Bitcoin just made a new ATH in euro’s. Been a mad start to the year.
The prediction I’m looking mostly at is the theory that all on risk assets are heading for a blow off top, meanwhile the economy deteriorates forcing the fed to cut rates which traditionally kills the risk on markets.
Correlation is that gold (risk off) looks like it’s preparing for a bull run
Guess we will see soon enough. New all time high this week I’m hoping
I'm very tempted to sell everything. I'm not comfortable in the market at the moment.
Have a look at Bitcoin versus the Argentine Peso for the last year. Crazy stuff. Up over 12 times.
SHIB INU is now the 10th largest cryptocurrency in the world, just behind Doge. Likely soon to be joined by "Pepe" and "Bonk". Just in case anyone was taking crypto seriously for a moment.
I wonder if you could make money off the back of 'trending' coins by searching what's trending on the major aggregrators (CMC, Gecko, CDC, Coin Codex etc)... just as a recent example PEPE has 5x'd since it started trending a week or so ago. Could be high risk, but high reward. I know it's a sh*t meme coin but lots of people are looking for the next Shib / Doge and most people are in this to strategically make quick gains.
Is there a way to see what cryptos are trending on Twitter/other socials?
Google trends possibly? Fomo will keep going for the next while anyway, depends how much money goes out of Bitcoin into the alts.
Wow... just a quick look at some of the google search trends in some of the most populated countries.. at least 30% of the top 10 google searches are relating to crypto. It's going to be an interesting month/year to say the least. With national elections being held in over 60 countries and institutional skepticism quite high/inflation rampant, I can see more capital flooding into crypto in the short term anyway. Not investment advice... just a hopeful hunch of a good year ahead for those involved. I'll be selling around 25% of what I have shortly after the halving anyway...still one of my regrets not doing so after the last bull run but thankfully it's come back around again.
The biggest asset managers in the world have decided that Bitcoin is not as risky as it used to be and is the future of value storage, the value of a dollar is declining, the crypto industry has been given a clearout where we are left with reasonably trustworthy exchanges, halving upcoming and BTC holders ain’t selling, the money put into Bitcoin is not fast money as it is left there over long periods, over 99% of Bitcoin wallets are in now in profit, son to be 100%, 100 to 150k is now a considered a pessimistic top, trillions forecasted to enter over the next couple of years…
and you are not comfortable
It's not bitcoin I'm uncomfortable with. It's the entire market. Feels too euphoric.
I've been holding Bitcoin for 3 years and I think it will only grow long term. Absolutely no doubt. But this rally won't continue much longer.
A few months ago a fund manager would have lost his/her job for buying BTC.
Today, all has changed. Fund managers can now allocate L Institutions are buying BTC, businesses are putting BTC on their balance sheet.
Retail FOMO will come. Adoption is and will exponentially rise.
USA debt balance increasing by $1trillion every couple of months and compounding.
Fiat is fxcked
Flight to crypto only starting. Most of the bad actors are in jail or before the courts
No problem. If the chart/model is reliable, the next time the 2 lines shown touch, even briefly, it will indicate the BTC market has overheated, the top’s been reached, and it’s time to sell some or most of your BTC.
For ALTs it’s a bit different, as they tend to lag. So when this chart is indicating sell BTC, this could well be that capital is flowing out of BTC into ALTs for one last blow off top, before the whole lot plummets.
But, it’s only one indicator, so you’d want to taking a look at things like BTC dominance, amounts moving ON/OFF exchanges, etc. There’s too many indicators to keep track of though, so I’m picking about 3 or 4 I’ll pay proper attention to, and using them to guide me 🤞
Sold half my spot. Will sell the other half over the next week or so.
Ill buy back in when things reset.
Risky, given that everything could go parabolic with BTC hitting a new ath
Of bitcoin? Hopefully it works out but that seems like madness just as it gets back to base.
68k now. Only a matter of time now surely
How are profits on crypto taxed?
33% Capital gains tax same as shares. You declare it all but the first 1270 is tax free. After that it's the normal 33%rate.
..
Safe strategy more like, nothing wrong with taking profits.
A bit of a theory out there that reaching ath again is a triple top and market will capitulate, it’s a bit like Y2K all over again.
Being at 5% interest rate and 2.6 T market cap has a lot of people scratching their heads, because if it isn’t a downturn then it’s parabolic.
True, we all may have different strategies too, some get in and out multiple times, and others just buy as low as they can and try time the top as best they can to exit.
Selling now is really really really really stupid. However profits are never stupid.
Selling now is not at all stupid. Let's come back in 3 months and review. The economy is not strong. Even Gold is rallying ffs.
There's also a very strong argument that you have called the top for BTC already. I'd be inclined to agree with that, but I'm more hopeful for alts to take off so maybe I'm a bit biased. I'm also well aware that this post may age terribly! 😂
The narrative that flows with BTC is that the dollar is in decline, I’m of the belief that’s why Blackrock and others are here now, people really starting to realise how bad it is to hold cash, all assets are better than the declining paper in the pocket, ffs even doge and shib have better potential than cash.
USD is really heading towards a disaster yeah, the amount of dollars printed over the last few years and their immense national debt is frightening really. Hard to see things going in a positive direction long-term, a lot of people in the US are struggling majorly these days with the basics (similar in many countries, including our own of course)
True that, the Argentine Peso is a joke.
'Capital flowing out of BTC into alts'.
Hard to imagine, frankly.
When Bitcoin Dominance starts a down trend that indicates liquidity will flow to alts. For the time being it's still in an up trend.
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