Bitcoin Hits an All-Time High of $118,000, Up 21% for 2025 (yahoo.com) 92
Bitcoin "vaulted to a fresh all-time high Friday, breaking above $118,000," reports Yahoo Finance:
Year to date, the token is up roughly 21%, buoyed in part by crypto-friendly policies from the Trump administration, including the establishment of a strategic bitcoin reserve and a broader digital asset stockpile... "At the heart of this rally lies sustained structural inflows from institutional players," wrote Dilin Wu, research strategist at Pepperstone. "Corporates are also ramping up participation," he added. The analyst noted companies like Strategy and GameStop have continued to add bitcoin to their balance sheets. Trump Media & Technology Group this week also filed for approval to launch a "Crypto Blue Chip ETF", which would include about 70% of its holdings in bitcoin.
The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated "Crypto Week" on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework... The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins.
"After jumping above $118,000 on Thursday, technical analyst Katie Stockton, founder and managing partner of research firm Fairlead Strategies, believes bitcoin is on track to reach $134,500, about 14% higher than current levels," writes Business Insider . It's not just bitcoin that's jumped this week. Other cryptos are surging as well. Ethereum has rallied over 16% in the past five days, and as DOGE rose 8% in the last day alone... Additionally, over $1 billion in short positions were liquidated in the last 24 hours as the price of bitcoin surged and traders were forced to close their positions, [said Thomas Perfumo, global economist at crypto Kraken].
The timing of bitcoin's breakout also comes days before Congress kicks off its highly anticipated "Crypto Week" on July 14. Lawmakers will debate a series of bills that could define the industry's regulatory framework... The GENIUS Act is among the regulations the House will consider. The bill, which recently passed through the Senate, proposes a federal framework for stablecoins.
"After jumping above $118,000 on Thursday, technical analyst Katie Stockton, founder and managing partner of research firm Fairlead Strategies, believes bitcoin is on track to reach $134,500, about 14% higher than current levels," writes Business Insider . It's not just bitcoin that's jumped this week. Other cryptos are surging as well. Ethereum has rallied over 16% in the past five days, and as DOGE rose 8% in the last day alone... Additionally, over $1 billion in short positions were liquidated in the last 24 hours as the price of bitcoin surged and traders were forced to close their positions, [said Thomas Perfumo, global economist at crypto Kraken].
I wish (Score:3)
I wish I had bought some in 2009, instead of buying a pool hall.
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Re: I wish (Score:2)
Start a brute force attempt on it now and maybe you'll get it open in time to make your grandkids rich.
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Re: I wish (Score:4, Funny)
This. I enjoyed the $15,000 gram of weed and 8ball of coke I bought in my 20s.
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Nice, I'm actually hoping to open a pool hall next year thanks to btc (and cue sales). Where is yours?
Time to sell (Score:3)
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It’s because orange jesus announced new tariffs on the weekend. He does this all the time so his cronies can sell off before the market dips on Monday. Then a month later it’s TACO all over again.
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The market doesn't even react when he says tariffs. Did the first time, then started ignoring him once he walked it back.
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yes, it's time to sell any dollars you have. the tricky question is in exchange of what ... i'm not really sure bitcoin is the best bet, but it is as bad as anything that comes to mind. some say gold and silver ... not sure of that either. diversifying would be the logical move, or maybe investing in start prepping. our overlords are about to fuck over the part of our world that has run its course, which is mainly the whole world for most slashdotters.
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The problem with gold and silver is Russia is sitting on a lot of gold, and it is conceivable Putin will cash out a big market crushing amount to save his skin.
Not predicting it will definitely happen, but the risk of a huge drop in gold and silver prices is not so small.
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If you look at the BTC exchange rates, BTC/USD goes up as USD/EUR goes down. In fact BTC/EUR hasn't moved up a lot since last November. What you see here is not BTC rising, but USD falling, and I see no reason, that this trend would stop any time soon. By selling your USD for BTC you would likely at least maintain your purchasing power.
Re: Time to sell (Score:2)
You're also seeing the Euro rising. Euro is the odd man out in the global markets. Check Yen, whose performance is closer to the international median.
People were giving them away (Score:2)
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2013 was the year GPUs got pushed out of mining, but if you were in a mining pool with a gaming laptop in January you could have expected to have a bitcoin by March.
It's DeFi! (Score:2)
Meaning that this price is absolutely artificial and means nothing.
Re:It's DeFi! (Score:4, Insightful)
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oh, so just like any other fiat currency?
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It's a price point at which BTC can be (and constantly is, the markets are very liquid and have considerable volume) bought and sold. You can scream "but it's not backed by anything!!!" all day long, until I exchange some satoshis for USD and wave them in your face.
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Do you have ANY examples of somebody exchanging more than about 1 bitcoin for anything other than other cryptocurrency?
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If you go on a crypto exchange, you see trading pairs, e.g. BTC/USD, BTC/EUR and so on. You also see order books and trading volume.
I kindly assume you never heard of any of this and asked this question in earnest.
PS: last time I shaved I saw someone who would fit your description.
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Sorry I guess I'm going to have to ask a more specific question. Do you have an example of anybody owning a few million $ in bitcoin *exchanging ALL of it* for something that is not Bitcoin or another cryptocurrency or crypto asset. The fact that you can exchange a small amount of bitcoin for the equivalent amount of dollars does not prove anything.
There are examples of people exchanging their entire hold of hundreds of millions in gold or stocks, without the value of those commodities crashing. Would like
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I read a finance forum, and someone posted there asking how to invest their $50 million of Bitcoin, that they were getting out. Apparently they did sell the bitcoin, reserved some of the proceeds for taxes (they hired a CPA), and used the rest to buy an S&P 500 index fund. The messages and followups seemed realistic. They were detailed enough and went on for long enough, that it seemed like more effort and played more straight than someone posting for laughs.
My brother's friend was really into crypto
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I bought my house with BTC.
Re: It's DeFi! (Score:2)
This guy fucks.
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Bitcoin has no defi features.
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Indeed. Bitcoin and other crapto are not even "finance", so they are even _less_ regulated than DeFi.
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That doesn't make any sense. Crypto (notably Ethereum) started the entire Defi trend. Bitcoin didn't.
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That crapto is money is nothing but a hallucination. It is not.
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You can swap BTC on any DeFi platform. You can also trade it on CEXes and traditional ETFs
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So what? Bitcoin's blockchain isn't the basis for DeFi. It doesn't have the contract capabilities to run a DEX, for example. Ethereum and Solana, however . . .
Well okay, there is rootstock, but it's pretty primitive and is not (to my knowledge) used for any DEX or similar DeFi platform.
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Yep. As soon as more than a few try to sell, it will crash. And even if you sell right now, you will get significantly less than this number. If you find a buyer at all, that is.
Re: It's DeFi! (Score:2)
In this market, you could easily sell thousands of Bitcoin without dropping the price. Buyers are hungry. Just look at market depth charts. This isn't some complicated analysis you're failing at. It's basics of reading a chart. There's currently publicly 1800 Bitcoin depth to $117k. Meaning you could sell almost 2000 without dropping the price below $117k. And that's just the public orders we know about. Nothing's stopping HFT orders from coming in once the sale order is placed.
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BTC daily volume is $50B, so apparently your definition of "a few" is wildly different than mine.
The current administration is propping it up (Score:2, Troll)
So yeah you're going to have a bubble. Nasty one. And pretty soon cryptocurrency will get integrated directly into the economy and Wall Street. You will eventually see the same kind of nasty little finance products that cause to 2008 market crash only backed by imaginary funny money instead of houses.
When that happens the resulting crash is going to make 2008 look like the good times of the
I know nobody believes th
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We have 2,000 people trying to be the first trillionaire in this country. The only way they can do that is by taking your property.
Shit. Man, my property isn't worth anything even CLOSE to $1T.
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Damn dude. Have no absolutely no sense of humor at all?
Re: The current administration is propping it up (Score:2, Troll)
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Holy shit dude. Seek therapy.
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Oh, look, another dude off his rocker who could benefit from a HLI.
Re: The current administration is propping it up (Score:2)
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And Has completely stopped all law enforcement around cryptocurrency.
So yeah you're going to have a bubble. Nasty one. And pretty soon cryptocurrency will get integrated directly into the economy and Wall Street.
This is not some Nostradamus like prediction, it's a mere statement of things already happening. Every larger financial institution of the US has issued Bitcoin ETFs or similar products, you can buy stocks of companies engaging in crypto mining or which just hold cryptos. What you describe as harbinger of a pending catastrophe has already happened and it's clearly not a catastrophe.
You will eventually see the same kind of nasty little finance products that cause to 2008 market crash only backed by imaginary funny money instead of houses.
When that happens the resulting crash is going to make 2008 look like the good times of the .com bubble.
I know nobody believes this but mark my words in 4 years half of you will have lost your houses. Six if you're lucky.
I've been reading crypto currency related comments for many years now on Slashdot, and they all pretty much sound like your com
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Bitcoin does suck, but there's enough demand for a stable money supply that people keep buying it.
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If they're buying BTC for stability, they're not shopping too hard.
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The stability is in the supply, not the price relative to fiat currencies.
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Its usefulness is solely in relation to fiat currency, because you can't buy anything with BTC.
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Ummm
https://map.bitcoin.com/ [bitcoin.com]
https://usethebitcoin.com/bitc... [usethebitcoin.com]
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What you describe as harbinger of a pending catastrophe has already happened and it's clearly not a catastrophe.
You could have said the same thing about subprime mortgages in 2007. Or Enron in 1999. Or the stock market in 1928. Or the...
Everything's fine, until it's not.
Bitcoin a high risk investment, easily replaced (Score:3, Interesting)
Bitcoin is a high risk investment scheme based on the "Greater Fool" theory. That you can always find "a greater fool than you to sell your bitcoins to".
Bitcoin has no network effect. There is near zero cost for users to switch to a different coin.
Bitcoin has no salvage value. Maybe bitcoin miners can sell the heat sinks on their mining gear for scrap metal.
Bitcoin's security
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There is nothing wrong with wanting to invest in Bitcoin, so long as you understand the risk.
Every person who has ever bought Bitcoin in the last 15 years - and didn't sell it - has made a profit, by definition.
Current population probably more panicky ... (Score:2)
There is nothing wrong with wanting to invest in Bitcoin, so long as you understand the risk.
Every person who has ever bought Bitcoin in the last 15 years - and didn't sell it - has made a profit, by definition.
Didn't sell it is a pretty big caveat. Also quite unlikely. More likely, folks have taken their initial investment back, taken some of the profits too, and let the remainder of the profits ride.
Also, while not a pyramid scheme, there is a pyramid effect of sorts. Those newer larger layers of the pyramid of bitcoin owners did not benefit from the above. Technically those old buyers letting it ride are not benefitting either. They just have an easier rationalization for a potential drop in value for their
Re: Bitcoin a high risk investment, easily replace (Score:2)
"Bitcoin has no network effect. There is near zero cost for users to switch to a different coin."
The cost of switching is not relevant. It cost nothing to switch to Google+ either. Or Truth Social.
You don't seem to understand network effects very well.
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"Bitcoin has no network effect. There is near zero cost for users to switch to a different coin."
The cost of switching is not relevant. It cost nothing to switch to Google+ either. Or Truth Social. You don't seem to understand network effects very well.
Actually, you just indicated you do not understand network effect. Google+'s competitors had it, Google+ suffered as a result. The cost is losing the large community. What little utility Bitcoin has, transferring money with fiat currency conversion while doing so is easily replaced. The transfer can take place with etherium, with litecoin, etc. They are all rather interchangeable with respect to what utility there is here.
If investors get nervous about Bitcoin they can sell and move elsewhere. And most w
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Bitcoin is a high risk investment scheme based on the "Greater Fool" theory. That you can always find "a greater fool than you to sell your bitcoins to".
What Bitcoin is right now: a safe haven from the precipitously dropping US Dollar. As it just so happens, S&P 500 also peaked. So has gold. It's not Bitcoin, which goes up and up right now, it's the mighty US Dollar going down. Anyone trading Bitcoin for other credible currencies will be able to confirm that. BTC/EUR hasn't really gone up since last November.
Bitcoin has no network effect. There is near zero cost for users to switch to a different coin.
There is also no such thing as a network effect in other asset classes. You can switch from AAPL to MSFT at near zero cost, you can sell gold for s
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What Bitcoin is right now: a safe haven ...
An asset that periodically drops 75% in value is not a safe haven.
Bitcoin has no network effect. There is near zero cost for users to switch to a different coin.
There is also no such thing as a network effect in other asset classes. You can switch from AAPL to MSFT at near zero cost, ...
That's my point. That block chain will likely be with us in the future but bitcoin is just a block chain user and utterly replaceable. Like the Ford Model T car, just the first widely adopted user of a new technology but itself utterly replaceable to current users.
it's a lot easier to buy and sell Bitcoin than some obscure shit coin.
The problem is that something like Etherium can easily replace Bitcoin and Bitcoin can become one of the shit coins. Users have near zero cost to move.
Bitcoin has no salvage value. Maybe bitcoin miners can sell the heat sinks on their mining gear for scrap metal.
What about US Dollar bills?
Backed by the US gov't. Bitcoi
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Your are confusing mining with running a node. Anyone can run a node without mining.
Only miners update the blockchain. Hence the problem with mining not being available to anyone, not being geographically dispersed, etc.
Money laundering (Score:2)
The problem is that only works if cryptocurrency isn't tightly integrated into the main line economy. That's starting to happen.
Overtime the volume of money laundering will not be enough to prop up that integration and when it goes down it'll be like a rotten scaffolding taking us all with it.
The two big to fail banks will be just fine but you're still going to lose your house. Even if you own it out right you'll mortgage it while you're unemplo
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Money laundering has been what's propped up crypto. The problem is that only works if cryptocurrency isn't tightly integrated into the main line economy.
Integration into the main economy, which hasn't happened, does not end money laundering.
There is no integration into the main economy, all we have is high risk speculation, and a very small amount of money transfers. People are not holding bitcoin, Merchants are not holding bitcoin. Even merchants that theoretically will sell products or services for bitcoin, They use bitcoin payment processors and never see or touch a bitcoin, doing all their business, and accounting, and transactions in fiat.
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Dude it took almost a decade (Score:2)
You're like those numbskulls that drive too close to a semi truck. Not realizing that the damn thing needs a football field to stop.
The economy doesn't stop on a dime. It will take a while for the collapse to hit but it's going to hit like a brick. If you survived 2008 with your finances intact you won't make it through the crypto crash.
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Indeed. You cannot even get to be a billionaire with honest work, no matter how smart and lucky you are. At those heights, it is always done by taking it away from somebody else.
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Everybody who bought Bitcoin and didn't subsequently sell has made a profit. You can't make that statement untrue, no matter how angry you are.
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If they didn't sell, they haven't yet made a profit.
Re: The current administration is propping it up (Score:2)
You don't take it away from people. You exchange goods and services.
In the typical case, you take on risk to invest in a productive product or service. Then you exchange - through intermediaries - that product or service for more money.
Do this well, and you have a $B.
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Not really. Do this without providing adequate value and make people not realize that and you may get there.
The market around the super-rich is fundamentally broken and stops working in that region.
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Drumpt crypto scam (Score:2)
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What you mean it wasn't the Trump watch making him all that money?
All time high (Score:2)
So there will be no better point for selling, if we reached the all time high?
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If the all-time high is reached, selling will become impossible. Remember this is "greater fool" speculation and as soon as the fools run out the price drops to zero. Essentially the whole crapto idea is a complex take on the pyramid scheme.
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I'm sure that they'll find some new ways for people to buy Bitcoin soon, so they can find another path to expand the pool of buyers.
First it was the crypto exchanges, then came the Bitcoin vending machines, and now you can buy Bitcoin ETF's for your brokerage account and IRA.
I'm not sure what's coming next. The ability to buy preloaded Bitcoin wallets at Costco? I mean, why not? You can already buy gold bullion there.
Re: All time high (Score:2)
Not the case. At least not for short time frames like day trading. Commodities like Bitcoin (and gold) don't trade on a fundamental metric. They trade on perceived value. When the perceived value is rising to new all time highs it means sentiment is increasing. Most of the time, this means the all time high will feed into the sentiment, leading to a positive feedback loop.
More complicated analysis is required to determine where the post-ATH new top will be and when it will happen.
Also up... gold and silver... (Score:1)
To me Bitcoin long term is still kind of iffy, but if you want something ELSE to help you escape the traditional monetary system, there is gold and silver which are also up quite a but for the year, even the past year, and moving higher.
You can also get crypto backed by gold or silver as well if you want an electronic form. Just make sure you get a form actually backed by real metals in vaults.
No surprise with USD inflation (Score:2)
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Re: No surprise with USD inflation (Score:2)
True, but it still hasn't hit an all time high again.
On the other hand, Bitcoin IS at an all time high in almost every other currency in the world. The Euro is the outlier here.
Re: No surprise with USD inflation (Score:2)
Misleading. Euro has been gaining value as fast or faster than USD has been losing value.
Look at Yen or Won for a better comparison.
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I'm pretty sure EUR is not worth more than it was worth last year
Re: No surprise with USD inflation (Score:2)
It's up 7% year over year. But more notably, it's up 13% in the last six months.
https://www.tradingview.com/sy... [tradingview.com]
What!?! (Score:2)
But I thought it was about to crash at $70k. And again at $100k. That's what the haters on Slashdot told me...
The Bitcoin chart must be wrong.