Bitcoin and other forms of digital currency

[bigboy61]

1 hour ago, tz6p06 said:

I bought some Bitcoin a while ago and when it hit its high I cashed out my initial investment.  Now I am playing with free money so it is more fun.  I still have a lot to learn about it, but now its fun learning.

Kudos to you! I still think we have some juice left for a big rally this year, so I haven't sold yet. I don't plan on selling all of them either. There's one (and another that I'm going to buy when it launches) that I really believe in so I'll hold onto them. 

[scurt1s]

I think with interest rates going up other things that are less volatile will get some time in the sun. Hell even govt. I bonds are 7.12%/yr right now.

Bitcoin has never been in a raising rates environment so its' tough to know how it'll respond. This next year or so will show its true worth. 

[cladner]

most crypto are at or below their 200 day moving average.  while its always tough to call a bottom, from a technical perspective, odds for a significant bounce greatly outweigh the odds for further downside but everyone has to have their own risk tolerance.   its always tough to buy when its down and going down or flat,  but at least from chart interpretation/hallucination most of the rout should be over.

solana bounced off the 200 day to the penny this morning at $133.  

eth is way oversold and should snap back to $3500 (just below the 200day) in the next day or two imo.

for this next wind up i have added to eth solana and mana holdings. 

with the fed getting tougher and the threat of rising interest rates, the heat of inflation may cool somewhat in the near term which would take some of the wind out of the crypto wing.

however, medium to long term the fed cannot allow interest rates to go insane because of the massive federal debt -  interest payments would rapidly consume the federal budget. 

there are only 3 ways to get out of the massive federal debt which is the elephant in the room that will dictate fiscal policy for the coming decades.

1.  keep interest rates low forever to pay it down slowly. 

2.  excess inflation so that we can pay it off with funny money printed by the printing presses. 

3.  the magic debt fairy erases it.   

crypto goes higher in scenarios #1 and #2.

 

 

[bigboy61]

Well, thr last 24 hours have been... interesting....

 

I bought a bunch of a coin yesterday and proceeded to lose over a $1 off ofthe value per coin (it's in the single digits so $1 is a lot when its under $10). Would not recommend diving in unless your planning on holding long term. Easy to get rekt.

[$20 on joe vs dan]

2 hours ago, bigboy61 said:

Well, thr last 24 hours have been... interesting....

 

I bought a bunch of a coin yesterday and proceeded to lose over a $1 off ofthe value per coin (it's in the single digits so $1 is a lot when its under $10). Would not recommend diving in unless your planning on holding long term. Easy to get rekt.

thanks for sharing...seems like most folks only share the good news

[raindog]

10 hours ago, bigboy61 said:

Well, thr last 24 hours have been... interesting....

My portfolio over the last 7 days.  It hurts!

[Brystheguy]

2 hours ago, raindog said:

My portfolio over the last 7 days.  It hurts!

So, it looks like it’s time to buy then!

 

[KShine]

No need to worry about crypto - If nothing else, you can feel assured that it will hold its book value.

[raindog]

18 minutes ago, Brystheguy said:

So, it looks like it’s time to buy then!

 

I actually just bought $50 worth of SAND.  I use DCA (dollar cost averaging) and buy $50 worth of crypto every weekend, whether the market is up or down.  Still, it hurts right now.

[bigboy61]

11 hours ago, $20 on joe vs dan said:

thanks for sharing...seems like most folks only share the good news

Sure thing. There are positives and negatives to it for sure. Huge swings like this is part of what makes crypto...crypto though. 

1 hour ago, Brystheguy said:

So, it looks like it’s time to buy then!

 

If you are holding long term (e.g. years, yes). If only holding for a month or two, it's dicey.

[Setheronie]

It's a fire sale lol. Time to buy is now. If you're selling now you're selling to the smart money. This is when everyone should be talking about buying, not when it's the hype train.

[Brystheguy]

1 hour ago, bigboy61 said:

 

If you are holding long term (e.g. years, yes). If only holding for a month or two, it's dicey.

Why? Do you see it falling further? 
 

[marcandre]

Too soon to buy. 

[Mark Twain]

Why? Do you see it falling further? 
 

Yes.




Sent from my iPhone using Tapatalk

[raindog]

20 minutes ago, Brystheguy said:

Why? Do you see it falling further? 

 

[Brystheguy]

28 minutes ago, marcandre said:

Too soon to buy. 

But guys, Matt Damon said the future favors the bold…

 

[bigboy61]

1 hour ago, Brystheguy said:

Why? Do you see it falling further? 
 

Yes. I think we'll test 30k. 

[bigboy61]

Here's a chart that is used to identify dip opportunities during a bull run. It's been green for a while (signaling a potential buying opportunity). However, this is only good in bull markets. So the question is whether we are still in one or not  . You'll also see a similar event  about midway through 2021 as well that looks similar (except it went down more).

Edited January 22, 2022 by bigboy61

[lodibricks]

This is how I roll.
Red line = where I buy, thinking "the dip" is about to turn around. 😛

[raindog]

50 minutes ago, lodibricks said:

This is how I roll.
Red line = where I buy, thinking "the dip" is about to turn around. 😛

Me and you both, brother, me and you both.

 

[oneknightr]

9 hours ago, lodibricks said:

This is how I roll.
Red line = where I buy, thinking "the dip" is about to turn around. 😛

That was me when we bought our first house in 2006. Oof!

[lodibricks]

1 hour ago, oneknightr said:

That was me when we bought our first house in 2006. Oof!

I didn't even want to go there.   Buy high, sell low, right? ha

[bigboy61]

3 hours ago, lodibricks said:

I didn't even want to go there.   Buy high, sell low, right? ha

Hahaha! I too got rekt with this last dive. I bought it thinking it was going back up and then it crashed again. "lost" a lot of $$$, but it's only on paper. 

[cmartin33]

10 hours ago, bigboy61 said:

Hahaha! I too got rekt with this last dive. I bought it thinking it was going back up and then it crashed again. "lost" a lot of $$$, but it's only on paper. 

Yeah the only on paper thing is key.......if you don't sell you, you don't lose any money. I found myself counting my unsold gains as $$$$ back when the market was way up, but since I never sold, I didn't make them. So, now that the markets down, I have to view my unsold losses as only paper losses, since they are unrealized and never will be realized any time soon.

[bigboy61]

2 hours ago, cmartin33 said:

Yeah the only on paper thing is key.......if you don't sell you, you don't lose any money. I found myself counting my unsold gains as $$$$ back when the market was way up, but since I never sold, I didn't make them. So, now that the markets down, I have to view my unsold losses as only paper losses, since they are unrealized and never will be realized any time soon.

Yep! Same here! You don't lose money until you sell! This kind of thing happens multiple times every year. Everytime all the skeptics come out of the woodwork and start claiming the sky is falling again. Happens every time. Best thing to know is to tune those folks out and just ride it out like always!