Bitcoin Price Thread

gwb-trading said:
The sole point I was trying to make in my original post was that crypto is not a safe-haven investment in times of global turmoil or war. Crypto is not where investors will be fleeing to if they want to reduce their risk. This was quite evident over the weekend when the markets were closed and Bitcoin was still available for trading.
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Exactly the markets, other than cryptos, were closed. So you assume markets would NOT have gone down if there were open too? If not what are you saying?

Anyway BTC has been in correction (sideways to down) mode. It dropped March 14th to March 19th at a slightly greater percentage than recent April 8th to sat April 13th down swing.

IMO with either swing nothing to do with any current headlines.
 
SunTrader said:
Exactly the markets, other than cryptos, were closed. So you assume markets would NOT have gone down if there were open too? If not what are you saying?

Anyway BTC has been in correction (sideways to down) mode. It dropped March 14th to March 19th at a slightly greater percentage than recent April 8th to sat April 13th down swing.

IMO with either swing nothing to do with any current headlines.
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Most markets, stocks etc. are not safe-havens. If these markets were open then money would have been leaving them as well and the prices going down as investors sold.

The point I made -- as backed by articles and the actual price action -- is that Bitcoin is not a safe-haven either. Some promoters have tried to portray crypto as a safe-haven but this is simply not true.
 
Are we not about due for another crypto winter? It's been almost 2 1/2 tears since the last one.
Price has hit new highs and is starting to roll over. My BITO position is getting awful close to it's stop.
 
schizo said:
Some miners are selling more [bitcoin] before the halving. Daily sales to OTC desks hit 1.6K bitcoin in late March, the most since August 2023.
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Thanks for sharing this schizo. I do think its important to add to the narrative because everything I see in my feed is just that nobody is selling, and especially the miners. If this is in fact true, it does add to the picture. When you think about it, it makes sense. They can't keep having costs and yet no sales forever. Its a business, and they need revenue. HODLing the coins is great if they think its going to 100k or a million, but bills have to be paid in the mean time.

The fact that bitcoin was dropping over the weekend doesn't really mean there is anything wrong. The equity markets would have dropped too. Maybe the moves are much higher on bitcoin as a percentage, but everything drops in that initial scare.

I'm with John for the big picture though. All that selling is absorbed. If miners want to sell, let them. The coins are just going to stronger hands. Of course there are some people that can trade this very well and double their stack while taking advantage of making 10-20% on each trade and gyration, both long and short, but most of us will fail at this. So its better to just hold and wait.
 
gwb-trading said:
Most markets, stocks etc. are not safe-havens. If these markets were open then money would have been leaving them as well and the prices going down as investors sold.

The point I made -- as backed by articles and the actual price action -- is that Bitcoin is not a safe-haven either. Some promoters have tried to portray crypto as a safe-haven but this is simply not true.
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That determination can't be made just looking at an intra day or even multi-day chart. What happens over years and years matter.

Gold is still, for some strange reason, looked at as a safe-haven .... because of its 1000+ years of history. Like what happened during the middle ages or before really matters now. Even prior to 1973 is erroneous.

A thumb drive is safer than a locked vault that you can't take with you anywhere in the world.
 
During a crisis, standard tradfi risk management is to "sell what you can sell." If few other markets are open, then that implies that bitcoin bears the brunt of the selling (not everyone is a hodler). A big drop is likely to scare some of the new ETF holders, so it's not so surprising to see some selling today.
 
gwb-trading said:
Well clearly I disagree. I will also make the point that in the modern interconnected world the determination is an investment is a safe-haven when facing global turmoil or war -- can usually be determined in minutes... and certainly be seen over a 24 hour period following an event or crisis.
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Did it crash? No it had a down day. No biggie. Move on to something else already.
 
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