Crypto trading

[Zimbabwe]

I just hope bitcoin stays for this value for some decent amount of time so that I can invest without breaking the bank.

 

[jaygreenb]

I personally think solid alts like SOL, DOT, LINK, LUNA, ATOM, etc will outperform BTC over the next few years. Far more room to grow

Some of them probably will but some of them won't either. You also have to take in the consideration the additional risk associated with them as well. Bitcoin is a pretty much a finished product with as close to a 200% CAGR as it gets in this industry. Most of those coins are not a working product or if they are in a very limited capacity. They are basically tech start ups, a million things can happen where they won't get long term adoption, another competitor out performs, team falls apart etc. Every cycle has a new group of hot projects that wind up not performing a few years out. You are obviously a smart guy but you came in the same period I did in the previous cycle, right when alts started going absolutely nuts. The price action can distort your perception of where these projects actually are, I have been there. Everything looks great in a bull market. Getting a bad entry, a few of those projects end up not panning out, over trading creating a large tax liability, .holding on a 95% drawdown in an extended bear market. All those together with a few projects working out really well a lot of times do not beat just buy and hold of btc at 200%. Just something to keep in mind, I'm not sure you have been in the market when BTC takes over for a few months a sucks the whole market in with it. There are phases and cycles, it usually fairly small windows where alts massively out perform.

 

[Reyaj]

Do we think we will see another drop below 60 for BTC?

 

[BackInTheGame78]

Do we think we will see another drop below 60 for BTC?

Maybe but it won't get lower than 57 or 58 most likely

 

[Reyaj]

Maybe but it won't get lower than 57 or 58 most likely

How do you have your crypto allocated?

 

[Bingo-Player]

After doing some more research i no longer think the fed , fca and sec will ban bitcoin / crypto not whilst the market cap is so high anyway it would cause a tremendous economic shockwave the country can nigh afford right now

In saying that i don't believe for one second the gov is going to keep letting all this tax slide on it , too much lost income for the treasury to ignore

My feeling is when the times right the "system" will attack renegade cryptos by taxing the living sh1t out of the capital gains on them , heck they may even go further and tax it at source ......this will coincide with central banks releasing their own gov coins ready for mass societal integration

 

[BackInTheGame78]

After doing some more research i no longer think the fed , fca and sec will ban bitcoin / crypto not whilst the market cap is so high anyway it would cause a tremendous economic shockwave the country can nigh afford right now

In saying that i don't believe for one second the gov is going to keep letting all this tax slide on it , too much lost income for the treasury to ignore

My feeling is when the times right the "system" will attack renegade cryptos by taxing the living sh1t out of the capital gains on them , heck they may even go further and tax it at source ......this will coincide with central banks releasing their own gov coins ready for mass societal integration

I doubt it...the innovation cost would be too high...China handed the US a gift and I don't think they are planning to freely give it away.

They will tax it but will also not do so at the risk of hindering their advantages in this sector right now.

 

[jaygreenb]

After doing some more research i no longer think the fed , fca and sec will ban bitcoin / crypto not whilst the market cap is so high anyway it would cause a tremendous economic shockwave the country can nigh afford right now

In saying that i don't believe for one second the gov is going to keep letting all this tax slide on it , too much lost income for the treasury to ignore

My feeling is when the times right the "system" will attack renegade cryptos by taxing the living sh1t out of the capital gains on them , heck they may even go further and tax it at source ......this will coincide with central banks releasing their own gov coins ready for mass societal integration

The higher the certainty you are waiting for the less upside you are going to participate in. Of course they will tax it, just like any other asset. The problem they will have with over taxing it, because of it's properties of self custody and portability, people can leave and go to other jurisdictions that treat them better. I am currently looking at properties internationally and I know there are many others like me.

 

[BackInTheGame78]

The higher the certainty you are waiting for the less upside you are going to participate in. Of course they will tax it, just like any other asset. The problem they will have with over taxing it, because of it's properties of self custody and portability, people can leave and go to other jurisdictions that treat them better. I am currently looking at properties internationally and I know there are many others like me.

Yeah, I will be as well once I accumulate enough to do so comfortably.

If the US wants to keep having millionaires and billionaires leave them they can keep going with these policies.

 

[jaygreenb]

Yeah, I will be as well once I accumulate enough to do so comfortably.

If the US wants to keep having millionaires and billionaires leave them they can keep going with these policies.

Yeah, the writing is on the wall where they want to go with taxation and class warfare. I only see the divide getting worse, the middle class is getting gutted. On a positive not, there has also never been more opportunity for those paying attention.

 

[BackInTheGame78]

Yeah, the writing is on the wall where they want to go with taxation and class warfare. I only see the divide getting worse, the middle class is getting gutted. On a positive not, there has also never been more opportunity for those paying attention.

The middle class is getting crushed but there has never been a way for the middle class to move up in class so quickly in history.

 

[BackInTheGame78]

And just as I posted that last one...I come across this story... hahahahaha

A nurse made his entire day's wages trading crypto on his lunch break, so he quit his day job and now makes 7 figures

Since quitting, 31-year-old Josh Dorgan now spends more time with his newborn, Bloomberg Businessweek reported.

www.yahoo.com

 

[jaygreenb]

The middle class is getting crushed but there has never been a way for the middle class to move up in class so quickly in history.

Agree, never been easier. Have to decide which class you want to be in. Middle is decreasingly becoming an option.

 

[BackInTheGame78]

Leave it to the Asian Markets to tank BTC right as it was approaching an ATH, SMFH. What's new tho.

 

[BackInTheGame78]

BTC...welcome to a new ATH! Now everyone get ready, sit back and enjoy the ride!

 

[jaygreenb]

BTC...welcome to a new ATH! Now everyone get ready, sit back and enjoy the ride!

Time for price discovery, the final leg of these bull markets is when it goes most parabolic. For everyone who is new, make sure you have a plan for taking profits. It will feel the most euphoric when it is a good time to sell some off.

 

[BackInTheGame78]

Time for price discovery, the final leg of these bull markets is when it goes most parabolic. For everyone who is new, make sure you have a plan for taking profits. It will feel the most euphoric when it is a good time to sell some off.

@TechDev has pretty convincing posts comparing the last 2 runs and showing where to take profits...

According to him if it follows the previous 2 FIB patterns(it already did for the bottom), then the high will be in the 288K range...which is insane!!

 

[jaygreenb]

@TechDev has pretty convincing posts comparing the last 2 runs and showing where to take profits...

According to him if it follows the previous 2 FIB patterns(it already did for the bottom), then the high will be in the 288K range...which is insane!!

I follow him too. Yeah a couple different indicators and models are pointing to that range. The only thing that makes me have some hesitation is so many people are expecting that this time around and the market usually doesn't do what consensus is. Either way, expecting massive growth, anyone in right now is going to make incredible gains over the next few months. Just want to make sure you keep them! Max pain is watching all that money you made slip away, ask me how I know haha Good learning experience though

 

[Reyaj]

@TechDev has pretty convincing posts comparing the last 2 runs and showing where to take profits...

According to him if it follows the previous 2 FIB patterns(it already did for the bottom), then the high will be in the 288K range...which is insane!!

Wait when should we sell? I thought we should go long with this (no homo)

 

[jaygreenb]

Wait when should we sell? I thought we should go long with this (no homo)

Depends what you are in. Nothing wrong with just holding bitcoin and a few others but on a parabolic move up there is usually a large correction back to the trend line. Definitely sell any small caps or meme coins if they pump hard. Long term the good ones will trend up, just lots of ups and downs. Typically there is a 1 yr downtrend after a large bull market, look at 2018 and 2014. Personally not selling any bitcoin, all my alts except for some ETH is getting sold though. WIll buy some back