Where are the bitcoin lovers now?

[jaygreenb]

The conspiracy theory right now is that the reason the feds don't care about printing so much money is that they are planning to spin it into fedcoin. China already has digital yuan. People think of crypto as untraceable, but when the government starts running it, then crypto will be the ultimate financial tracking tool to monitor citizens.

They have to keep printing or the whole system falls apart. They will definitely roll out a new monetary system but will have many of the same issues as before plus the surveillance, they all keep parroting a new bretton woods. This is something completely different than bitcoin. Everyone knows bitcoin is traceable, all transactions are on a public blockchain. The key features are the ability to self custody and protection from the insane amounts of stimulus. One of the major roles it will play in the future is the ability to leave any jurisdiction that isn't treating you well.

 

[Bible_Belt]

How low will it go this time? Approaching the 30k price level, below which everyone who bought btc this year will be in the red.

 

[PRW63]

They have to keep printing or the whole system falls apart. They will definitely roll out a new monetary system but will have many of the same issues as before plus the surveillance, they all keep parroting a new bretton woods. This is something completely different than bitcoin. Everyone knows bitcoin is traceable, all transactions are on a public blockchain. The key features are the ability to self custody and protection from the insane amounts of stimulus. One of the major roles it will play in the future is the ability to leave any jurisdiction that isn't treating you well.

I don't like that excessive printing either. But it doesn't mean it will fall apart that easy either. One thing that should teach people is trading in the market. Nothing is based on "math". Nothing is based on "reality". If that were true you wouldn't have a car company that barely sells any cars have better stock prices than car companies that sell millions of cars. Money is worth whatever people think it is worth. It is all emotional. Just like a certain car company's stock prices are based on emotion. If someone emotionally believed that fake Monopoly Money was actually worth what is printed on it,...they would accept it and you could buy something from them using it.

 

[jaygreenb]

I don't like that excessive printing either. But it doesn't mean it will fall apart that easy either. One thing that should teach people is trading in the market. Nothing is based on "math". Nothing is based on "reality". If that were true you wouldn't have a car company that barely sells any cars have better stock prices than car companies that sell millions of cars. Money is worth whatever people think it is worth. It is all emotional. Just like a certain car company's stock prices are based on emotion. If someone emotionally believed that fake Monopoly Money was actually worth what is printed on it,...they would accept it and you could buy something from them using it.

My point was if they stop the all stimulus the bottom falls out on the economy, they would rather devalue the dollar than let that happen. Valuations for everything do not make sense right now because we do not have a sound unit that measures it.

 

[jaygreenb]

How low will it go this time? Approaching the 30k price level, below which everyone who bought btc this year will be in the red.

Who knows, it's a long term game, the bulk of my purchases were between 2-6k. I'll start dollar cost averaging if we break into the 20's.

 

[Bible_Belt]

Who knows, it's a long term game, the bulk of my purchases were between 2-6k. I'll start dollar cost averaging if we break into the 20's.

Dollar cost averaging is an old stockbroker sales pitch to get a client to buy more of a losing position. It doesn't apply to you, being in the green.

If 30k is the key level, I would look for the 5 wave eliot cycle and see where it consolidates.

 

[PRW63]

My point was if they stop the all stimulus the bottom falls out on the economy, they would rather devalue the dollar than let that happen. Valuations for everything do not make sense right now because we do not have a sound unit that measures it.

That stimulas isn't helping anything I have paid way way way more into the system than what I got back in the stimulas. The amount of the stimulas was about the same as an aveage text refund.

 

[PRW63]

Dollar cost averaging is an old stockbroker sales pitch to get a client to buy more of a losing position. It doesn't apply to you, being in the green.

If 30k is the key level, I would look for the 5 wave eliot cycle and see where it consolidates.

DCA has never saved me in any trade. In the best situation in may only have reduced the size of the loss slightly.

 

[jaygreenb]

That stimulas isn't helping anything I have paid way way way more into the system than what I got back in the stimulas. The amount of the stimulas was about the same as an aveage text refund.

The stimulus has kept the stock market propped up, companies alive and the unemployed solvent. Without it, the economy would look a lot different right now. This isn't about your personal experience.

 

[jaygreenb]

Dollar cost averaging is an old stockbroker sales pitch to get a client to buy more of a losing position. It doesn't apply to you, being in the green.

If 30k is the key level, I would look for the 5 wave eliot cycle and see where it consolidates.

If it breaks 30 we do not know where it settles at, so I will break up buys on the way down. Imagine 24/25ish and previous ATH areas. Most likely just set up an auto daily buy since I am not a trader.

 

[PRW63]

The stimulus has kept the stock market propped up, companies alive and the unemployed solvent. Without it, the economy would look a lot different right now. This isn't about your personal experience.

The post wasn't about my personal experience.

 

[Lookatu]

Crypto is a lot like dating and women. LOL

Guys bag holding have to play the long game now for awhile. We're not going to be able to get instant lays now like before.

Then comes the marriage or ltr commitment question and whether they are worthy or not...

 

[BackInTheGame78]

Crypto is a lot like dating and women. LOL

Guys bag holding have to play the long game now for awhile. We're not going to be able to get instant lays now like before.

Then comes the marriage or ltr commitment question and whether they are worthy or not...

The long game in crypto is like 2 or 3 months haha

 

[user252009]

The long game in crypto is like 2 or 3 months haha

Long term bitcoin holders will heavily disagree

 

[BackInTheGame78]

Long term bitcoin holders will heavily disagree

That's because they are doing it all wrong. Crypto isn't meant to be bought and held. It's meant to be bought, sold and then rebought lower, accumulating more and more for the same money.

Those people have cost themselves hundreds of thousands or most likely millions of dollars by simply holding it.

 

[jaygreenb]

That's because they are doing it all wrong. Crypto isn't meant to be bought and held. It's meant to be bought, sold and then rebought lower, accumulating more and more for the same money.

Those people have cost themselves hundreds of thousands or most likely millions of dollars by simply holding it.

This is pretty comical

 

[BackInTheGame78]

This is pretty comical

Is it? Funny I've increased my MATIC holdings by over 5K in the past 2 weeks by employing this strategy of buying low, selling high and then rebuying low again.

Using the same money.

SHIB by over 120 million same time frame, same strategy.

Share accumulation via the same dollars is the name of the game in crypto. Anyone saying otherwise should stick to stocks.

 

[jaygreenb]

Is it? Funny I've increased my MATIC holdings by over 5K in the past 2 weeks by employing this strategy of buying low, selling high and then rebuying low again.

Using the same money.

SHIB by over 120 million same time frame, same strategy.

Share accumulation via the same dollars is the name of the game in crypto. Anyone saying otherwise should stick to stocks.

Yes, it is. I'm glad you have had some success but you've been doing this for what, a few months? If you are over 30, unless you have made a few million and kept it over a sustained period of time there isn't much backing to all the bravado. Trading is not the way most successful people make or keep their money. A few do very well but they are also self aware enough to realize they don't know everything and don't do all the chest pounding.

 

[BackInTheGame78]

Yes, it is. I'm glad you have had some success but you've been doing this for what, a few months? If you are over 30, unless you have made a few million and kept it over a sustained period of time there isn't much backing to all the bravado. Trading is not the way most successful people make or keep their money. A few do very well but they are also self aware enough to realize they don't know everything and don't do all the chest pounding.

That's because they don't take the time to understand the technical analysis, understand chart patterns, and know the general market trends. Right now, I probably wouldn't be trying it...the altcoins are exploding or getting ready to. In a consolidation pattern? All day long. Easy money. Easy share accumulation.

I am a software engineer, this fits perfectly with how I think. When you see it trading between support and resistance and there has not been any breakout, it's pretty easy to do it.

Am I wrong sometimes? Sure...but the one thing in crypto is that it will always come back to test resistance at some point so you just be patient and wait for it to drop to you. It might only test it quickly before taking off again, but it will test it.

People think about it wrongly. They think dollars instead of shares/coins. Anytime you sell and buy back lower you end up with more shares/coins. It is simple math. Doesn't matter what the starting point was.

When you do it via major corrections, you are going to gain a boatload of shares.

There is absolutely no reason to be holding something when you know it is going to drop by a large amount when you can sell and buy back lower.

 

[jaygreenb]

That's because they don't take the time to understand the technical analysis, understand chart patterns, and know the general market trends. Right now, I probably wouldn't be trying it...the altcoins are exploding or getting ready to. In a consolidation pattern? All day long. Easy money. Easy share accumulation.

I am a software engineer, this fits perfectly with how I think. When you see it trading between support and resistance and there has not been any breakout, it's pretty easy to do it.

Am I wrong sometimes? Sure...but the one thing in crypto is that it will always come back to test resistance at some point so you just be patient and wait for it to drop to you. It might only test it quickly before taking off again, but it will test it.

People think about it wrongly. They think dollars instead of shares/coins. Anytime you sell and buy back lower you end up with more shares/coins. It is simple math.

When you do it via major corrections, you are going to gain a boatload of shares.

There is absolutely no reason to be holding something when you know it is going to drop by a large amount when you can sell and buy back lower.

You are missing a major piece of the puzzle. You are trying to accumulate shares of a new meme coin, if your goal isn't increase your holdings of BTC and ETH you are going to get wrecked, guaranteed. Do you even own BTC or ETH?