Are we excited yet?

Grumpypants

Money doesn't really flow out of bitcoin into Alts. What happens is the influx of money that thinks they missed the bitcoin boat look for the next bitcoin and flows into Alts pumping them. That's why there is usually a lag before Alt season starts. And that's anyone's guess what will take off. But the money made there should be moved into bitcoin and most of the Alts fade away to nothing.

Likely flow will be a top in the next two - three weeks. Then when the halving happens a nice big drop of almost 30%. A summer of growth and an Novemberish top again that likely will be it for another few years.

Once you hear the taxi driver talking about white papers on a new sure thing Alt sell up. 😁

Potatoeman

The ETF’s are tied to bitcoin, you might get an alt rally but trading the limited BTC for anything is very risky. You could also get people trying to front run the eth and Sol etf’s. You know retail are already here when the sh*t coins pump.

erlichbachman

Yea, theres some junk being bought out there, even LUNC is up, not really complaining though as I still hold some, I was down 75%, now only down 50%

erlichbachman

Bitcoin wicked at 69k, some amount of sell pressure there

BKtje

Up and down for Bitcoin but it seems to be slowly regaining after the sell pressure. Solana went up as well and seems to be sticking for the moment which is great news for me and people who hold Solana 😁

ETH also at the races.

Markus Antonius

https://www.boards.ie/discussion/comment/121853266#Comment_121853266

Fitting for crypto to have a lot of 69 action...

circadian

https://www.boards.ie/discussion/comment/121853003#Comment_121853003

Up 150% on Lunc, have loads staked so waiting to sell all my rewards in the first pump. Expecting to see it hit somewhere around half a penny, but I'll skim as it rises. Just need to figure out when to unstake as it takes 21 days.

deadduck

https://www.boards.ie/discussion/comment/121852122#Comment_121852122

this is the gist of it, and is how it's played out before, it's just traders working through the opportunities of profit as they see it;

of course the ETF's are a big factor this time, so it's hard to see as much money making it's way downstream as shown in this chart

but like GrumpyPants says, this'll be offset somewhat by new users coming in, seeing something like Cardano (hopefully 😉) at less than a dollar, and saying "wow, maybe it'll be 70k some day too". how much it'll be offset by, time will tell...

deadduck

also, some places are already saying we're in altcoin season! not saying I agree with this, but it's certainly helps explain why users like antimatterx are taking some profits now;

above from https://www.blockchaincenter.net/en/altcoin-season-index/

antimatterx

Coinbase fucked up and had BTC/EUR down 20%

mickdw

Jesus that's market manipulation

endainoz

Decent size correction today, was coming I suppose.

El festino

How soon do we wait before buying again. Asking for a friend :-p

antimatterx

https://www.boards.ie/discussion/comment/121854592#Comment_121854592

30K

erlichbachman

https://www.boards.ie/discussion/comment/121854615#Comment_121854615

youre having a laugh now

erlichbachman

https://www.boards.ie/discussion/comment/121853431#Comment_121853431

Yea, I just hit the unstake now, what makes you think it will rise? I only bought a good while back because back then the community seemed to become active and wanted to revive it, it’s one of my smaller gambles that I wrote off already, would be happy with just 50% down as I thought it was dead.

antimatterx

https://www.boards.ie/discussion/comment/121854661#Comment_121854661

I'm a realist. Will Crypto be higher in 12 months, almost absolutely. Will it be higher within 3 months or so, I think there's good chance we see a huge flush out.

erlichbachman

https://www.boards.ie/discussion/comment/121853377#Comment_121853377

Yea you could say we got screwed today, will probably take another couple of weeks before we have a shot at ath again.

Rte radio actually mentioned bitcoin earlier, that’s one of the things about ath, it reaches a lot of mainstream media, it’s like free advertisement.

erlichbachman

https://www.boards.ie/discussion/comment/121854703#Comment_121854703

Pullbacks are usually circa 30%, expecting greater than 50% seems a bit excessive

antimatterx

https://www.boards.ie/discussion/comment/121854738#Comment_121854738

I think it will be on the back of the US entering recession. Aggressive pullback, but short lived.

Markus Antonius

Still holding

circadian

https://www.boards.ie/discussion/comment/121854694#Comment_121854694

The rising tide theory. It's not a small community and with increasing volume results in increasing burns from Bianance, driving hype etc. There's also NFTs and a few other things on that chain so there's a certain level of utility, regardless of how useless. More than what a lot of other meme coins have. $0.01 would be about a 60BN market cap on a coin like that, I don't think that's too crazy in a bull market.

Like I said, I'll be skimming on the way up, I'll set targets to pull out when I feel it might be hitting a top. I'm sitting on about 75 million Lunc now after staking for ages. I've already sold off to cover my initial so I'm happy to ride the wave. It's not my only bag but as is typical with some of the alt coins there's potential for parabolic runs.

What I do find interesting is how it behaves, it pumped before BTC in December, doesn't pump when BTC does. It could easily just dump and crash but with Binance holding such a large bag I don't see it happening.

Timmaay

https://www.boards.ie/discussion/comment/121854661#Comment_121854661

Btc did hit 60 in may 2021, then back sub30 a month later before going onto its ATH of 64 end of the year.

erlichbachman

https://www.boards.ie/discussion/comment/121855185#Comment_121855185

The price is irrelevant to me for the moment as I won’t be selling, however, if BTC reaches 30k again this side of the cycle ill buy both you and merix a bitcoin each.

Norrie Rugger Head

Everything back to being uncertain and FetchAI goes to new ATH

Damn it for me not buying at 0.08 last year

erlichbachman

Wow, almost 68k this morning, hard to believe we could retest that 69k barrier again so quickly

Grumpypants

Yeah there is serious buy pressure to have us back up within a day.

erlichbachman

Yea, I think the fact that it did technically reach new ath, even though it was immediately rejected and nuked, can be used to communicate to those outside of crypto that Bitcoin reached a new ath which will bring more people in, so it wasn’t a complete failure. The most interesting part now is where it goes when 69k is breached, nobody seems to know where it will land, every time it broke ath before it did a multiple x, and multiple x on 69k would be pretty insane.

Timmaay

https://www.boards.ie/discussion/comment/121855457#Comment_121855457

https://fetch.ai/blog/fetch-ai-secures-advanced-gp-us-following-100-million-infrastructur-einvestment

This is the big news story they have been talking about last week or so, I'd say that drove it to the ATH of 2. I have a nice bag of fetch now but I'll be bluntly honest I only got involved with it back in 2019 when I decided to spend my 50e free crypto.com sign-up bonus on what coin was the cheapest and didn't sound like a pure shitcoin, which happened to be fetch at 4c, I bought more along the way, saw it hit 80 that cycle, then back to 1.4c, then 1.20, back to 6c, onto 2dollars now. In terms of the fetch project, the more I read of it the more I liked the whole area, who knows will AI actually make the same impact say the internet did across last 25yrs, but at the minute everybody thinks it will make a massive impact so thats good enough for me, will fetch actually make it big and be the next Amazon etc lol, Tim lets not be an idiot and pretend you actually know, the odds are totally stacked against it 2bh, but more importantly, how far will it run in the short term, and what major pullbacks will we see again (I cashed out another 5% just there now, rest of it is staking on Binance, locked away from me doing anything too stupid lol)

Timmaay

https://www.boards.ie/discussion/comment/121855211#Comment_121855211

Do we have to give a btc each if it doesn't drop to that lol?