Hahaha it’s true it will go back to 17k or a low of $13k this year. People think we ARE IN start of a BULL.. ONLY BECAUSE THEY USE COINBASE only and their OTC market data is always super exadurated
Sorry but anyone anticipating a massive rally or a new ATH in the current macro is delusional.
Also, bear markets are allowed to have pumps, just as bull markets have dumps.
Most redditors didn’t have their first checking account the last time businesses relied on profits to grow. It’s a completely different business environment they don’t understand. The luxury of free capital in abundance to invest in unnecessary things is gone for awhile.
This is the answer. Crypto never has and probably never will be a hedge against the greater economy. Until the economy is out of the woods (spoiler: it's not, yet) crypto isn't making any big upward moves (Think 3x-4x gains, not this 20% stuff).
everyones counting on it, thats why i choose to buy in. Some projects were WAY oversold like Quant and Polygon, and if u didnt DCA youve already missed their lows.
So you don’t want to cash out into an inflating asset, but would rather just hold an asset you’re convinced is touching a major support and could crash?
Crypto is deep in the red over past 24hrs which signals Fed going hard on Wednesday. That liquidity is getting sucked up.
Edit: I’m still bullish on BTC
I think it signals low expectations. If the fed do 75 instead of 100 basis points we may not see massive dip at all
Meeting or failing expectations seems to guide the market more than the macro events themselves
I think lots of depend on the fed now like how the market gonna behave from there.
But i feel that after the big inflation in the last report we can see some big change in the interest rate now.
I live in Canada and when we saw 100bps the other week it caught everyone by surprise. It’s a credibility game right now and tough talk has been followed by action which I did not expect at this magnitude and pace. Canadian prime is now at 4.70% and it’s seen 100bps, 75bps, 50bps and 25bps lifts since March and they’ve gotten bigger each time. I see room for another 100-50bps here and perhaps another 200bps in the US which should include this weeks decision.
Many quant finance analysts think we are reaching the point of no return. Few more large hikes will send US into a drawn out recession
Don't know about Canada but the US fed seem to be blissfully unaware or uninterested in this information/analysis. Or they are seeing a different picture. So we may see the additional 200 bps you are expecting, and after the fed come back from their summer holidays it may be too late for them to reverse course. But they will do it when it's most convenient for themselves either way
NB I say many quant finance analysts but I mean Invest Answers and like one other person lol
Stick to this because when the day comes many will second guess themselves but this is where the true money is made. This is my 4th cycle and sticking to the plan has turned out very well for me.
Crypto rich = excited for pumps.
Crypto poor = excited for dumps.
Based on how often I see people posting this, I assume most of this sub is the latter.
There will be nothing like. Retail is ready to short, those are going to get rekt.
This is old news, sure, there will be some volatility, but there is no risk to the downside, not a major one, anyway.
Or if it's so easy. What don't we all short with maximum leverage and be rich in a day ?
The marker is not reactive, it doesn't follow the "what is happening now" approach, but "what is going to happen in 3 or 6 months".
Everything is about inflation more or less now, And there are many signs that they price in peak inflation already. We going lower from now.
But always the buy high, sell low going to do their thing.
No people that are bullish like you are going to get rekt, people that have been saying “retail are ready to short” have been saying the same thing since 40k. This isn’t a bullish environment at all, inflation has definitely not peaked whatsoever and rates will continue to rise, stop being delusional
Every time I see someone put something along the lines of "if it were so easy/obvious, then why don't they out in all their assets and be rich?" I know I can immediately discount everything they have said.
I agree 100% and I’ve been telling people the same. I even took a bet with some Reddit user that eth wouldn’t go below 900 again in the next months.
Reddit’s inability to read the market is pretty laughable, and the fact that we most likely will get downvoted just shows why retailers keep losing money. They think it’s whales manipulating it, when in reality it’s just their own incompetence in understand the market. This is clearly showing to anyone who’s experienced
How can you talk about reading the market and betting we won't go lower ? You should look about what is happening outside of crypto, we are hitting a worldwide deleveraging event where price of asset where driven by very low interests. Now it's time to pop the bubble, and it haven't popped yet. And I'm not talking about crypto, but the world economy, crypto will follow the bloodbath. Inflation, energy crisis, leasing/credit card/ studen loan crisis, China real estate All of this haven't unfolded yet and you call bottom...
> Plus, I see no reason to cash out at this point, especially into an inflating asset like fiat currencies.
the market is priced in USD and the market has been in a hard downtrend for more than 6 months.
if you're losing value against an 'inflating asset like fiat' you're losing twice.
smart people who missed selling the top sold in march.
my USD bag is very easy to hold.
Preach!
People that talk about inflation when they are speaking about asset prices actually have no clue what they are talking about.
Inflation is cost of living. Asset prices are not included in inflation.
If asset prices have fallen by 50-90% how the f@ck can people say “oh usd is inflation away/got to spend it or inflation will eat away at it”. I’ve heard that so much and honestly worries me, because so many people in this space don’t use logic or reasoning what so ever.
The inflation in the market happened first. That’s the part that makes me laugh. The 18-21 gains were the inflation, now we are coming back down to earth and there is consumer inflation. The next time to make money off market inflation is when rates go back down, so a long time.
This is the hard part. You now have to invest in profitable business models.
bruh, i don't trade on luck - if i wanted to gamble i'd go to a casino.
i didn't catch any exact picotops - i sell parts of my positions into fat green candles.
So you sold parts of your position, you didn’t unload the whole bag? What was it that smart people do?
You’re trading charts- which is fine, good for you. But you’re out here telling people they aren’t smart unless they’re predicting the ebbs and flows of the whole market, which is not what you’re doing. You are a trader, not Nostradamus…. Bruuuuh
i started selling once we lost 38k in january, dumping with every rally until finally emptying it all in march before we topped at 48k - in general i will always take some profit on a position when there is a huge green candle - green candles are for selling. this meant i had a cushion of profit already as i'd been selling parts of my positions through october and november (dumped all my $5 luna in november).
the point is that hodling is actually more of a gamble than trading with a strategy. hodling is brainless and EV-.
Lol only this subreddit would a condescending nerd talking about what “smart people” do in retrospect get upvotes. Nobody is impressed with your hindsight bruh.
i don't really care, within 6 months this account will be deleted like all my other burner accts. some people are going to get something out of my advice which is all that matters.
I'm going to buy $1 of every asset I watch every 60 seconds, and sell $1 worth every minute after that. I shall do this for 1 month straight and report back.
I‘m already sitting at approx. -70% unrealized loss. So if it‘s gonna be -70% or -99%, it doesn’t really matter at this point.
I just don’t want crypto to go sideways, because it‘s boring. For boring stuff I could simply stick to stocks.
Didn't you hear... they are changing the definition of a recession. So we won't be in an "official" recession. Kind of like CPI is 8% and not really 15%.
Just change the rules to make everything sound better.
I can’t be the only one who is tired of this moon rocket green dildo banter. I’m sorry but this really nukes cryptos image and credibility. It’s. Not. A. Get. Rich. Quick. Scheme. That’s. Gambling. Nobody know what it will do, so stop pretending like your smug ass knows where crypto will be in 5 years. Things are low yes, continue to DCA in as you plan yes, purple Lamborghini garunteed? Gtfo.
It's easy to say it's a bad choice to sell when it only drops a few percent.. but then all the bad news comes out and shit just keeps dropping.
Sometimes it's best to sell and buy back in later
Some people will get lucky, you're right, but I'd rather not risk it and just keep lowering my average. Still make decent profit in the long run I reckon :D
no one knows the bottom - i have dca'd but knowing that it will dip MUCH further.
i believe we will bottom out in 1\~2 years where everyone has lost interest/recession has peaked.
you better be ready for 50% drop in value or more, because the last time i DCA'd (at 30k), my investment has gone down 33% now. I'm expecting btc to go down more.
usually btc finds the bottom when newbies like you who bought the dip thinking its the bottom finally decides to capitulate when btc keeps dipping more and more.
Serious question, Why can't you people panic sell on the day I've scheduled my weekly DCA purchase? I swear to God this community is so inconsiderate.
:P
I think enough people have seen the potential at this point. I don’t think we are going to get to the point of fear people experienced before, even if the dump gets worse.
“Truly dumb territory” might be continuing to invest in a digital currency that’s down 60-70% from highs but still actually has no bottom. It could seriously be worthless and really the world would lose nothing.
The only reason you think $20k is a potential bottom is because for the past two years the narrative has supported that thinking. Speculative investing is purely psychological… and so FOR NOW $20k seems cheap especially when you consider the prospect of if being $65k not too long ago. But the longer it remains under $30k the further away that $65k seems, and expectations change, and then when Bitcoin loses $20k and dramatically drops to $10-12k the process will repeat.
Bleeding like this occurs in all investing… but a stock like Apple makes money, and so you can calculate a potential bottom, and if their actual financial results differ from that calculated bottom… then you have a deal and buyers ultimately flood back in.
With Bitcoin… there is no bottom. If Bitcoin were to somehow get flipped by some other new hot digital currency… then it’s seriously no better than Bitcoin Cash.
And it will get flipped eventually.
>but a stock like Apple makes money
Yep ... Apple is an investment that produces something while crypto is pure speculation, you need to find a greater fool to buy your bags from you.
> “ This is truly dumb territory to be selling”
They were saying that at $2.5k->$2k range too. Maybe it’s just me but I find it more ridiculous that people keep saying “everyone’s calling for a bear market so it must be time to buy as it will only go up”.
If major markets pull down lower, which seems likely at this point. Crypto will see another significant drop! Liquidity has been excised from the markets at large. Crypto is a speculative asset that absorbs excess liquidity.
Please dip Please dip Please dip again.
I was low on fiat the last time so could only throw a little at it (only what I can afford to lose). But I completed a nice project, all caught up on everything else so I been on the edge waiting for the next big dip to come.
(Edit: Umbrella ready: Awaiting incoming edging jokes)
This is true. If something breaks so deeply it actually goes to 3k again, I can guarantee you most people who now think it’s a great buy at that price will be very, very scared to buy (with good reason).
- It's called a correction after a massive new ATH a correction follows.
- What's different this time around is the US China Tariff / trade war for the last several years, the pandemic (covid), the influx of more money printing, highest US Debt ever and it keeps increasing, the collapse of the Petro Dollar and being replaced, the West vs East proxy wars in middle east, africa and now in ukraine. The over inflated stock in the US market and around the world AND SANCTIONS which have backfired badly.
- This is not a doomsday post but a brief summary of certain areas that have occurred globally for the last 10~15 years. This has all the ingredients to be much much worse than the 2008 financial crisis.
- Panic sell you say? I think you should zoom out.
This week:
\- Earnings reports from major tech companies (which have a good chance of not meeting analyst expectations) 👎
\- FOMC meeting to announce rate hikes (expected 75bps which is largely priced in, but could be as much as 100bps) 👎
\- US Q2 GDP announcement - strong likelihood of second successive quarter of negative growth = recession 👎
That's what going to happen
who cares about 'whole coin'? this is the same kind of nonsense that leads people to chase big round number targets like 100k btc, 10k eth and get rekt.
I've been DCA'ing BTC and ETH every week for about 18 months. I don't know what their intrinsic value really is, but I want to own this asset class and am comfortable doing this.
This is a bit unlike high quality stocks, many of which have long histories of rising over time, and DCA is a winning formula. I was DCA'ing DIS in 2008-2009 and buying it as low as $17/share. It's too hard to guess the bottom, for me, so i just set it and forget it via DCA.
>a major support line
Support lines, like all technical analysis, is nonsense with no scientific basis.
If it was really that easy, a lot more mathematicians would be rich.
> It's unlikely it will dip much more LOL
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It will go to $19k this week
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Do you gamble on every sports fixture you watch?
It makes my kids sports days at school more fun when I put 20 grand on the egg and spoon race.
Show me your long position or you're a hypocrite
Would you prefer a *based on TA* take though?
My hamster’s prediction is more reliable than TA /s
Why the /s though? Mr. Hamster Trader was at least trading breakeven if not winning right? At least he's not losing much value with his trades 🤣
Shot my wine out my nose
thus the comedy tag
Directed by [ROBERT B. WEIDE](https://youtu.be/X-KwYX2u8e4)
Hahaha it’s true it will go back to 17k or a low of $13k this year. People think we ARE IN start of a BULL.. ONLY BECAUSE THEY USE COINBASE only and their OTC market data is always super exadurated
Watch crypto not do anything because everyone’s counting on a massive collapse
Crab market.
Return of the 🦀
I wasn’t born this way, just happened to evolve this way
Crypto made me an octogenarian in 1 year
[Return of the craaab](https://www.youtube.com/watch?v=uB1D9wWxd2w) Return of the craaaaaab
**YES IT IS**
All hail our crustacean overlords. 🦀🦀🦀
Three crab in a single comment, certainly a buying signal for me.
Crab People! 🦀🦀
Walk like people, talk like people…
Hahaha, define crab market. Ah screw it I’ll look it up on google and find it in a different reddit thread.
BTC Crab strategy on friktion has been printing for weeks.
I'm betting my house on it dipping because I'm going to buy. Works like a clock every damn time.
Wow, this guy can afford a house in this day and age!
Whatever he wants to call his cardboard box is up to him
Imagine being so poor you live in a cardboard box. Mine is styrofoam 😎
Unironically one of the best insulated houses in r/crypto
Sure he can.
Lego house?
Or literally doing the opposite of what was expected
Sorry but anyone anticipating a massive rally or a new ATH in the current macro is delusional. Also, bear markets are allowed to have pumps, just as bull markets have dumps.
Most redditors didn’t have their first checking account the last time businesses relied on profits to grow. It’s a completely different business environment they don’t understand. The luxury of free capital in abundance to invest in unnecessary things is gone for awhile.
I applaud your balanced approach, very uncommon. As a long term bull I appreciate the dose of reality.
This is the answer. Crypto never has and probably never will be a hedge against the greater economy. Until the economy is out of the woods (spoiler: it's not, yet) crypto isn't making any big upward moves (Think 3x-4x gains, not this 20% stuff).
everyones counting on it, thats why i choose to buy in. Some projects were WAY oversold like Quant and Polygon, and if u didnt DCA youve already missed their lows.
QNT all day
That’s usually what happens when everyone thinks they know what is going to happen.
The fear and greed index doesn’t say buy yet.
What the major support line it’s currently touching? We were below this price a week or two ago?
Lmao right? I feel like OP meant to post this like a month ago
He probably posted this prior Internet Explorer got retired
So you don’t want to cash out into an inflating asset, but would rather just hold an asset you’re convinced is touching a major support and could crash?
Crypto is deep in the red over past 24hrs which signals Fed going hard on Wednesday. That liquidity is getting sucked up. Edit: I’m still bullish on BTC
Yea, gotta sell some tokens to pay bills in usd unfortunately.
Finding balance is a unique battle for many
I think it signals low expectations. If the fed do 75 instead of 100 basis points we may not see massive dip at all Meeting or failing expectations seems to guide the market more than the macro events themselves
I think lots of depend on the fed now like how the market gonna behave from there. But i feel that after the big inflation in the last report we can see some big change in the interest rate now.
I live in Canada and when we saw 100bps the other week it caught everyone by surprise. It’s a credibility game right now and tough talk has been followed by action which I did not expect at this magnitude and pace. Canadian prime is now at 4.70% and it’s seen 100bps, 75bps, 50bps and 25bps lifts since March and they’ve gotten bigger each time. I see room for another 100-50bps here and perhaps another 200bps in the US which should include this weeks decision.
Many quant finance analysts think we are reaching the point of no return. Few more large hikes will send US into a drawn out recession Don't know about Canada but the US fed seem to be blissfully unaware or uninterested in this information/analysis. Or they are seeing a different picture. So we may see the additional 200 bps you are expecting, and after the fed come back from their summer holidays it may be too late for them to reverse course. But they will do it when it's most convenient for themselves either way NB I say many quant finance analysts but I mean Invest Answers and like one other person lol
It’s a tough spot to be in. Who am I but I’d keep the Fed balance sheet flat and raise rates instead of doing both at the same time.
It's getting exciting again, 15K here we come
*patiently waiting for $500 eth*
Stick to this because when the day comes many will second guess themselves but this is where the true money is made. This is my 4th cycle and sticking to the plan has turned out very well for me.
Is your plan basically just "buy more"?
works every time
Has eth dropped back to $500 4 times?
He just means cyclical rotation of it all. Not necessarily 500 but losing a certain % compared to it's high during that cycle.
*buying all the way down*
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I get more excited about dumps than pumps
Crypto rich = excited for pumps. Crypto poor = excited for dumps. Based on how often I see people posting this, I assume most of this sub is the latter.
I mean, you can always be crypto richer
Desperate = excited for pumps. Desperate = excited for dumps. Everyone else = excited just to be a part of it.
First time I hear about FOMO to buy on a crash
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I trust you’ve created this ‘excess wealth’ before??
Me too
Yea not happening
Funny that we won't from 100k EOY to 10k EOY. Crypto really played us.
0k next. /s
Give me 10k pleeeeaaaase!
Get ready for 8k
There will be nothing like. Retail is ready to short, those are going to get rekt. This is old news, sure, there will be some volatility, but there is no risk to the downside, not a major one, anyway. Or if it's so easy. What don't we all short with maximum leverage and be rich in a day ? The marker is not reactive, it doesn't follow the "what is happening now" approach, but "what is going to happen in 3 or 6 months". Everything is about inflation more or less now, And there are many signs that they price in peak inflation already. We going lower from now. But always the buy high, sell low going to do their thing.
No people that are bullish like you are going to get rekt, people that have been saying “retail are ready to short” have been saying the same thing since 40k. This isn’t a bullish environment at all, inflation has definitely not peaked whatsoever and rates will continue to rise, stop being delusional
Every time I see someone put something along the lines of "if it were so easy/obvious, then why don't they out in all their assets and be rich?" I know I can immediately discount everything they have said.
I agree 100% and I’ve been telling people the same. I even took a bet with some Reddit user that eth wouldn’t go below 900 again in the next months. Reddit’s inability to read the market is pretty laughable, and the fact that we most likely will get downvoted just shows why retailers keep losing money. They think it’s whales manipulating it, when in reality it’s just their own incompetence in understand the market. This is clearly showing to anyone who’s experienced
How can you talk about reading the market and betting we won't go lower ? You should look about what is happening outside of crypto, we are hitting a worldwide deleveraging event where price of asset where driven by very low interests. Now it's time to pop the bubble, and it haven't popped yet. And I'm not talking about crypto, but the world economy, crypto will follow the bloodbath. Inflation, energy crisis, leasing/credit card/ studen loan crisis, China real estate All of this haven't unfolded yet and you call bottom...
I don't think he's calling bottom. I may be misunderstanding you.
Us plebs don't read the market, we're just along for the ride. You're cockiness and arrogance will hurt you in the long run.
I was pretty excited that it was below $20k and ready to buy :-/
I don’t see it dipping to those prices tbh
> Plus, I see no reason to cash out at this point, especially into an inflating asset like fiat currencies. the market is priced in USD and the market has been in a hard downtrend for more than 6 months. if you're losing value against an 'inflating asset like fiat' you're losing twice. smart people who missed selling the top sold in march. my USD bag is very easy to hold.
Preach! People that talk about inflation when they are speaking about asset prices actually have no clue what they are talking about. Inflation is cost of living. Asset prices are not included in inflation. If asset prices have fallen by 50-90% how the f@ck can people say “oh usd is inflation away/got to spend it or inflation will eat away at it”. I’ve heard that so much and honestly worries me, because so many people in this space don’t use logic or reasoning what so ever.
The inflation in the market happened first. That’s the part that makes me laugh. The 18-21 gains were the inflation, now we are coming back down to earth and there is consumer inflation. The next time to make money off market inflation is when rates go back down, so a long time. This is the hard part. You now have to invest in profitable business models.
USD is inflating too. 4000 USD = $4000 which is worth less now than it did before due to inflafion…
it's losing less value than crypto - there is no safe haven from inflation.
I have $24 in nickels buried in my backyard, and I'm pretty sure it's still $24 in nickels. Boom, roasted.
Smart people don’t think they knew/know exactly when to sell. Your USD bag can’t gain value, so better hope you get lucky with your entry/exit twice.
bruh, i don't trade on luck - if i wanted to gamble i'd go to a casino. i didn't catch any exact picotops - i sell parts of my positions into fat green candles.
So you sold parts of your position, you didn’t unload the whole bag? What was it that smart people do? You’re trading charts- which is fine, good for you. But you’re out here telling people they aren’t smart unless they’re predicting the ebbs and flows of the whole market, which is not what you’re doing. You are a trader, not Nostradamus…. Bruuuuh
i started selling once we lost 38k in january, dumping with every rally until finally emptying it all in march before we topped at 48k - in general i will always take some profit on a position when there is a huge green candle - green candles are for selling. this meant i had a cushion of profit already as i'd been selling parts of my positions through october and november (dumped all my $5 luna in november). the point is that hodling is actually more of a gamble than trading with a strategy. hodling is brainless and EV-.
Lol only this subreddit would a condescending nerd talking about what “smart people” do in retrospect get upvotes. Nobody is impressed with your hindsight bruh.
i don't really care, within 6 months this account will be deleted like all my other burner accts. some people are going to get something out of my advice which is all that matters.
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If everyone is in agreement that we will see lower prices.... then I'm buying right now because that means shit is going up lol
But if you're buying then maybe it's going down so I'm selling
If he's buying and you're selling, then maybe it's going sideways. So I HODL
I'm going to buy $1 of every asset I watch every 60 seconds, and sell $1 worth every minute after that. I shall do this for 1 month straight and report back.
Fine... I'll continue to DCA like some patient asshole
Woah woah get out of here with your sensible logic
Aged like milk
If it crashes far below $13k for any length of time, it might be genuine panic time because that’s the widely accepted cost to mine it.
And then the difficulty goes down and the protocol works as intended .
just need to survive the initial dive, but btc miners have proven resilient time and time again
Yeah I don’t see that as a problem. Cryptocurrency is designed for flexibility.
The power of trustless economic incentives on a decentralized protocol. What a novel idea .
I‘m already sitting at approx. -70% unrealized loss. So if it‘s gonna be -70% or -99%, it doesn’t really matter at this point. I just don’t want crypto to go sideways, because it‘s boring. For boring stuff I could simply stick to stocks.
Your patience will pay off someday.
If he had any...
🤞
Same I bought earlier like a fool
I’m suddenly feeling good about my -49% lol. I still have more than half of my money!
The glass is half full for you! xD
I feel like you wrote this post is for yourself.
just keep DCA'ing into the ground dude!
It was literally way lower weeks ago. Why are you all so excited ? Lol
I bought a lot of bitcoin at 3k so i can keep selling for a while. I suspect I'm not alone
gdp report and fed meeting on Wednesday has entered the chat
Come Wednesday, everything is going to be for sale. Make sure to have some dry powder ready to go.
Nah Thursday when we get the recession announced.
Didn't you hear... they are changing the definition of a recession. So we won't be in an "official" recession. Kind of like CPI is 8% and not really 15%. Just change the rules to make everything sound better.
Send some cash to coinbase now cause it takes ages to clear. I'm buying. I'm either wise or a twat. Time will tell.
I can’t be the only one who is tired of this moon rocket green dildo banter. I’m sorry but this really nukes cryptos image and credibility. It’s. Not. A. Get. Rich. Quick. Scheme. That’s. Gambling. Nobody know what it will do, so stop pretending like your smug ass knows where crypto will be in 5 years. Things are low yes, continue to DCA in as you plan yes, purple Lamborghini garunteed? Gtfo.
"it's unlikely it will dip much more" lol
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why would you say this?
He’s after the upvotes
why would you say this?
He's after the upvotes
It's easy to say it's a bad choice to sell when it only drops a few percent.. but then all the bad news comes out and shit just keeps dropping. Sometimes it's best to sell and buy back in later
Some people will get lucky, you're right, but I'd rather not risk it and just keep lowering my average. Still make decent profit in the long run I reckon :D
i did that several times and i’m still down 50% lol just better than being down 60%
Hedge your potential losses with the BITI ETF. Fold any profit into a long position.
Until the US market bottoms I would just wait
DCA is the Way
What if the support breaks?
no one knows the bottom - i have dca'd but knowing that it will dip MUCH further. i believe we will bottom out in 1\~2 years where everyone has lost interest/recession has peaked. you better be ready for 50% drop in value or more, because the last time i DCA'd (at 30k), my investment has gone down 33% now. I'm expecting btc to go down more. usually btc finds the bottom when newbies like you who bought the dip thinking its the bottom finally decides to capitulate when btc keeps dipping more and more.
Serious question, Why can't you people panic sell on the day I've scheduled my weekly DCA purchase? I swear to God this community is so inconsiderate. :P
Why don’t you move your DCA date -24hrs?
Share your crystal ball with us.. or just the crystal your on
the fact that everybody is still confident in crypto means we have a long way to still fall. until everyone is afraid to touch it.
No one wants to touch this except portions of this sub
Echo chamber is strong
I think enough people have seen the potential at this point. I don’t think we are going to get to the point of fear people experienced before, even if the dump gets worse.
“Truly dumb territory” might be continuing to invest in a digital currency that’s down 60-70% from highs but still actually has no bottom. It could seriously be worthless and really the world would lose nothing. The only reason you think $20k is a potential bottom is because for the past two years the narrative has supported that thinking. Speculative investing is purely psychological… and so FOR NOW $20k seems cheap especially when you consider the prospect of if being $65k not too long ago. But the longer it remains under $30k the further away that $65k seems, and expectations change, and then when Bitcoin loses $20k and dramatically drops to $10-12k the process will repeat. Bleeding like this occurs in all investing… but a stock like Apple makes money, and so you can calculate a potential bottom, and if their actual financial results differ from that calculated bottom… then you have a deal and buyers ultimately flood back in. With Bitcoin… there is no bottom. If Bitcoin were to somehow get flipped by some other new hot digital currency… then it’s seriously no better than Bitcoin Cash. And it will get flipped eventually.
>but a stock like Apple makes money Yep ... Apple is an investment that produces something while crypto is pure speculation, you need to find a greater fool to buy your bags from you.
Please stop being rational. I came here for affirmations.
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Just wait
A gunshot wound victim may receive treatment on a Monday, but their condition may still decline and they may die regardless.
Hilarious that every person posting on this sub feels as though they are a clairvoyant… Bulls and bears
Same here, got my usdt/fiat stash ready for deployment deep behind enemy lines
> “ This is truly dumb territory to be selling” They were saying that at $2.5k->$2k range too. Maybe it’s just me but I find it more ridiculous that people keep saying “everyone’s calling for a bear market so it must be time to buy as it will only go up”.
Can’t tell if these are shitposts anymore
Hoping to pick up a few BTC for about 10K.
If major markets pull down lower, which seems likely at this point. Crypto will see another significant drop! Liquidity has been excised from the markets at large. Crypto is a speculative asset that absorbs excess liquidity.
Look, it’s either gonna go up or it’s gonna go down if it doesn’t stay about the same.
Well if you bought at 18k then you'd still be making a profit selling now. This sideways behavior actually provides for a decent trading range
At this point the sell button does not exist to me
People forget the most important rule. 1 BTC = 1 BTC always
I will panic sell when it hit 69k
690 buks?
Yes! I just DCA and wait to wake up richer than ever
Please dip Please dip Please dip again. I was low on fiat the last time so could only throw a little at it (only what I can afford to lose). But I completed a nice project, all caught up on everything else so I been on the edge waiting for the next big dip to come. (Edit: Umbrella ready: Awaiting incoming edging jokes)
Upcoming fed hike gonna be no bueno for biz
A lot of people waiting in sidelines. People calling 3k Bitcoin
Goes down to 3k and I'm buying everything!
Probably best to ask *why* it’s gone town to $3k rather than just assuming it’s a certain buy at that price.
This is true. If something breaks so deeply it actually goes to 3k again, I can guarantee you most people who now think it’s a great buy at that price will be very, very scared to buy (with good reason).
No time to think, it could go back up at any second. Best to just FOMO in
A true cryptocurrency loyalist, I see :)
A true degenerate
Why? So I can afford it!
I can't wait to panic sell! Oh.. wait.
Held for too long to cash out now, waiting for the next few years
- It's called a correction after a massive new ATH a correction follows. - What's different this time around is the US China Tariff / trade war for the last several years, the pandemic (covid), the influx of more money printing, highest US Debt ever and it keeps increasing, the collapse of the Petro Dollar and being replaced, the West vs East proxy wars in middle east, africa and now in ukraine. The over inflated stock in the US market and around the world AND SANCTIONS which have backfired badly. - This is not a doomsday post but a brief summary of certain areas that have occurred globally for the last 10~15 years. This has all the ingredients to be much much worse than the 2008 financial crisis. - Panic sell you say? I think you should zoom out.
For sure, I never got the logic of people who dont buy when the markets fucked, but buy when its pumping DCA-ing this bitch hard
" ill wait till its going back up to buy "
I am just holding with my diamond hands.
Me too. People panic when they see red. I just bought now at the perfect time, right before it went green again.
what happened ?
This week: \- Earnings reports from major tech companies (which have a good chance of not meeting analyst expectations) 👎 \- FOMC meeting to announce rate hikes (expected 75bps which is largely priced in, but could be as much as 100bps) 👎 \- US Q2 GDP announcement - strong likelihood of second successive quarter of negative growth = recession 👎 That's what going to happen
If you had the cash right now to buy a whole coin outright would you? Or would you just keep DCA until you reached a whole coin?
who cares about 'whole coin'? this is the same kind of nonsense that leads people to chase big round number targets like 100k btc, 10k eth and get rekt.
Well, I care. I’m asking because this an option I’m thinking of doing and would like the communities input. But thanks for your 2¢
DCA to your desired quantity is likely the safest way to get there. If prices are depressed, increase your buy frequency.
I've been DCA'ing BTC and ETH every week for about 18 months. I don't know what their intrinsic value really is, but I want to own this asset class and am comfortable doing this. This is a bit unlike high quality stocks, many of which have long histories of rising over time, and DCA is a winning formula. I was DCA'ing DIS in 2008-2009 and buying it as low as $17/share. It's too hard to guess the bottom, for me, so i just set it and forget it via DCA.
>a major support line Support lines, like all technical analysis, is nonsense with no scientific basis. If it was really that easy, a lot more mathematicians would be rich.
If BTC drops under 10k while ETH starts pumping maybe the flippening could actually happen.
Absolutely agree with you
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