I know about half of you think BTC is some scam or something, but it isn't, and it's well on its way to breaking a new all time high. It will get very close to, maybe even surpass $100K per in the next few months.
To those who said the ETF will cause BTC to CRASH... where you at now?????????????
I am just posting this to let people know that I wasn't an idiot, my predictions that you've all roasted me for in the past, is coming true.
To those who still are on the "but muh gold and silver" bus... ask yourself this...
If we are truly going to have a new finance system that takes over the current fiat system... do you really think that new system will use gold? Or something that is actually feasible and transactable globally?
Lets for a minute pretend the power and internet doesn't shut off for a very long period of time (it won't, not globally)... and it is just a normal fiat system crash that happens (much more likely)... wouldn't it suck to be sitting there on your pile of gold, unable to easily transfer it, unable to liquidate it fast, and no actual stores accepting it as payment (because all stores will switch to BTC or something else... not tangible assets like GOLD or Silver... that ONLY happens in a sever SHTF scenario, world ending type scenario). That would suck, wouldn't it?
I say again Bitcoin is the greatest threat to the current fiat financial system, the fed, and government control the world has EVER SEEN. If you actually think it isn't part of the plan, then you are living with a phat blindfold over your face.
I'm not saying to put all your eggs into BTC But I am saying that it is a very good idea to obtain at least SOME btc. If the fiat systems truly implode and disappear... bitcoin will be the only usable currency left. And it will be extremely valuable to the point where you and your family likely won't have to suffer nearly as much as those who thought gold and silver was the way and avoided btc like it is some sort of plague.
It isn't being pumped for any other reason than the same reason it pumps every few years.
The halving.
In 50~ days, the amount of BTC miners will earn for their proof of work mining will be cut in half. Thus doubling the "cost" to obtain new BTC, thus creating scarcity and higher supply & demand, and a higher price.
This is a very predictable, calculable, and reliable pumping for BTC. It is the main source of every big BTC pump in history.
Looks like they use that as a reason to pump and dump,in any event buy low and sell high. Don't buy now, wait for the dump.
If it replaced the doller, I will be paid in all the bit coin I need.....
Nah, the market does react to the fact the halving is happening and that does cause a pump and dump type of market, but overall the price still rises significantly.
This is how btc has gone from $0.07 -> >$50K in 15 years.
It's the halvings.
When BTC first started, the block reward to miners was 50 BTC, today it is only 6.25 BTC, and in 50~ days it becomes 3.125 BTC.
Shortly before the halving, every time, miners are always barely profitable. The halving makes mining not profitable. Miners are forced to literally refuse to sell their BTC for anything less than a higher value to break even or make some profit on their electrical cost.
The miners drive the market and control it because the miners are the sole providers for new liquid bitcoin. Any NEW bitcoins that are put into the market, were sold into the market by a MINER who paid electricity to obtain that bitcoin.
So while yes there is a bit of fomo during halvings that causes a bit of a pump and dump... It is still going to result even after the dump, with a higher value BTC.
It is so calculable that we already know BTC will hit $85-87K this halving, any higher is additional gains from other factors (like etf's finally having to buy the btc to fill their orderbooks). I suspect we will maybe touch $100K this season.
And the next halving, we will see $300K+ BTC. Over just 4 years. And there is basically nothing that stops that from happening. The only way this doesn't happen is if the US Dollar becomes HYPER valuable and deflates significantly (not going to happen!).
BTC will break $1Million per coin in 2031.