Bitcoin Price Thread

Here's a simple correlation. Simple being the key world.

2.5 billion ounces of gold in the world per a google search.

18 million current total bitcoins.

2.5 bill / 18 mill = 138x more gold ounces than bitcoins.

$1773 (current gold price) x 138 = Possible future value of bitcoin of $244,000.
 
Did you all buy that dip?

btc-usd3.png
 
mariopepper said:
Thanks, I will check it. Is it a paid one?
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No, it's free. Other than hardware wallets like Trezor or Ledger, I am not aware of any bitcoin wallet that you have to pay for. It's an open-source project.

For example, I used to build the bitcoin core wallet from github souce code on Linux, but nowadays, I rely on my Linux distro's software repos. One of these days and perhaps on my next version upgrade, I'll be paranoid and build it from source again https://github.com/bitcoin/bitcoin

Make sure if you're going to use Windows OS for a bitcoin wallet that you do not have any malware.

Personally, I would only trust a light wallet (SPV) for less than 1 btc amount, for anything higher, I would use a full bitcoin core wallet on a Linux distro, but you have to be prepared for the maintenance costs, not so much $, but technical know-how and hardware requirements and your time. Current bitcoin blockchain size is over 360GB, plus sync time from genesis block would probably take a couple of weeks depending on your internet speed. Plus there's the "checkpoints" I call them where I verify a block hash on different blockheights to ensure I'm on the correct mainnet chain (not a fork and not a test) comparing my local values with several online block explorer values.

All of these depend on your risk acceptance levels, so ymmv.
 
Trader Curt said:
I bet you anything we are going to have a pullback at 20k
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You're correct on this call. This has been happening! I saw it play out 8-9 hours ago and what an amazing thing to watch btc go to $19,918 and go straight down to $18.9K within 2-5 minutes.

I was wrong on 20K not posing a resistance, twice btc approached it and quickly pulled back hard.
 
johnarb said:
You're correct on this call. This has been happening! I saw it play out 8-9 hours ago and what an amazing thing to watch btc go to $19,918 and go straight down to $18.9K within 2-5 minutes.

I was wrong on 20K not posing a resistance, twice btc approached it and quickly pulled back hard.
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Yeah, that last pullback was scary, gotta have nerves of steel to be in this market lol. Hopefully this dip is not as big as the other or else it will start to look bearish.
 
wiesman02 said:
Do u bitcoin gurus still think this is hitting 20k soon. This consolidation around 18k -19k looks weak. I hope I’m wrong bc I own some bitcoin myself
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Nobody knows bro. You have to think for yourself long term. Do you ultimately think Bitcoin will break 20k in the long term? I can tell you this, the difference between this rally and the 2017 rally is this time we did not shoot straight up, we are at more of an angle which means we haven't shot up yet. This 20k resistance is expected, and can last a long time because this is the biggest resistance Bitcoin has ever faced, and notice how the dips are becoming weaker and weaker. If shit like this is shaking you up now then maybe it's best you take whatever little profit you have because you will not know what to do after blast off.
 
wiesman02 said:
I’m holding this as a long term investment. It won’t shake me out. I’m also watching it to get a feel for price action in case I decide to trade it for swings one day In the future
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I've gone into full hodl mode 1.5 months ago, but I watch intently every single day and night and in the middle of the night if I wake up to go to the bathroom. I have no plans to trade. I watch my wallet addresses on the block explorers, I don't even login to the wallets, I don't want to be tempted to make trades even as I see YFI and AAVE going up like crazy (I sold them a while back already), so be it, let others have the fun.

I have not made a single trade. my last post on DeFi thread We have to remember the lessons from Jesse Livermore.

I'll tell you this, though, I know you're having doubts if we're going to go above $20K and me, I have 100% confidence we will surpass $20K/btc, I'm just flip-flopping on how high we can go. I want to be conservative and say the top is $50K, but I'm not being honest to myself because I really think once bitcoin hits $1T marketcap, that's when the huge investor monies will start to come in and the higher it goes, the more they will be coming in to have allocation and exposure to bitcoin, as Raoul Pal has mentioned, bitcoin at $365B is just "noise" to these players, it's too small for them to get in, there's not enough liquidity for them to put even 1% investment.

That's my opinion above, so not saying I will be correct. By the way, I actually had my doubts on bitcoin ever hitting this high again, because when it kept bouncing 10K to 12K back and forth and volatility has been lower than the Nasdaq Tech stocks, that we've reached a plateau price discovery was over for bitcoin and that price was not bad to stay at for a long time. I'm so glad that we broke out of there, now I have no more doubts about bitcoin going much, much, higher than now.
 
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