The 2021 Bitcoin supply shortage | Page 4 | Crypto Craft

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Sentiment tracker (2021) 2 replies

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The 2021 Bitcoin supply shortage

  • #61
  • Feb 16, 2021 7:26pm Feb 16, 2021 7:26pm
Quoting Goat
{quote} 50K sure feels like a top.
A top or the top?
  • #62
  • Feb 16, 2021 8:26pm Feb 16, 2021 8:26pm
Quoting cryptocow
{quote} A top or the top?
THE top. Not trying to make a statement, just the sentiment I'm feeling.
  • #63
  • Feb 16, 2021 8:27pm Feb 16, 2021 8:27pm
Sweet Jesus.
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  • #64
  • Feb 16, 2021 8:52pm Feb 16, 2021 8:52pm
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If you're wondering why we keep getting rejected at $50K... that's where I'm selling!!

Don't worry bulls, I'll be done soon!
  • #65
  • Feb 16, 2021 11:50pm Feb 16, 2021 11:50pm
Quoting Goat
{quote} Nada. Nothing can move us higher it seems.
BSV
  • #66
  • Feb 17, 2021 1:11am Feb 17, 2021 1:11am
They broke the $50K sellers! Nothing in the way now!
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  • #67
  • Feb 17, 2021 1:20am Feb 17, 2021 1:20am
FIFTY ONE!!
  • #68
  • Feb 17, 2021 2:07am Feb 17, 2021 2:07am
This feels crazier than the dotcom boom.
  • #69
  • Feb 17, 2021 8:24am Feb 17, 2021 8:24am
Quoting Goat
This feels crazier than the dotcom boom.
My logic is agreeing with you that it's time to bail (at least til we see a big retracement), but my greed just wants to hold on. Even my neighbor is asking me about bitcoin, which is the number 1 indicator to sell (other than my dad asking me about it).

Plus most of my store is secured in my hardware wallet, which is locked up in a super-secret place that takes some effort to retrieve.

The bull case however, is that this also feels like the beginning of institutional pile-in. Paypal (+venmo), Visa, Mastercard, BNY.... they're all just getting started.

  • #70
  • Feb 17, 2021 8:41am Feb 17, 2021 8:41am
Quoting Goat
Coming up on a trilly!! {image}
Based on current supply BTC needs to reach ~$53,673.92 to hit that magic $1T.

At this point it's a question of when, not if.
  • #71
  • Feb 17, 2021 9:47am Feb 17, 2021 9:47am
Quoting cityRat
Plus most of my store is secured in my hardware wallet, which is locked up in a super-secret place that takes some effort to retrieve.
You're not the only one stashing it away..

This may be our supply constraint right here:
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Live Challenge All Time Return: 171.5%
  • #72
  • Feb 17, 2021 9:55am Feb 17, 2021 9:55am
My theory is.. as more "financially savvy" crypto newbies adopt long-term we are going to see more BTC stashed away at the margin, not used for trading. They are prone to be the adopters who buy hardware wallets and subscribe to a higher level of cyber security.

Disclaimer here... this may not hold a candle to the institutional forces at play!
Live Challenge All Time Return: 171.5%
  • #73
  • Feb 17, 2021 2:34pm Feb 17, 2021 2:34pm
Quoting cityRat
The bull case however, is that this also feels like the beginning of institutional pile-in. Paypal (+venmo), Visa, Mastercard, BNY.... they're all just getting started.
Interesting point. I'm wondering what that would do to BTC price though. Paypal/Visa/BNY aren't buying up Bitcoin, they're facilitating transactions. For price to rise we need more speculators, and what speculator on earth doesn't already have a BTC position? (other than DDT)

With that said, I won't at all be surprised if BTC hits $100K.

Quoting cityRat
Even my neighbor is asking me about bitcoin, which is the number 1 indicator to sell (other than my dad asking me about it).


Let us know when you get the call from pops!!
  • #74
  • Feb 17, 2021 2:40pm Feb 17, 2021 2:40pm
Quoting yieldjunkie
{quote} You're not the only one stashing it away.. This may be our supply constraint right here: {image}
That graph says that exchanges are hording BTC. The price went up by 500%, but the amount of coins only dropped 25%. That's the point, right?
  • #75
  • Feb 17, 2021 2:42pm Feb 17, 2021 2:42pm
Quoting Hasher
{quote} Based on current supply BTC needs to reach ~$53,673.92 to hit that magic $1T. At this point it's a question of when, not if.
Yup! Might be today!
  • #76
  • Feb 17, 2021 2:56pm Feb 17, 2021 2:56pm
Sighhh. Where to sell, where to sell.

I have exactly 20% of my original BTC coins. With 80% sold, my anxiety has mostly subsided. I could live with myself if Bitcoin went to zero tomorrow.

That makes me think a little different about this last 20%. Why just dump it at 50K when clearly this bull is on the move? The stakes are high, but if I play it right I could probably get out a lot higher.

Could also get a severe burn.
  • #77
  • Feb 17, 2021 4:06pm Feb 17, 2021 4:06pm
Complicating matters is that my last 20% of coins represents 40% of my total profits from the trade (been selling since $10K). I have too much money on the line. I would never bet this much money on some crazy bubble, and that's exactly what I'd be doing if I don't dump now. Sigh. Gotta do the right thing here. Stay the course.


"How do I, say goodbye, to what we had?"

- Boys II Men
  • #78
  • Feb 18, 2021 12:19am Feb 18, 2021 12:19am
Whaaa?? They're betting Bitcoin will be as valuable as gold. Wow. I guess it could happen though.
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  • #79
  • Edited 1:45am Feb 18, 2021 12:26am | Edited 1:45am
Feels insane to be unloading into this rally, but here I am.

I'm going to need therapy after this.
  • #80
  • Feb 18, 2021 1:16am Feb 18, 2021 1:16am
What is going on with the world that Bitcoin is worth a trillion bucks?? Back in the days I thought $50K would mean we're paying for half our shit with Bitcoin. And while Bitpay lets me buy Amazon gift cards, this is hardly the world I was imagining.

I don't get it anymore. Feels foolish to break up with Bitcoin at such a time, but it's hard to stay in a position when you don't get it.
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