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re: Official CryptoTalk Thread

Posted on 3/21/24 at 7:36 am to
Posted by Pierre
Baton Rouge
Member since Nov 2005
5289 posts
Posted on 3/21/24 at 7:36 am to
Oops! Apparently this is old news. My bad

Flash crash of btc last night? I’d love to hear y’all’s opinions on what happened and what it means?

The street

quote:

An unknown entity sold over 400 bitcoin in a short period of time on the BitMEX BTC/USD spot market,” Joe Parys reported in the video above. “BitMEX began investigating the situation internally, but this was massive. You can see these huge wicks as a rogue seller on BitMEX spot market … (brought) the price as low as $8,900.”
This post was edited on 3/21/24 at 7:55 am
Posted by RATeamWannabe
Baton Rouge
Member since Sep 2009
25949 posts
Posted on 3/21/24 at 7:50 am to
That was a few days ago now, not last night
Posted by RATeamWannabe
Baton Rouge
Member since Sep 2009
25949 posts
Posted on 3/22/24 at 8:16 am to
Headed back down to 59 or 56k.


Then up only
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80801 posts
Posted on 3/22/24 at 9:46 am to
Dips are not fun
Posted by RATeamWannabe
Baton Rouge
Member since Sep 2009
25949 posts
Posted on 3/22/24 at 9:55 am to
quote:

Dips are for buying


my favorite meme now is

"my brother in Christ, I am already all in"
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80801 posts
Posted on 3/22/24 at 10:26 am to
quote:

"my brother in Christ, I am already all in"

This is me
Posted by mach316
Jonesboro, AR
Member since Jul 2012
4780 posts
Posted on 3/22/24 at 5:24 pm to
i just bet the farm on Just the Tip (TIPS)

Not really, but i did buy some yesterday.
Posted by 98eagle
Member since Sep 2020
1979 posts
Posted on 3/22/24 at 8:16 pm to
(no message)
This post was edited on 3/24/24 at 5:36 am
Posted by I Love Bama
Alabama
Member since Nov 2007
37732 posts
Posted on 3/23/24 at 7:11 am to
You should do a deep dive on how you are trading these ETFs
Posted by Cassandra
Member since Jun 2021
47 posts
Posted on 3/23/24 at 7:44 am to
quote:

It's just way better (financially and psychologically) to buy dips without committing any new funds at all, in my opinion.


I hope your strategy is successful and not trying to attack you. Your strategy is one of the things I think is cool about crypto because of the freedom to come up with unique ways to trade.

Maybe unintentional but I think you may be over simplifying and talking with certainty about how easy it is to profit trading on high volatility without using any new funds.

Crypto can be an easy button for profit in an extended upswing which I think we’ll have in 2024. I also think if an individual retail investor is convinced they’ve discovered a novel or uncommon trading strategy to make easy money without investing new funds it’s eventually going to end in some losses. That being said, I hope you ride this to an early retirement and have fun doing it.
Posted by Odinson
Asgard
Member since Apr 2014
2759 posts
Posted on 3/23/24 at 10:23 am to
quote:

talking with certainty about how easy it is to profit trading on high volatility without using any new funds.


Must be posting from his mega yacht.
Posted by Pendulum
Member since Jan 2009
7057 posts
Posted on 3/23/24 at 10:53 am to
quote:

JUST IN: The EU enacts a ban on anonymous crypto transactions via self-custody wallets, per Cointelegraph

Unusual whales


LINK

Interesting
Posted by Faulk2Tyler
Louisiana
Member since Aug 2023
261 posts
Posted on 3/23/24 at 11:42 am to
I'm so far into the MEME coin phase its ridiculous. Some good profits on SHIB/BONK but down on WIF. My gamble is Gambit which I threw some coin into. Need it to 5x over next two years.
Posted by 98eagle
Member since Sep 2020
1979 posts
Posted on 3/23/24 at 12:49 pm to
(no message)
This post was edited on 3/24/24 at 5:34 am
Posted by Hateradedrink
Member since May 2023
1303 posts
Posted on 3/23/24 at 1:29 pm to
quote:

When Bitcoin has a good pullback, I used to hate the way that felt. Now I am much calmer because I see it strangely as a positive since I expect about a dozen or so of these big pullbacks during this cycle on the way to the top.


I know exactly what you mean. I don’t do arbitrage but my psyche has evolved the same way. It’s easier to target a floor versus a ceiling in the crypto world.

Quick run ups make me more nervous than dips
This post was edited on 3/23/24 at 1:30 pm
Posted by 98eagle
Member since Sep 2020
1979 posts
Posted on 3/23/24 at 4:27 pm to
Yeah me too.
This post was edited on 3/24/24 at 5:37 am
Posted by I Love Bama
Alabama
Member since Nov 2007
37732 posts
Posted on 3/24/24 at 7:14 am to
Why did you delete all that? I read it but didn't get a chance to respond.
Posted by 98eagle
Member since Sep 2020
1979 posts
Posted on 3/24/24 at 11:23 am to
Sorry about that. I had second thoughts. I was going into way too much detail, like it was a step by step complete instructional guide. I didn't want a bunch of newbies following that step by step, then having no conviction and losing money. I would rather discuss this at a higher level in multiple posts. I'm really glad you got to read it though, as you are one of the few I enjoy discussing Bitcoin with.

I currently hold a good portion, but to a smaller extent I trade between the Spot ETFs and the Leveraged Derivatives to take advantage of Bitcoin's volatility. Since I can't predict tops or bottoms, I dollar cost average into trends in preset % movements that trigger me to place orders.

I suspect once Bitcoin gets to about $90K or higher, volatility is going to pick up, and the amplitude of pullbacks will increase. Could be wrong (Pomp would disagree with me), but that is what my instinct is telling me as the "herd" will be larger.

I want to be prepared to take advantage of any significant or sustained pullbacks instead of just simply riding the roller coaster up and down to the moon. By mid 2025, I will abandon what I am currently doing.
Posted by eng08
Member since Jan 2013
5997 posts
Posted on 3/24/24 at 1:07 pm to
I see you deleted your stuff, I haven’t had time to write down a response to earlier but still intend to.

If your strategy is in/out to catch the volatility that should work.

My question was not meant to be confrontational, just wanted to understand what you were doing.

I don’t know if you have been here a while but there’s an old thread on ugaz 3x gas price that I think wrecked a few.
Posted by 98eagle
Member since Sep 2020
1979 posts
Posted on 3/24/24 at 1:31 pm to
Yeah I explained that in my reply to I Love Bama, the post just above yours.

I'm definitely am making trades on Bitcoin's volatility trading in and out of the ETFs and derivatives. The best part is it doesn't require new funds. My thought is that Bitcoin is pretty much guaranteed to be volatile so why not take advantage of it.
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