Bitcoin Price Thread

 
Frederick Foresight said:
Nope. Looked it up:

https://www.google.com/search?q=why+is+bitcoin+surge+delayed+so+long+after+halving&sca_esv=0b15258b1181e5d8&rlz=1C1RLNS_enCA983CA983&sxsrf=ACQVn098iLCBpgaamNvBQqkXwN33HioRTw:1714407451796&ei=G8gvZrKFMKSq5NoP4-G0uA4&oq=why+is+bitcoin+surge+delayed+after+halving&gs_lp=Egxnd3Mtd2l6LXNlcnAiKndoeSBpcyBiaXRjb2luIHN1cmdlIGRlbGF5ZWQgYWZ0ZXIgaGFsdmluZyoCCAAyCBAhGKABGMMEMggQIRigARjDBEjqXlC2CljePnACeACQAQCYAYUBoAHSCaoBBDEuMTC4AQHIAQD4AQGYAgygApcJwgIOEAAYgAQYsAMYhgMYigXCAgsQABiABBiwAxiiBMICChAhGKABGMMEGArCAggQABiABBiiBJgDAIgGAZAGBpIHBDIuMTCgB5Mx&sclient=gws-wiz-serp#ip=1

No explanation. Perhaps you could write a sentence or two and shed some light.
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Bitcoin is limited supply and the halving is a pivotal event every 4 years when inflation of new bitcoins is cut in half

(borrowing from Michael Saylor), ever since 4/20/2024 (Asia time), there's a new buyer of bitcoin, this dude buys 450 bitcoins per day, every day, doesn't seem like much in the beginning, right?

In less than 4 months, that's 50,000 bitcoins that this dude has bought and he will never sell, that's over $3 Billion at current price

Before end of the year, that's $6 Billion worth of bitcoins the dude has bought if the price of bitcoin is $100k/btc or higher, that's over $10 Billion and when the price has gone up to $1,000,000/btc that's $100 Billion worth of bitcoins

This dude buys 450 bitcoins every day for the next 4 years and never sells (truth be told, he destroys the bitcoins so they never exist)

Frederick Foresight said:
Still doesn’t explain why it takes the market so long to fully react to a specific and foreseen event.
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It's called supply and demand, based on an equilibrium price at the current level, but the supply has been cut, and demand will eventually run into a supply shock

But I think you're just fucking with me, Frederick, we've been back and forth for 10 posts

, I DO NOT BELIEVE YOU'RE THAT STUPID, I've seen your posts, I can confidently say you have a higher IQ than me
 
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johnarb said:
Bitcoin is limited supply and the halving is a pivotal event every 4 years when inflation of new bitcoins is cut in half

(borrowing from Michael Saylor), ever since 4/20/2024 (Asia time), there's a new buyer of bitcoin, this dude buys 450 bitcoins per day, every day, doesn't seem like much in the beginning, right?

In less than 4 months, that's 50,000 bitcoins that this dude has bought and he will never sell, that's over $3 Billion at current price

Before end of the year, that's $6 Billion worth of bitcoins the dude has bought if the price of bitcoin is $100k/btc or higher, that's over $10 Billion and when the price has gone up to $1,000,000/btc that's $100 Billion worth of bitcoins

This dude buys 450 bitcoins every day for the next 4 years and never sells (truth be told, he destroys the bitcoins so they never exist)
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Still doesn’t explain why it takes the market so long to fully react to a specific and foreseen event.
 
Frederick Foresight said:
Wasn't there supposed to be a large bitcoin upsurge or bull run after the last halving?
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Frederick Foresight said:
Yes, but why the delay? The thing already happened? Slow Internet connections?
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Patience my son, halving only occured less than two weeks ago.
This month is a pullback month, a new month begins on Wednesday.
The market always does (mostly) that which is least expected by the crowd.
 
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^BTCUSD_Barchart_Interactive_Chart_04_30_2024.png

Monthly
 
The_Krakenite said:
Even where I work, I see cis-white-males now lying about their sexuality and stating they are gay (or bisexual if married to a female), just so they don't have to worry so much about their jobs due to DEI quotas and other penalizations.

Now just think about that for a minute. All this wokenomics has gone rapid-fire after being pushed the last few years by Blackrock's Woke ESG indexing.

Mr. Fink even brags about this, and having the power to FORCE society to change. If he has the power to do this in such a short amount of time, imagine the outcome of Bitcoin since he has stated clearly it's the best performing asset and the future...

Betting against Fink is like betting against the Fed. There are many who tried to fight the fed, and look at where that got them.
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Based on red state vs blue income levels sez betting against anti-woke'rs is the better bet.

Does Canuckleland do blue state red state?

Meanwhile WTF does woke got to do with anything, non-bitch related.
 
themickey said:
Patience my son, halving only occured less than two weeks ago.
This month is a pullback month, a new month begins on Wednesday.
The market always does (mostly) that which is least expected by the crowd.
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That doesn’t improve my understanding of the delay given that the event already occurred and is supposed to be fundamentally significant. I know that fundamentals don’t reflect fully and immediately in prices but this lag seems to lack a meaningful explanation. I’m not saying it won’t happen, since I don’t know these things about Bitcoin. I’m just saying that the market mechanics strike me as a little suspect.
 
Frederick Foresight said:
Still doesn’t explain why it takes the market so long to fully react to a specific and foreseen event.
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The halving only made a change to the supply and demand structure.

A lot of people seemed to think there would be an instantaneous 'doubling' to go along with it.

The change has been made to the structure and now the pressure begins to increase.

The crypto community has been very open about this too,any chart provided has shown the increases that have occurred in the 2 years after the halvings.

It has been misunderstood.

John,of course,has explained all this better.
 
Frederick Foresight said:
That doesn’t improve my understanding of the delay given that the event already occurred and is supposed to be fundamentally significant. I know that fundamentals don’t reflect fully and immediately in prices but this lag seems to lack a meaningful explanation. I’m not saying it won’t happen, since I don’t know these things about Bitcoin. I’m just saying that the market mechanics strike me as a little suspect.
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No stock just keeps rising every week or month, it's having a rest while it absorbs the last few months hard run up to its current top.
We have headwinds ahead, May to Nov are usually difficult months.
Bitcoin is partially correlated to Nasdaq as well.
 
orbit23 said:
But then you look at the circulating supply of Tethers and it all makes sense. they printed 100B in 3 years to keep the market afloat.
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I agree that there was likely some funny business with tether years ago, but that ship has sailed. If they survived all the collapses in 2022, there isn't anything left to bring them down now. And once again, the fact that they own USTs means even the government likely wants them to succeed. Just like Yellen is begging Japan not to sell USTs from what I read, government wouldn't want tether having to sell them either.

Now here is the thing, how much tether is actually circulating? How much is locked up? How much is offshore? Not every USDT was used to buy bitcoin. A huge part of the world needs access to USD and they don't care about BTC. This USDT allows them to have a synthetic dollar. So my point is that even if every last USDT was just printed, most of it didn't go into buying bitcoin. A large portion is just being used as a digital dollar.

And lastly, at the first sign of Tether having problems, what do you think happens? Do you think people send their USDT to an exchange, then trade USDT for USD and then withdraw to a bank? Only certain entities can actually then take that USDT and to go Tether, the company, and reedem for USD, thereby lowering how much is outstanding. My point is that if there is every any hint of issue, all the USDT gets exchanged for bitcoin, the safest crypto that cannot be seized. This would be highly bullish for bitcoin price.

I agree that it is extremely surprising how it keeps coming back every time.
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Spend some time thinking about why this might be. Even I had to go through this and then understand why Bitcoin is different.
 
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