Quote from: TheKoziTwo on Today at 11:12:32 PM

Quote from: yefi on January 01, 2021, 11:20:31 PM

Quote from: TheKoziTwo on July 04, 2019, 03:41:32 PM

Quote from: iCEBREAKER on July 04, 2019, 04:29:20 AM

Not sure. Was the 20k Polo buy whale dumped into? If so, that's pretty capitulatey... Undecided

It was indeed. And I am now 26.6k XMR richer.

This is the lowest btc ratio since 2016. I'm seeing a lot of comments these days about how "it's different this time". No, it's not different. The smart money knows this and is picking up altcoins now and going forward from people who believe such thing. There will be a new rally for altcoins once again and it will catch a lot of people by surprise.

Monero has had tremendous technological progression and adoption over the last few years. "but fundamentals". None of that matters here. The main reason for this price drop was obviously the bear market and bitcoins recovery, however, something unexpected occurred after breaking 0.01 and that was massive margin liquidations. People who believe so strongly in monero that they'd leveraged up beyond reason were sadly getting crushed. The price went far lower than they expected and they were forced to let their coins go at the worst possible time. I think we may be in, or entering capitulation at this stage.

When the price was far higher I estimated a "worst-case" target to be ~0.007. Therefore I started buying at ~0.01 and decided to go in quite significantly around these levels we are now. I don't try to time exact bottoms, that is a fool's game and impossible at the scale I operate on anyway. There is still a risk that a continued bitcoin rally could put further pressure on altcoins. But what we're seeing here is unprecedented and the upside is now far greater. So from a risk/reward perspective, while the price could drop fruther, I think betting on further downside now is a bet with very high risk of missing out. If I've learned anything from more than half a decade trading alts, it's that when the market turns, it turns quickly. If I'm not positioned by then, I won't have time to.

There is something different this time though. I've always been a bitcoin holder. That is, I hold majority of my funds in bitcoin, rarely going below 70%. Not this time. I have decided to follow my own altcoin prediction to the fullest and increase my altcoin share significantly. In fact, I am, as of today more than 80% in altcoins and ready to increase that further. Monero just became my second largest holding. I haven't owned this much monero since during the xmrbtc rally in 2016.

Exciting times ahead. Or horrible misery Cheesy

I'm interested, you still holding?

Yes, did not sell a single monero since that post. And no plans of selling anytime soon. Historically Q1 is when altcoins pump, and this price drop seems like a huge overreaction to me. I'll admit it went further down than I expected, but I'm not too concerned. I imagine there will be support at 0.0042 which is the previous double top.

Oh and I have now increased my allocation to 100% altcoins. Most of that ETH, and XMR second largest holding.

Based chad TKT Grin

megadeth

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