Is the crypto winter over?
- Thread starter schizo
- Start date
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.
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.
You make a good case with the charts, but I do think its different this time. Bitcoin is a very mature market now, everyone has heard of it, but many have not touched it. This crypto winter has been about all the leverage and shady practices. If bitcoin rises now from pure interest, and especially with the backdrop of high interest rates and huge debt levels, it might actually catch on this time and be brought to a much more prominent level.
Its kind of like an old car. You might need to crank the starter several times on a cold day, but eventually it starts. This cycle might propel bitcoin into the mainstream and once everyone thinks "I need to put just $100 or $1000 into it", it might become so distributed that it won't drop again 80% like it has in the past.
I really do think that this time it is different, if this rally has some traction of course.
Closed the long 5 btc perp futures intraday-position @ $23,240sh (actually only closed 4.5 btc perp futures)
Will be busy for the next hour or so
Swing-trade position still active long 5 btc perp futures since yesterday
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.)
Unless you're an impeccable market timer, I would suggest you sit tight and wait. It might be a while, but it will come down. I'm banking on 21,700.