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Who had that Bitcoin target price prediction?

LifeOnMars

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,106
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brukuns said:
What do you guys think might be a good entry point for Luna...

It was under 70 just now... it's been such an upward trend that it seems it will never go near low 60s again. :roflmao:
This is also the exact line of thought that has been putting me in the red, soooo... Not doing anything for now.
Click to expand...
no more bear markets, stonks only go up
 
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bird.LA

bird.LA

Rabbitt Bartholomew status
Jul 14, 2002
8,122
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LA
I'm thinking the best time to buy LUNA is after the next SOL & AVAX pumps... whether that's next month or 4 years from now idk lol
 
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brukuns

brukuns

Kelly Slater status
Mar 5, 2014
9,953
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Sao Paulo/Brazil
bird.LA said:
I'm thinking the best time to buy LUNA is after the next SOL & AVAX pumps... whether that's next month or 4 years from now idk lol
Click to expand...
About that... I probably have to apologize to you guys. I bought Avax a while ago, this is the reason it's stuck under 85. Let me know if it's really important for you guys that it pumps, I can sell it to help out (that's 100% what triggers the pump). Got myself some Sol too so there's that. again, I'm truly sorry.
 
Subway

Subway

Administrator
Staff member
Dec 31, 2008
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LBNY
So, I haven’t sold on any of these downturns, nor bought the dips either though. I put a mental Cap on what I was going to play around with, I made some money, but I’m at that limit, so, I’m not putting any more cash into crypto. Do we think some of this broad downturn is partly because of people selling to cover tax bills like r32 referred to? Or just typical crypto chaos? Or am I soon to be out 5k?

edit after the little bounce, I’m only down about a grand, but, if the major alts keep plunging, the last 5 could be toast too.

to be fair, much of the cash in my portfolio was cash made through gains earlier in the year, so even with this downturn I may still very well have made at least a few sheckels. I’m doing the loss/gain app y’all were talking about
 
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R

r32

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Apr 1, 2005
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Subway said:
So, I haven’t sold on any of these downturns, nor bought the dips either though. I put a mental Cap on what I was going to play around with, I made some money, but I’m at that limit, so, I’m not putting any more cash into crypto. Do we think some of this broad downturn is partly because of people selling to cover tax bills like r32 referred to? Or just typical crypto chaos? Or am I soon to be out 5k?

Edit after the little bounce, I’m only down about a grand, but, if the major alts keep plunging, the last 5 could be toast too.

to be fair, much of the cash in my portfolio was cash made through gains earlier in the year, so even with this downturn I may still very well have made at least a few sheckels. I’m doing the loss/gain app y’all were talking about
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Imho, typical chaos.

Some institution probably exited the market entirely. Or, more likely, too many leveraged longs open on Binance, Bitfinex and others, and the exchanges decided to liquidate them all. At some point during the selloff the bots took over and we got a massive long squeeze on that last big push down as some big players got liquidated. People forget exchanges can trade too, both on their own exchange and on many trade on other exchanges as well. And the big ones have more cash on hand than most of their institutional clients.

Compare the current 1h liquidations.

Current 1h: $2m
On the night of the big drop: $2b

www.coinglass.com

Bitcoin Liquidations, Cryptocurrency Liquidations, Real-Time Liquidation Heatmap, Binance Liquidations | CoinGlass

Cryptocurrency liquidation heatmap, total Bitcoin and cryptocurrency liquidation charts, check liquidations for Binance, Bitmex, OKX, Bybit, and exchange liquidations. We provide real-time data for Bitcoin liquidations and exchange liquidations, as well as historical data and charts for...
www.coinglass.com www.coinglass.com

Been my experience the tax exit happens a lot slower over a spread out period of time between early Jan and whenever tax day is.

@Chee-to thoughts on AUCTION? Total supply is 2m right now which is stupidly low. Might be lowest volume coin on CB Pro. > $200k traded hourly so liquidity is virtually zero until a spike.

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coinmarketcap.com

Bounce Token price today, AUCTION to USD live price, marketcap and chart | CoinMarketCap

The live Bounce Token price today is $5.35 USD with a 24-hour trading volume of $21,531,935.49 USD. We update our AUCTION to USD price in real-time.
coinmarketcap.com coinmarketcap.com
 
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C

Chee-to

Michael Peterson status
Jan 11, 2002
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r32 said:
@Chee-to thoughts on AUCTION? Total supply is 2m right now which is stupidly low. Might be lowest volume coin on CB Pro. > $200k traded hourly so liquidity is virtually zero until a spike.
Click to expand...
This is the first time I've heard of it. Project sounds stupid but I'm sure it has some liquidity-related price spikes possible.
 
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r32

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Apr 1, 2005
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Chee-to said:
This is the first time I've heard of it. Project sounds stupid but I'm sure it has some liquidity-related price spikes possible.
Click to expand...
Saw it was listed on Cb not too long ago but never looked at it until tonight. The super low supply caught my attention, but there is almost no info on it, anywhere. Very few news articles. Nobody talking about it on social. Nobody talking about it anywhere. Basically unknown. But the zero liquidity makes it a no trade for me.
 
C

Chee-to

Michael Peterson status
Jan 11, 2002
2,428
975
113
r32 said:
Saw it was listed on Cb not too long ago but never looked at it until tonight. The super low supply caught my attention, but there is almost no info on it, anywhere. Very few news articles. Nobody talking about it on social. Nobody talking about it anywhere. Basically unknown. But the zero liquidity makes it a no trade for me.
Click to expand...
The zero liquidity is what would interest me in a short-term liquidity squeeze trade.
 
Subway

Subway

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Dec 31, 2008
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So I used that app and got my free summary year to date. Remember how I vaguely guessed I made maybe 5-8k? I’ve made 7800 this far. So big nannygubmint is gonna get that 1099 just like me, in January. After the losses the last week (I think I’m down like a grand? Should I liquidate my portfolio, take a few modest losses while I’m still up on the year, my checking balance will jump up nicely right before the holidays, some of those losses will offset my gains, and then I’ll just start fresh next year. I mean, even my beloved fetch has fallen all the way back to my original entry point all those months ago. I actually may cut my gains YTD in half if I liquidate; but I’ll still have that cash, stop the hemorrhaging; and have a much smaller tax bill

thoughts? Maybe jump back in the game on some of those tax dips this winter?

edit: orHODL and watch the holiday bull run? Is that a thing? I feel like cashing out is almost like day trading, except annualized instead of liquidating daily, if that makes sense at all
Edit again. Sold all but my fetch my Algorand and my crypto.com. Let’s go
 
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LifeOnMars

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,106
113
Subway said:
So I used that app and got my free summary year to date. Remember how I vaguely guessed I made maybe 5-8k? I’ve made 7800 this far. So big nannygubmint is gonna get that 1099 just like me, in January.
Click to expand...
pretty sure if you don't have more than 20k in proceeds and 200 transactions there's no need to worry, the exchange won't report your activity to the IRS. personally I wouldn't pay up unless they asked for it, you gotta make them work hard for the money. this is not financial advice and you should probably consult with a tax professional
 
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grapedrink

grapedrink

Duke status
May 21, 2011
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A Beach
LifeOnMars said:
pretty sure if you don't have more than 20k in proceeds and 200 transactions there's no need to worry, the exchange won't report your activity to the IRS. personally I wouldn't pay up unless they asked for it, you gotta make them work hard for the money. this is not financial advice and you should probably consult with a tax professional
Click to expand...
IIRC there is a line on the 1040 that says something along the lines of "Did you trade crypto this year: yes/no". Seems like a potentially costly lie if you get rolled :drowning:
 
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