Bitcoin "Freefall"

So what was everyone saying about Bitcoin going to 30K?? Or even 20K??

Well I don't see any of that happening. In fact I see the complete opposite. Bitcoin has bounced off 40K support and is now moving up just like I said it would.

Don't ever bet against Bitcoin or you will fail.

Don't ever let fear take your Bitcoin
 
Tokenz said:
Don't ever let fear take your Bitcoin
More...

Fear is linked with understanding risk. As long as you don't understand risk you will never fear anything. The smarter you are, the better you understand risk. That's problematic for many crypto lovers.
Some people only understand risk after they lose everything. But that's too late as then the damage has already been done. So for many crypto lovers not letting fear take their coins will have the opposite result.

A successful trader/investor always has a healthy portion of fear. That's how he survives when things don't go as expected.
 
part of what we're seeing today is shorts covering or being liquidated. almost $80M liquidated in the last 12 hours according to coinglass (85% short). i'm expecting to see this number rise dramatically if the rally continues. that's the thing about crypto- for every 10x leveraged bull, there's a 10x leveraged bear.
 
Kim Kardashian and Floyd Mayweather Jr. were sued for allegedly scamming investors in a cryptocurrency called EthereumMax.

The reality television star and ex-boxing champion were paid to hype the blockchain-based digital tokens to their fans, “causing investors to purchase these losing investments at inflated prices,” according to the complaint filed in Los Angeles federal court. Former Boston Celtic Paul Pierce was also named as a defendant in the suit.

According to crypto pumpers you can do nothing wrong with buying. They can only go higher.

Reality seems to be different...
 
virtusa said:
Fear is linked with understanding risk. As long as you don't understand risk you will never fear anything. The smarter you are, the better you understand risk. That's problematic for many crypto lovers.
Some people only understand risk after they lose everything. But that's too late as then the damage has already been done. So for many crypto lovers not letting fear take their coins will have the opposite result.

A successful trader/investor always has a healthy portion of fear. That's how he survives when things don't go as expected.
More...

Nah dude, fear is never healthy.

You need to learn to control your emotions when trading so there are no emotions. I honestly do not care if the chart goes up or down, because I am in this for the long haul. And in the end I believe it will succeed. So for me it's all or nothing because I am putting my money into something I believe in. I am not some emotional little B**** that gets scared or happy like he is riding a rollercoaster. And if I lose everything I will have lost pennies from the start, and if I win it can be well over 100x. That's how much of a risk reward I am dealing with right now. Nothing the market does has any effect on me because I know I am dealing with pennies. I even short every once in a while to increase holdings, but I do it without fear.
 
Last edited:
unconventional wisdom said:
part of what we're seeing today is shorts covering or being liquidated. almost $80M liquidated in the last 12 hours according to coinglass (85% short). i'm expecting to see this number rise dramatically if the rally continues. that's the thing about crypto- for every 10x leveraged bull, there's a 10x leveraged bear.
More...
How do you short bitcoin? Is it possible to borrow from crypto dealers?
 
Tokenz said:
if I win it can be well over 100x.
More...

If you invest pennies, even if they do well over 100 times, it still is small money.

You sound like a macho, who for me is someone with below average intelligence, and who likes to get drunk every weekend. A few tattoo's and bodybuilding would complete the picture. Muscles should compensate for brain shortage.
 
i feel like this thread is missing the bigger picture. imho the big question is not will x coin hit xxxx target- it's, should a balanced portfolio include some % of crypto. a year ago i was adamant it's all tulips, and i feel like an idiot - it was right there the whole time and i didn't take the time to learn about it, but that's a tangent. Around July 2021, to remain open minded, I decided i should try to mint an NFT. For my education I invested $1000 and minted an NFT and my understanding and opinion of "crypto" forever changed. Seriously, $1000 = a masters class in crypto and blockchain if used wisely. i came to the conclusion that a 5% allocation split into BTC, ETH, and 8 new smart-chains is a smart decision.
 
Tokenz said:
Don't ever bet against Bitcoin or you will fail.
More...

All buyers want to get rich, but reality is different.
The holders lost huge amounts. So betting with Bitcoin can make you fail too.

https://www.newsbtc.com/news/bitcoi...rt-term-holders-realizing-significant-losses/

About the SOPR chart in the article:
The Bitcoin SOPR Indicator
The BTC Spent Output Profit Ratio (or SOPR in short) is an on-chain indicator that estimates whether investors are selling at a profit or a loss.

When the metric’s value is above one, it means coins that were moved during the period were sold, on an average, at a profit.

While SOPR values less than one imply the overall market has been selling at a loss during the particular timescale.

If the indicator starts trending up, it could mean holders are now realizing their profits and a correction could soon be coming.

On the other hand, a downwards trend implies sellers are moving their coins at a loss, and holders with profitable coins may be sitting on to them in hopes of further price appreciation.

https://tokenhell.com/traders-experience-huge-losses-as-bitcoin-drops-6000-in-24-hours/
 
You must log in or register to reply here.
Back
Top