Well, for the moment, it is trading above 30K so you can take some solace in that. One thing I've definitely noticed over the last 4 months is that BTC likes to chop around a lot and then break out big time at the last minute. So in essence, this gives me plenty of opportunity to fade the chops on a short-term basis (and then hopefully catch the breakout).
Is the crypto winter over?
- Thread starter schizo
- Start date
its looking strong mate!
At my lunchbreak I took a look at my Microstrategy holdings. Looks like I doubled my share value. I just thought I'd step in to once again thank all the perma-bears for this. I purchased right at the loudest screaming in this group chanting "Bitcoin is going to zero!!!" Not only was I correct in guesstimating the bottom had to be in, but I hit it just perfectly, which NEVER HAPPENS.
So thanks again perma-bears.
In other news, I bought more long-term Fed bonds today on the cheap.
So thanks again perma-bears.
In other news, I bought more long-term Fed bonds today on the cheap.
I bought a call options position on Microstrategy at the beginning of last year for a total cost of ~$27K and it has been a wild ride
The value of the position went up to $52K right before the asshole speech at JackAss-on-hole
The value of the position plummeted after the speech and lost over 90%, bottomed around $2.3K
Now the position is on the way back up. I still have plenty of time, expiration is Jan/2024
When MSTR hits $1,000/share, the value of the call-options position will be ~$250K, and maybe I'll sell to close a couple of the call options, I'm still undecided it depends on the price of each btc
I expect MSTR to hit $2,000/share if bitcoin goes to $100,000/btc
nfa
Last edited:
The only time I came very close on purchasing call options, was on Ethereum to rake-in after the Merge. Well, I was correct on the Merge being basically a perfect success. But due to all the other devastation in the markets, she went the wrong way, lol.
So in hindsight, I'm glad I didn't lose yet another bet there. Goes to show you... you can be correct on the timing, and outcome of an event... and STILL get the direction of price wrong. Doh!
Dayum. That speech really sucked, but did not really affect the markets like it did to your position. Powell really fuked us on that one.
The stock market lost $1 Trillion after that speech
It was the start of the crash in the value of the MSTR options position, the 90% lost value was over the course of many months of bear market plus all the shit show crypto bankruptcies news
Back below 30K
Good place to hop on long up to 30,300 IMO. Then back down again...
There's CPI tomorrow morning, could be a $2k move down risk on bitcoin. I don't think it has the same upside potential based on CPI
You putting a short position?
No, I have a long order at 28.8K. So if what you say is true, I should get filled tomorrow.
