I found it encouraging that BTC seems to not GAF what Elon Musk says or does. Its a sign of resiliency to me.
Bitcoin Price Thread
- Thread starter Magna
- Start date
Yeah right, the day of that tweet BTC went down $13,000.
Its a rather sign of surrender to me.
10 days later still over $8,000 down and cannot recover. We almost hit 34K again.
The big question is whether this is a correction or a downtrend, using standard criteria it's now a confirmed downtrend, yet many would disagree, but that's mostly comes from the longer term investors in BTC, but currently it is a downtrend.
Personal thoughts and plans
I bought a bitcoin today, but technically, it's the same bitcoin I sold a week and a half ago
I think the bull market is not over, so I'm gonna hold 13 btc's until eoy but if this downtrend turns out to be a multi-year bear market, I'll sell the 3 btc's and hold 10 till next bull market cycle in 2025 (hopefully)
I am holding some altcoins, the biggest 2 are Celsius (CEL) and Cake
I traded my Eth position to CEL and added a little bit more capital. Celsius has been strong during this downtrend
Cake provides daily income but I compound it so who knows if that ever becomes fiat or turns to air if Cake goes to $0
Biggest position is ca$h. No interest income, just pure depreciating $. It's safety net for over 10 years since I have no job
If Cake doesn't turn to $0 and stays at $10 and the APY on the project stays at this level, technically it can pay for all living expenses, so that's basically a passive income provider (job)
I read something inspirational today (shared below, entire Twitter thread is worth a read, imho) and gonna help to hold and sit tight on the positions even during a downtrend...
"14/ #2- Paul Tudor Jones called & he said, "Do you know that when Bitcoin went from $17,000 to $3000 that 86% of the people that owned it at $17,000, never sold it?” Well, this was huge in my mind. So here’s something w/ a finite supply & 86% of the owners are religious zealots."
I bought a bitcoin today, but technically, it's the same bitcoin I sold a week and a half ago
I think the bull market is not over, so I'm gonna hold 13 btc's until eoy but if this downtrend turns out to be a multi-year bear market, I'll sell the 3 btc's and hold 10 till next bull market cycle in 2025 (hopefully)
I am holding some altcoins, the biggest 2 are Celsius (CEL) and Cake
I traded my Eth position to CEL and added a little bit more capital. Celsius has been strong during this downtrend
Cake provides daily income but I compound it so who knows if that ever becomes fiat or turns to air if Cake goes to $0
Biggest position is ca$h. No interest income, just pure depreciating $. It's safety net for over 10 years since I have no job
If Cake doesn't turn to $0 and stays at $10 and the APY on the project stays at this level, technically it can pay for all living expenses, so that's basically a passive income provider (job)
I read something inspirational today (shared below, entire Twitter thread is worth a read, imho) and gonna help to hold and sit tight on the positions even during a downtrend...
"14/ #2- Paul Tudor Jones called & he said, "Do you know that when Bitcoin went from $17,000 to $3000 that 86% of the people that owned it at $17,000, never sold it?” Well, this was huge in my mind. So here’s something w/ a finite supply & 86% of the owners are religious zealots."
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The only thing I see on this chart is that there will always be a possible explanation for what will happen. So this chart is always right. Just put enough lines on it.
I think there are still a few lines missing... do you see it too?
