I did the same in 2017 back when I was still trading. I came into the market thinking 2x gains are something we all dream of so naturally, being a trader used to selling at 10% gains I was surprised by Bitcoin and its 100% weekly moves.

I kept looking for a resistance line, measuring candles and so on and every time I'd sell and it would go up the next day, so I'd buy, hold for a day and sell again over and over again from 5 to 16 thousand when I finally gave up thinking it could not be real.

We'll probably have a number of corrections in this bull market, like we had in the last one. If we were to fall today back to 29000 it would be such a correction and we'd probably continue to go up from there towards 40000.

Pretty much the same question people were asking when Bitcoin went from 3000 to 5000 in 2017.

They predicted that 2x the price should trigger a huge correction and there was only a small one and the price went to 7000.

Again everybody thought this should be the end, there was a small correction and a week later price was on its way to 10000.

You never know when investors will run out of fiat money. Maybe at 40 maybe 45, maybe 50

I don't think that not buying bitcoin can be one's biggest mistake. If it was all the people in the world would be able to say that because how many of us were able to buy in 2010? In 2009 there was almost no way to buy, you had to mine it, so we all could say that our biggest mistake was not mining it in 2009

My biggest mistake was trying to trade it early on instead of buying and holding. I came here as a trader and tried many things like bounties altcoin investments, trading... The only smart thing to do was to buy bitcoin and hold it and I got to that a year after joining the forum.

Another example of someone thinking about Bitcoin in terms of 1 full BTC like it was indivisible. He buys a full bitcoin or doesn't buy at all. All or nothing, black or white

Bitcoin is not getting out of anybody's reach. 1 dollar invested in bitcoin is still 1 dollar invested in bitcoin. If you're afraid you can wait. Bitcoin always comes down no confirm the bottom and I expect it will one day come back to 20 thousand to set a bottom of a bear market. The only problem is that it may take another 2 years to get there and hit 50 thousand on the way up.

It's a matter of perspective. If he bought in 2018 for 20 thousand everybody including me would tell him that it was late, but not today. Today he'd be a winner who made over 30% profit in 2 years. 25% more that he'd make if he held money in a bank

Keep holding OP, good luck to you and may you, like me, never regret this decision.

It's difficult to clean anything once you went through KYC on coinbase. What happened is your bank account was forever associated with cryptocurrency.

Your bank, coinbase and any government agency will now know your name, address, bank account, the amount of coins you were able to buy and if you send them to another exchange they will know where those coins ended and can ask that exchange to give them the account details of the person who received them.

You can send coins to a mixer but your name will still be listed as a buyer of a certain number of bitcoins. If you want to erase as much as you can you should sell coins on coinbase, withdraw money to your bank account and ask them to close the account. Then start over somewhere else where KYC is not required.

If I were you I'd try to buy bitcoins with cash.

I could wish you all an all time high in 2021 but we already have it so I wish you all to see gains you are not expecting. For each of you this is going to be a different level as some people see 100 thousand as an enormous gain but others like Tom Lee wait for 300 thousand.

Whatever you're waiting for I hope you will be surprised this year.

Personally I wish that this forum will be here this time next year so I can wish you all the best in 2022.

Another potentially big psychological barrier is behind us.

It's funny how it's difficult to form a resistance on uncharted levels in a bull market.
When you go down from the top you see the levels that acted as resistance before and prepare to buy at these levels because they could become support for bounces. When you go up to new levels you just roll with it and this is what's going on. People will be buying until they run out of money.

We shall see but if we measure only % we'd have to go to 400 thousand dollars to repeat the 2017 gain.

This is already the highest price ever and it's likely we'll reach 50 thousand this year so price wise this year is going to be a huge eye opener for nocoiners.


Even average traders do very good in bull market and they gain confidence and think they're actually good. Then reality slaps them in the face in the accumulation phase.

Bittrex has such a bad raputation these days that it shouldn't be a big deal.

I guess it is a concern for altcoins because people are afraid of a chain reaction like when exchanges begun to delist BSV but there's not enough trading going on on Bittrex to affect Bitcoin's price.

I like privacy coins but being selfish and heavily invested into BTC, I wouldn't feel sad if people moved their money to Bitcoin.

So we're going back more or less to what we were earning when we were around 10 thousand USD, which isn't actually bad or surprising. This is what we were earning January to October 2020. It was only 2 months since the rates in USD went up so much.

All fine by me, let's keep the campaign rolling under current managent for another year

Last time I used them was before they shut down my account because I refused to do KYC.

Bittrex is one of the most corrupt exchanges. They will close your account if they want to and not allow you to withdraw your coins. They do what they want. Don't hold your coins there or you'll be sorry.

It's good that bad centralized exchanges are delisting coins. The more they remove the more clients will leave the exchanges.

Since you wrote that BTC went from 29000 to 29340 on bitstamp. Please explain how it is "barely holding 29000"

Sure, we can all keep saying that it will correct hoping that we'll get it right and eventually someone will, but that's not how predictions should be made. You don't bet on every single number on roulette just to be able to say you got 1 right

I agree with OP here. Every time BItcoin breaks an important level all the best analysts like Tom Lee come out of the woodwork.

https://u.today/fundstrats-tom-lee-expects-bitcoin-to-soar-300-percent-in-2021-as-it-hits-29000

For those who don't remember, he was the guy who in 2017 predicted bitcoin would go past 20000 and later in 2018 said the price would correct to 10000 and then go back above 20.
I'd love his predictions to come true buy he used to be more wrong than right in the past years.

And what if it keeps going up to 35000 and so on? Are you going to buy back OP?

I read many stories of how people did that in 2017. They bought at 1000 when the ATH was broken and sold at 3000 then bought back at 5000 and sold at 6000 because they thought it would be the last move. Then they bought at 8 thinking it would finally drop at 10 but it didn't.

You don't realize how many important round numbers there were in 2017 that people believe the price would stop at until you look at the charts in a small scale.

Bitcoin has a history of some great recoveries like the one from $150 all the way to $20000 and then 3000 to 30000. ETH is not doing that great in comparison.

Many people believe ETH is lagging behind and is going to explode when people move their bitcoin profits into altcoins but maybe the altcoin boom in 2018 that ICOs propelled is never going to happen again. People are becoming smarter and see that altcoins used to be like a shortcut to fiat profits. People thought they'd do better than BTC because they were cheaper and could be pumped much easier but now less and less people choose altcoins over bitcoin and ETH is holding on only because of 2.0 hype. It can meet the same fate as XRP next year when the hype dies.

Location is the most important aspect here. If you live in central Africa only 1 bitcoin is going to be a lot of money. Enough to start your own business.

In the EU it's also much different. When you live in the country you can buy a house for 50% of what it costs in the city and if you want to live in the capital it's usually another 30% added to the price.

In the EU 5BTC will give you a startup like allow you to start a business, get a flat almost in any city that you choose, allow you to run a franchise, but it won't secure you a future. No money will do that. If you're dumb and don't know how to spend money even 50BTC will only buy you a few years of lavish lifestyle.

There was a lot of speculation around Trump because he was to be the free market president, a businessman. He also had some pro bitcoin people in his staff but he ended up being a USD supporter and a president of the rich.

Hype and speculation can work wonders for bitcoin but the users have matured a lot since then and as you can see moves are less volatile now than they were 5 years ago. We've even managed to break free from the S&P influence a bit.

You're looking only at the last bull market. There's no rule saying that every next bull market has to look exactly like the one before it.

Compare 2013 and 2017. They are not the same! 2013 took us from about 150 to 1100 USD so about 7.5x and 2017 measured from the peak of the last bull market was 19x.

If this bull market was only to be 7x like 2013 we'd land at 140 thousand dollars but many people predict that it takes so much fiat money to break the 100 thousand barrier that it will take years.

Now it's above 29000 so I guess those buying at 27 weren't fools after all.

Banks were offering them negative rates or 1% a year if they were lucky and they made more by choosing bitcoin in less than a week.

If this keeps going this way we'll have 35 thousand dollar bitcoin by the end of January.