Crypto trading

[Bible_Belt]

@Fruitbat @Bible_Belt
Just to make a point, here is a DCA calc at 1yr, 3yr and 5yrs for $100week. Even if they started a year ago when the market were near the peak, they would only be down - 4.87%, 3yr +175%, 5yr +395%. All that is required to do well over time is be consistent, have patience and don't chase the overnight 1000x meme coins. Most new participants chase pumps and don't buy when they market is down. DCA for most people takes that issue away.

https://dcabtc.com?sd=2021-05-22&sda=1_year&f=weekly&d=1_year&ac=10000&c=false

https://dcabtc.com?sd=2019-05-22&sda=3_years&f=weekly&d=3_years&ac=10000&c=false

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

25 years ago as a stockbroker I was taught to pitch dollar cost averaging to the clients to whom we had just sold some piece of sh1t stock that had inevitably gone down. If you have ever seen the old movie Boiler Room, I worked in one of those places. DCA wasn't much different than the other canned pitches. "You have to ask your wife? Who wears the pants in your family?" was my favorite.

 

[jaygreenb]

25 years ago as a stockbroker I was taught to pitch dollar cost averaging to the clients to whom we had just sold some piece of sh1t stock that had inevitably gone down. If you have ever seen the old movie Boiler Room, I worked in one of those places. DCA wasn't much different than the other canned pitches. "You have to ask your wife? Who wears the pants in your family?" was my favorite.

Almost every high net worth investor who is actually successful recommends dollar cost averaging in and out of positions. Otherwise you are basically trying to be a trader and time markets. Very few people can time tops and bottoms. Especially on a high volatility asset, it smooths out the price movements. Not sure what point you are trying to make comparing it to penny stocks. 99% of people should be dollar cost averaging. it just needs to be in the right assets. Just because your friend used it as part of his scam doesn't mean it isn't the right approach.

 

[zinc4]

25 years ago as a stockbroker I was taught to pitch dollar cost averaging to the clients to whom we had just sold some piece of sh1t stock that had inevitably gone down. If you have ever seen the old movie Boiler Room, I worked in one of those places. DCA wasn't much different than the other canned pitches. "You have to ask your wife? Who wears the pants in your family?" was my favorite.

Right now is prime buying time for good fundamental microcaps only that are literally at the very bottom. Because the reall good ones will survive this current bear cycle and easily X10 to even X500 plus in value once the market starts rebounding.

Don't buy ANYTHING right now above a 100 million marketcap....i don't care how good fundamentally it is. Only buy 3 mil usd and lower promising microcaps. I literally got rich doing this in 2018 through 2019 and then selling them...some for insane gains ...during the latest bullmarket. One was telcoin for example. Another was VRA. Both were great fundamentally but were dirt cheap in early 2019.

Only suckers invest in big caps that other people have already made fortunes on. And the bigger they are the harder they fall. Look at the recent Luna situation for example.

 

[BackInTheGame78]

Right now is prime buying time for good fundamental microcaps only that are literally at the very bottom. Because the reall good ones will survive this current bear cycle and easily X10 to even X500 plus in value once the market starts rebounding.

Don't buy ANYTHING right now above a 100 million marketcap....i don't care how good fundamentally it is. Only buy 3 mil usd and lower promising microcaps. I literally got rich doing this in 2018 through 2019 and then selling them...some for insane gains ...during the latest bullmarket. One was telcoin for example. Another was VRA. Both were great fundamentally but were dirt cheap in early 2019.

Only suckers invest in big caps that other people have already made fortunes on. And the bigger they are the harder they fall. Look at the recent Luna situation for example.

Be careful...just cause an alt went down 90% doesn't mean it can't go down another 90% from here.

There is nothing looking left in the charts to suggest this is a bottom.

 

[jaygreenb]

Be careful...just cause an alt went down 90% doesn't mean it can't go down another 90% from here.

There is nothing looking left in the charts to suggest this is a bottom.

If we follow previous patterns, we won't bottom out until the fall/winter. Don't think there is a rush to buy anything right now

 

[zinc4]

Be careful...just cause an alt went down 90% doesn't mean it can't go down another 90% from here.

There is nothing looking left in the charts to suggest this is a bottom.

Yeah that's why i only mess with tiny microcaps. They are already essentially at the bottom. I even buy sub 1 million dollar marketcap projects that i think have some potential. Some end up being complete scams while some make me huge Xs.

 

[Reyaj]

Listen I'll admit I'm down right now owning both BTC and ETH but I think it comes down to whether you believe in the viability of these cryptos... Amazon was crap for a long time in the early going but what the company was doing made sense for the future.. Look at it now... I think the same of crypto so now is probably a good time to load up (within reason of course)

 

[jaygreenb]

Listen I'll admit I'm down right now owning both BTC and ETH but I think it comes down to whether you believe in the viability of these cryptos... Amazon was crap for a long time in the early going but what the company was doing made sense for the future.. Look at it now... I think the same of crypto so now is probably a good time to load up (within reason of course)

Most people first get into crypto during a bull market, the price action is always what draws people in initially. This is also not the best time to get in because there is usually some correction on the way after a large run up. Most people do not first enter in a bear market, just the psychology of it. If you believe in the asset long term, the bear market is when you set yourself up for future gains during the next bull run. I came in june of 2017 btc was round 2k, eth 300. I went up a bunch of money, then at the lowest was down around 50% of my cost basis end of 2018. I also spent 18/19/20 accumulating and really learning about this space. The only people who stuck around were the ones who really understood it, got rid of a lot of noise. Just keep learning, don't fomo into anything and slowly accumulate the legit projects. No rush right now

 

[Reyaj]

Most people first get into crypto during a bull market, the price action is always what draws people in initially. This is also not the best time to get in because there is usually some correction on the way after a large run up. Most people do not first enter in a bear market, just the psychology of it. If you believe in the asset long term, the bear market is when you set yourself up for future gains during the next bull run. I came in june of 2017 btc was round 2k, eth 300. I went up a bunch of money, then at the lowest was down around 50% of my cost basis end of 2018. I also spent 18/19/20 accumulating and really learning about this space. The only people who stuck around were the ones who really understood it, got rid of a lot of noise. Just keep learning, don't fomo into anything and slowly accumulate the legit projects. No rush right now

Do you see the currency itself being mainstream globally one day?

 

[jaygreenb]

Do you see the currency itself being mainstream globally one day?

Bitcoin and a handful of others, yes. Majority will end up being worthless though

 

[VirtuousD]

Right now is prime buying time for good fundamental microcaps only that are literally at the very bottom. Because the reall good ones will survive this current bear cycle and easily X10 to even X500 plus in value once the market starts rebounding.

Don't buy ANYTHING right now above a 100 million marketcap....i don't care how good fundamentally it is. Only buy 3 mil usd and lower promising microcaps. I literally got rich doing this in 2018 through 2019 and then selling them...some for insane gains ...during the latest bullmarket. One was telcoin for example. Another was VRA. Both were great fundamentally but were dirt cheap in early 2019.

Only suckers invest in big caps that other people have already made fortunes on. And the bigger they are the harder they fall. Look at the recent Luna situation for example.

This mentality is only smart during a bull market, you shouldn't be touching microcaps with a 50 foot totem pole during this sort of market.

 

[DEEZEDBRAH]

@Fruitbat @Bible_Belt
Just to make a point, here is a DCA calc at 1yr, 3yr and 5yrs for $100week. Even if they started a year ago when the market were near the peak, they would only be down - 4.87%, 3yr +175%, 5yr +395%. All that is required to do well over time is be consistent, have patience and don't chase the overnight 1000x meme coins. Most new participants chase pumps and don't buy when they market is down. DCA for most people takes that issue away.

https://dcabtc.com?sd=2021-05-22&sda=1_year&f=weekly&d=1_year&ac=10000&c=false

https://dcabtc.com?sd=2019-05-22&sda=3_years&f=weekly&d=3_years&ac=10000&c=false

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

That's fire. Consistent DCA is solid. I can't time bottom or top. I can approximate it. I'm still heavily in a cash position. More then I'd like BUT given the landscape and war, I don't know what's expect.

Nice share.

 

[Reyaj]

Dipping like nuts... Just bought more

 

[Reyaj]

Should I buy 20k or so of this at these all time lows? It's gotten rebound at some point right...

 

[jaygreenb]

Should I buy 20k or so of this at these all time lows? It's gotten rebound at some point right...

I bought some, just taking it slow though. A lot of leverage is getting washed out and few big funds are blowing up. Can certainly drop more but personally like this area to start some small buys. If it gets into the teens will ramp it up

 

[BackInTheGame78]

If it breaks 20K could be a series of liquidations that follow taking it down much lower

 

[jaygreenb]

Should I buy 20k or so of this at these all time lows? It's gotten rebound at some point right...

This guy puts out some really well thought out material on current market conditions, he just posted this. He has been an OG in the space for a long time

Floaters

(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor…

cryptohayes.medium.com

 

[Reyaj]

This guy puts out some really well thought out material on current market conditions, he just posted this. He has been an OG in the space for a long time

Floaters

(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor…

cryptohayes.medium.com

Thanks for sharing.. I gave it the college try to read but he was stuck on the rowing analogy a little too long

 

[BackInTheGame78]

BTC Likely heading to 12K to complete the awkward "M" pattern by the end of the month and potentially bottoms around 10K, IMHO.

Will probably consolidate in that range for a bit and then start a slow ascent...once the stock market starts turning around after bottoming out I would expect a meteoric rise.

 

[DEEZEDBRAH]

BTC Likely heading to 12K to complete the awkward "M" pattern by the end of the month and potentially bottoms around 10K, IMHO.

Will probably consolidate in that range for a bit and then start a slow ascent...once the stock market starts turning around after bottoming out I would expect a meteoric rise.

I welcome it. Not to be morbid but I thought the fed was going 100 points. Expected 75 after the inflation report.

What's your play? I'm planning to accumulate more and DCAing all day. I can't time the bottom. Tbh I never thought retail would get this sort of opportunity again.

What's most shocking to me is how we binance and cardano is holding. Holding decently in contrast to btc and eth in the short term.

I am OK with a crash. Ready to deploy more cash. I NEVER expected thus opportunity. I sm happy I didn't go full degen sooner month or so ago. I'm in a cash position ready to deploy cash. I want several positions. There are stocks I want too. Just biding my time and buying on certain dip price points.

Has your approach changed?