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Is anyone else starting to become a bit worried? mod note in first post

Autochange

Bear markets
Fud
Regulation
Wall Street manipulation
The supposed tether ticking time bomb

What are your thoughts? Have you cashed out? Have you been buying the dips?

MOD NOTE:
Its good to see healthy debate and discussion taking place and I am sure every supporter of cryptocurrency and blockchain can agree that the contrarian viewpoint is worthwhile reading, if only to act as an anchor and help prevent investors from getting carried away in an echo chamber of "everything is wonderful, just keep going"

However, there have been a few reported posts recently which I did not action as I wanted to see the thread level out itself rather than start forcing viewpoints and I have been in two minds about that decision.

I'm not going to single any posters out but I'm going to ask that all posters read the forum charter and I want to point out that it was established years ago in the Television forum, that dropping in on a forum to tell the followers of that forums topic (in that case a particular tv show) that it was all crap and only idiots watched it etc etc was the exact definition of being a dick and attempting to troll. I know this because I was the mod of the forum at the time. Now look at the forum charter again.

There is pretty much one rule on this forum : if you cannot discuss in a civil manner, and I mean discuss, not soapbox or attack, then you have absolutely no business posting here and I have no qualms about removing your ability to do so.

This forum is for people that have in interest in cryptocurrencies, blockchain and their application to financial investments. that can be positive or negative but if you really feel the need to start pulling out memes / hiding insults in imaginary hashtags / attacking personalities or just generally being a dick there are other forums you can post in where I will let the local mods determine if it is within the scope of allowable behaviour. Here, it is not.

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Chuppa Siopa

I put a significant portion of my holdings in all coins in USDT when BTC was about €47,700. I think there is further to go in this correction....only time will tell.

Rob2D

I finally got my act together and Tether'd up most of my positions last night. I've decided that all this wallet and staking thing is only a mug's game. At least in a bull year like this.

My Cardano is staking until this evening and it's looking like a stupid decision to leave it in but whatever. And my ZIL is god knows where, lost in the cryptoverse until it comes out of stake. Plus it took me so long to get all the ERC20 stuff moved.

No, from now on everything I own that can stay on the exchange is staying on the exchange. Ready to move or stable up. I'm sick of getting caught out. Time to learn to play this game.

antimatterx

Well **** me

Rob2D

Stupid Biden and all this eat the rich crap.

Most things hitting support now though I think.

Chuppa Siopa

Chuppa Siopa wrote: »

I put a significant portion of my holdings in all coins in USDT when BTC was about €47,700. I think there is further to go in this correction....only time will tell.

Bought back in this morning, up an average of 13% in coin holdings, very happy with that. It may drop further, but who knows

Timmaay

Chuppa Siopa wrote: »

Bought back in this morning, up an average of 13% in coin holdings, very happy with that. It may drop further, but who knows

The thing stopping me bothering with likes of this is the significance CGT I'd have to pay on the btc that I bought around 10k$. I've cashed out a reasonable amount of alt coin profits for usdc usdt, and am staking that for as high a return as I can get, but the majority of my BTC and ETH I'll just hodl

Chuppa Siopa

Timmaay wrote: »

The thing stopping me bothering with likes of this is the significance CGT I'd have to pay on the btc that I bought around 10k$. I've cashed out a reasonable amount of alt coin profits for usdc usdt, and am staking that for as high a return as I can get, but the majority of my BTC and ETH I'll just hodl

I don't do this across all holdings, just some. And this is purely with alts.

If somebody does it with 10k and hodl everything else, and manage it 3 times in a year, they'll be up 3k after CGT...very rough calc, that's 30% return.

Lots of ifs and buts there, so not recommending it

Mr Rhode Island Red

Binance under investigation by US department of justice and IRS

https://twitter.com/crypto/status/1392888177363406852

Dohnjoe

CorkRed93 wrote: »

https://twitter.com/SilvermanJacob/status/1392852439779401730
interesting.

It's basically backed. They have diversified the collateral for Tether into securities, treasuries, repo's, etc, and cash. Pretty normal stuff. Not sure whether the amounts specified are the market value or the nominal value

This is fairly normal, a bank can back cash usage up to the amount of collateral they have (depending on other factors) and that collateral is typically securities, not long balance cash. The quality of those securities do matter, so I hope Tether are using market value

Dohnjoe

Mr Rhode Island Red wrote: »

Binance under investigation by US department of justice and IRS

https://twitter.com/crypto/status/1392888177363406852

Wow, the bad news really all hits at once

djan

Dohnjoe wrote: »

Wow, the bad news really all hits at once

Don't see any bad news there? Banks do the sharing of data often automatically. As much as its bandied out that crypto is used for money laundering etc. cash is still vastly superior more used for this as it is mu h harder to trace than crypto.

Unless the general public misunderstand such probes, it shouldn't really impact things. Given the madness around Elon etc. the market has been a bit irrational recently.

Dohnjoe

djan wrote: »

Don't see any bad news there?

Elon's tweets, Vitalik's reaction to Shib, and Binance under investigation - the details and context don't matter to the market, it's reacted by dropping around 15% so far.

We've been peaking along at ATH's for quite some time now, if it recovers from this and there's no more "bad news", I'd be relatively bullish. But if panic starts to set in, the drops could become recurring and self-sustaining. Next 48 hours should tell us. And I want to see how Asians react when they wake up.

the market has been a bit irrational recently

The market is irrational by default.

seannash

Dohnjoe wrote: »

Elon's tweets, Vitalik's reaction to Shib, and Binance under investigation - the details and context don't matter to the market, it's reacted by dropping around 15% so far.

We've been peaking along at ATH's for quite some time now, if it recovers from this and there's no more "bad news", I'd be relatively bullish. But if panic starts to set in, the drops could become recurring and self-sustaining. Next 48 hours should tell us. And I want to see how Asians react when they wake up.

The market is irrational by default.

Just on the binance thing, the second point in The artical states that they have said binance has not been accused of any wrong doing. They request info from binance.

seannash

Mr Rhode Island Red wrote: »

Binance under investigation by US department of justice and IRS

https://twitter.com/crypto/status/1392888177363406852

Just read the second bullet in that article please

Jackben75

Dohnjoe wrote: »

Elon's tweets, Vitalik's reaction to Shib, and Binance under investigation - the details and context don't matter to the market, it's reacted by dropping around 15% so far.

We've been peaking along at ATH's for quite some time now, if it recovers from this and there's no more "bad news", I'd be relatively bullish. But if panic starts to set in, the drops could become recurring and self-sustaining. Next 48 hours should tell us. And I want to see how Asians react when they wake up.

The market is irrational by default.

Binance article is fud, musk taking the piss, Vitalik making a point and a serious one at that. Bull market is far from over, bounce will happen very soon (next few days). Whales having a whale of a time at the moment , taking full advantage and manipulating more :pac: Relax!

Somecrimesitry

Somecrimesitry wrote: »

Cardano has been like a boss, you could have turned €10k into €300k+ since March 2020. If you hold until after smart contracts go live in August you'll have €600k+ in your pocket. Best investment I ever made back in 2018 at sub €0.03. It's recently surpassed my very costly stock portfolio painstakingly built up over 20 years. All the while you'd have also earned a few extra grand in staking rewards.

Sorry folks I was a few months out. I guess people could still argue over €590k v €600k...but what's €10k amongst friends:)

antimatterx

So, it's been an interesting few days. I'm still in the green overall, but just about.

Pintman Paddy Losty

I warned people to cash out. But publically, but moreso to people who had signed up to my Pintman Paddy Losty newsletter which is based on my celebrated PPL Technical Analysis algorithmn.

Folks, we are in stage 4 decline when it comes to crypto right now. You can blame your former hero Elon, but it's just the fundamentals of a bubble. If you are still in the green, don't be sentimental and hodl... time to pull the plug and take whatever you've made and run. Gonna be a long long time if those ATHs are ever seen again.

SnuggyBear

Get out while you still can lol

Stake your usdt for the time being.

Dohnjoe

Pintman Paddy Losty wrote: »

I warned people to cash out.

You and your other account warned people to cash out when Bitcoin was 3k and Eth was a hundred quid and that it was all going to zero.

So yeah, not much credibility, but if/when this kicks off another bear I'm sure you'll be here to remind everyone of the fact

TheAnalyst_

Absolutely loving this hahah

Irish_rat

This is a crash not a dip and it's bloody fun!

Pintman Paddy Losty

Dohnjoe wrote: »

You and your other account warned people to cash out when Bitcoin was 3k and Eth was a hundred quid and that it was all going to zero.

So yeah, not much credibility, but if/when this kicks off another bear I'm sure you'll be here to remind everyone of the fact

I've came to provide advice for free. People can choose to take it or leave it. DYOR as they say.

But this thing is going to fall quicker than a fat slags knickers at a swingers party.

Dohnjoe

Freefall now

grindle

TheAnalyst_ wrote: »

Absolutely loving this hahah

Same.

Very wholesome when disparate camps can bond over a shared experience.

Irish_rat

It's good when reality kicks in. So many leveraged trades are rekt

HGVRHKYY

Dohnjoe wrote: »

You and your other account warned people to cash out when Bitcoin was 3k and Eth was a hundred quid and that it was all going to zero.

So yeah, not much credibility, but if/when this kicks off another bear I'm sure you'll be here to remind everyone of the fact

Don't disrespect his CELEBRATED analysis!

I hear he was headhunted by Berkshire

seannash

Pintman Paddy Losty wrote: »

I've came to provide advice for free. People can choose to take it or leave it. DYOR as they say.

But this thing is going to fall quicker than a fat slags knickers at a swingers party.

He raises a good point though, can you admit you were wrong the last couple of times you said it was going to zero?

sabat

Slideways

The three blokes I know who have had money in the crypto game have all cashed out now.
They are happy to be out with their head above water.