Crypto Macro Trends for 2022
- Thread starter johnarb
- Start date
Closed long btc perp futures @ $16,495, kept failing to break above trading view purple moving average...
(Although now it's making a run for it after I closed it, of course, trader's curse)
You should give yourself a break, man. Don't trade on Saturdays. Remember Tyrell's admonition...
Rest, dude.
I think you're correct, it's better not to trade on weekends, slow moves and all. It's not much work, though, learned not to be glued to the chart and do my stuff, take a trade whenever it's an attractive price and same with closing
Sigh, stopped out. I was in profits but had to go out pickup Uber Eats delivery and must have been some news that came out
I don't think there's anything wrong with Binance but I do not have any crypto assets at Binance since I'm locked out when they instituted KYC on all the accounts last year
I did see all of those Twitter posts from Mike Alfred but they're kind of empty innuendos
The first one talked about Brian Brooks who moved to another crypto firm Bitfury and before Binance.US, he was at Coinbase
The 2nd and 3rd Twitter posts are hypotheticals that are not backed by anything concrete
Binance is the biggest crypto exchange in the world and is profitable. CZ was interviewed on CNBC recently and he was asked direct questions about BNB which he said is put on a separate section and not part of the Binance balance sheet, and as far as the tokens published, those are customer assets, 1-for-1
Binance balance sheet is comprised of Bitcoin and Ethereum, a third in stablecoins and I forgot maybe treasuries or commercial papers
Then CNBC anchor asked again if the balance sheet can withstand a bank run or other crisis like what happened with FTX and CZ said yes, because Binance is profitable, the Binance treasury so any obligations they have are not a threat to the company's viability (I'm paraphrasing)
This is completely different than FTX or any exchange that is insolvent, meaning has a hole in the Balance sheet
Binance has been profitable for many years and survived bear market of 2018 and thrived
But I have no exposure if Binance exchange shuts down
I do have exposure to BNB and CAKE ($10K each) and staking on defi yield farm liquidity pool as an AMM (automated market maker)
But that's defi, so I can get out if the rumors become more solid