DCA (dollar cost average) is a well known way to build up a position in Bitcoin (also applicable to other assets). Once a large enough position has been built and there is a desire to exit, what are some strategies on the way out?
Let's say we've DCA'ed in for 4 years and now want out. What are some good ways to reduce your position without DCA'ing out over 4 years (again)?
Dollar Cost Averaging can be used for Bitcoin and altcoins and of course you have to choose very good altcoins to DCA. https://dcabtc.com/https://www.blockchaincenter.net/dollar-cost-averaging/DCA is good for long term investors. If you have weak hands, DCA does not help actually. |
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As the market is very volatile, strategies have to adopt or you are the one to adopt the changes and test every single strategy that you know.
Volatile contains opportunities and risks. It bring opportunities to good traders and good investors. It brings risks to bad traders and bad investors. Yes, if I'm trading and I find something good and very well effective and proven. Why would I leave that strategy even if I saw some other effective strategies from others yet I haven't tried it? There is this essence that if you're doing good with what you've chosen as a strategy, just keep going and as long as you're seeing the results and effectiveness. Don't leave it yet because that might be where you belong and where you're good at.
An effective strategy is good for you but it can be bad for others. Because one trading strategy is not applicable for everyone. Depends on your personal characteristics, greed, calm, hurry, emotional uncontrollable, etc. you will have to choose one trading strategy that can work best for you. Rather than trying to waste money and use your pocket money to practice and choose a good trading strategy, why do you not holding Bitcoin? |
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The BEP2 chain is already BNB's native chain. I'm not sure if the Smart Chain is a pegged token or they migrated some of the supply to that chain but it is working fine and it is already independent from Ethereum. Making BSC compatible with Ethereum was a good move because a lot of developers either moved over to BSC or are making cross-chain products that can be accessed by BSC supporters.
It seems people use BSC more than BEP2. Cross-chain or Interoperable chain is attractive for people because they would prefer to choose a chain that gives them more convenience. https://exchange.coin98.com/Coin98 Finance is built for multi chain and I think it will compete with Uniswap, Sushiswap for the leading position in DeFi. It was born later than Uniswap or Sushiswap but I think that one is growing very fast. |
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So do you mean only 34k GBX and the coin will be listed as wGBX on https://yieldfields.finance/?It is not a too expensive listing cost but does Yieldfields Finance is good and has good volume? I can not find this one with coinmarketcap or coingecko. How long does the Yieldfield finance operate? |
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Viewbase has table and chart for exchange flows (in / out). https://www.viewbase.com/coin/bitcoinIn last 30D, 151,759 BTC was moved from exchanges. It is a big number and if you knows data from Glassnode, you will see it is similar to the trend of holder accumulation. Since May, Bitcoin ownership has changed from short term to long term hodlers.  Bitcoin HODL waves for Middle-aged (3m-1y) and Old coins (1y-5y) show the other side of this equation.
Younger coins are held dormant and thus mature into older and older age brackets over time showing the conviction of $BTC holders is high.
https://twitter.com/glassnode/status/1425272897363320833 |
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i think i can relate on this belief mate because the binance smartchain seems to be the main reason why people are loving this exchange and also their own cryptocoin.
Because teams see plus points if they build up their blockchains on BSC. Investors like it. Traders like it, so why not use BSC. I have to agree here,,, half and half. The fee issue was also something people talked about Bitcoin for a while. But scalability and fee are temporary problems as ETH is now fixing that and a lot of the pain is gone. Security is the biggest thing,,, and if you do not have that, then you are just waiting for a big problem like you can see with BCH and BSV always getting 51% attacked.
When Bitcoin has issue with transaction fee, people choose Ethereum as alternative. After the birthday of Binance Smart Chain, they have another alternative chain to choose. Bitcoin, Ethereum (ERC20 chain), Binance Smart Chain are top chains now. Some crypto exchanges have their own built chains and will try to compete with top chains. Altcoin chains are more vulnerable to attack than Bitcoin because they have lower and weaker hashrate. yah even that Ethereum is promising the version 2.0 that will be the answer for that high gas fee in congestion time, yet this is not enough assurance for the people who already experience that said huge fees recently.
Gas price is not cheap as I imagine after the hard fork. https://www.gasnow.org/ |
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this is the time for defi and nft, so many of their new projects mostly use bsc.
It is the time for altcoins and a new altcoin season that does not limit to only DeFi or NFT tokens. Projects that have capability to run on multiple chains get more interests from investors. Duel, multiple chains are very big advantages for them. Projects that have their blockchains run on a single chain have less attraction to investors. Because any chain will have uncontrollable time with expensive transaction fees. People would prefer to choose a chain that gives them cheaper transaction fee. but if bsc is said to be the new ethereum, I don't think it can match it yet. we know ethereum has improved and is currently experiencing a high level of trust again. on the other hand we will see in the future about the development of this project, whether it will become dominant in the long term, thus attracting investors and allocating it to nft and deficient projects.
Who said BSC is a new Ethereum. CZ calls it as a Ethereum killer. BSC does not need to be a new Ethereum, be itself. Ethereum and BNB |
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I hope none of projects I follow that's also working on blockchain interoperability like Polynetwork suffer the same fate.
Convenience comes together with risk. Interoperability gives more convenience and obviously more risk for people who use those interoperable chains for their transactions. I don't use DeFi or interoperable chains with big transactions. I don't know what happen behind the scene when I click on Swap. It sounds I am a stupid crypto investor but I use Swap on DeFi for small money. Hack is just one of thing I don't like. Another thing is slippage, with big money, you will get minus point and lose profit when you swap. |
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but look at the comparison mate , ethereum almost consistently having that transaction per day while in binance there are chances from time to time. means the ethereum users are constant and efficient .
but of course i am a Binance supporter and user so i may rely on thos thread to make me rich in earlier time.
I know but growth need time to goes from volatile to stable. After soaring growth, if Binance Smart Chain remains its transactions after up and down, its temporary growth will become a future basement. It is a new support like in the price chart for Binance Smart Chain. I think with Binance ecosystem and their creative products for the crypto community, Binance Smart Chain will grow more and BNB will get price as Ethereum has now, in the next years. I can wait, next 4 years to witness BNB above $2000. |
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on Black Thursday last year, the price of Bitcoin plummeted, and many short-term players sold one after another. In this kind of loss, such short-term players are more likely to buy when the price rises, sell when the price falls, and buy back at a lower price.
Short term investors are losers in market crashes. Last year in March, this year in May, June and July. They are losers because they don't really believe in future of Bitcoin. They only begin their investment with greed and lack of knowledge. They are fearful with market crashes and if they are leverage traders, they don't have chance to choose between selling or holding because their margin positions will be liquidated by exchanges. After market crashes, long term investors get richer and they have more power to manipulate the market in the future. Short term investors, traders and losers are fearful when price dives but they are greed when price soars. They do oppositely to long term investors. |
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BNB is one of the coins on my long-term investment list besides BTC and ETH.
Binance's dominance on the exchange will definitely greatly affect this coin, especially the coin burn they do is enough to make the price stable.
Binance dominates the crypto exchange competition and they don't show that they stop their creativity and leadership. There are many exchanges but Binance is the leader and their products are released ahead of other exchanges. They create trend and other exchanges join trends created by Binance. After Binance Smart Chain from Binance, other exchanges try to create their own chains.
Do you think BNB will have price of $3000 like Ethereum next four years?
This is very likely to happen, some even predict this year BNB could reach a price of $2,000, but tweeted from Musk about Bitcoin greatly affecting the market, so all altcoin prices fell including BNB. It takes patience to be able to see our investment in BNB reach a high price, so you don't regret selling too cheap If Binance won't reach it this year, it will reach it in next 2 to 4 years. I will try to collect about 50 to 100 BNB in the next 2 years. I consider it as my second chance after I lost my Bitcoin in 2017. |
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The main thing to take away from this news is they will have a limit of up to $100,000 in a single transaction to be cashed out by their customers.
I don't think any other service allows this on their platform.
With google allowing ads pertaining to bitcoin again, it is showing google's acceptable that it is not a hindrance on their business model after all.
It is a big news but effects are not as big as people imagine or over optimistic it can have. I agree it is good for crypto market because it will bring more convenience to people who are still hesitating to begin their crypto adventure. From more convenience, more people will actually begin their adventure and bring more capital to the market. Good news is good but if people are over optimistic, they will be more vulnerable to fud when reality is a bit different from what they imagine. Governments will challenge the growth of crypto market and FUD will be there to attack naive people and their naive over optimistic belief. |
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If you are in the market since 2017 or earlier so fjavascript:void(0); :-\ar, you would have more than 4 to 5 years in the market and you actually are one of witnesses of Ethereum growth. Binance Smart Chain is a chain from Binance, and its token BNB has good exponential growth since 2020. What do you think about BNB next 4 years? Do you think BNB will have price of $3000 like Ethereum next four years? Some comparisons between BNB and Ethereum. Total daily transactions: Ethereum has better start but BNB grows faster and now have total transactions that is about 8 times higher of Ethereum total transactions daily. - Ethereum: https://etherscan.io/chart/tx Highest number of 1,716,600 transactions on Sunday, May 9, 2021
Lowest number of 1,329 transactions on Sunday, August 9, 2015
- BNB: https://bscscan.com/chart/tx Highest number of 13,173,787 transactions on Thursday, July 29, 2021
Lowest number of 38 transactions on Sunday, August 30, 2020
I believe Binance will create own native chain for Binance Smart Chain. What do you think of BNB when native Binance Smart Chain is available? I did not have chance to buy Bitcoin at $300. I did have chance to buy Ethereum at $300 and did bought it but I did not hold it from $300 to $3000.  |
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Regulations are necessary to make the crypto market to mainstream and legal tender.
DeFi, NFT, Bitcoin and crypto market will definitely targets of governments to regulate more seriously. I don't think regulations are bad for the market. It is very good because if the crypto ecosystem can be free from scammers by more seriously regulations, it is the better. I know the fact that scammers can not be eliminated forever because they will adapt to regulations.
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Gas price on Ethereum network won't be cheaper as expected after the hard fork but it might need more time to show what it can help to reduce transaction fee. People love cheap transaction fee but right now, on Ethereum network, there are many hot things, DeFi, NFTs, etc. that together affect the transaction fees. The burned Ethereum is very good idea to make the total supply smaller. It makes Ethereum becomes more valuable. Price must rise as the coin has smaller total supply. With the potential of Ethereum, I believe the coin will has price about $10,000. I hodl some Ethereum in my wallet and won't sell it too cheap. You can sell it now to enjoy the rise and volatility on the market but long term, try to hold about 10 ETH in your portfolio. It is like you hold 10 BTC in 2017. https://www.gasnow.org/ (41 Gwei to 52 Gwei from Slow to Rapid). It is not good gas price. |
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If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
1 Bitcoin is 1 Bitcoin but you don' get any profit if you don't sell your Bitcoin. You can see your balance rises in value but you don't get it actually if you don't use your Bitcoin to buy anything or don't sell it. In the future, you will have more options to use your Bitcoin for many things in life and don't have to sell it to fiat. I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
Loan is bad and if you are bad in risk and liquidation management, you collateral will be liquidated and you will lose your Bitcoin. How to keep the bitcoin while getting the initial investment income?
You can lend your Bitcoin on exchange and gains interest from it. However, it is not too good because the worst advice is store your Bitcoin on exchanges. |
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