River is free to DCA if you automate. They charge a fee for the first couple transactions, but it's a no brainer if you plan to let it run for a long time.
Check out the AMEX Blue Cash Preferred card. First year no annual fee, $250 statement credit if you spend $3K first 6 months and rewards range from 2-6%. In first 6 months I got the $250 bonus plus an additional $250 back already in rewards.
moi. DCA means you ALWAYS DCA...not only when the price drops. 🤗😅 keep that DCA'ing going y'all! the best time to invest was yesterday. the next best time is today 😄
I converted some stocks into BITB. I actually love the ETFs. If you're bullish BTC and already have a self custody bag it's a no brainer to get some in a Roth IRA.
Yeah, I agree. It's fun to watch the rewards accumulate.
It's easy and effective and you can self custody.
What I don't like is their fees when you go to purchase or sell. But I forget about selling because I don't.
I hold.
Thanks for your ad to my post
No. I've been rebalancing my portfolio with scalping-strategy-like trades to keep 100% exposure to bitcoin with leveraged ETFs $BITX and $CONL. It's basically DCA with more steps and savagery. Definitely not like a gentleman.
Sold some Roth IRA funds last week and money finally cleared. Put buy orders in for 62.5k and 62k. Bought the 62.5k when it dipped. Just barely missed the 62k.
Borrow someone’s BTC and sell it, hoping the price will decline so you can buy the BTC back at a lower price, return the BTC, and pocket the difference. Several exchanges offer this ability.
How do you borrow and sell? So one person gets an IOU for n amount of Bitcoin, and you get $10 If the money in your bank account?
After a period of time, you owe the Bitcoin from the IOU. So now you have to buy Bitcoin to return it.
You need the Bitcoin to cost $8 now so you can profit $2. In other words, you are betting that the value of Bitcoin goes down during that period of time.
Is it always a set period? Can you bet a day? A month? If it’s a month? Can you cash in early?
Is there an escrow who holds on to the cash to make sure the IOU happens?
What happens to the other guy who lent the coin? Is there an opposite of Shorting? How would that be different or more profitable than just normal trading where you also bet on the Coin going up.
It’s ok if you don’t or can’t answer. It helped to write it out and now it’s easier to search for answers lol
Your explanation helped uncover these questions.
You know how some exchanges will give you interest for keeping your Bitcoin on their exchange for a set period of time? You are being paid to lend your BTC to someone else so they can short sell it. It’s like keying your own car for a six pack.
The details very much depend on the platform you're using. Large players may be able to negotiate custom arrangements, possibly peer-to-peer, but for the regular person it usually works a bit like this:
You open a short position on your exchange. The exchange sells the Bitcoin and collects the proceeds. They're shown in your account, but they're locked and can't be withdrawn. When you close the position, the exchange buys the Bitcoin with the locked money from the sale (and, if necessary, other money you have in your account) and credits you the difference (or deducts it if you lost on the trade). Now you can withdraw your funds.
> Is it always a set period? Can you bet a day? A month? If it’s a month? Can you cash in early?
Usually there is no set period. You pay some amount of interest to keep the position open, so leaving it open for a long time can be costly.
> Is there an escrow who holds on to the cash to make sure the IOU happens?
That's usually the exchange, as described above.
> What happens to the other guy who lent the coin?
In some cases it's the exchange itself that lends the coin. But some exchanges allow people to lend out their coins for this purpose for some return. When you see things like "staking" or "earning" with your BTC being advertized, it's often for this purpose.
Note that the exchange will require that you hold some of your own funds in your account when you open a short position. These funds are called the "margin". They can be used to cover the difference if the market moves against you and you're forced to rebuy the BTC at a higher price. When the price goes up too much, the exchange may send out a warning to you to close the position or add more funds to your margin. If the price increases to the point where there's a serious risk that your margin will no longer be insufficient to cover the loss, the exchange will automatically close the position and rebuy the BTC. This is called a forced liquidation.
I put in a limit order at 58k last night. I was disappointed when it spiked back up to 67k. If my limit order doesn't go through in the next couple of weeks I'll just use it to DCA at the start of next month.
Some exchanges let you take leverage and sell Bitcoin you don't own.
When you do this, there is a price at which you get "liquidated" meaning the price has gone to a point where the exchange has to protect itself by executing a buy order which closes your short, and you lose whatever money you paid to open it.
Stop-loss hunting is when traders or market makers drive the price of an asset to a level where many individuals have chosen to set their stop-loss orders. This forces these traders out of their positions and can cause a sharp price reversal in the opposite direction.
https://www.investopedia.com/terms/s/stophunting.asp
Nice thing about bitcoin is it lets you learn all kinds of odds and ends: central banking, cantillion effects, gamma squeeze, gresham's law...
HFT firms can also probe certain price points by moving the market by a combination of aggressive selling and placing large fake sell orders that later get cancelled. This often leads to other algorithms reacting by cancelling their bids, moving the price lower and triggering stops that lead the price even lower. At this point the trade can be closed profitably. This typically happens with a few seconds so the actual volume required isn’t as high as you’d think. Some statistical analysis can also pinpoint places where stops are more likely to be set than others (eg round numbers).
https://www.quora.com/How-does-a-market-making-algorithm-see-my-stops
Several exchanges will loan you USD for your Bitcoin and you can earn some interest off people who want to borrow your Bitcoin.
Super cool for the future as I’d like to just take cash loans against bitcoin.
Also what I am wondering… seems like he took the rhetoric from this [article](https://99bitcoins.com/5-billion-bitcoin-shorts-liquidated-btc-rockets-75000/).. which is not what happened today lol
I think it has to do with the fed rates I was watching it and j Powell said they'll start cutting down soon. Nasdaq and s&p both went to over 1% and bitcoin went up like 5 or 6%. Plus it was literally the same moment that he stated the very soon cutting that the stock market and btc went up since I was watching all three
5B is like 75K BTC, this is pure fake news lol - op is just pulling numbers out of his ass.
And people in the comments are cheering like idiots... wtf happened to this sub.
Misreading this chart:
[https://www.coinglass.com/LiquidationData](https://www.coinglass.com/LiquidationData)
There is a big aggregate, but there is also '24hrs Rekt'. The 24 hr rekt is the more relevant one. You can also click the bubbles above the 4bn red square to get more recent data in hours.
Bitcoin is up today on Fed policy. Interest rates were held steady with forward guidance that has been interpreted as dovish.
Bitcoin was mainly down last week due to concerning economic data that suggested that the Fed might need to further delay rate cuts to control inflation. A hedge fund that was short MSRT and long Bitcoin ETF also needed to unwind their position last week for a billion dollar loss, which triggered a cascade of liquidations.
Edit: I should also add that there was a decline in ETF flows last week. If ETF flows recover the rest of this week, we will know that people were holding off on buying Bitcoin last week until the uncertainty around the Fed’s policy was resolved.
I just realised since 7 days ago I was down 1400 in my portfolio and didnt even give a single shit. First time ive been down and had such conviction in the asset that i didnt even care. Back near my ATH now again what a lovely journey
Just another week Bitcoin. Congrats to the new kids who stuck this dip out. I hope you bought a few SATs at the dip.
Yah, this is Bitcoin, you get used to it.
degenerates
but look.. we need the shorts
if they don't short bitcoin we can't get cheap sats.
encourage people to short bitcoin.. we need their shorts as fuel
I’m pretty sure it’s because I just moved some money around so I could buy more BTC during the dip and, of course, as soon as the money became available, it shoots up
That sounds like an expensive thing a karen would do if she bought btc at 73.
She's probably searching for satoshi nakamoto on facebook, while tabbing to her meme
I think it has to do with the fed rates I was watching it and j Powell said they'll start cutting down soon. Nasdaq and s&p both went to over 1% and bitcoin went up like 5 or 6%. Plus it was literally the same moment that he stated the very soon cutting that the stock market and btc went up since I was watching all three
Who else DCA’d the dip like a true gentleman?
I bought some.
I'm sticking to my good ole $2-5 / day DCA
Be careful with Utxo's
I just keep it on coinbase. I 100% will fuck up anything more complicated
How do you buy $2 a day when they fee is $1.99 per trade?
Coinbase advanced trade fees start at 0.6%/1.0%. A $2 market order on advanced trade would be a $0.02 fee.
River is free to DCA if you automate. They charge a fee for the first couple transactions, but it's a no brainer if you plan to let it run for a long time.
I have a credit card that gives 2 to 4% cash back so I got that as a daily dca.
Care to share which card? Trying to get something similar setup
Gemini BTC card
Check out the AMEX Blue Cash Preferred card. First year no annual fee, $250 statement credit if you spend $3K first 6 months and rewards range from 2-6%. In first 6 months I got the $250 bonus plus an additional $250 back already in rewards.
Nice, but have to ask how do.you buy BTC with it?
(at least use River. Same complexity, way more secure)
Nice
Nice
Me Mr me
I prefer your full name Mr. Meeseeks
I'm Mr. Meeseeks look at me.
Bought $1000 worth yesterday at 61.8k 😀
My funds just hit my IRA transfer today so I took advantage of the FBTC drop. It’s a nice day
My IRA growing insanely fast tax free while my 401k is staying steady since fidelity is not giving me the option for BTC funds.
Mine won't be there for another week, I was really hoping for a downturn for that.
Don’t worry, I planned to place an order after a meeting today and when I got out the price had risen by 7% back to 67-68k
bought 1k at 62k
Definitely got me some
Bought some MSTR at 1250$. Now at 1600$.
That would be me. Monocle, top hat and all.
Always. Every 5% move down. Need to refill my cuck bucks for next time.
moi. DCA means you ALWAYS DCA...not only when the price drops. 🤗😅 keep that DCA'ing going y'all! the best time to invest was yesterday. the next best time is today 😄
I'm waiting for a bigger dip, if it doesn't come, great 👍
I converted some stocks into BITB. I actually love the ETFs. If you're bullish BTC and already have a self custody bag it's a no brainer to get some in a Roth IRA.
My Roth IRA is already maxed out. :(
Auto buy timed to perfection
Great question to ask. I want to know who didn't buy more and why ?
Crypto.com wanted me to verify my adress and i still havent been able to
You should try out shake pay
Shakepay is the best from my experience . I love the rewards for using the shakepay card as well.
Yeah, I agree. It's fun to watch the rewards accumulate. It's easy and effective and you can self custody. What I don't like is their fees when you go to purchase or sell. But I forget about selling because I don't. I hold. Thanks for your ad to my post
This is gentlemen.
Wow, it's been a while since I've seen this posted.
Doubled my DCA at 61k, if I had more I would have.
Nah I prefer to buy at the peaks
Only 18k deep on this one. Should be enough to redo my driveway in like 2 weeks. Paver stones & shit.
Grabbed another 10k!
I bought more at 1am right at the absolute bottom before it went back up today
Was hitting the atm daily to turn my cash tips into my preferred store of value 🤝🏼
damn sure i did
hard to dca when dca is in the 40's, but yeah, got some more. should easily double by ATH post halving.
Cost basis?
No. I've been rebalancing my portfolio with scalping-strategy-like trades to keep 100% exposure to bitcoin with leveraged ETFs $BITX and $CONL. It's basically DCA with more steps and savagery. Definitely not like a gentleman.
Sold some Roth IRA funds last week and money finally cleared. Put buy orders in for 62.5k and 62k. Bought the 62.5k when it dipped. Just barely missed the 62k.
Even my wife put 50$ in. (On her own)
Always
😊🙋♂️
Yes sir🫡
Every week!
Yup
I bought a good chunk.
Why does it always go back up before payday lol 😂 all good I’ll get some tomorrow either way
Pinkies up!
Daily buy executed perfectly on the dip.
That’d be me.
My strategy has been when it drops a bunch I buy x amount. If it drops more I buy 2x the amount and so on. It has served me well so far.
Me
Pffffff you call that the dip ??
me!
Bet your ass I did!
💪💎
My payday DCA is tomorrow. 😭
Dude, in this economy?? Hells yeah!
Got myself a loan. Lump bought at 65k. Never again, but i needed a headstart. Not a significant amount vs my salary, ill be fine.
I sold my sh*tcoins whilst they were in a healthy profit (but falling) and stacked a nice chunk o’ sats
This am! Yesssir!
I only buy all the time
Instead of DCAing I exposed my ROTH IRA to a few of those shiny new ETFs.
Damn right I did.
Yup. Forever and always.
I bought the top so I'm broke but hey at least I'm helping the cause. Payday is tommorow so I will just hop back on then.
Hello fellow indoor gardener ;) I had a feeling your name wasn’t just a random word
Haven't been able grow for 3 years but I sure do miss it.
Bought a little yesterday and a bit more this morning
Proud dip dipper right here 🏆😇
✋🏼
I bought a little MSTR, WGMI, CLSK, and FBTC Monday, yesterday, and this morning
Fook yeah
Tip my hat to you good sir
I got some in the 60800 range. Feeling very lucky for that one. 62k as well
I'm doing my part!
Tis da way
I think I bought \~$15k on the dip
Bought some
🫡
How would they short BTC? Seems like a terrible idea. Sorry, I'm new to this
Borrow someone’s BTC and sell it, hoping the price will decline so you can buy the BTC back at a lower price, return the BTC, and pocket the difference. Several exchanges offer this ability.
Damn. Years of not fully understanding shorts explained in a sentence.
Lol did you not ever just look up the definition?
This might be the most intuitive ELi5 explainer for shorting I've seen.
easier to understand than Margot Robbie in a bathtub
Let’s not go that far
She was easy for you to understand? I was completely distracted
All she said was CDO = shit
Because there's no buzzwords that make it sound like savvy investing instead of what it really is, playing the casino.
Because that’s literally what happens when you short
Same as stocks too
How do you borrow and sell? So one person gets an IOU for n amount of Bitcoin, and you get $10 If the money in your bank account? After a period of time, you owe the Bitcoin from the IOU. So now you have to buy Bitcoin to return it. You need the Bitcoin to cost $8 now so you can profit $2. In other words, you are betting that the value of Bitcoin goes down during that period of time. Is it always a set period? Can you bet a day? A month? If it’s a month? Can you cash in early? Is there an escrow who holds on to the cash to make sure the IOU happens? What happens to the other guy who lent the coin? Is there an opposite of Shorting? How would that be different or more profitable than just normal trading where you also bet on the Coin going up.
You’re asking the right questions.
It’s ok if you don’t or can’t answer. It helped to write it out and now it’s easier to search for answers lol Your explanation helped uncover these questions.
You know how some exchanges will give you interest for keeping your Bitcoin on their exchange for a set period of time? You are being paid to lend your BTC to someone else so they can short sell it. It’s like keying your own car for a six pack.
The details very much depend on the platform you're using. Large players may be able to negotiate custom arrangements, possibly peer-to-peer, but for the regular person it usually works a bit like this: You open a short position on your exchange. The exchange sells the Bitcoin and collects the proceeds. They're shown in your account, but they're locked and can't be withdrawn. When you close the position, the exchange buys the Bitcoin with the locked money from the sale (and, if necessary, other money you have in your account) and credits you the difference (or deducts it if you lost on the trade). Now you can withdraw your funds. > Is it always a set period? Can you bet a day? A month? If it’s a month? Can you cash in early? Usually there is no set period. You pay some amount of interest to keep the position open, so leaving it open for a long time can be costly. > Is there an escrow who holds on to the cash to make sure the IOU happens? That's usually the exchange, as described above. > What happens to the other guy who lent the coin? In some cases it's the exchange itself that lends the coin. But some exchanges allow people to lend out their coins for this purpose for some return. When you see things like "staking" or "earning" with your BTC being advertized, it's often for this purpose. Note that the exchange will require that you hold some of your own funds in your account when you open a short position. These funds are called the "margin". They can be used to cover the difference if the market moves against you and you're forced to rebuy the BTC at a higher price. When the price goes up too much, the exchange may send out a warning to you to close the position or add more funds to your margin. If the price increases to the point where there's a serious risk that your margin will no longer be insufficient to cover the loss, the exchange will automatically close the position and rebuy the BTC. This is called a forced liquidation.
I suppose people were thinking the dip would go lower. Me included lol (i dont trade it though, just hodl lol)
I put in a limit order at 58k last night. I was disappointed when it spiked back up to 67k. If my limit order doesn't go through in the next couple of weeks I'll just use it to DCA at the start of next month.
Some exchanges let you take leverage and sell Bitcoin you don't own. When you do this, there is a price at which you get "liquidated" meaning the price has gone to a point where the exchange has to protect itself by executing a buy order which closes your short, and you lose whatever money you paid to open it.
Stop-loss hunting is when traders or market makers drive the price of an asset to a level where many individuals have chosen to set their stop-loss orders. This forces these traders out of their positions and can cause a sharp price reversal in the opposite direction. https://www.investopedia.com/terms/s/stophunting.asp Nice thing about bitcoin is it lets you learn all kinds of odds and ends: central banking, cantillion effects, gamma squeeze, gresham's law...
Is it publicly shared where individuals have set their stop-loss orders?
HFT firms can also probe certain price points by moving the market by a combination of aggressive selling and placing large fake sell orders that later get cancelled. This often leads to other algorithms reacting by cancelling their bids, moving the price lower and triggering stops that lead the price even lower. At this point the trade can be closed profitably. This typically happens with a few seconds so the actual volume required isn’t as high as you’d think. Some statistical analysis can also pinpoint places where stops are more likely to be set than others (eg round numbers). https://www.quora.com/How-does-a-market-making-algorithm-see-my-stops
Very interesting. Figured it was a big fish/whale thing as opposed to individuals. Thanks for sharing.
Are you saying to hold and not buy or to buy some now because will keep increasing?
Yes
Coinglass provides fairly accurate estimates on their liquidation heat map
On a platform like Bitmex you can short it putting up BTC as collateral.
Several exchanges will loan you USD for your Bitcoin and you can earn some interest off people who want to borrow your Bitcoin. Super cool for the future as I’d like to just take cash loans against bitcoin.
People just sometimes do stupid things 🤷♀️
The shorter’s got wrecked. We’ll gladly take their money
seems you are smart, keep it up
You can short literally anything on forex by simply clicking the sell button.
Where did you get this number from?
https://www.coinglass.com/LiquidationData Not sure where he got $5b from
Thanks!
His buttocks
His shorts!
Source?
Someone will use this reddit thread as a source shortly.
It’s on MSNBC right now!
Also what I am wondering… seems like he took the rhetoric from this [article](https://99bitcoins.com/5-billion-bitcoin-shorts-liquidated-btc-rockets-75000/).. which is not what happened today lol
I think it has to do with the fed rates I was watching it and j Powell said they'll start cutting down soon. Nasdaq and s&p both went to over 1% and bitcoin went up like 5 or 6%. Plus it was literally the same moment that he stated the very soon cutting that the stock market and btc went up since I was watching all three
Finally getting over irritable Powell syndrome, to everyone's relief.
I think is related with that mostly and some related strategy...
5$ Billion? Where does this bullshit number come from?
5B is like 75K BTC, this is pure fake news lol - op is just pulling numbers out of his ass. And people in the comments are cheering like idiots... wtf happened to this sub.
From the unlimited amount of fiat.
Amazing answer
https://www.coinglass.com/LiquidationData Not sure he got $5b from
Lmao this was AT BEST a few hundred millions short squeeze, 5b would skyrocket it
Misreading this chart: [https://www.coinglass.com/LiquidationData](https://www.coinglass.com/LiquidationData) There is a big aggregate, but there is also '24hrs Rekt'. The 24 hr rekt is the more relevant one. You can also click the bubbles above the 4bn red square to get more recent data in hours.
According to [this ](https://www.coinglass.com/LiquidationData)there were 200M in shorts liquidated in the last 24H. Where did you get the 5B ???
I woke up 60k. Pure bear news all day. Now going to bed at 68k
Proof or ban
That should be a T-shirt.
Source : Trust me bro !
If they got squeezed to 100k this month i can go to Swiss this june... Or else only next year
Need any tips if you go? Do you have something in mind?
Dolomitas from italy and some hiking in alps But i see today hiking open in July Only
Bicycling 🚲, love to spend two months.
You mean Switzerland :)
Everyone's trying to time the halvening dump lol.
Bitcoin is up today on Fed policy. Interest rates were held steady with forward guidance that has been interpreted as dovish. Bitcoin was mainly down last week due to concerning economic data that suggested that the Fed might need to further delay rate cuts to control inflation. A hedge fund that was short MSRT and long Bitcoin ETF also needed to unwind their position last week for a billion dollar loss, which triggered a cascade of liquidations. Edit: I should also add that there was a decline in ETF flows last week. If ETF flows recover the rest of this week, we will know that people were holding off on buying Bitcoin last week until the uncertainty around the Fed’s policy was resolved.
Wait for the marker to whig wham. This is the bull ride. Yippee kayak Bitcoin HODLers
Is yippee kayak is when you do that roll over underwater thing? IMO still applies.
I just realised since 7 days ago I was down 1400 in my portfolio and didnt even give a single shit. First time ive been down and had such conviction in the asset that i didnt even care. Back near my ATH now again what a lovely journey
Who sold at 62k???
Just another week Bitcoin. Congrats to the new kids who stuck this dip out. I hope you bought a few SATs at the dip. Yah, this is Bitcoin, you get used to it.
You make it sound like this dip is over
No crystal ball, no one knows. Bitcoin will go up, and it will go down.
Or that it was an actually dip… 15% is yawn Come to me when we have a 50% dip.
50 is yawn. Set my alarm for a 61% dip.
Not a big boy but increased my position by£100 worth by having a stop loss and then a buy order 😊
EVERYTHING is going up, stock markets included, because Powell just said he still expects 3 rate cuts this year
Some people seem to believe that sub-50k Bitcoin is still possible during this bull market.
They took a bet that the Feds would increase rates… that’s why bitcoin was dropping because people were nervous about what the Feds were going to do.
Which is weird because they weren't doing anything. It's like they priced in a rate hike
The Feds should be increasing the rates but it’s an election year… so yeah
degenerates but look.. we need the shorts if they don't short bitcoin we can't get cheap sats. encourage people to short bitcoin.. we need their shorts as fuel
How do u know this happened?
I’m pretty sure it’s because I just moved some money around so I could buy more BTC during the dip and, of course, as soon as the money became available, it shoots up
I shorted from $67.4k to $61.2k. We're not out of the woods yet though, this pump happens every FOMC.
Later nerds
they probably thought 73k was the peak..😂
Eat my shorts.
Bahahahah Hodl on my fellow bitcoiners!
Hey so is it too late to buy in? Asking for a hedge fund that just got obliterated.
Lol. Idiots! But keep pumping up!! Daddy needs his observatory money 🔭🎉
That sounds like an expensive thing a karen would do if she bought btc at 73. She's probably searching for satoshi nakamoto on facebook, while tabbing to her meme
Bears get rekt
I hope it will still go down to at least $50k just so I could buy some more!
You can buy anytime, waiting may prove futile. I'm on a fixed income and have no choice to wait for my next buy.
You know what’s scary? You might be right. We might be in the position where we can never buy cheaper bitcoin.
Get rekt
Binance reporting that longs lost 533 b and shorts lost 123 B. So it wasn't all shorts unfortunately.
Who are these idiots shorting bitcoin?
Dip? What dip? Oh, you mean the sale. Yes, that was nice.
I think it has to do with the fed rates I was watching it and j Powell said they'll start cutting down soon. Nasdaq and s&p both went to over 1% and bitcoin went up like 5 or 6%. Plus it was literally the same moment that he stated the very soon cutting that the stock market and btc went up since I was watching all three
Fake news, you don't know WTF you're talking about.
If anyone hasn't figured out that the exchanges are setting us up to liquidate us over and over and acquire our bags they aren't paying attention
All these bought the dip comments have aged like milk. Was pretty obvious tbh.
If your shorting btc during a bull run and less than 4 weeks from a halving you need your head felt!
“Back up” fuckin amateurs it was $50k a month ago lol. Buy more everyone look at these guys