So without referencing fiat price how will you decide it's a bear market?
As a fundamental investor what fundamentals do you look at to determine crypto value?
I'll take a look at your thread.
Bitcoin Plummeting 11% to $37,980
- Thread starter RedSun
- Start date
As a fundamental investor what fundamentals do you look at to determine crypto value?
I'll take a look at your thread.
1 btc = 1 btc
Many Bitcoin OG's have said this since 2013 when I first got into cryptos
The reason I said don't reference fiat price is to take away the focus on fiat as a deciding factor if I liquidate my portfolio except 10 btc
Which is your first and primary focus, fiat price as the deciding factor
My decision to liquidate is not about fiat price
Let's say I liquidate the portfolio at $30K/btc or $20K/btc or $10K/btc, it is because I am convinced I can get more cryptos when I start to DCA when btc is at $5K and lower
Of course I can be wrong in the timing both on the selling and on the buying. As you can see on Scat's thread, it was 1.5 more years of bear market but price was practically the same for btc
That is why FOLM is incorrect. It's fixated on fiat price
I'm fixated on cryptos and how I can increase my cryptos
If you still do not see it, this is the 4th reply on this topic, I'll have to give up. check our previous posts, back and forth in circles because all you see is fiat
I do have fiat already in my portfolio so it's something I've mentioned a few times
FOLM is for you, but it is not for me
So, basically it's like someone who always wants to keep some cash in reserve to have it, the potentially old adage "cash is king". You would never be caught with zero cash because that could at best make you miss out on an opportunity at worst potentially cause you serious issues if of all your cash was tied up into other things.
From this perspective BTC is your cash, so no matter what that is your core "cash" position, but again for you BTC is king and you don't want to be caught without a core position, for the same reasons explained in first paragraph / same reason others don't / didn't want to be caught without any cash.
This is the same thing I am understanding what you're saying. Is this pretty much correct?
Funny, I also joined Bitcointalk in 2013 and still post there.
1 BTC = 1 BTC happens only during crashes. Otherwise you will see toxic bitcoin salesman touting how much it is worth in USD (which is also a fraud metric) and it ranges from Saylor, Winklevoss thugs and all the prominent social media influencers.
The correct valuation of 1 BTC is the amount of Tethers needed to purchase it, since all the decentralization aspect is gone as the miners are being kicked around the world. You can't meaningfully mine it at home since about 2012 (But this was predicted and known by the earliest Bitcoiners as discussed in the mailing list before launch). A criminal company prints the Tethers which is then flooded across the scam exchanges to fuel price manipulation.
Tether is the Fed equivalent of printing funny money. Fed prints to dictate worldwide markets and cripples or remedies them. Tether prints to prop up the BTC value and absorb dumps.
Losing 50% of something when the inflation is 6-7% is one of the most laughable things I have ever seen and no Bitcoiner talks this stupid.
The most recent application for BTC ETF was rejected for these exact reasons earlier this week.
Also 1 BTC != 1 BTC. It is the original Non Fungible Token.
https://sethforprivacy.com/posts/fungibility-graveyard/
1 BTC = 1 BTC happens only during crashes. Otherwise you will see toxic bitcoin salesman touting how much it is worth in USD (which is also a fraud metric) and it ranges from Saylor, Winklevoss thugs and all the prominent social media influencers.
The correct valuation of 1 BTC is the amount of Tethers needed to purchase it, since all the decentralization aspect is gone as the miners are being kicked around the world. You can't meaningfully mine it at home since about 2012 (But this was predicted and known by the earliest Bitcoiners as discussed in the mailing list before launch). A criminal company prints the Tethers which is then flooded across the scam exchanges to fuel price manipulation.
Tether is the Fed equivalent of printing funny money. Fed prints to dictate worldwide markets and cripples or remedies them. Tether prints to prop up the BTC value and absorb dumps.
Losing 50% of something when the inflation is 6-7% is one of the most laughable things I have ever seen and no Bitcoiner talks this stupid.
The most recent application for BTC ETF was rejected for these exact reasons earlier this week.
Also 1 BTC != 1 BTC. It is the original Non Fungible Token.
https://sethforprivacy.com/posts/fungibility-graveyard/
BTC is savings account, fiat (USD) is checking account - Greg Foss has mentioned this a few times
Right now, I have fiat for living expenses
Liquidating crypto portfolio (except 10 btc) is because I think I can get more cryptos later
So the goal is to increase savings account, but with any moves, there's risks and could make a mistake and get less cryptos in the future
I got it John. You want to accumulate as much crypto as possible.
Could you address when you think we will be in a bear market? Is the drop from 67k to todays price not enough? At what point will you consider it a bear market.
Once you decide that we are in a bear market, what is your process from that point on?
Based on the past 2 bear market cycles (2014-2016 and 2018-2019), the lack of money coming into the space caused the bear markets in cryptos
Last year, around May 2021, bitcoin crashed and lost over 50% of value from $64K to $28K and stayed in the $30K for months
That was not a bear market, I purchased more cryptos and bitcoins
I decided it was not a bear market because macro factors were still strong. Institutions were still buying during the times that btc was stuck in the $30K. Lots of activities in the cryptos space. Lots of projects still going up even though btc was going down. NFT's was booming
Things are a bit different at this time. and the Fed money printer is not at full blast. Rate hikes, Quantitative Tightening. You know... things that are also affecting the bull market in the stock market
If it's a bear market, as I said, liquidate and keep 10 btc's
I'll chill for a few months, maybe a year, just watching all the crypto projects and builders
This is the time generational wealth in cryptos are created. Imagine picking up Solana at less than 50 cents or Fantom at a penny and selling Solana for over $200 each and Fantom at over $3.50 each
Imagine putting $10-20K or even $50-100K
There were many others, but you get the point
Chill, relax, pay attention during a bear market. Start to nibble
Enjoy life (as much as possible in a pandemic bear market)
What are Bitcoin's fundamentals?
This is a very good book that will provide you with the information on the fundamentals and value of Bitcoin