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8/16/2022 4:37:09 PM
Posted: 6/13/2022 11:14:27 PM EDT
I started dumping my BTC on the way up past 20K at the end of 2020 and sold it all when it hit 38K.  made myself a tidy profit, Of course I missed the top at 60+ K but i figured it would drop again.

Just did not expect it to happen so abruptly and with everything else seemingly on "sale" at the same time.  I would be buying a hell of a lot more if my deposable cash was not mostly tied up at the moment but after a year and a half of not owning any Crypto I'm back in the game at 20,996 $

25K is my hard price point anything under that I am dumping as much of my paycheck as a can into it

hopefully things can stay down long enough for me to free up some capital and throw some serious cash into Crypto again

also looking at ETH as well, just going to set my arbitrary price point on ETH at a 600.00

just to throw out a magic eight ball guess I figure BTC will be north of 100K within 4 years (summer of 2026)

don't spend more than you can afford to lose! and don't forget to have some fun along the way.
Link Posted: 6/13/2022 11:21:24 PM EDT
[#1]
I got 10$ worth a few months back.l to see what would happen.  I know, short sample size.  But.. I have 3.57$ left after today.  Can you imagine if that 10$ was 10,000$ 100,000$ or more.. sheesh.
Link Posted: 6/14/2022 6:11:28 PM EDT
[#2]
I would worry about the loss of confidence after this nosedive. Once bit, twice shy and everyone knows about it by now including my 80yr old analog dad so the "growing pains" excuse for severe volatility and market trending is wearing a little thin for something that is supposed to be a shelter and hedge in the financial storm.

Having said that it wouldn't hurt to DCA some play cash at it on the way down and treat it like a lotto ticket. It either goes to zero and ends up in the history books next to tulip bulbs or the whales find a way to rescue their golden goose from impending doom and FOMO it to new highs and you get wealthy.
Link Posted: 6/14/2022 10:59:20 PM EDT
[Last Edit: woodsie] [#3]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By HEATSEAKER:
I would worry about the loss of confidence after this nosedive. Once bit, twice shy and everyone knows about it by now including my 80yr old analog dad so the "growing pains" excuse for severe volatility and market trending is wearing a little thin for something that is supposed to be a shelter and hedge in the financial storm.

Having said that it wouldn't hurt to DCA some play cash at it on the way down and treat it like a lotto ticket. It either goes to zero and ends up in the history books next to tulip bulbs or the whales find a way to rescue their golden goose from impending doom and FOMO it to new highs and you get wealthy.
View Quote


Why worry about it when you have historical precedent for it?

Bitcoin has crashed worse than this on at least 3 other occasions so far.  The 2011, 2013, and 2017 bubbles.

You don't think people lost tremendous amounts of confidence after all three of those events?  If you have any doubt go to the archives and search "Bitcoin" for the periods following those bubbles and you'll find all of the same posts that you are seeing today.  There is almost no difference between this time and those times in terms of sentiment and chatter.  

At some point, you'd think there'd be some self awareness from the people posting doom in the same way that there ought to be some self awareness of the Bitcoin permabulls who keep expecting a never ending bull market despite all prior evidence suggesting that just isn't going to happen.  That self awareness will never happen for either group.  They will always just come in and spew their almost decade old now copypasta depending on whether the market is up or down.

The big potential difference this time that I will concede is that Bitcoin has never had to navigate a recession.  It has navigated rising interest rates, and even boomed while rates were being raised under Trump but a recession would be new one.  
Link Posted: 6/14/2022 11:04:53 PM EDT
[#4]
Originally Posted By InsaneRusher:
I started dumping my BTC on the way up past 20K at the end of 2020 and sold it all when it hit 38K.  made myself a tidy profit, Of course I missed the top at 60+ K but i figured it would drop again.

Just did not expect it to happen so abruptly and with everything else seemingly on "sale" at the same time.  I would be buying a hell of a lot more if my deposable cash was not mostly tied up at the moment but after a year and a half of not owning any Crypto I'm back in the game at 20,996 $

25K is my hard price point anything under that I am dumping as much of my paycheck as a can into it

hopefully things can stay down long enough for me to free up some capital and throw some serious cash into Crypto again

also looking at ETH as well, just going to set my arbitrary price point on ETH at a 600.00

just to throw out a magic eight ball guess I figure BTC will be north of 100K within 4 years (summer of 2026)


don't spend more than you can afford to lose! and don't forget to have some fun along the way.
View Quote


There's really two big things to look for:

1)  The end of monetary tightening...which is of course hard to imagine as we are just getting into it but it'd be silly to conclude we've entered a paradigm shift and both monetary and fiscal policy will be responsible from here on out.  You ought to know our government better than that.  As soon as they can get inflation under control they'll go back to their old ways.

2)  The halvening event in 2024.

The former is anyone's guess and the latter is a more or less set date on the calendar but I wouldn't bet against a $100k Bitcoin by Summer of 2026.  
Link Posted: 6/14/2022 11:14:58 PM EDT
[#5]
I think we have a decent chance of seeing $12k btc on the next few months.
Link Posted: 6/14/2022 11:18:15 PM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By jaqufrost:
I think we have a decent chance of seeing $12k btc on the next few months.
View Quote


That and a livestream of Michael Saylor jumping off a tall building.
Link Posted: 6/14/2022 11:41:54 PM EDT
[Last Edit: Colo303] [#7]
$0. The amount it is was worth for most of history.
Link Posted: 6/16/2022 9:40:21 AM EDT
[#8]
I think the NFT thing will be an early indicator. Once everyone figures out that giggly enthusiasm doesn't create a perpetual market of ever-increasing demand for non-productive assets, the NFT market goes to zero. A few minutes later, people will start asking what's the real difference between NFT and cryptocurrency. I probably watch and read too much Warren Buffet and Charlie Munger, though. I'm sure the crypto-bros are right to be optimistic.
Link Posted: 6/16/2022 10:01:51 AM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By FlockaCGulz:
I think the NFT thing will be an early indicator. Once everyone figures out that giggly enthusiasm doesn't create a perpetual market of ever-increasing demand for non-productive assets, the NFT market goes to zero. A few minutes later, people will start asking what's the real difference between NFT and cryptocurrency. I probably watch and read too much Warren Buffet and Charlie Munger, though. I'm sure the crypto-bros are right to be optimistic.
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have you seen how much the market is for gaming and in game purchases?
That is going to be the first real use case for NFTs in my opinion.
Link Posted: 6/16/2022 10:03:03 AM EDT
[#10]
Zero, the answer is zero
Link Posted: 6/16/2022 10:11:10 AM EDT
[#11]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By NostalgiaforInfinity:

have you seen how much the market is for gaming and in game purchases?
That is going to be the first real use case for NFTs in my opinion.
View Quote


I agree with you that they've tapped into a hungry market with lots of interest. On the gaming side especially, there is some intrinsic entertainment/social value. I will not be using any of that as an investment vehicle, though.
Link Posted: 6/30/2022 5:44:55 AM EDT
[#12]
Why did you do that? Yes, the situation right now is sad. Bitcoin is down 46.64% from its record high above $69,000. While there has been a slight recovery, no concrete upward momentum has been detected. But you have to be able to wait. There are always crisis moments, and you just have to endure them. Just imagine if the value of this coin starts going up again. Now you need to buy it up to make money on sales later. You can learn more about forex trading margins and increase your budget manifold. Have patience, and don't be in a hurry to give away your coins on the cheap.
Link Posted: 6/30/2022 8:54:30 AM EDT
[#13]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By jaqufrost:
I think we have a decent chance of seeing $12k btc on the next few months.
View Quote
I'm dollar cost averaging a little bit of BTC every pay period. It could go to zero, and it could go over $100k. No one actually knows.
Link Posted: 6/30/2022 6:12:53 PM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By vilhelminapetrov:
Why did you do that? Yes, the situation right now is sad. Bitcoin is down 46.64% from its record high above $69,000. While there has been a slight recovery, no concrete upward momentum has been detected. But you have to be able to wait. There are always crisis moments, and you just have to endure them. Just imagine if the value of this coin starts going up again. Now you need to buy it up to make money on sales later. You can learn more about forex trading margins and increase your budget manifold. Have patience, and don't be in a hurry to give away your coins on the cheap.
View Quote


Attachment Attached File
Link Posted: 7/2/2022 10:47:59 AM EDT
[#15]
My prediction which is as unreliable as any other prediction is BTC below 5K this year and ETH below 100.
Link Posted: 7/3/2022 9:04:21 PM EDT
[#16]
$19,300...

Link Posted: 7/5/2022 12:31:33 PM EDT
[#17]
i wouldnt touch it, its nothing but speculative which is getting reamed in this correction
Link Posted: 7/5/2022 1:01:33 PM EDT
[#18]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By hicap:
i wouldnt touch it, its nothing but speculative which is getting reamed in this correction
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Post bubble burst has always been the best time to buy Bitcoin.  I'd like to say I was good, but more likely I was lucky to be able to buy the bottom in 2015 and 2019.

Now if there is some long term defect that will prevent it from recovering the way it has the 3 times it bubbled and burst prior in 2011, 2013, and 2017, then that's a legitimate position to take.  

This is my third Bitcoin bubble personally and most of the things going on are pretty much the same as the last two times.  The despair, the collapse of crypto ponzi schemes, the alt coin massacres, the analogies to Tulips...been there done that twice before already.  The one big difference I'll grant is the macro environment is different today than any prior time in the last 12 years of Bitcoin's history.

But I also believe the Fed won't stay hawkish forever, let alone more than a year or two.  Does anyone honestly expect that the Fed won't be right back to their old play book as soon as inflation is under control?  It worked so well for so long that I don't expect them to bail on it for the long run thus Bitcoin is still a good bet for the next decade IMHO.

Link Posted: 7/5/2022 1:04:54 PM EDT
[#19]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Sorry_Your_Girl_Lost:
I got 10$ worth a few months back.l to see what would happen.  I know, short sample size.  But.. I have 3.57$ left after today.  Can you imagine if that 10$ was 10,000$ 100,000$ or more.. sheesh.
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Yep.

I spent $4,000 on a mix of Bitcoin, Etherium and Cardano.  My total crypto net worth is currently about $1,300.   My plan is to hold it until December, hoping it will go up by then.  If not, dump it for the tax loss as I had some income I need to offset.
Link Posted: 7/5/2022 1:09:08 PM EDT
[#20]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By woodsie:
SNIP

But I also believe the Fed won't stay hawkish forever, let alone more than a year or two.  Does anyone honestly expect that the Fed won't be right back to their old play book as soon as inflation is under control?  It worked so well for so long that I don't expect them to bail on it for the long run thus Bitcoin is still a good bet for the next decade IMHO.
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100% this.
Link Posted: 7/5/2022 9:19:58 PM EDT
[#21]
I use Voyager for my crypto trading

They have frozen everything.
I can not buy, sell, make deposits or with draws from my account.





Link Posted: 7/6/2022 8:05:18 AM EDT
[#22]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By G_S:

I use Voyager for my crypto trading

They have frozen everything.
I can not buy, sell, make deposits or with draws from my account.





View Quote


that got to suck, and I feel for you.  I have been there and done that a time or two in the last decade, learned the hard way to never keep any significant assets on an exchange and I have avoided this loan/staking systems for similar reasons.  

Hopefully you can recover something in time


Link Posted: 7/6/2022 2:09:32 PM EDT
[#23]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By InsaneRusher:


that got to suck, and I feel for you.  I have been there and done that a time or two in the last decade, learned the hard way to never keep any significant assets on an exchange and I have avoided this loan/staking systems for similar reasons.  

Hopefully you can recover something in time

View Quote View All Quotes
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By InsaneRusher:
Originally Posted By G_S:

I use Voyager for my crypto trading

They have frozen everything.
I can not buy, sell, make deposits or with draws from my account.







that got to suck, and I feel for you.  I have been there and done that a time or two in the last decade, learned the hard way to never keep any significant assets on an exchange and I have avoided this loan/staking systems for similar reasons.  

Hopefully you can recover something in time



That is ultimately the best you can do.  Another thing I always did when looking for a crypto institution was to do as much research as I could into where these companies are based, who runs them, who is invested in them, what if any kind of leverage their business relies on.

I dodged both Mt. Gox in 2013 and Celsius more recently by applying that sniff test.

It's not perfect but it helps.
Link Posted: 8/2/2022 8:49:10 PM EDT
[#24]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By G_S:

I use Voyager for my crypto trading

They have frozen everything.
I can not buy, sell, make deposits or with draws from my account.





View Quote
You saw they filed for bankrupcy, right? Basically all crypto is gone. I lost a lot too
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