OT- Bitcoin

[Sinomatic]

One note for folks hoping to ride the crypto wave in 2024 and not wanting to figure out how to invest.

Just invest in Coinbase.

It's perfectly correlated with the crypto market and it's going to have a really good 2024.

Fantastic buy opportunity at $139 right, a pullback from the last $187 top. Coinbase traded at $366 at the top of the last crypto cycle (Nov 2021). If I'm making an investment plan on Coinbase it would be to make a big buy right now, and then sell around a 4-5x December 2024. $550 - $600 would be a good exit target price.


For folks investing in crypto for first time, just remember - cash out around $125k BTC around Dec 2024. Roughly speaking. Don't round trip crypto and get rekted, because you will lose 70-80% and you will hate crypto.

If someone gets burned and hates crypto, or any other investment, they should go look in the mirror because they are at the helm. It's not the ventures' fault if they got out too early or too late.

If they doubled their money, selling is not a bad idea, regardless of date. Highly unlikely you don't double your money on crypto even if you just buy BTC or ETH right now.

NFA, but I'm targeting BTC at 85 to 90k. Then I'm gonna be like a fart in the wind.

 

[Huskers123456]

Has anyone ever once actually TALKED to a person at Vanguard? Because I have called them probably 20 times and never get to an actual person.

I have been trying to combine 3 different accounts into one and I guess no humans work there.

Talked to someone a few years ago when I rolled a mutual fund over to them. But really don't have a reason to. I used to talk to Ameritrade quite often and they were great.

 

[dsmalls3]

So you’re cashing out earlier than previously stated?

What did I previously state for my cashout date? Last two cycles crashed around the Dec/Jan timeframe, so it's going to be really hard not to cash out around that time, although this cycle can definitely run into Q1/Q2 2025.

The crashes happen quick. For my IRA I'll pry just sell everything around $115k BTC, maybe leave 10-15% in....I'm not as worried about timing to top, more worried about getting out with target profits.

For my SOL and Eth cash accounts I'll be taking profits all the way up. Trying to keep a 10-15% allocation of stablecoins at all times, and rotate into and out of dips and profits. At least that is the plan.

 

[dsmalls3]

If someone gets burned and hates crypto, or any other investment, they should go look in the mirror because they are at the helm. It's not the ventures' fault if they got out too early or too late.

If they doubled their money, selling is not a bad idea, regardless of date. Highly unlikely you don't double your money on crypto even if you just buy BTC or ETH right now.

NFA, but I'm targeting BTC at 85 to 90k. Then I'm gonna be like a fart in the wind.

Good conservative strategy. Good to have price targets. I'd give BTC at least $115k though.

 

[Huskers123456]

I talked to someone there back when I moved my Roth to them, but lately Vanguard's sterling reputation has been taking a hit. All of this automated crap is so frustrating for consumers to deal with. Try working with Amazon customer service sometime. Their "help" usually results in sending you the same long article to read over and over again.

Really? I love other Amazon's customer service. They always call immediately and take care of whatever I need. Kids order some $5 game I didn't approve? Amazon refunds me.

My only gripe is it's a little dicey on understanding them sometimes. But they are so damn nice I can tolerate it.

 

[Huskers123456]

I had a Vanguard 401K from the BNSF RR back in 2020. I seen Covid hit the news in December of 2019 and it spreading fast nation to nation.

I said to myself, yep, that's gonna affect the market when all these countries start shutting stuff down to attemp to control it. I was actually able to get someone on the phone and called and said I'd like to sell everything now, this was like Jan 2 or 3 2020. Dude was like, ARE YOU SURE!?!? I replied, yes I'm pretty darn sure.

I missed that 28k to 19k dow drop. What a knucklehead.

Then I called to buy back in at 20k I think it was and I couldn't get ANYONE on the phone. I sat for hours on hold.

Bastards....

Why wouldn't you use the website?

 

[Sinomatic]

Why wouldn't you use the website?

I only have 67 brian cells... haha

 

[huskerfan1414]

I had a Vanguard 401K from the BNSF RR back in 2020. I seen Covid hit the news in December of 2019 and it spreading fast nation to nation.

I said to myself, yep, that's gonna affect the market when all these countries start shutting stuff down to attemp to control it. I was actually able to get someone on the phone and called and said I'd like to sell everything now, this was like Jan 2 or 3 2020. Dude was like, ARE YOU SURE!?!? I replied, yes I'm pretty darn sure.

I missed that 28k to 19k dow drop. What a knucklehead.

Then I called to buy back in at 20k I think it was and I couldn't get ANYONE on the phone. I sat for hours on hold.

Bastards..…

Please tell me you found a way to buy back online.

I piled more money in and wish Id gone in to extreme debt to leverage more in.

 

[redli]

Wasn't someone on here advocating for COTI?

 

[Sinomatic]

Please tell me you found a way to buy back online.

I piled more money in and wish Id gone in to extreme debt to leverage more in.

No I didn't. It's was a situation where I can only hope that company gets a shaft comparable to the one I got, they have people out there that are from the era before PC's were normal. They need to pick up their phones. Or install a call back program, they are supposed to be a fiduciary, they need to act like it. By the time they answered the phones after weeks of trying, I got back in somewhere around where I got out. I didn't lose money was about all the reward I got for seeing it from 5000 miles off.

I should be more prepared to handle everything myself and probably demand that these bastards get paid less. Can't wait for AI to take over their jobs.

 

[Sinomatic]

Wasn't someone on here advocating for COTI?

@big red22 was talking about it.

After seeing his post about it I watched it drop a penny and put some money down just for fun week ago. If it tanks no biggie, if it gets to it's previous peak it's a 7x win for me.

 

[SomedayHusker]

Nice! What was your entry price for SOL? Another one I'd recommend (and you can buy on Coinbase I believe) is BONK. Set up to be the memecoin of Solana. If you look at what market caps DogeCoin and Shibu Ina hit last bull run, and then track them over where BONK is at MCAP wise now ($1 billion), it's possible to be a 25x from here. This is high risk though so maybe a 1-5% allocation.

Another one I like is WIF, but you can't buy that on Coinbase or other US exchanges. Have to buy via Phantom and use a DEX.

Also longing exclusively SOL is not for the faint of heart. One of my accounts went from $150k down to $105k within like 5 days when SOL bottomed at $85 or so.....that was pretty crazy lol. It's at about $125k now. If you don't like volatility stick with a higher allocation of BTC/ETH. You won't make as much money, but it's a lot less volatile.

I bought GSOL in my IRA @ $158. I think the chart looks decent, I may sell if it falls below the up trend line around the $130 area.

I am long /ES and /RTY futures from 9:54am central time today holding into the weekend in my swing trading account.

 

[TampaBaySkers]

BTC and SOL taking an absolute beating

 

[dsmalls3]

BTC and SOL taking an absolute beating

 

[BTF69]

Sold off all my coinbase stock today. I lucked out and made 20% off of it but that ****ing stock is gonna get back to like 40 dollars.

 

[TampaBaySkers]

View embedded media

BTC to drop back to 25k

 

[dsmalls3]

Sold off all my coinbase stock today. I lucked out and made 20% off of it but that ****ing stock is gonna get back to like 40 dollars.

No. You are selling the bottom of a retrace.

Going nowhere close to $40 in 2024. In fact you'd make a killing if you put on the COIN position through the rest of 2024.

EDIT: If your plan was to exit now, so you can enter lower later, then not a bad move.

 

[dsmalls3]

BTC to drop back to 25k

$34k - $38k will be about as bad as it gets. But then we shoot up.

 

[BTF69]

No. You are selling the bottom of a retrace.

Going nowhere close to $40 in 2024. In fact you'd make a killing if you put on the COIN position through the rest of 2024.

I might buy it back but it has gone from 190 to 130 in a few weeks. And, while I do think it will adjust a bit, I will wait because it will probably dip well under a 100 by the end of the month.

 

[dsmalls3]

I might buy it back but it has gone from 190 to 130 in a few weeks. And, while I do think it will adjust a bit, I will wait because it will probably dip well under a 100 by the end of the month.

Yeah see my edit above. I love that you took profit. Don't see your $40 COIN though.

BTC range was $34k - $38k at it's second to last high and consolidation zone, which was Oct 26 - Dec 1, $34k-$38k.


COIN ranged around $71 - $84 similar time frame. A buy back in this range would be a very strong move, but I'd set my profit expectations to pretty damn high from here. $400 - $600 price range.

Correlation between BTC and COIN is not exact, but it's pretty damn accurate. COIN holds a ton of crypto. It's similar to how folks bought Microstrategy to make a play on BTC, without being able to buy BTC.

Last time COIN was $40, BTC was $17,000 and at it's major low this cycle.

 

[BTF69]

Yeah see my edit above. I love that you took profit. Don't see your $40 COIN though.

BTC range was $34k - $38k at it's second to last high and consolidation zone, which was Oct 26 - Dec 1, $34k-$38k.


COIN ranged around $71 - $84 similar time frame. A buy back in this range would be a very strong move, but I'd set my profit expectations to pretty damn high from here. $400 - $600 price range.

See I keep thinking it will hit 400+ BUT with the new crypto ETFs that just got listed and are getting listed, I kind of want to see what happens in the next month.

I bought in just under 100 and sold around 130. It was as low as 40 this year, I missed out on buying at that time.

Won't shock my if it goes over 400 eventually.

NVDA is the other one that I have been in love with. It is almost getting to the point where it is too expensive for me to even buy anymore. But, that thing is going to end up over 1000 a share.

 

[Streamer15]

I bought in just under 100 and sold around 130.

I made my money by selling too soon. - Bernard Baruch

 

[dsmalls3]

See I keep thinking it will hit 400+ BUT with the new crypto ETFs that just got listed and are getting listed, I kind of want to see what happens in the next month.

I bought in just under 100 and sold around 130. It was as low as 40 this year, I missed out on buying at that time.

Won't shock my if it goes over 400 eventually.

NVDA is the other one that I have been in love with. It is almost getting to the point where it is too expensive for me to even buy anymore. But, that thing is going to end up over 1000 a share.

I'd recommend looking to understanding macroeconomics and secular and business cycles, and how they make equities and crypto look on a chart. How different assets are correlated and can help predicting the market.

For example, as per my edit above, the last time COIN was at around $40, BTC was at $17k, which was the bottom of this crypto cycle.

You are right NVIDIA is going to go bananas this decade. So is AMD, MSFT and a bunch of other AI driven tech stocks. There is going to be a correction coming up though, and timing the bottom can be the trade of the decade (besides timing the next crypto bottom or timing the last crypto bottom).

 

[BTF69]

I'd recommend looking to understanding macroeconomics and secular and business cycles, and how they make equities and crypto look on a chart. How different assets are correlated and can help predicting the market.

For example, as per my edit above, the last time COIN was at around $40, BTC was at $17k, which was the bottom of this crypto cycle.

You are right NVIDIA is going to go bananas this decade. So is AMD, MSFT and a bunch of other AI driven tech stocks. There is going to be a correction coming up though, and timing the bottom can be the trade of the decade (besides timing the next crypto bottom or timing the last crypto bottom).

When do you think/see COIN gets up to the 400+ mark?

 

[HuskerHusaria]

I'm gonna ride this one to the moon

 

[dsmalls3]

When do you think/see COIN gets up to the 400+ mark?

When BTC gets past the $100k mark. Last half of 2024. The two are highly correlated.

I/O Fund is buying here at $130 - $110.

 

[Sinomatic]

Bought 100 bucks of $BONK ....then laughed at myself.

 

[BTF69]

Bought 100 bucks of $BONK ....then laughed at myself.

I have like 20,000 Shibu coins! HAHA

 

[dsmalls3]

Bought 100 bucks of $BONK ....then laughed at myself.

That's a great buy. Just hold through the volatility, but BONK is positioned for some crazy gains this bull cycle.

One I like even more is dogwifhat (WIF). You won't be able to find on exchanges though, need a Web3 wallet.

 

[dsmalls3]

I have like 20,000 Shibu coins! HAHA

Rotate into BONK. Serious.

 

[TampaBaySkers]

Rotate into BONK. Serious.

Think if Bonk was just worth a dime. We’d all be multimillionaires 🤣🤣

 

[dsmalls3]

Think if Bonk was just worth a dime. We’d all be multimillionaires 🤣🤣

Meme culture is hilarious, but it is a thing now ha. Don’t fight it if it’s going to make you money.

Don’t focus on coin price. Look at Market Cap. Bonk is currently around $1 billion. Doge Coin hit $35 - $39 billion last bull cycle 2021 when Eth had its breakout moment. SOL is expected to have an ETH breakout moment this cycle.

That puts you at a 35-39x of your money today investing in BONK. They also actually have a legit team which is building stuff. They built a crypto trading bot which is pulling in like $35 million/month, for example. Every Solana phone came prebuilt with BONK tokens and led to quick sell off and run up of Solana phone. They will probably be building nice integrations into Solana DeFi protocols.

The other Solana meme coin I like is dogwifhat (WIF) which needs to be bought with DEX. Just ridiculous name lol. Market cap of $250 million. All the right people are pushing these two coins too.

Put $10k in one of these or both, don’t touch it until crypto bull market is feverous, and you are going to be sitting pretty happy.

 

[Sinomatic]

Think if Bonk was just worth a dime. We’d all be multimillionaires 🤣🤣

 

[Streamer15]

Meme culture is hilarious, but it is a thing now ha. Don’t fight it if it’s going to make you money.

Don’t focus on coin price. Look at Market Cap. Bonk is currently around $1 billion. Doge Coin hit $35 - $39 billion last bull cycle 2021 when Eth had its breakout moment. SOL is expected to have an ETH breakout moment this cycle.

That puts you at a 35-39x of your money today investing in BONK. They also actually have a legit team which is building stuff. They built a crypto trading bot which is pulling in like $35 million/month, for example. Every Solana phone came prebuilt with BONK tokens and led to quick sell off and run up of Solana phone. They will probably be building nice integrations into Solana DeFi protocols.

The other Solana meme coin I like is dogwifhat (WIF) which needs to be bought with DEX. Just ridiculous name lol. Market cap of $250 million. All the right people are pushing these two coins too.

Put $10k in one of these or both, don’t touch it until crypto bull market is feverous, and you are going to be sitting pretty happy.

What is the typical bid/ask spread on coins like this where the price is in the noise? I pulled quotes and didn't see it.

 

[TampaBaySkers]

PRQ up 80% today 😮

 

[dsmalls3]

What is the typical bid/ask spread on coins like this where the price is in the noise? I pulled quotes and didn't see it.

Honestly not sure what a bid/ask spread is?

Are you in a crypto exchange?

 

[Sinomatic]

100 bucks of BONK cost me like 7 bucks.

It costs more to buy than sell on Coinbase given my results so far.

 

[dsmalls3]

PRQ up 80% today 😮

Check out WIF…..going crazy. I rotated all of my BONK into WIF.

I’d recommend it, but you can’t find it on any US crypto exchanges. Could try a VPN.

 

[Streamer15]

Honestly not sure what a bid/ask spread is?

Are you in a crypto exchange?

It might not apply to crypto as I don't know how the market is made.

Bid–ask spread - Wikipedia

en.m.wikipedia.org

 

[big red22]

BTC to drop back to 25k

Nope I could see low 30's though