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Who had that Bitcoin target price prediction?

R

r32

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lruc said:
The Titan crash didn t turn your head R
Click to expand...
No.

1. Seen many 'Bitconnnnnnnnnnnect' coins go to zero before. Titan is probably the 3000th coin to go to zero. It's part of the risk of this game.

2. I rarely invest in those rando swap coins like TITAN, although I've thrown $100 at some in the past. It's worth the gamble for me if they go big. And I'll cut my losses on those at 50%, so I'm out a whopping $50. A good risk/reward for me. There are a few like DOGE and SHIBE that will end up going wild, but it's rare these days. 99.9% of the time I stick with coins available on three major exchanges in the US, Coinbase pro, Kraken, and Binance.US. Gemini is legit too, but I hate their interface.

3. Stated many times that I'm mostly a day trader, although occasionally I'll swing trade. So I'm in/out of coins within the day, mostly. I like to remind people of that, so they don't randomly buy whatever coin I might mention. I want people to know my trading strategy is a lot different than theirs. I look for very small gains and gtfo.

Sidebar

MicroStrategy said the average purchase price of its 105,085 bitcoin (!) trove is $26,080 apiece
 
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obpmem

Mar 19, 2013
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r32 said:
Getting ready to move 2/3 my stack from stocks back into crypto.

Here is the weekly chart I posted Jun 8. So far it's gone as predicted. Unfortunate for hodlers unless you have more money to buy the incoming bottom to significantly lower your average. Will be interesting to see where BTC levels out before accumulation begins again.



Looking for the drop to accelerate into the 20's, soon as we break the pink line. Hang on tight. This is about to get wild.

View attachment 111623
Click to expand...
Do you have a number that you are looking at to get your 2/3 back in?
 
R

r32

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obpmem said:
Do you have a number that you are looking at to get your 2/3 back in?
Click to expand...
Watching two potential buy zones (gray areas on this chart)

19.9 to 16.2

and

13.8 to 12.3

This is no guarantee I will buy either of these zones. As always, things can change in an instant. If I don't like what I see as price approaches the first zone, I may not buy. Or, BTC might find support somewhere above 19.9k, in which case I might hop in earlier. Market outlook can change hourly. This is the wild west of finance.

Also, I only trade ALTs. I don't trade BTC but BTC determines when I trade ALTs.
 
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bird.LA

bird.LA

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r32 said:
Unfortunate for hodlers unless you have more money to buy the incoming bottom to significantly lower your average.
Click to expand...
Are there that many hodlers outside of Saylor and Elon who'll have a shot at lowering their average in the upcoming months/year? Talk about handling this thing wrong... woof.
 
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lruc

OTF status
Nov 10, 2016
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The Tsla chart looks rather ominous from a bullish view. The share holders may not be too delighted on that venture . Tsla does have potential to print at 200, at that price it will have a market cap of 200 billion.
 
R

r32

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bird.LA said:
Are there that many hodlers outside of Saylor and Elon who'll have a shot at lowering their average in the upcoming months/year? Talk about handling this thing wrong... woof.
Click to expand...
Any time you hodl and buy more at a lower cost, you're lowering your average buy cost. Example

Buy 1 share/coin at $100
Price drops to $50
Buy 1 share/coin at $50

Your break even is now $75 instead of $100.

Imho, second biggest mistake inexperienced investors make is getting stuck at the top and not putting more money in at the bottom. The psychology of putting more money into a game they are already under does not compute in their brain. Once you get over this psychological hurdle, you begin to see things clearer.

Then the question becomes how to identify a bottom. This is really difficult to do, and many would say, mostly impossible, which I agree with. This is where the idea of Dollar Cost Averaging (DCA) comes into play. Since identifying the bottom is so difficult, it makes much more sense to start buying at some point you think will be the bottom. But only with a small amount of your play money. If it drops another 20%, buy a little more. Another 20%, buy a little more, etc. Eventually it will bounce and your most recent buy will be in profit already.

Imho, the biggest mistake inexperienced investors make is they go all-in or go too big on their bets and fail to protect their account at all costs. Pretty much the number 2 rule in any investment/trading book is to protect your account at all costs. But we are living in the age of YOLO. This is why so many hodlers don't have money to buy the bottom, because they've already spent it all and are now stuck at the top. Again, a proper DCA strategy would alleviate this problem.
 
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bird.LA

bird.LA

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Jul 14, 2002
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LA
r32 said:
Any time you hodl and buy more at a lower cost, you're lowering your average buy cost. Example

Buy 1 share/coin at $100
Price drops to $50
Buy 1 share/coin at $50

Your break even is now $75 instead of $100.

Imho, second biggest mistake inexperienced investors make is getting stuck at the top and not putting more money in at the bottom. The psychology of putting more money into a game they are already under does not compute in their brain. Once you get over this psychological hurdle, you begin to see things clearer.

Then the question becomes how to identify a bottom. This is really difficult to do, and many would say, mostly impossible, which I agree with. This is where the idea of Dollar Cost Averaging (DCA) comes into play. Since identifying the bottom is so difficult, it makes much more sense to start buying at some point you think will be the bottom. But only with a small amount of your play money. If it drops another 20%, buy a little more. Another 20%, buy a little more, etc. Eventually it will bounce and your most recent buy will be in profit already.

Imho, the biggest mistake inexperienced investors make is they go all-in or go too big on their bets and fail to protect their account at all costs. Pretty much the number 2 rule in any investment/trading book is to protect your account at all costs. But we are living in the age of YOLO. This is why so many hodlers don't have money to buy the bottom, because they've already spent it all and are now stuck at the top. Again, a proper DCA strategy would alleviate this problem.
Click to expand...
I get that, I'm just surprised there'd be that many hodlers with an average buy cost in the 5 digit range. I guess there were a ton of new buyers that didn't get in this time until after we'd cleared the 2017 ATH? Hence my post about handling it wrong... woof.
 
R

r32

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racer1 said:
I see A LOT of people talking about the 25K bottom.

Makes me think 25K is not the bottom.
Click to expand...
This past week, I've seen 10k talked about for the first time. Sentiment is scraping bottom, fear index sitting extreme again. This pullback is already crushing souls and we might have a ways to go.

alternative.me

Crypto Fear & Greed Index - Bitcoin Sentiment

The crypto fear & greed index of alternative.me provides an easy overview of the current sentiment of the Bitcoin / crypto market at a glance.
alternative.me alternative.me
 
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hammies

hammies

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SurfFuerteventura said:
ahem, ZERO is, and always will be, the BOTTOM!
Click to expand...
For something that has no underlying asset value like cryptocurrency - yes, this is true.
For something that has some assets that retain value (patents, buildings, IP, etc.) like shares of a company, this is not the case.
 
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lruc

OTF status
Nov 10, 2016
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R , I brokered govy s for 20 years and managed private money the last 20 , this may be an epic meltdown. Considering the leverage in the system , paying accounts interest for interest swaps against performance of bitcoin, add in that unregulated part , it may be a true nightmare for the kool aide crew.
 
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lruc

OTF status
Nov 10, 2016
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rofl Racer , that may be another great short inmo. That wave you had in Indo was unreal sir.
 
R

r32

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Apr 1, 2005
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Give it time to load. Watch the big BTC players in action, from across the world.

AGGR

Cryptocurrency market trades aggregator
v3.aggr.trade v3.aggr.trade
 
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