Whoa... can't believe it hit upper 20s. Looks like a blowoff top.
Crypto-trading thread
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Last: 2 hrs ago by LMCane
Looks like the Otherside mint was a complete disaster.Stan Crowch said:
Will be interesting to see what happens with $APE after the Otherside launch on Saturday. Going to be fireworks one way or the other.
You mean upper 30s?TxAG#2011 said:
Whoa... can't believe it hit upper 20s. Looks like a blowoff top.
What would happen if LEDGER were to go bankruptcy or be hacked or just disappeared? Would you be able to take your hard wallet elsewhere to access your **** ? I was wondering because that would suck
I have no idea who manufactured the physical wallet I carry daily or if they are still in business. In the same manner, it largely would not matter if Ledger ceased to exist. Ledger isn't an exchange, and it really isn't a wallet either. It is a company that makes wallets. As long as you have the keys you have coins.CM Trump Voter said:
What would happen if LEDGER were to go bankruptcy or be hacked or just disappeared? Would you be able to take your hard wallet elsewhere to access your **** ? I was wondering because that would suck
Right on, but I use the ledger app to transfer coins...what if the was no app?
You don't have to use ledger live. There are ways to process transactions and generate receiving addresses with other wallet software and you can route transactions through your own node if you run one.
BTC Tanking unexpectedly
Seems fairly correlated to the market these days, and the market is tanking.
I'm ready to call BTC a highly correlated POS at this point.
was an interesting test case.
was an interesting test case.
Diggity said:
I'm ready to call BTC a highly correlated POS at this point.
was an interesting test case.
What makes you think that? Seems like an odd take.
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
do you feel like it has been a good inflation hedge?
Fair.
But because it has not been a good hedge against inflation in the short term does not mean it has failed. I thought that was what you were implying
But because it has not been a good hedge against inflation in the short term does not mean it has failed. I thought that was what you were implying
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
didn't mean to imply that it has failed....just been disappointed about how highly correlated with the S&P it has become.
"Experts" are blaming that on the rising levels of institutional money, but I thought that was always the goal/expectation.
"Experts" are blaming that on the rising levels of institutional money, but I thought that was always the goal/expectation.
That I agree with. That part has been disappointing
Fortunately real estate has been smoking.
Fortunately real estate has been smoking.
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
In times of fear, everything becomes correlated and cash becomes king. This just shows that cash, government backed currency, is still king, and Bitcoin is seen as a speculative asset. Market behavior shows people would still much rather have USD than Bitcoin because Bitcoin keeps cratering with every big drop in stocks.
I try to think of BTC price/supply in a few segments:
1) Long term HODLers. About 65% of BTC supply has been held over 1 year and 80% has been held over 6 months. These are the highly convicted types whose BTC has been extracted from daily price movement. Price volatility and fluctuation are driven by...
2) Macro investors who see BTC as extension of Tech/NASDAQ. These investors are generally "risk off" right now and are doing more selling than buying of BTC.
3) Quant/chart traders who capitalize on shorter term trends. Most of these trends are bearish rn.
BTC liquid supply (which sets the price) is dominated by 2 and 3 above. Given short/medium term market conditions, I don't anticipate them moving BTC in a positive direction anytime soon, but that's ok. They're going to ebb and flow over the long term.
Unfortunately that means BTC price probably won't be negatively correlated with inflation or broader market indexes anytime soon. Not through a short term lens anyway. But regardless of this choppiness/bearishness, you're still much better off owning BTC long term than almost any other asset. Stick to a 10 year investment horizon and sleep comfortably.
It's worth remembering that the BTC market currently has to absorb 900 newly mined BTC per day. That's about $34mm per day of value (or $238mm per week). It's alot to ask of the LT HODLers/whales/miners to absorb, so it ends up as exchange supply. In 2024, that gets cut in half.
1) Long term HODLers. About 65% of BTC supply has been held over 1 year and 80% has been held over 6 months. These are the highly convicted types whose BTC has been extracted from daily price movement. Price volatility and fluctuation are driven by...
2) Macro investors who see BTC as extension of Tech/NASDAQ. These investors are generally "risk off" right now and are doing more selling than buying of BTC.
3) Quant/chart traders who capitalize on shorter term trends. Most of these trends are bearish rn.
BTC liquid supply (which sets the price) is dominated by 2 and 3 above. Given short/medium term market conditions, I don't anticipate them moving BTC in a positive direction anytime soon, but that's ok. They're going to ebb and flow over the long term.
Unfortunately that means BTC price probably won't be negatively correlated with inflation or broader market indexes anytime soon. Not through a short term lens anyway. But regardless of this choppiness/bearishness, you're still much better off owning BTC long term than almost any other asset. Stick to a 10 year investment horizon and sleep comfortably.
It's worth remembering that the BTC market currently has to absorb 900 newly mined BTC per day. That's about $34mm per day of value (or $238mm per week). It's alot to ask of the LT HODLers/whales/miners to absorb, so it ends up as exchange supply. In 2024, that gets cut in half.
Terrible morning!!!
agsalaska said:TxAG#2011 said:
I bailed on Ape too soon. Oh well hope peeps made some cheddar on that one
I'm thinking about cashing out and using it to buy a Winchester tomorrow.
At first I thought it was a new crypto & looked for the price!
just bought another $500 Bitcoin at $35,780
BTC down nearly 9% in the last 24 hours good time to buy.
BTC down nearly 9% in the last 24 hours good time to buy.
good post 100% agreeDeluxe said:
I try to think of BTC price/supply in a few segments:
1) Long term HODLers. About 65% of BTC supply has been held over 1 year and 80% has been held over 6 months. These are the highly convicted types whose BTC has been extracted from daily price movement. Price volatility and fluctuation are driven by...
2) Macro investors who see BTC as extension of Tech/NASDAQ. These investors are generally "risk off" right now and are doing more selling than buying of BTC.
3) Quant/chart traders who capitalize on shorter term trends. Most of these trends are bearish rn.
BTC liquid supply (which sets the price) is dominated by 2 and 3 above. Given short/medium term market conditions, I don't anticipate them moving BTC in a positive direction anytime soon, but that's ok. They're going to ebb and flow over the long term.
Unfortunately that means BTC price probably won't be negatively correlated with inflation or broader market indexes anytime soon. Not through a short term lens anyway. But regardless of this choppiness/bearishness, you're still much better off owning BTC long term than almost any other asset. Stick to a 10 year investment horizon and sleep comfortably.
It's worth remembering that the BTC market currently has to absorb 900 newly mined BTC per day. That's about $34mm per day of value (or $238mm per week). It's alot to ask of the LT HODLers/whales/miners to absorb, so it ends up as exchange supply. In 2024, that gets cut in half.
I am a HODLER
up to nearly .33 of a BTC and 4 ETH
You could increase that .33 BTC pretty handily today.
When bottom
FancyKetchup14 said:
When bottom
Not for a while, the entire economy is crashing and cryptos are going right with it. This is a bloodbath and there isn't much of a light at the end of the tunnel.
We're getting closer to a 1929 scenario in all sectors except energy.
Stablecoin time bros. Maybe scale back in if you see levels you like... but scale. Don't assume we hit bottoms.
Decay said:
Stablecoin time bros. Maybe scale back in if you see levels you like... but scale. Don't assume we hit bottoms.
We're in falling knife territory now. Maintain iron hands.
Bloodbath is a good word. I created an indicator that I still have not put my full faith in, but should have. I converted about 30% of my assets to stable coin when the indicator said sale. Should have converted all of it! I would have do much cash to buy up more BTC and eth right now!!! Arg!!!!!!
I prefer to look at as buy time….
Kidding. Kind of.
Kidding. Kind of.
Better than 0%.jeremy said:
Bloodbath is a good word. I created an indicator that I still have not put my full faith in, but should have. I converted about 30% of my assets to stable coin when the indicator said sale. Should have converted all of it! I would have do much cash to buy up more BTC and eth right now!!! Arg!!!!!!
Besides you don't really ever want to go 100% in one way or the other, always give more room. I'd have been happy taking 30% from a few weeks ago.
Grief folks...BTFD!
A great time for hodlers to increase their bags.
Yeah, the market plummeted but so what, take advantage or ride it out.
I am marginally up still but even when it drops further I won't panic because my tokens are for 2024 and beyond.
Edited to add - not selling a single token, not flipping, and not flipping out.
A great time for hodlers to increase their bags.
Yeah, the market plummeted but so what, take advantage or ride it out.
I am marginally up still but even when it drops further I won't panic because my tokens are for 2024 and beyond.
Edited to add - not selling a single token, not flipping, and not flipping out.
LatinAggie1997 said:
Grief folks...BTFD!
A great time for hodlers to increase their bags.
Yeah, the market plummeted but so what, take advantage or ride it out.
I am marginally up still but even when it drops further I won't panic because my tokens are for 2024 and beyond.
Edited to add - not selling a single token, not flipping, and not flipping out.
I don't think some of you realize how bad this is going to get, crypto is in the bottom of the above chart.
Every sector of the economy is crashing while commodities and real estate are blasting up.
Despite the bloodbath in overall equities, energy stocks continue to move higher.
— Otavio (Tavi) Costa (@TaviCosta) May 8, 2022
The disconnect from other sectors has never been more pronounced.
“The Great Rotation” is now in progress. pic.twitter.com/MR62h4shNo
Most people are going to get wiped out, myself included. Thankfully I can afford to lose all crypto investments and I'll be fine but it will still suck royally.
How is it different than any other bear cycle?
It isn't.
Iof course your portfolio will hav dropped 80-90% but it has happened multiple times.
If you chose wisely then you your portfolio will withstand the storm and bounce back.
I have zero worries about my holdings fading to zero and disappearing permanently.
It isn't.
Iof course your portfolio will hav dropped 80-90% but it has happened multiple times.
If you chose wisely then you your portfolio will withstand the storm and bounce back.
I have zero worries about my holdings fading to zero and disappearing permanently.
Personally, I fear real estate will bust soon...ugly.
LatinAggie1997 said:
How is it different than any other bear cycle?
It isn't.
Iof course your portfolio will hav dropped 80-90% but it has happened multiple times.
If you chose wisely then you your portfolio will withstand the storm and bounce back.
I have zero worries about my holdings fading to zero and disappearing permanently.
Bear cycle? You think this is a bear cycle? We are in uncharted waters right now with the supply chain issues, inflation issues, and more. No one alive has seen what is happening right now.
We're in the midst a global economic collapse. I'm not sure people really get it yet.
LatinAggie1997 said:
Personally, I fear real estate will bust soon...ugly.
Why?
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
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