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Cryptocurrency thread


phart010

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40 minutes ago, Bearcat-Doug said:

Is GME still a thing? I haven't paid much attention recently.

The last couple times it had big declines there was a quick push back up. This time the drop was large, but the volume relatively low and the IV more stable. I'm hoping there is a nice bounce, but I'm a little nervous.

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24 minutes ago, Californication said:

 

 

The last couple times it had big declines there was a quick push back up. This time the drop was large, but the volume relatively low and the IV more stable. I'm hoping there is a nice bounce, but I'm a little nervous.

It seems like bitcoin has been that way recently. I'm fairly satisfied with what I've got in it, so I'll probably just sit back and watch for any major dips before doing any more buying.

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BTC has really stabilized nicely. I'd love to see it drop but I'm just doing DCA now, buying more every week. I'd like to get around 1 BTC and 5-10 ETH. I'm also holding a decent amount of Cardano and plan to get some Ripple and Polka Dot.

The rest of my cash is parked in USDC which gets 9% interest on Voyager. Just waiting for a big drop to get in at better prices.

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4 hours ago, DoctorEncore said:

BTC has really stabilized nicely. I'd love to see it drop but I'm just doing DCA now, buying more every week. I'd like to get around 1 BTC and 5-10 ETH. I'm also holding a decent amount of Cardano and plan to get some Ripple and Polka Dot.

The rest of my cash is parked in USDC which gets 9% interest on Voyager. Just waiting for a big drop to get in at better prices.

You can get 12% interest just staking your coins on some platforms.

I just bought a pile of Ripple for 60 cents and sold it for $1.31. I almost guessed the peak correctly but it did go a little higher after I sold.

Looks like TRX is making a run now, you can easily make a few hundred dollars buying it now and selling tomorrow.

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9 hours ago, DoctorEncore said:

BTC has really stabilized nicely. I'd love to see it drop but I'm just doing DCA now, buying more every week. I'd like to get around 1 BTC and 5-10 ETH. I'm also holding a decent amount of Cardano and plan to get some Ripple and Polka Dot.

The rest of my cash is parked in USDC which gets 9% interest on Voyager. Just waiting for a big drop to get in at better prices.

Do you plan to keep buying when you get to those numbers or will you ride it out for awhile? 

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49 minutes ago, Bearcat-Doug said:

Do you plan to keep buying when you get to those numbers or will you ride it out for awhile? 

I'll probably stop buying those major coins at that point and just put a little into alt coins here and there. I don't want to get too heavily invested in crypto since there is still some long term uncertainty. We don't really know how it's going to react to major economies/countries introducing their own digital currency. My goal is about 5% of my portfolio, maybe 10% if things start to look more solid long term.

Stocks have at least been around long enough that I know generally how they will behave over the next thirty years. I don't want to risk my retirement on something so new.

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39 minutes ago, DoctorEncore said:

I'll probably stop buying those major coins at that point and just put a little into alt coins here and there. I don't want to get too heavily invested in crypto since there is still some long term uncertainty. We don't really know how it's going to react to major economies/countries introducing their own digital currency. My goal is about 5% of my portfolio, maybe 10% if things start to look more solid long term.

Stocks have at least been around long enough that I know generally how they will behave over the next thirty years. I don't want to risk my retirement on something so new.

I had planned on taking a break when I got to 1.5 bitcoin, but I added a bit more on the first of this month. I'll probably let it run over the summer and see where it stands in the fall. 

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13 hours ago, Bearcat-Doug said:

Bitcoin hit a new ATH of $63.2k already this morning. It will be interesting to see if it takes off this week.

It's all the Coinbase DPO hype. I'm thinking a new high of 65k since people like round numbers then a pullback of 5-10%. It's definitely moving the floor with the ceiling. It's going to take a big event to knock it way down at this point.

I'm moving more into Ethereum and other alt coins now. Ethereum should continue to rise nicely as they add in burning. A lot of people are excited about Cardano although the supply is way too high for my liking.

Edited by DoctorEncore
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I'm not sure why anyone is buying Bitcoin at this point, it'll only go up 2% - 3% while other coins are going up 20% - 30%. I bought Ripple for 60 cents last week and sold it today for $1.85. I bought TRX last week for 11 cents and sold it today for 15.5 cents. The return is way higher on other coins.

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1 hour ago, Californication said:

They way riot lags bitcoin makes it easy to trade. This morning it was 8% premarket because btc was over 60K, it dropped to 3% ahead so I bought in and am holding. Was a good day.

I was pretty sure Tesla and Square were both going to have a great week since they are the most prominent crypto-adjacent companies on the market. So far that is playing out as expected. The nice thing about 24/7 crypto trading is that it gives you some info about the market the next day.

4 minutes ago, Code Monkey said:

I'm not sure why anyone is buying Bitcoin at this point, it'll only go up 2% - 3% while other coins are going up 20% - 30%. I bought Ripple for 60 cents last week and sold it today for $1.85. I bought TRX last week for 11 cents and sold it today for 15.5 cents. The return is way higher on other coins.

That's like saying you can make more money trading penny stocks than Apple, so why would anyone buy Apple?

You buy Apple and Bitcoin to hold until retirement. You buy Tron to make a quick buck. If you put $10,000 into Apple or Bitcoin, over the course of a year it's probably going to maintain that value or go up. If you put $10,000 into Tron, you better be prepared to lose $1,000 while you're making a quick trip to the bathroom.

Reading the ups and downs in crypto is even harder than stocks since crypto doesn't have traditional analytic metrics to help you make smart decisions. I'm not telling you what to do, but I do hope you realize there will be a pullback in the crypto space at some point and you probably won't be able to predict it.

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7 hours ago, DoctorEncore said:

I was pretty sure Tesla and Square were both going to have a great week since they are the most prominent crypto-adjacent companies on the market. So far that is playing out as expected. The nice thing about 24/7 crypto trading is that it gives you some info about the market the next day.

What is your theory on the correlation between tesla and crypto?

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10 hours ago, DoctorEncore said:

It's all the Coinbase DPO hype. I'm thinking a new high of 65k since people like round numbers then a pullback of 5-10%. It's definitely moving the floor with the ceiling. It's going to take a big event to knock it way down at this point.

I'm moving more into Ethereum and other alt coins now. Ethereum should continue to rise nicely as they add in burning. A lot of people are excited about Cardano although the supply is way too high for my liking.

I just stick to bitcoin as a long term hold, so I'm probably going to watch the price action over the next few months. I got most of my 1.61 BTC under $15k, so I don't have a lot of incentive to add to it at $64k.

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