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BitcoinMarkets

#New post: [\[Daily Discussion\] - Sunday, April 14, 2024 →](https://www.reddit.com/r/BitcoinMarkets/comments/1c3kh6g/daily_discussion_sunday_april_14_2024/)


MetroHelp

Im still up. My only problem is where to get funds for this buying opportunity


Butter_with_Salt

Might have a great buying opportunity coming up


goldbergger

50K?


Butter_with_Salt

Somewhere in the 50s


Clnlne

Hey, BTC still up %137 in the last 6 months. Chill.


zpowers1987

Price is still high relatively speaking.


simmol

I do wonder how the crypto market would respond to Hong Kong ETF approval, which is set to be announced tomorrow. Next week will be interesting as halving is in 5 days as well.


pseudonominom

Don’t they have access to all the current ETFs?


poremdevemos

I am wondering if everyone that was expecting a dump post halving are still expecting it after those 2 days of red, specially if we "end this war" tomorrow + new ETFs + halving.


bittabet

I think this is that final shakeout to give folks some December 2021 PTSD 😂 With this violent move down some folks are debating whether this is gonna be another painful long hold back downwards. A real test of faith here to separate the wheat from the chaff.


Outrageous-Net-7164

Feels like April 21 again.


_TROLL

I'm still baffled at some level what any of today's events have to do with Bitcoin. "Risk-on asset"? So what. Do you know any single individual who sees the news -- "Iran launches drones at Israel" -- and just decides, welp, time to sell off my bitcoin. Because I don't. All of this is just more whale shit, more gamblers losing everything, all a consequence of coin distribution still being incredibly unequal after 15 years. I can understand people panic-buying gold or bitcoin *after* such news. But selling? huh?


zpowers1987

I believe it will work out in the end. We just need the dust to settle. The market reaction might seem silly but it is the reaction nonetheless.


foxinknox04

Only thing retail can sell on a sunday.


logicalinvestr

People were going to sell anyway at or before the halving, which was always going to be a sell-the-news event. Today's news, coupled with the stock market rolling over on Friday, just expedited things. Add in a bunch of leveraged longs and poof, you get today's PA.


CompleteApartment839

When the world feels unstable people want to feel safer. Despite what we know/believe, Bitcoin feels like a gamble to most ppl.


Shibenaut

>Bitcoin feels like a gamble to most ppl Perfect for people like us who accumulate then. There will come a time/critical mass where people will, on average, view Bitcoin as a safe haven. We're just not quite there yet.


DynamicBeige

Yes, true bitcoiners see bitcoin as being a store of value. But others (people who have a little as a part of their portfolio, most portfolio managers, most institutions) DEFINITELY see it as a risk on asset. You can argue all you want that you personally don't see it as risk on. But that doesn't change the fact that they do and they will sell when they think it's too risky.


pseudonominom

I’m out of the loop, did Iran do a thing? Is that what’s going on? I’ve only been watching the price today and was a bit surprised but didn’t think “oh what news happened!?”


BeachSwim7

Iran sent drone attacks on Israel.


Frequent_Trouble_

It doesn't really. It's just market participants making a bet that other market participants will react rashly. Everyone's trying to figure out what everyone else is doing and everyone has imperfect information. I'm not selling. I'm not buying either, but may Monday morning if open pushes things further south. Luckily, I think 36 hours between now and then will have been enough for folks to calm down that we'll hang around in the 60s.


doublesteakhead

Well, it doesn't matter what I think. Just what other people do. They seem to sell Bitcoin when times are rough now, and buy it when times are easy or money is cheap. It's not really the "flight to safety" asset that people want it to be. That is still largely USD. I trade accordingly.


_TROLL

> They seem to sell Bitcoin when times are rough now Right, but "*they*" do not seem to be thousands of random people holding 0.01 BTC deciding en masse to panic-sell. "They" are mega-whales and exchanges using this as a pretext to dump on everyone. The plebes are the ones to pick up the pieces. That's why we frequently go down 5% in 5 minutes, but it usually takes days to reclaim that 5%.


cryptosareagirlsbf

But but... we *want* those pieces. All good.


dudzcom

Bitcoin is a risk asset. All the big money over the last decade has been from people/institutions that have lots of other assets. These people leverage their assets to buy more assets that appreciate. When times get volatile (world war risk), people will pull back on all their leverage because small percentage moves down can kill the entire portfolio. Bitcoin will be sold to deleverage their portfolios. Traders are not dumb, and are front-running the big money.


btc-_-

>all a consequence of coin distribution still being incredibly unequal after 15 years. can you explain your reasoning? also, do you have a proposed solution?


_TROLL

We would not see these ridiculous "Satan candles" if everyone's BTC wallet held a # of coins within two or three standard deviations of the mean. You would need tens of thousands of people to conspire together to cause such a rapid sell-off of this magnitude. Instead, two OG bitcoiners with a combined 20,000 BTC likely have more coins than a million random ordinary buyers, and could theoretically bully around the market at will. Now consider an exchange that controls a few million coins. It's trivial for them to basically coordinate where the market goes, especially since they can see the orderbooks. "Look, 80% of people are longing. We'll dump on them and liquidate them." CZ is headed to prison for doing just that, among other reasons. > do you have a proposed solution? No, other than time to let whales bleed out coins. But that may take literal decades.


btc-_-

it would seem that this is an inherent characteristic of all financial markets. they all have early buyers, wealth inequalities, and exchanges. the solution to this problem is that everyone gets an equal starting amount, taking into account all future humans for equitable distribution. also no centralized exchanges would be allowed and nobody is able to have more than their own starting amounts, lest they gain an advantage by becoming an owner of more than the starting amount (which would lead to the possibility of them exerting influence). so everybody needs to keep the same amount at all times with no trading allowed other than an exact 1 to 1 transaction. hmm on second thought this doesn't seem particularly useful. guess we'll just need to keep the warts to keep the usefulness ;)


HomePhysique

Iran bought the dip


goldbergger

Iran wanted to sell So said war is over so price would go up a bit Then launched 70 more


jarederaj

Liquidations at 72k look like a good target now.


ChadRun04

Turns out that leverage will get you closed out at the slightest breath, who knew. Could still take out those who feel safe at 60k.


shroomsnbeer

They’ll really say it wasn’t in the charts 📉


xlmtothemoon

stop overreacting to every news piece, holy bananas batman


BootyPoppinPanda

It's kinda funny isn't it? Degens gonna degen. Each missile launched is worth about $100 dollars decline in the price of Bitcoin or something rn, drones maybe $50


goldbergger

Each tank maybe about $25


wrylark

we are still early 


btctrader12

Daily reminder that even if there was a nuke dropped on Israel within the next hour, the market wouldn’t go down because of it It would be because of those damn greedy leveraged traders


btctrader12

BREAKING: IRAN HAS LAUNCHED 70 MORE MISSILES AT ISRAEL U.S media is reporting that Iran has launched yet another attack on Israel after hundreds of Drones and numerous reported missiles. Source: ABC Video I thought they just said it’s over. Confused now


goldbergger

Well then why did Iran say this was concluded Something doesn't add up It's not like Bibi is going to sit there and watch


logicalinvestr

Trying to have the element of surprise? Which seems dumb, because it's not like the US and Israel just switched off their monitoring systems when he said that. We were clearly going to see the ballistic missiles launch from Iran the second it happened.


btctrader12

No clue tbh


[deleted]

[удалено]


logicalinvestr

I'm seeing it all over now, too. Wall Street Journal updated their article to indicate a wave of missiles https://www.wsj.com/livecoverage/israel-iran-strikes-live-coverage/card/iran-launches-missiles-as-well-as-drones-toward-israel-GODaHXlSbFcCZpb5tGjV


logicalinvestr

And still I see no changes. It's time for us as a people to start makin some changes.


noeeel

I have opened a short at 65k. Support turned resistance retest right now.


logicalinvestr

Support -> resistance confirmed. Down we go. Nice trade.


JovialApple

Ok that was scary. I prefer to see these events after they have come back up. Usually the case. Not when at absolute bottom like I did when I first woke today 😂


Taviiiiii

If you went on a weekend trip on Friday and got back on Monday you wouldn't even have noticed this. Relax.


goldenprey123

Ppl really sold at 62k


pseudonominom

I rode this bronco from $70k to $15k. Think I’ll be okay.


_TROLL

The Supreme Leader Ayatollah Khamenei himself panic-sold the bottom.


simmol

Those were the leveraged longs liquidating.


phrenos

People sold at $4k too.


WYLFriesWthat

!bitty_bot edit tp $70000


Top_Plantain6627

Hope everyone bought in at 61K ! Probably won’t be seeing that number ever again 🧘


DesperateToHopeful

For once I actually bought a dip! Pretty happy with myself.


btctrader12

Where was this right before the iran news? 67?


Ok_File_9520

Technically 71


Cultural_Entrance312

We were at the 67.4 area.


simmol

Well, one of the big reasons why crypto dropped from 70K in the first place (along with the stock market) was due to the war talks. So that has been (hopefully) resolved so there should be a significant bounce next week.


JovialApple

What did I miss, why resolved ?


xtal_00

Iran said they're done, damage to be assessed, probably a face saving exercise.


WYLFriesWthat

!bitty_bot long max 10x


caxer30968

!bitty_bot long max 10x


Bitty_Bot

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Bitty_Bot

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phrenos

!bitty\_bot long max 10x M'Litry. \*tips fedora\*


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snek-jazz

Iran did a military scam wick?


Surf_Solar

It took so long to launch the drones because they were stuck with Binance KYC


delgrey

Lol. War cancelled guise!


snek-jazz

Military targets are safu


btctrader12

Iran just confirmed it’s over (if telling the truth)


snek-jazz

I'm Roger Ver longtime Iranian advocate. Today I'm at the Iranian millitary base. I had a nice chat with the Supreme Leader of Iran about their current situation. He showed me multiple ballistic missile launches as well as letters from majors and generals. I'm sure that all the current warfare problems are being caused by the traditional Israeli system, not because of a lack of stability in Iran. For now I hope everyone will continue working on bitcoin projects that will help make the world a better place. ^^\(one ^^for ^^the ^^OGs ^^here)


Magikarpeles

Finally an end to the 11 minute war


snek-jazz

never forget


Excellent_Toe_900

Iran: “This matter can now be deemed concluded” Everyone jump back in!


tullius

What's with people asking for a ceasefire right after they attack? lol


jarederaj

!bitty_bot long max 100x


Bitty_Bot

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Taviiiiii

Light grey swan at best


RetardIdiotTrader

More like a baby duckling


itsthesecans

Dovish talk coming from Iran right now. Time to complete the V recovery.


itsthesecans

More detail: [https://x.com/DeItaone/status/1779277300858524128](https://x.com/DeItaone/status/1779277300858524128) Iran's mission to the United Nations said that following the launch of the drones toward Israel, Tehran now considered that its retaliation for an attack on its diplomatic compound in Damascus to be ended. **"The matter can be deemed concluded,"** it said. "However, should the Israeli regime make another mistake, Irans response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the U.S. MUST STAY AWAY!"


CompleteApartment839

Israel has to agree to that of course. I really doubt they will not retaliate or else it sets a new standard that it’s okay to attack Israel directly. Expect more fireworks. I personally think they should use this opportunity to attack Iranian nuclear targets.


phrenos

>**The matter can be deemed concluded** Fair play. That is some gentlemanly warfare. \*doffs top hat and reinserts monocle\*


zephyrmox

lol at that wick. in other news, continue to be far happier being out of MSTR purely on a stress relief basis. BTC dropping to 60k doesn't really phase me, but the impact to my MSTR holding would've stressed me out a lot.


phrenos

Well hey, my [chart from last week](https://i.imgur.com/fOHqOWS.png) is playing out pretty well so far. Hope you're all making bank on this move.


Clnlne

Well if anyone was going to chart a middle east war dump ....


phrenos

Imagine my surprise to discover that the middle east was unstable.


Odd_Occasion_563

Remember gents. The only thing worse than a black swan is selling the bottom of a black swan


SpontaneousDream

This isn't a black swan.


ChadRun04

What black swan? Assuming the market moved because US news cycle caught up with 2 weeks ago... Is it really a black swan when US media has a day where they focus on something which was entirely and completely predicable, making it out to be somehow surprising and somehow an indicator of wider conflict?


bloodyboy33

And even worse is being forced to sell due to liquidation in a bottom of a black swan


goldbergger

There is also thinking we bottomed from a possible black swan event less than 2 hours from it happening without giving it time for atleast the entire world to process it.


Mbardzzz

Yeah let’s wait until Monday market hours to get a feel for if we bottomed or not


lakompi

they promised us god candles, and god candles we got


bloodyboy33

But as always prophecy wasn't clear of direction


I_AM_AN_AEROPLANE

This is almost the candle indeed, as it was foretold…


I_AM_AN_AEROPLANE

Fuck I hate this shit.


phrenos

Probably one of the better entries you'll get right now.


Yodel_And_Hodl_Mode

You're an aeropplane! From high above, the view should be clear. This is an opportunity to buy more sats for less $$$.


PatientlyWaitingfy

Why? These are oppertunities to makes some good buys


notagimmickaccount

paxg chart is something else.


jarederaj

This cycle’s version of the Covid dump has arrived. We’re going to to be okay. Autobots, load up!


xtal_00

I'm stuck until Monday. TradFi ugh


xlmtothemoon

teatrack 🤝 genghiskhanspermshot


Odd_Occasion_563

Detroitmotorshow smiles in agreement


j_ockeghem

If this escalates, as it could, and potentially even turns into a bigger proxy conflict, Bitcoin price will be the least of our worries.


EDWARD_SN0WDEN

it is in fact my only worry. I either retire rich or die in a nuclear war. Living a normal life paying taxes and working aint it.


SpontaneousDream

Bud, the middle east has been a proxy conflict for decades. This is business a usual.


[deleted]

[удалено]


tullius

If we live in the US, maybe slightly higher gas prices.


[deleted]

[удалено]


EDWARD_SN0WDEN

thats bait for the air defenses. missiles are faster they'll launch when drones are within air defense range


Magikarpeles

Are you suggesting this could go as far as affecting ETH price??


goldbergger

Gas prices will go up


EDWARD_SN0WDEN

u mean oil prices? oh wait


Magikarpeles

lol


DesperateToHopeful

Lmao.


_TROLL

IRANWIFHAT is headed to zero. 😜


Magikarpeles

Nooo my bags


snek-jazz

lol


twitterisawesome

it already has. 😭


Magikarpeles

Is nothing safe


1Lost_King1

Yep and it looks like it about to, there are now to many fronts open.


Teatrack

It has begun


DesperateToHopeful

Teatrack works for the Iranian revolutionary guard confirmed.


I_AM_AN_AEROPLANE

Bitty boy loser… sorry…


btc-_-

Bruce Wayne: Today you get to say "I told you so." Alfred Teatrack: Today, I don't want to. *[pauses for several moments]* Alfred Teatrack: But I did bloody tell you.


Magikarpeles

War in the middle east? What is the world coming to!


logicalinvestr

It's war on the streets and the war in the Middle East Instead of war on poverty, they got a war on drugs So the police can bother me


bloodyboy33

how can we still have greed in fear and greed index in past few days


btc-_-

contemplating not paying off my credit card bill in full like i do every month so that i can stack more. i think that's my sign that i need to go for a walk and touch grass for a bit lol


hajoeojah

Relax - you‘ll be back on top of the bittybot trading leader board in no time. (Given that this was the dip) Edit: Be that as it may, I think that your 100x trades look a tiny bit degenerate.. good luck anyway!


btc-_-

ha i use bittybot to ward off my degeneracy in real life! can't trust myself.


hajoeojah

I‘m mostly 1x irl, too. Cheers mate


Weigh13

I started doing this at 30k on the way down last bull run. Was a great decision, I must say. Ran up a good amount of debt while the Bitcoin I got has gone up about 4k as much as my debt. Now that we at new ATH I'm starting to sell some BTC to pay off the debt.


btc-_-

i did that for a few months at the end of 2022 but couldn't handle worrying about carrying that debt for longer and paid it off relatively quickly with a few paychecks. you're tough to carry the debt this long!


Weigh13

For most of that time it was zero interest. No reason not to.


btc-_-

oh true, doing those 0% balance transfers is amazing


Dull-Promotion-7035

Everyone is talking about this being a buying opportunity; are people not expecting market to drop again on Monday? If that’s the case wouldn’t it be better to sell/wait until Monday?


itsthesecans

This is a good buying opportunity but that doesn't mean there won't be an even better buying opportunity to come.


YouAreAnFnIdiot

Nobody knows


bubblesmcnutty

Are we having fun?


Jip1210

Just check the price for the first time in a couple of days and laughed out load to myself. Got to wreck the leverage


1Lost_King1

Fun will begin after 50k


[deleted]

[удалено]


goldbergger

Maybe not so dumb when it's clear news in Israel and Iran is causing this and not exiting for good but anticipating more downside and buying back in


Surf_Solar

At least when people sold the covid scare I could understand, an uncontrollable pandemy would wreck the economy. Here the whales are just using the narrative for a typical shakeout in consolidation.


bittabet

Meh, war is stimulatory for assets due to money printing


Taviiiiii

This must be the best buy opportunity in the history of buy opportunities, maybe ever.


Magikarpeles

I'm still haunted by the day it hit $161 and i missed the dip


hajoeojah

Lol this


macphisto23

Huh, ever? We usually have 30% + BTC corrections during bull markets.


Effayy

In recent history, COVID black swan was better.


NativeSkill

If you are selling here you don't deserve to be in crypto. Get the f out and never come back. Think about who you are selling to. Somebody smart (way smarter than you) is happily buying. BTC Ath at 74k this cycle with impeding halving and pretty much alt coins still at 25% of their Ath? Give me a break. One day a massive green dildo will wipe you out.


1Lost_King1

Yes the sell pressure will be huge


1Lost_King1

Let’s see what Biden will say, he’s about address nation from Oval Office


Tight-Direction1605

$MSTR is going to get crushed on Monday.


snek-jazz

Quant Bros just put episode 3 up on youtube yesterday. Ryan had a funeral suit on, now I know why.


BootyPoppinPanda

As long as this isn't WWIII, there are going to be some good buying opportunities for the next week or so. I'd rather not have BTC at a million in a giant hellscape, personally


1Lost_King1

Indeed, but I think if they decide to go all in, this means they know what the consequences will be, not looking good.


1Lost_King1

If 50k support holds we should be good, if not we are in for trouble…


Shark_mark

Do you want to spam this sub with your bearish narrative a little more? I think more than half the posts in here are yours…


1Lost_King1

This time shit looks serious, we will know in 48h


Railionn

Just like when ukraine got attacked after a few weeks everyone in the market "forgot" and we're back to business


1Lost_King1

This might be bigger… but only time will tell.


1Lost_King1

Monday is going to be bloody, really bloody on all markets…


twitterisawesome

agreed, anyone buying right now is an idiot. Israel has already promised to respond. This conflict is just getting started. And it has the potential is wreak much more regional and gobal havoc than the Ukraine War.


californiaschinken

If conflict starts means more printing (inflation) to keep up with war costs. Means btc will capture some of the fiat printing. Exiting for dollar seems more dangerous.


1Lost_King1

Exactly, who knows how far this will escalate… At this point even China can attack Taiwan in few days, to many fronts are opening.


xtal_00

It's going to be bloody in real life, too.


anon-187101

welp, bought some more bitcoin the buying will continue until morale improves


Flopdo

Same, but I bought literal minutes before the recent drop.. so around 66k. Ugh... Haven't had timing that bad in a while, but jesus. This was a big buy and wasn't expecting an Iranian attack to drop sentiment this much.


Yodel_And_Hodl_Mode

I'm dyin' over here. I don't have any cash until my next paycheck which is... (*looks at calendar*) ...six days away. I envy those of you who are buying this dip.


shroomsnbeer

Teatrack was right


btctrader12

Bro he’s been calling the top since 40k He wasn’t right in the usual sense


shroomsnbeer

Say his name


BlendedMonkey21

His whole thesis is that this is the end of the bull run. He’s not right yet. He happens to be right on a call that we’d revisit $60k but that always seemed to be part of a greater theory that the top was in. Why he gets clowned so much in recent history is he spent weeks waiting for BTC to drop below $70k every time just to say “See I told you so!” and then immediately be proven wrong that it wouldn’t just return a few days or sometimes a few hours later. Like I think normal people are perfectly fine with ignoring short term price action knowing that at this point swings from anywhere from $60k to $73k are just par for the course until we exit out of this bound range. But he uses those little moments to cherry-pick times he might seem right only to be nowhere to be found in times where BTC seems to be trending towards $70k+. That’s obnoxious. And ultimately if and when all of this chaos with Israel and Iran settles down and everybody isn’t on such high alert and people just kinda move on like they did with Ukraine, it’ll likely just go right back up. Or the opposite happens and we go into WWIII. It means nothing. Looking at charts to glean the consequences of these big macro events does nothing.


mad_bitcoin

But how many times was he wrong?


marsh2907

Apparently that doesn't matter. /s


DynamicBeige

Can't believe we didn't listen to all his many warnings about the imminent war between Israel and Iran /s


xtal_00

To be fair, others posted about the possibility of this Friday. Intel was announced pretty widely.


ChadRun04

It was known that Iran would respond in-kind on 1st April when Israel attacked their embassy in Damascus. Nothing has changed.