Is anyone else starting to become a bit excited?

One thing to think about is the Winkelvoss brothers - they owned 1% of the BTC supply before the crash. That's enough of the trading supply to have a hugely deleterious effect to the price during a bear market.

They've recently said $15k would be a breeze once $10k was pushed though. If they sold off and were patient they're multiplying their own bags and waiting to sell off from $13.5k to $14.5k. Maybe they stay in longer if it goes parabolic but they're in the best position to take advantage.

Btw BTC dominance is now 62%. Could be wrong, but I think institutional money is currently flowing to what is more and more seen as a valid new asset by financial markets.

Addison Fancy Macrame wrote: »

They are defo one of the controlling whales but personally I think they are in it for the end game, $100k +.

I agree on that, but like johndoe said in some thread a few days ago, people here feel fixated on selling all at one price (maybe due to amount owned) whereas Winkelvii can have thousands of positions up and down across many exchanges ready to control the price because that's how rich they are from it.

The amount of actual BTC supply traded on the chain per day used to be double the trading volume amount (~2013), that reversed and took speed with alts so now actual BTC traded on blockchain is a miniscule percentage of what's seen on exchanges where volume has been confirmed true. Owning 2% of almost any coin would drop them to zero if sold, BTC is little different - that's how bad liquidity is.
Gold isn't too far off, 5-10% sell-off would crash the price.
Winkelvii are like a hidden Satoshi. People have worried a lot in the past about Satoshi owning 5% of the supply ("don't worry tho crypto-bro, he a good dude") and here we have a couple of rando Olympian rower guys who could reach that in two cycles.

I’ve one bitcoin bought for about 3400. I can afford to lose the lot. I’m just going to see where this goes.

adam88 wrote: »

Really stupid question but how are people actually realising the gains.
E.g. buy at 8 sell at 10. Profit 2000,
Then buy again at 9.8 for e.g and sell again maybe at 11, Profit 1.2 buy again at 10.5

Net profit being 700 or am I missing something here completely or are people just throwing a heap of money at this and just holding out for the price to rise and rise and rise, much the same as a house.

Yip I’m new to stocks and shares and will prob end up getting burnt completely off this lol.

If you don't know exactly what is making the market go up and down, then you are relying on blind luck

You got BTC at 3400? I'd consider that a good catch, I wouldn't be playing with it on the market. If you really have to go at it, perhaps try with a small expendable fund to play with at the beginning

grindle wrote: »

Some (maybe most since the last bullrun) trade against the USD price like that. You very likely will miss the boat on the majority iof a bullrun if 5-20% profit is your thing. I have a friend sitting in € waiting for a 50% retrace because of where he sold.

I very rarely buy anything that will make less than 50% profit vs my base currency. Some died a death. Others have given 500-1000%+ and more than made up for it. It can look much worse in fiat at times than what my friend was doing while the bottom's in. And then it surges back and it takes a week or a month to make what he scalped in a year. He wasn't sure if crypto would go to zero or not. I felt more assured that it won't. Whether that's foolish of me or not will take a while to figure out.

If you feel assured that this is a long-term thing, trade against crypto ratios or buy and hold, if you think it's a ponzi-scam-trolololol either jump in for a quick 5-10% and get burned or reap that sweet 5-10% profit and be happy with it.

Im not sure what you meant by your friends example above.
Can you let me know if I'm taking profits the right way.

I take profits from BNB and LTC when they rise between 10-20% and I put this profit into BTC.
If BTC rises by 10-20% I put this profit in USDC and wait until BNB and LTC price has dipped and then re invest this profit in BNB and LTC.

Thanks for any help on this. Taking profits is one area that I need to get right.

stockshares wrote: »

Im not sure what you meant by your friends example above.
Can you let me know if I'm taking profits right way.

I take profits from BNB and LTC when they rise between 10-20% and I put this profit into BTC.
If BTC rises by 10-20% I re invest this profit in BNB and LTC.

Thanks for any help on this. Taking profits is one area that I need to get right.

Judging from what you say it sounds like you want to day-trade (like the friend).

You can make some 5-10% gains, hit some losses but still come out good. He sold ETH ~€170. Maybe he gets to buy on a dip again. Maybe ETH doubles or triples or quadruples again. Maybe more. And that's his opportunity lost.

If you feel "sure" of a project hitting certain target, then use low-value alts to gain more of that currency. Thinking in fiat is a terrible way to gain more of the crypto you think will surge, fiat pricing and crypto pricing is all over the place on a day-to-day basis.

stockshares wrote: »

That my problem, I am thinking in Fiat. Im judging everything by what its value in euros is.

Do you mean day trade in Low value alts in order to accumulate BTC.

Yes. Most trade for BTC. I trade for ETH, but same mindset. Allows me to trade large volumes of ****coins (shoutouts to RVN, GO, BAT and LINK) for much more. ETH while ETH's price is low so on some of those trades I've made a fiat loss (tax write-off) but earned much more ETH, which in my head is going up no matter what. Maybe I'm proven retarded long term, maybe I'm not. The majority of my trades allow me to take more bets/spread my risk and as long as I stay away from utter shítcoins I'm good.

stockshares wrote: »

Btw whats your opinion on LTC. Im not sure whether to sell it for BTC or wait till closer to the Halving?

Zero opinion on LTC beyond it being a testnet for another coin I don't like, but sell a week or two before the LTC halvening at the latest. Too many eyes watching it and knowing what to expect. Maybe it has a huge bump that last week as the halvening gets shilled everywhere, but very risky at that stage.

If you don't care about ETH, XMR is the next best coin in the whole market (with the ultimate risk of capital loss because it's what everyone thought BTC was and therefore fairly rational for a dictatorship to outlaw). If you don't care for either of those you're into the realm of gambling shítcoins and that's up to you. I'm not gonna shill lesser shítcoins to you. You could miss out on opportunities if you followed my advice. Matic I thought would top out ~$30m, almost hit $90m.
Bear market had an effect on my brain too but I wasn't putting my own money in unless I got into that Binance IEO, too much risk of it crashing despite it being supremely shillable.

Do you have to pay tax on crypto profits?

grindle wrote: »

Zero opinion on LTC beyond it being a testnet for another coin I don't like, but sell a week or two before the LTC halvening at the latest. Too many eyes watching it and knowing what to expect. Maybe it has a huge bump that last week as the halvening gets shilled everywhere, but very risky at that stage.

If you don't care about ETH, XMR is the next best coin in the whole market (with the ultimate risk of capital loss because it's what everyone thought BTC was and therefore fairly rational for a dictatorship to outlaw). If you don't care for either of those you're into the realm of gambling shítcoins and that's up to you. I'm not gonna shill lesser shítcoins to you. You could miss out on opportunities if you followed my advice. Matic I thought would top out ~$30m, almost hit $90m.
Bear market had an effect on my brain too but I wasn't putting my own money in unless I got into that Binance IEO, too much risk of it crashing despite it being supremely shillable.

Thanks again, I had thought of XMR and Zcash before but I decided against them because I thought they were associated more with the Darknet, although any coin can be used on it including BTC.

Initially I thought Eth would be a great option but there are many rivals to it now with newer tech and they don't rely on proof of work. I cant see how coins that require Mining can have a future with energy a global issue.

I only got into LTC a month ago as a gamble when I heard about the halving but It looks like I got in too late.

Can you explain why a Halving which reduces supply would result in the Coins price plummeting. I had thought that with the supply becoming scarcer that price would go up.