How long do you think Bitcoin’s current pump will last? \ stacker news ~bitcoin

How long do you think Bitcoin’s pump will last?

The devastation of three crypto-linked banks (Silicon Valley Bank, Signature Bank & Silvergate Bank) has nothing on Bitcoin. Indeed, the blue chip of crypto is growing from strength to strength these days. People were pleasantly surprised when it held above $25k. Now, they are exhilarated that Bitcoin has surged past $28k as they seriously contemplate whether this increase represents a bull trap or a bull run. Economist Alex Kruger even tweeted “Long Bitcoin, short the bankers”.

Reasons that could explain the rise in Bitcoin include investors realising that it might not be the best idea to park their money in stablecoins - given USDC’s woes - and swapping them for Bitcoin, Binance converting its crypto industry recovery fund from BUSD to Bitcoin, and even traditional markets expecting interest rate hikes to be lower. Of course, no one knows exactly but it’s fun to speculate the likely reasons.

Similarly, do you think Bitcoin’s current pump will be short-lived, as adrenaline-pumping it may be? And that we will witness prices below $20k again sooner rather than later? Or are you of the opinion that it has broken past the resistance level and will henceforth start crabbing at say, $24-25k?

10 sats \ 0 replies \ @Darkbulb 22 Mar 2023

Dont matter, still buying

0 sats \ 0 replies \ @TheBTCManual 22 Mar 2023

I think it will be short lived if we don't continue to see banks falling over and the fed continue to raise, they wouldn't want "risk assets" to take off, if bitcoin rallys so does stonks and you're not going to have a good time fightning inflation of the wealth effect comes back to the stonk market.

i'll just keep buying and keep something on the side for a dip I hope might come lol

0 sats \ 0 replies \ @kenn_b 22 Mar 2023

Until it runs out of hands to pump it.

0 sats \ 0 replies \ @BitByBit21 22 Mar 2023

It's nice to see that bitcoin pumps while the banking system collapses. Hopefully people will realize someday its actual value. But I'm always ready to ride it to 0k or 100k because of the fiat system distortion. Just hodl, don't try to time the market.