Baron's Crypto Trading Journal

[johnarb]

I predict that a $300k house will cost less than 1 bitcoin in 2016

https://twitter.com/x/status/1678517876238475266

 

[The_Krakenite]

The problem with the zeros, in Canada a house will be $3,000,000 by 2026

Thanks, Trudeau!

 

[SunTrader]

First bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC

https://www.cnbc.com/2023/08/29/fir...urt-rules-in-favor-of-grayscale-over-sec.html

 

[Buy1Sell2]

Should this break 30k and develop support there, I can see 100k in the offing within 2 years.

Baron, we are now making another move above 30k. I stand by what I said earlier here, which is if we can develop support here above 30k, then 100k is in the near future. Looking good for your crypto trades.

 

[Frederick Foresight]

Baron, we are now making another move above 30k. I stand by what I said earlier here, which is if we can develop support here above 30k, then 100k is in the near future. Looking good for your crypto trades.

Really? You're a crypto bro? It all makes sense now.

 

[Baron]

Baron, we are now making another move above 30k. I stand by what I said earlier here, which is if we can develop support here above 30k, then 100k is in the near future. Looking good for your crypto trades.

I agree. Things are really shaping up from a variety of angles. We've got BTC Spot ETFs on the horizon for sure. The BTC halving event is coming up in April. And the recent stability in the 20k's has given new confidence to the TA crowd and the longer term hodlers.

 

[Frederick Foresight]

...the recent stability in the 20k's has given new confidence to the TA crowd and the longer term hodlers.

Since the market and its volume is dominated by relatively few whales who can easily manipulate it, based on both their size and with the use of wash sales afforded to them, how does this give you any comfort?

 

[Baron]

Since the market and its volume is dominated by relatively few whales who can easily manipulate it,

That same excuse can be said about every market in existence. Even in the world of U.S. equities, regardless of what stock you hold there will always be massive shareholders who's actions could have a dramatic price impact.

 

[Frederick Foresight]

That same excuse can be said about every market in existence. Even in the world of U.S. equities, regardless of what stock you hold there will always be massive shareholders who's actions could have a dramatic impact.

I don't think there's quite the same level of concentration. And even there were, the wash sale rule does not apply to crypto, and I think that can be a pretty big deal. I could be mistaken, so please correct me if I'm wrong.

 

[Baron]

I don't think there's quite the same level of concentration. And even there were, the wash sale rule does not apply to crypto, and I think that can be a pretty big deal. I could be mistaken, so please correct me if I'm wrong.

The point of a wash sale is to capture losses for tax purposes and then repurchase that same amount again for future gain. So any short-term downside by a big seller would be eventually offset by the short-term upward price movement caused by the repurchase, so it balances back out. Therefore, the wash sale impact is not really something that's a major factor in my decisions.