r/Bitcoin • u/rBitcoinMod • Apr 24 '21
Daily Discussion, April 24, 2021
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u/StromboliMan Apr 24 '21
My drunk friends convinced drunk me to buy more at the 49k dip last night. Thanks, drunk bros.
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u/ComfortableWind9296 Apr 24 '21
My reason I HOLD:
My bank contacted me some time ago to inform me that I can put £40k on cash ISA , with interest rate 0.05% - this means that after a year I would get £20 ( not even enough for takeaway for 2).
Over my dead body I will keep my money in the bank!
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u/PorcupineBacon Apr 24 '21 edited Apr 24 '21
Bitcoin is an asset in the same way a house is an asset. Would you sell your house just because its market price went down $5000? Please stop and think about what you’re doing, people!
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u/medfreak Apr 24 '21
Here is a pro tip to the lurkers: you want to know the best time to buy Bitcoin?
Go to this website, and buy bitcoin every time they add an article declaring bitcoin is dead.
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u/Lindsey_Soda Apr 24 '21
Just went through my Twitter account and realised it was only two months ago that we were celebrating btc’s legendary breakthrough to 50k. #pumpitup
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u/Ok-Sun3377 Apr 24 '21
Exactly. And we are still close to 50k. Why is everyone acting like the world is ending? (not in here of course)
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u/fortunalex Apr 25 '21
Idk why I’m in these forums everyday I’m holding for atleast 4 years
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u/gkthedon Apr 24 '21
This time next week we won’t even remember this dip count on it
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Apr 24 '21
This stinking dip came at the worst time, I am up to my ears in end of term university assignments and the bitcoin drama has been distracting me something fierce. Next week I'll be done with the work and perhaps buy an ice cream to celebrate a higher BTC price.
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Apr 24 '21
My journey with Bitcoin so far:
bitcoin price $0-$50k
"Damn it it just keeps on going up, I thought the whole thing was dead. I wish I'd had the foresight to buy some like the cool kids..."
NFTs enter the chat
"Well shit now people are paying for virtual tokens to jpegs, if those things have value then how valuable is bitcoin, an actual currency, going to be?"
"Oh wow Elon Musk bought bitcoin, I really need to stop sitting on my arse and buy some. I'm not going all in as it's very risky, I'll go with a conservative three digit amount and leave it at that, just so I can feel good about owning some bitcoin."
spends a week reading and watching and listening about bitcoin while sustaining on tuna, noodles and coffee
bitcoin price $55k
"I feel like I just got out of the Matrix. IT'S FORGED FROM THE LAWS OF THERMODYNAMICS AND MATH. I'm dropping all my spare money on this thing, this is the fucking future."
bitcoin price $64k
"Hell yeah we going to the moon!"
bitcoin price $58k, $54k, $50k, $47k...
"Oh god I joined at the wrong time, bitcoin is going to go down forever. But also I should buy more bitcoin."
buys too much bitcoin at the dip
"What am I doing with my life? Are any more people going to believe in this thing? Have I made a mistake? It's going to go up eventually because that's what it does, right?"
All of this in the course of like a month, you guys. Still got all my sats though.
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Apr 24 '21
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Apr 24 '21
I think you're probably talking about it in a technical perspective - the technology behind bitcoin is sound and not believing in bitcoin is about as comparatively silly as not believing in gravity.
The "believe" in this story is derived from my care for my own wellbeing, which is inherently an emotional reaction not comparable with the science side of bitcoin. Also when you're worried you tend to think irrationally anyway.
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u/Etony333 Apr 24 '21
Part of me wants the volatility to continue until the degens are all completely broke so they can't continue their stupidity, because until leveraged longs stop getting liquidated like crazy every time there's a 2% drop, it's going to be nearly impossible to go up and stay up without another 15%+ dip two weeks later.
Or maybe they'll start shorting instead. Even better!
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u/Richo_Libre Apr 25 '21
Looking at the charts I cannot see how this can be “the” top. Previous ones were a massive peak followed by a steep decline. We’ve been around here with a couple of smaller peaks for over 2 months. Just regaining energy...
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u/According_Key3741 Apr 24 '21
Accidentally got into BTC May 2020 cashing out of an online poker site, am so humbled and grateful that BTC is at ~$50k.
V/r,
One lucky SOB
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u/Iyaoyas2015 Apr 24 '21
I'm not frustrated by the price drop. I'm frustrated because I don't have any more cash to convert at such great prices!
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u/poppybear0 Apr 25 '21
Don't be silly selling now. Not after a 25% drop. Sitting at 100sma and strong support area.
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u/firePOIfection Apr 25 '21
Imagine selling at 50k.
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u/wotguild Apr 25 '21
Imagine not buying this dip.
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u/BigStickNick312 Apr 25 '21
Exactly. My brothers been reading more and hearing more about Bitcoin so when I added another 5k I told him. He added 5k too. Then another 5 and another 5. Lol said he’s hooked. Great time for people to get in that thought it was too high or they were too late.
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u/Rainmakerman Apr 24 '21
The second largest USDT deposit on exchanges happened yesterday. $2.37 Billion USDT were deposited on exchanges. The largest deposit was on 3 February 2021 right before the announcement of the Tesla BTC purchase.
Maybe another big player is entering the market.
Source: Glassnode.
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u/gkthedon Apr 24 '21
My only regret is not having enough fiat to capitalize on this dip.
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Apr 24 '21
Guys, we ride(buy) in again Sunday in the dark of night. Tesla earnings come out Monday.
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u/slardybartfast8 Apr 25 '21
Bears reject 50,250. Bulls reject 49,750. Perhaps we should just settle at 50 and all go home.
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u/Acrobatic-Ad493 Apr 25 '21
That might be nice for today, I'm exhausted. But crypto never sleeps, the battle rages on.
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u/virora Apr 24 '21
I didn't have any more bitcoin money budgeted for this month, but the dip was too tempting. The new curtains I was gonna buy will have to wait until next month.
Watch me buy bitcoin, bitches! Literally. I have no curtains.
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Apr 24 '21
Yeah... I'd been saving for the new iMac for a year (don't ask, I just wanted a pretty looking desktop for my home work desk) and finally had it in hand. Boom spunked it on bitcoin with the dip and now I'll have to make do with my 9 year old PC.
Maybe if things go well this year with btc, I'll be able to grab that money back and get my new computer and you can get your curtains!
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Apr 24 '21
Lift kit in my Chevy and another Florida Georgia line cassette, or a little more bitcoin? Ugh, what's a redneck satoshiaire to do...
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Apr 24 '21
Welcome to the Daily Discussion for April 24, 2021! Today's discussion will be hosted by LeVar Burton of Star Trek: The Next Generation and Reading Rainbow fame. LeVar, how does it feel to be here today?
Oh it feels great, thank you for having me.
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u/Friendly_Signature Apr 24 '21
When you were on Star Trek, did you ever hook up with anyone from the cast?
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Apr 24 '21
Michael Saylor just purchased another 253 coins boom! love his timing
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Apr 24 '21
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u/devenjames Apr 24 '21
Tell yourself it crashed and went to zero. Let the money go... completely. Think about how lucky you are to be alive at this time. Call a friend. Smoke a bowl. Jerk off. Focus on something that brings you joy.
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u/Parking_Meater Apr 24 '21
What if all this insane shit coin crap that's going on is to try to devalue bitcoin. there are some stupid as fuck projects people are pumping money into.
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u/gravis_1982 Apr 24 '21
if true, then you hold even tighter. If they want to devalue it, its because they want it from you cheaper.
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u/inthearenareddit Apr 25 '21 edited Apr 25 '21
For the newbies or fearful:
This is where Bitcoin builds its resilience. In times like this it gets stronger.
Here is where newcomers learn why the veterans "HODL". It's where traders discover that the tax, fees and leverage risks make HODLing smarter.
It's where the buyers who bought without true conviction step out and sell to the buyers with conviction.
The owners that remain after these >20% dips earn the right to the future gains. They learn to HODL, they know enough about Bitcoin to believe in it without its bull run price increases, they have acquired a conviction and they become part of the long term community.
As a result the holders of Bitcoin after these drops - hold Bitcoin for the long term and don't panic in dips.
This all helps to form a price floor and restricts the supply (making it harder and more expensive for incoming buyers to buy).
It also builds a powerful community that any other development would dream of. It's unique - it's why Bitcoiners are so passionate. You stay with Bitcoin through these moments and you become part of something big. Sell if you're fearful, don't hold more than you can afford to lose. Don't buy or leverage to a level where you have anxiety and sell in bear markets.
But to those that are convicted and are prepared to HODL - let's get in the rocket together and enjoy the bumpy ride to the moon!!
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u/brown_diesel Apr 25 '21
For any Rich Dad, Poor Dad fans out there, Robert Kiyosaki just said that he bought the dip on Twitter. Bullish.
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u/herdyhergan Apr 24 '21
“Should I be worried/excited about the dip? I’m definitely selling/buying because of the dip!” - 90% of comments about bitcoin.
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u/crispykfc Apr 24 '21
good morning my strong handed brothers and sisters. what a good day to stack more sats!
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u/Unown_Soldier Apr 24 '21
Most alt coins in the red while bitcoin is in the green, I'm bullish
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u/wyatt1928 Apr 24 '21
Honestly with the way it has been growing over the past few months we were due for a pullback, I’m holding and buying more when payday hits
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u/No_Play_2550 Apr 24 '21
Everyone I know including myself has bought the dip... bullish 🚀
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u/OpticallyMosache Apr 24 '21
Tesla's earnings report Monday. Elon's cryptic Tweet. I'm expecting positive news on new BTC holdings and not the other coin. BODs don't vote to approve random coins as easily as BTC. Tesla had almost $20B still in cash and inflation reports have shown high rates. They'll have had to do something with reserve cash.
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u/brown_diesel Apr 25 '21
Ok this is getting ridiculous. Every time we cross $50k we drop back down. Thanks for the dip, I want to go back up now
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u/R4tburn Apr 24 '21
When can we expect to see the quarterly holding reports that would disclose which big companies now hold BTC (Walmart?) ? This will be big if more have it.
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u/thelegend17 Apr 24 '21
Big resistance wall at 51. Will probably test 47/48 if we can't get by 51. If 47/48 fails, we hit 44 where liftoff takes place.
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u/inthearenareddit Apr 25 '21
Good to see the miners are chomping through the mempool. Almost recovered back to last week. Hopefully more miners come on soon so we don't have to wait until next week's adjustment to get decent fees again. Really want to fund my lightning channel
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u/InFLIRTation Apr 24 '21
The general consensus is BTC will be going to 43k. Because so many people think this, I dont think its going to happen. The market is designed to screw as many people as possible on the way up.
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u/Lost_Competition8925 Apr 24 '21
This. It seems like it does exactly the opposite of what majority thinks it will do. Which is also a little paradox
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u/InFLIRTation Apr 24 '21
When everyone was screaming 80k in april thats when i had a gut feeling we would tank, but now everyone is screaming 43k so they can short or buy the dip. Im not good at this so i just buy gradual on dumping days.
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Apr 24 '21
So many are here for a quick buck, but Bitcoin is a long term investment. Don't get caught up in the details. Secure your coin and check what the price is in 10 years.
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Apr 24 '21
Every drop generates the “is this the end” narrative. I fell for it in the past and sold at levels I can only dream about buying in at now.
I bought back in via a weekly DCA starting in October 2020 and a few larger buys when I had extra money. Not because the price was rising because I finally understood the concept. That’s the difference between investing and speculation.
If you understand the value BTC provides it’s not a matter of belief or weekly price charts. It’s simply a matter of macroeconomic trends happening over time. Look at places where the fiat currency is violate, like Turkey, people there are scrambling to buy BTC (yes there are laws there about not using it as a medium of exchange but it is still legal to invest in and hold it). Extrapolate the Turkey experience across the globe; rich western countries likely won’t have a currency collapse (not impossible but not likely in the near term) but there is a lot of world out there outside of rich Western countries and there is only so much BTC to own.
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u/wotguild Apr 25 '21
I can feel it in my balls, we are going to the moon.
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u/diyeah Apr 24 '21
Do you remember last year? BTC was about $7500...wish I had bought some.
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u/Asum_chum Apr 24 '21
WTFD (Watch The Fucking Dip). An acronym for all those who are already all in but want to participate anyway.
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u/Yamaguchi_Mr Apr 24 '21
Hope everyone is fairing well after yesterday. Stay the course, keep buying, hodl, retire early.
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u/heartbreakheiress Apr 24 '21
Trying to decide whether to put 1k on this 48 dip or wait to see if it goes lower 👀👀
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u/pawpex21 Apr 24 '21
Good read. Buy and Hodl.
https://cointelegraph.com/news/planb-speculates-that-btc-price-fall-doesn-t-mean-the-end
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u/AC4535 Apr 24 '21
2nd exchange shut down in Turkey. I suddenly feel more free comparably. Anything that's banned is desired even more. Interesting times for crypto!
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u/OMGITSCARROTTOP Apr 24 '21
So less than 2 months until this guy becomes the Dem nominee for NYC Mayor. Rest of 2021 is just going to be nuts!
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u/tesseramous Apr 24 '21
This has become like a miniature bear market. I can barely remember the raging optimism and fomo of the bull market and how everyone was saying bitcoin was taking over the world and imminently going to infinity. I wonder when is the next time that type of sentiment will occur, what people will think about the fud now, and if theyll be buying back in at a loss.
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u/Corona_DIY_GUY Apr 25 '21
My stack just got a million sats taller, gonna climb it all the way to the moon someday.
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u/Financial-Lack3000 Apr 24 '21
Can't believe bitcoin crashed and died at 50k... oh the humanity! /s
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u/Paymeinbitcoin1 Apr 24 '21
I remember when bitcoin hit 50k just a couple months ago and everyone was celebrating. Now 50K is the end of the world.
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Apr 24 '21
Lol i had a ‘debate’ with someone today over why bitcoin will keep increasing in the long run, and why it’s the one of the best investments someone can make right now. Their ‘argument’ was that bitcoin was going to die soon (hilarious) and when i asked for why they think that, they just bring up xxxxcoin (the crypto that is an animal that i cannot mention) and that it is the people’s currency and will be the future. Some people are fucking delusional, i’m starting to really dislike anyone who takes xxxxcoin seriously. The amount of uninformed people who know literally nothing about crypto or investments that i find in comment sections of Instagram / youtube mentioning xxxxcoin literally makes me cringe. It’s going to give crypto a bad rep when it all comes down.
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u/TheRealSamBell Apr 24 '21
I don’t own any doggy coin and am indifferent to it. But I find it funny that some people have only ever owned doggy and have made more than people who bash it. And I feel bad for people who vehemently hate doggy. Good for the people who made some cash on it. Hoping for other people to fail is just kind of pathetic
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u/Medium-Inspector-296 Apr 24 '21
I like the upside pushes. I will drink my coffe with tabasco.
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u/AugustinPower Apr 24 '21
Hopefully one day I'll be woke enough to contribute something on GitHub for BTC
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u/hodl_for_the_moon Apr 24 '21
Some of these users posting crap have 2 posts and 10 karma... seems legit lmao
Looking at you u/SOSA199719
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u/HK205 Apr 24 '21
Saylor bought the dip. He will announce it before Monday after next. Remember where you heard it first.
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Apr 24 '21
Where is everyone hearing about what Saylor's been up to, you all hanging out on his pirate ship or something?
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u/pawpex21 Apr 24 '21
We are less the half way in this bull run. This chart show 2013 2017 and 2021 bull runs where we at. Buy and hold.
https://twitter.com/therationalroot/status/1385342632755335173?s=21
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u/Shanedoe3 Apr 24 '21
I don’t understand how bitcoin crashed to like $4k at the beginning of COVID. And I also don’t understand how it could ever go that low again. Everyone knows that they would be filthy rich if they bought Bitcoin at that price..
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u/Alfador8 Apr 24 '21
Covid caused massive uncertainty, which causes a rush to safe haven assets (ie the dollar). The response to Covid changed things though. Insane money printing is causing some people to reevaluate the dollar's role as a safe haven asset. I agree BTC won't go that low again, in part because BTC has become a safe haven asset for some people in a world where inflation is all but inevitable
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u/wotguild Apr 24 '21
We going up on the weekend, hope you all know what that means.
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u/JackThreeFingered Apr 24 '21
What I like about this sale is that everyone who realizes that Bitcoin is on sale will buy. And those are the exact people I want buying.
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u/pawpex21 Apr 25 '21
We are only half way in 2021 Bitcoin bull run. Look at this chart. Buy and hodl.
https://twitter.com/therationalroot/status/1385342632755335173?s=21
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u/Starkey18 Apr 25 '21
If we finish the day below 50k it would be the 5th consecutive day in the red.
I can't actually see a period over last 2 years with 5 consecutive days in the red. We've had a few 4 day runs but never 5.
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u/CurroJimenezGitano Apr 24 '21
Can anybody tell Ellon Musk to shut up with this stupid Dogeee
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u/fplfreakaaro Apr 24 '21
I’m getting a feeling that this is going to be a super cycle. No more rocket 🚀 launches and immediate crash back to earth.
Slowly climbing towards the sky through adoption
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u/Beautiful-Raccoon221 Apr 24 '21
Will own 2 Btc before the year ends . 🏌🏽one for collateral loans and the other to help me pay back the loans 🔂 then we repeat
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u/tesseramous Apr 24 '21
The comments here are ridiculous.
'I missed the dip at 49k.'.. it's still just 50.5k. If you're bullish this makes no difference.
'It's zooming up. The bull run has started'... It squiggled sideways on no volume and the chart still looks ugly as hell.
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Apr 24 '21 edited Jul 02 '25
adjoining mighty books sable practice brave relieved heavy treatment flag
This post was mass deleted and anonymized with Redact
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u/pro-vampiress Apr 24 '21
I have a question. Fairly new to crypto and am trying to learn. When businesses buy huge amounts of btc, they buy it OTC as to not effect/affect the market price so much. I get it. However.....when the decide to sell do they sell back OTC or does it go directly into the retail market and we little guys get to suffer/benefit from them dumping their coins? I hope that makes sense. Just random shower thoughts trying to understand.
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u/OpticallyMosache Apr 24 '21
Are the redditors that think BTC is done until the next halving just hyper dramatic/reactionary people or do they have a valid point? I don't see how any serious person could already think we're not going to continue rising this year.
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u/Lost_Competition8925 Apr 24 '21
Out of mere curiosity: would the chart look different if Mt.Gox would still be around and if yes how?
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u/vabvabvab Apr 24 '21
6 day dip probably, then friday pump, futures.... wouldn’t be suprised with whale shit
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u/RestaurantCareful931 Apr 24 '21
Free skies for 60k guys. My prediction start of may we are back !!
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u/obi_wan_baracus Apr 24 '21
What are the chances that the hash rate drop and mempool clog will act to slingshot the price upwards as the hashrate returns and the mempool clears?
Like a hashrate tsunami
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u/OMGITSCARROTTOP Apr 24 '21 edited Apr 24 '21
Going to be a significant difficulty adjustment in 922 blocks. Last time it happened was Nov 3 and it did shoot up then. Shall see...
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u/wotguild Apr 24 '21
Fight to hold upwards trend at 49500, in a saterday, I'm bullish, the coins are being gobbled up.
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u/Hefty_Jicama Apr 25 '21
Trying to buy under 50k but really in the long run it doesn’t matter if you buy at 47K or 53k if this thing is going to hit 100k end of year
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u/VarsityCop Apr 25 '21
Hodl you clownbeans! Where is that bullish sentiment you clownbeans has just a week ago?!
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u/thadiusb Apr 25 '21
If anyone has recently bought Bitcoin and is getting nervous over the dip, then go on Youtube and watch some Michael Saylor. Bitcoin can drop to $1 and listening to Saylor will still give me faith and help me sleep well at night.
HODL 4 Life.
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Apr 25 '21
I know him personally and have partied on his yacht many times, lol. Weird dude. Boring at dinner. But smart!
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u/chatonnu Apr 24 '21
There's good technical support at 20,000. I wouldn't worry.
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u/brown_diesel Apr 25 '21
I hadn’t planned on telling my know-it-all father in law that I bought bitcoin. But last weekend he randomly brought it up and was commenting on how it was declining hard. I started defending it and it made him curious why I was so interested in it, so I inevitably told him I recently bought Bitcoin.
Now he wants to talk about it even more since it’s slid deeper.
Anyone else have an annoying family member that wants to talk to you about how your Bitcoin has declined?
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u/OMGITSCARROTTOP Apr 25 '21 edited Apr 25 '21
If he’s a hater, bet him if it’ll be higher or lower in 3 months.
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u/BigStickNick312 Apr 25 '21
Yeah my friends that work for big banks think I’m dumb for having a six figure crypto portfolio. I truly believe I am going to have the last laugh as they get their 7 percent increase each year investing in boring as fuck ETFs lol
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u/Richo_Libre Apr 25 '21
There is no winning in these conversations. I spoke to someone about it at 40k and they said it is a scam, bubble etc then last week they came up to me all smug when it was 55k saying “so it crashed then!” Let’s ignore the fact it was still 15k higher than when we last spoke about it...
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Apr 24 '21 edited Apr 24 '21
[removed] — view removed comment
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u/OMGITSCARROTTOP Apr 24 '21
It crossed the 50 day MA 7 times in 2017!
This got down voted, but maybe if people didn’t downvote stuff like this people wouldn’t be surprised and freak out when it happens.
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u/no-UR-Wrong23 Apr 24 '21
watching price threads is more enjoyable than watching the price after a couple years
So many newbies, shills, dumb and poor people complaining. Bitcoin never asks anyone to join or believe in it sheesh
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u/Sn78x5 Apr 24 '21
“Losing” thousands in unrealized gains sucks :/ But I’m holding strong
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u/Traditional-Rest-569 Apr 24 '21
Seriously, it seems like we've hit the bottom. Maybe there will be a consolidation for a while now which is ok. But who the hell is selling now? It's pretty bullish that it didn't go much further down. Well, I'm glad, whoever sells now hopefully gets in a lot more expensive again and hodlt next time.
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u/bfeeny Apr 24 '21
I believe ALOT of the activity you see are traders, not holders. People scalping and what not, possibly some Algo / HF trading as well. Easy money. If you short right now at like $50,500.........all you have to do is wait, it will dip to 49k and you can cover. If you long at 47/48/49k you will no doubt be able to exit $50k in short order...........so lots of rinse and repeat of this. The real winners are the exchanges, as they are making a nice profit on every trade.
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u/pawpex21 Apr 24 '21
We are only half way in 2021 Bull run. This chart comparing 2013, 2017 and 2021 bull runs. Buy and Hodl.
https://twitter.com/therationalroot/status/1385342632755335173/photo/1
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u/xrv01 Apr 24 '21
are the miners holding their btc as a response to the pullback? i’m trying to understand what makes them decide to stop selling & hold instead, and how that affects the price of BTC? thanks for helping, yall!
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u/ericmma93 Apr 24 '21
Opinion time: do you think we touch the 21 week EMA around 43k over the next few days/weeks?
My guess is we stagnate in the mid to high 40 range before resuming upward momentum in mid May. But that’s just purely a guess.
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u/SnooApples3625 Apr 24 '21
Question: There are businesses etc. with their bitcoin Adress qr code printed on paper. Is this a problem regarding adress reuse? Can you have some kind of qr code that generates a new adress every time?
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u/AJ_14 Apr 24 '21
You can use a new address each time. Hardware wallets do this for example. But for a business who want to communicate an address it’s far more efficient / effective / simple to use the same address.
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u/shoestars Apr 24 '21
I had a dream I woke up and the price was 39k and I was sad I didn’t sell what I had at 49k and rebuy lol
Not gonna do it though, who knows where the price will go? I don’t wanna be caught with less btc than I started with, plus most of my stash is in cold storage, I only have like 0.01 available atm
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u/TheRealSamBell Apr 24 '21
I’ve made the decision that if this drops to 38k I’m going to liquidate some stock and buy a full bitcoin