What gets me is the neck of the irish government going after individuals with heinous levels of penalties when Ireland's main line of business is it's one giant tax minimisation/avoidance scheme run on behalf of US MNCs. Many countries in the EU have a very negative opinion of Ireland as a result.
Depends on what you consider "dipping". Revenue could absolutely consider an ordinary worker as being a "trader" and request income tax instead of CGT. If you repeatedly have an aggregate consideration (total sell amount of all assets in a year) in the same investment product (i.e. crypto) that exceeds a certain threshold and you do this for multiple years - they can and will nail you for income tax.
Sol holding out well so far in this dip, seems to be doing its own thing these days, very impressive.
It's more risky.
Buy when the market is low, red, and no one is talking about crypto. Think about selling when it's hitting ATH, making some headlines and has been green for weeks.
However if someone is familiar with the market, yes they can come in "late" e.g. now or the last few weeks, but that's really pushing it. Alternatively some choose to wait for a big bull drop and see if they can make money on the upswing on the other side in the short term (e.g. 2017 or 2021)
FET looking pretty resilient with that drop. Apparently putting .ai in the name has worked wonders.
short and futures traders getting wrecked again.
How are short traders getting wrecked?
Both are leverage trading and not settling stop losses or having enough cushion. The volatility works both ways.
Looks like we are getting quick 10% drops and then a slow climb back 11-12% before another quick 10% drop and a slow climb back 11-12%, its on repeat but price going right direction long term
The whole market has slid around 10% to 15% from peak in the last 4 or 5 days. All pretty normal stuff for this type of rise.
On a side note, there aren't as many "hype" generators this time as 2021 or 2017, so will be curious to see what happens to the market as a whole over the next 6 months or so.
Are we expecting BTC to take a decent hit in run up to April?
I wouldn't be surprised to see a pullback into the 50's, but that's just me. I expect wild volatility most of the time.
I was going to cash out the few quid I have in bitcoin if it went another 10 percent or so upwards but looks like I will be holding for another while.
50k wont be happening
Yes it will and so will 40.
Maybe next cycle but not this one, pullback now complete, we go sideways and then up, supercycle
Will it continue to drop this week do ya reckon
Could go up or it could go down. Or maybe we'll go sideways for a while. Nobody knows...
what's the thinking on worldcoin?
Anything that Sam Altman touches will probably be successful
It shouldn't be so but more than likely. Eye scanning bullsh!te for a global ID to then claim your free WLD coins, nasty governments will love this in the future. But currently banned in spain,
Like Chainlink. You can kinda start buying them by association now. Everything is so messed up nowadays. If it stinks, it's a winner.
But the concept would be a game changer if achieved, imagine being able to authenticate each person across the internet, fraud would be reduced overnight.
For a week or 2.
I'm all for SSI but handing bio metrics off to a third party isn't the way to achieve it.
True nobody knows but we've been here multiple times and the same thing has happened.
The only difference from the past is that with this one there's less hype. Each consecutive bull has been more hyped than the last, drawing in huge numbers of unsavvy investors which get scalped. This one seems to be "earlier" than normal, with little or no hype, just going up because "that's what it does". So possibly might not be as big as 2021 across the overall market, numbers have shown that already.
All that said, if I were to guess, I'd expect to see some sort of rebound similar to the last bulls. Another 30% or 40% drop and I might put something back in. The usual disclaimer, nobody knows, but I wouldn't be surprised to see BC go higher and e.g. Eth break ATH around mid-year.
Feeling alot happier now that I took quite a bit of my Bitcoin off the table over the last two weeks.
So you sold about two weeks ago when it was in the mid 60s... it has since went to the mid 70s and is back in the mid 60s after a slight, but much anticipated correction. It would probably cost you more now to buy the same amount with fees, never mind CGT. Fair enough you're bearish, but you're very much in the minority especially around the halving. Time will tell whether it was a good move.
Indeed but it's important for people to safely hit their targets for whatever personal reasons. Time is a big factor. Constantly attempting to maximise gain can be a rabbit hole and white knuckle ride.
I know people who very happily sold their BTC for e.g. 15k in 2017 and have no regrets. BTC may very well be 200k in the future, but some people need e.g. a car or a deposit or a house now.
It's about taking profit and being content with it regardless of whether the market moons or not after it. Diamondhanding is not a strategy if you're looking for reasonably short term returns.
An asset going up 100% in a month, especially when it's as big as Bitcoin is not normal or healthy. I some risk off the table. Bitcoin will probably go higher and higher but even if it doubles again I'll make more in alts than bitcoin at this point. CGT isn't a reason not to sell.
I got caught up last cycle in this "up only theory" and diamond hands bullshit. I won't be caught like that again. I also don't need to try and sell at the very top. Selling at 70K and it goes to 80K? Who cares. An extra 10% or so means little.
I'm also going to buy a house so I want cash for that.
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