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The huge wave of muggles that bought at the top, and amateur daytraders that panic.
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I was sure it wouldnt pass 8K and sold most of my coins at 7K. I was 80% cashed out, in the bank. I already had enough money to take a break from work for several years. Then I did something I swore I would never do and used my remaning coins that had been in cold storage for 4 years to trade. I margin traded a few altcoins and within weeks and I made back all the coins I sold, times 3. Suddenly I'm way too heavy on crypto again and am scrambling to formulate a withdrawal plan with exchange solvency now in question.
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Im not staying in a market thats going to lost 90% of its value and then bounce back in 10 years. Im going to use that money on other investments and then get back in at the bottom.
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25% in bitcoin
40% on crypto exchanges
35% in bank and other investments
I'm constantly trying to adjust these percentages and take more money away from crypto but I keep making more crypto money faster than I can take it away.
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Tera where are we now on that map of yours?
January 25, 2018 |
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So my banks just complained. Apparently churning too much money in and out of exchanges has them worried shitless that the taxman will complain. Might have to register as a business to keep trading at the current levels of volume. Not sure I wanna deal with that shit. Especially the part where I have to give up half the profit. Blah.
To me, this is worrying more than annoying. Any hint of coordination among banks? How long between the two complaints? If you only had money coming in and no money going out they probably wouldnt have a problem with it. This is why we need something like Tether but which is reliable. What do you mean you have to give half your profit? I know already as a daytrader I have to give up 40% of my profit every year in income taxes. I thought registering as a business would actually prevent taxes until you took out money (paid yourself) to spend it. |
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Good morning everyone.
It appears that btc did a nice +200€ during the night, is that a sign that the FUD is decreasing and the traumatism of the recent 'crash' is almost over for the noob community ?
Or am I too optimistic here ?
It has just begun. This is the slow slide like 2014. Just wait till we see who the new gox is. |
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This is so stupid. Have you ever looked at the volume of cboe futures? Its like 100.
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URGENT? Can you explain the urgency of this post? This is the epitome of something that is not urgent. Just another petty speculation. And the target is only 12K? We might miss a 5% profit? Oh no.
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First there is.. does the hedge fund manager know anything about bitcoin. Does he know how the code works, how the network works, and how a fork would affect it, etc.
Real world events have 100x less impact than bitcoin related events.
Second there is.. Is the hedge fund manager being honest or talking his book?
If youre bullish at 11K thats fine but has nothing to do with the hedge fund manager.
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Um what exactly is the chain in the bull's rear attached to?
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You ruined it with "hedge fund manager" - no way am I going to listen to one of those about bitcoin.
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except there is no volume on the futures exchanges
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Split up your coins into a portion of coin and portion of fiat.
For the coins "I am confortable with only having this many coins for the long term future of bitcoin"
For the fiat "I am comfortable with taking home this much fiat even if the coins become worthless"
If you can come up with that distribution then it is a gift and you should withdraw everything to your bank and cold storage and then ignore the market. Whatever you do dont stay on an exchange for years.
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Like the last 3 movies I watched included a gold digging wife that stayed with their shitty husband because he made money and then as soon as he loses the money they want to get a divorce and take the children.
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I know everything is off by 1 year, but bear with me here... Jump to exhibit D for the punchlineExhibit A Guys I have some bad news for short term speculators. I just got back from the future in my time machine and I managed to take a screenshot of 'wisdom.  Exhibit B Here is a bullish and a bearish possibility moving forward, though I am no longer placing bets on the downside as it is too risky at this point, even if that case were to materialize.  Exhibit C  There have only been two bubbles in bitcoin. Bubbles are actually a series of multiple bull-runs (about 4). Inbetween bull-runs are short consolidations and inbetween bubbles are deep prolonged crashes. It's somewhat like EW theory. Every rise in itself is not a "bubble" - this is a misnomer. Exhibit D  Here is how an EW analyst might see the future. (abc would be longer time but I couldn't fit on chart). I could try to rationalize the peak with something like ' all governemnts ban btc once it is big enough to pose an actual threat to fiat currency' or 'catastrophic protocol failure or unresolvable scalability issue', 'world financial meltdown / wars' or simply ' competition from something better'.
I also gave multiple reasons for a drop which we weren't really having back then but are having now.sry for the bear thread  hodl |
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Here is how an EW analyst might see the future. (abc would be longer time but I couldn't fit on chart). I could try to rationalize the peak with something like ' all governemnts ban btc once it is big enough to pose an actual threat to fiat currency' or 'catastrophic protocol failure or unresolvable scalability issue', 'world financial meltdown / wars' or simply 'competition from something better'. Look at this prediction I made in 2014  |
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This fits the format of late 2013 / 2014 better than early 2013. early 2013 was this immediate 80% flashcrash that rebounded on huge volume. late 2013 / 2014 was a slow jagged grind down on lower volumes, which is what is happening here. Im not saying it's going to happen but in no way can you compare this chart to the early 2013 chart.  early 2013 which looks nothing like the current chart |
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