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Same formula every time. Something causes a dip initially, some sort of US investigation and/or restrictions allegedly planned, and then China supposedly bans crypto, or so we're told by major news outlets. Shake out paper hand holders, buy billions at a discount, rinse, repeat. Like the 5th time this has followed the same exact scenario.
Druff continues to bat .000 on Bitcoin predictions - he said in the last podcast it’ll go down ‘a little’ then go back up
Was a good run. RIP
Been watching BTC today, I saw it get to around 37k, but it just recovered to 38700.
So maybe on the way back up, or might be a dead cat bounce.
Some have wanted to buy into crypto at this point, but I advised staying away. Yes, it's a possible "low entry point" opportunity, but it could also be a "catching a falling knife" moment. Remidns me of some people who thought they were smart buying into the 2008 housing market when it was crashing hard, beliving the crashing was finished. Nope. Kept crashing, and many went broke doing this. (Of course, those who held on ended up recovering anyway, but it took many years in some markets.)
The problem here is that Elon giveth and Elon taketh away. The same guy who caused a lot of the recent crypto exuberance has caused the recent crash. It's very hard to predict where it goes from here. Until I see signs that it's stabilizing, I wouldn't advice people to get in or buy more.
Could someone hold me?
Thanks.
Quick reminder to put things in a little perspective
At this time last year, BTC was trading at less than $10k
In October 2020 (Not more than 7 months ago) it was trading around the 12k range.
How much more of a ROI was everyone really expecting in that amount of time without some type of a correction?
We've literally had the same repetitive FOMO & FUD arguments with every correction countless times since this thread started in 2013 and the price was around $100 a coin.
Dead cat bounce indeed. This is exactly why I told people to stay away.
In case you're wondering, I had about 40-45k in crypto before this latest crash. So while this is somewhat painful, it's not devastating in any way. For some in poker, who attached a large amount of their net worth to crypto, this is a big problem.
Of course, as Gordman pointed out, some of them didn't have such riches just 8 months ago, so you can't feel too bad for them. I do feel bad for the people who just bought in semi recently.
What you’re omitting is the leverage issue. Some people are simply dead now.Quote:
Originally Posted by Dan Druff
I have lost $700 today and have enjoyed every minute of it. I'm also ready to put $$$ into holochain (something I just spent 30 seconds learning about).
This shit is fun when youre donking around with silly money. Feel bad for the nurse I met who planned to cash out her 401k to buy bitcoin. Told her not to but she was seeing green.
Obviously not selling if Druff is saying it's a dead cat bounce.
Ya no offense to Druff but he should self ban himself from trying to guess where crypto is going.Quote:
Originally Posted by rum dick
I think we will see 25k in the coming days. The question is will it find support at 25k. Unreal almost cut in half in a matter of days
How much more Bitcoin will he buy at $25K?
Just bought a bunch of hbar and telos whatever the fuck those are.
No time to sell now.... if you did not sell at 50-64k...
You do not sell now, You Buy..
You Gamble.
Win or Lose
Die well
Dont be a Mouse when all are fleeing.
Stand by yr convictions... If you did not sell at 45k.....and now you want to at 38k
you really need to cash out and stick with Microsoft Apple Google etc.... ty....IMO....
I do hope I am correct.
I believe that MUSK and any wealthy brainiac BOUGHT BOUGHT & Bought more while the scared ppl SOLD>....
I will BOLDLY Say BTC will Not hit 0.00. I Cannot Lose "it all"
No one shd be as fully vested as I am..... I shall either reap great rewards..or Pass on a pauper.....
No In between
P.s
Idk why Garrett gets so much grief, He is IMO one of the few here that grasps the Pscyh-ops of Crypto/1 World think tank/split the world into Crypto ppl/and Poverty,cash week to week ppl...
Crypto communities VS Non....
Do not IMO be caught Holding 0.0 Crypto..>
What LOWER entry point can you guys pray for than the 30-38k? FREE?
Live Good, Die well....... any shmuck can Die.
The next few Months shall reveal all......I predict August.,Sept, BTC back at 50k. by Dec 75k.
Maybe I am wrong and this week snake/lizard MUSK bought 0 BTC....then I am a fool...
"Time shall tell" Clifford Odets ?the country girl? fried long ago.
Quote:
Originally Posted by shoeshine box
you know you dont need to overthink this so much, yeah?
just bet the momentum, set stop losses and take-profits and read a book.
Well no offense to anyone on the forum who may be in that situation, I am not going to laugh at their misfortune, but to borrow money you can't afford to pay back and putting it into an extremely speculative asset is just fucking stupid beyond stupid.Quote:
Originally Posted by SanlmarWhat you’re omitting is the leverage issue. Some people are simply dead now.Quote:
Originally Posted by Dan Druff
Different take on crypto currencies that should embolden some. Some/many of us use theses currencies to avoid the trails of traditional currencies. I’m not worried about ev at all. Simply a tool to avoid detection. How strong that’s is a big factor in a currencies appeal. Safety/profit is the game. It should depend on what you can afford to lose
I'll be honest here and talk some real, actual general Economics now hope you dont mind (Some will inevitably)
The Problem currently in this new and unfolding Crypto Market is NO Diversification and balance yet. New yes, predictable no, unregulated yes, so you have an actually incomplete totally Irrational Erratic new Market unfolding here now. In front of you're very eyes too, Don't Blink. If you do you may miss it. Some of it has already happened, like Blockchain Technology now and permanently being a part of our Life's now. The problem currently in this new Crypto Market unfolding is that, it Has no Diversification right now. Real Diversification not SHITcoins, Ethereum does add balance to this Market, which it now desperately needs. And I htink over time Bitcoin Cash grows too, and so there will be some balance over time. But right now, as is, the whole Market rises and Falls completely based off of Bitcoin Price. That can't stay way, it wont stay this way or else some heavy handed Regulation may be coming.
The new unfolding Crypto Market needs real balance and Diversification now