Latest posts

Forum Statistics

Threads
25,873
Posts
508,233
Members
27,958
Latest Member
enrichettabetterman
What's New?

Cryptocurrencies

macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
bitcoin is down over 50% from its high, no biggie keep sipping on your coffee everything will work out just fine….

my post was to put the price of bitcoin out there for those people who don’t follow it regularly so they could see where it’s at. then I’ll keep posting more prices when it gets below 30k and then when it crashes to 10k.

all the smart money sold between 50k and 69K .
Again, I dont think you know crypto. The 'smart money' is still in it. The metrics are clear and easily traceable.


But again you like to pick out things like 'down 50% from all time high'. BUT you cant state that without the full context nor the cyclical history of this asset class.


So you are right. Below is a link showing this 'terrible' drop. Watch the 15sec clip and see if your point is as strong as you did initially.....


 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
Wow...everything continues to get wrecked! Looking at where the buy in opportunity is. Not really sure. 10 yr treasury is at 5 yr high. (an indicator of fear across ALL markets with people selling off to a 3% 10 year bond.

So this will be a great opportunity if you chose to take it. The key point is will this be the end of Crypto? I dont think so. We are just getting back to the 2022 low, so in some ways we are looking better than some stocks. Anyway I am still confident in crypto just like I would still buy stocks at some point despite the record drops.

I believe these are great opportunities rather than an indicator of death.

So IF the btc and crypto was crashing and everything else was great, I might feel other wise.

One thing I would say, it I would avoid alts at this point. BTC and ETH are the buys for me now.
 
Swiper

Swiper

VIP Member
Jan 8, 2011
1,377
1,265
3a650dd435e4dade29aa8669e3342ff2.jpg
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
Yea, this certainly is not fun time, but being in crypto long enough, this is pretty normal as well.

Similar events sep 19 and 2020 with a 55% crash. So give that history, I dont think you can call this a done deal. Can there still be more blood? Sure. But the end? I dont think so.

But here is a site that keeps track of the amount of times bitcoin has been declared dead. Its up to 477 times since 2012 and I am sure a few more will be added in next few weeks.



Here is our current position on a log scale of BTC since 2011. When in doubt, zoom out. I am not ready to sell. In fact I belive this is a great opportunity for anyone to get in with DCA.


ciAvqDk.png
 
tommyguns2

tommyguns2

Senior Moderators
Staff Member
Dec 25, 2010
5,649
3,692
Interesting article in Bloomberg today on crypto. In the old days, Bloomberg had good investment reporters. Today it's filled with a bunch of kids who don't know their ass from a hole in the ground. But, having said all that, I think this article is an interesting read that touches on my earlier point that crypto correlates to tech indices rather than to commodity hedges.

 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
Interesting article in Bloomberg today on crypto. In the old days, Bloomberg had good investment reporters. Today it's filled with a bunch of kids who don't know their ass from a hole in the ground. But, having said all that, I think this article is an interesting read that touches on my earlier point that crypto correlates to tech indices rather than to commodity hedges.

Yes. There is a ratio of the coupled effect which shows the correlation. The great news is that it continues to 'decouple' over time. It used to be a ratio where moves in the tech would get multiplied several times over. A lot of this is the speculative side, futures. This has been decreasing and becoming more stable.

Last I saw (before this recent dip) it continued to decouple further and I believe in the future that will continue.


It is really futures market and crazy leveraged trading offered on some platforms that encourage these amplified swings. But as crypto matures, and more corporate holdings come into play, the stability will likely increase. This is were GOOD regulation is not a bad thing.

Really hoping a spot ETF comes under approval. I see lots of opportunities though and we will see how it works out. STRONGLY considering another buy but I am have quite a bit at risk. Not sure what I want to do.
 
tommyguns2

tommyguns2

Senior Moderators
Staff Member
Dec 25, 2010
5,649
3,692
Hey Mac, I've got a family member that is really in on crypto, and is actually networked in on the exchange side of things, as well as holding the crypto as an investment. He said he sold a good bit at 52K, and has cash on the sidelines. He put in a little at 30.5K yesterday, but is holding his cash on the sidelines, as he thinks it could dip into the 20s. He bought a little yesterday because even with all his knowledge, he admits that there is a lot of herd psychology at play, and that is not always rational. (in fact, it's seldom rational, LOL)

He doesn't anticipate crypto making a significant positive run over the next 18 months, but for those who are the long-termers, he said don't bale.
 
captaincaveman

captaincaveman

TID Board Of Directors
Oct 17, 2010
1,254
410
Cash is the place NOT to be. I am trying to get out of anything related to currencies and in to things that are measured by weight. Many are learning a hard lesson of what "value" means. That being said, it is very hard to get out of dollars/currencies. That's why one day we will wake up and all of the currencies will be gone. Probably happen late on a Friday or early Saturday morning. LOL
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
So this is what I look at when it comes to crypto. The people talking about Ponzi scheme, etc. Well this is the OPPOSITE of a ponzi

Look at past 24 hours and this will tell you all you need to know. This is not how a Ponzi scheme behaves.....

ya8xav6.png
 
Swiper

Swiper

VIP Member
Jan 8, 2011
1,377
1,265
Over 40% of bitcoin holders are underwater.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,921
1,538
Over 40% of bitcoin holders are underwater.
And with the big picture of past crypto events in perspective, the above statement is a 'bad' thing why?.... (assuming you are posting it as an example of 'bad' news).


I think it shows a great opportunity as do others with BIG money invested. IF, there was a 2.1 billion outflux from top 100 wallets I might be a little nervous. As I posted above, the opposite is true. BIG money holders see this an an opportunity.
 
Swiper

Swiper

VIP Member
Jan 8, 2011
1,377
1,265
And with the big picture of past crypto events in perspective, the above statement is a 'bad' thing why?.... (assuming you are posting it as an example of 'bad' news).


I think it shows a great opportunity as do others with BIG money invested. IF, there was a 2.1 billion outflux from top 100 wallets I might be a little nervous. As I posted above, the opposite is true. BIG money holders see this an an opportunity.

We see Bitcoin through different lenses. you see everything as the cup being half full. I see it as the cup being half empty. I do think it’s bad news for the 40% of people that are underwater.
 
Who is viewing this thread?

There are currently 0 members watching this topic

Top