Cryptocurrency mega-thread

[Ghost Patrol]

Prediction - BTC will crab sideways for a week, possibly lose another 10%

Then pump into Feb.

 

[ash_1050]

If you're holding crypto now's your time to start thinking about your next move.

There's three options here:
*Sell your coin at a slight to moderate gain/loss and ride out the current turmoil with your holdings as cash or tether.
*Hibernate your coin and ride out the current turmoil with the expectation it will go up again at some point in the future, be that days, weeks, months or years. Transfer it off the exchange and into a cold wallet, forget about the crypto market for now and come back when things are looking greener and more upbeat.
*DCA and continue buying on the way down during the bear market goes with the expectation it will go up again at some point in the future. This option adds more risk and more potential reward by upping your exposure and bringing down your average buy price.

A large part of being successful in the crypto space comes down to how well you execute the investing strategy you have in place for scenarios exactly like this where it feels like the sky is falling, everyone is running on emotion and sentiment has turned. If you're expecting the market to return to $50k or $68k or whatever number in the future ask yourself the honest question of how long you think it will take to get there, and why that's your expected timeframe. It's also helpful to run the same exercise for other possible timeframes as well, as it helps to remove any biases by providing the full spectrum of possibilities rather than just reinforcing the preconceived idea you've already got.

The most important bit to remember is at the end of the day it's just money, and any financial turbulence or losses suffered are temporary in the grand scheme of life.

 

[The Dice Man]

If you're holding crypto now's your time to start thinking about your next move.

There's three options here:
*Sell your coin at a slight to moderate gain/loss and ride out the current turmoil with your holdings as cash or tether.
*Hibernate your coin and ride out the current turmoil with the expectation it will go up again at some point in the future, be that days, weeks, months or years. Transfer it off the exchange and into a cold wallet, forget about the crypto market for now and come back when things are looking greener and more upbeat.
*DCA and continue buying on the way down during the bear market goes with the expectation it will go up again at some point in the future. This option adds more risk and more potential reward by upping your exposure and bringing down your average buy price.

A large part of being successful in the crypto space comes down to how well you execute the investing strategy you have in place for scenarios exactly like this where it feels like the sky is falling, everyone is running on emotion and sentiment has turned. If you're expecting the market to return to $50k or $68k or whatever number in the future ask yourself the honest question of how long you think it will take to get there, and why that's your expected timeframe. It's also helpful to run the same exercise for other possible timeframes as well, as it helps to remove any biases by providing the full spectrum of possibilities rather than just reinforcing the preconceived idea you've already got.

The most important bit to remember is at the end of the day it's just money, and any financial turbulence or losses suffered are temporary in the grand scheme of life.

I bought more yesterday, and I bought more today. What Im buying is compounding so price today doesn't bother me. I'm also considering chucking 5k into UST staking for 19% APR. I'm more bullish than BACCS !

 

[Evolved1]

It's far easier to look for shorting opportunities with this price action. I managed to catch a nice short at 43.2k, but closed early.

Buy the dips in a bull market. Short the rips in a bear market.

 

[The Dice Man]

It's far easier to look for shorting opportunities with this price action. I managed to catch a nice short at 43.2k, but closed early.

Buy the dips in a bull market. Short the rips in a bear market.

Tried my first short today using 1 Dot.. Was in a meandering timeframe but just wanted to get my head around how to do it, and how to exit. I made a tiny profit, but I was using it as a base tutorial.

My first thought after was if the market is tumbling down, a short can make money fast, but if you get a big green wick bounce then you can get a bit ****ed.

Im very careful with leverage and never been liquidated to this point, my borrow amounts are humble... to the point that Luna dropped to the 50's today(my liquididation price was $36), but I put funded the position to bring it down to $26.

I truly don't know if these are smart or stupid moves, but they're small amounts that I attribute to an education.

 

[ash_1050]

I truly don't know if these are smart or stupid moves, but they're small amounts that I attribute to an education.

It's smart, insofar as it's better to learn on the job with small amounts of cash than to learn on the job with large amounts of cash. Stupid would be going down the same learning path but throwing your entire portfolio at it.

 

[BACCS]

The hype is gone and the narrative just isn't there at the moment. We've had the BTC halving, money printing, institutions, Elon and Saylor, and ETFs. What will be the next selling point?

US stocks look like sh*t and we're unfortunately tied to them, only with higher beta.

I think an actual spot ETF getting approved for BTC and or ETH could kickstart the next run, but can’t see that coming until 2nd half of the year. Could be a slow Q1 and Q2 and a time to accumulate for the next cycle.

 

[BACCS]

Think there is probably a bounce of sorts in the next couple of weeks after FOMC, nothing substantial I wouldn’t expect, but I’m ok with anything at this point

 

[BACCS]

I bought more yesterday, and I bought more today. What Im buying is compounding so price today doesn't bother me. I'm also considering chucking 5k into UST staking for 19% APR. I'm more bullish than BACCS !

 

[BACCS]

 

[Evolved1]

Tried my first short today using 1 Dot.. Was in a meandering timeframe but just wanted to get my head around how to do it, and how to exit. I made a tiny profit, but I was using it as a base tutorial.

My first thought after was if the market is tumbling down, a short can make money fast, but if you get a big green wick bounce then you can get a bit f’ed.

Im very careful with leverage and never been liquidated to this point, my borrow amounts are humble... to the point that Luna dropped to the 50's today(my liquididation price was $36), but I put funded the position to bring it down to $26.

I truly don't know if these are smart or stupid moves, but they're small amounts that I attribute to an education.

Playing with small money is a good way to experiment and learn. My son has taken over one of my binance accounts and is trying his hand at trading with $250. He'll probably lose it all, but I figure it will push him to reassess strategies and learn what not to do.

 

[Evolved1]

I think an actual spot ETF getting approved for BTC and or ETH could kickstart the next run, but can’t see that coming until 2nd half of the year. Could be a slow Q1 and Q2 and a time to accumulate for the next cycle.

I haven't been keeping track. Are there other ETF's up for approval?

 

[BACCS]

I haven't been keeping track. Are there other ETF's up for approval?

 

[Bostonian]

Is it even worth buying now? It’s gone to sh*y and there’s nothing saying it won’t get better for the next 6 months.

If you're accumulating long term then sure.

No rule saying you can spend $20 a week and grab some small % of coins with the long term view to hold a big bad of something in 2030.

 

[Evolved1]

Has everyone got their lube ready?

 

[Cats2022]

Ok I’ve got fair bit on the side to go in. Let me know when’s good and what coin. I leaning wait for another week. Is this going back down to 29k?

 

[Bostonian]

It's funny how many people get into crypto because it's the future but then shit their pants in the now when the price goes down a bit.

 

[Evolved1]

Ok I’ve got fair bit on the side to go in. Let me know when’s good and what coin. I leaning wait for another week. Is this going back down to 29k?

29k is an obvious point for a bounce but it could get front run.

We're at the mercy of the US stockmarkets. If they dump, 29k isn't safe. If they pump, crypto will pump too.

BTC.D looks ripe for a pump so most alts are a risky play unless you're trading short term.

 

[bzparkes]

Ok I’ve got fair bit on the side to go in. Let me know when’s good and what coin. I leaning wait for another week. Is this going back down to 29k?

I'd probably wait a bit. Could always DCA into a position if you believe a reversal is imminent. Unlikely to be in the next few days though. If you want solid bets, then BTC, ETH and BNB have a lot of room to grow from this level of support.

Gaming/Multiverse projects are worth a look also.

 

[Bostonian]

Ok I’ve got fair bit on the side to go in. Let me know when’s good and what coin. I leaning wait for another week. Is this going back down to 29k?

Don't ask people on the internet what to buy. You'll do your balls.

People who do that tend to own a lot of ADA and VET.

 

[bzparkes]

It's funny how many people get into crypto because it's the future but then sh*t their pants in the now when the price goes down a bit.

It's why 95% of people lose money. They want a dip to enter but are too scared when it actually happens, so they wait for green again and FOMO into a pump, before selling on the next red candle. After that they cry 'Crypto's a scam!"

Rinse & repeat.

 

[Bostonian]

It's why 95% of people lose money. They want a dip to enter but are too scared when it actually happens, so they wait for green again and FOMO into a pump, before selling on the next red candle. After that they cry 'Crypto's a scam!"

Rinse & repeat.

Yeah very true.

Whatever happened to the good old buy the fear.

 

[Cats2022]

I'd probably wait a bit. Could always DCA into a position if you believe a reversal is imminent. Unlikely to be in the next few days though. If you want solid bets, then BTC, ETH and BNB have a lot of room to grow from this level of support.

Gaming/Multiverse projects are worth a look also.

Yeah the gaming ones most likely.

Bitcoin is following the stock market atm.

Stocks seem very shaky atm.
Patience is the key in this bear market.

 

[bzparkes]

Yeah very true.

Whatever happened to the good old buy the fear.

Too scary

 

[bzparkes]

Yeah the gaming ones most likely.

Bitcoin is following the stock market atm.

Stocks seem very shaky atm.
Patience is the key in this bear market.

Depends how much research you want to put into it really.

Sheldon Evans did a good video on this a while back, talking about ways to make steady 5-10x gains on projects in the 1-5bn MC range. Gave a good breakdown on why he currently doesn't see Cardano as a good investment (even though he made nearly $1m USD on it) and what you should be on the lookout for.

I think it's the below video where he talks about this: