I guess Jim Cramer is now bullish on BTC. God help us all.
OT- Bitcoin
- Thread starter redwine65
- Start date
Forgive me if I have missed this... Does anyone have guidance on picking a short term (this year) exit from BTC/IBIT? I am looking at this as a momentum play for now.
Hold until the top then sell.
Right now? Just throw a dart and whatever coin it hits, buy that.
This bull rally should continue for at least the rest of this year. Start planing an exit in Dec if you subscribe to dsmalls outlook
My guidance is to sell the Jim Cramer top
He was an AI Bot sent by "Big Crypto" to drive engagement.
I think his last post said he was mostly in USDC so he may of sat out this bull run?
Wait...im now in BTC and the head crypto bro is in cash??? Jfc that's awesome.
When dsmalls called me a broke b!tch.. I think around 78-80
Hell yeah brother. Love to see other Huskers winning. You should be coming up close to a 3x at this point.
I can tell you this: Ethereum is in the shitter from a UE perspective and will draw zero new users this cycle. Solana will continue to outpace Eth in every way. The gas fees on Eth are averaging $75-$100/transaction, and the layer 2s are not picking up any traction and are all competing with one another. I think Coinbase will eventually release a Base token on their L2, and this could do extremely well. But won’t drop until later 2024.
I’d sit right and expect another 3-5x from here but with a lot of turbulence. Only possible recommendation, would be take some of those Solana profits and dump into AVAX and you can thank me doubly later. Maybe like 20-25% allocation.
AVAX is currently at only a $23 billion market cap. Solana is at $90 billion, ETH at $432 billion. 3 of the most promising Web3 games are going to be dropping later this year on AVAX. AVAX bids are picking up and will continue to do so heavily through the rest of 2024. Could easily see AVAX as a 10x.
Will end this note I think the stock market has topped and there are no signs of inflation going down or priced in Fed rate cuts being allowed to happen. Think we see a equites correction that might feed into a continued drawdown for BTC of another 10-20% (it’s already down about 10% I believe). Whats awesome so far, is Solana doesn’t seem to care.
It’s also totally possibly an equities drawdown does the opposite and boosts crypto. I’d say both options are possible, and so not best to bet your whole plan on either. The best option 99% for most people is to do nothing. You already did the most important thing was bought at low prices when 96% of the population still thought crypto was a scam.DO NOT try and overtrade and time the market like I did with my IRA. Be ready for rocky volatility and possibly big drawdowns of 10-30%. Had I just stayed in my core SOL/AVAX position I’d be up another $80k by now, 1% fees have been killing me. I’ve been trying to be to smart. Compounded this could be close to $300-$400k this cycle Wish I could go back but you learn and eyes forward.. I was also shaken out twice, selling the bottom of a draw down, which is the worst mistake you can make.
Ive learned a ton this cycle and those lessons have cost me money, but overall you just have to be happy to be in. I’m in SOL and AVAX now, and some Doge (I know. When Eth surpasses last ATH, Doge is going to go nuts. Elon opens up Doge payments on X, same. Problem is when does this happen, and opportunity cost vs Solana and AVAX now) 40/39/34. Might take the 34 out of Doge, and look to enter on a red day. If I’ve learned my lesson, I’ll just sit right in my position and sell at a life changing amount of money in my IRA end of 2024/early 2025 and just be done with it.
BTC is showing a lot of weakness since last week. Tomorrow when ETC flows kick back in will be interesting to see what happens. The BTC charts are clearly starting to show lower highs and a downwards trend, the asset seemed very overextended at $73k.
If I’m you I’d recommend just sitting tight. The only option I’d possibly recommend is taking some profits and then reallocating to AVAX. Other than that, don’t overthink it and enjoy the ride. It will for sure get bumpy so be ready for it.
Also FWIW, historically the stock market during a populism driven election year has performed at 21%. I think the most likely scenario now, is we see an equities correction that is relatively minor, crypto take a bit of a hit, but then this gives the Fed the ammo they need to drop interest rates and continue pumping fiscal stimulus, as the small correction resets everything and tampers inflation data a bit. So we see a dip in Q1/Q2, followed by a recovery that is one of the most bullish markets we’ve seen since the 1920s for risk-on assets, including crypto. Eventually it all blows up, but everything is setting up for one hell of a ride in 2024 and up through 2025-2026, then it all blows up and follows the historical trend of an 18 year real estate cycle.
Last edited:
BTC crashed to 8,900? Would of been nice to gobble some of that up
www.coindesk.com
Bitcoin Flash Crashed to $8.9K on BitMEX
Large sell orders worth $55.49 million drove bitcoin’s price down to $8,900 on BitMEX. The overnight crash was short-lived.
I'm most surprised that a sale of 850 ish coins could do that.BTC crashed to 8,900? Would of been nice to gobble some of that up
Bitcoin Flash Crashed to $8.9K on BitMEX
Large sell orders worth $55.49 million drove bitcoin’s price down to $8,900 on BitMEX. The overnight crash was short-lived.
Sorry for selling my 800 or so coins, just felt it was time.
I will let you all know when I/O Fund starts selling their BTC.
You are welcome. I/0 Fund Advanced access was $600 (I highly highly recommend it for tech and crypto).
I’ll send my ETH and/or SOL addy for y’all to provide tips.
BTC crashed to 8,900? Would of been nice to gobble some of that up
Bitcoin Flash Crashed to $8.9K on BitMEX
Large sell orders worth $55.49 million drove bitcoin’s price down to $8,900 on BitMEX. The overnight crash was short-lived.
BTC flash crarsh to $0 is hapning
Threw in my last half last week.
Current plans are keeping 10% of all coins I have bought. Selling half at last ATH. Laddering out the last 40% best I can after the last ATHs.
Turned 150 into 528 since I've started trading last year.
Blackrock forced me out of remodels and have been instrumental in my personal ATH. But still would rather not
see the housing market go stupid.
Hard work and skills gained over tens of years have been out paced by clicking a mouse.
Current plans are keeping 10% of all coins I have bought. Selling half at last ATH. Laddering out the last 40% best I can after the last ATHs.
Turned 150 into 528 since I've started trading last year.
Blackrock forced me out of remodels and have been instrumental in my personal ATH. But still would rather not
see the housing market go stupid.
Hard work and skills gained over tens of years have been out paced by clicking a mouse.
Attention degenerate gamblers: those seeking 2X leverage on BTC can now wreck their lives with BITU in their IRAs!
In related news, I'm "wheeling" BITO for crypto exposure, options plays and a dividend/distribution of sorts. Someone tip me off when I need to exit crypto.
In related news, I'm "wheeling" BITO for crypto exposure, options plays and a dividend/distribution of sorts. Someone tip me off when I need to exit crypto.
Not advice here, just my personal projections. Once BTC gets and stays about 72K it will run up to 88,000.00. Then dip below 3 times and IF it goes past that 88,000 price point, it is on its way to about 125K by Christmas, then a pull back to about 90K. But, total speculation on my part.Attention degenerate gamblers: those seeking 2X leverage on BTC can now wreck their lives with BITU in their IRAs!
In related news, I'm "wheeling" BITO for crypto exposure, options plays and a dividend/distribution of sorts. Someone tip me off when I need to exit crypto.
'
Gold going up 30-50.00 a day signals further weakening of the dollar. Not that gold is worth more, its the dollar is worth less. After a strong couple weeks, gold should be taking a little bit of a breather now. If the labor/jobs report comes back a lot weaker than expected, that fool at the Federal Reserve says they will cut interest rates. (Doubtful). But, should that happen, that is when gold will really start to run.
Once silver breaks 28.00 and holds, I think a run to maybe 60.00 an ounce by end of year. Again, speculation, but after JP Morgan was slapped with huge fines after manipulating the silver price, China has been the top manipulator of that metal.
In the recent past, India has begun producing a ton of solar panels, increasing their need for it. So they have driven up the price of that metal in opposition to China's wanting to keep it low. They are now importing 100's of tons a month of a precious/industrial metal that doesn't have much backstock to work with.
Everything I said here, may come true, or it may be total bullshit, time will tell. LOL This is not advice or even a suggestion, its just my personal position. It won't make any difference cause I'm not selling anything regardless, until BTC reaches a certain point then I will divest some into other real things.
Streamer, I guess by your descripition, that makes me a degenerate gambler.
It’s very odd that gold, stocks and dollar index is all going up together. I feel like we are in an everything bubble
The degenerate gambler comment was me being a smart ass. Furthermore, if there is a degenerate gamble spectrum, I am further into the red than you are. I deviate from my core plan to speculate 4-5 times a year. I am in the process of going below .500 on those bets right now.
Agree Tampa, everything is a bubble. You really think those holdings in an IRA, ETF's, etc are real? They're all tied to derivatives and the interest rate, once we get into a credit crisis, and we will, poof, they will disappear and leave millions of people holding the bag.
I don't believe BTC is gonna anywhere. Large institutional investors and some countries are getting involved with it and presumable they know more than you or I. Presumably...
People that held, or those who are "no-coiners" were revelling in the drop in price with Bitcoin a few months ago. But, what many failed to realize is that when FTX failed, they had BILLIONS in Bitcoin in their Bitcoin Trust Fund. When they were ordered to pay back money to depositors, they slowly drained their holding, causing Bitcoin to fall in price.
People felt the price was dropping for other reasons when in fact, as soon as they finished selling those BTC's to satisfy their debt, the price began to move up again. I think, without looking the price was somewhere in the high 30K's?
Today, its trading at almost 72K, so thats not a bad rebound, and it don't have shit to do with the dollar index. It was circumstances that led to its price drop.
People have a fit when BTC moves up 2K to 5K in a day, and I don't know why they do that. It's only a 2 1/2% move, and no one thinks twice when normal stocks move up or down 2 1/2% in a day, its just the large price of BTC that makes it seem odd.
Tampa, you and I have different ideas of what we each like, and that's good thing. I want you and everyone else to prosper and it makes zero difference to me which vehicles you all may use to reach your goals. The last thing I want is for people to fail, especially with money since its such an important part of life.
Good luck!!
That may be true Streamer, but after visiting with you in private, you always seem to have the mindset to bounce back, and I'm confident you will prosper again.
None of us on this board can say every move we've made has been profitable.
I'm still doing well overall, but when I go off course to gamble its a coin flip.
We all pay a stupid tax on occassion. When I stay within the confines of what I'm good at, I'm usually pretty good. Of course, as with yourself, there's always that temptation to go after something that we think looks available, only to find out we didn't connect all the dots. Nothing wrong with that as long as you're using money won/earned, and its disposable income.
When you mentioned in private some of your holdings were staying the same, I acknowledged the junior mining shares I have had done the same thing for me. They lingered and lingered, no movement up or down, but now with the gold prices increasing, Ive seen a 25% increase in the last 2 weeks. It may peter out, or it may catch its breath and then continue upward. Either way, Im not gonna lose any sleep over it.
Even though this is slightly off topic, I would encourage everyone to eliminate as much debt as possible. Especially those debts that are dependent on the interest rates. The time is fast approaching when the Fed will actually cut rates, and when they do we are going to see price inflation, for things we need, go totally through the roof. That, in and of itself, can cause real cashflow issues fora lot of people. Hence, its just good business to lessen your exposure for when that absolutely will happen.
Things are not as they appear to be. As Tampa said, everything is in a bubble and when that bubble bursts, there will be financial hell to pay for all of us. For a short period of time, the more cash you have on hand, the more exposed you're gonna be. Remember, money in the bank does NOT belong to you. Cash, CD's, Treasuries, Bonds, Stocks, they do not belong to you.
Read the Dodd/Frank Act and some of the ensuing legislation if you think I'm wrong.
Having enough cash on hand to take care of essentials and incidentals is, of course, necessary. But, if you have excess cash, I think you should consider either paying down debt or buying real stuff. Not shiny shit thats gonna depreciate, but stuff that's either needed now or will be needed in the near future.
Thanks.
