There is strong support at 29k. If you're not buying at 30k, you should probably wait until it gets down to 24k.
We're about halfway between the last halving and the next, which is where we've typically seen the most draw down, so, this is not super surprising I suppose. I was hopeful we'd hit 100K during late last year's bull run, but it didn't happen. I was also hoping the new floor would be that 50-60K range, but instead it looks like it's gonna hover around 30-40K until the next halving and then pop again in Summer 2024. Will be interesting timing as that will be right in the middle of election season, so the topic will likely get some attention during the debates/campaign. In the meantime, it's a good opportunity to accumulate.
fwiw, I bought into the 100k prophecy too. With credit tightening everywhere, I would be cheaper with my powder at this moment and wait for consolidation after a couple bounces. DCA with smaller portions if you're a short term optimist. https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-history/ Bitcoin’s price moved sideways during this time, with a few small spikes. The highest peak was in January 2018, around $17,527. The lowest dip was around $3,236 in December 2018. “I went from having millions of dollars in crypto, to having a couple of hundred thousand,” Merchan recalls. At the end of 2019, Bitcoin’s price was about $7,200. 80% swing from a then ath high to low with a doubling of that low a year later. I guess that's when Goldman and friends swoop in after roasting retail, right maxis?
MicroStrategy’s Saylor: BTC Must Drop to $3562 Before We Get Margin Call https://coinfomania.com/microstrategy-bitcoin-margin-call-3652/ I feel like people are going to push the price that low just for the lulz at this point.
Down payment this winter. Random: I was driving in Alvin the other day and saw a girl, maybe 20, with white hair, yellow eyeshadow and pancake makeup driving a red Lambo.
I'm curious what the benefits have been so far. The President has drained their treasury and caused their bond rates to skyrocket (and likely default eventually). He's locked his country out of international financing due to the risk levels. His Bitcoin bond got scrapped due to lack of interest. Basically no one in the country uses Bitcoin as a medium of exchange. There was a whole bunch of ID theft while people were collecting $30 at a time. The unbanked haven't used it. It hasn't really been used much for remittances. I can see how there might be future benefits, but can anyone point to any benefits thus far? For those pushing it, is this what they expected?
In total, Coinbase insiders have unloaded $3.5 billion of Coinbase shares since the IPO. According to VerityData, the biggest individual Coinbase sellers have been Coinbase cofounder Fred Ehrsam, who has sold $492 million of Coinbase stock; Armstrong, who has sold $292 million; and Coinbase president Emilie Choi, who has sold $231 million.
Their employees also frontload shitcoins before announcing them on their exchange. Reputable business. Would recommend.
this isn't so bad when you realize Lazlo has way more bitcoin than he spent on the pizzas dude is a certified OG bitcoiner
They literally can't. They have two currencies and they control neither. In El Salvador, the legal tender is USD and BTC. They're basically screwed now as they have zero control over their debts. The US is raising interest rates so that has a negative effect on USD denominated debt and their BTC holdings have collapsed in value. They're completely hosed unless BTC makes a huge recovery. And the problem with their BTC holdings is that they can't use them for anything because they don't want to sell them at a huge loss so they've locked up huge amounts of foreign reserves in a "currency" that isn't liquid right now.
