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Bitcoin and Ethereum are bought and sold highly with leverage, hence significant movements in either direction can cause liquidation cascades hence the more sort of 'violent' movements. And to add to that, liquidation cascades on DeFi loans with ETH and wBTC as collateral.
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Its hard to catch the the cheap while the market still bleeding and its early to tell that we are generally buying the dip since as we see the market still on downside and many people still not done with their worries about worst situation that might happen. I'd rather want to trade short at the moment rather than biting the risk brought by current events and live with it.
Quick tip: you can DCA-ing (for long term holdings) while at the same time shorting the markets for profit(if you know what you're doing). You don't always need to be 100% long or 100% short. |
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People is holding base on the support they see then since the strong support has been broke up for sure many people will get afraid more and maybe we can see more selling pressure. I can't say I will buy at this point right now since $19k just newly reached and this is truly bad because we might experience more downfall because for many people will make this a basis that we might see a long days of bear market season again.
While it's highly likely that we're going lower like I said, don't try timing bottoms — as you don't really need to catch the literal bottom to perform well in the long term in the first place. Just make that you continue to have enough money for bidding. |
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There's something about the psychology of previous all-time highs and full round numbers($20,000) that I think when broken, people would be tempted to sell. So while I already started DCA-ing, I wouldn't be surprised if go lower. Buckle up.
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Welp, so apparently the bottom wasn't actually in, as we actually tapped $18,700 on FTX and I wouldn't be surprised if we go lower once US peeps wake up. 🤷♂️ Oh well.  |
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Ultimately, sobrang daming cryptocurrency projects na kahit ngayong nagsi-bagsakan na lahat, nasa hundred millions to billions parin ang marketcap kahit sobrang walang kwenta ung produkto at kahit halos walang gumagamit.
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It's your call. I don't know either — but if I were to be forced to answer this question, I'd say 70% yes, 30% no. If the economy further becomes worse (which is likely the case imo), despite bitcoin being quite 'low' already, people might end up being forced sellers to be able to afford food and bills and such.
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An idea: accept payments through Lightning. You (potentially) earn a bit of money passively, and you get people to actually try using Lightning wallets. As for will people use it, there's only one way to find out I guess.  |
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Dont DCA when the trend is nlt in the DCAing trend. Bear market is not a good time for DCAing.
DCA is mostly used by people that just realize that they can't time the market, and that they'll just continue to buy in consistently regardless of market sentiment. Not DCA-ing in times of bear markets but only in bull/ranging markets is quite an absurd strategy if you ask me. |
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Can you prove it?
Nope. Hence why I said in my previous post that it's 'supposedly' backed. Just like the money in your PayPal account. In both cases we're hugely trusting a US-based company. Definitely, but that doesn't make it any different than just having a central database (AKA, spreadsheet) wherein the users' transactions are saved. It's less useful than PayPal, with extra steps.
Yes. But that's besides the topic. It's pretty much the crypto-version of PayPal. But in the end — my main point is that people find it useful, so people that doesn't have access to USD through banks use it. Sure people could use PayPal, but the likeliness of getting de-platformed is far higher with PayPal than being address-locked with USDC (at least for now). |
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To be honest, we're in the season where the study of the market and strategy will mostly provide negative results because experience traders are also making a huge loss,
Just a heads up that shorting (and with leverage as well) exists, hence actual experienced traders can make a lot more money even in huge drawdowns like the one we're having right now. If you're an actual experienced trader and you can only make money in bull markets, are you really an 'experienced' trader? |
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But, they don't access the US dollar; they access a centralized currency that's supposedly pegged to the US dollar. And my question is: Why would someone outside the US want to access the US dollar? If they want to pay a US merchant online, it's better to have an intermediary to convert their EUR, GPB etc., to USD automatically, like PayPal. And that's because fiat currency is centralized by design.
On the other hand, with a stable coin, you need A) an intermediary who'll convert USDC to USD and B) an intermediary whose word has to be taken that USDC isn't backed by thin air.
Though it's backed — USDC might not technically be 'real' USD, but it works. It can be used as a currency and for payments just as how BTC can be used; and a good number of people do not actually convert their USDC to their local currency unless needed because they can use it online. Also the fact that some people feel more comfortable having USD exposure through USDC rather than holding their local currency. ^Not saying that people should or should not trust USDC, but a good number of people do. |
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If I wanted to have dollars, I'd get a bank account at a reputable bank. There's no need to add an additional third party in between.
That's you, and not approximately 90% (just a guess, don't quote me on this) of people outside the US without access to (or with great difficulty accessing) the US dollar. |
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1. Practice with virtual portfolios first for a while
2. Use smaller allocations per trade so you have more runway even if you get consecutive losses
3. Think about your trades really well first before pulling the trigger
4. Don't trade
Pick one.
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A formal economics education (and a degree) definitely helps a lot but you don't necessarily need a degree to have a somewhat decent understanding of economics and to have a decent, non-trashy, and well-thought of opinion.
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Try going under Digital Goods[1]. Having a separate section solely for websites/domains would be totally unnecessary due to the very low number of such buyers/sellers. And yes, Bitcointalk has some trusted escrows.
[1] https://bitcointalk.org/index.php?board=93.0 |
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What should be their option?
It's fiat, not stablecoin. Stable coin is like Wrapped BTC that is more convenient in eyes of newbies but that stable coins are not actually fiat currencies. Their values are not actually equal to fiats.
USDC is (supposedly) actually backed 1:1 with the US Dollar. The only reason to not use it if you're skeptical that the company behind it(Circle) is doing something shady or is insolvent. |
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Isn't this exactly what our hardcore brothers and sisters who still believe in Ponzi schemes do? Get in early knowing it's a risk business that could stop any time and then get out before things go south?  There's a huge difference between "still believing in ponzi schemes", versus knowing that it will inevitably implode but that you could still make trades/moves and win in the end. (e.g. farming the yield, then getting out and shorting $LUNA) |
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Is high volatility a plus or minus for crypto?
It's neither — because it's just a natural effect of the asset class being highly illiquid. It's not like we can force an asset to be not-volatile, especially knowing that no one controls bitcoin. Can we keep the natural volatility but raise the level to which the value of the currency falls?
? ? ? |
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