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Reyaj

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Good luck if you are waiting for under 38K...not sure it ever gets back there this year
It does look like its on a good run but I think it's all controlled by speculation. The next negative news story on it and we'll see a reduction.

Most of the news is just noise, especially when it is coming from mainstream sources. I wouldn't pay much attention to it, they are either behind or it's a story to shake you out of your position. Don't try to pick up pennies in front of a steam roller. If you believe in it long term I would start building out your positions, this stuff can move fast and you can end up FOMO ing in a higher price when there is more short term downside risk. Not sure we fall into the 30's again
I feel like 90% of it is controlled by the news...
 

BackInTheGame78

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It does look like its on a good run but I think it's all controlled by speculation. The next negative news story on it and we'll see a reduction.



I feel like 90% of it is controlled by the news...
Nah bro....you have a lot to learn. Don't invest until you learn it.
 

jaygreenb

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It does look like its on a good run but I think it's all controlled by speculation. The next negative news story on it and we'll see a reduction.



I feel like 90% of it is controlled by the news...
Stories usually come out to support a move that was already happening regardless, large traders can sometimes use them to exaggerate the direction it was already heading. Just my observation.
 

Reyaj

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Nah bro....you have a lot to learn. Don't invest until you learn it.
Lol alright bro. Friendly bet for bragging rights.. I say it drops below $40 within a month's time frame from now. Loser admits they are a novice ;)
 

BackInTheGame78

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Lol alright bro. Friendly bet for bragging rights.. I say it drops below $40 within a month's time frame from now. Loser admits they are a novice ;)
Hahaha, I mean anything can happen but neither the on chain metrics not the current charts support that notion. There is a much better chance that it is over $50K by that point than under $40K.
 

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jaygreenb

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Market is about to catch fire!! Alt coins ready to rocket....

Next leg of the bull market is going to be bananas. Would suggest starting to think about how and where you are pulling some profits off the table over the next 3-6months. Unless you are fine sitting through another potential 1-2yr bear market and riding a 80%+ drawdown. Didn't sell any last go around in 2017/18, not doing that again this time. Of course you want to have a stack you never sell just in case it keeps going.
 

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Next leg of the bull market is going to be bananas. Would suggest starting to think about how and where you are pulling some profits off the table over the next 3-6months. Unless you are fine sitting through another potential 1-2yr bear market and riding a 80%+ drawdown. Didn't sell any last go around in 2017/18, not doing that again this time. Of course you want to have a stack you never sell just in case it keeps going.
Nope...I will get out and wait for local bottoms...I have a very good strategy that works in those situations based on 3 min/15 min Heikhin Ashi moving average ribbons with well defined entry/exit points.

Get in low, dump out high and then rinse and repeat.

Pretty much what I did on the ride to the bottom from when I got in during Mid May...my second day in was the huge crash...talk about baptism by fire.
 

jaygreenb

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Nope...I will get out and wait for local bottoms...I have a very good strategy that works in those situations based on 3 min/15 min Heikhin Ashi moving average ribbons with well defined entry/exit points.

Get in low, dump out high and then rinse and repeat.

Pretty much what I did on the ride to the bottom from when I got in during Mid May...my second day in was the huge crash...talk about baptism by fire.
To each their own, just be aware and make sure that strategy works on a one to two year down trend. I plan on buying back as well but wouldn't be until we were deep into the bear market. If patterns repeated that would be a year out from the top.
 

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To each their own, just be aware and make sure that strategy works on a one to two year down trend. I plan on buying back as well but wouldn't be until we were deep into the bear market. If patterns repeated that would be a year out from the top.
I will wait for the top and then start utilizing the strategy I have been using as it went down the past several months.

I have pretty close to perfected it. Basically it is an accumulation strategy to accumulate tokens, sell to make money near the top and then re-accumulate lower to get more tokens and then wait for it to drop more and then repeat...

Even in bear markets, it won't go straight down, there will be days it goes up, then continues it's downtrend.
 

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To each their own, just be aware and make sure that strategy works on a one to two year down trend. I plan on buying back as well but wouldn't be until we were deep into the bear market. If patterns repeated that would be a year out from the top.
@jaygreenb I was actually considering buying about 3500 CAKE and staking it...very high annu returns between 68-94%, and no risk of impermanent loss which is the only real risk in staking.

That would generate huge amounts of passive income(1 year estimated income earned is 91K)...in a bear market the value would go down but the overall forecast for CAKE is very bullish and it's projected to be worth $150 in 5 years...is it worth long term staking at those annual returns?
 

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I will wait for the top and then start utilizing the strategy I have been using as it went down the past several months.

I have pretty close to perfected it. Basically it is an accumulation strategy to accumulate tokens, sell to make money near the top and then re-accumulate lower to get more tokens and then wait for it to drop more and then repeat...

Even in bear markets, it won't go straight down, there will be days it goes up, then continues it's downtrend.
Will definitely be choppy filled with pumps, drops and many narratives. Depending where you are just make sure you don't have a huge tax bill from trading in 2021 that you need to sell coins off that dropped substantially in 2022, happened to a lot of people last cycle. Take the cash out for taxes when it is at high valuations. Would have to sell off a larger amount of holdings if there is a significant price drop.
 

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@jaygreenb I was actually considering buying about 3500 CAKE and staking it...very high annu returns between 68-94%, and no risk of impermanent loss which is the only real risk in staking.

That would generate huge amounts of passive income(1 year estimated income earned is 91K)...in a bear market the value would go down but the overall forecast for CAKE is very bullish and it's projected to be worth $150 in 5 years...is it worth long term staking at those annual returns?
I haven't played around with DEFI just haven't had the time to really dig in that much but do have some experience with mining with a masternode last cycle. The big thing with that is if the protocol can make it though the bear market and can maintain price levels to even make it worthwhile. The project I did dropped like 98%, made mining a complete waste of resources and equipment. A little more involved than staking but some similar themes.

If you really want to dig into DEFI, I would suggest joining this substack. On the surface looks a little goofy but these are some of the most legit people in the space. I subscribe to both substacks and the info they provide for $100 yr is well worth it.

https://defieducation.substack.com/

https://bowtiedbull.substack.com/

https://twitter.com/BowTiedBull

Here is their twitter too, they are building a whole anon community with some really talented people, lots of good info
 

jaygreenb

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@jaygreenb I was actually considering buying about 3500 CAKE and staking it...very high annu returns between 68-94%, and no risk of impermanent loss which is the only real risk in staking.

That would generate huge amounts of passive income(1 year estimated income earned is 91K)...in a bear market the value would go down but the overall forecast for CAKE is very bullish and it's projected to be worth $150 in 5 years...is it worth long term staking at those annual returns?
68-94% doesn't seem sustainable long term, but this space is wild right now so could get a good run out of it. Just a lot of this stuff gets washed out in a downturn while it works in a bull market
 

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Stories usually come out to support a move that was already happening regardless, large traders can sometimes use them to exaggerate the direction it was already heading. Just my observation.
Typically if it's an overreaction to some nonsense, the price correction only lasts a few days before it falls back to fundamentals.
 

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Looks like a correction to around 42K coming....then should kick off next run up to between 50-55K
 

jaygreenb

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Looks like a correction to around 42K coming....then should kick off next run up to between 50-55K
Looks that way. If you want to follow a guy who gives great big picture cycle perspective, watch this video. He has been putting out videos every few months, been spot on for years.

 

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Looks that way. If you want to follow a guy who gives great big picture cycle perspective, watch this video. He has been putting out videos every few months, been spot on for years.

Pentoshi is really good with his chart predictions as well on Twitter as is The Crypto Dog...
 
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