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re: Official CryptoTalk Thread

Posted on 12/19/24 at 11:57 am to
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 12/19/24 at 11:57 am to
quote:

I did a bad job explaining it but he expects ETH to push at a higher rate than BTC and alts will go along with it once the bulls get the ball back again.


Eth out X'd BTC last bull too.
Posted by HottyToddy7
Member since Sep 2010
15247 posts
Posted on 12/19/24 at 12:00 pm to
quote:

Eth out X'd BTC last bull too.


Exactly, the concept is people take BTC profits and put them into ETH and alts now that BTC has left its bear market and ETH/ many alts have not. More room for growth.

We are still waiting on retail. Volume supports we are just getting started.
Posted by Chorizo chang
Statesboro
Member since Feb 2022
667 posts
Posted on 12/19/24 at 2:44 pm to
I shifted about $70k in Kaspa into Eth on a hunch that Kas was about to dump. Then the entire crypto market gets totally reamed lol

Im down about $25k in the deal but now im just trying to figure out which one is the most oversold
Posted by castorinho
13623 posts
Member since Nov 2010
84626 posts
Posted on 12/19/24 at 3:05 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10546 posts
Posted on 12/19/24 at 3:19 pm to
Closed long puts on IBIT today. Modest gain and frustrated again that I left money on the table.

I opened a long nano BTC contracts at $99K, and have open order at $96K and $95K to test entry point for the long leg of volatility trade.

If it keeps going down I'll suspend for the holidays and maybe think about buying some physical BTC depending on how low this dip gets.

Posted by LordSaintly
Member since Dec 2005
40656 posts
Posted on 12/19/24 at 3:22 pm to
Posted by HagaDaga
Member since Oct 2020
3368 posts
Posted on 12/19/24 at 8:37 pm to
Newbie question...what's the inside joke in that tweet?
Posted by HagaDaga
Member since Oct 2020
3368 posts
Posted on 12/19/24 at 8:44 pm to
quote:

More states, nations, pension funds, etc are talking about creating Bitcoin reserves

Think El Salvador being told by the IMF to shut down their BTC payment system, to get a loan, had anything to do with todays drop/volatility?
Posted by jefforize
Member since Feb 2008
45039 posts
Posted on 12/19/24 at 9:50 pm to
She fricked a 100 dudes in a day
Posted by HagaDaga
Member since Oct 2020
3368 posts
Posted on 12/19/24 at 10:48 pm to
Oh it's that's girl.

I see a lot of chick BTC advocates on twitter, so thought it was some popular one with some kind history people joke about.
Posted by beaverfever
Little Rock
Member since Jan 2008
34424 posts
Posted on 12/20/24 at 5:53 am to
This is beautiful. Whales and market makers are bullying retail into selling their coins for 20% off and then they’re immediately going to flip their position and hoard again. The bitcoin market really is the purest trading market. A wealth transfer from the weak to the strong.
This post was edited on 12/20/24 at 5:56 am
Posted by HagaDaga
Member since Oct 2020
3368 posts
Posted on 12/20/24 at 6:37 am to
How are they bullying them? With the Powell effect and govt shutdown looming why wouldnt it be going up? End of year tax sell off having an effect?

So btc is currently at ~93,500/per. What are peoples thoughts on how much is left to drop, and what are signs of it turning? I know it's volitale so can go down a lot lot further but just wondering what are signs people look out for.
This post was edited on 12/20/24 at 6:48 am
Posted by LSURulzSEC
Lake Charles via Oakdale
Member since Aug 2004
78555 posts
Posted on 12/20/24 at 7:30 am to
I’m just buying the dips with all the crypto I own…
Posted by The Mick
Member since Oct 2010
44455 posts
Posted on 12/20/24 at 7:38 am to
What websites or follows do you guys respect for general crypto opinions/sources/news, etc?
This post was edited on 12/20/24 at 7:42 am
Posted by NoSaint
Member since Jun 2011
12064 posts
Posted on 12/20/24 at 7:48 am to
Yea, didn’t put in a ton but a bit has gone in.

I don’t think that’s the one and only time we touch $100k
Posted by 98eagle
Member since Sep 2020
2634 posts
Posted on 12/20/24 at 8:43 am to
This volatility is typical of what Bitcoin always does. Weak hands are getting shaken out of the market as they lock in their losses.

This current Bitcoin price action is exactly how I have been making the most money on more significant pullbacks. I've got two BITX purchases (over the last two trading days) right now with substantial unrealized losses and I am buying more BITX today (like buying into a falling knife). In reality I am cost averaging into lower prices. On the upcoming recovery, whether that's real soon or next month, my unrealized losses will turn into significant gains.

Even though I could probably make more money over the year trading options, my trades of actual BITX mean that I can make my trades whenever I want to and not get liquidated or have my options called. Every trade turns into a win, or at least they have so far. Bitcoin is still in a major bull market and this is just a typical pullback that so many people just can't stomach and get upset and worried and make not so smart trades on emotion.

It used to take ice in my veins (buying into losses that are stacking), and actually not really any more. I trade with no emotion or worry, more like a robot. I know sooner or later, my trades will turn from red to green and I will cash in significant gains on preset sell prices.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10546 posts
Posted on 12/20/24 at 9:10 am to
Long at $93K
Posted by HottyToddy7
Member since Sep 2010
15247 posts
Posted on 12/20/24 at 9:15 am to
ETH big bounce off the channel low that started November of 2022. Looks like the bottom. Would wait for confirmation but looks like it to me.

ETH probably going to break $4100 and head to ATH next knock. This may be as low as we go for the rest of the cycle.
This post was edited on 12/20/24 at 9:16 am
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81720 posts
Posted on 12/20/24 at 9:16 am to
Just buy the dips and don't read into it so much. At least thats my philosophy. There isn't an answer for every 1% move you see
Posted by HottyToddy7
Member since Sep 2010
15247 posts
Posted on 12/20/24 at 9:19 am to
quote:

Just buy the dips and don't read into it so much. At least thats my philosophy. There isn't an answer for every 1% move you see


BTC, ETH, NASDAQ, SP500 were all at channel tops on Wednesday. This was a natural pullback. Just happened to align across Stocks and Crypto.

This is healthy.
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