Crypto trading

[BackInTheGame78]

Can you tell me where the money is coming from to get to these levels ? whilst also sustaining the rest of the market which is now actually critical given how much money is being spread out

Your talking about trillions upon trillions with these BTC estimates to get to those prices it literally would have to become a mainstream globally accepted currency

Institutions, greater mainstream adoption and then finally the parabolic move comes from retail investors FOMOing.

If you don't think institutions are in and getting more involved every passing day I am not sure what to tell you. The BTC balances held on exchanges are at their lowest levels in history.

Just wait and watch. The path it is on is almost identical to the parabolic move that gold made in the 70s.

You like many others are currently in the disbelief stage...that is what leads to the FOMO

 

[BackInTheGame78]

@BackInTheGame78
what are your yearly returns like? I'm seeing 300% yearly returns on here is that really true?
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Let's just say in a little under 6 months, I've booked more profit from crypto than my software engineering job pays yearly. And it should be 3-4x what it is, I made so many stupid mistakes early on.

Planning to be retired in 3-4 months permanently. Based on how things have been going the last month, that might be too long of a time frame honestly.

300% returns are really nothing in crypto. People make that in a week or less sometimes. Depends on the project and when you get in.
I have some IDOs that have returned 5000+% in 3 days.

 

[RickTheToad]

@BackInTheGame78, perhaps, but people have lost their shirts in the alt crypo currencies such as SHIBA, SQUID, and others. I just keep on adding to my positions in ADA, ETH and BTC. I do also own some fun money in DogeCoin. Outside of ADA, ETH, BTC most are garbage at best.

 

[jaygreenb]

Let's just say in a little under 6 months, I've booked more profit from crypto than my software engineering job pays yearly. And it should be 3-4x what it is, I made so many stupid mistakes early on.

Planning to be retired in 3-4 months permanently. Based on how things have been going the last month, that might be too long of a time frame honestly.

300% returns are really nothing in crypto. People make that in a week or less sometimes. Depends on the project and when you get in.
I have some IDOs that have returned 5000+% in 3 days.

Just some advice, I would wait until we are deep in a bear market or after before leaving your job, make sure you can keep your gains and perform at the same level. You'll also want the cash flow to buy the bottom of the market. The periods of parabolic growth have only typically been around 25% of the 4yr cycle. There are also extended periods of chop and things are pretty boring. Especially alts. The market is not always this generous with these returns. Of course it's your choice but just something to consider.

 

[jaygreenb]

@BackInTheGame78, perhaps, but people have lost their shirts in the alt crypo currencies such as SHIBA, SQUID, and others. I just keep on adding to my positions in ADA, ETH and BTC. I do also own some fun money in DogeCoin. Outside of ADA, ETH, BTC most are garbage at best.

Most of retail is going to get completely wrecked on those type of coins, they most likely won't realize those gains at the correct time.

 

[SargeMaximus]

Bitcoin flying bro. I regret selling on Friday

 

[BackInTheGame78]

@BackInTheGame78, perhaps, but people have lost their shirts in the alt crypo currencies such as SHIBA, SQUID, and others. I just keep on adding to my positions in ADA, ETH and BTC. I do also own some fun money in DogeCoin. Outside of ADA, ETH, BTC most are garbage at best.

Yeah, people want the fast gains from meme coins. I'm not into those, although I did have some SHIB and DOGE for short periods of time before selling out of them.

IDOs are not meme coins, they are usually quality projects backed by investors using launchpads that require you to have tokens staked to get allocations.

You clearly don't know enough about crypto or you'd realize that last statement is simply untrue. Not only untrue but almost hilariously untrue.

This is the problem... people who think they know a lot about crypto by simply putting some dollars in and making a profit but don't actually do any type of research or spend any type of time in the space to know what is going on. Those are the people who lose their shirts. Unfortunately that's 70% of people in crypto. The ones who spend time and take it seriously are printing money.

 

[BackInTheGame78]

Just some advice, I would wait until we are deep in a bear market or after before leaving your job, make sure you can keep your gains and perform at the same level. You'll also want the cash flow to buy the bottom of the market. The periods of parabolic growth have only typically been around 25% of the 4yr cycle. There are also extended periods of chop and things are pretty boring. Especially alts. The market is not always this generous with these returns. Of course it's your choice but just something to consider.

You can make money in the market both ways, not only when it's going up. I plan on shorting the market at the top.

 

[jaygreenb]

You can make money in the market both ways, not only when it's going up.

Sure, some do. Just saying make sure it plays out that way before dropping reliable income. Your life though

 

[BackInTheGame78]

Sure, some do. Just saying make sure it plays out that way before dropping reliable income. Your life though

If I am retiring it would be because I made more than $5 million...I am in some really exciting private sales coming up that have a chance to go huge.

My TA skills have been steadily improving and I am pretty confident in my buys in ways I have never been prior. Booked massive profits on AMP, SLP and ACH the past week, all of which I bought just prior to big breakouts.

Also...some think this could be the start of a super cycle, so there is a chance we might not see a true bear market for a while...potentially at all in 2022.

However, even if that does come to pass, fractal data suggests the bottom of the next bear market will be right around where we are currently.

 

[RickTheToad]

Yeah, people want the fast gains from meme coins. I'm not into those, although I did have some SHIB and DOGE for short periods of time before selling out of them.

IDOs are not meme coins, they are usually quality projects backed by investors using launchpads that require you to have tokens staked to get allocations.

You clearly don't know enough about crypto or you'd realize that last statement is simply untrue. Not only untrue but almost hilariously untrue.

This is the problem... people who think they know a lot about crypto by simply putting some dollars in and making a profit but don't actually do any type of research or spend any type of time in the space to know what is going on. Those are the people who lose their shirts. Unfortunately that's 70% of people in crypto. The ones who spend time and take it seriously are printing money.

I guess time will tell. I think the meme coins are all hype. I'm up around 3000% on BTC and doubled in ETH, so I am doing okay. I stay with what I know.

 

[RickTheToad]

Most of retail is going to get completely wrecked on those type of coins, they most likely won't realize those gains at the correct time.

Agreed. They are chasing the hype. Reminds me of the 1880's and tulips.

 

[BackInTheGame78]

I guess time will tell. I think the meme coins are all hype. I'm up around 3000% on BTC and doubled in ETH, so I am doing okay. I stay with what I know.

Nothing wrong with that, but saying everything else is garbage is sheer ignorance. There will be many alts that lap both ETH and BTC on this run up. And it's not cause they are garbage.

 

[jaygreenb]

If I am retiring it would be because I made more than $5 million...I am in some really exciting private sales coming up that have a chance to go huge.

My TA skills have been steadily improving and I am pretty confident in my buys in ways I have never been prior. Booked massive profits on AMP, SLP and ACH the past week, all of which I bought just prior to big breakouts.

Also...some think this could be the start of a super cycle, so there is a chance we might not see a true bear market for a while...potentially at all in 2022.

However, even if that does come to pass, fractal data suggests the bottom of the next bear market will be right around where we are currently.

Yeah, maybe it is a supercycle we just don't know yet. You just don't want to be caught in a bad position where it's hard to ride out a long term down trend. Where you make the real money is having the capital to accumulate in a bear market so you catch the entire move up. Even though you can make money in a bear market it is no where close to a bull where the underlying asset is growing exponentially. All I'm saying is play it safe, you don't want to screw up a once in a civilization paradigm shift. You want to max out accumulation in the period of time and it will be harder without the cash flow.

 

[jaygreenb]

Nothing wrong with that, but saying everything else is garbage is sheer ignorance. There will be many alts that lap both ETH and BTC on this run up. And it's not cause they are garbage.

There will be many in a short period of time that do, but over a 4+yr period, most will not. It is similar to the tech boom in the 90's, you will get some google, facbooks, netflix etc out of this but there will be many more that fail. There will also be some that have their period of dominance but then lose out to a competitor, think AOL. These are all basically new tech companies and each cycle has their new hot projects that are pretty much forgotten a few years later. There will be a handful of massive winners though. Just look at the Top 20 coins over the last 10yrs, many names have come and gone. Just the nature of it. Bitcoin however I believe will be the anchor/base currency of this entire ecosystem because of its decentralization, security, set rules and simplicity.

 

[RickTheToad]

Nothing wrong with that, but saying everything else is garbage is sheer ignorance. There will be many alts that lap both ETH and BTC on this run up. And it's not cause they are garbage.

I could be wrong, but DogeCoin was a coin just made up to make fun of the wild speculation in cryptocurrencies at the time. Shiba-Inu was created to "destroy" DogeCoin. Yes, DogCoin is trying to change and make them into something, but aside from trades and pops, I am not sure if either are real. The same cannot be said for ETH/ADA/BTC. I feel those are long term holds and I've been buying the big two for years. I also like gold and silver as well, but it's all part of a diversified portfolio. I also feel, all are going to explode should the inflation be anything near what some are predicting. With the world printing trillions of dollars, it's nearly inevitable. I also think real estate is a great inflation hedge as well as consumer stocks.

 

[BackInTheGame78]

I could be wrong, but DogeCoin was a coin just made up to make fun of the wild speculation in cryptocurrencies at the time. Shiba-Inu was created to "destroy" DogeCoin. Yes, DogCoin is trying to change and make them into something, but aside from trades and pops, I am not sure if either are real. The same cannot be said for ETH/ADA/BTC. I feel those are long term holds and I've been buying the big two for years. I also like gold and silver as well, but it's all part of a diversified portfolio. I also feel, all are going to explode should the inflation be anything near what some are predicting. With the world printing trillions of dollars, it's nearly inevitable. I also think real estate is a great inflation hedge as well as consumer stocks.

DOGE and SHIB are meme coins...I would never recommend buying those even if that is the hot thing right now.

I am talking about solid projects...ones like

DOT
SOL
MATIC
LUNA
LINK
AAVE
FTM
AVAX
ATOM

Etc...would not be surprised to see any or all of these outpace both ETH and BTC on the run up...

 

[BackInTheGame78]

There will be many in a short period of time that do, but over a 4+yr period, most will not. It is similar to the tech boom in the 90's, you will get some google, facbooks, netflix etc out of this but there will be many more that fail. There will also be some that have their period of dominance but then lose out to a competitor, think AOL. These are all basically new tech companies and each cycle has their new hot projects that are pretty much forgotten a few years later. There will be a handful of massive winners though. Just look at the Top 20 coins over the last 10yrs, many names have come and gone. Just the nature of it. Bitcoin however I believe will be the anchor/base currency of this entire ecosystem because of its decentralization, security, set rules and simplicity.

True enough but I am only talking about for this run up. I will be very selective in what I hold long term.

The ones I listed below are likely solid bets. Especially SOL, DOT and LINK.

LINK has not gone below it's main trendline since December of 2018 when it was .21...that is an incredibly long period of bullishness.

 

[BackInTheGame78]

Yeah, maybe it is a supercycle we just don't know yet. You just don't want to be caught in a bad position where it's hard to ride out a long term down trend. Where you make the real money is having the capital to accumulate in a bear market so you catch the entire move up. Even though you can make money in a bear market it is no where close to a bull where the underlying asset is growing exponentially. All I'm saying is play it safe, you don't want to screw up a once in a civilization paradigm shift. You want to max out accumulation in the period of time and it will be harder without the cash flow.

Oh trust me, I am erring on the side of caution with selling out...there are some indicators that have signalled the top of the previous two big runs that I will be watching and once those hit I am selling out. Even if I lose out on a few extra dollars, it will not be worth the additional risk. At that point the risk/reward doesn't make sense.

I will likely go back in on the dead cat bounce and then sell out once again to add to it tho since that is a pretty sure trend that almost always holds.

 

[jaygreenb]

True enough but I am only talking about for this run up. I will be very selective in what I hold long term.

The ones I listed below are likely solid bets. Especially SOL, DOT and LINK.

LINK has not gone below it's main trendline since December of 2018 when it was .21...that is an incredibly long period of bullishness.

Yeah, those are solid for sure. I have Dot, missed SOL, have a lot of LINK, it was one of the only coins besides BNB that ran during the bear market. Definitely some of the safer plays