Are we excited yet?

Give people play money - they invest money - stock market bounds - inflation rises - people realise it costs more to buy stuff - their savings are worth less (if a stock rises 5% but inflation has risen 5% you have made nothing) - take money back out of stock market to pay for things

And all that pretend money has to be paid back so hello taxes

Too late for me to think too deeply on this, I'm sure there are videos on Youtube explaining how this is all gonna come back to smack people in their face - not only the US but Europe as well and many other countries.

Reminds me of the last crash and I was saying to people you know this is unsustainable (was looking at buying a house at the time but too many things seemed off for me) and everyone was saying its grand and the economy is flying whilst everyone was spending imaginary money on houses et al

I'm no expert but have a bad feeling and you can't buy yourself out of a crisis

I'm not putting my faith in **** DD from Reddit.

I have certainly read much of it, and the redditors I mentioned do make quite compelling cases for their viewpoints. That has played into a little confirmation bias on my part, certainly. But the terminal info and in particular the option chains reinforce that particular thesis in my mind.

Do I think it's going to super duper infinity pool squeeze? No. But, do I think that there are issues in how shorts are dealt with in the US market that are a systemic risk? Yes, and there is academic and industry support for that notion too. The ability to short a stock, then FTD and then hide that FTD by rolling it into a derivative trade is extremely dangerous.

Now where I think that plays into crypto is in the effort of traders and funds to seek appropriate hedges for their derivatives bet. The correlation of crypto surge and pullback since January in BTC, ETH and Doge is IMO at least enough to spark at least a notion in my mind that I'm better off in cash than crypto currently.

That's not advice I'm offering or expecting anyone to take. It's my position, based on my gut, my reading and some rudimentary fib level checks. In that regard, I think the recent run to 50k was a peak and a fall back down to the sub 30k range is possible. Again, that's not me trusting TA because I don't, but in that most human of foibles I've begun looking for patterns everywhere 😂

I left some money on the table in the move from crypto to cash, particularly in link and Ada which holding a couple of days longer would have seen me double my money 😤

But profit, is profit and we are in a volatile situation where that famous contrarian Micheal Burry is betting against the US and in particular the treasury.

Im happy enough with my choice to take a little time out from the crypto market and I'll likely exit GME before earnings and AMC in the next 2 trading weeks too.

Then I hope the opportunity comes to get back in to crypto at a point 20-25% above my last holdings (coinwise).

Not financial advice and if it was? I'd advise people not to listen to me anyway 😂 just where my own head is at, at this point in the cycle.

What exactly are you referring to here?

Checking the prices this evening...

Eth did a crazy jump around 5pm. A new ATH not far away

Well they say you always wish you bought more at the bottom and sold more at the top. Hodlings the only way.

Same, hoping for a nice December / January cash out and then rebuy in the bear. Up 50% anyway.

Hey folks,,where are ye buying coins since Binance withdrew Sepa payment. Switched back to my original Coinbase account but it's very limited. Cheers.

A 60-70% drop is ambitious, hasn't been that low in nearly a year. Barely spiked below 30k over the recent dip

I think El Salvador will adopt it, but like the guy in this video says, it might take a year

I don't think Bitcoin's future depends on how successful it is in El Salvador and I certainly don't agree that bitcoin is finished for good if it doesn't take off there immediately, of course it will be slow to start, it's a new technology.

On the point of El Salvador, their currency options are, a volatile Bitcoin that tends to go up in value and no one controls, or a less volatile USD which slowly devalues over time and is in the control of a different country. Giving countries an option is great for adoption.

Bitcoin uptake in developing countries will drive adoption long before western countries take it on. Lots of countries with double digit inflation, they need a new money system and Bitcoin provides that.

Time to start getting excited - looking like its gonna break 52k right after its broken 51k

I referenced the point I found interesting in that video. I don't believe El Salvador will make or break bitcoin, but I do think they will adopt it. Of course I could be wrong, but IIRC they are rolling out a program to help them adopt it easier and giving classes about understanding it and how it works. There will be many who will sell something on the equivalent of donedeal or something and might notice that they now have more cash, or a local business after a few sales will have what is perceived to be higher profits. Of course when it hits a wall they will notice the opposite, but by then the government are hoping that most will understand how it works and will have adopted it.