Cryptocurrency mega-thread

[The Dice Man]

At least Asia didn't continue the dump. I've got a couple of open leverage positions. They're small in the scheme of things but they got me up at midnight to double check how close I was getting (I wasn't), but going going to bed seeing bitcoin doing a bit of a mischief to itself doesn't make for peaceful dreams. It did wake me up to the Fud migraton though, so maybe that was the real reason I got up.

 

[The Dice Man]

Just spoke with the dev and he's getting the social media guy to update the socials regarding migration. Cheers The Dice Man

Thanks BZ. It's strange as I used to be in their TG group and one day it just disappeared on me. I tried rejoining via coingecko link and doesnt let me in, as if Ive been banned. I dont even remember ever writing in there, it was just to keep up on whats going on occasionally.

 

[bzparkes]

Thanks BZ. It's strange as I used to be in their TG group and one day it just disappeared on me. I tried rejoining via coingecko link and doesnt let me in, as if Ive been banned. I dont even remember ever writing in there, it was just to keep up on whats going on occasionally.

Ah true. Maybe you got accidentally removed from the group, happened to me in other groups before when they try to remove spam and end up fat-fingering the wrong person.

 

[BACCS]

At least Asia didn't continue the dump. I've got a couple of open leverage positions. They're small in the scheme of things but they got me up at midnight to double check how close I was getting (I wasn't), but going going to bed seeing bitcoin doing a bit of a mischief to itself doesn't make for peaceful dreams. It did wake me up to the Fud migraton though, so maybe that was the real reason I got up.

Asia had been selling pretty hard leading into the end of 2021, probably isn't a lot left for them to sell! I highly recommend watching that video from Cowen above.

 

[The Dice Man]

Ah true. Maybe you got accidentally removed from the group, happened to me in other groups before when they try to remove spam and end up fat-fingering the wrong person.

Yeah maybe, it's happened to me before too.

Asia had been selling pretty hard leading into the end of 2021, probably isn't a lot left for them to sell! I highly recommend watching that video from Cowen above.

Thanks BACCS. I will try later on today. I haven't really been watching tubers lately, but I like Cowen, he's neither an optimist or a pessimist.

 

[BACCS]

Yeah maybe, it's happened to me before too.

Thanks BACCS. I will try later on today. I haven't really been watching tubers lately, but I like Cowen, he's neither an optimist or a pessimist.

Cowen is easily the most balanced influencer I've seen in crypto, never biases towards a certain direction. I've cut out a lot of the noise from crypto influencers that I used to follow and mainly pay attention to Cowen, Will Clemente and Pentoshi these days (Altcoin Psycho and IncomeSharks are decent as well). Also cutting out anyone shilling KASTA, as if the tokenomics aren't bad enough, the clear paid shilling of it by a few influencers is off the charts.

 

[The Dice Man]

Cowen is easily the most balanced influencer I've seen in crypto, never biases towards a certain direction. I've cut out a lot of the noise from crypto influencers that I used to follow and mainly pay attention to Cowen, Will Clemente and Pentoshi these days (Altcoin Psycho and IncomeSharks are decent as well). Also cutting out anyone shilling KASTA, as if the tokenomics aren't bad enough, the clear paid shilling of it by a few influencers is off the charts.

Ive done the same, and it's a much more peaceful headspace to be in.

 

[Cats2022]

This crash is a higher low then the last 3 big crashes the last 12 months. As a long term holder we in good position. I’m expecting another pump with in a few weeks. But will be shaky now til then.

 

[BACCS]

This crash is a higher low then the last 3 big crashes the last 12 months. As a long term holder we in good position. I’m expecting another pump with in a few weeks. But will be shaky now til then.

My thesis is another 2-4 weeks hovering just above 40k before a proper trend reversal happens. There are a lot of similarities with this pattern vs May-July; if this plays out, there would be a minor bounce from here (to where we were yesterday), another push down to low 40s and then the next leg up starts.

 

[The Dice Man]

Another good thread summarising MC from one of their devs:

A good thread to help me understand a little. I really should be loading up more at this price and bringing my average down.

I know you've gone balls deep on this one, what are your expectations EOY for example?

 

[The Dice Man]

Yeah I believe theyre doing it Friday night as they have to work out what tokens you send vs what the contract taxed so they can send you the original amount and not the taxed amount. Once sent they'll publish the contract and you just add it to your wallet and your tokens will show.

Please let me know when you know the new contract.

 

[BACCS]

A good thread to help me understand a little. I really should be loading up more at this price and bringing my average down.

I know you've gone balls deep on this one, what are your expectations EOY for example?

The devs and few of the larger investors have done a good job trying to explain the project to new investors on Twitter recently; this info was always available in the TG chat, but glad they're also spreading it on Twitter more now. This 4-5 region is an absolute golden zone for accumulation if you factor in the upcoming burn and completion of the Binance launchpool by the end of January. Even before the news of token burning and the peak of Binance launchpool FUD, price never dipped below 4 (4.06 was the absolute low and lasted a few minutes). If you're buying here you are basically buying the bottom, given or take a few percent.

EOY price expectations are hard as we are only in January, but with the recent proposal passing (including token burning amongst other bullish tokenomics) and end of the Binance launchpool soon, getting back to double digits before the end of Q1 seems fairly likely. The 8-9 range was strong support prior to the Binance listing and with that supply about to be burned completely, I can't see how price doesn't reach those levels again and holds as support. The only major token unlocks from here would be for any future CEX listings and unlocking of staking rewards in November; however, by that point I would expect MC to be holding a significantly higher low. Conservative estimate would be $20-30 as a higher low by end of 2022, bullish is anything above $50.

 

[BACCS]

 

[BACCS]

 

[Bostonian]

SUPER near a $1, I'll have some please.

 

[Cats2022]

My thesis is another 2-4 weeks hovering just above 40k before a proper trend reversal happens. There are a lot of similarities with this pattern vs May-July; if this plays out, there would be a minor bounce from here (to where we were yesterday), another push down to low 40s and then the next leg up starts.

If goes back down to 30k level I’d be little pissed. Haha

But confident all in place to go back up. Always seems to after crashes. Just patience. Always add on the dips. Especially with proven coins bitcoin and Ethereum

 

[BACCS]

If goes back down to 30k level I’d be little pissed. Haha

But confident all in place to go back up. Always seems to after crashes. Just patience. Always add on the dips. Especially with proven coins bitcoin and Ethereum

40k is the key level, this was a hard resistance to break after the crash to 29k and hasn't been breached on a weekly close since.

 

[BACCS]

 

[Evolved1]

We're gonna run below 40k

 

[BACCS]

We're gonna run below 40k

Will be a wick if it is, insane number of bids stacking up at 40k. There is significant selling pressure over the last couple of days and no wicks below 40k... yet. Feels like it needs to happen to completely **** the bears and trigger a short squeeze. OI has barely moved with this selling pressure, clearly a lot of large shorts are trapped somewhere around this price range that bullish whales are trying to liquidate.

 

[BACCS]

Posting on my lunch break at Maccas

 

[Evolved1]

Will be a wick if it is, insane number of bids stacking up at 40k. There is significant selling pressure over the last couple of days and no wicks below 40k... yet. Feels like it needs to happen to completely fu** the bears and trigger a short squeeze. OI has barely moved with this selling pressure, clearly a lot of large shorts are trapped somewhere around this price range that bullish whales are trying to liquidate.

The PA looks ugly here. I think we hit 39k minimum.

Some of my TA is pointing towards next week providing a good buying opportunity. I have plenty of ammo ready.

 

[Evolved1]

Saylor going back to his roots soon.

 

[BACCS]

The PA looks ugly here. I think we hit 39k minimum.

Some of my TA is pointing towards next week providing a good buying opportunity. I have plenty of ammo ready.

I don't think we close the week below 40k, regardless of whatever daily action happens before then. Extremely thick order books between 40-41k, clearly a lot of large shorts getting trapped and RSI has just dipped below 30 on the daily. I agree next week seems primed for some sort of bounce to the 45-47k range again; ETH to 3.6-3.8k.

 

[Evolved1]

I don't think we close the week below 40k, regardless of whatever daily action happens before then. Extremely thick order books between 40-41k, clearly a lot of large shorts getting trapped and RSI has just dipped below 30 on the daily. I agree next week seems primed for some sort of bounce to the 45-47k range again; ETH to 3.6-3.8k.

Pentoshi has tweeted about 2.7 and 2.2k ETH. I wouldn't rule it out.

The MRI indicator will give a buy signal next week. Willy Woo thinks the downturn ends mid Jan. That's good enough for me. We'll definitely get a decent bounce at some point. Whether that bounce is sustained or just a dead cat is another question. This year wont be as easy as the last 18 months.