BITCOIN

silvercue

silvercue said:

BTC is very close to All Time High v USD and has actually just passed it v GBP.     There is a chance that once it hits USD ATH it may retrace a bit

It was always going to happen.  Has not dropped much though, just needs to build some support and try again.  May take a few attempts.  

Scottex99

Catastrophic dump to $64.5k now.

Sell it all. 

OR

Just wait till it re-tests and rips to $80k. Halving will get us there at some point anyway

silvercue

BTC had an unsurprising rejection at ATH level (USD), dropped quickly to £48k and bounced straight back up to £52.5K and rising.  Will test ATH again, and may be rejected.  Great time for those that are trading.   I never have the balls to do that with large amounts.  Just hold and wait for exit point.  

Scottex99

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

silvercue

Scottex99 said:

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

Yes, I am guilty of not selling when I should.  I will have a better plan this time.  I have open ETH position from under £600 and BTC from £7k.

Largest holding is ADA though.

noitsnotme

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Malthusian

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

Scottex99

See you at $400,000.01 mate.

2 halvings from now I’ll be sure to pop up haha

Scottex99

silvercue said:

Scottex99 said:

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

Yes, I am guilty of not selling when I should.  I will have a better plan this time.  I have open ETH position from under £600 and BTC from £7k.

Largest holding is ADA though.

Very nice, open as in spot holdings? Surely you haven't paid the funding rate on them for years if not?

What's the conviction on ADA? ETH 2.0?

silvercue

Scottex99 said:

silvercue said:

Scottex99 said:

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

Yes, I am guilty of not selling when I should.  I will have a better plan this time.  I have open ETH position from under £600 and BTC from £7k.

Largest holding is ADA though.

Very nice, open as in spot holdings? Surely you haven't paid the funding rate on them for years if not?

What's conviction on ADA? ETH 2.0?

Yes, BTC and ETH held in my wallets.  No costs.  

I like ADA and Cardano in general as it is the most decentralised, secure (no downtime ever, no breaches, hacks etc) and reliable.   It also has a blossoming Defi world where I make APRs of 20-50% for doing very little and liquid staking, where I never lose control or ownership of my assets and still get rewards.    It is also very cheap to do anything on the network.  The downside to all of that is it can be slower to develop on and won't simply allow some of the less secure terms from USDC etc.   

But I will leave it there as this is a BTC thread not a general crypto one.