Crypto trading

[jaygreenb]

I bought in back when it was 15k and rode it to 65k… I’m not new to it just cautious and don’t trust it

Just a suggestion, spend a little more time learning about it, might make you look at it a little more than just a short term trade. If you want some more material, happy to send over. To start getting the large multiples you really need to be in for longer periods of time, really starts accelerating at 4-8yrs. Shorter time ranges you are in a volatility range of your purchase price.

 

[SargeMaximus]

Just a suggestion, spend a little more time learning about it, might make you look at it a little more than just a short term trade. If you want some more material, happy to send over. To start getting the large multiples you really need to be in for longer periods of time, really starts accelerating at 4-8yrs. Shorter time ranges you are in a volatility range of your purchase price.

I’ve watched lots of YouTube videos on it. I was a true believer. But when the stock market dipped earlier this year around February and bitcoin did too. I no longer believed the narrative that said it would protect against such an event. So actions speak louder than words in this case the price action

 

[jaygreenb]

I’ve watched lots of YouTube videos on it. I was a true believer. But when the stock market dipped earlier this year around February and bitcoin did too. I no longer believed the narrative that said it would protect against such an event. So actions speak louder than words in this case the price action

That's a pretty ridiculous conclusion, there is no way to control what other market participants do in the short term.

 

[SargeMaximus]

That's a pretty ridiculous conclusion, there is no way to control what other market participants do in the short term.

What conclusion are you referring to? I been right so far.

 

[Reyaj]

For tax purposes are gains/losses declared only on sales of crypto or in general?

Like in stocks you only declare a gain or loss once it's sold, is it the same here?

 

[BackInTheGame78]

For tax purposes are gains/losses declared only on sales of crypto or in general?

Like in stocks you only declare a gain or loss once it's sold, is it the same here?

Yes

 

[DEEZEDBRAH]

Exactly how I look at it, tuition. In a bull market a lot of holes in your game/understanding of markets is washed over by the exponential price action. It is easy to feel like a genius, at some point we all get exposed by either taking too much risk or lack of knowledge. I am thankful I was able to learn those lessons when I did and not later down the line. After that loss it made me semi obsessed with understanding and learning about the pieces I was missing, market cycles and global macro. Sounds like you have had some similar experiences and are on the same path. Always keep learning and adjusting.

I am annoyed but learning nonstop.

A emergency fund that's 110% liquid is necessary especially today. The ROI is trash but it serves as a purpose.

LTC was annoying. ADA has replaced that annoyance over the years. While up on both I no longer accumulate once a position stalls out. Similar to sports betting, I look for lopsided betting odds not getting it right. Annoyed if I had thrown ADA bag all on Sol, mana, enj etc but... it is what it is.

The play I think now is loading up on btc on the dip when ALTs run. I am still trying to learn more and find resources but. Curious what resources and info you follow? I watch twitter. Few YouTube channels. I want to jump on mastermind groups.

 

[DEEZEDBRAH]

It's nowhere near it right now and anyone who claims that there will be one at this point is basing it on the past and not anything it's showing currently. Some are expecting a lengthened cycle lasting well into next year or even a possible super cycle. On chain data is extremely bullish, whales are starting to accumulate heavily again and supply shock is getting ready to happen soon.

Even with a bear market, most analysis points to it bottoming out around 60K, which is higher than what the price is currently.

I hope it goes parabolic and it crashes in epic fashion. I was expecting 100k USD BTC but I think it runs late due to manipulation.

Curious about what your exit strategy is? Tbh there's positions I hold and won't ever sell.

 

[BackInTheGame78]

I hope it goes parabolic and it crashes in epic fashion. I was expecting 100k USD BTC but I think it runs late due to manipulation.

Curious about what your exit strategy is? Tbh there's positions I hold and won't ever sell.

Will be looking for certain Fib levels which have been market tops the last few times...likely will dump out a week early since this info is more well known now.

I think it's going well over 100K...and I think alt season is going to leave people shocked at how epic it ends up being.

 

[wifehunter]

Alts bleed out into Bitcoin.

 

[DEEZEDBRAH]

Will be looking for certain Fib levels which have been market tops the last few times...likely will dump out a week early since this info is more well known now.

I think it's going well over 100K...and I think alt season is going to leave people shocked at how epic it ends up being.

I have less than a dozen positions but I go ALL IN on where I found value.

Agreed with epic at runs if btc goes parabolic.

You do a lot of TA? This is like another day job.

 

[DEEZEDBRAH]

Alts bleed out into Bitcoin.

Sheeple. People jump on at the top. Alts will get their moment. But I see it mostly as a gamble play. My btc position I won't ever touch.

 

[BackInTheGame78]

Alts bleed out into Bitcoin.

Tell ETH, SOL and AVAX that...they are crushing BTC right now when paired up

 

[SargeMaximus]

Tell ETH, SOL and AVAX that...they are crushing BTC right now when paired up

Yup. I bought some ETH this morning

 

[wifehunter]

Tell ETH, SOL and AVAX that...they are crushing BTC right now when paired up

All centralized crap, too. Which mostly end in massive dumps.

Bitcoin is #1 ....second place is first loser.

 

[BackInTheGame78]

All centralized crap, too. Which mostly end in massive dumps.

Bitcoin is #1 ....second place is first loser.

Bitcoin Maxi's that act as if it's the only play are actually the losers...as in losing out on a lot of money.

 

[wifehunter]

Bitcoin Maxi's that act as if it's the only play are actually the losers...as in losing out on a lot of money.

Oh you're right, Bitcoin is the loser.

Thanks, but I do my own research. I've been in the market for over 5 years, and have been watching Bitcoin for 11 years.

Alts always get rekt in the long run.

Go do some homework, noob.

 

[jaygreenb]

I am annoyed but learning nonstop.

A emergency fund that's 110% liquid is necessary especially today. The ROI is trash but it serves as a purpose.

LTC was annoying. ADA has replaced that annoyance over the years. While up on both I no longer accumulate once a position stalls out. Similar to sports betting, I look for lopsided betting odds not getting it right. Annoyed if I had thrown ADA bag all on Sol, mana, enj etc but... it is what it is.

The play I think now is loading up on btc on the dip when ALTs run. I am still trying to learn more and find resources but. Curious what resources and info you follow? I watch twitter. Few YouTube channels. I want to jump on mastermind groups.

Most of the people I follow are on twitter and youtube, there are a lot of them but here is some of what I do

Subscription at Real Vision Finance, good for overall macro info and how crypto ties into it. Believe the crypto channel portion is free

Subscribe to this substack, https://bowtiedbull.substack.com/ these guys have been so on point and make several posts a week about everything going on in the market since it moves so fast. Well worth the $100yr they have one specifically focused on DEFI too, haven't had the time to really dig into that though

Francis Hunt, has two channels, market sniper and crypto sniper, On both youtube and twitter. Puts out a lot of good content on big macro picture and short term trading.

Listen to a lot of podcasts throughout the week too What bitcoin did, Investors podcast, Tim Ferris, All-In

Some good follows and interviews to watch with Jeff Booth, Balaji Srinivasan, Dan Tapeiro, Raoul Paul, Pomp, Lyn Alden, Will Clement, Willy Woo

I pull pieces of info from a lot of people. I have found that the Macro Investment guys who have been in crypto for 4yrs+ give the best big picture perspectives. Crypto only guys, are missing a lot of pieces. Also have to have the experience of all parts of the 4yr cycle.

 

[BackInTheGame78]

Oh you're right, Bitcoin is the loser.

Thanks, but I do my own research. I've been in the market for over 5 years, and have been watching Bitcoin for 11 years.

Alts always get rekt in the long run.

Go do some homework, noob.

Who is planning to hold when the market dumps? Why would anyone even hold BTC when it goes from 180K or whatever the top is down to 60K? Makes no sense.

I don't care what an alt is going to do 6 years from now. I care what it will do 3 months from now. And there will be a whole lot of them that outperform BTC

 

[wifehunter]

Who is planning to hold when the market dumps? Why would anyone even hold BTC when it goes from 180K or whatever the top is down to 60K? Makes no sense.

I don't care what an alt is going to do 6 years from now. I care what it will do 3 months from now. And there will be a whole lot of them that outperform BTC

Pure hype with zero fundamentals.