Bitcoin has topped.

[johnarb]

I know no one cares, but I have not sold near half of my crypto portfolio

I'm still hodling most our net worth in cryptos and hoping to stop selling which will happen when btc stops crashing

Don't want to give the impression that I'm no longer a crypto believer and liquidating as fast as I can. I sell a specific amount of cryptos when btc hits certain price levels on the downside

 

[Baron]

Look, we can all speculate about the near-term price and we may all have differing opinions about that issue. But just like a casino makes money from the sheer mathematics of the gambling business, BTC as a long-term hold is nothing but money in my opinion.

If you want to use TA as your primary predictor of price, that's wonderful and all, but as Jim Simons said, the founder of Renaissance Technologies, "TA was once useful, but has now become quite vestigial." And by that, he just simply meant that TA once had more significance in the 1970's but as more and more data points have become available, using TA as a primary indicator has lost its value over time. There are simply other correlations that have a more profound impact on the future price of an asset, and that's what he based the future of his hedge fund on, which so happens to be one of the most successful funds in history.

So with that said, the price of BTC will ebb and flow, but you'll see that over time the mathematics will reign supreme. Limited supply + government mismanagement of fiat currency will create historic levels of wealth in BTC in the near future.

 

[virtusa]

no excuses for being a rude bastard

Am I a rude bastard???
I did not call Baron any name.

Just mentioned facts:

• Baron went against the people who called the top. Is that rude? It is a fact.
  
• TraderCurt and Johnarb did sell. Is that rude? It is a fact.
  
• Averaging down wiped out many accounts in past. Is that rude? It is a fact.
  
• Catching a falling knife too. Is that rude? It is a fact.
  
• So the next drop will be great news again? Is that rude? He is happy when prices go down.

If that's rude then Baron's post is rude too.

You should read the posts from Destriero.

 

[Master Pu]

Look, we can all speculate about the near-term price and we may all have differing opinions about that issue. But just like a casino makes money from the sheer mathematics of the gambling business, BTC as a long-term hold is nothing but money in my opinion.

If you want to use TA as your primary predictor of price, that's wonderful and all, but as Jim Simons said, the founder of Renaissance Technologies, "TA was once useful, but has now become quite vestigial." And by that, he just simply meant that TA once had more significance in the 1970's but as more and more data points have become available, using TA as a primary indicator has lost its value over time. There are simply other correlations that have a more profound impact on the future price of an asset, and that's what he based the future of his hedge fund on, which so happens to be one of the most successful funds in history.

So with that said, the price of BTC will ebb and flow, but you'll see that over time the mathematics will reign supreme. Limited supply + government mismanagement of fiat currency will create historic levels of wealth in BTC in the near future.

That's great. But your website is called Elite Trader, I don't see investor there, so my call based on outdated TA & OK my views concerning BTC at present, was gunning for a shorter term outcome.

 

[Master Pu]

Am I a rude bastard???
I did not call Baron any name.

Just mentioned facts:

• Baron went against the people who called the top. Is that rude? It is a fact.
  
• TraderCurt and Johnarb did sell. Is that rude? It is a fact.
  
• Averaging down wiped out many accounts in past. Is that rude? It is a fact.
  
• Catching a falling knife too. Is that rude? It is a fact.
  
• So the next drop will be great news again? Is that rude? He is happy when prices go down.

If that's rude then Baron's post is rude too.

You should read the posts from Destriero.

Not you man, we all know who they are & they know who they are. Peace!

 

[virtusa]

There are simply other correlations that have a more profound impact on the future price of an asset, and that's what he based the future of his hedge fund on, which so happens to be one of the most successful funds in history.

Be careful, in a fast changing world it is often not good to follow advice from a grandfather. Buffett... Simons...

Did Renaissance buy BTC?
I don't use TA, I use mathematics. BTC went in the direction I was expecting, so what I use works fairly good.

 

[Baron]

That's great. But your website is called Elite Trader, I don't see investor there, so my call based on outdated TA & OK my views concerning BTC at present, was gunning for a shorter term outcome.

I understand. I do make a lot of shorter-term trades based on things that are more speculative. So for example, I bought Uniswap a month or so ago and I just didn't like how it was reacting on overall positive days in the crypto market so I swapped it out for Polygon Matic. That one has doubled for me this past month, so that was definitely a positive. I also own Cardano, Ethereum and some other ones.

 

[Master Pu]

I understand. I do make a lot of shorter-term trades based on things that are more speculative. So for example, I bought Uniswap a month or so ago and I just didn't like how it was reacting on overall positive days in the crypto market so I swapped it out for Polygon Matic. That one has doubled for me this past month, so that was definitely a positive. I also own Cardano, Ethereum and some other ones.

No Dogecoin? Now, I'm surprised.

 

[Baron]

No Dogecoin? Now, I'm surprised.

LOL, that one is a recipe for disaster. If Elon and God-knows-who wants to promote that, that's great for them, but the underlying math and usefulness of that particular instrument just isn't compelling for me.

 

[Baron]

Am I a rude bastard???
I did not call Baron any name.

Just mentioned facts:

• Baron went against the people who called the top. Is that rude? It is a fact.
  
• TraderCurt and Johnarb did sell. Is that rude? It is a fact.
  
• Averaging down wiped out many accounts in past. Is that rude? It is a fact.
  
• Catching a falling knife too. Is that rude? It is a fact.
  
• So the next drop will be great news again? Is that rude? He is happy when prices go down.

If that's rude then Baron's post is rude too.

You should read the posts from Destriero.

No offensive taken on my part. We all try to make the best decisions we can and we will all make different choices based upon our own outlook and risk tolerances over time. And we all take each other's outlook into consideration (even though we may not be swayed), otherwise we wouldn't be here on ET to begin with.