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Cryptocurrency mega-thread

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Did some investigating on a whale transaction with MC a couple of hours ago.

They bought 230,000 MC over two transactions (paid just over $2M):
https://etherscan.io/tx/0xf2e05823f36422771a470cf6ac5d702efdcc9e19c79900261af6a3c716e5cc05
https://etherscan.io/tx/0xaca9453ef22979db1febe3763a1a8d1fb785ce0c1ca0808141af425ca4ea7164

They then sold all of it today for a value of just over $1M:
https://etherscan.io/tx/0x8bea92e596e24ec36fa2520df6b95dfb0417cedaf29abb8e7bb03af3273cf9b6

Basically, they sold at nearly a 50% loss in less than 1 month. If they were in it for a short term play, they could've been smart and sold when it hit just over 12 bucks before the Binance listing last Thursday. I don't know how someone could have this much money and trade like this.
 
BACCS said:
Did some investigating on a whale transaction with MC a couple of hours ago.

They bought 230,000 MC over two transactions (paid just over $2M):
https://etherscan.io/tx/0xf2e05823f36422771a470cf6ac5d702efdcc9e19c79900261af6a3c716e5cc05
https://etherscan.io/tx/0xaca9453ef22979db1febe3763a1a8d1fb785ce0c1ca0808141af425ca4ea7164

They then sold all of it today for a value of just over $1M:
https://etherscan.io/tx/0x8bea92e596e24ec36fa2520df6b95dfb0417cedaf29abb8e7bb03af3273cf9b6

Basically, they sold at nearly a 50% loss in less than 1 month. If they were in it for a short term play, they could've been smart and sold when it hit just over 12 bucks before the Binance listing last Thursday. I don't know how someone could have this much money and trade like this.
Click to expand...
More money than sense.

Or there's more to the story.
 
Gigantic said:
More money than sense.

Or there's more to the story.
Click to expand...
I honestly doubt it, so much dumb money in crypto. There is absolutely zero sense to selling at a bottom (a price that MC actually dipped to 2 weeks ago as well), watching it surge to over 10 bucks and stabilise there for a week, and then sell after a market crash.

I love being able to see all transactions in crypto and realise that having money doesn't mean you are actually smart with it.
 

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BACCS said:
I honestly doubt it, so much dumb money in crypto. There is absolutely zero sense to selling at a bottom (a price that MC actually dipped to 2 weeks ago as well), watching it surge to over 10 bucks and stabilise there for a week, and then sell after a market crash.

I love being able to see all transactions in crypto and realise that having money doesn't mean you are actually smart with it.
Click to expand...

You don't even have to have been in the market long to know what happens. As long as you had crypto exposure since May of this year you'd have seen the market recover from 2 or 3 of these already.
 
Gigantic said:
You don't even have to have been in the market long to know what happens. As long as you had crypto exposure since May of this year you'd have seen the market recover from 2 or 3 of these already.
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That's why I don't understand whales like the above. It appears this wallet has been active over 5 years too, with similar trades on other alts netting major losses in short periods of time.

Having been in this since May, this would be the 3rd major correction I've seen. 55% drop from ATH in April and then 3 months of accumulation; 25% drop from 52k in early September and only 4 weeks to a new ATH mid October; 40% drop from most recent ATH in early November to now. Before this, the last major pullbacks were 30% in October 2020, a 25% drop in one week in February 2021 and 30% drop in January 2021 (all of these stayed above the Bull Market Support Band). Since the pandemic crash of March 2020 (which is an outlier due to external circumstances), that is 6 corrections greater than 20% that have then been recovered from to reach a new ATH. In 2017, I believe there were also 6 corrections of this size. The most recent one and the one that ended in July (funnily enough the two largest corrections) have both resulted in a reset of open interest (and drop below the Bull Market Support Band), but the macro lows have increased over time (29k vs 49k).

This has me wondering whether the 4 year cycle really exists, given that bull cycles have lengthened since 2013 (despite people always saying there are 4 year cycles, this isn't exactly true). Maybe this is just another macro wave up for the market in the lengthening cycle and now accumulation begins again before the next wave.

 
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Still new to crypto, 1k down over the last week hasn’t been ideal but owning shares over the last couple years has prepared me to expect things like this 🙄 Is it to early to start buying more or is it just going to keep going down and down for another week? Some bargains already, if it keeps going down I might have to not worry about Christmas presents and buy the family some coins 🤣
 
Pancakes said:
Everything is about to go down
DOWN DOWN DOWN
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I do wonder if the Evergrande news is already now priced in, the talk of this default/CEO going missing started last Friday (and tbh, defaulting has been accepted as likely since September). Crabbing sideways for a while at these levels seem likely.
 
Evergreen not the only Chinese developer up s*** creek.

Sunrise 100 also missed a 180 mil in principle and interest payments today
 

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BACCS said:
That's why I don't understand whales like the above. It appears this wallet has been active over 5 years too, with similar trades on other alts netting major losses in short periods of time.

Having been in this since May, this would be the 3rd major correction I've seen. 55% drop from ATH in April and then 3 months of accumulation; 25% drop from 52k in early September and only 4 weeks to a new ATH mid October; 40% drop from most recent ATH in early November to now. Before this, the last major pullbacks were 30% in October 2020, a 25% drop in one week in February 2021 and 30% drop in January 2021 (all of these stayed above the Bull Market Support Band). Since the pandemic crash of March 2020 (which is an outlier due to external circumstances), that is 6 corrections greater than 20% that have then been recovered from to reach a new ATH. In 2017, I believe there were also 6 corrections of this size. The most recent one and the one that ended in July (funnily enough the two largest corrections) have both resulted in a reset of open interest (and drop below the Bull Market Support Band), but the macro lows have increased over time (29k vs 49k).

This has me wondering whether the 4 year cycle really exists, given that bull cycles have lengthened since 2013 (despite people always saying there are 4 year cycles, this isn't exactly true). Maybe this is just another macro wave up for the market in the lengthening cycle and now accumulation begins again before the next wave.

Click to expand...


Cycles should be measured from low to low, not from peak to peak.

Follow Bob Loukas for a better understanding of cycles in bitcoin and other asset classes
 
Evolved1 said:
BigCheds, Nebraskangooner, Pentoshi, AltcoinPsycho, IncomeSharks.
Click to expand...

BigCheds the goat. Nebraskangooner gud. The others are ok too although I find Pentoshi a little too biased to the bearish side at times.

Also check out Bob Loukas, TraderSZ, Ansem and David Holt (the latter two have good insights but are 20% sh*tposting accounts)
 
BACCS said:
Did some investigating on a whale transaction with MC a couple of hours ago.

They bought 230,000 MC over two transactions (paid just over $2M):
https://etherscan.io/tx/0xf2e05823f36422771a470cf6ac5d702efdcc9e19c79900261af6a3c716e5cc05
https://etherscan.io/tx/0xaca9453ef22979db1febe3763a1a8d1fb785ce0c1ca0808141af425ca4ea7164

They then sold all of it today for a value of just over $1M:
https://etherscan.io/tx/0x8bea92e596e24ec36fa2520df6b95dfb0417cedaf29abb8e7bb03af3273cf9b6

Basically, they sold at nearly a 50% loss in less than 1 month. If they were in it for a short term play, they could've been smart and sold when it hit just over 12 bucks before the Binance listing last Thursday. I don't know how someone could have this much money and trade like this.
Click to expand...

I'd say its old money.
Some rich pricks kid or grandchild ****ing around trying to make something of himself.
 
LongBombFromOutside50 said:
BigCheds the goat. Nebraskangooner gud. The others are ok too although I find Pentoshi a little too biased to the bearish side at times.

Also check out Bob Loukas, TraderSZ, Ansem and David Holt (the latter two have good insights but are 20% sh*tposting accounts)
Click to expand...
Yep, I follow all of those too. Nice choices.

Nothing wrong with a bit of shitposting btw. AltcoinGordon is my fav shitposter.
 
Like every ****ing crash I never have the capital at that point in time to invest more.

If I did I'd be getting some bargains now and waiting til next year.
Instead have to sit and watch my portfolio down 30% and hope I can get some spare funds before it recovers.
 

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