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re: Official CryptoTalk Thread

Posted on 6/17/22 at 10:17 am to
Posted by tduecen
Member since Nov 2006
161246 posts
Posted on 6/17/22 at 10:17 am to
Picked up some BTC yesterday, now I need it back at 70k
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82089 posts
Posted on 6/17/22 at 10:18 am to
It isn't a bad option at all in a Roth. If your Roth can't hold physical bitcoin (most cant), GBTC is a good alternative. The discount to NAV is wild, something like 30% right now. If it ever gets converted to a ETF, there is a lot of upside.
Posted by BottomlandBrew
Member since Aug 2010
29373 posts
Posted on 6/18/22 at 5:08 am to
There we go, finally. $20k BTC and $1k Eth broken to the downside. The whales are more like sharks these days and are devouring each other. I'm already well in the red, so it doesn't matter to me how low we go. I'm kind of enjoying watching it.
Posted by 21JumpStreet
Member since Jul 2012
14868 posts
Posted on 6/18/22 at 5:43 am to
Backed the dump truck at 29k smh
Posted by METAL
Member since Nov 2020
1616 posts
Posted on 6/18/22 at 6:00 am to
Trying to remember who it was. There was one person on here in particular that was aggressively adamant that BTC wouldn’t fall to the teens. “Won’t even fall to the high 30s” “RH is a fricking idiot” …

Anyone remember who that cuck was?
Posted by LSURulzSEC
Lake Charles via Oakdale
Member since Aug 2004
79332 posts
Posted on 6/18/22 at 6:41 am to
Dollar cost average buys 3-5 times a week for me with BTC and ETH...
Posted by TigerDeBaiter
Member since Dec 2010
10676 posts
Posted on 6/18/22 at 7:10 am to
Picked some more up just under 19k and was feeling good about it until about 30 min ago.

Was hoping that was a temporary bottom for a while. Still think we get close to 10k eventually though.
Posted by ronricks
Member since Mar 2021
11168 posts
Posted on 6/18/22 at 7:19 am to
It’s going well below $10k. Most of the major exchanges aren’t going to make it until December before they are insolvent.
Posted by tduecen
Member since Nov 2006
161246 posts
Posted on 6/18/22 at 7:22 am to
I don't see under 10k, I keep thinking it is going to settle between 13-15k. Of course I also thought that BTC wouldn't fall under 20k again when it was around 50k so what do I know
This post was edited on 6/18/22 at 7:23 am
Posted by LSURulzSEC
Lake Charles via Oakdale
Member since Aug 2004
79332 posts
Posted on 6/18/22 at 7:22 am to
quote:

It’s going well below $10k.


if it doesn't hold at $13.6k...
Posted by TigerDeBaiter
Member since Dec 2010
10676 posts
Posted on 6/18/22 at 7:42 am to
I think it could go as low as 8k, but again, thought we’d have some kind of relief rally at some point. Down 40% in a like 10 days.

Once there’s too many shorts piled on the exchanges will liquidate the shorts. Maybe that hasn’t happened yet.
Posted by 21JumpStreet
Member since Jul 2012
14868 posts
Posted on 6/18/22 at 7:58 am to
Gonna get ugly at 14k, celsius gets liquidated
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 6/18/22 at 8:08 am to
Posted by tduecen
Member since Nov 2006
161246 posts
Posted on 6/18/22 at 8:12 am to
I've started pulling off of exchanges, stuff that I had staking qnd placing in wallet accounts
Posted by METAL
Member since Nov 2020
1616 posts
Posted on 6/18/22 at 8:38 am to
Take everything off of exchanges.
Posted by cable
Member since Oct 2018
9735 posts
Posted on 6/18/22 at 8:46 am to
WTF happened between 6:50 and 6:55 UTC AM this morning?
Posted by BottomlandBrew
Member since Aug 2010
29373 posts
Posted on 6/18/22 at 10:22 am to
Everything and nothing. Who the hell knows. It just happens sometimes.
Posted by DVinBR
Member since Jan 2013
15349 posts
Posted on 6/18/22 at 10:48 am to
Posted by tagatose
South Carolina
Member since Oct 2005
2029 posts
Posted on 6/18/22 at 10:52 am to
Probably Rocket
Posted by rintintin
Life is Life
Member since Nov 2008
16997 posts
Posted on 6/18/22 at 11:35 am to
quote:

Anyone have thoughts on buying The Greystone BTC Trust ETF rather than Bitcoin? Thinking of purchasing it in my Roth if prices drop a bit more.


Buy at your own risk.

It's current NAV is roughly 30% below BTC and it's been selling off lately in droves as institutions are bailing.

The big question mark right now is whether the big crypto hedge fund who just went under (3 Arrows Capital) still holds shares. They were the largest shareholder (6%) since 2020 and just went insolvent. It has not been disclosed whether they've sold or not, but if they haven't they will be dumping a massive amount.

They're applying for spot etf approval which the decision is supposed to made in July. If that gets approved (less than 10% likelihood) it could pop and make up for the NAV discount, but if it gets denied it would probably further sell off.

That being said, I will be buying in my Roth when I think the bottom is in.
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