Faceplanted
Well-Known Member
Another post that will age well. Pretty sure he’s still wayyyy up
Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
I don't know you'll have to ask him
Faceplanted
Well-Known Member
For some perspective, not even larping, I legitimately saw over a quarter mil whiped out from my portfolio in less than a week, I showed my wife this morning and she laughed at me for not buying Matic at 10c like she did. Matic is holding extremely strong and has been the strongest performing crypto for the past couple months even during this dump. If this stresses you out, maybe it’s not the game for you.
There are basically only 2 options from here
1. The bull is prematurely done, alt coins will dump another 70+%, btc ect will dump another 50%. You accumulate through this period and wait for the next cycle (I highly doubt this is the case)
2. It was in fact a manufactured cascading liquidation attempt, and we will be back on track to 100-300k btc within a very small time frame.
either way, selling now and cutting “losses” is absolutely retarded. One of the only thing that stupid boomer buffet said that I agree with
“time in the market is more important than timing the market”
Hanging on to an asset that you don't feel comfortable with is also not good.
China's cracking down on cryptocurrency and I'm sure that's going to damper it a little bit
Faceplanted
Well-Known Member
“China has been cracking down” for 5 years. It’s the same Fud that comes around in cycles.
crypto is literally the most valuable asset class known to man especially in this climate of hyper inflation that we are entering.
Faceplanted
Well-Known Member
rod
Retired 22 years
Don't be sorry. You just keep believing in your unicorn.
rod
Retired 22 years
Faceplanted
Well-Known Member
I’m up 10x over the past year in this unicorn even after today. I already took out my initial plus more.
>You are so angry that you have to watch this scam continuously go up year after year
>you get so happy that every time there is a hick-up or correction you have to come here and make a post
It’s gonna be ok fren. Throw away the anger and seethe and congratulate your brothers for taking risks and making money.
Why is the price of bitcoin and other cryptocurrencies falling?
Digital currencies have slumped after Chinese banking authorities moved to clamp down on their usage.
www.cbsnews.com
Faceplanted
Well-Known Member
Why is the price of bitcoin and other cryptocurrencies falling?
Digital currencies have slumped after Chinese banking authorities moved to clamp down on their usage.
China tightens cryptocurrency ban with new directive
Mainland access to foreign bitcoin exchanges online like Coinbase in the US would also be blocked
www.theverge.com
Article from 2017. The same bs orchestrated fud. It comes in cycles. Ask your self, how did somebody on 4chan call the dip exactly, and to the exact amount.
Attachments
I don't know but something is going onChina tightens cryptocurrency ban with new directive
Mainland access to foreign bitcoin exchanges online like Coinbase in the US would also be blocked
Article from 2017. The same bs orchestrated fud. It comes in cycles. Ask your self, how did somebody on 4chan call the dip exactly, and to the exact amount.
Do you think all the world powers are going to let some cryptocurrency take over their currency?
Faceplanted
Well-Known Member
The world powers are not the same. You have mining groups from all over the world. China, North Korea, South America, American solar farm/power companies. I personally know somebody with Venezuelan gov connections who orders miners to ship back and setup farms in Venezuela.
than you have OG whale groups who owns massive amounts of btc and work together at times and against eachother at other times.
this dump was 100% orchestrated. Basically every single leveraged long position was liquidated. Justin sun was on the brink of getting his massive long position liquidated. Goldman Sachs had a massive posistion liquidated.
people who took out loans on AAVE in exhange for collateral lost their positions.
its the wild Wild West. If bitcoin comes back from this and finishes the projections....who knows. This might be the end of the cycle. We might bear for 3-4 years.
the world 100% NEEDS blockchain to execute the 4th industrial revolution. This is the end goal. Total enslavement of citizens and as outlined in the fourth industrial revolution written by the WEF leader klaus schwab, blockchain and specifically smart contracts are how they plan to do this.
I have buy orders set for ETH and LINK as we speak. I’m also keeping an eye on GRT and HBAR
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johnnyunion
the grandpalooza of all you losers
When your cost basis is approximately 10 thousand dollars per bitcoin, there are no losses to consider.
You never go broke by taking the profit
johnnyunion
the grandpalooza of all you losers
and you never make money by playing it safe
In about two weeks, I will have owned bitcoin over a year and any I sell will only be subject to a long term capital gains tax of approximately 20 percent. If I sell now , its a short term capital gain in the high 30 percent range.
I know the price at which I will sell a good portion and it is below 100 k but more than the current price .
Well just think if you just sold it at 60,000 and bought it back again yesterday when it dipped close to 30 You could have almost doubled your holdings
johnnyunion
the grandpalooza of all you losers
True , I would have made money but not almost double . The simple reason is that once sold , approx 38 percent of the profit goes towards taxes , so when you buy back in you are not doubling your amount of bitcoin in this scenario but you are increasing your bitcoin stash, true.
Besides, your scenario implies you know the tops and the bottoms of a trading period. If you are capable of doing that on a consistent basis, then why don’t you set up a self directed (self managed) 401k( I know you like those) and swing trade your way to easy money ?
johnnyunion
the grandpalooza of all you losers
there are some who sold at 25k and are waiting for the dip back to 20 k.
They’re still waiting.
