Is the crypto winter over?

johnarb said:
What Baron was describing is Bitcoin as a SoV like gold. This is only one use-case for bitcoin

So, let's say you have $1M in the bank and want to invest $100k in gold, you put in safe, in the future you want to spend it, you can take an ounce here or an ounce there, sell for $ and spend on goods and services

Same as bitcoin if you put $100k, you don't spend it until 1 btc is worth $500k or $1m, but don't spend it all, you only spend the amount of btc that you need or want to spend

I do that now, I have most of our liquid net worth invested in bitcoin and crypto assets, but I have no qualms spending 0.01286566 btc on a TradingView annual subscription

This is because I have much more than that amount of bitcoins

If you have other means to spend, let's say you have a job, spend your fiat on goods and services but if you want to spend bitcoins sometimes, you can do that, too

As far as borrowing against bitcoin, sure, but most of the crypto borrow/lend platforms, BlockFi, Celsius, Voyager, Genesis, et al

DeFi is the way. AAVE, Compound, Venus, and others. No counterparty risk, they are smart contract platforms on the blockchain. None of them went bankrupt or had any troubles during this crypto winter

I have a loan from DeFi that I can pay any time 24/7/365 and get my bitcoins collateral back

When you borrow, you can spend it, but it's not a tax event since you did not sell

I did not spend it, though, I bought more crypto assets. This is not adviseable. This is leverage. You gotta know your risks and exposures and understand all the possibilities
More...

Great info.Thanks.
 
NoahA said:
God dammit, I've been trying for a few days now to get some fills, and nothing. This is exactly what I was afraid of. Everyone knows to not chase, but then with bitcoin, will it ever retrace like what you expect in the financial markets? I didn't buy any at the 17k level because I figured it might still go a bit lower. And now I certainly don't want to load up at the 23k level since its so much higher.

I can't help but think of @RedDuke who wanted to load up the truck at 10k or 5k. Now he literally might not ever own any. And even me, I have none at the sub 20k price. And its highly likely that sub 20k will never be seen again.
More...

You can invest slowly but surely as an alternative.As opposed to loading up I mean.

At the end of the day its only a currency exchange.

There'll still be some volatility there to improve your buys here and there.

Don't let it get to 40 and you're still not invested.(After you've researched and made your own decision on the future of course.)
 
schizo said:
Just wondering how the debt payment is handled. Do you still make a monthly payment on the interest? If so, does it come out of your wallet or do they deduct from the collateral?

What happens if BTC drops in value, as in $66,000 to $20,000, thereby reducing your principle equity? (Similar to a home equity line of credit and then your home value drops to a negative equity.)
More...

No payments. The interest accumulates on your loan. USDT is my stablecoin borrow (and payment)

Perpetual loan, as long as you don't exceed the LTV limits of the collateral, for BTC it's 80%

Variable APR, based on supply and demand of the platform

Yes, on the collateral, if value goes down, either deposit more collateral or payoff parts of the loan

The platform I use gives me cashback in the form of platform token that has a value ($ price), so my loan APR is effectively less than 2% currently
 
schizo said:
Smart money always like to violently shake out any weak hands before driving the price up (or down).
More...
This is what I mean by smart money shaking out scared money before taking price higher or lower. Happens all the time, in all time frames. And this is what I'm expecting on the daily chart before we go up in earnest.

upload_2023-1-21_13-46-3.png
 
schizo said:
This is what I mean by smart money shaking out scared money before taking price higher or lower. Happens all the time, in all time frames. And this is what I'm expecting on the daily chart before we go up in earnest.
More...

Asian traders are crazy. I'm asleep during those volatile times. Happens almost every night/early morning
 
Long intraday-trade 5.5 btc perp-futures @ $22,808

Still holding long 5 btc perp futures for swing trade multi-day hold

upload_2023-1-21_15-24-39.png
 
johnarb said:
Long intraday-trade 5.5 btc perp-futures @ $22,808

Still holding long 5 btc perp futures for swing trade multi-day hold
More...

Closed all positions @ $22,835

Bitcoin trading below my ma indicators, which are acting as resistance levels

all flat for now it's been a very good 2 days, withdrew $10k paid part of my defi loan

Over $13k profits

upload_2023-1-21_16-23-9.png
 
Last edited:
You must log in or register to reply here.
Back
Top