Are we excited yet?

circadian

https://www.boards.ie/discussion/comment/121868052#Comment_121868052

Yeah I was hoping for a 12k dip too, I just done my usual alts DCA during that time. It's hard to tell what will happen this year, if the ETFs are starting to get momentum then I would expect SOL/ETH/Whatever else bundles to start getting put together.

Donald Trump

https://www.boards.ie/discussion/comment/121867941#Comment_121867941

EDIT: And just to clarify, 40% is the minimum decline I would consider remotely acceptable for realising the 33% tax

You should work out the maths on that.

Let me give you an example scenario. Two people buy in the same amount at 15k. It later hits 75k.

Person 'A' sells at 75k and pays their CGT. Buys back in with the net proceeds after a 20% drop to 60k.

Person 'B' "hodls".

If nobody makes any further changes, at what later price do you think that B becomes better off (either on paper or they both cash out at the same time) than A?

BKtje

https://www.boards.ie/discussion/comment/121868052#Comment_121868052

Interesting that you think that we are near the top before the halving which historically has never happened. Not once. If you aren't bullish coming into a summer where interest rates are dropping, etfs are buying and the halving around the corner then I don't understand how you could ever be bullish.

BKtje

For the record as I think it's important. The Etf's own 4% of all available Bitcoin after less than 40 days. It's only the start.

antimatterx

https://www.boards.ie/discussion/comment/121868786#Comment_121868786

Interest rates dropping is not a bullish sign.

BKtje

It is actually in my opinion , people want a return on their money so go looking for riskier assets which will give them that return. Also more money sloshing around as people borrow money

antimatterx

https://www.boards.ie/discussion/comment/121869479#Comment_121869479

It's an indication of a weakening economy. Not bullish. If the economy is strong with high interest rates, they will leave them high

BKtje

Not necessarily, interest rates in Switzerland for example have been low or even negative for a decade. Hardly a weakening economy though I confess an exception.

When the fiat money tap is turned on everyone gets their some of the share via some kind of stimulus. Anyone who is comfortable invests that money. We saw this during covid. Down the line however the payment will be due and is generally paid via inflation and tightening again of the taps.

Weakening economy is strengthend through stimulus which will also flow into crypto.

Norrie Rugger Head

Broken record here but... Jesus Christ Fetch

erlichbachman

It keeps on giving, probably worth having a look now at some of the smaller cap AI tokens too

Potatoeman

Kamino finance airdrop next month. Wormhole airdrop this/next month. These are current 5-10k each. Add the Pyth airdrop last month. Ridiculous free money being made. I’ll be dumping a half and buying back when they dump after the airdrops.

Edit: Be careful with links, don’t just take the first one from google, there will be loads of scams about.

Norrie Rugger Head

https://www.boards.ie/discussion/comment/121870536#Comment_121870536

If I had any clue of sleepers I'd have them posted.

Not an iota

Potatoeman

Crypto market be like:

el diablo

https://youtu.be/qBPtUf50XVg?feature=shared

Saylor is sometimes a little hyperbolic but this is a decent interview....

Pdoghue

Did anyone else read the article by McWilliams in yesterday's IT? https://www.irishtimes.com/opinion/2024/03/09/david-mcwilliams-bitcoins-real-value-is-based-on-the-greater-fool-theory/

It's dreadful stuff.. full of lazy analysis, cliches and inaccuracies. He seems to have totally forgotten the interview he did with Saylor a while ago where he seemed to have accepted BTC as an asset rather than a currency.

endainoz

https://www.boards.ie/discussion/comment/121874175#Comment_121874175

Subscription only article, possibly against the rules, but any chance of sharing some of the text from the article?

fritzelly

https://www.boards.ie/discussion/comment/121874200#Comment_121874200

Not worth the time reading, btc bad, no value sums it up, feels like he's picked paragraphs from other places

Dohnjoe

https://www.boards.ie/discussion/comment/121868052#Comment_121868052

In 2018, Eth dropped to 100 (from ATH 1500) and BTC to approx 3k (from ATH 20k)

Back of the napkin: since Eth hit ATH of 4500 in 2021, a similar drop would have meant a low of 300 during this bear. I doubled that 300 to 600 ("cat out of the bag") and added a bit, 750. That became my approximate buy-in point (gradual buy ins) for this bear.

My buy pressure is off, which is nice for once, but obviously I was monitoring. Eth bottomed out at 1k, so I didn't pick up much. BTC was similar.

Each bull has a point of hype (in 2013 it was BTC, in 2017 it was Alts, in 2021 it was Defi + NFTs + memecoins/Musk). For the next one I couldn't really see anything but AI. So I picked up some AI alts, and some other "easy to buy low caps on CB/Revolut" long-shots. With hindsight I should have picked up more Eth/BTC but as mentioned it never really reached levels I wanted to buy at this time around.

I think we're near the top for this year. We'll dump 50%, and then smash ATH again. I'm bullish on BTC, just not coming into the summer.

Indeed I wouldn't be surprised to see some sort of double dip thing or something slightly strange happen. That said, this time, apart from AI, I can't see where the hype will be generated from, so possibly less FOMO from joe public. On the flipside, it's a hell of a lot easier to instantly buy crypto with cash than it was in the past.

cnocbui

https://www.boards.ie/discussion/comment/121874175#Comment_121874175

BTC is both assset and currency, just like gold. The fact that both are currently more used for one purpose than the other doesn't alter their intrinsic nature. Portugal and several other countries and several US states consider BTC to be a currency.

A Georgian piece of furniture is an asset, you can't pay for things or transfer bits of it as payment, which you readily can do with BTC if the recipient accepts it.

As for McWilliams, I havent seen anything coming from him that could remotely explain why he seems to be held in such regard, other than he's Irish.

byrne249

https://www.boards.ie/discussion/comment/121868052#Comment_121868052

It's a very brave stance I'll give you that! In your other comment you say Interest Rates are going to have an effect. Even though interest rates dropped fairly consistently between 2009 and 2019 and we all know what direction the price of btc went.

I know what they say about past performance but you are making a contrarian call based on no historical precedence in the face of liquidity drying up faster than it ever has in the past! All I can say is good luck and I hope it works out for you!

erlichbachman

https://www.boards.ie/discussion/comment/121870614#Comment_121870614

It seems during a bull cycle there are categories that usually do well, and most within that category will take off. Last time it was decentralised finance, this time the categories seems to be AI and also seeing DePin mentioned a lot lately, others can probably throw in more categories.

Still a gamble and wouldn’t want to throw money in there that can’t afford to be lost entirely.

byrne249

https://www.boards.ie/discussion/comment/121868494#Comment_121868494

I'm talking from a pure risk/reward stance. To me it's utterly pointless trying to hack another 5%-10% profit out of a scenario that has never happened before. Even if you got it right 50% of the time you'd still be in the red because when this thing breaks it could slap you with an immediate massive opportunity cost that is in essence a loss. However, if that's your game, that's all well and good and I won't counsel against anyone doing it. I just find it odd

Unearthly

Right lads I reckon we are in for an interesting week. A proper break of 70k or maybe a rejection?

I always find these moments more stressful than buying in big red days

Grumpypants

https://www.boards.ie/discussion/comment/121874175#Comment_121874175

Haven't read that but listened to a few podcasts and he seems stuck on money needs to be spent otherwise it's got no value.

But I can also keep cash in my bank account and it's got a value. It's there to allow for the rainy day. Similar with bitcoin. Yeah I can't buy my cans in Londis with bitcoin but if my rainy day fund is in bitcoin then I'm happy to spend the cash in the economy.

Dohnjoe

https://www.boards.ie/discussion/comment/121874354#Comment_121874354

Keep in mind cigarettes in prison can be used as "currency".

BTC can be used as a type of money, like other similar divisible items, but that's not to be confused for automatic suitability as a currency.

We could hypothetically pay for things in e.g. Tesla shares, but we don't for obvious reasons. The same applies to BTC, where it's more commonly used as a speculative asset. 99% of it's use is in speculative trading.

For example, think of buying a house with BTC, before you've finished signing the contract it could have moved up to 10% against the buyer or seller, paralysing the sale. Sometimes excuses are used (it'll stabilise with "time", "market cap", "adoption") but this is why, apart from novelty purchases, we liquidise our assets into something relatively stable (e.g. cash) before making purchases.

BTC is both assset and currency, just like gold.

Somewhat. It would be more accurate to say, BTC is both an asset and can be used as a type of money.

Dohnjoe

https://www.boards.ie/discussion/comment/121874503#Comment_121874503

Indeed, one of cash's primary functions is as a medium of exchange.

Inflation typically reduces it's value over time, so in the short/medium term (and as a hedge) we can have some in the bank. But for long-term, it's often why we invest a portion of our medium of exchange into assets (e.g. shares, property, gold, crypto, etc)

The number of crypto developers who don't understand some or all of these concepts is shocking (I've talked to developers of a popular alt coin and they didn't have a notion of this elementary stuff, they just thought they could mint x amount and that automatically made it a currency and "stability" would just magically arrive at some random point in the future)

cnocbui

https://www.boards.ie/discussion/comment/121874570#Comment_121874570

I have actually used BTC to purchase things many years ago, but I absolutely own to mostly using it as a speculative store of value. You could buy a house with it and it shouldn't be problem value wise as the current transaction times are about two hours, so any value change would be constrained and the buyer and seller would likely accept that the value can vary rapidly.

tk123

Long time lurker and hodler.. I hit my target yesterday and cashed out! So it’ll all probably sky rocket now lol 😂

ZMOONY

https://www.boards.ie/discussion/comment/121874936#Comment_121874936

yea, bit of dip around April and moon around september

ZMOONY

https://www.coindesk.com/markets/2024/03/10/blackrocks-spot-etf-nears-200k-bitcoin-passing-michael-saylors-microstrategy/

blackrock passes micro