Bitcoin supply shock will come, price will make new ATH - page 2.

kotajikikox

full member

Activity: 2590

Merit: 228

Quote from: Agbamoni on May 23, 2024, 04:27:59 AM

Perhaps during the dip many were looking for sellers to sell but everybody held to their coins and it green to choose to sell to the hungry buyers.

During price decline, it just means that there’s not much demand to buy bitcoin and those who are holding it are basically not in any pressure to sell.

Now however during times of price increase, those who have held since a long time ago might now see an opportunity to finally claim their profit. As the price rises, more and more people are going to want to buy which will further increase the value of bitcoin.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: Kelward on May 23, 2024, 07:38:46 AM

I can't agree less with your speculations, every events in the Bitcoin space are indicators that we're going to experience a massive bull run and a new ATH price in it's peak. The Bitcoin ETF and halving this year had prepared us for a supply shock, like you phrased it, so it's not late to start or continue accumulating because harvest season will mature in bull run ATH.

I don't speculate but my belief is that supply shock will help price because Supply and Demand Principle always works. It does not show effects immediately but supply shocks and increasing, bigger demand will absorb gradually in the market and participants. When skew between supply and demand is big enough, we will see big reflection on price.

It is true that on chain parameters can be changed quickly because people are free to move their bitcoins on chain any time. They can move their bitcoins in exchanges or out exchanges very quickly but I believe the Supply and Demand Principle is important.

Halving will cause a skew between Supply and Demand towards Demand, that will help trading volume and price.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: OcTradism on May 22, 2024, 10:29:18 PM

Keep up your DCA, if you have money to DCA more bitcoin and keep up your Bitcoin hodling, do it patiently with time, in coming months,

We all have to be patient. While there have been hypes left and right on the crypto market, Bitcoin remains to be stably moving up and crossing back to its new ATH that has been reached.

Quote from: OcTradism on May 22, 2024, 10:29:18 PM

you will be rewarded very good profit.

Only if they will be patient and able to make it because in the upcoming months, surely there will be greater prices and they're going to be tempted to sell.

But no matter at what prices they sell, if they're in profit then that's the main reason why we've held.

Kelward

sr. member

Activity: 588

Merit: 338

I can't agree less with your speculations, every events in the Bitcoin space are indicators that we're going to experience a massive bull run and a new ATH price in it's peak. The Bitcoin ETF and halving this year had prepared us for a supply shock, like you phrased it, so it's not late to start or continue accumulating because harvest season will mature in bull run ATH.

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Quote from: pakhitheboss on May 23, 2024, 06:46:54 AM

The topic looks more like a speculation one than a discussion to be fair. The topic headline looks more like a clickbait to be fair than an actual discussion.

That is because it is.

Quote from: pakhitheboss on May 23, 2024, 06:46:54 AM

I am not denying the fact that Bitcoin ETF is the singular effect that helped Bitcoin break it's ATH before the halving. This price surge will be the first in the history of Bitcoin price that happened before an organic bull run happened. By organic bull run I meant a demand created naturally due to halving. I am loving it and all those who have been diamond hands or those doing DCA.

There are / were other factors at play too. There are / were a lot of other things that made people look at other assets for investments then traditional ones.

Quote from: pakhitheboss on May 23, 2024, 06:46:54 AM

I will still not believe in charts as mostly they are incorrect with Bitcoin prediction. I prefer news over charts as that is how Bitcoin has been surviving over all odds till now.

Glassnode talks out their ass. They act like they know everything and it has been proven many times that they are wrong.
They see a bunch of BTC "leave" an exchange and tell everyone it's outflow. A few weeks later it is found out that they moved the BTC to what was at the time an unknown cold storage address that still belonged to the exhcnage....

-Dave

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: OcTradism on May 22, 2024, 10:29:18 PM

snip..

The topic looks more like a speculation one than a discussion to be fair. The topic headline looks more like a clickbait to be fair than an actual discussion.

I am not denying the fact that Bitcoin ETF is the singular effect that helped Bitcoin break it's ATH before the halving. This price surge will be the first in the history of Bitcoin price that happened before an organic bull run happened. By organic bull run I meant a demand created naturally due to halving. I am loving it and all those who have been diamond hands or those doing DCA.

I will still not believe in charts as mostly they are incorrect with Bitcoin prediction. I prefer news over charts as that is how Bitcoin has been surviving over all odds till now.

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: yazher on May 23, 2024, 05:51:43 AM

This is what we expected after the halving event because after it mostly we gonna experience a rise in the price of bitcoins which creates a new ATH based on its past history. right now we are seeing it's happening again that's why everyone was recommended to hold when they saw that nothing has happened since the Bitcoin halving because bull runs are not happening with halving at the same time rather it will come lately and now this is the sign for us to be patient and sooner we will gonna see another ATH after this.

Panic can appear quickly with a fud on the market and people will response immediately with panic sell.

It's difference on how greed will appear in the market because it takes more time to warm up, to spread news for people to read, hear, watch and slowly digest it with a long time. The warm up time is very long like months and people need time to do their research, go from doubt to a little bit interested in but still hesitate to invest. Finally they decide to invest or just spend money and very shortly after that, we will see FOMO wave on the market.

FOMO does not last too long but it will last longer than panic time. People will have more time like days, weeks to take profit than time to sell, cut loss or close their position to avoid margin calls, liquidations.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

Quote from: promise444c5 on May 23, 2024, 04:39:45 AM

We might still experience a dip but the previous trend was actually broken since May 15 and i think the major supply point have been reached again let's see what it brings this time....
Keep holding and DCA your way into profits there'll sure be a nice ROI for you

This is what we expected after the halving event because after it mostly we gonna experience a rise in the price of bitcoins which creates a new ATH based on its past history. right now we are seeing it's happening again that's why everyone was recommended to hold when they saw that nothing has happened since the Bitcoin halving because bull runs are not happening with halving at the same time rather it will come lately and now this is the sign for us to be patient and sooner we will gonna see another ATH after this.

Supianto

newbie

Activity: 85

Merit: 0

Well, that's kinda obvious, supply is getting lower, and there is less and less BTC on exchanges. And I'm a small part of that too, been taking BTC from exchanges to OWNR wallet.

promise444c5

sr. member

Activity: 476

Merit: 299

Learning never stops!

We might still experience a dip but the previous trend was actually broken since May 15 and i think the major supply point have been reached again let's see what it brings this time....
Keep holding and DCA your way into profits there'll sure be a nice ROI for you

sv2022

newbie

Activity: 20

Merit: 1

Yep, I am confident that this will come too. Grin

Agbamoni

sr. member

Activity: 532

Merit: 420

Fine by Time

Many individuals are investing more into Bitcoin through the Bitcoin ETFs and it is not a surprise because Bitcoin rose above 70k in the past few days and had shown that the green candle is back which we may see more of that in the coming weeks. Whats shocking or surprising is that who would these new investors and old investors choose to buy now when the market has already risen above 70k. I was expecting this market flow during the little dip that Bitcoin did. Perhaps during the dip many were looking for sellers to sell but everybody held to their coins and it green to choose to sell to the hungry buyers.

Luzin

hero member

Activity: 1400

Merit: 770

Quote from: OcTradism on May 22, 2024, 10:29:18 PM

Keep up your DCA, if you have money to DCA more bitcoin and keep up your Bitcoin hodling, do it patiently with time, in coming months, you will be rewarded very good profit.

This is an interesting accumulation, I hope it's not a fake signal. Because some moments I see there is a fake phase that starts a new ATH. But I am indeed very optimistic that Bitcoin has a better value for the post halving period. This is because 2 times I have passed that period.

Hopefully there are no bad fundamentals such as the decision to raise interest rates by the Fed due to inflation. Because in some periods an interest rate hike can always undermine the acceleration of Bitcoin's price increase. Meanwhile political issues and decisions by the SEC I think can be a good and bad fundamental for this bull period. As I read June 11-12, the Fed will make a decision on the next interest rate policy

DCA is the best option, I think those who have more money power is good strategi. Because they have oportunity to excecute in much moment. It doesn't apply much to me due to money limitations. I just keep trying not to sell BTC before I can see the realistic targets I have planned. Hopefully, the Great Bull will come soon and we can make good use of that moment.

Source: https://www.forbes.com/advisor/investing/cryptocurrency/bitcoin-price-prediction-2024/

AVE5

full member

Activity: 350

Merit: 128

Quote from: OcTradism on May 22, 2024, 10:29:18 PM

Keep up your DCA, if you have money to DCA more bitcoin and keep up your Bitcoin hodling, do it patiently with time, in coming months, you will be rewarded very good profit.

While I don't have to believe that investors who're not under financial pressures would sell their bitcoins, the patient dogs to eat the fattest bones would always hold without selling even at a common attractive green lines and while we don't need to be around a circle of minimum profits, buying and accumulating more is way forward of maximizing your goals.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: https://x.com/woonomic/status/1793207316281782637

While everyone was freaking out that #Bitcoin price was not rising the last 2 months, available BTC was quietly being scooped up, and importantly without paper BTC printed in its place.

Last time I'll say it... It's only a matter of time before BTC squeezes past all-time-highs.

Glassnode Insights Week 21, 2024 report, A macro reset.

Quote

Summary and Conclusions

Following an intense period of mature investor distribution into the $73K ATH, sell-side pressure has markedly declined. This has led to a reduction in headwinds and overhead resistance, with even only modest demand able to stimulate positive price action.

Alongside this, volatility continues to compress across longer timeframes, whilst a dense cluster of supply has formed below our current spot price, potentially providing a robust foundation to build upon.

Money flow from Bitcoin Spot ETFs starts to be green again after some weeks of outflow, red.
Bitcoin network flow

Keep up your DCA, if you have money to DCA more bitcoin and keep up your Bitcoin hodling, do it patiently with time, in coming months, you will be rewarded very good profit.

Topic: Bitcoin supply shock will come, price will make new ATH - page 2. (Read 269 times)