Bitcoins - about to hit $5,000 per coin today!

[Thin Lizzy]

Microstrategy posted a 900M loss.

Saylor removed as CEO and now chairman of the board apparently to free him up to focus on Bitcoin acquisition.

Brutal short squeeze in Coinbase:

[Mayday]

I’m all in now 

[Thin Lizzy]

I’m all in now 

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

[Flexacon]

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

There was a lot leverage unwinding in that drop. Forced selling from lenders like Celsius and projects like luna as they crashed to zero.

But you might be right and lows get retested as September is nearly always a big red month for crypto (or maybe this now is the typical September drop everyone expects and it got front ran)

Don't think it really matters though. Buying crypto when btc is 20k or buying when it's 15k doesn't make much difference if you plan on holding until btc is 100k.

I got some Eth at sub 1k which helped me average down big time. Will buy more if it drops there again otherwise happy to sit in cash and use it to play some stocks once the bottom looks in.

[Mayday]

Good luck but I would have a pretty tight stop. The 50% pullback from the 30k to 20k drop was met with a wall of selling. Now, it looks like it might retest the prior low.

I don’t use stops or leverage. I’ll just hold if I get it wrong, it’s money I had from crypto I sold back in December 2021.

Cutting to the chase We also haven’t had a final leg down.

My own strategy says we may have 4 months of rallying on S&P with a potential for a YOLO ATH. This  falls inline with seasonality for crypto and also my belief the market gets rate cuts and QE wrong in Jan which is what will trigger the leg down.

2013 as a reference. With enough people flushed out it created a perfect storm for a YOLO event because sentiment was so heavily to the downside the rush in was biblical.

[Mayday]

ATH before year end.

 

[Theoak*]

I don’t use stops or leverage. I’ll just hold if I get it wrong, it’s money I had from crypto I sold back in December 2021.

Cutting to the chase We also haven’t had a final leg down.

My own strategy says we may have 4 months of rallying on S&P with a potential for a YOLO ATH. This  falls inline with seasonality for crypto and also my belief the market gets rate cuts and QE wrong in Jan which is what will trigger the leg down.

2013 as a reference. With enough people flushed out it created a perfect storm for a YOLO event because sentiment was so heavily to the downside the rush in was biblical.

Another leg down below this year's lows would entail another perfect storm I believe. Lending firms in chapter 11 going into liquidation, Mt Gox releasing 100k+ btc to creditors which could be sold on open market and also interest rates being bumped up.

Elections around November so if a low is going to be put in its between now and then.

[Mayday]

Another leg down below this year's lows would entail another perfect storm I believe. Lending firms in chapter 11 going into liquidation, Mt Gox releasing 100k+ btc to creditors which could be sold on open market and also interest rates being bumped up.

Elections around November so if a low is going to be put in its between now and then.

Absolutely…. But….

2023
2026
2032
2035

Funny 2032 is exactly 10yrs away….. maxis gunna get wrecked if crypto doesn’t recover for 10yrs…..

[Mayday]

Biden pauses student loan payment until January 2023.

Forgives 10k of student loans.

Biggest crypto degenerates getting primed. All that is needed is some stimmy now…….

I bought more yesterday.

[Theoak*]

Absolutely…. But….

2023
2026
2032
2035

Funny 2032 is exactly 10yrs away….. maxis gunna get wrecked if crypto doesn’t recover for 10yrs…..

Maxis is a term coined by Vitalik around 2015, any "Maxi" holding since  then is most certainly not rekt.

If BTC doesn't recover in 10years all the centralised shitcoins around it have no chance aswell. Likelihood of that  happening is very low. I guess that's why you went all in.

[Mayday]

Maxis is a term coined by Vitalik around 2015, any "Maxi" holding since  then is most certainly not rekt.

If BTC doesn't recover in 10years all the centralised shitcoins around it have no chance aswell. Likelihood of that  happening is very low. I guess that's why you went all in.

Alway early adopters did well and HoDLed always telling late adopters to work hard……

I’m in it for the short timeframe. Either glory or my wreckage awaits.

[OneMoreRep]

I'm holding onto about 10 cryptos that lend themselves well towards utility. There's just too much fluff out there with cute names that end up being worthless projects. This is one of the reasons I sold off all of my Cardano holdings a while back (really started to seem like a fluff project with an egotistical leader that's a fucking liar, who got caught). I also unloaded all of my Solana while it was still above $200 (had bought into it when it was around $14/SOL), which did bring me great profit, but a few friends put me on to the fact that it was a toy for venture capitalists to simply pump and dump the market with and that gave me the green light to jump off that ship.

I am starting to really entertain (invest into) $XRP. There's a lot of buzz surrounding its potential and it is incredibly well aligned with those that matter. Also, I sent some $XRP (about $250 worth) from one foreign exchange into a US-based exchanged and the entire process took less than 1 minute and only cost me a few pennies. That's impressive. As a tool for payment settlements, it's ridiculously impressive. I can see why central banks and local retail banks would love it as an option. Short of the hold up due to the SEC vs Ripple lawsuit (which I think is absolute bullshit) I think this project has a world of potential.

Are any of you HODL'ing $XRP? If so, what's your reason?

"1"

[robcguns]

I'm holding onto about 10 cryptos that lend themselves well towards utility. There's just too much fluff out there with cute names that end up being worthless projects. This is one of the reasons I sold off all of my Cardano holdings a while back (really started to seem like a fluff project with an egotistical leader that's a fucking liar, who got caught). I also unloaded all of my Solana while it was still above $200 (had bought into it when it was around $14/SOL), which did bring me great profit, but a few friends put me on to the fact that it was a toy for venture capitalists to simply pump and dump the market with and that gave me the green light to jump off that ship.

I am starting to really entertain (invest into) $XRP. There's a lot of buzz surrounding its potential and it is incredibly well aligned with those that matter. Also, I sent some $XRP (about $250 worth) from one foreign exchange into a US-based exchanged and the entire process took less than 1 minute and only cost me a few pennies. That's impressive. As a tool for payment settlements, it's ridiculously impressive. I can see why central banks and local retail banks would love it as an option. Short of the hold up due to the SEC vs Ripple lawsuit (which I think is absolute bullshit) I think this project has a world of potential.

Are any of you HODL'ing $XRP? If so, what's your reason?

"1"

I’ve been holding 50k Xrp for years now. For the reasons you mentioned. I’ve believed in it form the start and it has so much potential and connections.

[FitnessFrenzy]

BTC $20,200.92

[Thin Lizzy]

BTC $20,200.92

🥵

[Thin Lizzy]

😂

[OneMoreRep]

I’ve been holding 50k Xrp for years now. For the reasons you mentioned. I’ve believed in it form the start and it has so much potential and connections.

The way I see it, you're either going to walk away with not much money made OR you will walk away a millionaire from the amount of $XRP you hold.

There are rumors of it getting to $10, $30, $100, $589 and even > $1000 per $XRP. Market cap would argue against most of those higher numbers, but if it does in fact move the amount of volume between nations that people are speculating it might, then YOU WILL be very well off.

"1"

[robcguns]

The way I see it, you're either going to walk away with not much money made OR you will walk away a millionaire from the amount of $XRP you hold.

There are rumors of it getting to $10, $30, $100, $589 and even > $1000 per $XRP. Market cap would argue against most of those higher numbers, but if it does in fact move the amount of volume between nations that people are speculating it might, then YOU WILL be very well off.

"1"

That’s the dream. I’d be pretty happy at 10.00. I used to have a good amount more but dumped it. I will hold this for a longtime.

[Griffith]

I'm holding onto about 10 cryptos that lend themselves well towards utility. There's just too much fluff out there with cute names that end up being worthless projects. This is one of the reasons I sold off all of my Cardano holdings a while back (really started to seem like a fluff project with an egotistical leader that's a fucking liar, who got caught). I also unloaded all of my Solana while it was still above $200 (had bought into it when it was around $14/SOL), which did bring me great profit, but a few friends put me on to the fact that it was a toy for venture capitalists to simply pump and dump the market with and that gave me the green light to jump off that ship.

I am starting to really entertain (invest into) $XRP. There's a lot of buzz surrounding its potential and it is incredibly well aligned with those that matter. Also, I sent some $XRP (about $250 worth) from one foreign exchange into a US-based exchanged and the entire process took less than 1 minute and only cost me a few pennies. That's impressive. As a tool for payment settlements, it's ridiculously impressive. I can see why central banks and local retail banks would love it as an option. Short of the hold up due to the SEC vs Ripple lawsuit (which I think is absolute bullshit) I think this project has a world of potential.

Are any of you HODL'ing $XRP? If so, what's your reason?

"1"

Agreed.

I use it for transfers between foreign and local accounts and it costs a few cents, irrespective of the amount.

It is also extremely fast, almost instant.

[Theoak*]

Agreed.

I use it for transfers between foreign and local accounts and it costs a few cents, irrespective of the amount.

It is also extremely fast, almost instant.

Can do exactly the same thing on lightning network with btc without the centralisation attached.In general, I think btc and lightnjng can bring more financial access to unbanked people, can give people more access to hard money or censorship-resistant payments, etc.

Bigger it gets, the more it could be use as a global settlement network. Strike and Bottlepay are using it for that purpose.

Btc base layer can process about as many annual settlements as Fedwire, and can do so in a decentralized way that anyone can connect to rather than being a closed sysetm. I think that's a pretty big deal.

[Flexacon]

Gonna slowly unwind into cash as potential regulatory enforcements have me concerned. BTC and ETH look safe, but almost everything else could get nuked. BTC dominance could moon so still money potentially to be made.

I have access to free (stolen) electricity for 6 months and will be purchasing the discounted mining equipment on sale in the UK right now. It's prison or multi millionaire.

[Mayday]

Gonna slowly unwind into cash as potential regulatory enforcements have me concerned. BTC and ETH look safe, but almost everything else could get nuked. BTC dominance could moon so still money potentially to be made.

I have access to free (stolen) electricity for 6 months and will be purchasing the discounted mining equipment on sale in the UK right now. It's prison or multi millionaire.

CPI print on Monday and then rate meeting a week later.

This coming rate rise was never in the original sell off to the low set in June. It was not priced in. market tried to sell off again but couldn’t because everything is so one sided (ie short). Something is broken.

Things are so massively over tightened now and central banks looking to go further. A perfect Setup for the next inflationary wave to start in 2023 meanwhile everyone is calling for epic crashes just like back in 2020.

The biggest red herring is ‘the pivot’ for rate cuts.

[obsidian]

CPI print on Monday and then rate meeting a week later.

This coming rate rise was never in the original sell off to the low set in June. It was not priced in. market tried to sell off again but couldn’t because everything is so one sided (ie short). Something is broken.

Things are so massively over tightened now and central banks looking to go further. A perfect Setup for the next inflationary wave to start in 2023 meanwhile everyone is calling for epic crashes just like back in 2020.

The biggest red herring is ‘the pivot’ for rate cuts.

Nobody knows what the price will do. Seems to me the safest bet is to accumulate in a dollar cost average style and just forget about it for a long time. The guys that mined Bitcoin back in 2009 and just held eventually will get the last laugh.

What I don't like about trading is it is like gambling and creates tax preparation headaches. All these guys day trading crypto - are they doing that on KYC exchanges or not? It's not worth it to me to deal will all the tax BS that comes with that.

I think I prefer to just mine cryptos and accumulate in that way. Winter is perfect to mine in my region because the rigs heat the home. That way you are taking a gamble with the crypto you're mining but at least part of that gamble goes into increasing the temperature in your home.

[Irongrip400]

Any of y’all do the Paraiba Network or whatever it’s called?

[Flexacon]

CPI print on Monday and then rate meeting a week later.

This coming rate rise was never in the original sell off to the low set in June. It was not priced in. market tried to sell off again but couldn’t because everything is so one sided (ie short). Something is broken.

Things are so massively over tightened now and central banks looking to go further. A perfect Setup for the next inflationary wave to start in 2023 meanwhile everyone is calling for epic crashes just like back in 2020.

The biggest red herring is ‘the pivot’ for rate cuts.

I'm exiting positions because of potential regulations not market conditions.

The SEC has been vocal on supporting Bitcoin and Ethereum being regulated as commodities. Bullish for BTC and ETH but it doesn't look good for everything else.

No point taking the risk sitting in ALTS right now with this potential nuke. Actual nuke could be months or even years away, but with BTC dominance where it now ALTS don't look worth the risk.