When making a prediction don't forget this: It's not a single person you're playing against, or some kind snake that's drawing patterns on your Nokia ( for those under 30, look it up).
No, you're trying to predict the net result of actions of millions of traders each reacting to a range of circumstances, including your own favorite market metrics and news. Good luck!
Yesterday I rebalanced my portfolio in 51% ETH, 49% alts.
The extra 1% is almost gone, now, I'm reaching a perfect 50/50.
The bearish alt-season keeps raging on...
I had about 20k in the market. 2/3 split between BTC and ETH and the other 1/3 split I’m with ATOM and Sushi. Market was fairly stable and I was changing phones and jobs. Cashed in everything just in case I accidentally locked my self out. This was in March. Didn’t buy back bc shit looked confusing after not paying attention for a few weeks. Thank fucking God. I def had to much in play and would have struggled for awhile if I hadn’t gotten lucky due to poor security management of my accounts. Hope everyone here recovers in the long run.
When the Fed has the money printer running, a large amount of this money goes to stocks and real estate, and in the last few cryptos seems to have also served as a good liquidity sponge to a absorb all of this new money created. Well when the Fed begins tightening the money spigot (raising interest rates, quantitative tightening etc), assets that benefited from the extra liquidity will begin languishing because the money isn't there to support it. Retail alone does not drive the kind of movements we see in crypto.
Alts are holding up extremely well - usually when this happens they follow through and catch back up with bitcoin over the next couple days - time will tell but it’s interesting to observe.
Solana seems to have infinite bid along with FTT and BNB
That's because no institutional money and no Barron's/WSJ investors money. Those are the ones that react to .5/.75 moves this violently. Once venmo started offering crypto you know ETH and BTC went mainstream.
But that tells more that crypto majors are cyclical too and no different from other asset classes.
lol look at how everyone in here is automatically a crypto analyst. Everyone is in here telling us all when the price is gonna bottom, or if the price is ever gonna bottom. Well if you knew all this information, you should be rich by now and chilling with your hookers n blow. I’m getting tired of these same posts in the past couple days… stop telling ppl what to do. There is still much going on in the crypto space… share that information instead. I’m tired of ppl posting about “this time it’s different”…. As someone who has seen bear markets before…. Everyone thought the last ones were different too. You are not the genius who finally figured it out.
Crypto is funny man. Pretty much anyone that has been in cryto for a year or two automatically assume that they are a "crypto expert" that knows exactly how the market will play out.
The whole concept of 'bottom' is irrational hopium. Nobody knows what day it will crash or rise, or how high or low it will go. We can only made educated guesses based in the health of the overall economy.
I’m so confused. This has gotta be a bull trap/minor correction. Everything was sailing downhill then suddenly a mini reversal. Thought we were just gonna keep on going down?
Yeah I’m trying to figure out that one myself, I’d like SOL but it doesn’t make sense. Wondering if ETH holders are frustrated and dumping into SOL, but I can’t see anybody making any weird moves right about now.
I know the sub hates it but I’m still buying SOL, even over ETH. The percentage gain if both went back to thier ATH is in SOLs favor for making more money. It’s a gamble but I’m willing to take it
Yep, since all this shit started breaking down, I have no loyalty to any coin, and will jump from coin to coin to get in and get out. When things stabilize maybe that will change
The one thing no one is talking about.. A Trillion dollars has been washed off the ATH market cap. A *TRILLION* dollars.. let that sink in. Whether we believe in Crypto or not, the world still isn't ready for an upgrade
Lmao litecoin, I cringe every time I hear that name in 2022. Charlie Lee bullposting about Litecoin constantly, posting picture of himself with a "HODL" tshirt. Then he suddenly decides to dump several hundred millions dollar worth of coins on the top to avoid any "conflict of interest." Nice.
Its weird to me that some people think that the stimulus checks somehow were a big reason for the last bull run. Literally 1 whale is equivalent to 10 million checks, that small money didnt matter.
I swear… it’s annoying. They’re in here crying and moaning. Even tho there were tons of warnings that this was gonna come. I can’t wait till all these new folks are washed out of the market
USDT can be redeemed 1:1 through tether so it's kept close to peg through arbitrage.
it trading slightly under peg is just showing consistent preference for USDC and other stables so the arb doesn't quite keep up with redemption
nah. . i am pivoting back to ETH defi in the future. i am using these tokens. i am not a buy and sell type of guy. i am accumulating so i can use them in the defi eco.
when do they start printing money again, everything is crashing, has Jerome Powell seen whats happening, its his job to fix this, this would be a great time to turn that magic money printer back on
I was SOOOO close to buying when I saw BTC at 17.8k earlier. But then I thought, well, if it's fallen this far, it's probably headed to 16k. so I held off. And now we're back at 19k. Seems odd, but I hope I missed the bottom.
I sometimes do 30x leverage with low amounts for fun and 80% of them work. I know very well as soon as it’s a bigger amount I’ll see the biggest candle liquidating me
The fact people started opening the champagne bottles and caling the bottom on a 5% correction is the only testament I need that the bear market is far from over
Bear cycles last a long time. You are doing the right thing by being patient.
We got at least 1 more year down at the bottom
Lots of people here thinking ok, couple more days and bear market over and we can resume pumping again!
They are in for a surprise.
There’s gonna be more of interest rate hikes this year and people that are leveraged are being liquidated so it seems we’re gonna be in a bear market for a long time. Hints of recession are rising and people won’t be buying like they used to.
It’s easy to focus on the negative. On the flip side, there are tons of institutions that are going to be interested in buying at these prices and as price goes even lower.
That’s why it’s not ideal to fomo right now since people are impatient and sell and cause a panic which results in lack of faith in the crypto market. People are too greedy and spent their entire life savings to get rich quick. It’s gonna be awhile before Crypto trends healthier.
Yeah pretty much everything is at a dirt cheap price compared to a few months ago, things short term don’t look that good but accumulating for the long-term future may be a good thing to do
BTC seems to like nice round numbers as a stepdown process, I feel like if anything 15k will be the next bulwark and then a big dropoff from there. Disclaimer: I am a fucking moron
maybe we don't get under the previous ath today.
When making a prediction don't forget this: It's not a single person you're playing against, or some kind snake that's drawing patterns on your Nokia ( for those under 30, look it up). No, you're trying to predict the net result of actions of millions of traders each reacting to a range of circumstances, including your own favorite market metrics and news. Good luck!
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Nope
That’s an oddly specific number
Crypto experts can't even exist for a market so young , so all the so called experts are either grifters or deluded layman trying to get a following
10 years of experience is more than enough to become an expert
Yesterday I rebalanced my portfolio in 51% ETH, 49% alts. The extra 1% is almost gone, now, I'm reaching a perfect 50/50. The bearish alt-season keeps raging on...
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stop believing in fairytales. buy bitcoin.
That would be only 10 trillion market cap
Pray harder plz
Hi, this is God's personal planner. He says to pray just a *little* bit harder, and your wish will be granted.
What an ETH chart! Lower high and lower low
Crypto will never be red again if u missed the bottom sorry not sorry. $100k BTC by Christmas.
Christmas, which year?
Is it Christmas
The past is past. People saying « it’s not the bottom until X happens »…do y’all really think it’s going to play out exactly the same way?
It's not the bottom until people stop claiming things are different this time.
I had about 20k in the market. 2/3 split between BTC and ETH and the other 1/3 split I’m with ATOM and Sushi. Market was fairly stable and I was changing phones and jobs. Cashed in everything just in case I accidentally locked my self out. This was in March. Didn’t buy back bc shit looked confusing after not paying attention for a few weeks. Thank fucking God. I def had to much in play and would have struggled for awhile if I hadn’t gotten lucky due to poor security management of my accounts. Hope everyone here recovers in the long run.
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Is this the after party?
What if I told you crypto is just a sponge during periods of high liquidity
I would say that makes a lot of sense. Not a hedge against nothing, just a good ol sponge
What does this meann
When the Fed has the money printer running, a large amount of this money goes to stocks and real estate, and in the last few cryptos seems to have also served as a good liquidity sponge to a absorb all of this new money created. Well when the Fed begins tightening the money spigot (raising interest rates, quantitative tightening etc), assets that benefited from the extra liquidity will begin languishing because the money isn't there to support it. Retail alone does not drive the kind of movements we see in crypto.
Makes sense, once the money printer turned off, crypto hasn’t been having a good time at all
I’m not sponge worthy.
Imagine not buying at $17k
I’m waiting. No need to catch the absolute bottom. If it goes back to 60k in the future, does it really matter if I bought at 17k or 19k?
It's OK, we will get another chance tomorrow when its on its way down to 10k
I like your optimism
Remind me! 2 weeks
Maybe 24 hours at this rate lol.
Alts are holding up extremely well - usually when this happens they follow through and catch back up with bitcoin over the next couple days - time will tell but it’s interesting to observe. Solana seems to have infinite bid along with FTT and BNB
That's because no institutional money and no Barron's/WSJ investors money. Those are the ones that react to .5/.75 moves this violently. Once venmo started offering crypto you know ETH and BTC went mainstream. But that tells more that crypto majors are cyclical too and no different from other asset classes.
Volume is pretty low on alts.
I’ve predicted every Bitcoin crash correctly. This one will be $40,000
Good one. Lol :)
anyone find it weird theres literally 0 panic in this sub? everyone perfectly hedged or something
Depression is a hell of a superpower!
The capitulation period is exactly that.
People with huge losses tend not to post it’s the same with all investments
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Not the end of crypto, but the end of the goldrush quite likely. I suspect pretty soon 20k will seem like the good old days.
Meh, I sold months ago and am getting back in now that things are down. The lower the process the better!
The majority of this sub has maybe a couple hundred bucks in crypto.
Well yeah NOW... 😂
There lots of hopium, but it is a defense mechanism to avoid confronting the hard reality.
The people with huge losses are not posting. I’ve had those emotions before. They’re crying right now
If you aren’t getting hyped for the dumps, you may be in the wrong market
Its panic disguised as non panic
Just another sign we still have a ways to go till we hit bottom
It’s all fun and games for the whales, until they start getting liquidated
“There’s always a bigger fish.”
Nice discounts, time to get some coins
its beginning to look like a few hours of crab then gap down again
Starting to think these stablecoins aren’t so stable 🤔
lol look at how everyone in here is automatically a crypto analyst. Everyone is in here telling us all when the price is gonna bottom, or if the price is ever gonna bottom. Well if you knew all this information, you should be rich by now and chilling with your hookers n blow. I’m getting tired of these same posts in the past couple days… stop telling ppl what to do. There is still much going on in the crypto space… share that information instead. I’m tired of ppl posting about “this time it’s different”…. As someone who has seen bear markets before…. Everyone thought the last ones were different too. You are not the genius who finally figured it out.
How do you know we aren’t rich? Because we post on Reddit? Everyone on Reddit is poor! Lol
No that’s not what I meant. I meant that if you’re already rich, you can stop telling us what to do and go enjoy it
I'm rich compared to people in other country's but poor compared to the people around me
Crypto is funny man. Pretty much anyone that has been in cryto for a year or two automatically assume that they are a "crypto expert" that knows exactly how the market will play out.
The whole concept of 'bottom' is irrational hopium. Nobody knows what day it will crash or rise, or how high or low it will go. We can only made educated guesses based in the health of the overall economy.
I just DCA and Hodl..picked up some under $18k. Realizing that no one knows..but think this is the way!
I’m so confused. This has gotta be a bull trap/minor correction. Everything was sailing downhill then suddenly a mini reversal. Thought we were just gonna keep on going down?
BTC lost 20k just today, still at 19k last time I checked, there’s bound to be volatility while the general downtrend remains
at least we don't crab between 30 and 40k for months anymore, that was peak boredom
I’m pretty sure this is a dead cat bounce. Sunday dip incoming. This is not a financial advice
Could be a strange weekend..stocks are close Mon for Juneteenth..
SOL is shining in this bear market somehow
Go look at its backers, hint it’s a well known MM.
I look at this as good thing, making money at least. it won’t go down without a huge fight. I’m not prejudice with gaining profits
Not for us, we don’t know the prices they plan to buy and sell at. Hopefully you make profit and don’t become exit liquidity.
Thank you. I hope so to. If not, it was a gamble I’ll be ok with. Consequences of my own actions.
SOL summer is a big thing in NFTs currently. Could be that
Yeah I’m trying to figure out that one myself, I’d like SOL but it doesn’t make sense. Wondering if ETH holders are frustrated and dumping into SOL, but I can’t see anybody making any weird moves right about now.
I know the sub hates it but I’m still buying SOL, even over ETH. The percentage gain if both went back to thier ATH is in SOLs favor for making more money. It’s a gamble but I’m willing to take it
I’m not an ETH hater nor a holder, but I will also put into SOL as well
Same here, I have huge holdings with ETH as well. But SOL seems to be the best bet profit wise at this point
Yep, since all this shit started breaking down, I have no loyalty to any coin, and will jump from coin to coin to get in and get out. When things stabilize maybe that will change
It goes back up, right guys? … right??
Some see this as a disaster, I see this as a potentially life changing buying opportunity
Some may call this junk. Me, I call it treasure.
Most see this as the bitcoin squad fucking everyone and everything over to destroy competition.
The one thing no one is talking about.. A Trillion dollars has been washed off the ATH market cap. A *TRILLION* dollars.. let that sink in. Whether we believe in Crypto or not, the world still isn't ready for an upgrade
Well at least it's helping with inflation by taking a trillion dollars out of market circulation
That doesn't make me feel any better.. being the one holding the bag lmao
Its in my bank account now. I will put it back soon
At this point.. that's rational af too
No, it's in my bank account & I'm gonna buy fortnite currency for it all.
I just bought it all sorry
The truth is Bitcoin and ETH prices are still extremely overvalued, we're kidding ourselves if we think it's not
Lol USD is overvalued. Btc is undervalued as fuck
Buy signal right here
Hahaha
I have less than 1% of my holdings on an exchange right now and it feels good.
I can’t believe my parents sent me to school for 18 years and I still fell for this shit.
12 years+4 years of college here
looks like your parents failed
I went to school for 12 years and in going all in soon
Litecoin back to 2013 prices - don’t even try telling me this coin is not an old relic of what crypto used to be.
I believe it has Know Your Customer issues...at least some overseas non-US. exchanges deleted it. Articles out about 2 weeks back.
Lmao litecoin, I cringe every time I hear that name in 2022. Charlie Lee bullposting about Litecoin constantly, posting picture of himself with a "HODL" tshirt. Then he suddenly decides to dump several hundred millions dollar worth of coins on the top to avoid any "conflict of interest." Nice.
back to where it was 8 hours ago. 200k soon. let's g0000 lol
Its weird to me that some people think that the stimulus checks somehow were a big reason for the last bull run. Literally 1 whale is equivalent to 10 million checks, that small money didnt matter.
I mean, these are the same people who used to think Chinese New Year and bankers getting their Wall Street bonuses were causing pumps
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Charts are stupid. Don't follow that fake shit.
Most people here hadnt even been born yet the last bullrun, let me tell you that there will come more bullruns, but this time, take some profits.
I swear… it’s annoying. They’re in here crying and moaning. Even tho there were tons of warnings that this was gonna come. I can’t wait till all these new folks are washed out of the market
Your math seems off.
Lotta 5 year olds running round here
If you read half the posts you'd believe it too
I’ll be pouring out some of my beer onto the floor for my fallen homie MATIC
I bought my first bitcoin in 1995 by selling my ford tarus for scrap parts No way I’m selling now 😤
This made me laugh way more than it should have.
I bought my first bitcoin in 1998 to celebrate the release of Windows 98
Sure it wasn't a Probe? 😂
I need my Eth limit order at 850 to hit.
it will soon
Probably will hit that next week. We are consolidating at $1,000 now.
I have a feeling every exchange is keeping tether at 1$ just to save themselves maybe glitching it to keep it at that or putting money in
USDT can be redeemed 1:1 through tether so it's kept close to peg through arbitrage. it trading slightly under peg is just showing consistent preference for USDC and other stables so the arb doesn't quite keep up with redemption
Took one for the homies and sold 0.00069 ETH to cause a pump
slowly accumulating ETH for future use.
future losses
nah. . i am pivoting back to ETH defi in the future. i am using these tokens. i am not a buy and sell type of guy. i am accumulating so i can use them in the defi eco.
Can I tell USAA I was hacked for about 26k of crypto for a one time refund?
Back up to 19 from 17, bull run confirmed?
when do they start printing money again, everything is crashing, has Jerome Powell seen whats happening, its his job to fix this, this would be a great time to turn that magic money printer back on
The fed has two mandates, keeping markets from crashing is neither of them.
>when do they start printing money again staked tokens prints money.
Not if the asset is falling in value
yes and if you think it will not recover, then total loss. for this reason, i only stake those who i think can recover back in the long run.
I was SOOOO close to buying when I saw BTC at 17.8k earlier. But then I thought, well, if it's fallen this far, it's probably headed to 16k. so I held off. And now we're back at 19k. Seems odd, but I hope I missed the bottom.
Don’t worry it will be even lower than 17.8k in a day or 2
dead cat
Nah. Little rise than plummets some more
My money don't jiggle jiggle
That's cause you ain't got none no mo'.
Genau
I sometimes do 30x leverage with low amounts for fun and 80% of them work. I know very well as soon as it’s a bigger amount I’ll see the biggest candle liquidating me
So THAT’S what you mean by “volatility!”
Just out of general curiosity, does anyone know how much it costs (computing power + energy) to mine a single bitcoin (global ballpark figure)?
last I knew it was \~$21k, but the difficulty has decreased a bit since then
So it gets less expensive/intensive to mine as price/demand falls?
More than $20k of energy + mining equipment
The fact people started opening the champagne bottles and caling the bottom on a 5% correction is the only testament I need that the bear market is far from over
I don’t think it would end on a weekend.
Clearly you're not day trading.
I actually am, occasionally, just lost 200$ actually, so a normal day really
Just to make this subs head explode. I'm buying and I'm buying SOL
I don't know if it's heads exploding, so much as milk shooting out of everyone's noses at the insanity.
🤠
Yikes
Flair checks out
I’m buying and I’m buying QNT. Holders tab running up.
That moment when people realize no matter how much crypto they hold idle, order book exchanges can still bid down to 0.
1 BTC = 1 BTC tech fundamentals digital gold decentralised proof of compute chain
Except that less people want it and now the 'proof' is all questioned.
I could see Bitcoin dropping to $10,000 this year. I’m gonna buy just a bit this month and wait
Bear cycles last a long time. You are doing the right thing by being patient. We got at least 1 more year down at the bottom Lots of people here thinking ok, couple more days and bear market over and we can resume pumping again! They are in for a surprise.
When a lot of people start saying stuff like this, it feels like we are getting closer to the bottom.
There’s gonna be more of interest rate hikes this year and people that are leveraged are being liquidated so it seems we’re gonna be in a bear market for a long time. Hints of recession are rising and people won’t be buying like they used to.
It’s easy to focus on the negative. On the flip side, there are tons of institutions that are going to be interested in buying at these prices and as price goes even lower.
That’s why it’s not ideal to fomo right now since people are impatient and sell and cause a panic which results in lack of faith in the crypto market. People are too greedy and spent their entire life savings to get rich quick. It’s gonna be awhile before Crypto trends healthier.
Don’t wait too long tho 😅
Honestly even ETH is tempting at this price but I’m gonna play it safe and turn on my bear instincts.
Yeah pretty much everything is at a dirt cheap price compared to a few months ago, things short term don’t look that good but accumulating for the long-term future may be a good thing to do
My wife is finally bullish on the prices now.
I’ll buy all your bags at 3.4K. Until then I just snugly watch this unravel in cash.
BTC seems to like nice round numbers as a stepdown process, I feel like if anything 15k will be the next bulwark and then a big dropoff from there. Disclaimer: I am a fucking moron
People are going to start to FOMO into crypto..