Im not sure what to make of it, Mashinsky is prob in Israel and hiding. Can just dump his load and crush the market. Also, the CelShortSqueeze effort is bound to turn on itself, cause people do need money, plus greed and all that.
Bitcoin has topped.
- Thread starter Master Pu
- Start date
I thought Mashinky got caught at the airport and now stuck in the US? I don't follow it much, I was watching the Simon Dixon bid for a takeover plan but nothing happening so haven't paid much attention lately
Anyway on CEL did not get the pull back to low $1 price range so I still have no position on CEL
fwiw, I think CEL is going to over $11 which still presents a 1000% ROI if I can get it at the price I want but not looking like it will go down that low
You keep speaking of the "cryptowinter". The only coin I look at with any interest is the BTC, and it has a solid floor at 20K. Would you not say that the winter is turning into a spring now? How are other coins fairing compared to BTC's solid 20K bottom? Are some faring worse than others and not finding a floor?
In Game of Thrones, the winter is always coming, and they never know it is already there. What say you John Snow, bastard of the North? Heh
Crypto winter = bear market. Bitcoin has found support at $20k but for 60 days it hasn't gone anywhere or gone above $30k or $40k
One bad statement from Uncle Jerome and who knows, btc could go below $20k
In a bull market, it's much easier. That's what we're waiting for. A crypto summer
I don't agree BTC will go that low. We've had the perfect storm (hurricane) hit with contagion liquidations LUNA/UST, 3AC, Celsius, Voyager, BlockFi, and a bunch of small crypto firms and exchanges with a backdrop of a stock market "mini crash" and everything crashing, and the lowest we got was $17k per BTC
Hard to rule out anything, though, if the Fed continues or accelerate the rate hikes (and the always announced QT that has not started), who knows, maybe with S&P 500 at 2500
It’s nothing more than opinions, hence he said he invested 1/6th his total allocation already.
It definitely is hard to rule anything out. On the one hand, you have so many people waiting for a 12k hit, the so called high volume node, and then you have have others waiting for a trendline hit at around 7k or 8k.
Then of course the max pain seems to be for those waiting for lower prices and never seeing them, and hence forced to chase.
Over the past few days though, as the market screams higher, bitcoin is certainly lagging, and the decoupling from the price of NQ is quite apparent.
For me (and many other hodlers), we focus on the long term play wrt BTC
Short term, btc could go down to $10k or lower, but within 5 years, it will be $500K/btc and before 2030, it will be $1M/btc
I posted a couple of videos on the Crypto Macro thread wherein 1 guy was all-in on bitcoin
Another video where Peter and the guest spoke of being "irresponsibly long" and feeling the pain of 75% hit on their net worth from Nov/2021
I'm close to being irresponsibly long but not really since I have cash for years of living expenses
- The key to being irresponsibly long is to not take on leverage that could wipe you out before btc price hits $500K/btc, $1M/btc or $10M/btc
If you do that, you can take these price volatility swings in stride
CEL hit a blowoff top of around $4.50 a few days ago then crashed 50%, I think low was around $2.20sh
It started bouncing up and I went ahead and put a position ~$2.4x and added more at $2.6x (today)
I don't think I can get the $1.x price I wanted, so will see how this plays out and will be watching the Twitter for some updates