Crypto trading

[SargeMaximus]

It's not that this time is different, it is that they are two completely different ecosystems/industries in terms of adoption. One has reached almost full penetration/adoption while the other is just the beginning(under 10% global) and will go through massive growth/adoption. I think both should be owned this decade, not either or. Tech networks eat every industry they touch ex(netflix, uber, google, amazon) because they are faster, cheaper, more efficient. Now it is happening to global finance, which by far has the largest potential market cap of them all. I don't think you realize what this really is yet, you should dig in more. Takes a while and a lot of hours to wrap your head around. Happy to give you some resources if interested.

I watched tons of bitcoin things on YouTube back when I was a crypto nut. When I invest in bitcoin at 15k whenever that was. But I do believe with the recent institutional buying has left crypto vulnerable to manipulation. That’s the main reason I don’t trust it and also why I was able to sell just before it crashed earlier this year.

If my thesis is correct, I’d rather not be in it for much of my portfolio

 

[jaygreenb]

I watched tons of bitcoin things on YouTube back when I was a crypto nut. When I invest in bitcoin at 15k whenever that was. But I do believe with the recent institutional buying has left crypto vulnerable to manipulation. That’s the main reason I don’t trust it and also why I was able to sell just before it crashed earlier this year.

If my thesis is correct, I’d rather not be in it for much of my portfolio

To each their own, you have to do what you are comfortable with. I think you are looking at the wrong properties and indicators but only time will tell. Because institutions where late to the party they aren't the ones controlling the market. There is a massive wealth transfer happening before our eyes. Commodities should be a good place to be regardless though

 

[SargeMaximus]

To each their own, you have to do what you are comfortable with. I think you are looking at the wrong properties and indicators but only time will tell. Because institutions where late to the party they aren't the ones controlling the market. There is a massive wealth transfer happening before our eyes. Commodities should be a good place to be regardless though

Well if I had sold and it continues to moon I would have agreed with you. But I sold right before things tanked so I put some weight to my theory

 

[jaygreenb]

Well if I had sold and it continues to moon I would have agreed with you. But I sold right before things tanked so I put some weight to my theory

Your timeframes are way too short, market also has full recovered since its previous peak and from the looks of it is heading much higher. Nothing growing this quickly moves in a straight line

 

[SargeMaximus]

Your timeframes are way too short, market also has full recovered since its previous peak and from the looks of it is heading much higher. Nothing growing this quickly moves in a straight line

For sure. And don’t get me wrong I’d love to become a millionaire so I could buy more commodities! But I don’t have much access to crypto certainly not the new ones. Which cryptos would be good to invest $50 in and become a millionaire? Or is that too unrealistic?

 

[jaygreenb]

For sure. And don’t get me wrong I’d love to become a millionaire so I could buy more commodities! But I don’t have much access to crypto certainly not the new ones. Which cryptos would be good to invest $50 in and become a millionaire? Or is that too unrealistic?

50 into a million is unrealistic haha I have been doing this a while and have seen people who have done really well and also people who get blown out. I wouldn't chase the fast money, for every one person that hits it, there are a 1000 who don't. Being new you aren't going to have the knowledge and discipline on when to get in and out. Its really a crap shoot on what scam coin is going to get momentum too, better to just focus on what it legit. Play the long game, over this next decade this whole industry could easily 100x. There are very solid projects that over the long term will give you the 20-100x, it just takes time. Personally I believe we are entering the last leg of the bull market, which could go anywhere from 2-6 months before we get a large extended correction. The last leg is also the most parabolic. If I was in your shoes starting now is, I would make your initial buys and hold. Set a small weekly buy as well. If the market goes really parabolic sell some off but keep that money dedicated to be reinvested when there is a 50% + correction. The real money is made buying in the bear market. When we do enter the bear market really focus on getting as much capital in as possible. Do that and be consistent over time, you will make a lot of money. Just give it at minimum 4yrs+

 

[SargeMaximus]

50 into a million is unrealistic haha I have been doing this a while and have seen people who have done really well and also people who get blown out. I wouldn't chase the fast money, for every one person that hits it, there are a 1000 who don't. Being new you aren't going to have the knowledge and discipline on when to get in and out. Its really a crap shoot on what scam coin is going to get momentum too, better to just focus on what it legit. Play the long game, over this next decade this whole industry could easily 100x. There are very solid projects that over the long term will give you the 20-100x, it just takes time. Personally I believe we are entering the last leg of the bull market, which could go anywhere from 2-6 months before we get a large extended correction. The last leg is also the most parabolic. If I was in your shoes starting now is, I would make your initial buys and hold. Set a small weekly buy as well. If the market goes really parabolic sell some off but keep that money dedicated to be reinvested when there is a 50% + correction. The real money is made buying in the bear market. When we do enter the bear market really focus on getting as much capital in as possible. Do that and be consistent over time, you will make a lot of money. Just give it at minimum 4yrs+

Hmmm yeah that’s pretty much my plan although I plan to hold my HUT shares till bitcoin goes parabolic then sell and wait for the bottom (I know you can’t time it perfect but you can get close).

And yeah for sure I’m a long term investor that’s why I like commodities but I’ll take the parabolic bitcoin funds and put that into my commodities then we’ll see. I believe commodities will go at least 10x from here and a few of mine are already over 200%

 

[Reyaj]

50 into a million is unrealistic haha I have been doing this a while and have seen people who have done really well and also people who get blown out. I wouldn't chase the fast money, for every one person that hits it, there are a 1000 who don't. Being new you aren't going to have the knowledge and discipline on when to get in and out. Its really a crap shoot on what scam coin is going to get momentum too, better to just focus on what it legit. Play the long game, over this next decade this whole industry could easily 100x. There are very solid projects that over the long term will give you the 20-100x, it just takes time. Personally I believe we are entering the last leg of the bull market, which could go anywhere from 2-6 months before we get a large extended correction. The last leg is also the most parabolic. If I was in your shoes starting now is, I would make your initial buys and hold. Set a small weekly buy as well. If the market goes really parabolic sell some off but keep that money dedicated to be reinvested when there is a 50% + correction. The real money is made buying in the bear market. When we do enter the bear market really focus on getting as much capital in as possible. Do that and be consistent over time, you will make a lot of money. Just give it at minimum 4yrs+

So should we sell before the correction?

 

[BackInTheGame78]

So should we sell before the correction?

What correction are you talking about? Sell now at your own peril.

Fool's errand IMO, any dips are going to be short lived and followed by impulses higher that will run fast and hard.

 

[jaygreenb]

So should we sell before the correction?

Not now, think the market cap of crypto is about to go parabolic. It's really up to you if you want take some off the table at some point. If it gets overheated I will personally will take some off . Really have to just see how things play out but probably start evaluating in a few months, if I had the guess this next run gets the total crypto market cap to 7-10T. You also have to take in consideration taxes, if you are in California you are going to have a large tax bill selling/trading especially if it is considered short term gains. One thing I have done is set up a ROTH and hold crypto within it, so you can sell/trade without paying the cap gains. I have a good chunk in there

 

[Reyaj]

What correction are you talking about? Sell now at your own peril.

Fool's errand IMO, any dips are going to be short lived and followed by impulses higher that will run fast and hard.

Yeah that's what I was thinking, but I was reading one of your other posts in here saying we are in a bull market which will change.

 

[BackInTheGame78]

Yeah that's what I was thinking, but I was reading one of your other posts in here saying we are in a bull market which will change.

It will but not anytime soon

 

[Bingo-Player]

Many of the alts are soaring right now and outperforming BTC...

Is this not a concern ?

Surely there is only X amount of market cap for crypto at the moment given an awful lot of coins have virtually no application and are based on pure speculation ( btc included )

I'm just wondering where exactly the tipping point is , apparently over 5000 alt's out there how thin exactly can this market cap be spread ?

My feeling is you have a lot of people now just chasing the % gains ..... i wonder how long its going to take for the soft money to realise the gains in btc are too slow and something like " shiba inu" is out performing it given the random rises in alts we are seeing...... its already happening

Theres no doubt we are in the biggest crypto bull market in living memory , i'm just curious to see how much of this money stays in the market cap when things inevitably take a downturn

Crypto's bullish sentiment is largely powered by viral fomo and speculation , but i think that's going to work the other way too in a bear market

I've said it before and i will say it again the crypto market to me looks like a powder keg waiting to go off

I would urge anyone in decent profit to cash the f@ck out

 

[BackInTheGame78]

Is this not a concern ?

Surely there is only X amount of market cap for crypto at the moment given an awful lot of coins have virtually no application and are based on pure speculation ( btc included )

I'm just wondering where exactly the tipping point is , apparently over 5000 alt's out there how thin exactly can this market cap be spread ?

My feeling is you have a lot of people now just chasing the % gains ..... i wonder how long its going to take for the soft money to realise the gains in btc are too slow and something like " shiba inu" is out performing it given the random rises in alts we are seeing...... its already happening

Theres no doubt we are in the biggest crypto bull market in living memory , i'm just curious to see how much of this money stays in the market cap when things inevitably take a downturn

Crypto's bullish sentiment is largely powered by viral fomo and speculation , but i think that's going to work the other way too in a bear market

I've said it before and i will say it again the crypto market to me looks like a powder keg waiting to go off

I would urge anyone in decent profit to cash the f@ck out

Not at all, it's just a sign the crypto market is maturing.

We are not even close to the top of this bull run yet. As in BTC will likely end up somewhere between 150-290K and there are some very clear historical data points that can be used to tell when we are near the top based on the prior two bull runs which followed the same patterns. This run has followed the same pattern in bottoming out and getting to where we are currently.

Anyone cashing out now is basically commiting monetary suicide.

 

[Zimbabwe]

@BackInTheGame78
what are your yearly returns like? I'm seeing 300% yearly returns on here is that really true?

 

[RBK]

Bought HEX a month back, might have been a mistake.. oh well! LOL

 

[Bingo-Player]

@BackInTheGame78
what are your yearly returns like? I'm seeing 300% yearly returns on here is that really true?
View attachment 7367

True until people decide they want to cash out , or another country bans it and all hell breaks loose

 

[Bingo-Player]

Not at all, it's just a sign the crypto market is maturing.

We are not even close to the top of this bull run yet. As in BTC will likely end up somewhere between 150-290K and there are some very clear historical data points that can be used to tell when we are near the top based on the prior two bull runs which followed the same patterns. This run has followed the same pattern in bottoming out and getting to where we are currently.

Anyone cashing out now is basically commiting monetary suicide.

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

 

[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?
View attachment 7367

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.