I read somewhere that the dump was due to a mining pool (F2 Pool) sold a huge amount of bitcoins (3633) and leveraged x100 for the selloff. Those who tried to take advantage of the current price movement got liquidated but its not likely that it had something to do with the recent dump. Not sure how accurate the F2 Pool selloff rumor is but stop losses are essential especially in a crypto market that is volatile. Stop losses poses as your security blanket. What's important is how to properly place your stop loss. Ideally, it should be where you can still have a little profit from your first buy but when you're in a bull market like right now, where dips are bound to happen but a bounce is more likely.

With the rate of how the price is going up, $100K is really doable, so long as no bearish event or news will occur. Since there is already institutional adoption and interest creeping in, we can maybe expect to hit that even before the year. Some suggest even as early as June-July.

Another question to ask is how many more dumps will we experience just like the one previously before we get there? We can see many weak hands shaken from this recent "crash". Surely, it's not going to be a smooth ride towards $100K. Many more weak hands will be shaken down in the market corrections to come.

I get that you're skeptical of the interest-earning platforms but since you're intending on holding your coins for the long term, why not allocate a portion of it? There is huge potential for gains especially since you're just letting it sit there. Nothing ventured, nothing gained.

Just a curious thought, will you be opting to allow crypto as payment for rental from your tenants? That would be cool though.

I like your plan because real estate is a sound investment unlike how other coiners out there dream of buying a lambo with their coins in the future. Cars are not the best choice to spend your money on because the moment you purchase it, it depreciates in value whereas real estate does the opposite. You should consider buying in a location situated where you think there is possibility of development. Location is very key in real estate investing. Right now is actually a pretty good time to buy because of the pandemic.

FUD will always be present and once someone starts to panic sell, it follows quickly like a domino effect. People will sell during a 10% dip but refuse to liquidate a gain of 2x or 5x.. Seasoned traders are filling their bags right now, taking advantage of this dip. I can see many posts and comments asking whether this is already the end and if they should already run for it. Unfortunately, new comers in the crypto space will be shocked by this kind of thing. If they cannot stomach this kind of thing then crypto may not be for them.

Key points:

• Treasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.
  
• She spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.

Source: https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html

To say that people buying bitcoin as a transaction mechanism is ridiculous but to say that it is used for illicit finance is even more ridiculous.

Whether we like it or not, he is capable of making the markets move. Some people are even inciting that the reason for BTC price dipping is because of his comment recently when he said that prices were a bit "high" as seen in this article. Although the market is really due for a correction after hitting ATH just recently and TA suggests that it will to try to reach support of 50,648 area, Elon's statements could have given it a nudge. And as one of the richest man in the world, you really can't deny that people will follow what he says. As you can see how he hyped for Dogecoin has brought other celebrity investors like Snoop Dogg. After all, he owns a great amount of BTC so many eyes are on him and what his next moves will be.

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It's because we are currently experiencing a bull run. The general trend of BTC is going up and the news can either affect the price and make it go up and down.

Additionally, I think we are in that phase where celebrities are joining in which also encourages new retail investors. Asides from Elon, you can see other celebrities speaking about it on twitter such as Gene Simmons, Snoop Dogg and streamer/gamer Mr. Beast. That one time Elon changed his profile picture to something bitcoin or crypto related has driven the price upwards. Other than that, there's also interest from institutions ever since Tesla made that $1.5B purchase. Any exposure on crypto can really drive the price up.

It might be hard for you to find good entries if you don't know how to read bearish signals or know when there are going to be dips. Bitcoin is hard to short trade and without some skills, you might end up losing more instead of getting gains from just holding. Since bitcoin is more suited for long term and given your age without the need for the cash at the moment, then it is best to hold all the way but if you're really keen on maximizing the current bull market and looking into getting some gains then you could use your time to learn how to trade. You could also choose to diversify your portfolio. During a bull market is the best time to profit from other coins. You could flip other coins once you've profit from them and reinvest it into BTC.

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If it's a question of "can", then yes you very well can trade without any experience or knowledge. Will you be trading successfully? Then that may be a different matter altogether. Trading blindly is very risky especially when you don't know any indicators or have no idea when is the best time to to enter or make that trade. Not to mention leveraging and margins can definitely make you lose your money. The very least you should know the basics. Some exchanges such as Etoro even have assessments to determine your risk profile.

However, someone who reads tons of books about trading and has attended tons of classes does not always mean he can be very good in trading. Experience is still the best teacher. Not everything can be taught on paper.

I wouldn't exactly call them weak hands, you'd have to take some profit at some point otherwise paper gain is useless. I won't judge early adopters who already exited or plans to exit once BTC hits $100K. They waited and endured for so long. Of course, if you're a seasoned trader and long time crypto enthusiast then you would know how to exit and use a portion of that to buy back on a dip. I foolishly sold everything last 2017 ATH and it still hurts like hell but was a worthwhile lesson. I was young and naïve who had no foresight whatsoever, and hey I was at college so getting easy buck was very enticing. Bottom-line, we can very well expect many to take profit at $100K - whether they would regret or not is not for us to tell.

A few years back I never imagined to read the words

from any financial institution. You would think everyone was allergic to it back then. Bitcoin as an investment is still very risky, and I can't imagine banks offering bitcoin investment products however there's Bitcoin ETF underway and BNY mellon has already warmed up to bitcoin as well. If it was a partnership with a well known bank, I think the news will be blowing up but First Boulevard doesn't ring a bell to most and digital banks are still obscure to this day.

Many early adopters will surely take profit soon and with Bitcoin hitting a milestone like 1 trillion marketcap, a correction won't be too far away I guess. I also don't think that were at the point of world adoption yet. It's not even that popular yet. There's paypal already and I think in the near future Mastercard but world adoption is still far since some countries are even looking into banning it i.e India. 1 trillion marketcap is undoubtedly a remarkable milestone which will only drive more investors into the crypto space.

Bitcoin has way more support now compared to the 2017 bull market. Back then there was a lot of FUD and panic sellers brought about the scam ICOs. Right now there's more positivity and even acceptance from big institutions. Bitcoin is still very volatile and there is still some hesitation from the general public. While it is expected for the market to go bear at some point especially with all this positivity, I don't think it will drop as significantly as it did in 2018. Keep in mind though that we should always have an exit plan.

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Flexcube is a very outdated software, it goes way back to the 90s and is prone to many tech errors plus it crashes very often. (I had some experience using it) This is why there is a maker-checker system in order to mitigate human errors however this is sometimes not enough, as proven in this unfortunate event. I understand why they first attempted to address the situation to tech support, during my time using it we had to consult with tech about three times in a week. And the thing about using flexcube is there is no fallback or safety system once the action has been done. A similar situation happened in the past where "primary" was ticked instead of only "settlement" and just like that, all of the money got out. The money was returned though but the fault was on the operations team who erroneously ticked the wrong boxes. Its kind of scary to think how ticking of wrong boxes could lead to lost of millions and even with checkers and quality team looking out. You would think Citi should at least opt for a new system considering how outdated Flexcube already is and it potentially would cost them millions on human error for simple things like ticking the wrong boxes.

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Naging legal naman ang trade na naganap para dun sa nakabili sa presyo na $300,000 at hindi naman siya gumamit ng hack or AI para ma-execute yung trade at di naman 'to ninakaw. Once a transaction has been made, hindi na yun mababawi kahit pa may mali yung isang side. Negligence na yun ng nagbenta. Hindi na yun kasalanan ng buyer kasi glitch sa side nila yun. Opinyon ko lang pero mahihirapan ang PDAX pwersahin yung bumili na ibalik kasi mahina ang laban nila dito. Para sa akin naman kung ako siya, ilalabas ko na agad yung pera ko at kukuha nalang ako ng lawyer. Mas may laban pa din yung swerte na nakabili pero hindi siguro ito bibitawan ng ganun ganun lang ng PDAX, baka ika-lugi nila ito.

In this case, I would view your capital gains as separate from the transaction you made using your gains so this will be treated as two taxable instances, IMO. There will be tax for 1) gain from your capital and 2) the purchase but it would ultimately have to depend on the tax framework of your country. In most cases, as long as a purchase is made it will be taxable whether or not crypto or fiat is used. Even if what you use to purchase is your gains from BTC appreciation, it will still be taxable. Value Added Tax (VAT) is already built in transactions so you won't have to manually deduct taxes on your purchases since its already built in as in compliance to the law.

I'm not sure that there's a way to stop this. It looks to be inevitable for institutional investors to be flocking in. I've even heard of the trading app 'Robinhood' (the one infamous for stopping the wallstreetbet traders from further buying doge and GME stocks) will soon adopt crypto as well. For sure more users will be able to buy crypto with the use of Robinhood as it will be easier but then this will be regulated by them. But honestly even with wide institutional adoption from payment merchants such as paypal, visa and mastercard, and bitcoin was used as a payment option, it wouldn't dominate the blockchain transactions. I doubt that a large percentage of the population would utilize this as only about 1% is said to own crypto. For now, institutional investors will be in favor for the crypto space as this exposes to more adoption. I think Litecoin has better chances of being adopted as a payment rather than BTC. People look at it more of as a store of value now.