So Elon Musk basically caused huge panic over the weekend about selling billions of his Tesla shares. People were expecting massive 20%> drop, and it dropped about 2-3%. The SP500 about to break to new high, Dow already broke, ETH broke new ATH and BTC about to break ATH pretty soon.

Does any of this make sense? It seems that people are throwing their money into anything these days , even way over-bought stocks like Tesla. Then you got more Tether prints this week.

There are many people who quit their jobs to go full time in stocks and crypto. You got inflation crazy high. Supply shortages on some items.

Honestly it can go either way. Can go to $250K or it can peak at $75K. Impossible to predict any markets these days. Its a coin flip.

Most retail people and TikTokers these days, when they enter crypto they don't invest in Bitcoin or even Ethereum. They want to 100x their money so what they do is they want to buy NFTs and flip them or they want to buy some low cap DeFI coins to get that nice 10-100x gain instead of buying bitcoin where the most they can earn is what? Maybe 20-50% profit?

So to flip NFTs or deal with low cap DeFI trading you will need Ethereum, hence why the demand for ETH goes up. So the price goes up. With Bitcoin its different. There are no NFTs or DeFI on the bitcoin blockchain so nobody is buying it. Plus its way too expensive. Way better buying a $0.0000001 low cap coin which can go 1000x rather than bitcoin which is already very expensive.

I don’t think it will break $100K at least in December. Many markets including stocks like Tesla are just way way over extended. Look how much the SP500 went up last month something like 15% which is just not sustainable.

I was originally thinking BTC might top in the $70-80K however, it’s possible it might top maybe somewhere in the $90Ks however I don’t think it will break $100K.

There are way too many people who want to take profit at that level, especially the people who bought in at $20K about a year ago. They will be taking profits and it’ll be tough to break $100K in one go.

I don’t get why everybody thinks you can use ASICS to crack passwords. I remember years ago I had an old ASIC for sale. I think it was an Antminer S3 for something like $50 each. I stated in the ad it’s more for hobby purposes and that you won’t get your $50 back due to energy costs unless you hold the Bitcoin to $10K (this was a long time ago).

Anyways there was this one kid who asked if he can “crack private keys” with the Antminer. I told him you can only mine Bitcoin or other Sha256 coins. He then came over and bought it and said he will “hack the firmware” and make it so “it can crack private keys”.

Luckily I never heard from him again. Wonder if he managed to crack any private keys with my old Antminer S3.

Back on topic, no you can’t use an old ASIC to do anything else other than mine Bitcoin or other sha256 coins.

Did you even bother reading anything that the OP is asking? He is not asking about pairs or leverage. Also your comment about the lot being bigger has nothing to do with resistance which is a technical indicator. It almost seems like you used google translate to post this reply because it’s very badly written.


Back on topic,

You need to login to your broker thru the website where you opened the account. You will see an option to withdraw. However before i go any further. Are you sure you weren’t trading a demo account? Because people rarely use MetaTrader for anything except forex and CFDs. If you never deposited money, you most likely traded demo and your profits aren’t real.

You basically gotta put your real money on an exchange, trade where you are pretty much risking pennies and that’s how you will learn. Don’t trade on demo or paper trading. There is no emotions. You will make $1 million dollars trading demo and then you will deposit real money and lose it all.

Only way to learn is to trade as much as you can. You will blow account after account after account but eventually if trading is for you, you will make it. Then you can use your knowledge and experience to trade other markets such as stocks or commodities which is More or less the same as crypto.

Yes that’s exactly what cash and carry trade is. And yes that profit is possible however you need to account for fees  basically 4x. Since you are buying twice and selling twice. Plus any transaction fees to send the coins around.

However the premium is extremely low in my opinion. Back in Q2 the premium was more like 40% annualized. I remember back in March the June futures had a premium of 10% and I think it was something like 12% for ETH.
And for some alts like Litecoin the premium was even crazier like 70% annualized.

Basically if you see funding and premiums that high again, it means we are near the top.

Since you seem to be completely new to trading, the last place to start trading should be on a futures exchange like Bitmex. If you still really want to trade there then deposit no more than $100 of Bitcoin and don’t trade with any leverage. You can trade with even $1 units there. So if you run into a bad trade you might lose a few pennies rather than lose all your savings.

I know that you feel like you left out judging how some people are posting their “gains porn” all over Twitter and tik tok. Where you got some kids who started out with $1000 and made $1 million trading meme coins, you gotta realize that this is extremely rare in reality. Trading is difficult. If it was easy everybody would be doing it instead of working 9-5.

I think DOT would be at $100 right now if it wasn’t for everyone buying meme coins. I think it’s a great project and one of the few that I actually want to keep long term.

It was a great buy around the $30 mark a few weeks back. Basically it was strong support, then strong resistance and it acted as support again and would been a great entry with little drawdown.

I think if the meme coin mania dies down then coins like BTC, ETH and DOT will really start to have a good and healthy rally.

If ETH actually somehow manages to beat BTCs market cap then I am pretty sure that would mean we are about to peak and enter bear market territory.

It might seem impossible but back in 2016 (or 2017) ETH came very very close of flippening BTC. This was before Segwit and transactions were extremely expensive.

Now with what is happening today with NFTs and meme coins i would not be surprised if it did flip however it won’t be permanent.

Market has gone full crazy. Same with the stock market.

These banks and analysts always make these predictions. And half the time they are right the other half they are wrong, so what is the point exactly of them.

I doubt they actually take any positions with their predictions anyways. Just the other day I heard one bank say that the price off crude oil will hit $120 while a few days prior some oil company said that prices won’t go any higher than they are today. Basically nobody knows where anything is going to go in the near future.

I don’t think he is doing this to pump his Dogecoin bags, he is the richest man on earth. I don’t think he is really investing his capital into Doge maybe just his free time.

Shiba definitely won’t be accepted at Tesla, this is just crazy. And I don’t think he bought Shiba either.

Here is what I think,

Like Phil said, Doge is very secured due to LTC mining. Doge is more or less like LTC, maybe missing the Segwit portion. If he accepts Doge, maybe people will use Bitcoin to buy a Tesla car and use Doge to buy accessories such as floor mats. The fees are extremely low for Doge.

However I think that one day, perhaps Dogecoin will be rebranded to say something like PowerCoin (bad example) and I’ll be taken more seriously with this new name rather than Doge which is nothing but a meme coin. And who knows one day it might be a top 5 alt coin.

Top 3 coins

Bitcoin
Ethereum
Dogecoin (PowerCoin)

Shiba and Doge are the furthest coins which you can consider “long term investments”. If you want something for long term investment besides Bitcoin then buy ETH, XRP, LTC, etc but not Shiba.

Shiba is nothing but a meme coin. Only reason it’s successful is because people missed the Doge run so they want a second chance, they got lucky when it got all those listings. However that wallet with the $5Billion in coins started to move and it’s tanking like crazy. Just now it’s making new recent lows. Keeps going lower and lower.

They can provide all the info to the authorities however what are the chances that they will actually do anything? Even if they catch them? Most likely there will be no money left to give back to all the investors.

The writing was on the wall and there was tons of warnings about the project, one hint was why it only went up. And people should of realized there is a good chance it’s a scam when you can’t sell. However on every bodies mine was to get 10x or 100x gains like Shiba so they just bought into this scam. This reminds me of the scam ICOs of 2017.

You make it seem like it’s easy pulling a 100x or a 10x gain. Let me tell you, it isn’t.

Sure you can use a futures broker go 100x leverage and you will make 100x your initial investment if whatever you buy doubles but you can easily get liquidated if it goes close to 1% below your entry.

Sure you can buy some cat meme or some Defi project and maybe in a few months or years it will be 100x however most likely you would sell it before it went 100x and you would need to buy hundreds of these projects to get lucky and pick the one that goes 100x

Credit goes to the twitter user below

https://twitter.com/Tree_of_Alpha/status/1456332297393872899

Seems that Tesla is testing payment in Bitcoin and another coin called SHIBA. However upon investigation it seems that the coin is called SHIBA but when he did a test transaction the address started with D. And then he did a test payment on the Doge network and when the payment was accepted it confirmed on the Tesla servers.

Never in a million years would of I guessed that he was actually serious and would start accepting Doge. Was assuming he would accept Bitcoin and Ethereum. Definitely not Shiba or Doge.

Wonder if someone will actually buy an entire Tesla vehicle paid for by Dogecoin.



 

The guy who owned a large supply of SHIB ended up moving his coins around. Basically like $5B worth sometime yesterday and look at the panic that it created. As long as it was detected on the blockchain all over Twitter and Reddit people got scared and started to dump their holdings.

This is proof how quickly the momentum can change of one coin. Last week it was nearing 10K and now looks like it would break 5K. Basically very little liquidity on the bid side and it’s running out of buyers quickly when it goes lower and lower.

You never heard of FTX before?

It was created by Sam B Fried the guy is worth like $20B or so. I first heard about him because it was Alamedao research which was a market maker in the day now they got their own exchange. It’s definitely legit .

They also sponsored and got their logo and name on many sporting areas. He is doing a great job in making people aware of crypto.

It’s hard to predict the top. Did you think $20k would be the top? No we assumed $10K would be the top. Same with $64K, everybody assumed $50 I would be the top. Now it’s no different, people are expecting $100K to be the top and most likely it’ll either go to like $95K or blow right past $100k.

You can use funding basis to predict tops however in a strong trend most of the time you exit way too early. The funding in early 2021 kept increasing and increasing from Jan all the way to the peak in April. Funding was nuts April something like 50% annualized. That means the top is very near.

It’s hard to say. Generally Bitcoin had these double tops before at ATH back in 2017 and 2020 when it broke. And after a few days it ripped higher up. So it seems like this is a possible scenario, especially being in Nov which is a bullish month.

What I am worried about is that everybody is expecting at least $100K all the way to $250k. We got people quitting their jobs to trade crypto full time, we got Mcdonalds doing NFTs, we got alt coins pumping like crazy especially meme coins.

So it should break ATH again how be careful because there is tons of greed out there.