Bitcoin price discussion and analysis
- Thread starter greggles
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Gone down as fast as it went up, if it keeps going below 30k curious to see if gold will go up with panicked money looking for some stability
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I'm just a buy and hold type of guy. I thought l was smart buying ETH for $12 and selling it for $18.....
Why bother trying to chase a profit, when all you have to do it buy and hold.
BTC has consistently shown better returns than almost anything out there. It's easy money.
Don't sell your sats.
Why bother trying to chase a profit, when all you have to do it buy and hold.
BTC has consistently shown better returns than almost anything out there. It's easy money.
Don't sell your sats.
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Blockstream entering the BTC storage market - Jade Hardware Wallet
$39 USD
https://blockstream.com/jade/
(I have no idea about this product - just putting it out there)
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Blockstream entering the BTC storage market - Jade Hardware Wallet
$39 USD
https://blockstream.com/jade/
(I have no idea about this product - just putting it out there)
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Here are 2 other 'off the beaten path' hardware wallets (besides Trezor and Ledger).
Coldcard - Made in Canada
Has some great features
https://coldcardwallet.com/
Keevo
https://www.keevowallet.com/
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Has some great features
https://coldcardwallet.com/
Keevo
https://www.keevowallet.com/
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Id still prefer to have my wallet on multiple usb sticks which are encrypted stored in different locations. The jade wallet in theory is a ok idea but in practice what happens if it stops working, or fire water etc In that case you would need about 3 to feel comfortable at 30usd a pop gets a bit expensive, but that is me.
I had 40-50 bitcoins once bought for 15 sold for 30 doubled my money. When it got to 100 I didn't bother because no way it could double again, so anything is possible from here. However to only double your money from here u need bitcoin to hit 80k too late for me to catch this train
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That's easy, and with your background in BTC (from what you've posted), l'm surprised you wouldn't know that all you have to do is download a BTC wallet (millions out there), put in your 12/24 (+ passphrase if using one), and your back in business. Takes literally 3 minutes.
Even with your encrypted USB sticks, they are prone to failure. So you still have your seed written down somewhere.
I'm sticking to my guns and predicting $1 million BTC by 2028. You ain't late. Thats still a 10 bagger right there.
BTC or ETH? both looked like they took a quick slide down. My ETH sold for a small 0.5% loss. My BTC is still in the game. I have made my EA's using a trailing stop which seems to be more secure since the stop is with the ticket. No sell signal needed. It's working well so far.
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Yeah but u still need to keep your private key somewhere, the public wallet bit is not a problem but private key is what you need to store offline in multiple locations to be sure to sure. I only use cold wallets. To be honest I am not sitting on big $ but when I bought ripple thinking its the next big thing I printed 1 copy of the private key and hid it, encrypted it and emailed to a few emails I have and of course on 1 or 2 usb drives, you guessed it encrypted. So a jade wallet is ok but you still need that private key
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I prefer XLM over XRP
XLM is like Ripple 5.0
Miles in front.
The Keevo hardware wallet looks interesting.
Can do fingerprint seedless recovery, trustless inheritance, etc etc etc....
I do understand you though, where do you keep a seed, that could potentially be worth big $$, safe?
XLM is like Ripple 5.0
Miles in front.
The Keevo hardware wallet looks interesting.
Can do fingerprint seedless recovery, trustless inheritance, etc etc etc....
I do understand you though, where do you keep a seed, that could potentially be worth big $$, safe?
but u gotta take profits at some point, or those runs previously done would have been fruitless
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2028
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Bitcoin price dives to $27.7K to fill giant futures gap in biggest drop since $20K
A dramatic reversal on Monday sees BTC/USD instantly fill the latest CME futures gap before bouncing off forecast levels below $28,000.
cointelegraph.com
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I don't trade Bitcoin. Obviously it was a mistake to not have done so but putting that aside and being objective, it sure looks like a blow off to me and all very reminiscent of the .com bubble.
For those who weren't around or were too young to be paying attention at the time, the basic similarities I'm seeing:
Then: Massive hype, stretching back as far as the 1980's, surrounding the year 2000 and just how great everything was going to be and what a wonderful world we were all going to be living in.
Now: Massive hype that 2021 is going to be so much better than the disaster that was 2020 now that we're done with Covid, the US election is sorted (note that I'm not commenting on the outcome, just that it's done) and so on.
Then: We had this great new thing called "the internet" that was going to change everything, heck you can even buy dog food using it.
Now: Blockchain is the new tech and it's going to change all sorts of things, heck you can even use it for money.
Then: The new concept of online trading and the heavy promotion of retail managed funds had brought many people into the markets who previously hadn't been involved at all. Funds chasing returns went all in on what they called TIME - Telecommunications Information and Media Enterprises aka anyone even remotely involved with the internet in some way.
Now: Robinhood and cryptocurrency trading have brought a flood of new traders into the markets. Funds are reportedly getting involved with crypto.
And so on. I may well be wrong but it does all feel rather familiar. Not a problem if you're actively trading but a "buy and hold" approach carries huge risk at this point in my view, especially so if leveraged.
I'm not a doomer and it's not sour grapes that I didn't invest in Bitcoin when it was cheap, I just don't like the look of the chart and the hype surrounding it at present. It sounds eerily familiar to January 2000 right now. Time will tell.
I don't trade Bitcoin. Obviously it was a mistake to not have done so but putting that aside and being objective, it sure looks like a blow off to me and all very reminiscent of the .com bubble.
For those who weren't around or were too young to be paying attention at the time, the basic similarities I'm seeing:
Then: Massive hype, stretching back as far as the 1980's, surrounding the year 2000 and just how great everything was going to be and what a wonderful world we were all going to be living in.
Now: Massive hype that 2021 is going to be so much better than the disaster that was 2020 now that we're done with Covid, the US election is sorted (note that I'm not commenting on the outcome, just that it's done) and so on.
Then: We had this great new thing called "the internet" that was going to change everything, heck you can even buy dog food using it.
Now: Blockchain is the new tech and it's going to change all sorts of things, heck you can even use it for money.
Then: The new concept of online trading and the heavy promotion of retail managed funds had brought many people into the markets who previously hadn't been involved at all. Funds chasing returns went all in on what they called TIME - Telecommunications Information and Media Enterprises aka anyone even remotely involved with the internet in some way.
Now: Robinhood and cryptocurrency trading have brought a flood of new traders into the markets. Funds are reportedly getting involved with crypto.
And so on. I may well be wrong but it does all feel rather familiar. Not a problem if you're actively trading but a "buy and hold" approach carries huge risk at this point in my view, especially so if leveraged.
I'm not a doomer and it's not sour grapes that I didn't invest in Bitcoin when it was cheap, I just don't like the look of the chart and the hype surrounding it at present. It sounds eerily familiar to January 2000 right now. Time will tell.
Other similarities are that with the dot-com bubble, you just added 'dot com' to a company/stock/etc and it would take off. Add the same with crypto and the same thing has been happening.
As I said, I'm still a believer in the use and value of BTC. But then I'm still an advocate and user of the internet and websites. Even if it is a bubble it shouldn't be an argument to get rid of BTC just that people need to readjust their risk profiles, do their due diligence, and try not to be susceptible to mass hysteria. All well and good to say, of course, but history has a tendency to repeat itself lol. (if it is a bubble I'm sure BTC will still be around in the future.)
The diminising returns and difficulty in mining is also why I prefer to trade BTC through a broker rather than mining. Right now its through CFDs because its convenient with my broker. I'd probably be doing futures if my python coding was up to scratch. I'm not a fan of buy-and-hold with BTC. I need a strategy to get out.
My exits are always atrocious. Realistically I should have sat on it as it made about $2k as a high (if my memory serves me correctly) last run.
Everything looks parabolic to me though.
Plus my attention span. I tend to lose interest after the initial pump.
What's the old saying, "know your strengths". Well mine are entries. My trading skills are crap and I'm to lazy to knuckle down now. So its wait for a run then hop off.
Once I came to the simple conclusion of "stop trading so much because you suck at it" I made some real coin.
Yep sometimes you just have to face harsh harsh reality.
are you trading a system? I'm just trading a Donchian system. Long only looking for a BO past the 10period high on a 4H chart for BTC. A trailing stoploss at 15period lowest low. And slightly different parametrics for ETH (and using it for CORN, SOY, and just started spot gold). It's hard to stick to a trading plan when you don't have one
. That may help you rein in your weakness haha.are you trading a system? I'm just trading a Donchian system. Long only looking for a BO past the 10period high on a 4H chart for BTC. A trailing stoploss at 15period lowest low. And slightly different parametrics for ETH (and using it for CORN, SOY, and just started spot gold). It's hard to stick to a trading plan when you don't have one
Not so much a system anymore, more just general guidelines. I found that systems don't always transfer to whatever "latest craze" I jump into.
I'll try and tailor guidelines round chart history. But I keep things basic these days as have too much going on.
I think I burnt myself out during dot com and the lead up to gfc. I hate the whole process now.
Honestly couldn't even look at stocks after it was all done.
I probably trade the news (on temperament) more then the charts now. I made more money just keeping my ear to the ground across social media. I will trade crashes though.
But you're right I need to plan exits better then "I want x times my money off this trade".
I suppose I could automate the whole thing.
But even as I typed the above I felt my interest levels fade off.
Fair enough mate. I wasn't trading during the GFC. Cant imagine it was good.
Have a look at the donchian system. Buy when it makes new highs, sell when its made a new low. Or short on new lows, cover on new highs. Donchian is considered the father of trend trading by some. Still widely used today. If I remember correctly, skate traded a donchian system in stocks for one of his first systems.
Im just trying to ride the wave up. I dont set profit targets for myself. When the trend ends I'm out.
Gfc was fantastic both the years before, during and straight after.
Personally I only get interested in stocks when a black Swan comes along these days.
I'm always interested in systems people are using. I usually pinch bits and pieces.
I usually set price targets if I want out to roll into something with more potential to xbag.
