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Is anyone else starting to become a bit excited?

q85dw7osi4lebg

As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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JJJJNR

I've sTePped AWay FrOm the PaNiC BuTTon.

Dohnjoe

maninasia wrote: »

The previous history of bitcoin cycles suggests it will reach five to ten times it's previous ath. So a conservative number for next ath is 100k bitcoin. That is a conservative number if you follow it's history, really.

Would love to think so but we would really be reaching serious limits there. 100k BTC is 1.7 trillion cap. That's bigger than Apple.

maninasia

Dohnjoe wrote: »

Would love to think so but we would really be reaching serious limits there. 100k BTC is 1.7 trillion cap. That's bigger than Apple.

Yep but Bitcoin is more like something like Gold. It's a currency.

Grumpypants

100k isn't impossible but I've 70k in mind for this next tipping point.

q85dw7osi4lebg

First sell order at 90k for me.

If we retreat 90% before getting there, so be it. Will continue accumulating at a slower rate.

jimmii

There was a poll recently where 100k seemed to the magic number for a lot of people. I find it hard to imagine a lot of long time holders won't start selling off much earlier than that though. Hopefully we'll get the chance to find out!

Grumpypants

We are well used to 10% drops or rises now, sometimes in a single candle. When it is 900 Euro dips it is still panicky.

If we are at 100k and it drops 10k in one 15min candle it will be very difficult not to panic sell.

Arrival

Grumpypants wrote: »

We are well used to 10% drops or rises now, sometimes in a single candle. When it is 900 Euro dips it is still panicky.

If we are at 100k and it drops 10k in one 15min candle it will be very difficult not to panic sell.

That's what I was thinking, people who have a couple or more Bitcoin alone, not even including alts, will see their portfolios bouncing up and down thousands, possibly even 10k, every few hours or even minutes. It will actually be a ridiculous thing to try and observe rationally. Checking it during the day at work will be seriously distracting anyway when you start daydreaming about the possibility of just selling it. This is why it's best to take the time to genuinely think of an exit strategy now, while it's still calm, and adjust it accordingly whenever the time approaches. But to be honest, because of the 33% CGT I won't be considering selling for a long time because I'd like to relocate elsewhere to avoid that, unless they reduce it to 10-12.5% which would be perfect

q85dw7osi4lebg

Agreed re exit strategy.

Do one up now and stick to it regardless.

I'll never fully exit however.

Dohnjoe

BTC scraped 20k after a 3 year bear, with world headlines (1k, 10k, 15k), and a ridiculous amount of FOMO (now it hits 10k USD and barely a mention). There are so many burnt and bitter people, a huge amount of 10k+ bags. I think 15k to 20k is possible within the next 2 years but would be very surprised to top 20k by any decent margin.

Likewise, if Eth were ever to approach 1k again, there would be serious bag dumping. Anecdotally, quite a few I know who (despite best efforts to stop them) bought at 700 to 1000 with money they couldn't afford to lose will be dumping it as soon as it reaches those figures, I would suspect there are many out there in similar situations.

Bob24

Arrival wrote: »

But to be honest, because of the 33% CGT I won't be considering selling for a long time because I'd like to relocate elsewhere to avoid that, unless they reduce it to 10-12.5% which would be perfect

Yes - both the rate and the way CGT gets triggered for individual investors is a serious issue in this country particularly for assets which are suitable for regular buying and selling such as crypto and stocks (It feels like our CGT rules are only suitable for assets you tend to hold for very long term such as property).

I wouldn’t mind the rate if there was a way to only trigger the tax when you actually take cash out of your trading activity. For exemple I know in France individuals can open a special trading account which consists of a restricted cash account and a stocks/funds holding account. And as long as no money comes out of this fiscal wrapper you can transact all you want between the assets offered by your broker and cash in the restricted account without triggering a taxable event. I.e. if you sell stocks and make a profit but leave that money on the restricted cash account whereby it can be used for future stocks purchases but can’t be spent in any other way, you don’t pay any tax). It is only when you withdraw cash from that special account to your regular current account that you trigger CGT (and at a reduced rate if you have held your investment account for more than 8 year). If we had something like this and if it could include crypto, our high CGT rate would be much easier to accept and wouldn’t prevent people from regularly selling and buying as you describe.

makeorbrake

BTC ****ting the bed...flash crashing at $9917...

grindle

Would love things to shít the bed a LOT more, had my sights set on €100 ETH but it never transpired. That's a 60% drop now, seems so far away.

Lex Luthor

makeorbrake wrote: »

BTC ****ting the bed...flash crashing at $9917...

these happen every now & again...am expecting more and more as it inches upwards

you cant have 10-12 green candle days without a dump every now & again

I'd say it flushed out a few longs already today...

Grumpypants

I had sold half an ETH at 140 so had 70 Euro sitting in the account for weeks. Take a wild guess when I bought some ETH

JJJJNR

#Slt mooning

FFVII

You're all assuming it'll behave the same at 100,00 if it ever got there.

Lex Luthor

Are we on the way down to fill the CME gap at around $8500?

q85dw7osi4lebg

Lex Luthor wrote: »

Are we on the way down to fill the CME gap at around $8500?

Hopefully

q85dw7osi4lebg

Make or break time (my own chart)

makeorbrake

Lex Luthor wrote: »

these happen every now & again...am expecting more and more as it inches upwards

you cant have 10-12 green candle days without a dump every now & again

For sure...and that may make for a more healthy uptick this year. Last year it pushed up far too quickly.

maninasia

makeorbrake wrote: »

BTC ****ting the bed...flash crashing at $9917...

It's already bounced back up. Bullish. Seriously.

cnocbui

makeorbrake wrote: »

BTC ****ting the bed...flash crashing at $9917...

Bitcoin doesn't crash, it just takes a rest.

makeorbrake

cnocbui wrote: »

Bitcoin doesn't crash, it just takes a rest.

No sh1t! ,,🤠

Lex Luthor

makeorbrake wrote: »

For sure...and that may make for a more healthy uptick this year. Last year it pushed up far too quickly.

Even this small retrace is healthy enough

grindle

Smart spot by this guy: https://www.trustnodes.com/2020/02/15/hacker-makes-360000-eth-from-a-flash-loan-single-transaction-involving-fulcrum-compound-dydx-and-uniswap

Lex Luthor

Addison Fancy Macrame wrote: »

Hopefully

if it does you better get in quick because there is a CME gap right now above at €9500

JJJJNR

Put some thought into my exit strategy on my holdings over the weekend, and set everything to sell in minimum 1000 token blocks depending on the token as I've millions of them under some projects, at various intervals up to the 100x.

Grumpypants

JJJJNR wrote: »

Put some thought into my exit strategy on my holdings over the weekend, and set everything to sell in minimum 1000 token blocks depending on the token as I've millions of them under some projects, at various intervals up to the 100x.

Hit me up when you sell that block of 1000 bitcoin. I'll help you spend the cash

JJJJNR

By the time these grow, bitcoin will be the cash, with some of these bags in close proximity. . Fingers crossed.