Crypto Macro Trends for 2022

[johnarb]

I have 2 questions. When is the tax selling going to subside? Are you related to Xela?

Tax selling is done as far as I know and no, I don't know who Xela is. I very rarely post outside of the Crypto Assets forum

 

[johnarb]

Not to belabor the point, but BlockFi is a big US crypto assets lending platform (similar to Celsius) that recently liquidated a large client that couldn't pay the margin call

Maybe it was 3AC, or a different one but this confirms that large crypto players are getting rekt

https://twitter.com/x/status/1537499455007645696

 

[The_Krakenite]

Well, even without the world crashing and burning, there was always large players getting rekt.

Speaking of, remember when FireBlocks (I think) lost those keys to all those assets?

 

[Ed48]

When all the forced selling is done, I am very curious to see what the price action will be. My hunch, based on absolutely nothing, is that Bitcoin will recover much faster that previous times. Everyone will be too scared to touch anything other than Bitcoin, and the government officials will have shown they have no power over a failing economy and monetary system. I don't think we will even need fake tethers to bump up the price as @RedDuke keeps saying. The buying will be organic. Everyone will learn about counter party risk, and the whole LME fiasco with cancelled trades will further show that no exchange can be trusted. So I think all money will flow into Bitcoin.

That sounds like hopeful thinking. I know because I've indulged in that.

What was your average buy price of Bitcoin? Did you invest a large sum?

 

[NoahA]

That sounds like hopeful thinking. I know because I've indulged in that.

What was your average buy price of Bitcoin? Did you invest a large sum?

From maybe around 50k average price, but I did buy more in the 40's and 30's. Its a decent sum for me, but small compared to most. As an example, I had 5 Luna left that clearly went to zero from about $75 average price, so only a loss of about $400.

What I most worry about is a bunch of Solana from about $200 average. Ouch. The bitcoin I am fine to hold, although it sucks that I have no more cash to buy at these prices or lower. The ETH will hopefully recover as well as its my second biggest holding after BTC. But going forward, I can see that only Bitcoin is the only crypto to hold for long term. Others might have a massive run, maybe not the 100x anymore, so that can be ok as a trading vehicle, but for long term, I wouldn't hold anything but bitcoin.

None of these losses are life changing money, so its ok, and they are still just paper losses, but certainly it sucks to have only finally taken crypto seriously at the end of this last bull run.

 

[JackMorgan]

there no trend , just end

 

[JackMorgan]

Tax selling is done as far as I know and no, I don't know who Xela is. I very rarely post outside of the Crypto Assets forum

yes, its good you stay in your lane

 

[JackMorgan]

if this is you, you're doing it wrong. let your wife trade for you

 

[JackMorgan]

at 20k , we're about 5% of the predictions made by the scum just a few short years ago .

 

[johnarb]

if this is you, you're doing it wrong. let your wife trade for you

Good dog, Jack, good boy. Here's your bone for today, doggie, now wag your tail