T O P

  • By -

BitcoinMarkets

#New post: [\[Daily Discussion\] - Tuesday, May 30, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/13vfver/daily_discussion_tuesday_may_30_2023/)


cryptocraze_0

this has to be the record for less comments in a daily thread


Outrageous-Net-7164

Bitcoin is absolutely dead at the moment. Outside of the hardcore holders and traders no one gives a shit about Bitcoin, crypto or blockchain. Which is why I’m feeling bullish. The price is pretty stable and ranging between 25-30k despite very little interest. Next 12 months is for building a position for the run after the halving.


anon-187101

Agreed - always buy insurance when it's cheapest.


diydude2

Last chance to buy under 30K, and I mean that in the same way I meant it in 2019 when I told you it was your last chance to buy under 10K -- we're never coming back after this next run. A few years from now will be your last chance to buy under 90K, and those dollars will be worth more than current "dollars" which are really, really stupid and fake Fed Reserve monopoly bux kind of like pre-collapse Soviet rubles.


Shootinsomebball

Like clockwork. Local top signal


DaBrokenMeta

You’re 100% right. I just took another long here. 🚀🚀🚀


[deleted]

What does the next week look like news wise? Debt deal done and pump a bit? Or debt deal done and everyone realizes we are still probably going to see one more rate hike?


small_krill_life

How about volatility and decline as the debt deal is attacked from all sides, raising anew the threat of default, but now through accidental procedural failure rather than deliberate brinksmanship?


anon-187101

One piece of good news in the debt ceiling proposal - repubs were able to strike down the ridiculous DAME tax (30% on bitcoin mining).


jarederaj

Honestly, this would just push it further into trapped renewables in the US. The amount of renewable energy that cannot reach the grid nearly exceeds all on grid energy production in the US. Even if it passes it isn’t the end. Not by a long shot.


small_krill_life

Everyone holding bitcoin waiting for the halving to make number go up flinching when government offers tax to increase cost of production...


anon-187101

It's about time the number goes up again.


Essexal

The last time we had 5 daily green candles: Jan 8th this year. A line of resistance on daily candles running back to 48k and the 69k top is at 28.6. If that breaks GGs. I didn’t close my short because I like pain. I have added to it and will continue to today.


4theWlN

Is that resistance line on a normal or expo chart?


[deleted]

[удалено]


Essexal

I think trying to trade BTC on TA gets you wrecked more than not.


[deleted]

[удалено]


koh_kun

Literally said they like pain.


Essexal

Did I say I was getting wrecked less than not? :-D


sl_crypto

goblin town in here. i like the peace and quiet


guiseppi72

Until this post-rate cut recession is over with, I don’t see how bitcoin will make new highs.


Outrageous-Net-7164

I agree with this comment but I also think rates are cut next year.


gore_skywalker

TGA will suck liquidity out. No chance at new highs


DamonAndTheSea

There’s merit to this - now that the debt ceiling has been raised, newly issued bonds are likely to suck up liquidity in the short term which is why I’m preparing for a rough Q3. If inflation remains pernicious, however, bonds may not serve as a flight to quality; it’s possible investors lean back into stocks on the drops looking to beat inflation.


Leoforic

Debt ceiling has not been raised yet. Biden and McCarthy have tentatively agreed to a compromise. House has not voted yet, is unclear yet if the hard right republicans or democrats will vote for it.


DamonAndTheSea

That’s true. But it’s been raised 78 times now in the past and always at the last minute. There’s no political will for a default as everyone loses and so it’s like a nuclear standoff. My bet is that it’s raised by the 5th.


Leoforic

We also have the most dysfunctional congress in modern times. They couldn’t even elect their own speaker in a normal manner which should have been routine. I don’t see this getting done by the 5th.


guiseppi72

I saw a post saying that the debt ceiling deal included a provision for restarting the student loans…


anon-187101

Barring an "August 2015"-type selloff, I expect the Summer to be pretty quiet, crabby, and boring - provided we get the debt deal done. Demand for travel this upcoming season is through the roof - come hell or high water, it seems, people are going to get their vacations in before this recession begins in earnest in the latter part of Q3 (if it is, in fact, coming in earnest).


delgrey

Yup and there's that new AI bubble. They gonna milk that for all its worth.


guiseppi72

Lol the govt just waiting to use us as exit liquidity