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Overall 2023 was a satisfactory year, if you are seeing it from the perspective of bitcoin price.
5 more "satisfactory" years and btc is at about 500K
5 more? Seeing that we almost tripled the price in 2023, doing that again this year and next would take us to well over $300K.
I see it as more a case of 3 more "satisfactory" years to reach $1M.
Unfortunately the third year from now will probably be "unsatisfactory".
Exactly. I was thinking something like that, but I was having difficulties figuring out how to frame my response.
So in some sense Jimbo, you have pointed out the power of compounding and the power of exponentials, and surely it can be quite difficult to imagine how minuscule the raises seem to be on a regular basis, but when each of the seemingly tiny raises are put together they gain exponential and compounding power, and it is kind of like magic.. even though it is a phenomena that is right in front of our faces.. and surely why so many folks get so obsessed with reducing their average cost per BTC, and even that response to reduce your average cost per BTC is not as smart as the idea of accumulating during dip periods when people are crying, complaining, talking about sub $10k, promoting Ibonds and other kinds of negative ideas, and the quite bitcoin HODLer will frequently pick up some more coins during those kinds of times or at least not sell as many (and if he has to sell, perhaps temper his selling during those kinds of periods.. which ends up being quite powerful and even supplementary and maybe even off-setting coins that he sold at an earlier date and had considered he was never going to get them back and then all of a sudden he gets a decent portion of them back at bargain prices... like way more than 50% lower than the price he had sold them at... which who can refuse those kinds of bargains.
Another thing could be that if we have 10x, 20x 50x in profits, and we could easily sell 0.21 BTC to buy some furniture or maybe a some kind of a thing that we want, but instead of spending our bitcoin, we find another way to get the same thing or a similar thing (using some of our cash) and then just sell the BTC at some later date when the prices are 2x, 3x or higher than when we were contemplating, "which money should I spend first?" and no it is not necessarily the bitcoin that gets spent first.
50K$ here we go
Could be sooner than we think if Gensler stops being the cuck that he is and approves the damn ETFs.
We will have a decision on or before the 10th of January.
I'm still not 100% sold on the idea that we're going to jump on the ETF approval news instead of take profits, but I'm excitedly waiting to see what happens. You can see the market is still in rally mode even though 2023 is behind us, which I think is a good sign. Now to wait and see what sort of trading the ETF brings. I do feel like as we continue to clear news like the ETF approval, mtgox distribution, and halving event, the market will rally like we haven't seen before. I think 18 months from now we'll all be surprised how big the move upward was.
How much do you think bitcoin could reach in value this year?......
Value does not really change as much as price, but there are going to be a bunch of suits and even normies who hold retirement funds and institutions that are going to perceive bitcoin as being more valuable because they suddenly have access to it.. so that will quite likely contribute to its price going up.
Yes, we have seen estimates as high as $1 million per coin in terms of price in 2024.. which surely seems like a stretch to get to that kind of a price.. it most likely would not be sustainable if it reached that kind of a price so quickly... and I am wondering if BTC were to reach $1 million in 2024, then it would become much more difficult for 2025 to be a positive year..
I was kind of expecting that both 2024 and 2025 would be positive years, yet how positive? it is not easy to determine.
It could be anything.
And then at the same time, it is not likely that it could be anything because bitcoin has its own restraints, even if there is ongoing positive price pressure and currently a lot of FUD and scaring away newbies and even discouraging poor people through the blocking of the abilities to transact with lower fees... but hey, it will all work itself out, and everyone who is interested in bitcoin is going to have to figure out his path, even though some people might have more challenges in regards to the fees than others, and even if we might usually not send too many low value transactions, we sometimes still want to be able to do it without having to pay $20, $30 or more in transaction fees. which makes sending less than a few hundred dollars to seem unjustified in terms of percentage of transaction versus how much of a fee it is going to be.
it is difficult to predict that it will be a year of constant increase, but I agree that it will reach significant peaks, this is a common theme in most the comments,
Figuring out what to do based on comments does not seem like a good strategy.
because many of us are interested in the volatility of the market and its impressive reaction to certain news that allows values to move, either positively or negatively, and that is... it is what motivates us to continue investing in this currency or at least for some.
You probably should be using the term price rather than value, even though bitcoin is valuable and its value does increase with the passage of time, but you really seem to be talking about price... and so if you are investing based on number go up technology, there is nothing wrong with that..
but I would still wonder why get so excited about any specific moves in the BTC price unless you are trying to figure out how to time tops and bottoms... but why would you have to know in advance? And why would it matter if the UPpity happens this year or next year?
If we analyze these last few years, bitcoin,i have been a source of anxiety due to its radical rises and falls,
Oh? You like to talk about feelings? If you look at bitcoin's history, then why would the feelings be any greater this time around as compared to other times? There have been at least 4 cycles.. but even when there is a upward trend in price, there can be anxiety within the upward movement, but maybe from your perspective that does not count because it is just the down that counts? There were people who are able to buy more bitcoin when the BTC price was doing so badly (relatively speaking) between about May 2022 and October 2023... but even with that, there were some good uppity periods even in that price depressed period of time... especially the whole of 2023 ended up playing out pretty positively even though there were periods of uncertainty but really, the doldrums were likely more so between about June 2022 and November/December 2022, but part of the problem in mid-2022, we did not necessarily know about how worse our doldrums were going to get until the FTX matter ended up falling out in November/December.
but despite this it has not disappointed us and it is still considered that it could once again have that impressive boom that it had in its beginnings and until you overcome it.
The digital era will be governed by bitcoin sooner or later, it will be the universal currency desired by many, it will change the financial system.
Bitcoin will continue to be volatile.. it is inevitable and there is a war going on, which is not going to stop.
Bitcoin is already changing the financial system and influencing it in ways outside of its wishes, with some people welcoming such neutral ledger and others not so happy about their own perceptions of losing control, and there is no reason to speculate that bitcoin is going to stop its ongoing and persistent influence of financial systems, even if there are still a lot of folks who consider bitcoin as a confusing thing that could not really have value because a bunch of kids on the internet are talking about it... so it could take a long time for those folks to come around to bitcoin, maybe a couple more cycles, even though bitcoin's adoption continues while some people just keep ignoring it, downplaying it and refusing to make sure that they have a stake in it.. which is not really the members of a forum like this who generally are actively figuring out ways to stock up on it, as best as they can... even though some are distracted by shitcoins and others are trying to trade bitcoin, which seems kind of retarded, but some people, even active forum members, do not realize the power of boring kinds of BTC accumulation techniques that involve ongoing buying and also if you don't earn enough money to figure out ways to earn more and perhaps spend less in order that you are able to increase your BTC stash size in a relatively aggressive way, without going overboard in terms of being too aggressive that you don't end up protecting yourself from overdoing it.
I would give you -50 merit for posting this if I could. Cramer is the biggest cooler in the world . Damn you !
Haha, that was my knee jerk thought as well until I realized they must have accumulated what they want and they are allowing a pump to the plebs now.
maybe i mindrust it tonight
We are not in a mindrust type of a situation.. so you could go in either direction...
not like the mindrust situation that was not so ambiguous.. it was almost obviously not a time to sell.. so in that sense you might need to explain how this is a mindrust situation - beyond just saying that if you sell a large portion of your stash becuase you are expecting down, and then saying it is so obvious that the price is going to pump 2x or some crazy thing like that? I am still having trouble thinking that we can just breeze into noman's land, which is $55k to $82.5k.. and sure it is possible that we could just shoot past noman's land and then realize that it was not really sustainable to get another 2x from here and then we correct 30% to 40%, which would put us right back at current prices... not sure how long ti would take to play out, but maybe all of this within 6 weeks and then we get a halvening recovery.. I am realy winging it now.. look what you do to me, @philipma..
Just been eating breakfast while spotting on the table next to mee
An little older man +50y watching a podcast, switching over to some charts and ETF stuff
.
Fun to observe while drinking a latte for the morning
#HODL
Might be one of your WO brethren.
Perhaps?
Did you show him "the sign?"
