BITCOIN

DannyCarey

Looks like its a sell the news event

Scottex99

Sell it all event right now 😀

Scottex99

Catastrophic crash to sub ~41k.

Not entirely unexpected as we’d run up pretty high pre ETF. Apparently the numbers for BlackRock and Fidelity are big but a lot of outflows from Greyscale to Coinbase as people take profit. VanEck already closed theirs down.

Not much else to report. That was a potential demand event and then the supply event comes with the halvening.

I’m bullish for sure over 18 months 

MeteredOut

Scottex99 said:

Catastrophic crash to sub ~41k.

Not entirely unexpected as we’d run up pretty high pre ETF. Apparently the numbers for BlackRock and Fidelity are big but a lot of outflows from Greyscale to Coinbase as people take profit. VanEck already closed theirs down.

Not much else to report. That was a potential demand event and then the supply event comes with the halvening.

I’m bullish for sure over 18 months 

But you said it was going $50K+?

I believe it peaked just under $48K as those that believe the ETF announcement would "send it to the moon" threw their money in.

I suspect we'll see a similar pattern as we get nearer the halving, with the price rising ahead and then dropping after. I'm not confident enough in that to take a contrarian position, however

Scottex99

Yep for me it pumped less than expected but it was already “high”. I forgot about the obvious Greyscale dumping tbf.

There will have been loads of retail getting in at a “sell the news” event like they always do, no different to buying whatever stock at IPO. But if they bought spot they can just hold and it’ll be $50k soon enough, imho.

Not clever to make price predictions of course but $30k something could come in then builds up from there post halvening. $41k is very decent considering everything that went on late 2022

Scottex99

On the way to $50k again, 20 days later.

ETF inflows? Chinese new year? Greyscale selling tapering off?

Still not too much coming from retail I don’t think, although typically retail appears at its most frenzied near the top of the market so 1.5-2x from here?

We already had the demand shock and seems positive, supply shock comes in a couple of months with the Halvening, bullish signs for 2024 in my eyes 

MeteredOut

It used to be that we'd have to check a finance sites to see if BTC was trending down or up. Now I just need to check on those sites to see if its gone down, and know it's gone up if there's a notification of a post to this thread.

Such is the weird and wonderful world of crypto

Scottex99

Nah I posted about the local bottom at 41k too. Ofc price drives the majority of the narrative but also not the be all and end all either.

Although as an investment I’d clearly want it moving in one particular direction.

Highest price in 2 years, should be a new ATH at some point this year… 

DannyCarey

Must admit I am very tempted to sell some. 

Scottex99

Good to have an exit strategy for sure, I’ve made that mistake multiple times already.

I’m eyeing up closer to $70k price level for BTC myself