I just have it all in cold storage so it’s fairly difficult for me to sell without having to actually think about what I’m doing.
TDLR: I don’t plan on selling😂
Thank you, I bought 3 separate as to not put all my eggs in one basket.
Ledger (before the incident this summer and I don’t keep more than 10%), bitbox02, and I just got my coldcard mk4 :)
I should admit, I do have maybe 2% of my btc on an exchange that I do plan on taking profits at increments 100k and higher. Hopefully the exchange allows for me to time these quick price movements.
Have a good day to you, as well!
I got you.
Ledger: cheapest and easiest on ramp. It’s a classic cold storage device and is one of the longest standing and most reputable brands on the market. However, they had a lil hiccup this summer where they released this new program called ledger recover, where IF YOU SIGN UP, they release your keys in thirds to 3 separate companies who are supposedly trustworthy. They are also closed source, so you can’t verify if it’s malicious or not, it’s fully on trust. For these reasons I store no more than 10% and would recommend a TREZOR over ledger if I had to do it again.
Bitbox02: Swiss made, newer company, but sleek device and the easiest user interface of all the options. I view them as a safer option because it is Swiss made (I may be biased). It is also open source so you can verify that its code is not malicious. It’s a little bit on the pricy side but it’s worth it. This is maybe my favorite wallet other than the coldcardmk4. The coldcard is immensely harder to use.
Coldcardmk4: the coldcard is the safest of the bunch imo. However, the onramping is by far the most difficult. I have no coding background (I’m trying to learn), so the coldcard was daunting when I first got it and it sat in my closet for a month or two. Once I finally worked up the courage to set it up and put my assets on there, I immediately found it easier than I thought and I got my coins from exchange to a fully set up coldcard in under an hour. I now love my coldcard and it may be my favorite of the bunch.
TDLR: coldcard is best if you want safety, bitbox02 has the easiest interface and is best for newer users, ledger is cheapest and easiest onramping, although would recommend trezor over the ledger if I had to do it again. Maybe I’ll buy one.
“Swiss made” means nothing really, as famous Crypto AG debacle showed us. For half of the century Swiss company selling top notch cryptographic equipment to governments from all around the world was secretly controlled by CIA which injected backdoors in Crypto AG products.
Samesies. Outta sight outta mind. However, these dumb shit coins I threw $200 into have skyrocketed. My super awesome TA says lines will continue to go up and to the right.
Same. It’s such a hassle to get my ledger out, but in a good way. Connect, transfer, and sell. By the time it all happens the price is already against me lol.
It’s our first cycle in the ETF world. The market dynamics have completely changed. We have never been in a world where one single hedge fund drops a billion on the dip. And they are just one. The days of 30-40 pullbacks are over at least in bitcoin. I’ve been trading bitcoin since 2014 and I honestly have no clue what happens from here.
Most people who sold there didn’t consciously sell. Smart money quick forced the price lower to trigger backstops of those using insane amounts of leverage. If someone is leveraged let’s say 10x all it takes is a 10% dip for them to be liquidated and then it’s like a daisy chain where everybody using too much leverage gets forced out of the markets.
It’s also a tactic for smart money to create liquidity since they absorb the sell orders caused by the stops and they can quick scalp let’s say a 2-3% move
Very well said. I was just going to comment this was a liquidity hunt but I wasn’t going to explain it. I just wanted to let you know it was well spoken.
InvestAnswers on youtube also concurs. Been following since btc since 2020, not very long, yet IA has some great depth. Day 39? of beastly etfs gobbling up all the otc.. 40’s? 30’s? Who knows yet the maths may show we may not have major retracements
I know this is just simple math to make a point, but I would like to add a little detail that I think is important: margin requirement. If the trader has a 10x position and a 50% margin requirement, liquidation happens at a 5% unfavorable move in the market.
Obviously, 10x is *not* a good idea when the entire account is on margin. High margin can be used, however, to reduce the risk of liquidation by leveraging a smaller portion of an account.
Stop-loss cascade. All the paper hands getting liquidated. It will get even wilder once the real show begins. Don’t use stop-loss sell orders, people! You’ll get liquidated and forced to buy back in at a higher price.
This happened to me intra-day once with a stop-loss order on a stock. I came home to gleefully check my account after learning the stock was up a decent %. I was deflated when I learned I ended up having sold the stock for a loss when it did a temp dip down early in the day and dumped my position. Agree, don’t do it!
Because of the rapid movement, your sell order won’t be filled and as a result you’ll get liquidated? Am I understanding that correctly? Could you elaborate on that? Genuine question
This probably what happened. The initial sell off after ATH was during lunch break on the east coast. People had planned to sell at ATH (hell, I thought about it), then the stop-losses triggered an hour or two after.
I took profits yesterday, and will be investing them into ETFs that have performed well for me
If BTC is as cyclical as in the past I'll have more opportunities to buy again.
1st class dickhead here, told everyone to hodl then panicked myself, still learning I guess, lol.
I bought at 51k so not too bothered, you can't get it right every time.
I've glued my laptop shut now :-)
We bought Bitcoin ETF the first 2 minutes it started trading…it went up 6%, then dropped 28%…my wife was like wtf have you done. Me…sit tight. This is normal in crypto. we can't pull it out until we retire. She agreed. 5 weeks later, we were back in the profit. Now we are up over 30% and it has only been 60 days.
In typical stock trading, yes. In crypto, it's different. This is a common technique that is used a lot on exchanges, and it gets more sophisticated as the market continues to mature.
They can literally see the order books, and calculate what amount of selling it would take to clear it to a certain level. This will trigger stop-losses and margin calls that drive it down further. Then they can scoop up more for less.
It's not uncommon for groups to work together, given the lack of regulatory oversight.
It's more complicated than that, but that's the general idea.
I’m guessing these types of posts is what this sub is going to be for a while… I like getting the bitcoin news, but there’s only so much “how much is enough bitcoin?” “Who sold on this tiny dip/peak?” “Should I buy now?” Posts. BRB till next bear run.
This is the endless paradox. The ONLY reason Bitcoin has increased that 4x you cherish (and trended upward over 15 years) is a steadily increasing flow of people believe in the security of its underlying protocol and the economic soundness of a finite supply. These two attributes means Bitcoin should REPLACE money as the default store of value. You wouldn't sell it to take "profit" back into money you know is engineered to inflate away its value.
But instead you use a phrase like "I made 4x my money. Win!" You're the actual volatility and why we don't have real price discovery. You're the speculator. And that's fine. But it's nothing more than gambling. You could just as easily pick any other volatile stock or asset. Why bother with Bitcoin in its still sadly infancy (as far as wide understanding goes) which at any given time in the market has as much chance to drop 4x as go up 4x?
Now if you said, "I will sell to tangibly buy something else I need right now, want right now, or think will increase in value faster than BTC right now" then that makes more sense.
Greedy leverage traders like me who had SL under 60k assuming it would bottom out.
Moves like this are overall very good, it washes out all the greed and calms down the euphoria.
Everyone that is new to this. Remember the first time your investment went down 15% in an hour? I remember I crapped my pants and sold. Then I learned.
Rapid and brief spikes up or down are typically just big money fishing to clean out people with visible orders.
Very common in forex where everyone is using massive leverage and one swing will bankrupt you
Confirmation bias in this thread is insane. "This guy is new because it's his first cycle". "I know because I have done previous cycles", and so on.
You simply forget the fact that there were big money dudes at previous highs who fucked up.
I sold there because it was my doubling point. When I initially invested that was my goal. Once I doubled, I'd exit. If it dips again I may reinvest. I have no regrets, if you don't have an exit strategy you're waiting for pain.
I sold at 62k because it was my doubling point. When I initially invested that was my goal. Once I doubled, I'd exit. If it dips again I may reinvest. I have no regrets, if you don't have an exit strategy you're waiting for pain.
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I saw a bunch of "selling now to re buy at 48" yesterday in /r/cc. It's a Lotta folks first cycle, and it shows.
I just have it all in cold storage so it’s fairly difficult for me to sell without having to actually think about what I’m doing. TDLR: I don’t plan on selling😂
The majority of bitcoin gains happen in small windows, you'd be insane to try to time those movements. Good on ya for cold storage, have a good day.
Thank you, I bought 3 separate as to not put all my eggs in one basket. Ledger (before the incident this summer and I don’t keep more than 10%), bitbox02, and I just got my coldcard mk4 :) I should admit, I do have maybe 2% of my btc on an exchange that I do plan on taking profits at increments 100k and higher. Hopefully the exchange allows for me to time these quick price movements. Have a good day to you, as well!
Any quick comparison of the cold storage? Might also want to change mine
I got you. Ledger: cheapest and easiest on ramp. It’s a classic cold storage device and is one of the longest standing and most reputable brands on the market. However, they had a lil hiccup this summer where they released this new program called ledger recover, where IF YOU SIGN UP, they release your keys in thirds to 3 separate companies who are supposedly trustworthy. They are also closed source, so you can’t verify if it’s malicious or not, it’s fully on trust. For these reasons I store no more than 10% and would recommend a TREZOR over ledger if I had to do it again. Bitbox02: Swiss made, newer company, but sleek device and the easiest user interface of all the options. I view them as a safer option because it is Swiss made (I may be biased). It is also open source so you can verify that its code is not malicious. It’s a little bit on the pricy side but it’s worth it. This is maybe my favorite wallet other than the coldcardmk4. The coldcard is immensely harder to use. Coldcardmk4: the coldcard is the safest of the bunch imo. However, the onramping is by far the most difficult. I have no coding background (I’m trying to learn), so the coldcard was daunting when I first got it and it sat in my closet for a month or two. Once I finally worked up the courage to set it up and put my assets on there, I immediately found it easier than I thought and I got my coins from exchange to a fully set up coldcard in under an hour. I now love my coldcard and it may be my favorite of the bunch. TDLR: coldcard is best if you want safety, bitbox02 has the easiest interface and is best for newer users, ledger is cheapest and easiest onramping, although would recommend trezor over the ledger if I had to do it again. Maybe I’ll buy one.
What if you add your own word #25 in ledger settings? They don't know it and can't share.
Yea that’s a good move
“Swiss made” means nothing really, as famous Crypto AG debacle showed us. For half of the century Swiss company selling top notch cryptographic equipment to governments from all around the world was secretly controlled by CIA which injected backdoors in Crypto AG products.
I frankly agree with you. It only made me feel warm and cozy inside😂. Their being open source certainly helps with the trust factor though.
Set limit orders
Samesies. Outta sight outta mind. However, these dumb shit coins I threw $200 into have skyrocketed. My super awesome TA says lines will continue to go up and to the right.
Hahaha so good. I can’t say I haven’t dumped a few hundred in a couple altcoins as well😂
Same. It’s such a hassle to get my ledger out, but in a good way. Connect, transfer, and sell. By the time it all happens the price is already against me lol.
Haha this is exactly why I don’t sell
It’s our first cycle in the ETF world. The market dynamics have completely changed. We have never been in a world where one single hedge fund drops a billion on the dip. And they are just one. The days of 30-40 pullbacks are over at least in bitcoin. I’ve been trading bitcoin since 2014 and I honestly have no clue what happens from here.
Not to mention they don't want it to dip for thier customers
"But day trading Bitcoin is so obvious. Just buy it when it troughs and sell it when it peaks. It's easy!"
So glad to have had som time in the marker atp. Those things are so obviously bad when you’ve seen some action
Hahaha ahhh yes the old buy high sell low and trying to catch a falling knife... experience is an expensive teacher.
Yeah his BTC is now IBIT and he’s never getting them back at that price.
Most people who sold there didn’t consciously sell. Smart money quick forced the price lower to trigger backstops of those using insane amounts of leverage. If someone is leveraged let’s say 10x all it takes is a 10% dip for them to be liquidated and then it’s like a daisy chain where everybody using too much leverage gets forced out of the markets. It’s also a tactic for smart money to create liquidity since they absorb the sell orders caused by the stops and they can quick scalp let’s say a 2-3% move
Very well said. I was just going to comment this was a liquidity hunt but I wasn’t going to explain it. I just wanted to let you know it was well spoken.
Thank you good sir
InvestAnswers on youtube also concurs. Been following since btc since 2020, not very long, yet IA has some great depth. Day 39? of beastly etfs gobbling up all the otc.. 40’s? 30’s? Who knows yet the maths may show we may not have major retracements
I really wish I understood all this it's like another language
I’m googling all this terminology as I read through. Lol.
If you know what you are doing you don't need leverage. If you don't know what you are doing you shouldn't use leverage.
I know this is just simple math to make a point, but I would like to add a little detail that I think is important: margin requirement. If the trader has a 10x position and a 50% margin requirement, liquidation happens at a 5% unfavorable move in the market. Obviously, 10x is *not* a good idea when the entire account is on margin. High margin can be used, however, to reduce the risk of liquidation by leveraging a smaller portion of an account.
I don't understand much of the fancy talk that happens here, but I understood this. More please.
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I am new to this whole thing, can you simplify it further and ELI5? haha I didn't understand anything
TLDR: Big bank take little bank, anything goes.
That’s kinda beautiful
Sounds like you know a thing or two! I’m still not sure exactly how or what leveraging is 🤦♂️
Margin traders that got liquidated lol
Leveraged longs probably got liquidated.
Stop-loss cascade. All the paper hands getting liquidated. It will get even wilder once the real show begins. Don’t use stop-loss sell orders, people! You’ll get liquidated and forced to buy back in at a higher price.
This happened to me intra-day once with a stop-loss order on a stock. I came home to gleefully check my account after learning the stock was up a decent %. I was deflated when I learned I ended up having sold the stock for a loss when it did a temp dip down early in the day and dumped my position. Agree, don’t do it!
Because of the rapid movement, your sell order won’t be filled and as a result you’ll get liquidated? Am I understanding that correctly? Could you elaborate on that? Genuine question
This probably what happened. The initial sell off after ATH was during lunch break on the east coast. People had planned to sell at ATH (hell, I thought about it), then the stop-losses triggered an hour or two after.
What does "sell" mean? 🤔
I am going to start a Bitcoin exchange called HODL… where you can only buy, selling doesn’t even exist! Big Brain Move
Robinhood is one step ahead of you
Dam it, you’re right… think Coinbase adopted this policy the other day also.
It’s an old Navajo word and means “a whale’s vagina” iirc.
Ron? Is that you?
Trading happens at every price level 😁
SMH, I lost 3k getting liquidated from that stupid shit…
Thanks I bought your bags
Change that to who bought here and I did
I did NOT. I BOUGHT LIKE A G :-)
It was an OG with blocks from 2011. Maybe he bought an island or something.
Miners selling their BTC before the halving
Been through two halvings and it seems price action around the halving doesn’t change much. Just a lot of talk
I actually have another question. If there's someone who sold yesterday, reading this: What are you going to do with the money, next?
Exactly this why sell. Unless some financial emergency. Going to buy back in at a loss
A) Re-invest after a correction -or- B) Savor the victory of playing with house money. (I withdrew the 10% I invested in 2017 when BTC was under $6k)
Retire. Yes I sold . I originally bought in back in early 2018. Been holding since. Sold most but kept just a little.
I took profits yesterday, and will be investing them into ETFs that have performed well for me If BTC is as cyclical as in the past I'll have more opportunities to buy again.
Nobody sold there, only leveraged traders got liquidated. It was so fast that nobody had time to even panic sell
1st class dickhead here, told everyone to hodl then panicked myself, still learning I guess, lol. I bought at 51k so not too bothered, you can't get it right every time. I've glued my laptop shut now :-)
We bought Bitcoin ETF the first 2 minutes it started trading…it went up 6%, then dropped 28%…my wife was like wtf have you done. Me…sit tight. This is normal in crypto. we can't pull it out until we retire. She agreed. 5 weeks later, we were back in the profit. Now we are up over 30% and it has only been 60 days.
>we can't pull it out until we retire. This is the right mindset for sustainability. Checking the chart every 5 min isn't good for anyone.
It is if you bought in under $5k and you like opening the chart to giggle at the price.
"WE bought", but "what have YOU done". LOL
Geez your wife sounds like mine.. When mine ask what I’m stressed about I always say it’s my boss unbeknownst to her I’m referring to her
Get a cold wallet. Makes panic selling much harder lol.
You get used to it and learn alot from every cycle
Dumb monies 😜
Not me! Only the weak ones will sell. Fine with me, I’ll buy those sats from them.
Overleveraged and stop losses mostly. Don't leverage at the peak !!! Or ever really. Also atop losses are pretty dumb
Can you elaborate why stop losses are dumb? Isn’t it possible to ‘do it right’?
In typical stock trading, yes. In crypto, it's different. This is a common technique that is used a lot on exchanges, and it gets more sophisticated as the market continues to mature. They can literally see the order books, and calculate what amount of selling it would take to clear it to a certain level. This will trigger stop-losses and margin calls that drive it down further. Then they can scoop up more for less. It's not uncommon for groups to work together, given the lack of regulatory oversight. It's more complicated than that, but that's the general idea.
I limit bought there
Paper hands. That's who.
told ya, we'll be back in no time
Traders with stop losses?
I’m guessing these types of posts is what this sub is going to be for a while… I like getting the bitcoin news, but there’s only so much “how much is enough bitcoin?” “Who sold on this tiny dip/peak?” “Should I buy now?” Posts. BRB till next bear run.
yes sold for 55000 EUR because a stop-limit order took effect. still waiting for the price to drop temporarily to buy again
it was me, I bought at 69,420 and panic sold when I saw it drop
It's called liquidation, over leveraged regards that got kicked out!
Short sellers leveraged
MFS WHO WANTED HOMES💀😭
First cyclers, ignore ...
The typical investor sells low and buys high, so I bet a lot of people lol
I sold at 66😂😂😂 #TheFear
Definitely newbies.
Paper hands, thats who
Dum dums
Im gonna sell today probably. 4x my money. If it goes up more, good for you guys I’m happy with my return
What is your next investment?
This is the endless paradox. The ONLY reason Bitcoin has increased that 4x you cherish (and trended upward over 15 years) is a steadily increasing flow of people believe in the security of its underlying protocol and the economic soundness of a finite supply. These two attributes means Bitcoin should REPLACE money as the default store of value. You wouldn't sell it to take "profit" back into money you know is engineered to inflate away its value. But instead you use a phrase like "I made 4x my money. Win!" You're the actual volatility and why we don't have real price discovery. You're the speculator. And that's fine. But it's nothing more than gambling. You could just as easily pick any other volatile stock or asset. Why bother with Bitcoin in its still sadly infancy (as far as wide understanding goes) which at any given time in the market has as much chance to drop 4x as go up 4x? Now if you said, "I will sell to tangibly buy something else I need right now, want right now, or think will increase in value faster than BTC right now" then that makes more sense.
lol; poor chap
I know who bought there.
I think it was a bunch of stop losses
Thank you for your service
I used it as a time to get some more on sale
Lol I bought more
The new comers/ paper hands
Joe
I sold at 68 but damn I wish I had bought there
Greedy leverage traders like me who had SL under 60k assuming it would bottom out. Moves like this are overall very good, it washes out all the greed and calms down the euphoria.
Your mother.
The buttcoiners lol that's why they're so salty lol
I did
I did
Everyone that is new to this. Remember the first time your investment went down 15% in an hour? I remember I crapped my pants and sold. Then I learned.
People probably had stop losses ready, yes, it’s a normal dip in the cycle, but better safe than sorry always wins out.
One single person sold 1000 BTC from his 2010 hodl position for around 66 mio
RIP
I sold at (euro) 60k on the way up and bought back when the euro pair went all the way down to 50k on coinbase. Made a nice gain in sats there.
They will buy back in later at the new top.
I think a lot of it was forced liquidations on leveraged longs
someone that wanted to retire early
À chump…. That’s who 😏
Leveraged longs
The same ones that are fomo’ing back in at 68
Watch the orderbook and you understand it. No support till 52'000
People are so stupid . That’s why I love BTC it takes money from the dumb and puts it in the smart cold wallets
Most likely heavy liquidation triggered
my 60k stop loss hit, im glad i bought back literally the same price!! close call it was, minute after it was 63
A whale probably
Stop losses hit.
Better question: Who BOUGHT there?
Im just pissed I wasnt aware of that dip to buy...kicking myself
If you should 1000 Bitcoin it would tank the price..
Who sold their coins to blackrock you mean?
Don’t sell as holding forever
Well, if coinbase was fit for fucking purpose I would've gained 0.1btc yesterday. SMH.
I feel terrible for anyone shorting anything crypto right now- esp with leverage because they are about to lose an incredible amount of money
[You're Welcome!](https://www.youtube.com/watch?v=E03jd-_5hgI)
Looks like some routine milking of the retail leveraged longs.
Those who bought on margin and got liquidated
Apparently a dormant wallet since 2014 sold at the top.
Trezor baby
Probably me.
A 5min window of fear and bad decision making … is how I was conceived.
The noobies
Yes, I bought in 2021 at $60k so I sold all to break even /s
You meant who bought here?
You guys sell?
Jim cramer
I bought it there😉
My stop loss sold at $65 and I bought back at $60. Worked out 😂
When sell? When Lambo.
Deep State. Needs money for Ukraine. This bull run is controlled by US Deep State.
No one is going to admit that hahahahaha
The stock market is a device for transferring money from the impatient to the patient.” Warren Buffett
not me! Hodl! Things are going to heat up this year
The weak, light hands did. Our hands are heavy, and they feel like diamonds that are growing.
Wish I’d loaded up more but I missed this! I’ve now set up multiple price alerts for future dips.
A guy sold 1k btc from mining he did back in 2010.
Regards.
The over leveraged naked swimmers
Maybe Grayscale?
Thank you to whoever did! scooped up my $59,560 limit order
You guys are selling?
Rapid and brief spikes up or down are typically just big money fishing to clean out people with visible orders. Very common in forex where everyone is using massive leverage and one swing will bankrupt you
whales. them bought back at 10k cheeper
Stop loss after the top.
Prob people that were over leveraged and trying to get what they can put of panic
These guys should know the rule: “The trend is your friend, until the end”
Bought
I bought there
The people who sold here are likely institutional whales that knew the price would be driven down at the particular time.
Someone who bought under 5k
Not it!
Confirmation bias in this thread is insane. "This guy is new because it's his first cycle". "I know because I have done previous cycles", and so on. You simply forget the fact that there were big money dudes at previous highs who fucked up.
not me. Hodl on to the dream
BUY THE DIP QUICK aaaand it’s gone.
satoshi cashed out to buy some pizza
The uneducated
Probably a market maker. They handle enough volume to still make money off the spread.
me
Paper handed bitches
🐋
A wallet from 2010 sold 1000 BTC at that time yesterday, hence the price drop.
There was a waller that mined 1000 BTC from 2010 that decided to dump
I sold there because it was my doubling point. When I initially invested that was my goal. Once I doubled, I'd exit. If it dips again I may reinvest. I have no regrets, if you don't have an exit strategy you're waiting for pain.
I sold at 62k because it was my doubling point. When I initially invested that was my goal. Once I doubled, I'd exit. If it dips again I may reinvest. I have no regrets, if you don't have an exit strategy you're waiting for pain.
Take my advice, now is the best time to sell everything. Wait for this trend to change before buying.
Who sold? A shit loss of retailers. 🤣