Explanation
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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 1176. (Read 26610487 times)
January 22, 2024, 02:01:15 PM
January 22, 2024, 01:13:21 PM
I think the end of those sales is very far away considering that the Grayscale has accumulated a huge amount of BTC over the years and now it's time for them to profit. Apparently, only a small number of people understood that the approval of BTC ETFs will not have a positive but the exact opposite effect on the price considering the conversion that happened when it comes to Grayscale.
Looking at the bigger picture, nothing bad is happening - everyone who thinks the price is too high will have the opportunity to buy cheaper, and on the other hand, the more Grayscale sells, the better for the future. Such a concentration of BTC in the possession of only one company is always nothing but a big risk.
Looking at the bigger picture, nothing bad is happening - everyone who thinks the price is too high will have the opportunity to buy cheaper, and on the other hand, the more Grayscale sells, the better for the future. Such a concentration of BTC in the possession of only one company is always nothing but a big risk.
There is sell off of around 2 billions dollars worth of the Grayscale Bitcoin Trust (GBTC) after its conversion into ETF. Majority of this chunk coming from FTX, who sold all his 22 million shares (around 1 Billion USD) of Grayscale's ETF [1].
Such news defiantly have an impact on Bitcoin price for short duration but not in the long run. We have a dip day before yesterday and today also Bitcoin price is a bit down. Let these news of ETF's, sell-off go away and we will resume our normal journey of Bitcoin. Things will get more clear in coming 10 to 15 days.
[1] https://www.coindesk.com/business/2024/01/22/ftx-sold-about-1b-of-grayscales-bitcoin-etf-explaining-much-of-outflow-sources/
January 22, 2024, 01:13:14 PM
Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
Investors are migrating to other ETF with lower fee and I think Grayscale has to sell their holdings to meet up.https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
If nothing is done about their fee
Then more investors would bail out leading to more sell out.
I doubt changes would be made since the CEO believes 1.5% is right and others wouldn't survive with their low fee.
Disadvantage of such power in the hands of a single firm.
January 22, 2024, 01:01:19 PM
January 22, 2024, 12:01:16 PM
January 22, 2024, 11:21:46 AM
Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
I think the end of those sales is very far away considering that the Grayscale has accumulated a huge amount of BTC over the years and now it's time for them to profit. Apparently, only a small number of people understood that the approval of BTC ETFs will not have a positive but the exact opposite effect on the price considering the conversion that happened when it comes to Grayscale.
Looking at the bigger picture, nothing bad is happening - everyone who thinks the price is too high will have the opportunity to buy cheaper, and on the other hand, the more Grayscale sells, the better for the future. Such a concentration of BTC in the possession of only one company is always nothing but a big risk.
January 22, 2024, 11:21:05 AM
Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
Yea....so what if others pick it up and more.
This trade is too simplistic to be true (on balance).
I don't give a hoot how much they sell as long as they match the underlying.
January 22, 2024, 11:19:25 AM
Greyscale will sell much more.
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
Greyscale sells, others buy that much AND a bit more...so who cares if they sell or not?
Remain whatever you are...maybe don't come back and stay bearish?
January 22, 2024, 11:18:12 AM
for 2024 I tripled my dca amounts, and i did a little bit of guessing;
- I think that for this year my avg cost price will be about 45k$usd
- 2025 ATH will be about 140k$usd and with the next correction cycle the ATL will be 49k - 56k$usd range
My thought process is that I'm accumulating now in 2024 at the probably the next ATL range in 2026/7.
Im not overly concerned about avg cost price, and that was my biggest learning from 2023. I ran the numbers and I would prefer to have more btc and higher avg cost price, than less btc and a lower cost price.
I'm quite liking the resiliency of the btc market in light of all this etf stuff, i'm starting to think that this might disrupt the 4 yr cycle though in the future. I would imagine too that the skittishness of wall street may also cause deeper dips too, as much as people are bullish on new money entering the market, the money leaving the market could also increase. Is it about to get wilder in the wild wild west?
- I think that for this year my avg cost price will be about 45k$usd
- 2025 ATH will be about 140k$usd and with the next correction cycle the ATL will be 49k - 56k$usd range
My thought process is that I'm accumulating now in 2024 at the probably the next ATL range in 2026/7.
Im not overly concerned about avg cost price, and that was my biggest learning from 2023. I ran the numbers and I would prefer to have more btc and higher avg cost price, than less btc and a lower cost price.
I'm quite liking the resiliency of the btc market in light of all this etf stuff, i'm starting to think that this might disrupt the 4 yr cycle though in the future. I would imagine too that the skittishness of wall street may also cause deeper dips too, as much as people are bullish on new money entering the market, the money leaving the market could also increase. Is it about to get wilder in the wild wild west?
January 22, 2024, 11:11:17 AM
Greyscale will sell much more.
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
looks like 39k is on the line.
maybe you are right.
My ladder down is setup may be cheap corn.
Am I the only one excited about bull run pullbacks? Before the halving... after testing almost 50k... after ETF approvals...
I've been waiting for this. Have more cash coming in later this month so perfect timing for me. Steady weekly buys wins again.
January 22, 2024, 11:03:24 AM
January 22, 2024, 10:41:23 AM
Greyscale will sell much more.
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
looks like 39k is on the line.
maybe you are right.
My ladder down is setup may be cheap corn.
January 22, 2024, 10:17:27 AM
Greyscale will sell much more.
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
This is just the start of a soul crushing multi-month pre-halving correction.
Consolidation during summer.
It will go up again q4 with a possible ATH.
Real fun starts in 2025, until that happens i will remain extremely bearish.
Sorry..
January 22, 2024, 10:01:18 AM
January 22, 2024, 09:41:11 AM
Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
January 22, 2024, 09:30:44 AM
♦️ Correction before halving (maybe to $30k-$35k)
Maybe such pre-halving correction has already occurred. Take 2016 as an example. The Halving was in September and there was no big correction before or after, the price was more or less flat.
The only dip was due to a large bitfinex hack and it was only around 16%. We've just experienced something similar.
Actions that raise doubts, it is something that I have seen quite common lately, speculation, comments, that simply cause impacts, sometimes not so noticeable but that still affects the values of bitcoin... the approaching Halving is creating ambitious people who seek obtain more and take advantage of it...for this reason it cannot yet be deduced whether as such bitcoin will no longer have falls and will begin its total rise. As far as I'm concerned, corrections can still be generated.
Quote
Actions that cause doubt, it is something that I have seen quite common lately, speculation, comments, that simply cause impacts, sometimes not so noticeable but that still affects the values of bitcoin
I comment on this for the simple fact that I have noticed it... and this news that I leave here may reveal people's double intention:
source: https://cointelegraph.com/news/jpmorgan-ceo-jamie-dimon-satoshi-nakamoto-erase-bitcoin-community-reddit-react
January 22, 2024, 09:01:18 AM
January 22, 2024, 08:01:33 AM
damn bro
There's alot of emotions in this two words. question to wo
chartbuddy passes 50k posts this year
chartbuddy passes 50k posts this year
chartbuddy post $350k in the future this year, I won't be surprised.
btc passes $50k price this year
Sure $300k passed this year.
who does it first?
investor came to buy Bitcoin and HODLE.
Investors have already started pouring in
Doing DCA at different interval.
More I believe are yet to join in or have but keeping their holdings scattered (secret).
850% increase in Bitcoin this year seems too optimistic to me.
Except Those buying are really ready to hold all or most of their Bitcoins.
Many people don't really know the benefit of holding to the community or why the community welcome huge investors that are ready to Hold large quantities like Micro strategy.
Holding reduces the number of coin in supply
Which in turn reduces supply and enables Demand exceed supply
Then boom, increase the price.
The awareness of halving signifying a bull run by investors is a reason I would entertain this but,
I prefer been shocked positively than been dissapointed
Reason I don't always set the target too high.
Let Bitcoin shock me with it's price positively .
January 22, 2024, 08:01:15 AM
January 22, 2024, 07:01:19 AM
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