Crypto trading

[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.

 

[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.