Is anyone else starting to become a bit excited?

Whelo79 · 02-01-2021 02:46PM

It's unbelievable to see BTC hit $30k when so many people thought it would never see $20k again.

Imagine, people who bought in a month ago at $20k probably had others calling them crazy, you don't buy at the ATH, wait for the pull back. Those people have just gained 50% profit in a few weeks.

I hope there are a lot of people here making some nice life changing money, or even just some nice throwaway cash.

cnocbui · 02-01-2021 02:53PM

The regular naysayers are awfully quiet...

makeorbrake · 02-01-2021 03:09PM

cnocbui wrote: »

The regular naysayers are awfully quiet...

They're away getting salty - but you can be sure they'll be back. There have been some changes of heart over the course of the past few years but many have entrenched views on the subject. The same old tired arguments will repeat themselves as you'll be told what a travesty it is that btc dropped 80%. I believe that whenever this bull phase ends, it will drop 80% but who knows where it will be dropping from. Will it be in 6 figures before it turns round?

baalad · 02-01-2021 03:25PM

Do you guys have an exit strategy? Lets say you made substantial gains and your happy with your profit and want out. Is there a way to freeze your wallet to ensure your guaranteed the current value or do you simply have to exit quickly to avoid a possible dip etc

Secondly. Is there a limit on how much an exchange will give you? I imagine anything over 100k would be a nightmare trying to cash out from an exchange! Could you even trust them in fact given the scamming involved with crypto!

LedgerSuck · 02-01-2021 03:27PM

Whelo79 wrote: »

It's unbelievable to see BTC hit $30k when so many people thought it would never see $20k again.

Imagine, people who bought in a month ago at $20k probably had others calling them crazy, you don't buy at the ATH, wait for the pull back. Those people have just gained 50% profit in a few weeks.

I hope there are a lot of people here making some nice life changing money, or even just some nice throwaway cash.

It's unbelievable to think people were only wondering about 2-3 weeks ago when we'd finally breach $20k, and now we've gone over $30k. There were plenty of people on reddit who sold at $19-20k expecting a pullback, and even last night I saw one lad talking about how he'd sold 50% of his BTC stack in order to buy more when it pulls back

Shows that absolutely nobody has a clue what will happen in the short term and how risky that approach is

Gooey Looey · 02-01-2021 03:33PM

baalad wrote: »

Do you guys have an exit strategy? Lets say you made substantial gains and your happy with your profit and want out. Is there a way to freeze your wallet to ensure your guaranteed the current value or do you simply have to exit quickly to avoid a possible dip etc

Secondly. Is there a limit on how much an exchange will give you? I imagine anything over 100k would be a nightmare trying to cash out from an exchange! Could you even trust them in fact given the scamming involved with crypto!

When you cash in you can easily trade your crypto into stable coin like USDC which is pegged to the dollar. Most people have some sort of self devised exit strategy, some cash out their initial investment as soon as they turn a profit, others keep going then take it a large percentage. It's up to you!

Lexio7 · 02-01-2021 03:33PM

baalad wrote: »

Do you guys have an exit strategy? Lets say you made substantial gains and your happy with your profit and want out. Is there a way to freeze your wallet to ensure your guaranteed the current value or do you simply have to exit quickly to avoid a possible dip etc

You cannot freeze the value of you holdings at a given price. You would either need to convert your hold to fiat currency or stable coin.

cnocbui · 02-01-2021 04:07PM

I believe converting to stable coin is a CGT event, so factor in that juicy 33% of any profits above your tax free threshold you should be withdrwing as fiat to pay to Revenue.

Whelo79 · 02-01-2021 04:19PM

cnocbui wrote: »

The regular naysayers are awfully quiet...

Well, one of them is dead!

Kilboor · 02-01-2021 04:21PM

I think everybody should be putting part of their income into bitcoin every month. Nothing major but going forward I want to allocate 10-15% of my invested money into bitcoin every month

grindle · 02-01-2021 04:21PM

makeorbrake wrote: »

I believe that whenever this bull phase ends, it will drop 80% but who knows where it will be dropping from. Will it be in 6 figures before it turns round?

Small correction very likely in the next few days too, if history repeats it'll be a 35-40% cut, but from where? As for the end of the year... I'd wager on the six figures. Will be very interesting to see how cyclical the cycle really is, either way.

cnocbui · 02-01-2021 04:23PM

Whelo79 wrote: »

Well, one of them is dead!

I heard that, but took the announcement with a pinch of salt, as I have no way of knowing if it's true or not, particularly as I seem to recall someone doing some forensics and deducing they were the same entity as the other one.

BrandonBay86 · 02-01-2021 04:36PM

baalad wrote: »

Do you guys have an exit strategy? Lets say you made substantial gains and your happy with your profit and want out. Is there a way to freeze your wallet to ensure your guaranteed the current value or do you simply have to exit quickly to avoid a possible dip etc

Secondly. Is there a limit on how much an exchange will give you? I imagine anything over 100k would be a nightmare trying to cash out from an exchange! Could you even trust them in fact given the scamming involved with crypto!

Wouldn’t want to exit into a depreciating currency such as FIAT.

Jafin · 02-01-2021 05:02PM

Kilboor wrote: »

I think everybody should be putting part of their income into bitcoin every month. Nothing major but going forward I want to allocate 10-15% of my invested money into bitcoin every month

That's what I'm currently doing as of last month. Not 10-15%, in fact only a very minor amount (€26 in BTC and €26 in ETH) but that's solely because I'm currently house hunting and I don't want there to be any large chunks of money moving regularly from my bank account that might get questioned when it comes to the stage of drawdown. Once I've gotten past all of that and know how much money I'll have left at the end of each month I'll very likely increase my monthly investments. Crypto looks to be the smartest way of investing for long term gains.

02-01-2021 05:17PM

$32k done and still rising

jimmii · 02-01-2021 05:18PM

And there's $32k gone wow!

The 3 month chart is just unreal.

LedgerSuck · 02-01-2021 05:23PM

Unbelievable!

02-01-2021 05:25PM

33k by 5pm?

seannash · 02-01-2021 05:37PM

Frigging hell

makeorbrake · 02-01-2021 05:40PM

6 wrote: »

33k by 5pm?

with 20 minutes to spare:D

BrandonBay86 · 02-01-2021 05:40PM

$33,000. This is retail driven too.

makeorbrake · 02-01-2021 05:43PM

BrandonBay86 wrote: »

$33,000. This is retail driven too.

Hmm...I've been thinking about that. I don't think much of this has been retail driven but then there has to be a certain level of retail coming in to the party. I don't think there's as many people expressing FOMO as there was in 2017. I've just had a handful of people ask or express regret.

The other thought was ...well it's Saturday - but I think this market is well on its way toward the professional...so I guess these guys are working the 24/7 market that is bitcoin - 24/7. That or else its not institution led right now and it's a shoal of crypto whales...:eek:

BorneTobyWilde · 02-01-2021 05:44PM

Seen this at 20k, people who had no interest suddenly were looking for a piece of the pie. I'd count me in that group, no interest at 3k, suddenly interested at 32k.
Not good strategy. .. or is it. Can't see me buying at this price.

makeorbrake · 02-01-2021 05:45PM

Have paypal now opened up their crypto offering to the rest of the world (beyond the US) or has that yet to happen?

Bob24 · 02-01-2021 05:48PM

makeorbrake wrote: »

Hmm...I've been thinking about that. I don't think much of this has been retail driven but then there has to be a certain level of retail coming in to the party. I don't think there's as many people expressing fomo as there was in 2017.

The other thought was ...well it's Saturday - but I think this market is well on its way toward the professional...so I guess these guys are working the 24/7 market that is bitcoin - 24/7. That or else its not institution led right now and it's a shoal of crypto whales...:eek:

Yes, retail is playing a role but I also think institutions are on the driver’s seat.

And agreed, IMO it would be a mistake to think that because it is happening on the weekend it means it is retail action. Institutions have sophisticated purchase plans including algorithmic purchases and people monitoring the market on weekends.

Gooey Looey · 02-01-2021 05:50PM

Cel broke $6

Bob24 · 02-01-2021 05:51PM

makeorbrake wrote: »

Have paypal now opened up their crypto offering to the rest of the world (beyond the US) or has that yet to happen?

Not yet. I believe they have given a rather vague estimate that international rollout will happen in the first half of 2021 (not sure if it means some countries or all countries either).

BrandonBay86 · 02-01-2021 05:55PM

I’m only saying retail as it’s the weekend, and other than algos I’d be surprised to see any 500b+ mkt cap companies buying a piece of the pie today.

Any dips should get bought up fast.

Bob24 · 02-01-2021 05:56PM

Gooey Looey wrote: »

Cel broke $6

For those who are holding it, CEL truly has been the gift which keeps on giving. Exactly a year ago it was 14 cents!

Every time I see it reaching a milestone I wonder if a pullback is coming ... but it pretty much never happens.

LedgerSuck · 02-01-2021 05:56PM

BorneTobyWilde wrote: »

Seen this at 20k, people who had no interest suddenly were looking for a piece of the pie. I'd count me in that group, no interest at 3k, suddenly interested at 32k.
Not good strategy. .. or is it. Can't see me buying at this price.

Why are people like this lol. Nothing has changed with BTC before and after $3-4k

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Is anyone else starting to become a bit excited?

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