Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by Paashaas (1)
New gadget
Never trust a Dudd... with chains on his hands.
He always needs to be "El_Naturrel" with all organic products on his hands, like: leather.
Just don't trust him!!!
Yeah... right..
We should trust save the rf.. because he uses emphasis in his postenings.
Looks more like a wish than some kind of BTC price dynamic that could actually play out.
I would not put more than 3% preparation into a scenario that has only about 3% chance of happening.
By the way, I could foresee some kind of scenario of getting stuck at $288k after a 30% to 50% (or more) BTC price correction.. in other words, BTC would likely need to go into some kind of a $420k to $600k and then correct back down to $288k before being even close to any kind of feasible speculation of getting stuck in that kind of a $288k price area..
It just ceases to amaze me how fantasy thinking perpetuates so many people into imagining that bitcoin is all of a sudden going to become "stable" .. are people fucking retarded? or just do not have any clue about the immaturity of this asset class? Immature asset classes do not just stabilize without either passage of time or significant and meaningful adoption that causes them to stabilize because they become BIG.. like not just baby BIG.. but BIG in a kind of meaningful sense.. .. I used to contemplate that maybe the size of gold's market cap would be BIG, but that is ONLY 10x from here.. so seems getting 10x or even 100x of gold might start to cause some rationale for the idea that bitcoin is starting to get sufficiently BIG to kind of start to stabilize..
... just admit it, you're fiat bull! ... and worse than that you have tasted the freedom of bitcoin and gone back to the debt-slavery chains of your fiat masters, how depraved is that?
Yes, I'm a USD bull, probably till the end-2022 or so. I believe we're in a total bubble right now (real estate, stocks, etc.), and Fed is going to be forced to pop this bubble soon.
Some do drink the mindrust cool-aid some don’t
I just have my side to be on…..
Not much more to say only to suggest picking the right side (the one where you have BTC in possession)
I just have my side to be on…..
Not much more to say only to suggest picking the right side (the one where you have BTC in possession)
I don't know mate. Mindrust sold at an awful price and in panic, while I sold at my target (and it was $1 trillion+ market cap for BTC).
Just to now…. Yeah mindrust was at 3800 ish I think, where did you sold?
But apart of the selling, you mentioned a low 20 price to buy back in if I remember not ?
So just what’s gonna be your play or just what are you gonna do?
I sold at about $55k. To be exact, it was the day when Ethereum reached over $4k. Bitcoin at $1T marketcap, Ethereum over $4k, all friends & neighbors into crypto, Tether printing billions in hours, and even my portfolio at an unimaginable value. It seemed unreal so I made my decision.
About buying back, I've said it before a few times and will say it again, as soon as 200-week moving average is touched:
https://www.lookintobitcoin.com/charts/200-week-moving-average-heatmap/
I think this is a very sensible approach. The risk you are taking is simple to see, and easy to hedge. You are discounting the black swan. That the 200DMA will be higher than your sell point when it touches would be one way to express it. The hedge is just to leave a portion in BTC. But i am talking about what I would do rather than what you want.
Raja is referring to the 200 week moving average .. not the 200 day moving average.. which is quite a BIG ass difference and a BIG ass gamble.
Furthermore, if we can actually believe someone who is actually supposedly experienced in bitcoin would be so dumb, Raja seems to be committing one of the BIGGEST errors that could cause any coiner to become a no coiner... and that is failure/refusal to prepare for either (or both) BTC price directions, even if he is committed in his belief (assuming again that he is actually being genuine in his representations).
The ONLY thing that might be saving him somewhat, is that he does not seem to be using leverage... but even without leverage, there could be some prudence in selling a reasonable portion of your bitcoin out of such a bet, maybe even 50% or more. and sure I have difficulties relating to those higher numbers, and of course, people are going to come to differing conclusions.. including what many of us consider a kind of cardinal sin in going 100% into fiat (meaning getting completely out of bitcoin) (I also am not too thrilled about anyone 100% in bitcoin either, given our current fiat denominated world and other kinds of ways to hold value.. in which it seems to me that a decent amount of additional power can come from having and maintaining options. that means more than one option.. and I am not referring to any kind of need to have/maintain shitcoins, here)...