Bitcoin up 35% since January 6th but.....

[SB Labs]

Just read an interesting article by a professor of business who has dedicated himself to being a Bitcoin guru kind of like we think we all are haha. But what he says makes sense we are headed in the direction Bitcoin was on the rise in 2017 and 2018 he says within the next 6 to 8 months Bitcoin will jump to $100,000 per coin. What's your thoughts? I will try to find the article and do a link for everyone to read.

 

[buck]

I find proponents on a topic talk about how great there cause is. And those that feel different spend their time berating the same thing and make a good case for that as well. I try to read a wide selection of sources especially those not monetarily involved to get a true perspective.

 

[Ranchhand]

Just read an interesting article by a professor of business who has dedicated himself to being a Bitcoin guru kind of like we think we all are haha. But what he says makes sense we are headed in the direction Bitcoin was on the rise in 2017 and 2018 he says within the next 6 to 8 months Bitcoin will jump to $100,000 per coin. What's your thoughts? I will try to find the article and do a link for everyone to read.

I don't have an educated thought about it but would be happy to see it shoot up seeing I have a little invested in the crypto market. As an investing experiment I have a little in BTC and ETH, plus two companies that are directly involved in the crypto market. It would be nice to see some gains.

 

[Zarati]

Do not listen to ANYONE.

Weren't they saying Bitcoin is hedge against inflation?
Bitcoin is hedge against recession?
Bitcoin is going to hit 250k by 2023

That's what they all said.

The higher ups love to pump and dump the markets, that's how they make money.

I think there's one more leg down to 10-13k before it goes up looking at the chart

 

[Cerberus777]

It's going to go up again, but know one knows by how much. Unless it becomes used more as a means of payment retail. It really requires a day trader mentality right now.

 

[slesh]

Honestly have no clue at this point - not going to pretend to be an expert. I bought a shit load of Bitcoin and Ether to diversify and hedge against my stock portfolio. So having said that - I hope this shit moons lol!!!

 

[Virtuous]

Honestly have no clue at this point - not going to pretend to be an expert. I bought a shit load of Bitcoin and Ether to diversify and hedge against my stock portfolio. So having said that - I hope this shit moons lol!!!

It’ll spike to 70-100k within a year or two then bottom out again, but if we catch it anywhere near the apex and cash out I’ll be up a tidy sum.

 

[slesh]

It’ll spike to 70-100k within a year or two then bottom out again, but if we catch it anywhere near the apex and cash out I’ll be up a tidy sum.

Yeah if it hits 100k I’m washing my hands of this shit lol

 

[SB Labs]

Yeah if it hits 100k I’m washing my hands of this shit lol

This is the best reply yet

 

[K1]

There are two scenarios circling the cryptosphere right now...That this cycle is actually in a 5th wave and $69k was not the top only a final bounce at the beginning of the 4th corrected wave.

If that's the case I would expect btc to top out at $125-$150k-ish for this cycle.

Second scenario is that this is just a prolonged pump and dump and a lot of wash trading to manipulate trading volumes...Which will correct back down to $18-$19k before correcting down further towards $12-$14k...Before it's start back up around the Mar 2024 halving and heading towards that $100k into 2025.

So, like everything else in this species...It all depends on which side of the aisle you stand on - aside from those that still say it's going to $0 once real regulations are applied (but I believe the count stands at around 465 times that the msmedia has stated it is headed to $0 since it's inception).

 

[Earl]

Hope it hits 100 I missed out last at 70 thinking it was going to 100.
I got in at $400 so it's all good even at 4000

 

[Elvia1023]

There have been 100's of articles over the last 5 years about how BTC is going to reach $100k later in the year. K1 summed things up perfectly. If I had to guess it will go up a bit more and then crash again and we won't be seeing $100k this year but I do think it will come eventually. If it does I don't see it lasting long though.

 

[Performance Based]

I started taking a look at "alt-coins" that actually have a utilitarian function and consistently have a high volume of trade volume. Really liking the coin XLM right now. Bought heaps of it at .08, all time high is around .72. Their trade volume hasn't declined throughout this latest debacle.

 

[Campeon]

Bitcoin is freedom coin. It's the a true free-market system that can not be manipulated by
central banks or government.

The only mistake you can make with cryptos is not buying.

 

[SL1CED]

Too many sellers will come out of the wood works if it goes up to 100k anytime soon. I think it goes up to low 30s in the short term, before dropping back down once Fed changes rates. People are pricing in a pivot, once that pivot happens air will be let out of the bag. And if it doesn't happen, it drops harder.

 

[hawkmoon]

Crypto is a highly volatile asset, and is as recently shown correlated to traditional equities as it is as vulnerable to risk as any other speculative trade.
It's hedging properties were founded on hope, and not logical thinking.

The technology is being adopted, particularly distributed ledgers within and between banks and smart contracts, which may support some value.
This mostly true for Ethereum however, as that is where the utility is.

I do not believe Bitcoin will appreciate to $100K however, as that is only vestigial and hopeful speculation and not grounded in any reality other than a distrust of fiat currency and the Federal Reserve.
Nassim Nicholas Taleb has thoughts on it that I find interesting, having been a proponent in the past only to re-examine his own views as more data became available.

Keep in mind Bitcoin was never designed to even be a highly valued asset, but just a way to easily move money and avoid the double-spend problem by using a immutable distributed ledger.

MIT OpenCourseware has Gary Gensler's entire graduate lecture series available on line and is a good reminder of where this all started, perhaps giving some insight to where it may ultimately go.

Blockchain and Money | Sloan School of Management | MIT OpenCourseWare

This course is for students wishing to explore blockchain technology's potential use—by entrepreneurs and incumbents—to change the world of money and finance. The course begins with a review of Bitcoin and an understanding of the commercial, technical, and public policy fundamentals of...

ocw.mit.edu

 

[old timer]

I think we've experienced a bear market rally aka dead cat bounce in January and that we're headed downward again in the not too distant future. I'm all cash but did make a little money on Google buying it at around $86 per share on Dec 28. It got up to $107 earlier this week and put in a stop loss at $105 that was executed at the opening of the bell on Friday at $103 but I made about $6000 in five weeks.

My only other position is MDT, but I don't think it'll fly as fast as GOOGL

 

[VaginaBoob89]

There are two scenarios circling the cryptosphere right now...That this cycle is actually in a 5th wave and $69k was not the top only a final bounce at the beginning of the 4th corrected wave.

If that's the case I would expect btc to top out at $125-$150k-ish for this cycle.

Second scenario is that this is just a prolonged pump and dump and a lot of wash trading to manipulate trading volumes...Which will correct back down to $18-$19k before correcting down further towards $12-$14k...Before it's start back up around the Mar 2024 halving and heading towards that $100k into 2025.

So, like everything else in this species...It all depends on which side of the aisle you stand on - aside from those that still say it's going to $0 once real regulations are applied (but I believe the count stands at around 465 times that the msmedia has stated it is headed to $0 since it's inception).

I think this is very likely what's going to happen. We're in some sort of bull trap but macro conditions are still terrible and (smaller) rate hikes are going to continue for a long time, erasing some of that liquidity current in risk-on assets. No real bull run until after the halving, and that coincides with about when interest rates trend downward. 6 figures btc in 2025/2026 seems likely.

 

[K1]

I think this is very likely what's going to happen. We're in some sort of bull trap but macro conditions are still terrible and (smaller) rate hikes are going to continue for a long time, erasing some of that liquidity current in risk-on assets. No real bull run until after the halving, and that coincides with about when interest rates trend downward. 6 figures btc in 2025/2026 seems likely.

And this is what leads me to believe that it is the first scenario...A lot of bulls pumping the market with a lot of people on the sidelines waiting for that 18K, 14K, 10k. Now would be the perfect time to pump to a new ATH while everyone is waiting for the corrections.

Remember that whales holding, waiting for their targets to dump their bags don't want to dump at a point where everyone is expecting...Everyone waiting until the halving for the rise (like the usual course), would make for a perfect backdrop to push that amount up over the next 6-8 months before crashing the price back down heading into the halving - leaving everyone that was waiting on the sideline left with their mouths hanging open in a WTF moment.

Everyone thinking that btc can't possibly shoot that high within a very small time frame haven't been paying attention...At below 10k is when it shot up to 69k within 2-3 months without even a hassle. 100k is absolutely no problem, especially with the Sovereign Wealth Funds overseas waiting to dump 1-3% into btc alone once their regulations are finalized.

Right now, the only REAL manipulation that is happening in the market is being done due to the US govt...If they would finalize regulations it would clean out the industry within a year. They are leaving things as-is because market chaos is good for their fear-mongering business.

 

[yousef12O]

Just read an interesting article by a professor of business who has dedicated himself to being a Bitcoin guru kind of like we think we all are haha. But what he says makes sense we are headed in the direction Bitcoin was on the rise in 2017 and 2018 he says within the next 6 to 8 months Bitcoin will jump to $100,000 per coin. What's your thoughts? I will try to find the article and do a link for everyone to read.

they said the same thing 2 years ago