What's With Bitcoin's Recent Price Action?
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- Опубликовано: 1 июл 2024
- Since breaking all-time highs in mid march of this year, the Bitcoin price has been down and sideways. What’s behind this recent selloff?
From long term holders taking profit, to miner’s depleting reserves, we do a deep dive backed by data to look at four potential catalysts for the recent price action.
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Warren Buffett once said to treat investing in securities like real estate-you don't constantly check for gains. So, the recent bitcoin price drop doesn't bother me. I keep dollar-cost averaging and adding to my position, and I'm up 200% year-to-date because of this strategy.
Regretting missing out on early Bitcoin investments, I kept funds in a HYSA. Now, with $200k to invest, I want to avoid FOMO and buying at the peak. What's the best approach for a newbie to navigate the market?
During bear markets, aim to 5x your portfoli0 by accumulating crypto and reinvesting dividends. Consult a financial advis0r for help. Since 2020, my $1.2m portfoli0 has averaged 28% annually through restructuring with growth stocks, ETFs, mutual funds, and REITs.
People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
Who is guiding you, and how can I reach them?
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.
It’s doing exactly what it’s historically done 90 days post halving…. nothing
And people think this time is different 🤦♂️
It is different. Mass OTC adoption, yet price is way undervalued.
Yeah people are pathetic btc has volatility but always moves higher into the right
Stay humble and stack sats with some diamond hands…✌🏻
Thank you for supporting Bitcoin❤
“Have you sold any?”
“I, I, I, I, I…. I, I, I, I, well, I, I, I, I, I, I, I…..”
🙄
He also started saying he thinks this is the top after the stuttering…
Kind of sounded like he didn’t want to say what he is REALLY doing/thinking.
Sounds like he’s pushing a shitcoin he controls.
Hey Donte, where can I get that shirt?🤔
I want one too
People gotta stop trying to pick future numbers and just admit it's very uncertain. The only certainly is that BTC will continually go up in value over time.
Amen
Great that govs are selling bitcoin for fiat. Selling a hard currency for a inflating currency. Brilliant.
The question is...why sell something you cant print, for something you can!
Very informed analysis. A lot of other people weighing in don’t even mention Germany (because they’re clueless). Good job 👍
Buy, secure and HODL!! 💰🔐
That shirt is insane!
Bitcoin confidence should grow considering the underlying support over the last 100 days
Good point
Dante… you are my favorite channel.. bought bitcoin early.. and I think all us early investors are looking into PRIVACY coins.. bitcoin is not private.. for humanity to be free we need be able to transact anonymously.. MONERO,PIRATE chain etc..oh and we need bitcoin.. because not all transactions need privacy
Another cool shirt! Of course great content as always. I’ll be stacking $21 of sats per week & HODLing until around the next peak.
I pray it goes down for another week or so. My wife has an inheritance check post date for July 9th lol
Heck yeaaaaah
I'm trying to be a part of the 21 million club myself
😂😂😂 love this
Had Bitcoin shot up it would've taken a steep correction...building support and a new floor is a good thing...supply will deplete as ETFs go global and the classic cycle will continue. Blackrock will continue to play their enriching games but that won't impact the long term.
I think it would be nice if you did cover the Bitcoin power law topic. There really is nothing that has been as accurate as that model.
I think etfs made it less volatile. May not go to 325k this cycle but also won't fall to 25k
Halvings happen, scarcity is real, math works. Never sell BTC, use as collateral. This is all very normal
Use as collateral… you are a genius.
Great analysis
As always, a great show..
FOMO has to go to 95% or more, that's normal and inevitable. Imagine how that translates into price from the point we are now.
Thx Dante
I just keep on weekly DCAing through Swan. It’s on auto pilot…
Life style chips. 5-10% of holding onto an asset for many years is healthy for the rest of us who want in.
Great content, as always Brother. Keep stacking-:)😊
If measured in gold or inflation adjusted dollars, BTC hasn’t even come close to an ATH since 2021.
That’s a really good point, I never considered that. Thank you for that.
I love your videos, man. Subbed!
Welcome aboard!
That interview with J Powell is crazy to listen to ahaha. Buy sats and chill
Love your shirt! Where can I get one?
fomo21.com
Hit 100k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month this 2024 investing with Amelia Jason. I still thank you for the level-headed financial advice.
less is better....I buy, and I hold !!!!
Peter Thiel should just have kept a neutral position and not a jittery stutter statement about how it’s not gonna pump.
Q2 and Q3 have always been the weakest months for Bitcoin, and this cycle is no different
Don't expect much positive price action until late September, early October
I want that T-Shirt
Where can I get that shirt???
Can you get your podcast on Spotify
Miners are about finished selling…
Dante, much appreciate your posts.
Sheeze, why don't the Gov'ts with Seized BTC put them on their Books to 'Hedge' their Fiat?
Do your own homework and Kind regards to all...
Soooo...Thiel doesn't think BTC is going up BUT he thinks he didn't buy enough. Something strange with that interview.
Very odd. There was excessive stuttering and mumbling, too. He was trying way too hard to be careful with his words.
The main reason is the excessive shorting that is happening by HFs who believe Bitcoin is overbought so they are shorting it to the tilt!
Yo Dante, I want to buy that shirt bro...Tell us how...c'mon man...
Yes, nice ramp up but Bitcoin, what have you done for me lately?
😂 Dam Peter
Ngl this cycle is concerning
Not flinching. More adoption, more hype, more emotion means irrational decisions - selling. Facts are neutral. The facts remain BTC is the best performing asset This decade.
Theil sure does stutter a lot
Retail is not buying bitcoin. Especially new retail buyers.
Where do ya get a cool T shirt like that?!
fomo21.com
it's called manipulation
And this reason is not mentioned.
Why would long term holders sell at this price and not wait for at least $100K. Because they are "bored" as you said? That does not make sense. Then you said the Mt. Gox recipients wouldn't dump. They are forced long-term holders. Why wouldn't they if the others are? Why won't both groups "zoom out and take a long term view" like Tom Lee, as you suggest?
I go by feel, no data required
Not TER 1 backup by nothing
(Litle energy)
I hope all the fearful sell their bitcoin so the price stays here for a bit longer so that I can stack more finneys, bits and sats
I am referring to Peter Theil --->> Hes stammering. hes lying, its a tell.
And sweating
His lips are moving. He’s a notorious liar.
And the way he has a problem with the FBI liking it. That's by design - it's a public ledger.
If you watch him enough it's easy to pick up his scam. Hopefully everyone is noticed by now that it's a constant buy buy buy situation but nobody ever says sell that's the trap it's for suckers. Come on folks if you don't realize by now this is under government control I have a bridge to sell you for a dollar. Decentralized is complete bullshit the second investment firms or the government gets involved duh! Bitcoin is nothing more than a CIA creation. Those who don't pay attention will be run by fools that do.
Love the shirt: Jesus, Trump & BTC!
Governments think it is their right to steal Bitcoin. Don't give them your keys. Tell them you lost them.
Everyone is fighting out its not worth the hype 😂 not gonna do nothing
Ho buy the last wan
😂😂😂piramide game
What do u mean the mt.Gox creditors had the last 10 years to sell? Aren't they just getting their btc back now in July 2024?
Of course lots of them will sell
Their basis is less than $1k. Why sell and pay tax? Most will not sell
Also there was many ways to sell your credit in the bankruptcy. But I hope they do sell it all so that I can buy more bitcoin on sale.
Doesn't make sense why they wouldn't sell when they bought around $700.
So what there's gains tax. Big deal. It's all useless if u just hold bitcoin forever and never realize the gains
@@88gcllc so your reasoning for people not to sell that held for 10 years is tax? Why would they buy it in the first place then?
@Einstein-420 they go Roger var who to say they aren't coming for y
Listening to Thiel hurts inside
What the hell is wrong with Peter Thiel, this was a screwed up interview... I'm downgrading his reputation based on this one
USG, germany, china all own bitcoin and marketing saying its scarce? 😂😂😂
We've been in a clear bear market since mid-March ATH of $74K, a long series of dead-cat bounces, the latest just confirming that. This will most likely break to the down side and go into the 40K-50K region. In 2025 we may see the next bull run. But the 2024 bull run is done, and as in 2021 it ended a lot quicker than people were expecting. There is a whole lot of space that needs to be filled in between 60K and 30K, a vast gaping hole to dive into as we come off this peak. Just look at the long term Bitcoin chart and you see it is a series of sharp peaks separated by deep gullies. And every peak has two sides to it, an upside and a downside. Just slide the Bitcoin chart to the left and you'll see the peaks that are to come.
What is with all the studdering when answering the question. Sheesh!
Peter Thiel made no sense at all, he didn't even answer the question.
I smell black swan foul play forthcoming.
*Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $12,000 and got my payout of m $270,500 every months,God bless Christy Fiore🇺🇸🇺🇸🇺🇸..*
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Christy Fiore.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
Would you really wana trust a billionaire who has FBI friends and stutters like crazy when stating his position? 😂 common people wake up, keep buying BTC! 🎉
😂😢
he stutters when he lies
FBI would rather you use PayPal that makes it really easy
Imagine selling BTC LOLOL
First
yeh? Then hold my beer
Everyone knows about BTC. Network additions are very low, ETF inflows are pitiful, search data in non-existent. Adoption has nearly peaked. People dont need it and will always stick with fiat and eventual cbdc. Any "Store of value" that has collapsed between 75-90% multiple times in a 15 year span, is the opposite of SOV. There no reason or catalyst for the price to continue to go up. Its price is manipulated to destroy leveraged trades, and range trade. The show is over.
Try living in Argentina , Turkey or Lebanon. They are well used to having the opposite of SOV. Gold is considered an SOV. Gold had a 3 year bear market and then went 3 years sideways. $1100 to 2400 . The problem is clearly with the $USD which is a rather new asset as of 1971.
I am new to bitcoin . I was one of those ETF like chumps that nibbled on it as a hedge on Robinhood just last year. I finally woke up and pulled it off into a cold wallet. I don't want it up to 5% of my net as an SOV. I don't want it as an investment up 5% of my NET. I want it through its global liquidity. DCA up to my target is going to be SOV and liquidity. Every time I cross a border I have to report to customs. I have some Russian ADRs that I don't expect to liquidate anytime soon frozen by Swift. I have seen bail ins in Cyprus and bank freezes for Canadian truckers. I want it for its utility. What other asset besides gold and silver in my hands does not have counterpart risk? I don't need it to do anything but be a 5 year DCA average in keeping up with inflation for that purpose.
So in other words it has utility I don't have in anything else. After 5% , we'll see but until then its just a premium on an insurance policy at these prices.
Buy Bitcoin today is like invest on Jesus Christ at the age of 12......after wedding Cana !!!!!
Thiel is gaslighting newbies. He knows better. He wants your Sats on the cheap. Disappointing; not surprising.
Aa yea, yea, just profit taking bla, bla... The Bear market is in!
Bitcoin has lost it ethics.
It was meant to go AGAINST the bankster but what we got is, BlackRock, Fidelity, Saylor, … one bunch of centralised capitalism. Beginning of the end.
BTC never had ethics.
Bullshit
Lose the shirt Dante. Affiliation w/ MAGA is not a good look. Love ya Buddy. That’s a style which will not hold up to history.
Why? Love or hate Trump. He made a good slogan that was catchy
@@joshuaeckert9249 that is a way of looking at it and I trust that is what Dante is going for. But any affiliation with the energy of a fascist is tricky and in the scope of time I suspect The Donald will go down as exactly that.
Learn how to spell bob.
@@kreggdanuser2963Nic nit, pic nit.
Why, is it too tight? (original comment: "Loose the shirt Dante. blah blah MAGA blah blah fascist)
Cheers from My RUclips chanel ❤❤❤❤❤❤❤❤❤❤
9:02 as a German i am very depressed how dumb my goverment is 🥹
so everybody and his grandma is selling again, bitcoin formed a double top again and we are supposed to hodl huh..
well..
What garbage