As you might already know, I'm upbeat in the long run, but bearish in the short run. Here's a close-up of the possible scenario I see going forward. Hope it helps.
But eventually...
Is the crypto winter over?
- Thread starter schizo
- Start date
But eventually...
That's my problem, bro, I'm always thinking any day now that last arrow will take place taking btc above $30k, 50k, 100k, with minor pull backs
One big news like Apple buying bitcoin for their treasury or Dubai sovereign wealth fund or Germany making it legal tender could start the process...
In that case, do what I do. Ignore all the fundamentals, including the news and social media. Strictly stick with the chart. Fundamentals lie and manipulate but prices on the chart don't lie. When something happens on the macro level, it's already factored in the chart and it will be reflected as such.
That works for short term price movement and trading
Hodlers do something very similar which is to ignore short term price movement. Low time preference and visualize when bitcoin is worth much much higher in the future
US is 120% debt to gdp, operating on a deficit every year, US $ is a ponzi
If that is a fact, we know that in the future, the Fed will go back to their money-printing business or the US just defaults and loses global reserve currency status
ipso facto 1 bitcoin will be worth over $10M in the future. We just have to wait for it...
I have no idea if I got all that funnymentals from crypto twitter macro experts correct, but I like the conclusion
Why would you get liquidated on a perp futures account when it drops only 200 bux? What leverage are you working with there?
It wasn't $200, position was a week ago when btc was above $24k, look at previous posts, did not take profits when btc went above $25k on 3 different times
Ahh I see. I just wish you peeps would not overleverage a perpetual account. You have the golden goose in your hand! Know how to play that game! I would kill for a perpetual futures account! I would never have lost any damnedmonies! GAHHHH!
Have you looked into ByBit? Or for you, I think you should consider a dex, permissionless like Gains, trade 100x leverage on AAPL, SPY or EUR/USD perp futures
https://gains.trade/trading#BTC-USD
Arthur Hayes, an ex Wall Street dude and a Bitcoin OG (billionaire?) invented perpetual (swap) futures
I watched many youtube videos talking about the biggest traders in the world are trading crypto perpetual futures (many got burnt by Sam Scammer-Fraud) but somehow, no one on ET the biggest trading forum seems to be involved, although I suspect MrMuppet probably does
The US already defaulted on its gold obligations in 71. This is why the 50s & 60s were the last of the era where one in the working-class could work hard and make a rich life for themselves. Now you're taxed to death and drowning in inflation ever since, while job wages have not increased.
The future isn't going to be any brighter.
You mean to say that you don't have a rich life today compared to the 50s & 60s?