Bitcoin's are created by mining. The first person to solve a mathematical problem gets 6.25 bitcoins. The difficulty of the problem changes so that it can be solved in approximately every 10 minutes. Close to every 4 years the reward gets cut in half. Some time next year the reward will be cut down to 3.125 bitcoins. Miner's will then make 1/2 what they make now. The price must increase to keep mining profitable.
BlackRock Seems to Be Manipulating the Bitcoin Price in Anticipation of ETF Approval
It wouldn't be hard for a mega institution like BlackRock to capitalize on bitcoin's volatility before formally pursuing a spot ETF product..............
the author's opinion of course. Said it before , once Blackrock got on board ?....liked our chances even moreso
chart is stretched on the daily, weekly , and monthly. But no red flags yet. The main red flags that i look for are : bearish candle (monthly /weeklly) and a divergence of price and stoi/rsi. Get both? serious red flag. GNF either way as price is still miles from its all-time high and that's when i'll re-asses. Playing with GNF monies - grand slam or nothing
not following?
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should add, when btc retraces they are significant . obviously a paper profit and realized profit are different animals. So , gotta have a plan
historically from the monthly chart, here are the retraces;
april 2021- 54%
nov 2021 - 51%
mar 2022- 63%
ouch
if it were to retrace soon? and head to its nearest strong support zone?-- $31,000 ish. 30% haircut
lastly- if you draw a fibro retracement from its all time high to the bottom low ($15700ish , nov 2022) -- its past the 50% mark, this is very good, assuming it can hold. the .618 is at $48, 600ish--huge level . breaks that? i wouldnt want to be a bear
good info, thanks. that's 5 more weekly candles. the chart needs(ideally, for me at least ) to exhale, consolidate. Sharp vertical ascents are not stable- stretch a rubber band too far and it violently backfires. Actually this asset class' chart is exhibit A with retraces of 54, 51, and 63 % , lol. it's current move from 10/16/2023 is +64%. It's current weekly chart if was to close as is? highly suggestive of further price appreciation
another scenario prior to Jan5-10; a test of the .618 fibo level-- rejection, then the catalyst and blasts through it
another scenario prior to Jan5-10; a test of the .618 fibo level-- rejection, then the catalyst and blasts through it
There's always a dump and the road will be rocky but when a bull run starts, I just hold. We are in for a wild ride. The top will be well over $100k. When we get in to the next bear market, then it's time to leave or swing trade.
FWIW, no one has ever lost holding bitcoin and then selling 4 years later. The big players such as MicroStrategy don't try to time the market. They like to DCA.
can never go broke taking a profit. The game is and will always be-buy low, sell higher (unless hangin on to yielding paying assets )
with that said - targets are different,as are personalities.
Our wiring is such that the pain of a loss is greater than the joy of a gain . Studies show this .
Food for thought: it's not an all or none. If your gain is sizable and the thought of a haircut doesn't sit well ? Can take some profit .
You won
Keep the remainder and add if pulls back (if ya choose). technically speaking : If it breaks the .618 fibro there is a high probability of completion of full retracememt - that is to the all-time highs. if it breaks the all time highs ? that's where the fun begins as its in no man's land- free to soar like a bird.As of now, as prevously noted there r no red flags on the chart (weekly/monthly)...yet
gl
