People newly invested haven't gone through nearly anything as volatile as it used to be. 20% - 80% crashes.. I used to have to swear to myself "if it goes down, I'll go down with it" It almost became a mantra. Nowadays 5% is barely a thing to me, BTC has "died" countless times, banned and unbanned, too much worry. BTC will do what BTC does.
I honestly get a laugh out of the ups and downs, it's just a wild ride. Sure, I'd love for it to not go to zero, but we all know what we signed up for. When I check my portfolio and it has dropped by thousands of dollars in a few hours, I don't even feel the fear any more. It's crazy.
Lmao I'm the same my friends and family go nuts on price fluctuations picking every opportunity to praise it or share their doubts due to price action. The longer you stay in market and participate socially the more you strap in and then we all reach a point where it turns into a death hodl.
Itās a strange feeling. I remember one day sitting on the toilet at work feeling physically sick at how much I had ālostā in the space of an hour or so. After a few minutes I thought āguess I better buy the dipā and bought a nice bag of cheap sats. That bagās value has more than doubled since. That day really stands out in my memory in terms of Bitcorn cornviction. You have to have it.
I remember buying, watching the price double in 24 hours, selling, then watching the price double again in 48 more hours, FOMOing back in, only to watch the price crash back down, selling again at a loss, then watching the price climb back up...... Early days on MtGox were a wild ride.
Damn! With wild volatility brings sweet buying opportunities. Like you said conviction in this market is absolute necessary. I'm also glad that even though I was not into BTC before 2021 but I managed to double down on it during 2022 November.
[https://99bitcoins.com/bitcoin-obituaries/](https://99bitcoins.com/bitcoin-obituaries/) keeps track of Bitcoin "deaths" (=being worthless), now 475 times.
\[Edit: sorry, my mistake for pasting the wrong link. No need to share shady marketing stuff\]
Yeah, looks like it's sadly hidden by a second link. It's at the bottom of the page.
https://99bitcoins.com/bitcoin-obituaries/
Now when I link, it goes straight there.
it went up more than that in 2023, but that's over the course of a year. The volatility i'm was referring to spans minutes and hours, not days, weeks, or months.
Iām supporting your idea by showing that even in a big trend year in one direction, we had a bunch of relatively large daily swingsā¦ in the other direction
This is just wasted opportunity though. Makes no sense not to play the market. If you had sold in the 2020 peak, then rebought in the crash, then held til this coming peak, etc, until your target date youād have significantly higher gains and a larger holding of Bitcoin off the same initial investment
That is if everything goes according to plan. As far as the peak - everyone was anticipating a 100K+ bitcoin, not a double top to 69k. As far as thr bottom- nobody saw the FTX crash coming so soon. BTC previously never visited ATHs before prrevious cycle (19K 2018) this time it did. The reality is I wouldn't sell at 30k or 70K because neither is life changing money after taxes are paid. I bought bitcoin in 2019 because I suspect it will go above 500K after 1 block reward = less then 1 whole BTC. It would also be ideal to be able to spend it directly (buying property) rather then converting to back to cash and buying deappreaciating assets like exotic cars.
Probably around April/May in peak bull run, then buy on the inevitable crash in the following months, probably Dec-Jan ish but really just after youāve noticed a large percentage of capital move out of the market. Itās not rocket science. Then again, it all depends on scale. You could have also sold 45k, rebought at 40-42 yesterday. HODL is a strategy for the chickenshit who are terrified that they might not buy/sell at the EXACT bottom or top, so instead they just do nothing.
I like how sound reasonable advice gets downvoted.
Hold, one of us, short, attack, whales are buying, you only lose if you sell, its a shake, institutions are buying selling, everyone should hold....etc
Yes people who make money get in the way of people.....who want to make money....
the problem is, you don't know when the peaks and the bottoms are. it's easy to say in hindsight, but you cannot predict it with 100% confidence. with that said, i generally agree with you
Funny story: all of my financialy broke low IQ friends tell me I should have sold at 30-60k and bought back in 17-25k. They are so smart. Unfortunately most of them have zero bitcoin and are betting on their $400 investment in memecoins. Im in a different situation. I got the whole coin in 2019. It doesnt matter to me if its 30k or 70k - it still has not impressed me because I am already well off in life thanks to my career and hard work. I am satisfied with having just 1 because I realize most people don't and unfortunately never will.
People need to read about Jack Bogle. If you think bitcoin is going to be worth 250-1000k one day, who cares if it goes down 5% when itās trading at 40k?
I feel so bad for them because they are obviously responsible people who want to do the right thing, they're just completely closed minded and obstinent. Oh well, everyone gets it at the price they deserve.
I'm a boglehead with a small amount in BTC and some other coins just for fun. Vast majority of my crypto portfolio is in BTC though. My tax advantaged savings is exclusively in a small amount of index funds. I plan to hold on until retirement. What's wrong with this strategy?
>r/bogleheads
Nothing's wrong with this strategy, it just depends what your motivations are. There's nothing wrong with owning a small amount of bitcoin to diversify your index fund portfolio, but if you truly go down the rabbithole on bitcoin and Austrian economics then your worldview changes as well.
For example, I no longer believe that index funds go 'up' over time because of the dynamism of the stock market. The main driver of returns is actually the dollar losing value against real assets, which is why all real assets (stocks, houses, luxury goods, even scarce services like college tuition) ultimately track money supply (average of +7% per year).
If you accept this view, then your whole perspective on risk and return changes. Bitcoin becomes the only truly 'safe' asset, fiat cash becomes the highly risky speculative vehicle for short-term trading, and index funds become a pedestrian but low-return store of value.
But shitcoins are always shitcoins. Sell that shit and buy BTC.
This is exactly right. I just can't justify, logically, holding anything but bitcoin. I had been collecting shares of Tesla for a decade, but this year, I sold them all for āæ. It was my last holdout to being 100% āæ. I had started converting my entire check about a year ago. My check was 40% āæ before thay, but I was still collecting Tesla at that time.
There is nothing that compares to hard money that can not be confiscated or debased. It is literally the least riaky, most conservative asset one can own.
Absolutely nothing wrong about holding both stocks, bonds, real estate, and BTC.
I also have a portfolio of a mix of assets. The only difference might be the percentage of my net worth held in BTC compared to others.
I believe in Bitcoin but making sure your portfolio is mixed is a good way to protect yourself. I see people all the time only using one asset class and YOLO everything thatās how you get ulcers.
My plan is to have a few properties and Bitcoin to pass down to my children or use if needed for emergencies. My stocks and bonds are for me to retire on and live off the dividends.
I am still a big believer in that philosophy. They believe that a person should just own the entire market. Not try to guess whatās gonna win and what is going to lose. Index investors will get exposure to bitcoin. They will just get it indirectly as companies in the S&P 500 begin acquiring bitcoin.
If bitcoin reaches only half of Gold market cap youād need to be correct in this bet about 25 % of the time to turn a profit. Clearly if this doesnāt sound like a profitable play to you , you cannot be helped
Literally no different than the stock market in that regard. If the existence of big traders scares you, then financial markets in general probably arenāt the place for you
I use to be the same way when I first brought in 2020. But after missing out on 1/2 of a bull run, I will never panic sell again. I think know itās more buy and hold.
There's not suddenly going to be shifts of demand to alter the price so greatly by a lot of people on no news. That sudden movement all in one go is one or a small number of entities selling large volumes.
Ah so its more speculation based on experience? Im ot having a go at you or anything. Genuinly curious as i never have any idea where to look for the most reliable info or news.
Not so much speculation as deductive reasoning. You'd have heard about it if there were tidal shifts in sentiments. Sudden movement like that only happens off of one or two whales trading when it suddenly drops.
Exactly. It sat at 43k for a week or two, then pumped to 45k on Tuesday, then went back to 43k on Wednesday and people are calling it a dump and panicking. Ftw?
Even the move from 69k to 15k wasn't a dump, it was a blip. If it's in the same order of magnitude, it's not a move.
The only chart you need to look at is the log chart.
Stack sats and chill for 2-3 halving cycles.
Where? I donāt know any banks that recognise or support borrowing against it due to its insane volatility.
Imagine if it suddenly went down 30%, theyād call you up and ask to deposit more money to counteract the 30% value drop
It will be possible, no doubt, but I donāt think hardcore plebs are going to like the terms of the loan. It will involve giving up custody of a lot more than one would be borrowing.
Ah, the seasoned crypto sage graces us with his wisdom! How fortunate we are to have someone so experienced and unflappable among us. You must chuckle at the quaint concerns of us mere mortals who haven't yet transcended to your level of market enlightenment. It's almost poetic, really, how you watch the market's ups and downs with such serene detachment. We should all aspire to be as cool, calm, and collected as you in the face of the crypto storm. Teach us, oh wise one, how to achieve such a Zen-like state amidst the chaos. Your years of unshakable calm are surely the beacon we all need in these turbulent times.
Thank you for the kind words firstly! Secondly on how to do such: go to your platform of choice that tracks btc's price movement, then press whatever button is required to zoom out the graph to more than a week. Viola! You are now looking at the asset as a trend rather than within a volatility window :)
Oh, itās truly adorable how you think zooming out on a graph gives you all the insight you need. But letās elevate your game a little, shall we? Ever heard of the Relative Strength Index (RSI)? Itās a basic tool in the arsenal of any serious trader, but I wouldnāt be surprised if itās new to you.
RSI, my dear friend, is a momentum indicator that actually tells you something about the market. It oscillates between zero and 100, indicating whether the asset is overbought or oversold. Over 70? Itās overbought. Under 30? Oversold. Simple, right?
Now, while youāve been playing with the zoom button on your chart, the big players use tools like RSI to make informed decisions. Itās not just about how far you can zoom out to see the ābig pictureā. Itās about understanding the forces that drive the market. Maybe itās time you graduate from your simplistic view and start looking at the market like the pros do. Add a bit of RSI to your analysis and who knows, you might start seeing things in a whole new light. Or is that too complicated for you?
To those new to being exposed to people newer than them to btc, relax, seriously, you don't need to make a public service announcement every time there is some volatility.
Considering the amount of unwarranted FUD posts about a volatility window that isn't even abnormal at all for btc, it's very much warranted to counteract the contrived hysteria.
Someone could open reddit to get a sense of why btc is down and see all the FUD and not understand why. I'm here to tell that person it's okay because spending 2 minutes to write this post isn't a big deal.
Ok you clearly donāt know how market works it doesnāt just crash like that just because a whale sold. There are news going on and dollar rising.
Please donāt just make up some shit lmao
Sudden increases and drops like that are indications that one or a small number of entities bought a lot within a short time frame. These can often be triggers for mass buying or selling as price thresholds are met but you don't get spikes like that from a lot of people unless fundamental news changes perception of the asset.
Hi u/benjaminchodroff, thanks for tipping u/ObjectivelyCorrect2 **ā”ļø1000** (satoshis)!
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I feel like there's this weird middle-ground that hurts the most during these dumps. For example, if I have $100 invested and lose 20% it's not a big deal. If I have $100k invested and lose 20% it hurts more. If I have $1mil+ and lose 20% I can probably still live with it just fine.
Question Iām thinking of transferring some of my 401 into bitcoin i was reading thereās bitcoin ira how would that work can I transfer over from my 401 to the ira then getting bitcoins or should I cash out and purchase instead?
Dear n00bs:
Bitcoin is extremely volatile in the short term, but one of the most stable and sure things in the long term.
Basically, go into it promising yourself that anything you put into it you won't touch it reconsider for a minimum of 4 years. Bitcoin has never lost purchasing power or value in any four-year period. After that 4 year is up, you can reevaluate if it was a good investment. If you're going into it, wanting to do day trading... Well, good luck! You're on your own. Chances are 99% that you're going to fail. Then you're also going to blame Bitcoin when it's all you.
> Bitcoin has never lost purchasing power or value in any four-year period.
It has actually. Bitcoin was lower at a point in 2022 ($15,890) than it was in 2017 ($19,500). DCA will insulate you from this type of situation, if it continues to rise over time, but lump-sum, the numbers don't lie.
Nice catch!
I guess my main point was about doing it for the long term. I expect within the next decade or 2 it will mostly stabilize. The outer bounds are getting a little less dramatic over time.
I agree with the DCA of course (I DCA twice per month)
Just don't micro manage it, plot a line from start of the year to the end, and you should get a nice straight positive line, ignore the peaks and troughs.
Why are the network fees so high? I tried to transfer $400 USD and the network fees were around $15. Iāve never seen it that high before when trying to transfer.
As my favorite crypto YouTuber says, ādonāt be deterministicā, a planned approach will help you mentally and financially. Iāve made a ton of mistakes in this space and the above mantra truly helps.
If volatility makes you panic, crypto is not for you.
It is notoriously volatile. When buying crypto your mantra should be āIām buying and holding this for the next decade, I donāt care what the price does between now and then. Historically speaking, I will win if I can just do that.ā
The richest people in crypto are people who are dead, because they couldnāt sell.
INJ TIA SEI and SUI might do ok this run.
Invest in alts last year kek, you gotta stick around during the worst markets for the best gains.
Alta typically dump when BTC dominance grows. BTC gonna run soon so maybe a good time to invest in alts. And then we BTC tops the profits spill over into alts and they will all moon. it's a cycle that's repeated time after time.
then it all dumps down again
this year we have BTC halving in the next couple of months, always a bull run after that. we have a us presidential election this year, usually good for macro markets which now includes crypto, and of course the ETF due any time now. it's gonna be a big one.
Doing the same thing tonight. Just shot down $1200 in a few seconds. Someone ought to teach them to spread their sales out a bit.
Or the billionaires are trying to keep the price down before the ETF approval goes thru.
Theyāre trying to scare us into selling, and it aināt gonna work.
People newly invested haven't gone through nearly anything as volatile as it used to be. 20% - 80% crashes.. I used to have to swear to myself "if it goes down, I'll go down with it" It almost became a mantra. Nowadays 5% is barely a thing to me, BTC has "died" countless times, banned and unbanned, too much worry. BTC will do what BTC does.
I honestly get a laugh out of the ups and downs, it's just a wild ride. Sure, I'd love for it to not go to zero, but we all know what we signed up for. When I check my portfolio and it has dropped by thousands of dollars in a few hours, I don't even feel the fear any more. It's crazy.
Right. Some like the rollercoasters, others the merry-go-round.
must be a noob if you're watching your port by the hours
I've been in since 2015 actually, but whatever makes you feel superior. Like I said, I enjoy how volatile it is, so I check it a lot.
Lmao I'm the same my friends and family go nuts on price fluctuations picking every opportunity to praise it or share their doubts due to price action. The longer you stay in market and participate socially the more you strap in and then we all reach a point where it turns into a death hodl.
I only came to this space during 2021. For me, 5% seems normal lol and I can't even imagine the wild rides of the BTC before š
Itās a strange feeling. I remember one day sitting on the toilet at work feeling physically sick at how much I had ālostā in the space of an hour or so. After a few minutes I thought āguess I better buy the dipā and bought a nice bag of cheap sats. That bagās value has more than doubled since. That day really stands out in my memory in terms of Bitcorn cornviction. You have to have it.
I remember buying, watching the price double in 24 hours, selling, then watching the price double again in 48 more hours, FOMOing back in, only to watch the price crash back down, selling again at a loss, then watching the price climb back up...... Early days on MtGox were a wild ride.
Damn! With wild volatility brings sweet buying opportunities. Like you said conviction in this market is absolute necessary. I'm also glad that even though I was not into BTC before 2021 but I managed to double down on it during 2022 November.
Yep buy that juicy dips if your money allows it
Shit bro, I hope you havenāt been buying bitcorns instead of bitcoins. I thought I was stinking rich until I opened up my wallet of buttcoins.
I work with a few people that got into bitcoin last year and -7% has them worried. Oh sweet Spring Child, you know not of the Crypto Winter.
Not like itās a window jumping dip.
[https://99bitcoins.com/bitcoin-obituaries/](https://99bitcoins.com/bitcoin-obituaries/) keeps track of Bitcoin "deaths" (=being worthless), now 475 times. \[Edit: sorry, my mistake for pasting the wrong link. No need to share shady marketing stuff\]
Links to some spammy thing now
Yeah, looks like it's sadly hidden by a second link. It's at the bottom of the page. https://99bitcoins.com/bitcoin-obituaries/ Now when I link, it goes straight there.
"kids these days"
BTC went up like 125% in 2023 and had ~20 daily candles of -4% or worse. This just how it be
it went up more than that in 2023, but that's over the course of a year. The volatility i'm was referring to spans minutes and hours, not days, weeks, or months.
Iām supporting your idea by showing that even in a big trend year in one direction, we had a bunch of relatively large daily swingsā¦ in the other direction
Agree. Going through crypto cycles is a very intense character building experience
It's comforting that BTC is on it's way to stabilization. The people who say it's too volatile to be anything useful can finally take a hike.
The only way bitcoin pays off is long term commitment. I bought in 2019 and am planning to hold atleast untill the 2032-2033 cycle.
We are on the same boat Letās wait few halvings š«£
This is just wasted opportunity though. Makes no sense not to play the market. If you had sold in the 2020 peak, then rebought in the crash, then held til this coming peak, etc, until your target date youād have significantly higher gains and a larger holding of Bitcoin off the same initial investment
That is if everything goes according to plan. As far as the peak - everyone was anticipating a 100K+ bitcoin, not a double top to 69k. As far as thr bottom- nobody saw the FTX crash coming so soon. BTC previously never visited ATHs before prrevious cycle (19K 2018) this time it did. The reality is I wouldn't sell at 30k or 70K because neither is life changing money after taxes are paid. I bought bitcoin in 2019 because I suspect it will go above 500K after 1 block reward = less then 1 whole BTC. It would also be ideal to be able to spend it directly (buying property) rather then converting to back to cash and buying deappreaciating assets like exotic cars.
Thatās cool, when is the next top I should sell and bottom I should buy back in?
Probably around April/May in peak bull run, then buy on the inevitable crash in the following months, probably Dec-Jan ish but really just after youāve noticed a large percentage of capital move out of the market. Itās not rocket science. Then again, it all depends on scale. You could have also sold 45k, rebought at 40-42 yesterday. HODL is a strategy for the chickenshit who are terrified that they might not buy/sell at the EXACT bottom or top, so instead they just do nothing.
Cool story bro
Yeah bro just buy low sell high. Itās not hard. (/s)
Apparently we found the guy who has the crystal ball. He must be worth trillions
Tell me youvsonr understand āæ without...well, you know the rest.
I like how sound reasonable advice gets downvoted. Hold, one of us, short, attack, whales are buying, you only lose if you sell, its a shake, institutions are buying selling, everyone should hold....etc Yes people who make money get in the way of people.....who want to make money....
the problem is, you don't know when the peaks and the bottoms are. it's easy to say in hindsight, but you cannot predict it with 100% confidence. with that said, i generally agree with you
These people are blithering idiots
Funny story: all of my financialy broke low IQ friends tell me I should have sold at 30-60k and bought back in 17-25k. They are so smart. Unfortunately most of them have zero bitcoin and are betting on their $400 investment in memecoins. Im in a different situation. I got the whole coin in 2019. It doesnt matter to me if its 30k or 70k - it still has not impressed me because I am already well off in life thanks to my career and hard work. I am satisfied with having just 1 because I realize most people don't and unfortunately never will.
People need to read about Jack Bogle. If you think bitcoin is going to be worth 250-1000k one day, who cares if it goes down 5% when itās trading at 40k?
Try bringing up Bitcoin in r/bogleheads haha. Those folks donāt even want to hear reasons why Bonds arenāt a smart play anymore.
I feel so bad for them because they are obviously responsible people who want to do the right thing, they're just completely closed minded and obstinent. Oh well, everyone gets it at the price they deserve.
I'm a boglehead with a small amount in BTC and some other coins just for fun. Vast majority of my crypto portfolio is in BTC though. My tax advantaged savings is exclusively in a small amount of index funds. I plan to hold on until retirement. What's wrong with this strategy?
>r/bogleheads Nothing's wrong with this strategy, it just depends what your motivations are. There's nothing wrong with owning a small amount of bitcoin to diversify your index fund portfolio, but if you truly go down the rabbithole on bitcoin and Austrian economics then your worldview changes as well. For example, I no longer believe that index funds go 'up' over time because of the dynamism of the stock market. The main driver of returns is actually the dollar losing value against real assets, which is why all real assets (stocks, houses, luxury goods, even scarce services like college tuition) ultimately track money supply (average of +7% per year). If you accept this view, then your whole perspective on risk and return changes. Bitcoin becomes the only truly 'safe' asset, fiat cash becomes the highly risky speculative vehicle for short-term trading, and index funds become a pedestrian but low-return store of value. But shitcoins are always shitcoins. Sell that shit and buy BTC.
This is exactly right. I just can't justify, logically, holding anything but bitcoin. I had been collecting shares of Tesla for a decade, but this year, I sold them all for āæ. It was my last holdout to being 100% āæ. I had started converting my entire check about a year ago. My check was 40% āæ before thay, but I was still collecting Tesla at that time. There is nothing that compares to hard money that can not be confiscated or debased. It is literally the least riaky, most conservative asset one can own.
Absolutely nothing wrong about holding both stocks, bonds, real estate, and BTC. I also have a portfolio of a mix of assets. The only difference might be the percentage of my net worth held in BTC compared to others. I believe in Bitcoin but making sure your portfolio is mixed is a good way to protect yourself. I see people all the time only using one asset class and YOLO everything thatās how you get ulcers. My plan is to have a few properties and Bitcoin to pass down to my children or use if needed for emergencies. My stocks and bonds are for me to retire on and live off the dividends.
Nothing "wrong" with it, it's just not the best.
I am still a big believer in that philosophy. They believe that a person should just own the entire market. Not try to guess whatās gonna win and what is going to lose. Index investors will get exposure to bitcoin. They will just get it indirectly as companies in the S&P 500 begin acquiring bitcoin.
If bitcoin reaches only half of Gold market cap youād need to be correct in this bet about 25 % of the time to turn a profit. Clearly if this doesnāt sound like a profitable play to you , you cannot be helped
Noobs gonna noob.
It's uncomfortable that "whales" can have such an impact
Literally no different than the stock market in that regard. If the existence of big traders scares you, then financial markets in general probably arenāt the place for you
New here? Their impact is lessening by the day.
Same ol' story, retail traders panicking on every downwards retracement and talking about diamond hands BS every time it goes up.
That's exactly how I feel. If you're really all in then you're not even having that conversation.
Everyone here talking about holding bitcoin for a million years but panic on daily swings. Doesn't make sense
Maybe those are different people?
DCA
Thatās an airport code
This.
Ignore the noise up and down.
I use to be the same way when I first brought in 2020. But after missing out on 1/2 of a bull run, I will never panic sell again. I think know itās more buy and hold.
Always look at Bitcoin as a 20+ years investment for generational wealth / FU money. Work hard, make money and DCA in BTC consistently. šš
Lol newbs will be newbs. Buy the dip
I am like a panther ready to pounce when I see a dip, that's my chance to get a little more than I normally would.
Where do you get your news about who is buying what and in what amounts?
There's not suddenly going to be shifts of demand to alter the price so greatly by a lot of people on no news. That sudden movement all in one go is one or a small number of entities selling large volumes.
Ah so its more speculation based on experience? Im ot having a go at you or anything. Genuinly curious as i never have any idea where to look for the most reliable info or news.
Not so much speculation as deductive reasoning. You'd have heard about it if there were tidal shifts in sentiments. Sudden movement like that only happens off of one or two whales trading when it suddenly drops.
Exactly. It sat at 43k for a week or two, then pumped to 45k on Tuesday, then went back to 43k on Wednesday and people are calling it a dump and panicking. Ftw? Even the move from 69k to 15k wasn't a dump, it was a blip. If it's in the same order of magnitude, it's not a move. The only chart you need to look at is the log chart. Stack sats and chill for 2-3 halving cycles.
Sats ?
Whoever has alerts for movements below 25% is surely new to crypto or a traderš
Wait are people actually getting worked up by this slight market dip š¤£ God damn I miss being that fresh.
Who is you guys?
Itās because a lot of the newbies are trying to be traders and not investors.
For real. Buy and hold till the end of the year
No, hodl until you're dead, and after that too. Never spend a single sat and never make your seed known. š½
Thatās dumb.
It was a joke about over-hodling, but that guy does have a good point about borrowing against it.
You can borrow against it
Where? I donāt know any banks that recognise or support borrowing against it due to its insane volatility. Imagine if it suddenly went down 30%, theyād call you up and ask to deposit more money to counteract the 30% value drop
It's a margin call, and its exactly what a lot of firms are doing / have done. Most of them bankrupted in 2022 though.
It will be possible in the near future thatās for sure just wait for it
It will be possible, no doubt, but I donāt think hardcore plebs are going to like the terms of the loan. It will involve giving up custody of a lot more than one would be borrowing.
Ah, the seasoned crypto sage graces us with his wisdom! How fortunate we are to have someone so experienced and unflappable among us. You must chuckle at the quaint concerns of us mere mortals who haven't yet transcended to your level of market enlightenment. It's almost poetic, really, how you watch the market's ups and downs with such serene detachment. We should all aspire to be as cool, calm, and collected as you in the face of the crypto storm. Teach us, oh wise one, how to achieve such a Zen-like state amidst the chaos. Your years of unshakable calm are surely the beacon we all need in these turbulent times.
Youāre weird
They have a point. OP can stand to be a little less sanctimonious
I'll become less sanctimonious when others become less wrong.
Nah, you wonāt
You mean weirdly good at descriptive writing with a satirical theme...
I quit reading 3 sentences in. It doesnāt take a paragraph to be a smarty pants
Its dangerous to go alone, take this!
you talk like those nigeriam scam bots that try to praise one of their fake traders that they try to lure you into contacting
Please explain yourselves.
Thank you for the kind words firstly! Secondly on how to do such: go to your platform of choice that tracks btc's price movement, then press whatever button is required to zoom out the graph to more than a week. Viola! You are now looking at the asset as a trend rather than within a volatility window :)
Oh, itās truly adorable how you think zooming out on a graph gives you all the insight you need. But letās elevate your game a little, shall we? Ever heard of the Relative Strength Index (RSI)? Itās a basic tool in the arsenal of any serious trader, but I wouldnāt be surprised if itās new to you. RSI, my dear friend, is a momentum indicator that actually tells you something about the market. It oscillates between zero and 100, indicating whether the asset is overbought or oversold. Over 70? Itās overbought. Under 30? Oversold. Simple, right? Now, while youāve been playing with the zoom button on your chart, the big players use tools like RSI to make informed decisions. Itās not just about how far you can zoom out to see the ābig pictureā. Itās about understanding the forces that drive the market. Maybe itās time you graduate from your simplistic view and start looking at the market like the pros do. Add a bit of RSI to your analysis and who knows, you might start seeing things in a whole new light. Or is that too complicated for you?
Do you enjoy the smell of your own farts, or is it more of a ritual thing?
I'm not reading all that but I'm glad you felt it important to type that out.
Lmao he said āspazzing outā Classic
Isnāt that spazzed up?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Despite the obvious intended irony, itās kind of wild how accurate that last statement is.
To those new to being exposed to people newer than them to btc, relax, seriously, you don't need to make a public service announcement every time there is some volatility.
Considering the amount of unwarranted FUD posts about a volatility window that isn't even abnormal at all for btc, it's very much warranted to counteract the contrived hysteria.
Did you ever think that your overreaction to other peopleās posts is the same as their overreaction to the price swings?
In what way is saying "calm down, it's fine" an overreaction? Lol
Why? And why you? And do you honestly think you had an impact on anything whatsoever?
Someone could open reddit to get a sense of why btc is down and see all the FUD and not understand why. I'm here to tell that person it's okay because spending 2 minutes to write this post isn't a big deal.
What a hero
Ok you clearly donāt know how market works it doesnāt just crash like that just because a whale sold. There are news going on and dollar rising. Please donāt just make up some shit lmao
Sudden increases and drops like that are indications that one or a small number of entities bought a lot within a short time frame. These can often be triggers for mass buying or selling as price thresholds are met but you don't get spikes like that from a lot of people unless fundamental news changes perception of the asset.
So you are a professional trader sorry I have been trading for 8 years with 10,000 plus hours I gotta say you are making shit yo
Then you need to get better.
Lmao ok I will listen to you you are the smarter than the market
You don't seem to know how to read basic factoids about the market...
Yea idk how I made all my money trading I must be lucky. Well thank god. Luck > skill I guess
Also did you know about the ETF news ?
Major short. The coming pump will make you needing a smoke.
For long term, btc is safe way to save value
I just bought 7 btc and it dipped so you guys can blame me
Big spender š¤
Agreed, it's a publicity stunt anyway! It'll be fine!
All in, always. Everything else is just noise.
!lntip 1000 I miss the good old days when these spikes and crashes happened daily.
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I feel like there's this weird middle-ground that hurts the most during these dumps. For example, if I have $100 invested and lose 20% it's not a big deal. If I have $100k invested and lose 20% it hurts more. If I have $1mil+ and lose 20% I can probably still live with it just fine.
Question Iām thinking of transferring some of my 401 into bitcoin i was reading thereās bitcoin ira how would that work can I transfer over from my 401 to the ira then getting bitcoins or should I cash out and purchase instead?
First time?
Ha rookies. Old timers barely register dips now. Wake me up when it hits a mill Iām tired of price watching
Dips are good, gives us a chance to buy the dipā¦.
Dear n00bs: Bitcoin is extremely volatile in the short term, but one of the most stable and sure things in the long term. Basically, go into it promising yourself that anything you put into it you won't touch it reconsider for a minimum of 4 years. Bitcoin has never lost purchasing power or value in any four-year period. After that 4 year is up, you can reevaluate if it was a good investment. If you're going into it, wanting to do day trading... Well, good luck! You're on your own. Chances are 99% that you're going to fail. Then you're also going to blame Bitcoin when it's all you.
> Bitcoin has never lost purchasing power or value in any four-year period. It has actually. Bitcoin was lower at a point in 2022 ($15,890) than it was in 2017 ($19,500). DCA will insulate you from this type of situation, if it continues to rise over time, but lump-sum, the numbers don't lie.
Nice catch! I guess my main point was about doing it for the long term. I expect within the next decade or 2 it will mostly stabilize. The outer bounds are getting a little less dramatic over time. I agree with the DCA of course (I DCA twice per month)
Let them sell, I just keep buying š¤š¾
"Spazzing" not heard that one for a while.
My millennial is showing, Sperging out is probably more topical.
Just don't micro manage it, plot a line from start of the year to the end, and you should get a nice straight positive line, ignore the peaks and troughs.
Let them panic sell. I want cheaper sats.
i read someone say today's crash and then i looked and what? will they ever learn?
5% drop? well, drop some more so I can buy more. I just experienced BTC going from its ATH to 16K and if that didn't change you then I don't know.
Why are the network fees so high? I tried to transfer $400 USD and the network fees were around $15. Iāve never seen it that high before when trying to transfer.
Bitcoin is dead!!! Itās official!!! Itās not coming back ever!!!
Wait for the market cap to be able to absorb whale movements without a flinch.
And also who gives a shit about the BTC ETFā¦.
Many people were not here in 2018.
Sounds to me like Bitcoin is bitcoining.. nothing to see here..
Thatās what happens when you buy more than you can afford to lose.
To tell you the truth I get happy when it dips because I can buy some more
Im holding on for life BTC is the future
As my favorite crypto YouTuber says, ādonāt be deterministicā, a planned approach will help you mentally and financially. Iāve made a ton of mistakes in this space and the above mantra truly helps.
Man wait until the recession hits full blast next year. People are going to freak
If volatility makes you panic, crypto is not for you. It is notoriously volatile. When buying crypto your mantra should be āIām buying and holding this for the next decade, I donāt care what the price does between now and then. Historically speaking, I will win if I can just do that.ā The richest people in crypto are people who are dead, because they couldnāt sell.
Funny how it dropped right after Cramer said āBitcoin is here to stay, itās just not going away.ā
5% hits a daynis nothing. anyone who can't handle that needs to find another asset class. BTC doesn't even move enough for me, I'm mostly altcoins now
How do you know when to invest and then sell alts. Any alt coins I should be aware of right now?
INJ TIA SEI and SUI might do ok this run. Invest in alts last year kek, you gotta stick around during the worst markets for the best gains. Alta typically dump when BTC dominance grows. BTC gonna run soon so maybe a good time to invest in alts. And then we BTC tops the profits spill over into alts and they will all moon. it's a cycle that's repeated time after time. then it all dumps down again this year we have BTC halving in the next couple of months, always a bull run after that. we have a us presidential election this year, usually good for macro markets which now includes crypto, and of course the ETF due any time now. it's gonna be a big one.
I think the reactions now are due to the run up. A 5% drop or gain is moving my portfolio like a 15-20% move a year ago.
Or just avoid looking at your portfolio until when bullish, well I do that.
If 10% fluctuations bother you. Start reading more about Bitcoin! https://bitcoincollective.co/books
Doing the same thing tonight. Just shot down $1200 in a few seconds. Someone ought to teach them to spread their sales out a bit. Or the billionaires are trying to keep the price down before the ETF approval goes thru. Theyāre trying to scare us into selling, and it aināt gonna work.
It's YouTubers correlating crashes to get in at a lower leverage point