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Bitcoin price gains momentum after LSE plans to open applications for BTC and ETH ETNs in Q2 2024


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2024 Mar 11, 8:13pm   895 views  30 comments

by patrader   ➕follow (0)   💰tip   ignore  

Bitcoin price has recorded a new ATH on Binance at $72,661 with technical indicators hinting at incoming gains.

Recent reports by the London Stock Exchange propelled BTC to new peaks on Monday.

MicroStrategy has grown its BTC bucket with proceeds from convertible notes and excess cash.

Bitcoin real-time price trend:
https://www.mitrade.com/insights/markets/crypto/BTCUSD

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2   AD   2024 Mar 11, 9:55pm  

I read that Dogecoin is correlated to Bitcoin.

Is it that the whales and retail / small investors are diversifying and not going all in with Bitcoin ?

Will the whales start rotating gains from Bitcoin to other assets like Amazon and Google ?

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3   Onvacation   2024 Mar 12, 7:47am  

AD says

Will the whales start rotating gains from Bitcoin to other assets like Amazon and Google ?

Bitcoin is not an asset. It's more like a lotto ticket.
4   ElYorsh   2024 Mar 12, 8:00am  

Onvacation says

AD says


Will the whales start rotating gains from Bitcoin to other assets like Amazon and Google ?

Bitcoin is not an asset. It's more like a lotto ticket.

I have been hearing this since it started years ago. But this non asset has made rich people richer. The more the US Dollar loses it's reserve status, the more crypto surges.
5   Onvacation   2024 Mar 12, 8:10am  

ElYorsh says

this non asset has made rich people richer.

So has the lottery.

Is a lotto ticket an asset?
6   Maga_Chaos_Monkey   2024 Mar 12, 9:37am  

AD says

Is it that the whales and retail / small investors are diversifying and not going all in with Bitcoin ?


No idea I mostly just buy bitcorn (and dabble in some alt coins as a gamble) but what some pals in the bay area do are invest in alt coins instead because they say when bitcorn runs they outperform.
7   Maga_Chaos_Monkey   2024 Mar 12, 9:39am  

AD says

I read that Dogecoin is correlated to Bitcoin.


BTW, I think you've got balls buying Dogecoin. I hope you make out like a bandit.
8   AD   2024 Mar 20, 11:16pm  

I recently bought 500 shares of Fidelity Bitcoin ETF at around $58 when Bitcoin was around $63,000. How will Bitcoin do as well ? I've seen a chart it will reach $1 million within 4 years, so I was hoping the 500 shares would go to around $430,000 (that is ($1,000,000/$63,000) x (500 shares x $58) )

just_passing_through says

BTW, I think you've got balls buying Dogecoin. I hope you make out like a bandit.


Thank you Just_Passing_Through, as I bought $500 of Dogecoin around 3 cents. I cashed out $500 after it went up a lot and I have around 8330 Dogecoin left. I plan to sell all the Dogecoin either if it his around $100 or $0.01.

I recently bought 500 shares of Fidelity Bitcoin ETF at around $58 when Bitcoin was around $63,000. How will Bitcoin do as well ?

I've seen a chart it will reach $1 million within 4 years, so I was hoping the 500 shares would go to around $430,000 (that is ($1,000,000/$63,000) x (500 shares x $58) )

The only concern is what would be actual inflation from now and when Bitcoin reaches $1 million.

It could be like 100% so the $430,000 is only $215,000 in today's dollars.

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9   AD   2024 Mar 23, 10:22pm  

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11   Maga_Chaos_Monkey   2024 Mar 24, 11:57am  

AD says

The only concern is what would be actual inflation from now and when Bitcoin reaches $1 million.

It could be like 100% so the $430,000 is only $215,000 in today's dollars.


I've made some comments (not on here) as to where I think it'll be in 20 years (18 now) to friends and family and yeah, I think it'll be like that. A nominal value vs. a highly inflated dollar.
12   Maga_Chaos_Monkey   2024 Mar 24, 7:28pm  

What I'm wondering, is where that Ripple fraud guy went lol... It's done NOTHING!

No no no, wait, it's gone DOWN!

While virtually every other common alt-coin has risen with bitcorn...

I don't mean the bitcoin covid jabbed guy, this was someone trying to pump ripple on here for a week or so...
13   AD   2024 Mar 24, 10:03pm  

just_passing_through says

I don't mean the bitcoin covid jabbed guy, this was someone trying to pump ripple on here for a week or so...


so he left cause he could not gain any traction here ?

I hope Eman posts again on Patnet, and I encouraged him to write a book such self publish an electronic book on Amazon to cover all of what he said here as far as how he got rich

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14   AD   2024 Mar 25, 11:22am  

Bitcoin at $500,000 by 2025


15   Onvacation   2024 Mar 25, 11:35am  

AD says

Bitcoin at $500,000 by 2025

Why?
16   AD   2024 Mar 25, 5:59pm  

Onvacation says

AD says

Bitcoin at $500,000 by 2025

Why?


Because it is following a pattern that shows it will hit $500,000 by 2025. It has to do with the scarcity of Bitcoin because of the halving of Bitcoin, and also it is an alternative way to store value in a fiat currency system.

But I would not "bet the farm" on it. Put no more than 4% of your total investment assets in Bitcoin.

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17   Maga_Chaos_Monkey   2024 Mar 26, 5:07pm  

AD says


Because it is following a pattern that shows it will hit $500,000 by 2025. It has to do with the scarcity of Bitcoin because of the halving of Bitcoin, and also it is an alternative way to store value in a fiat currency system.


The general pattern in lots of the models is based on user uptake. Like how fast people transitioned from buggies to cars, regular phones to cell phones etc.,.

There are a LOT of uses for it but one I heard of recently Michael Saylor is working on is orange checkmarks. You can send immutable messages over the bitcorn network that are protected with the same power as the coin itself. So the lame crap on docusign will get replaced eventually for example.

If you want to send a digital message that nobody will be able to eff with for the next 100 years that's provably from you that's the way to do it.

Bitcorn is the most heavily protected data on the planet and nothing else comes close. (caveat: so long as we still live in a digital world)
19   AD   2024 Mar 28, 10:38pm  

After Bitcoin reaches the max limit of 21 million, the miners will not receive new Bitcoin as a reward for verifying transactions. They will then get paid based charging fees for Bitcoin transactions. Those buyers and sellers who are willing to pay more for those fees will get more priority from the Bitcoin miners.
21   Onvacation   2024 Mar 29, 7:55am  

AD says

After Bitcoin reaches the max limit of 21 million, the miners will not receive new Bitcoin as a reward for verifying transactions. They will then get paid based charging fees for Bitcoin transactions. Those buyers and sellers who are willing to pay more for those fees will get more priority from the Bitcoin miners.

So people have to pay to use their money? And the more you pay the faster you can use your money? Did I get that right?
22   AD   2024 Mar 29, 9:13am  

Onvacation says

So people have to pay to use their money? And the more you pay the faster you can use your money? Did I get that right?


yes, as that will be the fees as far as trading Bitcoin....there will be transaction fees... so you'll have competition among the Bitcoin miners to attract as many Bitcoin sellers or buyers by lowering their fees that they charge
23   EBGuy   2024 Mar 29, 2:41pm  




From China Banished Cryptocurrencies. Now, ‘Mining’ Is Even Dirtier.
It should be noted that the former coal plant now uses natural gas.
24   DOGEWontAmountToShit   2024 Apr 3, 8:45am  

Been a while since the Bitcoin Fluffers have been triggered here, so...




25   Maga_Chaos_Monkey   2024 Apr 4, 6:35am  

Only triggering for people who still think it's use is as a currency which nobody who understands it does.

Yeah George has been traveling across South America and reporting this but it's more anecdotal than anything and damn look at that 50% cut in the gold price! Some in Central America do use it as a currency via a Chivo Wallet but I've heard rumors people are getting ripped off that use it.

2011 wants their talking points back.
26   Maga_Chaos_Monkey   2024 Apr 4, 6:38am  

AD says

yes, as that will be the fees as far as trading Bitcoin....there will be transaction fees... so you'll have competition among the Bitcoin miners to attract as many Bitcoin sellers or buyers by lowering their fees that they charge


Fees have skyrocketed! Four years ago I could buy $35K worth for about $1.25. I checked what $65K would cost me this week in fees and it was $625. Less and less American exchanges/competition, up goes the price!

It's as if exchanges like coinbase would like investors to start using ETFs or something...
28   Ceffer   2024 Nov 30, 12:46pm  

Repeat from another post:
Entertaining rant from four years ago by McAfee about Bitcoin Tulip Bulb. Doesn't seem predictive up to the present, but I suppose it could blow up anytime. Seems like a lot of frothy fiat value pumped by speculation. When will the musical chairs end?

https://youtu.be/FnKrMKo_WlU?si=9CyxzEnY82cGXzEd
29   mell   2024 Nov 30, 12:50pm  

Surely they will end eventually, but it's a good reminder not to ridicule people's investment choices. For those who bought early there has been plenty of time to get out and many multi millionaires were made on the spot. Bitcoin surely has defied its critics time and time again

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