Are we excited yet?

Mucashinto · 23-05-2021 2:23pm

You seem to have a good grasp of the ETH price you like/don't like to see and what is/isnt overvalued and I just wonder why you never consider selling and rebuying to take advantage of it? I mean Vitalik sold right (in what looks like fairly a big way to me)? So while not getting involved in trading positions may seem like you're avoiding risk, you're not really I think? Whether it's opportunity or systemic etc. it's there regardless, you're just confident to zoom out to a longer timeframe and ignore?

HillCloudHop · 23-05-2021 2:38pm

I'm looking forward to this potential bear market. Great time to accumulate for the next couple of years.

seannash · 23-05-2021 2:39pm

Currently a big buy order on binance at 31500. Wonder will it disappear as it creeps closer. The risk taker in me is thinking its good for a wee bounce up, take some profit.

I probably wont though ðŸ€£

patnor1011 · 23-05-2021 2:47pm

I do not know but if you are tough and not panicking you can make money no matter what way it goes. I mean if you are in btc say that you bought too high you can watch market and sell it when it is on a way down to buy back lower. There is a risk you may get stuck so you can play it fast and take smaller gains but even though value of your investment is decreasing as price goes down you can increase your holding a little more so you will have more when price go back up.

sonandheir · 23-05-2021 2:48pm

HillCloudHop wrote: »

I'm looking forward to this potential bear market. Great time to accumulate for the next couple of years.

I only got into crypto last year after seeing what the central banks are doing. I'm hoping we're in a new bear market so I can accumulate over the next few years.
They money printers will have to continue now that they've been turned on. There is no way to turn them off. Possibly slowly wind down the printing, but at 25% new dollars last year the wind down will take a few years. And that's if we don't have some new crisis in the meantime.

grindle · 23-05-2021 3:13pm

Mucashinto wrote: »

why you never consider selling and rebuying to take advantage of it? I mean Vitalik sold right (in what looks like fairly a big way to me)?...you're just confident to zoom out to a longer timeframe and ignore?

I don't have Vitalik's bankroll, unfortunately. Rightly so, cos I've done sweet FA. No matter how stupidly high I think X price might be, if I sold then the price has to drop by more than 33% from that price for me to just to rebuy the same amount after CGT. Price could also have gone up and then crashed and set a new price floor above MySale minus 33%. Too much guessing.

I'd rather be patient than raise my blood pressure and wear my teeth down with anxiety thinking about these things, life can be uncertain enough without adding extra to it.

mcriot29 · 23-05-2021 3:18pm

How low do you think ETH Will get off we go into a beer market like 900

Donald Trump · 23-05-2021 3:22pm

mcriot29 wrote: »

How low do you think ETH Will get off we go into a beer market like 900

They are bringing in minimum pricing though. From Jan. 2022.

Depending on the units of alcohol

BrandonBay86 · 23-05-2021 3:23pm

Sh1tcoin season finally over it appears.

Mucashinto · 23-05-2021 3:28pm

seannash wrote: »

Currently a big buy order on binance at 31500. Wonder will it disappear as it creeps closer. The risk taker in me is thinking its good for a wee bounce up, take some profit.

I probably wont though ��

Yeah, you'd really expect solid support and bounce around 32k surely. Some straight line down so far though :eek:

sonandheir wrote: »

I only got into crypto last year after seeing what the central banks are doing. I'm hoping we're in a new bear market so I can accumulate over the next few years.
They money printers will have to continue now that they've been turned on. There is no way to turn them off. Possibly slowly wind down the printing, but at 25% new dollars last year the wind down will take a few years. And that's if we don't have some new crisis in the meantime.

This for me as well, those macro conditions haven't fundamentally changed imo. The idea that the fed or europeans can carefully turn off the tap...Maybe BTC doesn't end up hedging against it in the end but regardless, this is 20 (30? 40?) years of economic policies that lead us here imo. No way to unwind that without massive, massive damage imo.

grindle wrote: »

I don't have Vitalik's bankroll, unfortunately. Rightly so, cos I've done sweet FA. No matter how stupidly high I think X price might be, if I sold then the price has to drop by more than 33% from that price for me to just to rebuy the same amount after CGT. Price could also have gone up and then crashed and set a new price floor above MySale minus 33%. Too much guessing.

I'd rather be patient than raise my blood pressure and wear my teeth down with anxiety thinking about these things, life can be uncertain enough without adding extra to it.

Ah, fair play. Looking at BTC I'm thinking now if more people had that attitude the price wouldn't have such swings. Maybe Saylor has a big enough holding to give a solid floor and as long term holders accumulate more it will settle out. Anyway, long term the lines for eth/btc still go pretty much straight at a nice angle, the rest is just noise.

Shedite27 · 23-05-2021 3:41pm

What was the official high points? $65k or so for Bitcoin? so $32,500 is pretty 50% off the top.

Etherium high of about $4300 so $1900 is even less, about 55% off the top.

Polkadot spiked to $49 this week, so $16 is 68% off the top.

Bitcoin holding up slightly better than the others in %

LawBoy2018 · 23-05-2021 3:44pm

How low will BTC go? Is this the end of Alt season?

mcriot29 · 23-05-2021 3:51pm

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

BTC low will be around 25kus next week I feel

Richard Hillman · 23-05-2021 3:56pm

Governments will have to pay for Covid over the next couple of years. EU Governments especially are becoming larger and larger, veering into socialism. Government spending is not decreasing. The ERSI here have been calling for the Government to tax more. The ECB want people out spending and not saving or hoarding money.

For me, Crypto Currency is a method of storing money that Governments cannot touch. Stock markets may get a boom but dividends will be low and the dividends will be heavily taxed.

If the market bottoms out at the end of this year or into next year, it will align with the time when Governments will have to face the economic armageddon of Covid.

So what will wealthy people do with their money?

Invest in business during what will probably be am economic depression? That doesn't sound very promising.

Invest in stocks? Despite dividends being very limited and taxes high

Leave it in the bank to accumulate? Big Governments coming after that

Gold? Usually a safe bet. Although there may not be too much demand for gold and gold mining may have to stop to keep demand high.

Or.....

Remember that Bitcoin thing? Jesus it was worth 60k last year and now its worth 4 figures.......BOOM. Then when normal folk are suffering they see something like cryptocurrency booming. They want some of the action. People like to gamble more during economic down time. It will become more and more accessible too.

The good times are on the way. With a boom you cannot even imagine.

BrandonBay86 · 23-05-2021 3:56pm

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

Bitcoin dominance up 20% in the past 7 days so certainly a strong signal of alt season ending.

23-05-2021 4:02pm

Drumpot wrote: »

I am not a “crypto” person but I threw a few quid in to see how it plays out.

There is no intrinsic value to actual currency either.

I stopped there.

greenfield21 · 23-05-2021 4:02pm

We're back to January levels now, I can't see why these falls make such big news.

Unearthly · 23-05-2021 4:11pm

LawBoy2018 wrote: »

How low will BTC go? Is this the end of Alt season?

Yes btc bounced off a support line and is now gaining back dominance.

2 ways bitcoin can gain dominance is to go parabolic and liquidity from alts goes to bitcoin or bitcoin drops significantly and kills the alts with higher % drops. Unfortunately it picked the latter recently

LawBoy2018 · 23-05-2021 4:13pm

Unearthly wrote: »

Yes btc bounced off a support line and is now gaining back dominance.

2 ways bitcoin can gain dominance is to go parabolic and liquidity from alts goes to bitcoin or bitcoin drops significantly and kills the alts with higher % drops. Unfortunately it picked the latter recently

That sums it up nicely I think!

bfa1509 · 23-05-2021 4:19pm

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

LawBoy2018 · 23-05-2021 4:22pm

bfa1509 wrote: »

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

I think most people outside the crypto community already had things sussed to be fair.

mcriot29 · 23-05-2021 4:28pm

bfa1509 wrote: »

One year since I started investing, was up 300%, now tickling my BEP. Hat off to Musk, the governments, the banks and the media. They recognised the threat and they neutralised it in humiliating fashion.

I don't even care for the lost profits, it's the image and reputation that has taken the biggest hit really.

It’s done this before do you think it will ever go back up to prices we saw last week or do you expect it to stay around 20k long term and now no more bull runs

bfa1509 · 23-05-2021 4:34pm

LawBoy2018 wrote: »

I think most people outside the crypto community already had things sussed to be fair.

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

shtpEdthePlum · 23-05-2021 4:36pm

Wow across the board everything I have has dropped by half in the past week.

If I regarded it as real money I'd be crying.

mcriot29 · 23-05-2021 4:38pm

bfa1509 wrote: »

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

So you expect bitcoin to rise again
Some are saying it will go to 20k and stay there for months

greenfield21 · 23-05-2021 4:38pm

Is it time to sell everything and return back to fiat?

NomadicGray · 23-05-2021 4:38pm

greenfield21 wrote: »

We're back to January levels now, I can't see why these falls make such big news.

Were you part of an establishment that fears the potential shake up form cryptocurrency you'd be pushing the fud

LawBoy2018 · 23-05-2021 4:39pm

bfa1509 wrote: »

Had what sussed? This attack on crypto is a sure sign of how rigged the current financial system is.

Crypto will inevitably take over.

I was referring to your comments re crypto's image/reputation. Anyone shocked by the flash crash has a short memory.

How is the 'financial system' rigged? What even is the financial system? lol. The ECB?

What will crypto take over? Do you think it will replace the Euro?

NomadicGray · 23-05-2021 4:40pm

mcriot29 wrote: »

So you expect bitcoin to rise again
Some are saying it will go to 20k and stay there for months

I'd call that an accumulation phase

downcow · 23-05-2021 4:44pm

I went in a few years ago at the ATH and watched my money get so low that there was no point in taking it out. Thankfully here we are years later and it double in value.
This time I took a split second decision and took everything out about a week ago (once bitten, twice as shy).
I fully expect to put it back in in due course.

Are we excited yet?

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