be poor. Zoom out, Bitcoin is up bigly. It has historic pull backs if 25-30% through out its history but still continues to find new ATH imagine that! Sorry not sorry you lost your BTC to weak hands and had to buy back at higher prices that must suck but continue. You be you and continue playing games in the USD Ponzi merry-go-round market. I’m hoping for bigger drops so I can buy cheaper BTC just like Harvard wisely did. Zoom out because it’s always heads back up. This post is gonna age. I’ll hit you back up when BTC hits a new ATH again to see how you’re feeling.

BoringPrinciple2542

That’s why I encourage people to check and let me know if they see anything off. I was working in 2-5 minute bursts most of the morning and switching between several sources. [Holdings are from Bitbo](https://bitbo.io/treasuries/microstrategy/) [Liabilities pulled from the Balance sheet on Morning Star](https://www.morningstar.com/stocks/xnas/mstr/financials) BTC prices are just the closing price for each quarter close date. For the common shares I got lazy and just asked Grok so those numbers are potentially off. I think it should be ballpark right but the results didn’t match my expectations.

JohnClarth32

If I am allowed to make a prediction (hardly an expert and most of the time I'm wrong anyway) 80k range seems the likely lowest low just given that it has a rather large following at this time.   The only thing I do know is that the lower it gets the more people panic sell (I know obvious answer is obvious) but to what degree and how low BTC will get idk.   If any more bad news or unstable insistences occur that will really bring it low potentially...

little_einschtein

Someone said to buy the dip at 100k. Then again on 99k (that was after they said BTC will not go below 100k in the forseeable future). Haha. It’s 89k now. I can wait.

Scharman

I’ll concede we have no way to know where BTC goes in the future. It could conceivably spike to $200k and then buying back in at $90k is a huge win for them. But, you’ll need to concede that if the BTC trend continues they’ll bleed share price a little and their position would be challenging. If BTC dropped to $70k then I can’t believe your rosy view of their stock price. Maybe for die hard believers? Who knows

Grand-Button5819

Buy treasuries then. 😉👍 There are years where BTC is down 60+%. It's volatile af. No surprise there. 🤷‍♂️

TurkishBitcoiner

I am a long term MSTR share holder i know their strategy and dca. They won't have issues at all. As long as BTC grows 1.5% a year, and doesn't fall 80% and stay there for decades, MSTR shareholders won't have problems in the long term. Assuming 1.5% growth for BTC is also extremely low compared it's past performance of 80 vol, then 50 vol. MSTR will never sell BTC unless BTC and the stock market literally crashes much much much much worse than the 2008 financial crisis.

texas-hedge

Just get an OTC account at B2C2, Galaxy, wintermute, etc. also, $1M is not a large order for BTC at all.. that’s a 10 lot

Normal-Translator529

Even if wash sale rules were in place, you could sell BTC and exchange for IBIT (or vice-versa depending on tax situation). I prefer to hold actual BTC but it is nice to have the option of writing out of money calls with IBIT. Generates income when needed without having to sell any of your stack.

Spokraket

BTC running like clockwork.

McKain337

You are absolutely correct, but with the rise of mobile GPUs, they might be soon. Although that's not my reasoning here. As it sits most mininable coins, they have a high barrier of entry for the average consumer. By high i mean that they have to touch a computer. More and more of our computer uses over the last few decades have moved to mobile. Except for the elites of their respective fields. Most people still use a laptop, though most don't have a GPU, and the ones that do are outstripped by ASICs. Sure, there are a few CPU coins like Monero, but it's not really mobile friendly. And It's the only coin I'm aware of with a 1 click mining button. Older clients for coins like BTC had this, but they removed the ability for the basic user to contribute to the network. Im hoping that if we can get at least one mobile chain working well, other more notable ones will follow; allowing the average consumer to contribute once again if they wish. The average joe doesn't want to pull out a laptop or go sit at a desk and fiddle with multiple programs. They just want to hit the pretty icon on their phone screen and let it run. The learning curve is so steep, even though you and I know it takes less than 30 min to set up most mining programs that creating a single config file gives them a panic attack. Eventually, I hope for a single app that will function as a node, wallet, and miner for anyone who wants to be a part of the network. Sorry, I rambled. That turned into a book.

VariatCA

BTC's got two options. It can either keep going down and I'll scoop up more ladder-buys every few percent, lowering my dip-average and waiting out this artificial storm of a stock-market downturn... or it can go back up. There's no "chop zone" at this range lol.

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justcurious3287

BTC isn't a Ponzi scheme. You can't go wrong buying BTC, trust me.

inDilema

If AI is truly a bubble, we all know what's going to happen when it's going to burst. The stock market will crash hard, and BTC will be the first to find a bottom. Decoupling is a myth.

BoringPrinciple2542

Double check my numbers… I pulled from several sources and put this together while jumping between meetings so could have some errors. If correct it looks like MSTR really nuked BTC per share in Q1 of this year. https://filebin.net/xa3ph8q1v3hlnogo

stellarfirefly

Just a follow-up after some rough calculations, it appears that the “1M BTC left” milestone will happen around March 7-10, 2026 and the “98% BTC mined” milestone should happen around early-2030 give or take a few months.

Electrical-Cat-6660

If you believe BTC and its potential projections in the next 10-15 years, this is just another added discount!

anon-187101

divisibility does not mean that ever-smaller units will add up to more than 21mm BTC (with 1 BTC == 100,000,000 SAT) this is seriously 80 IQ stuff, guys

longonbtc

If you are just going to be dollar cost averaging, then I recommend using River or Strike. I'll explain why below. If you set up an automatic hourly, daily, weekly, or monthly recurring purchase schedule (automatic dollar cost averaging schedule) on [River](https://river.com/), then **River stops charging you fees after the first week.** https://river.com/zero-fee If you set up an automatic hourly or daily recurring purchase schedule (automatic dollar cost averaging schedule) on [Strike](https://strike.me/), then **Strike stops charging you fees after the first week**. And if you set up an automatic weekly or monthly recurring purchase schedule on Strike, then Strike stops charging you fees after the first automatic purchase. https://strike.me/faq/how-do-i-set-up-a-recurring-purchase/ Exchanges get to choose how much they want to charge their customers for withdrawing bitcoin from their platform. This fee is referred to as a bitcoin withdrawal fee. Some exchanges choose not to charge a bitcoin withdrawal fee at all (meaning it's free to withdraw bitcoin). [Swan Bitcoin](https://www.swanbitcoin.com/) chooses not to charge a bitcoin withdrawal fee. [**Strike**](https://strike.me/) **chooses not to charge a bitcoin withdrawal fee if you choose the slowest option.** [Cash App](https://cash.app/bitcoin) chooses not to charge a bitcoin withdrawal fee if you withdraw 0.001 BTC or more and you choose the standard speed option. [**River**](https://river.com/) **chooses to give their customers one free bitcoin withdrawal per month.**

llindstad

I sell call options through my brokerage account (ETF: IBIT). Expiry, usually about 3 months out. I then buy bitcoin for the added amount. If strike price hits, I lose the principle, but I've gotten free BTC. If not, I'm better off. It has its drawbacks, but works well for a volatile asset like bitcoin.

stellarfirefly

I always thought that a much bigger deal would be made of the 95% mark. Perhaps the market downturn has soured people’s sentiments a bit. The next psychological milestone will be at the “1 million BTC left” milestone, which is coincidentally not very far off from the 95% milestone. After that, no major milestones for quite awhile except for halvings, since the next psychological one probably won’t be until “98% left”, many, many years from now.

MakCapital

If it's not Bitcoin it should only be the networks people actually issue on and trade on. That's Hyperliquid & Solana. Could argue Ethereum, but makes more sense after it scales or monetizes L2s. That's it. Literally no one uses Cardano. It runs 1tps max. A ghost town even after all these years of pushing for adoption. Solana can execute more trades in a couple days than Cardano has seen in its entire existence. Solana & Hyperliquid returned billions to investors this cycle. Cardano returned nearly 0. Doge is a meme, but at least it doesn't pretend to be anything else. Memes trend to 0 against BTC. Always. Don't understand how crypto buyers are still so lost. There's only one Bitcoin. The only L1 that gets a rev exception. Everything else you're buying better be the place everyone issues and trades on. That activity can be monetized. Nearly 2 decades of proof any coin without activity eventually trends to 0 against BTC. Need value producing assets, but doesn't mean some won't see massive meme pumps along the way. Eventually the meme pump ponzi game fizzles. This does not make a good investment. Use prediction markets or perps if you're here to gamble. Coins & tokens just represent ownership over something else. Just like a stock represents ownership over a company. SOL, HYPE, ADA represent ownership over those networks. Don't own things no one uses. Same applies to tokens. USDC is ownership over fiat. JLP is ownership over an index. Nvdax token is ownership over Nvidia. Protocol tokens are ownership over the protocol (with no regulatory guarantees if admin keys are still in play). Understand what you own when you buy any token or coin. Make sure people actually use that thing you own or there's no way to capture value from it.

justcurious3287

It is always, always, always. Always. A good time to buy BTC. That's lesson #1 in crypto investing.

Beaesse

I wasn't one of those people. BTC can go up forever (Laura) against (all) other currencies. That is a qualitatively different argument than "BTC will one day represent all money." Your comparison is not valid.

TheBase82

I mean we are late in case the cycle isn’t different in terms of duration. But: Maybe the only difference is the lack of liquidity that will bring to a less intense descent.. Maybe the descent will last less than a year.. Maybe the recession will bring BTC to a deeper bottoming than expected.. Maybe manipulation will take everybody off guard changing direction all of a sudden.. Everything is possible rn..everything

justcurious3287

I didn't know investing existed back then. I didn't know crypto existed until mid-to-late 2021. I didn't start buying BTC until 2022, and now I own nearly 0.07 BTC, working on accumulating more. Being late to BTC doesn't stop me. Better late than never.

Technical_Car3729

You gotta log onto a sketchy website , get some insiders that hold 90% of the supply, generate some hype some how through marketing or luck, and then rug some people , then mix the stable coins coins thru some other sketchy site and then bam send the BTC to your custodian and good luck have fun

justcurious3287

Don't take out loans to buy crypto. I would never do that. I would never sleep at night. And I know the market is terrible right now, but it is literally your job as an investor to not freak out. BTC is a fantastic investment. It's the #1 cryptocurrency. You need to buy into it consistently and regularly. Even when the market is down. Especially when the market is down. A bad market is your opportunity to get a discount on BTC. That is how the game works. Selling when the whole market is down is the worst decision ever. Along with taking out loans to buy crypto. Two of the worst moves you could ever make as an investor.

Phrontifugist

We'll know by Dec 15-ish. That's about how long it takes for a death cross to change into a golden cross for BTC if it's to recover and go higher.

longonbtc

Blackrock's iShares Bitcoin Trust ETF only buys BTC when people buy shares of IBIT. Blackrock's iShares Bitcoin Trust ETF only sells BTC when people sell shares of IBIT.

justcurious3287

Don't sell your BTC. Keep buying and holding. Don't sell until you own 5 BTCs, at least. Hold as long as you can.

flyultra52

I heard BTC has direct ties to Epstein I'm cancelling any and all institutions holding bitcoin. Not going to support or fund companies that are affiliated I'm sorry. I want nothing to do with it and won't touch it and any company using it or promoting it just lost all my business. Everyone i know is cancelling companies and no longer supporting them. They'll get as far as they can away from this as possible if they care about the future of their companies. They can take everyone's money that is still in holding thats fine. Leave them with it. Everyone i know is getting out and no longer wants to be apart of it.

ecnecn

[https://www.coinglass.com/currencies/BTC](https://www.coinglass.com/currencies/BTC) Scroll down to Bitcoin OI-Weighted Funding Rate chart The current market structure exhibits a critical bearish divergence between price action and leverage positioning, as evidenced by the OI-Weighted Funding Rate remaining persistently positive despite Bitcoin’s deteriorating price trend throughout November. This disconnect reveals that the majority of market participants are aggressively leveraging long into weakness—paying a premium to "fight the trend"—rather than capitulating. This creates a highly fragile environment where a crowded trade of trapped bulls is supporting the price artificially; consequently, the path of least resistance remains downward, as a painful "long squeeze" is likely required to flush out this excess open interest and reset funding rates to negative levels before a sustainable bottom can form. TLDR too many agressive leveraged long positions backed by too little money (collateral) Just see the extreme divergence in the chart.

BacchusAndHamsa

Bitcoin can't grow into golds role with BTC's massive volatility, ever. Anyone hoping for that will find the world a confusing place.

RoutinePrice446

>I understand the intrinsic value of BTC Those steeped in Austrian economics will be the first to tell you, there's no such thing as "intrinsic value." The value of Bitcoin is arrived at through consensus, and right now we (the sum total of people buying and selling) are working through some disagreement.

BainTrain55

At this point Saylor and Tom lee should just come out and say BTC is going to zero. They could get the price down to their choosing.

Erowid2S

>That's a total non-sequitor. A disagreement != a statement t hat doesn't logically follow the previous one. > I spend $0 on bank transactions. So compared to bank transactions for me, Bitcoin is INFINITELY less efficient. But we do spend resources on hiring armed guards to transport money, for example BRINKS. Plus, we spend resources on hiring people to run banks, banks pay to maintain their physical banks etc... this costs energy to keep the lights on, etc. You may spend $0 on bank transactions, but there are resources being spent for those transactions to occur. This is what the main point we're discussing is: resources are being wasted to mine bitcoin—much more than are being wasted by TradFi, for us personally and for the whole world. > That's obviously a terrible example, which is why it's illogical to convert it into kWH. Every person's situation for comparison is different, and it would be imprecise for me to use anything but 3.125 BTC per block or $320k in today's USD. That's what's important to me because it can imagine that amount of money. One estimation is that a single bitcoin transaction uses 1289 kWh. In the USA here in Los Angeles, that'd be about $640 at $0.41/kWh for an average person. The average person uses probably 3 to 10 kWh a day. A fridge uses about 250 kWh a year on the low side, 1000 on the high side. So about $410 a year MAX. A bitcoin block mined is estimated to use 155,000 kWh. Here in LA, that's about $63,500 with no special energy contract. Other metrics say 1 BTC mined is 6,400,000 kWh. There's no reliable source. So to say it costs $320k to mine 1 BTC is BS.

theincognito66

I don't know what's going on. I'm just a dumb ape watching a number go up and down every second. But there’s one number that only seems to go up (my BTC holdings)

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Post is by: Ernestfernest and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1p1g1d1/btc_prediction/ Guys I just bought BTC so you know what that means make sure you sell because it’s gon go down. I will let you know when I sell so you guys can start buying the dip! Buy high sell low baby. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

redshadow90

$89k. Yesterday's party starter is today's cause for depression 😆 We're heading into bear cycle so things will go south before they go up. Just make sure your BTC holdings are bigger on the other side of it.

IsItSafe2Speak

I've cashed out all but BTC and am shorting ZEC

ylccCMJ

I’m thinking; small relief rally until 3:30, all hell breaks lose with volatility before market close, earnings report released at 4 (2.5 hours), exceeding expectations, stocks rally with BTC Don’t @ me

_JDavid08_

Why is BTC price falling?? Who is selling/taking profit at 90K?? Are the shorts bigger than longs??, who is betting to BTC drops??

HSuke

That's a total non-sequitor. You want an example? I spend $0 on bank transactions. So compared to bank transactions for me, Bitcoin is INFINITELY less efficient. That's obviously a terrible example, which is why it's illogical to convert it into kWH. Every person's situation for comparison is different, and it would be imprecise for me to use anything but 3.125 BTC per block or $320k in today's USD. That's what's important to me because it can imagine that amount of money. If you want a better example, just make your own. That's not my job.

Schlieren1

I dont own any BTC but id consider taking the plunge if the price gets to $8

obscureobject2574

Same here. Will be 61 in 10 years.   Does anyone really think BTC will be sub 100k then? But one thing I do know is that fiat will be worth much less in 10 years. 

paddy_mack

I understand the intrinsic value of BTC (trust as a commodity, digital gold, explicit scarcity in a world where the only way out of the sovereign debt hole is printing money) but I don't see what the demand driver to reverse the recent trend is? There's a general deleveraging risk in the market presently, what drives dollars back into BTC, or into BTC for the first time? I'm a HODL'r, but am not convinced that I won't be ridiculed for the next little while, with new opportunities to DCA in over the next months... years?? What drives the trend reversal (beyond a dead cat bounce/short squeeze which won't make new highs)?

TurkishBitcoiner

Nvidia won't come in light with earnings, MSTR won't sell their BTC unless we go below 15-20k and stay there for few decades. December will come, QT will end, QE will come, china's 1.2 trillion stimilus check, usa 2000 usd stimilus check, the money supply reaching new ATH's and you think stocks and crypto will crash? The opposite is literally about to happen in the next few weeks.

LegendaryJohnny

Far from it. BTC is still 90k, 23k from previous ATH. If you want sentiment the same, wait for 50k btc and most altcoins dead or close to death.

Illustrious_Tear_682

Because of all the paid shills on Reddit promoting BTC whether it is up or down, and all the sheep who follow their advice.

Visual_Wedding9762

Dip -> People thinking its the end of the world -> Post Meme about it -> Dips even more -> FA of people who shouldnt even touch anything in finance pop up -> Goes back up -> Posts about why in BTC we trust appear -> Goes even further up -> Posts from people appear who didnt buy the dip and ask if its ok to buy now -> BTC goes to an ATH -> Repeat.

ecnecn

All the people that hype when their beloved crypto coin gets mass adoption by some big ETF creators: The people that buy ETF are not active on the crypto market, the crypto is bound to them through the ETF like a layer, ETF is just accumulating and not trading with the coins - the coins literally left active trading, ETF investors have no control over them directly cannot send nor spend. Given the billions of XRP in circulation an ETF XRP release doesnt change anything compared to BTC and other coins where ETFs increase the scarcity - it is nearby impossible to increase XRP scarcity with that volume of coins in circulation.

Electrical-Yard1582

BTC is way too volatile to be considered digital gold 

GettingFasterDude

ETF adoption. Block enabling BTC payments on all square accounts. Interest from central banks. Large corporations and endowments adding bitcoin to the balance sheets. Nation states adding btc reserves. These are all things that I think (I hope) will create demand for bitcoin in the future. That doesn't help us right now, but hopefully it will in the future. I haven't been in bitcoin long either. I'm also underwater on my cost basis right now. We have the choice to either sell at a loss or hold on for it to recover in the long run. I'm choosing to hold for the long run. Obviously many people are not holding and are selling to stop their losses, so bitcoin is down. But interestingly so is gold, stocks and bonds. All markets are dumping past few months. It appears people are selling everything and moving to cash. I have not doubts markets will turn around in the long run. But that doesn't help that it feels like absolute dog sh\* t right now.

biba8163

> muh DeFi!!! **Real World Financial Products** - **Checking accounts** - for everyday daily activities for paying bills, debit cards, ATMs - **Savings accounts** - for storing money that is GUARANTEED by the government for up to $250K - **Certificates of Deposits** - GUARANTEED fixed interest. - **IRA** - Tax advantaged or 100% tax free (Roth) retirement accounts - **Brokerage accounts** - Access to investment products including stocks, bonds, REITS (Real Estate Investment Trusts) - **Personal Loans, Home Loans, Mortgages, Home Equity Loans, etc** - **Home Owners Insurance, Auto Insurance, Life Insurance, etc** - **Small Business Loans, Commercial Loans** **DEFI - Bullshit scam narrative from the Summer of 2020** - Essentially a Shitcoin Casino. Leveraged plays, trading shitcoin tokens, earning yield on shitcoin tokens by providing liquidity on shitcoin tokens which all drop 70%-99% when BTC goes into a bear market. NOT FINANCE in ANY WAY - Every player like, MakerDAO, AAVE, LINK etc, is COMPLETELY CENTRALIZED - There are NO real life financial products like life, home, health insurance, mortgages, home equity loans, car loans, personal loans without massive collateral, commercial loans, etc. Again, shitcoin trading, yield farming, etc. NOT FINANCE in ANY WAY - Then you slap some scamified metrics like TVL based on scam tokens locked up to make gullible fools believe real capital is locked up instead of vaporware scam tokens.