Congrats to all the hodlrs!!!

Gold closed the day, week, month, quarter at an all time of $2251 on 3/29/24 and closed the 1st week of April at a new ATH of $2330. Now at a new high of $2375

With BTC up near ATHs as well it appears that people are waking up to what a mess our betters have put us in. Good luck to all the smart people who saw the damage being done to our fiat system of currency and chose an alternative. Let's all hope that this good fortune doesn't come at too great a cost.

$72k 3/11/24

$70,199 3/8/24

$69,324 3/5/24

68.49 Nov 9

66.99 Oct 20

64.8 Apr 14

63.2k Apr 13

61.7k Mar 13

58.3k Jan 21

57.4k Jan 20z

56.3k Feb 19

52.6k Feb 18

51.7k Feb 17

50k  Feb 16

49.7k Feb 14

48.9k Feb 11

47.4k Feb 8

44.9k Feb 8

43.8k Feb 8

41.6k Jan 8

40.4k Jan 7

36.8 jan 6

34.1k

32.8k Jan 2

31.2k Jan 2nd 2021

Update: Blackrock, the worlds largest asset manager that manages $7 + TRILLION says they are “dabbling” in bitcoin. I don’t know how big a dabble is but a dabble of 7 trillion has got to be a lot.

Update: Elon Musk just tweeted that Tesla will buy $1.5B of bitcoin and begin accepting bitcoin as payment for Tesla cars. Bitcoin soars.

Update: BTC is up 6k in the last week of 2020 first days of 2021.

Update: Bitcoin reaches new ATH over 24k Dec 19 2020. Up 5k in the last week and 8k in the last month.


From 11,400 to 17,900 in the last month. ATH few years ago was about 20k.

I wonder whatever happened to the board member here who cashed out 21,000 bitcoins when it hit a thousand bucks. It’d be worth nearly 400 million now. Yoiks!

link to live crypto prices

Not quite the same situation. GBTC wasn't an ETF, didn't have any kind of redemption mechanism, and to the best of my knowledge also couldn't create additional shares on demand. That's why it swung between discounts and premiums. The new spot ETFs on the other hand would have any meaningful discount or premium arbitraged away by qualified market participants forcing either redemptions for cash (if at a discount) or creation of shares (if at a premium).

More like at the peak of this cycle.

Want to play a game?

Since we’re in a period of nice volatility this could be fun.

Guess the price Bitcoin will be on Wednesday March 20th at noon EDT.

I’ll go first: $78,480.

$72,069

That's 2 hours before the Fed decision, so I'll say right in the middle of the range from the last few days: $69,400

$75,000.

Praying for $10,000.

$71,400

$68,350

$65000 on Wednesday since I'm trying to get some fbtc at market opening tomorrow, if I don't get any then $75000. Sure would have been nice to get some over the weekend when btc was at $65000 but no, markets are closed.

that guy eats cats

So shit coin discussions go in the other thread?

Yes, please.

oke

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Neat post:

https://twitter.com/MacroScope17/status/1769400435188601164

I wonder how many really understand the bitter opposition by policymakers to Bitcoin and especially an ETF.

Gary Gensler doesn't really hate it because of investor protection (that's only a minor reason). Elizabeth Warren doesn't actually think its criminal use is significant. Obscure members of Congress who seem to pop up out of nowhere -- with Bitcoin, of all things, strangely on their minds -- and who repeat these tiresome objections (often in laughable letters to the SEC) are in many cases quietly pushed to do so by others, including from the Fed, who understand the real threat:

In a system that depends on irresponsible government spending (especially for perpetual war) and fiat printing to cover that irresponsibility, alarm bells cannot be allowed to work. There must be no pure price signals. And above all, an alarm bell must not also serve as a life-raft that's easily accessible to everyone, especially the general public, in the form of an ETF. There must be no escape hatch.

This is an unstated but important motivation for the longstanding resistance to Bitcoin and especially an ETF. It's also why the three-judge panel of a federal appeals court that in 2023 essentially forced the SEC to approve the ETFs may ultimately turn out to be the most unsung but consequential people in the history of U.S. financial markets. After that court's ruling, you could almost hear public policymakers and some influential private-sector figures -- names that everyone knows, and some very important ones who stay out of the news -- smack their foreheads and say, "Those damn judges, don't they realize what they've done?"

The system's defenders have always understood that life-rafts and escape hatches can't be allowed. Here's Christine Lagarde talking about Bitcoin in 2021 (ostensibly about the need for global cooperation on regulation, but the larger point was clear): "If there is an escape, that escape will be used." Here's a seminal essay by Alan Greenspan in 1966, when he was still in the private sector:

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions...In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

I'd say the antagonism towards Bitcoin qualifies as "hysterical," wouldn't you? And in terms of "protection," in a political system defined by profligacy and incompetent policy (especially monetary policy in recent years), a free-trading asset that serves as protection and -- via its price action -- starkly highlights those two faults is resented and hated.

This is why the Bitcoin ETFs in particular are so important, and why they were bitterly resisted for so long and the SEC only approved them after being forced to do so by a court decision. Gold is usually slow-moving and can be suppressed -- and even if it does rise to $2500 or $3000, DC and the Fed certainly won't like it, but it won't set off systemic alarms and the public mostly wouldn't notice. But if the ETFs help drive Bitcoin into the hundreds of thousands of dollars, the headlines will be screaming and the public will start asking uncomfortable questions. With the Fed desperate to cut rates and a potential second inflation wave looming, it's easy to see why, from a policymaker perspective, the timing of ETF approval could not have been worse. And now Bitcoin and the ETFs -- as permanent, fast growing and highly visible canaries in the financial system -- will be perpetual burrs under the policy saddle.

A telling postscript: Decades after Alan Greenspan wrote that essay about gold, Ron Paul asked him to autograph a copy of it as Fed chairman, and he asked if Greenspan wanted to add a disclaimer to it. Greenspan replied "I stand by every word" and signed it.

More like the peak of next cycle. He'll be there saying TOLD YA IDIOTS at the end of this one. Then sit on his hands 4 years into the peak of the next one when his FOMO finally develops and it clicks.

This post might break the internet.

Has anyone used Pionex successfully?

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plausible

^^ I’d prefer to just keep going up and to the right. Can we just do that?

I sent 10 SOL to an anon frog artist today. Probably should have sent 100.

Everyone always tries to anticipate what they think will happen and get positioned before everyone else.  I wouldn't be surprised at all if this current rally stagnates only to take off later this year.

Human nature is what it is, and while each cycle looks a little different, they are all being driven by people who are mostly reactionary.

We finally get the chance to front run the institutions and dump on their heads and y'all just want to DCA into ETFs.

Enough to make Satoshi puke if he wasn't so rich.

Seems to be all the rage right now. Hope it fucking dies soon.  For every good one, seems like there's 10 scams.

Mostly scams for sure. Be careful out there.

I'll update how this one goes, good or bad.

I'm fully prepared for this 10 SOL to be lost forever.

Good luck. Hope you don't get rugged or Slerfed.

Bought the dip a couple days ago. It kept dipping so I bought more.

Let's get one of those 30% retraces, then to higher.

If you were on Bitmex, you might have scored at like 10k per BTC. There was a crazy wick down there.

49999

$61,243

$69420

I'm betting the Fed comes across somewhat dovish and signals cuts this year despite the hot inflation prints.

Anybody that gets shook by this price action pre-halving doesn't need to be crypto at all.

How can you not have balls of steel after everything we've been through?

Bought some fbtc yesterday morning and down it goes, lol, not selling anytime soon, just missed out on getting a few extra shares.

Noob with a market sell.

https://www.coindesk.com/markets/2024/03/19/bitcoin-flash-crashed-to-89k-on-bitmex/

Bitcoin Flash Crashed to $8.9K on BitMEX

Good morning. I am posting for the first time in 4 years here to take possession of these high quality meme.

Help me out here... I'm pretty stupid, but all the bitcoin exchanges are basically companies started for the purpose of buying/selling/holding bitcoin.  
Given the volatility at a smaller exchange shown in the above article, it seems like having limit orders significantly below the trading price on smaller exchanges could be immediately profitable.  Do people do that?  

I bought so much over the last 2-3 weeks at the higher prices that I'm roughly net-0 at today's prices.  
I'm out of tax-free cash now, I set up a weekly buy of fbtc with taxable cash going forward.  

Yes, all the time.  I actually advised it in this thread many years ago because flash crashes happen once or twice per year.  There's been some crazy ones like Ethereum going from $317 to $0.10 for a brief second back in 2017.

Maybe less likely on the big exchanges like Coinbase these days but still possible.

The downside is that you have cash tied up which may or may not end up catching one.

Well then today is your lucky day.. again.

Dip Dip Dip DIp

Hope prices stay low/ drop more through July, TBH. Just paid taxes. BOO!

Also, I've decided to sell the car I purchased with crypto profits (previously shared in this thread) from the last bullrun to dump back into crypto for this one.

Fingers crossed for a quick sell.

Class of 2024 getting an early lesson on Bitcoin bull market volatility.  It's never a straight line up.  Every single one of these circled events in the 2017 bull market represents a greater than 25% correction and lasted anywhere from one week to over a month.  Every single one made people sick to their stomachs when they were happening because you never knew if one of them was going to be the end of the bull market.

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Bitmex is a trading platform that you can trade spot, options and futures. Usually when you see a flash crash like this, it's on a trading/spot exchange with some obscure trading pair that has very low liquidity and someone does a market sell.

I used to have a few really low bids on a few exchanges with the more obscure stable coins. The biggest risk is that money you having sitting going to zero when one of the stable coins takes a huge shit. I luckily didn't have any exposure to Luna's stable coin.

http://amp.coincodex.com/article/22749/what-happened-to-luna/

Wish I wasn’t chasing alts during that run.

Would have been life changing

God whispered into my ear today. He said, "Jagrmaister, go ahead and buy another 100k satoshis. You deserve it."

So I did.



When break down? Still chasing 2017. Appears U-G-L-Y. Fate of ALL alts...ALL everything really...

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I've never heard of bitmex - I assumed the small size and thus small volume of trading on such exchanges could create volatility exclusive to only that exchange?

Sure some cash is tied up, but $1k tied up waiting for a transient drop to a fraction of the current price could be a lucrative diversification to one's portfolio!

I think that's a fair assumption.  These kinds of trader error flash crashes are kind of by definition isolated to the exchange where they occur.  The smaller the exchange the more opportunity for it to happen.

It isn't just the exchange, it's driven by the trading pair that has low liquidity. Here's a market buy on Binance with USDC on March 12th, 2023 that drove the price up to almost $50,000. Would've been nice to sell that and buy the next day huh. So the same is true in opposite directions too, BUT, then you have to leave BTC on exchanges too.



$48,500 March 5, 2024. BTC Euro trading pair on Coinbase.



Coinmarketcap lists the volume % and dollar amount of each trading pair on each exchange. Like I said, I've tried previously to catch some of these wicks , both up and down, with some of the low volume/liquidity. Never had any luck.

https://coinmarketcap.com/currencies/bitcoin/#Markets