$BTC SCALPS
Trade zero.
Ground zero. Rock bottom.
I got cocky and had no SL.
I was sure it would rebound.
It clearly didn't.
Pinning this as a reminder to myself.
@D_Crypto Bitcoin was invented to facilitate fast and cheap transactions. BCH does this, BTC does not. Therefore BCH is the real Bitcoin.
This statement does not mean that Bitcoin Cash is BTC. BTC is no longer Bitcoin.
This may be the stupidest Bitcoin take ever written by someone who supposedly owns 850 BTC. He has somehow managed to accumulate the asset without understanding market cap, price discovery, scarcity or even why Bitcoin has value. My dog has the same level of market insight.
The entire argument is: “$105 trillion is a very large number, and large numbers frighten me.” That is not analysis. That is an old man becoming emotionally overwhelmed by multiplication.
Market cap is simply the marginal market price multiplied by the outstanding supply. It does not mean $105 trillion must be deposited into Bitcoin. Bitcoin is repriced by transactions occurring at the margin, using a tiny fraction of the supply actually available for sale.
Of the 21 million BTC that can ever exist, several million are lost permanently. The economically available supply is dramatically smaller than the headline number and it keeps shrinking while new issuance approaches zero.
Now the thought experiment we have been doing for years - There are roughly 70 million millionaires in the world. If each wanted only 0.25 BTC, they would collectively demand 15 million coins. If they wanted “several Bitcoin,” as many eventually will, fulfilling that demand would be mathematically impossible. And that is before corporations, pensions, sovereign wealth funds, governments and central banks begin competing for the same microscopic liquid supply.
So what happens?
The price explodes. This is Bitcoin 101, yet somehow an alleged Bitcoin whale still needs it explained with crayons. The gold comparison is equally braindead. Higher gold prices incentivize additional mining, exploration and recycling. Bitcoin cannot produce more than 21 million coins regardless of whether the price is $50,000, $5 million or $100 million.
And “my stack would be worth $4.25 billion” is not an argument against the valuation. You are simply unable to imagine yourself becoming that wealthy, so you have concluded the market cannot permit it. Remarkable intellect.
Bitcoin reaching $5 million is not some absurd pipe dream. Under global monetary adoption, it is conservative.
My strategy right now is to keep swing-scalping $BTC. Cautiously bullish rn.
$HYPE and $ZEC performed well last bear, so my logic is that they'll outperform most coins either direction.
$NEAR looks better to me than others in a similar price range (SUI, GRAM...).
I have zero edge with memes.
TA is just different to me.
I hold either too long or TP too soon, only to re-buy too high.
Bought a lot of memes this week...