BTC failed to live up to it's own prophecy by not doubling from the last height of ca. 69420 to at least 140k in 2025. There was a last chance in October of last year, where it seemed to get close but ultimately it just didn't find enough buyers. Now with the narrative broken (bitcoin always goes up over the long term) one sell off will lead to the next as more and more people lose trust.
Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
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Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#32And it will continue. Bitcoin treasury companies [0] have equity values lower then their Bitcoin holdings, so it is the financially correct move to sell BTC at market price and use the proceeds to buy back their stock at the market price. This will lead to additional downward pressure on BTC. [0] https://bitbo.io/treasuries/
I'm not a fan of Bitcoin but from a purely financial perspective it's natural for treasury companies to trade at a discount to the underlying assets. Obviously the executives are going to find some way to steal most of the value and leave the minority shareholders (suckers) holding the bag.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#33BTC failed to live up to it's own prophecy by not doubling from the last height of ca. 69420 to at least 140k in 2025. There was a last chance in October of last year, where it seemed to get close but ultimately it just didn't find enough buyers. Now with the narrative broken (bitcoin always goes up over the long term) one sell off will lead to the next as more and more people lose trust.
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Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#34Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede? But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncracka…
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Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#35Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede? But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncracka…
The biggest problem with metals is the same as crypto - there's no fundamental underlying value like P/E or product announcements you can anchor the price to - so its free to fluctuate.
How much of a problem that actually is we got to find out last Friday.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#36Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede? But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncracka…
You can easily trade gold today. You can easily trade gold if ww3 starts to the goons pressganging people into dying in the trenches so they take your bitcoin hoarding neighbor instead. You can easily trade gold after a nuclear apocalypse to your local warlord so you get access to non-irradiated food. Gold is a pretty, shiny rock and rich people like pretty, shiny things so they can display their superiority to no-go…
Where is your gold? Buried in your garden? Or is it an accounting entry at some commodities trading firm?
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#37Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede? But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncracka…
You can easily trade gold today. You can easily trade gold if ww3 starts to the goons pressganging people into dying in the trenches so they take your bitcoin hoarding neighbor instead. You can easily trade gold after a nuclear apocalypse to your local warlord so you get access to non-irradiated food. Gold is a pretty, shiny rock and rich people like pretty, shiny things so they can display their superiority to no-go…
You can easily trade gold until someone can force it from you.
The amount of gold you can realistically conceal is less than a year of your salary.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#38Vibes guy here. I dabbled in Bitcoin for about a year, on the notion that if the world's overall financial system got degraded, more people would view Bitcoin holdings as a safe way to preserve value. Maybe better than owning physical gold. Why not get in early before the next stampede? But I was wrong about bitcoin > gold. It's worked the other way around. There's also persistent chatter that the supposedly uncracka…
You can easily trade gold today. You can easily trade gold if ww3 starts to the goons pressganging people into dying in the trenches so they take your bitcoin hoarding neighbor instead. You can easily trade gold after a nuclear apocalypse to your local warlord so you get access to non-irradiated food. Gold is a pretty, shiny rock and rich people like pretty, shiny things so they can display their superiority to no-go…
> goons pressganging people into dying in the trenches so they take your bitcoin hoarding neighbor instead
Wouldn't they just take your gold and pressgang you? Double win for them.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#39BTC failed to live up to it's own prophecy by not doubling from the last height of ca. 69420 to at least 140k in 2025. There was a last chance in October of last year, where it seemed to get close but ultimately it just didn't find enough buyers. Now with the narrative broken (bitcoin always goes up over the long term) one sell off will lead to the next as more and more people lose trust.
I still find it interesting that the pump and dump still works - it's the same cycle over and over again of building the market to dump crap onto people. I bet some folks have so much crap they've been dumping it gradually just so the market can absorb it.
Was this the final dump? I doubt it.
Re: Bitcoin Looks Set for Longest Monthly Losing Streak Since 2018
#40BTC failed to live up to it's own prophecy by not doubling from the last height of ca. 69420 to at least 140k in 2025. There was a last chance in October of last year, where it seemed to get close but ultimately it just didn't find enough buyers. Now with the narrative broken (bitcoin always goes up over the long term) one sell off will lead to the next as more and more people lose trust.
Possibly, but you don't know that and you are stating it as fact.