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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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Bob24

banie01 wrote: »

There is a huge degree of difference between someone HODLing a coin the bought for 500 versus someone who bought at 33000.

Of course the 500 buyer will find it psychologically easier to go through a potential upcoming violent correction.

But at the end of the day it should not influence anyone’s decision to HODL or not: one should be HODLing only because they have a strong long term belief that prices are going higher *compared to where they are right now*. Whether the person got in at 500 or 33000 plays no role in that belief.

Whelo79

Dohnjoe wrote: »

Reading through the usual crypto forums, subs and sites. Glad with the gains but what an utter ****fest; "HODL we're all going to get rich together!", "Don't sell, iron hands!", "This is nothing, going 10x soon", etc. A lot of poor schmucks being unloaded on and they have no idea.

You could say the same thing about people who bought in at $20k in 2017. The hodlers are well up now, while those who sold to solidify their loses (weak hands)are still losers.

laurah591

JoeCole26 wrote: »

Understand it’s impossible to predict, but in your opinion, if not already invested in BTC at this stage, have we missed the boat? Thanks

At 33k I wouldn't be opening a new position. The FOMO is real!!! Maybe wait till the retracement

banie01

Bob24 wrote: »

Of course the 500 buyer will find it psychologically easier to go through a potential upcoming violent correction.

Far, far easier tbh and as many of us here, you included have advised.
Always have a plan to at least regain your original investment and have fun watching the rest ride

Bob24 wrote: »

But at the end of the day it should not influence anyone’s decision to HODL or not: one should be HODLing only because they have a strong long term belief that prices are going higher *compared to where they are right now*. Whether the person got in a 500 or 33000 plays no role in that belief.

Saying it shouldn't influence a decision to HODL is easy, very easy when one has been through a few cycles.

The reality for new money is very different though. I'm sure many of us know people who bought ALTs during the last bull?
That are either still at a loss, or crystallised.

Even the influx of new posters here over the last few weeks. Is it too late? Have we missed the boat and so on?
Honestly, I don't think they have but, I don't know what their financial position is and I'm not going to timeline their time to gains from buying in to BTC at this ATH.

Lots of chatter on crypto forums from noobs, buying in due solely to FOMO.
They are going to be bagholders at some point on this run.
Describing it any other way is unfair to them tbh.
Yes, institutions and mass adoption are now rising above the parapet.
That doesn't mean that everyone profits tho.

Mass adoption could also well raise the spectre of tranactionalism (I don't think it will) but I don't think we can expect new entrants to strap in for a long cycle and HODL.
Yes it's what should happen, but when your Mrs is wondering why the CC suddenly has a huge charge to an exchange and the market has done its traditional fall back and you are 10k in a hole?
Facing recession and lockdown?

As I said, it's not a chat I'd like to have with mine

seannash

Very true,
I first got into crypto in 2016 but took a largish position around september 2017. Managed to get out in profit but jesus it was terrifying to see if fall so hard. I can totally understand new investors getting burned bad right now. Ive seen a few people on bere told to hodl only to see any profits they had slip away.
Most dont care about the tech, most want to make money and when they are in the hole in a unfamiliay yet accesible scene its easy to see how people get themselves into trouble

seannash

So with that in mind and everything we know what do you guys feel is the coin that will moon, for all those people who missed the crazy gains from bitcoin.
I understand that bitcoin has the potential to triple your money in 2021 but im talking rhe coins where you invest 1k and can pay for a house in 5 years.
I used to think neo was that coin for 2020 but they have been disappointing this year

antgal23

seannash wrote: »

So with that in mind and everything we know what do you guys feel is the coin that will moon, for all those people who missed the crazy gains from bitcoin.
I understand that bitcoin has the potential to triple your money in 2021 but im talking rhe coins where you invest 1k and can pay for a house in 5 years.
I used to think neo was that coin for 2020 but they have been disappointing this year

If I knew that Sean I'd be sitting in my island in Barbados

In the Boom - Bust cycle of BTC where do you think we are and why?

Bob24

banie01 wrote: »

Far, far easier tbh and as many of us here, you included have advised.
Always have a plan to at least regain your original investment and have fun watching the rest ride

Yes but in that case i don’t think the right advice for a newcomer is to tell them that HODLing is not for them because of their higher entry point. IMO the proper advice is rather to tell them not to go in all at once, and to DCA over several months instead - in order to avoid getting caught-up in a violent crash just after they invested all their cash (which is not contradictory with HODLing if this is what they want to do).

banie01 wrote: »

Saying it shouldn't influence a decision to HODL is easy, very easy when one has been through a few cycles.

The reality for new money is very different though. I'm sure many of us know people who bought ALTs during the last bull?
That are either still at a loss, or crystallised.

Agree it is easier to say when you have been around for some time. But still, it is pure logic and pragmatism.

The only valid reason to HODL is that you have a strong and positive long term outlook on the price.

And a person's entry point (500 or 30000) doesn't change future risk-adjusted returns in the slightest.

So if 2 people have the exact-same level of belief in terms of future prices, there is no rational reason for them to apply a different HODLing policy depending on whether they got in at 500 or 30000 (in the absence of strong belief, as much as the 30000 guy should moderate his enthusiasm to HODL, the 500 guy should also not get emotionally attached to his position and liquidate some of it for cash or to redeploy to other assets).

Daithi40

anyone want to share what they've set their btc stop loss value? I haven't set one right now, but thinking about placing one tomorrow....
Having said that, I'm conscious of an engineered flash crash to shake out some btcs and then straight back up..TIA

seannash

antgal23 wrote: »

If I knew that Sean I'd be sitting in my island in Barbados

In the Boom - Bust cycle of BTC where do you think we are and why?

Hahaha very true.
I do see a lot of people posting about coins when they have mooned and claiming that they got in early. Guess I'm asking whats the next one.
As for where we are in the boom bust cycle, no idea. I nearly sold mt bitcoin 2 days ago having felt it peaked but got distracted and well.. I still have it.

LedgerSuck

antgal23 wrote: »

We are not in the mental phase yet

A few models knocking around suggest BTC highs of 50 to 100 K by 2022

We have a bit to go

Those are conservative models

LedgerSuck

JoeCole26 wrote: »

Understand it’s impossible to predict, but in your opinion, if not already invested in BTC at this stage, have we missed the boat? Thanks

Not at all, nothing wrong with getting 2x or even 3x, and if you're prepared to hold long-term, and endure whatever potential terrible crashes may come, you could possibly end up getting even higher than that again

Just DCA and be consistent, and take advantage of any dips or crashes

LedgerSuck

banie01 wrote: »

They are going to be bagholders at some point on this run.

It's a crypto rite of passage

Daithi40

eth about to hit $1k....

Bob24

Daithi40 wrote: »

eth about to hit $1k....

Up 27% today only ... I know it is crypto we are talking about, but still this is a pretty mad figure!

BrandonBay86

Can someone tell me when the ETH halving is or what the fixed supply is? Can’t seem to find it on the web.

Bob24

BrandonBay86 wrote: »

Can someone tell me when the ETH halving is or what the fixed supply is? Can’t seem to find it on the web.

ETH doesn’t have a predefined monetary policy like BTC. I.e. no halving and no maximum supply which is set in stone.

joinme

Not on an exchange but thinking of investing in Crypto. I see I can buy on Revolut, any reason why this would be a bad idea in anyone's experience?

Bob24

joinme wrote: »

Not on an exchange but thinking of investing in Crypto. I see I can buy on Revolut, any reason why this would be a bad idea in anyone's experience?

Key reason: your crypto will be stuck on Revolut with no way to send it anywhere else.

Gooey Looey

joinme wrote: »

Not on an exchange but thinking of investing in Crypto. I see I can buy on Revolut, any reason why this would be a bad idea in anyone's experience?

You don't get the crypto on Revolut, you cannot withdraw it or trade it outside Revolut, therefore it isn't crypto, it's an IOU to the value of a crypto.

antgal23

seannash wrote: »

Hahaha very true.
I do see a lot of people posting about coins when they have mooned and claiming that they got in early. Guess I'm asking whats the next one.
As for where we are in the boom bust cycle, no idea. I nearly sold mt bitcoin 2 days ago having felt it peaked but got distracted and well.. I still have it.

I got burnt in 2017, and then got more burnt in 2018 ( "my name is Ted and I am a crypto junkie") ROFL

My crystal ball is cracked so I cant pick the next BTC top but if it it sells off more than 20% I'll sell all into cash and hold until a bottom forms.

My point is, get an exit and entry strategy, be long term

BrandonBay86

Bob24 wrote: »

ETH doesn’t have a predefined monetary policy like BTC. I.e. no halving and no maximum supply which is set in stone.

Wow. So a bit like USD?

[Deleted User]

Daithi40 wrote: »

eth about to hit $1k....

There she blows!

Thargor

6 wrote: »

There she blows!

Oh feck, dont know whether to go to bed or stay up and sell when it starts to turn, Im freaking out here! :eek:

JoeCole26

Thargor wrote: »

Oh feck, dont know whether to go to bed or stay up and sell when it starts to turn, Im freaking out here! :eek:

Resistance at 1k it seems. Interesting.

unkel

Thargor wrote: »

Oh feck, dont know whether to go to bed or stay up and sell when it starts to turn, Im freaking out here! :eek:

You must be glad you didn't sell up at the start of the day when you were planning to. That 3 bed semi you were hoping for might turn into a mansion yet

antgal23

Tomorrow's open will be interesting, traders being off for Christmas and NY returning

If I recall correctly BTC 2017/ Jan 18 high of 20k and subsequent sell off indicated overall sell off in the space

BTC hit 35 k , an increase of 75% on previous ATH, will ETH follow suit and go to 2300 ?

Buckle up folks

LedgerSuck

ADA +18% over the past 24 hours and over $0.20, highest it's been in 2+ years as well

Underground

Sold my ETH today to break even after bag holding for about three years. The fact I sold means ETH will go to the moon now, its guaranteed.

LedgerSuck

Underground wrote: »

Sold my ETH today to break even after bag holding for about three years. The fact I sold means ETH will go to the moon now, its guaranteed.

Your sacrifice is appreciated!