I don’t think it was the top, I think the top will be more in the $75-85 area or so. Maybe even at like $95K. However I don’t think it will go somewhere crazy like $100-250K which is what most people are expecting.

Many people here might disagree and call me a bear. Or that I am having 2018 market PTSD. However it’s just the goal i set in the past and I will stick to it. Not getting out of Bitcoin just will hopefully be able to buy it back cheaper if a bear market comes.

Right now if you are looking at the sentiment most people are long. Usually the higher price goes the more people go long and the funding starts to get more and more positive. Generally when this happens, the market is over leveraged and usually there is a nasty spike crash. However currently the market is that that over leveraged like it was back in April.

In April the futures were trading at something like 50% apr annualized, I remember ETH had June expires and they were something like 12%. So lots of cash and carry in those trades. And the rally stopped shortly after because market was way way over leveraged.

No one here can really give you any advice because nobody knows how high or low Bitcoin will go in the near future. The only advice I can give you is if you are going to buy it, either get a hardware wallet and keep it on there or if you are going to leave it on the exchange then at least use 2fa which is non SMS.

Also don’t margin or trade futures. Sure it’s nice seeing people showing their 1000% gains with their 25x leverage trades however keep in mind most people end up losing their accounts that way.

My advice is you should avoid using WiFi if you got a bunch of rigs. For some reason the more rigs you got you run into stabilities issues with WiFi.

I use old router that are 15 years old and never have any problems. You can also connect one router into another and another if you need more connections. Routers got 4 lan outputs if you need more than 4 then get another router and plug the router into one of those connections and now you got connections for 7 rigs with your 2 routers.

Here is what I have noticed when it comes to people expecting Bitcoin to crash or go to like $250K. Most people who were around since 2017 or so, are just more cautious than new people who started to invest during the covid crash.

This is why we are much more alert and we try to protect our capital rather than those who are new and want to sell at $100-250K. Most of the old traders who’s post or tweets i read they all got a take profit of anywhere between $74-85K or so.

The $74 is a fib area, $85K is another fib area. We also don’t think $100k will break because many people want to take profit in that area. So might even go to like $95K and drop. Or we could be all wrong and I’ll hit $250k and we will feel like idiots.

Been a few days and nothing is confirmed yet. Maybe they are still implanting the software. So far if you follow that Twitter thread a few people called out the guy that posted it. Mostly because it was a new account and the address where he sent the doge was empty.

A few days later the guy posted a response. Saying that he wants to be anonymous and he sent the payments but it was to another doge address. The doge address in the photo expired but he got another one where he actually did send the funds. So to me it seems legit. Probably need to wait a few more weeks however.

Yes tapering and increased rates will eventually happen. I didn’t think that the US government was still sending out any stimulus Cheques however. Today’s CPI was horrible, basically last time it was this high was in the 90s. So I wonder if the fed will take action. So far they are saying inflation is temp due to supply shortages like the auto chips.

If I were the OP, I would just keep mining. The stock market, the meme coins, the NFTs are all over stretched. The only thing right now that I can see going a little higher in the near future is BTC. It can go to $75K or $85K or even $95K. However I don’t think it’ll break $100K this cycle. Way too overbought. And there are way too many people making too much money trading lately. So that’s not a good thing. The bubble might bust any day now.

I think the average leverage is something like 10x this was confirmed by Arthur Hayes of the Bitmex exchange a few years back. Most people use leverage to reduce counter party risk. Instead of sending an entire BTC to trade you can just send 10% and use 10x leverage and if the exchange or your account gets hacked you only lose 10%.

You can always add margin anytime to prevent liquidation and withdraw when your balance becomes too big. I think that nobody actually trades 100x successfully. Maybe 25x if someone is taking a quick scalp however 100x means if the price moves less than 1% against you, you are liquidated.

So today I was eating at a restaurant. It wasn’t one of those fancy dark lite places but something like a Denny’s only slightly fancier. And sitting right next to me was some douchy looking dude wearing sun glasses, indoors. He is ever so cool.

Low and behold I look at his phone and I see he has Binance open. He is talking to his girl friend saying “When i get a signal I click Green to Buy and Red to Sell”.

He also said some douchy things like “Most people got real jobs but I just do this and make way more money”.

So obviously this is a top signal more or less. People without class basically quitting their jobs to trade crypto full time”.

Seems this is becoming almost a daily occurance, you are shopping and someone is talking about Dogecoin, or Shibacoin or Tesla, etc.

Not even during the peak 2017 did I run into so many people who are talking about trading. Way too many people are making too much money trading these days. This can’t end well.

I started reading the thread, then I noticed you were talking about master luc, then I checked the date and didn’t realize it’s an old thread. Speaking of masterluc , how is he doing? Haven’t heard about him in ages. I remember his predictions were always spot on.

Now the only old timer that still posts is that guy posting the stock to flow model and how BTC is going to hit $98K in Dec and something like peaking at $250K this cycle sometime later this year.

The price of Doge seems to have increased a little since this news was first discovered. However it’s hard to say since pretty much everything is rallying. However there is speculation that since Tesla accepted Bitcoin in the past,
And musk said they would accept it again. People are fairly certain it will accept Bitcoin, that’s a given.

However musk had a poll a few months ago should doge be accepted at Tesla and 80% voted yes. So there is a good chance he is not going back on his word. And why would he add the Shiba or doge in the testing phase. Obviously there is a chance it might get accepted.

And if news comes out, depending when, it might cause doge to go to $1 a doge with this news. Hence why people are buying doge this week.

Bitcoin is stalling at $67800. Why? Well it doesn’t mean anything in USD but it’s 50,000 BTCGBP. If you look at Coinbase and Bitstamp it’s having a hard time cracking this number. For those that don’t remember we had the same issue when it was 50,000 BTCEUR. It was having a hard time cracking that number due to the large amount of sell orders.

Eventually it broke it on the USD chart however not on the EUR chart, so there was a huge arbitrage opportunity that took a day or so to close until the banks got their fiat deposits for more EURs. I see a similar situation developing at this area. Might take a while before it breaks, if it does most likely the GBP will be lagging.

For those that don’t know. OMG is having an airdrop on Nov 12. So as a resort people are hedging their airdrop. Basically buying on spot and shorting the futures and derivatives.

What has happened in the last week is crazy. Everyday the funding rates go lower and lower. Now the funding rates are -2% and climbing. Meaning you get paid 2% daily to go long. And there is no end in sight for the funding. Go to coinglass.com and look at the funding chart.

Now what is happening is that the market makers are not working on Bybit and the price there is currently $14 while the mark price is $16.5. Basically 20% difference. This is nuts.

So people got positions open which are over >100% loss and they are not liquidated since the mark price is higher. So what will happen is peoples losses will be larger than their account balance and the insurance fund will need to cover the difference. And the insurance fund might get emptied in the processes. And if that happens then there will be major issues.

So if you want to buy OMG only do it on spot and no margin or futures and careful using Bybit until this situation is under control, we don’t want the insurance to be depleted.

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.