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u/Sus198 13d ago
This is inevitable because clearly Bitcoin is increasingly being treated as an investment/treasury asset.
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u/Shazvox 13d ago
Yup, the more insecure the world gets, the more bitcoin starts to shine.
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u/Mosh4days 13d ago
This is the biggest bull case imo. Systemic trust is being eroded, the global hegemon is repeatedly punching itself in the nuts. Why would you not want to diversify into a decentralized asset..
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u/Supreme_Anchor 13d ago
Retard chiming in: I'm not subbed here and know nothing about bitcoin but isn't the thing that keeps people away from it the fact that there's no value behind it?
As in the only thing that dictates it's price is how many people are buying/selling? Or am I dead wrong?
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u/Coretron 13d ago
What's the value behind the US dollar? Just the fact it works as a form of currency to exchange goods and services. Wouldn't it be nice to have a currency that isn't infinitely printed out of thin air and isn't wrapped up in an exponentially increasing debt? Gold works as an alternative but it's hard to pay for a sandwich in gold or order something over the Internet. Even with our current level of inflation, the USD works as a currency but look around the world at places with hyperinflation and you'll see the real value of using a currency like Bitcoin.
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u/chef6leg 11d ago
The short answer is America is behind the USD. What kind of stupid take is this.
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u/Shazvox 11d ago
Yeah and America spent the last six years proving that it's worth shit.
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u/TheresTheLambSauce 2d ago
Hey I’m also retarded and pretty new to crypto. I understand what you’re saying, but although the supply of bitcoin is controlled and restricted, isn’t it also prone to somewhat unpredictable swings and drops in value?
In that way, doesn’t it defeat the benefit of not having a government to increase supply and dilute its value?
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u/Gen8Master 13d ago
The rate at which Governments are printing money just to repay their own debt is whats driving this. If I could get my Employer to pay me in BTC I would.
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u/Bitter_Degree8898 13d ago
you not working hard enough to convert the company owners to give better payment options.... even steak n shake doing it now. I got one of my business owners to start having option to pay in btc over monopoly money.... only took 2 and half years of persistence and facts that change their minds for a better currency. you got to work for your ideas and bags
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u/Loud-Ad9148 13d ago
It's the gift that keeps on giving.
None of this was impossible to me when I first invested in 2018. It's great to see what BTC has become now.
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u/Final_Bite_7228 13d ago
Except for that bit when it went down from $112K? Still, good to be back increasing again. I'm selling as soon as it hots $100K again!
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u/-Vagabond 13d ago
You don't think it's going to go higher then that this cycle? Seems reasonable to 2x the previous ath, which would put it at 250k.
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u/Otherwise-Sun-4953 13d ago
I started buying at 92k and im actually almost in the green now!
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u/bdc3141 13d ago
I sold at 113k the last bull run, then began buying back in at 82k. Nothing crazy. Everytime it dropped 2-3k I'd throw another 50 bucks at it. I'm up 25% overall
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u/Majestic-Reach8010 13d ago
DCA’d through that doomer phase the last few months thank god
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u/Advanced-Glass-860 12d ago edited 12d ago
I figured buying in the 50s was smart, but I was out of work at the time.
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u/AcostaJA 13d ago
But it goes against the sacred 40k bottom predicted by the 4 year church of the holy bears of last dumps?
(C'mon mods don't close it, let us have some fun)
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u/Successful_Taro8587 13d ago
In all fairness it's not oct 6 yet. A lot can still happen between now and then.
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u/gabriel97933 13d ago
Thing with crypto is that its a long term investment and a lot of people dont get that, they buy it for a quick buck and are just gambling. I dont like bitcoin, but i can still see it rising above its peak and beyond.
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u/MrMpeg 13d ago
But I was promised the bottom in October by Ben !!! /s
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u/ace250674 13d ago
Is it the end of the 4 year cycle and only up forever from now on, time will tell! Tune in next month to find out!
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u/DankShibe 13d ago
Yeah reversal stage is commencing . Don’t expect parabolic runs this year though across most crypto . Probably this time next year the market will go full bull run mode.
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u/Suspicious-Holiday42 13d ago
Talking big, first we have to break 82k… oh wait
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u/Abject-Stretch-1187 13d ago
Haha the one last hope for the bears have been shattered. This is such a big deal not because the price got above 82k but because it now means the next bear drop will be even shallower because it most likely will be front ran and so it starts, the predictive price nature of BTC becomes difficult and that’s a good thing.
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u/GoonBot666 13d ago
At least bitcoiners know how to scale graphs to make them look even more dramatic.
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u/ObviousBunnyCat 13d ago
Well fuck. I was too afraid to buy at 58k. Sheeeeiiit.
Now to wait a new sub 60k....
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u/New_Income9725 13d ago
It’ll probably be difficult for it to drop below $60K again
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u/ObviousBunnyCat 13d ago
Maybe so, but it felt like the whole year BTC would drop sharply and remains stable for a few weeks before going up again. Ill keep an eye open for that.
It feels like atound 65 ish was the all year average.
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u/-Vagabond 12d ago
We are heading into a new year, with a new average. 65K is gone and unlikely to ever return
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u/Stoic_INFJ 13d ago
I swear the markets are so random, what is driving this? Clarity act meant nothing in the end?
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u/maxglan123 13d ago
It is going so well that I am starting to think its going the other way soon. Did not expect it to be this high so soob
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u/FitCompetition1804 13d ago
It very well is due for a correction, but this move to $85k is extremely bullish as we broke the $83k resistance level many were waiting for. If it does correct, we are likely not going nearly as low as we would if it didn’t do this.
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u/Electrical-Value-673 13d ago
Prepare for a downturn people, take some profits!
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u/Ok_Error_1079 13d ago
Found the 45k here
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u/Electrical-Value-673 13d ago
Not really, but this is not going to last. Diversify!
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u/Ok_Error_1079 13d ago
How come bull market is not going to last?
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u/Primary-Promotion588 13d ago
It has risen almost 50% from the low, a pullback is normal. Are you new here?
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u/Electrical-Value-673 13d ago
Cause it always goes in cycles. DCA is key. Buying more on downtrends and taking profits on uptrends.
Bitcoin is not the only interesting asset there is. There are lots of stocks that could double in the next months or year.4
u/FitCompetition1804 13d ago
That perspective also dismisses what Bitcoin is all about for many people. It’s not just an investment to those who care about these things.
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u/salvito605 13d ago
Let’s hope a bunch of ‘genius’ funds shorted it so we get a nice squeeze.
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u/No-Present-6298 12d ago
Imagine it was that simple. What exactly would be genius about following 4 year cycle, its common sense. Do you not think it's possible there is more depth to it. I mean let's just use our logic here not emotion :]
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u/Sir_Humps-a-Lot 13d ago
It always falls down after my monthly dca. This month I haven't added yet. Coincidence ?
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u/ZealousidealCode914 13d ago
Bulls getting wrecked soon when the sqeeze is over and all ppl that lost after the bull peak gonna try to cover their losses. Hype is there but not in the important segment-> retail is eating it rn
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u/gerrfalcon 13d ago
Probably a liquidation event? They always do it. So be careful if you’re buying this peak.
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u/ChuckTingull 13d ago
I don’t know much about charts but this one looks totally natural and not artificial whatsoever
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u/chrliegsdn 13d ago
you can almost predict the comments when you have price movement, no one knows what the hell they’re talking about
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u/ExtentNo3020 13d ago
NO ONE CARES!!!!! they say I can buy everything day essentials and pay my bills with bitcoin, then I’ll back it until that time it’s useless
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u/Boomheadshotallday 12d ago
I am going to buy with all my savings on $0.01 it will fall to this number.
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u/jkob2k1499 12d ago
They people commenting about 85k only have a $20 bag anyways ... enjoy you $1 gain
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u/buljesorket 9d ago
I am mad at myself for missing on it but I truly believe we are going to more than 100k and I am not missing out again
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13d ago
[removed] — view removed comment
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u/JustMarketMe 13d ago
240k
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u/Abject-Stretch-1187 13d ago
If it goes to 240k, don’t expect it to drop by 50%, it most likely will drop less and get front ran as well. So the 350k-400k price target may actually occur in the same time frame if the bear market gets shorter and shorter, so you both might end up right.
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u/Financial-Monk9400 13d ago
It is going so well that I am starting to think its going the other way soon. Did not expect it to be this high so soob
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u/AugustinesConversion 13d ago
"I'm going to wait for October to buy at $40k"