Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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I doubt that anyone has a problem for cashing out a portion of your stash - even if you end up being wrong... but cashing out everything seems a bit short-sighted even if you have around 5x profits at the cashed-out price.
Time will tell how it works out for you, and you know that it is possible that we get up and down price movement, that does not come back down to $50k.. time will tell about that, too.
By the way, what do believe that the guys who had bought into BTC at $50k should do? keep buying? Surely not sell, right?
I doubt that anyone has a problem for cashing out a portion of your stash - even if you end up being wrong... but cashing out everything seems a bit short-sighted even if you have around 5x profits at the cashed-out price.
Time will tell how it works out for you, and you know that it is possible that we get up and down price movement, that does not come back down to $50k.. time will tell about that, too.
By the way, what do believe that the guys who had bought into BTC at $50k should do? keep buying? Surely not sell, right?
So far, they're all holding it tight. Most even placed laser eyes (which honestly just makes me more confident in the "top is in"
).I doubt that you can completely go by that theory of overhype to have confidence that the top is in, but you surely can do what you feel comfortable with.
Surely your earlier mentioning of "Uniswap's USDC/DAI" does not seem to be either on-topic here nor a better place to rest your value.. including resting your value in the dollar (and sure that USDC/DAI is likely pegged to the dollar and maybe you are earning interest on it from where ever you are storing it? in dollar equivalents. if you don't lose it from the third party, right?).. but or whatever currency you cashed out your $50k BTC for.
LMAO, doesn't look like a decent way to talk to a pal after a year or so.
I am trying to talk substantively with you, and surely some of those pegged tokens are bringing in extra risk, but I will concede that they are somewhat relevant to this thread because we are talking BTC/USD pair here.. and I understand that some exchanges might not even be offering USD as part of their trading pairs.. so some form of pegged coin might be the closest that you are able to reasonably get... so I am not trying to be overly harsh about your keeping the value in some kind of stable coin product because the main point that you made was that you were getting completely out of BTC.. so sure, I was probably a bit wordy in my response... what else is new?
Of course, it's NOT the "major" place where I've diversified my portfolio. However, it consists of all the funds that I may use within the crypto space in the future in the scenario of a flash crash. A USDC/DAI pool earns bucks for me whenever someone swaps DAI for USDC or USDC for DAI on Uniswap. P.S. it currently costs about $500 to get your funds out of it or to get your funds in it.
Ok... I may have even invited you in terms of going into that, so I am not going to poo-poo you about those aspects of what you are doing regarding those USD pegged coins because I do believe that your main points do happen to be that you believe that BTC had already topped out, at least in the short term.. maybe even a year or more.. but surely even you are not necessarily going that far in terms of just wanting to watch the 200-week moving average in terms of a bottom that you expect to be reached at some point while you might still be profitable to get back into your BTC long, perhaps?
By the way, I did already attempt to express my current concerns about theories that suggest that we already topped out, in my response to Richy_T from about an hour ago.. so I do feel like I am starting to repeat myself, too.