re: Official CryptoTalk Thread

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You should just post for the rest of us that want to try your system when you're going to make a trade, and what the trade is. Obviously make your trade prior to posting.

I would really appreciate that as I'd just follow your trades in small dollar amounts until I figured out what exactly you're doing.

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Iowa Golfer, a little while ago I made the following two trades to close out my last trade that I opened yesterday at market open. Just recapping, yesterday morning I sold 5% of my BITO stack when Bitcoin was approximately $58,450 and I used those funds to purchase BITX.

This morning I closed/reversed that trade by selling all of the BITX (that I bought from the last trade) when Bitcoin was approximately $60,375 and purchased BITO with those funds. Bitcoin was pulling back in price before I could submit the BITO buy order so I came out a little better.

When I did the math taking the BITO share amount before I opened the initial trade yesterday to the increased share amount after I closed/reversed the trade this morning, I gained 3.1% in more BITO shares from this trade set. So that's like a free 3.11% dividend that I created for myself with my strategy in just 1 day. My average gain per trade set is usually closer to 2%, but sometimes I make more and sometimes I make less.

EDIT: Bitcoin just popped again even higher. If you haven't already sold your BITX, you will come out even better. Missing a higher price doesn't bother me at all. I like to lock in gains and close out as many trades as possible. I really would like to see Bitcoin rocket sky high and then still make volatility trades no matter what Bitcoin's price is.

Yeah I got a little lucky this morning with the Bitcoin spike. I just look for $1K pullbacks and recoveries of $1K. I would have reversed the trade as soon as Bitcoin went above $59,450 but by the time that I noticed Bitcoin was above that price Bitcoin had just crossed $60K and was still climbing. My wife was telling me that I should wait because Bitcoin was still climbing and I said "nope" I am locking in my gains. I have been greedy before and missed out on better gains. My mindset is that I can't predict Bitcoin tops and bottoms in these price swings. I methodically just trade when price trigger points that I set are crossed telling me to me make a trade.

I really do need to set up alarms to tell me when Bitcoin either rises above or falls below my price points. I think I might be able to set that up in the coinmarketcap app or a similar app.

Also, although I don't trade based on news, I do expect a lot more volatility ahead with the Fed rate cuts meeting tomorrow and the Israel/Gaza war looking like it is going to escalate.

Today's range so far 57,643.33 - 61,270.95

I reset my alert to buy BITX at $59,100

Pretty tough since BTC is the trigger, but it triggers a buy for a security, not for actual BTC. And these tracking ETFs don’t necessarily track BTC’s price accurately.

Don't repeat my mistake. I recently threw $100 into a random meme coin and checked back a week into owning it. It was up to $2100 and I was just like "hell year" so I let it ride. I checked back three days ago and it is 0 now and delisted. Looked on Coin market cap and saw it has lost 99.2% of the value in the four total weeks of me owning it.

SOunds like a rug pull

BTC on upward trajectory, so I need t keep resetting targets for entry into BITX.

@98Eagle I'm assuming you're doing hte same until we get a price plateau and downward movement?

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you think matic hits at least what it did last cycle?

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I think the polygon network has a lot of good things going for it right now. I think it goes higher than last cycle.

Last cycle it was the mega billion $ VCs that pumped alts. Retail to a lesser extent. Those VCs all went bully up and no one has filled the void of that risky behavior. I kind of agree that "alt season" may not live up to the hype of the past

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Serious question, where do you guys see the money coming from to pump alts this cycle?

Not even Bitcoin is getting retail money.

I think retail is done with alts.

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Short of another round of covid like UBI altcoins are done relative to btc. I think this is the cycle btc dominance takes over for good. There have been 3 great access points of entry for btc, Gox, Coinbase and the ETFs. It's been my long standing belief that in order to eat into the sovereign debt market btc needed to cannibalize the shitcoin industrial complex first. I think we're in the early stages of that. If eth had remained POW there might have been one more shitcoin pump, but that's not the case. I think the combination of the merge with btc etfs ended any hope of real money finding its way back into alts.