BTCUSDT20240913P61000
Bitcoin / Tether USD Sep 13 2024 61000.00 Put
crypto

Interesting spot here. BTC has now tested the \~$59k/$60k area three times and bounced each time, so on the weekly it can be read as a potential triple bottom.
But the structure is not cleanly bullish yet. The bounces are getting smaller, which also gives it the shape of a descending triangle. What makes it more relevant is the confluence: the upper resistance lines up roughly with the 200DMA, while the lower support is around the 200WMA.
So this looks less like a random range and more like a decision zone between medium-term trend resistance and long-term cycle support.
For me, the key is the weekly close. If this week closes back above the 200WMA, the “bottoming / accumulation” case stays alive. If it closes below, the repeated tests of support start looking more like weakening demand before a breakdown.
Not a confirmed bottom yet, but definitely an important level to watch.

https://preview.redd.it/fdztccrfvd9h1.png?width=1484&format=png&auto=webp&s=8de35c3bab0f40a4a6c6e4027e75ce9c45d9fb39
Hey everyone, I’ve been looking at the BTC/USD weekly chart, and I wanted to share my long-term technical analysis with you all. Looking at the macro structure from 2020 until now, Bitcoin has been respecting a major multi-year ascending trendline. If we apply the Fibonacci retracement tool to the entire impulse wave, the current price action around $61k seems to be breaking down from the local channel. According to my chart, if the bearish momentum continues, here is the path I'm anticipating: 1. \*\*The $49k Support (0.705 Fib):\*\* We have a minor horizontal support here, but it might not be enough to hold the macro trend shift. 2. \*\*The Ultimate Bottom ($35,658 - 0.79 Fib):\*\* This is where it gets interesting. The 0.79 Fibonacci level perfectly aligns with our long-term macro trendline around late 2026 / early 2027. 3. \*\*The Macro Rebound:\*\* If this trendline holds, this exact macro confluence ($35k) will be the ultimate institutional accumulation zone, triggering a massive wave towards new all-time highs by 2028-2029. I know calling for a $35k BTC might sound extremely bearish to some right now, but historically, Bitcoin loves washing out over-leveraged traders and hitting deep Fib levels before a true macro expansion. What do you guys think? Is a drop to $35k in the cards, or will institutional ETF inflows prevent us from ever dipping this low again? Let's discuss!

>If you bought BTC in 2021 you're now at breakeven😅
If you bought BTC exactly 5 years ago, on June 25th 2021, it was priced at $34,000. The rate today is $61,000.
I would hardly call that a "breakeven".

According to the ATH progression that was not gonna haappen. BTC will reach 180k in 2028.

I honestly don’t understand how BTC is meant to keep itself running without centralisation as the amount of new BTC being created tends to zero. There’s no defi so how do you incentivise validators on the network?

I remember when we used to get 18% Bitcoin moves in a day
Now we get to watch trillion dollar tradfi stocks do the same, while BTC at best does a minus 7% day when tradfi sneezes

You mean like Blockstream which took investors cash from AXA and Epstein?
What's he doing lately? I always him to be one of the more sane BTC Maxis but like any other was never man enough to say it out loud that bCashers were right.

I've found it's easier to automate a fixed BTC buy and forget about it than to track every coffee or snack I skip. The I won't buy this, I'll buy Bitcoin instead mindset can be surprisingly effective, though, because it makes you think twice about random purchases. the only trap is becoming obsessed with optimizing every little expense. Sometimes the coffee is worth the coffee.

"10 seconds of global BTC mining rewards will 100 years later equal more than 10.000 days worth of total mining rewards"
Right now that amount is 0.052 BTC
This is the mathematical promise layed out in the white paper protocol by Satoshi Nakamoto.
This is the only way new bitcoin enters the market (Transfer fees are paid with already mined BTC)
Promises can be broken, of course. Only time will tell.
How will silver or goldmining production evolve in comparison to BTC mining releases?

Lawyer here (UK): 
Can confirm the number of “crypto lawyers” who have actually bothered to do self-custody and learn about BTC is low.
That said: they don’t need to learn anything major. Basic concepts of “who has access, how do they get it, how can the executor take control when the court gives the grant of probate?” are all they need.
Strongly suggest not bothering with dead man’s switches. They rarely work, add a vulnerability to be abused and there have been many estates screwed over because of legal battles afterwards. As other have said: tech problems and legal problems are different, you need to solve for both.
Easiest route for a will (lowest effort, OK-ish security): “I leave all of my BTC to [x], the VeraCrypt container containing the seed phrase is in [y] and the password for that container is in [z].” Alternatively: “… the seed phrase of which is divided into [x] parts on metal plates, one of each being stored at [safe deposit y] and [safe deposit z].”
The multiple key shard holders is OK too, but if it’s also a wallet you want to draw from when alive you’re going to be better off having a low quorum and sharding the estate’s keys rather than adding more keys while keeping quorum low, because of the risk of the fiduciary losing a whole key. Slight issue is that you need an executor or fiduciary who knows how to recombine the shards.
Trusts work, but you need a custodian. Very few fiduciaries will accept custody of their keys and they need to exercise control to have an effective trust. Custodians charge a percentage for assets under custody. That said, they’re much easier for your estate to deal with.
You could ditch estate planning altogether and hold in multisig. Risk is that all your family turn against you as a whole and legally you would jointly own the BTC. 

That sub is fucking ridiculous. I got banned for making a joke that the heads of BTC were building up the pyramid scheme. The mods are fucking idiots.

If you just look at the price, BTC maxis have been right with their thesis for about 95% of the time since crypto exists. There have only been very brief periods (alt seasons) where other coins have outperformed Bitcoin on a broader scale temporarily.
I am not saying all other coins are bullshit per se (99% of them are though), but the few that are actually somewhat useful are not in the same category as Bitcoin. Bitcoin is Bitcoin, the rest is (mostly crowd funded) fintech.

A 5 percent BTC move is already enough drama without turning it into a full liquidation event

Exactly. Money is meant to facilitate trade and to be invested. Small, predictable inflation encourages that behavior. It’s not beneficial for people to hoard money hoping that it will increase in value, which is exactly what people do with BTC. It makes no sense as a currency

BTC to 250k in 2021. Oh wait. 

I don't see how telling someone where your pile of gold is is any more risky than telling them when your seed phrase is. Also assuming you bought your BTC from an exchange (i.e. 100mm dollars worth) they will have a record and the transfer will be on a very publlic ledger.

Except fiat currency is used to buy goods and services so if 1BTC = $500,000 then you can trade it for 500,000 $1 goods (give or take with taxes) and if 1BTC = )0.01 you can buy 0 of those goods. It doesn’t matter what those goods are, because the value of the dollar is inherently linked to every single other asset and job - not that it stays the same but by relative weighing against the dollar.
Bitcoin is specifically a monetary system. Its actual value changes with its price for all purposes. If bitcoin were to never increase in dollar value and sat at $0.01 per BTC people wouldn’t want it and wouldn’t pay for BTC beyond that $0.01 since that is tautological. 

"Holding BTC back"
Explain how and none of that handwaving bullshit please. I am absolutely no fan of Saylor with all the financial shenanigans, but holding BTC is not one of said shenanigans.

I went heavy when no one knew what crypto was, I HAD to buy BTC to buy ETH and others. That’s how it worked. Lucky for me when ETH launched, I’d just been burned by MtGox. So was forced to join a bunch of new exchanges and unsurprisingly became a true believer in cold storage. My point was if in doubt zoom out. My average buy price accross ETH and BTC are laughably low so I don’t have any interest in day to day, year to year price swings. I thought they would both go up over time. BTC has ETH hasn’t. I called it wrong, but made out like a bandit anyway. The reality is, no one can predict markets. (That’s why all the billionaires manipulate the market and agreed their plans on pedo island). ETH and BTC are pretty much blue chip equivalent and by definition that means boring/stable ish/long long term hold.

Have you ever had a lecture on economics? It is one of the basic rules for a society to prosper that inflation is needed. Or the other way around, deflation is the nightmare of a country. Look at Japan for the last decade.
Or more practical: what do you think where the money comes from, if you or a company takes a loan to renovate the house or build a production hall? The commercial bank creates it, out of nothing. With Bitcoin: not possible, hence no loan, hence no growth, hence no wealth creation. An economy running on BTC would be doomed. Stuck in constant scarcity of money, going nowhere but managing the status quo.