re: Official CryptoTalk Thread

Sounds like a good plan. If you time ALT season pretty good, you can make some really tremendous gains. I'm not one to criticize anyone else's plans anyways. I just bought another stack of BITX as Bitcoin fell further this morning. This while having three other stacks of BITX in the red, two with significant unrealized losses. To me, it's like dollar cost averaging on steroids into lower prices. To 99% of everyone else, I am crazy.

Alt season likely starting.

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Everyone needs a sell plan going in. Don't let fomo round-trip you back to cycle lows.

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Exactly my sentiment. Every single new volatility trade set I open has a sell price that guarantees I make a nice profit. I don't let the fear of missing out on an even bigger gain stop me from locking in my minimum predetermined profit on each trade set. Once a sell price trigger point is exceeded, I reverse and close out the trade.

We having fun today?

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We having fun today?

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No fun sir.

I'm so sick of this price action. I need a God candle.

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I'm so sick of this price action. I need a God candle.

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This is just what Bitcoin always does. I want Bitcoin to go straight up too. A God candle would be awesome. But we can basically depend on Bitcoin to whipsaw up, down and sideways and get jerked around by the latest news. History proves Bitcoin's crazy and unexpected price swings are just normal price action behavior.

I always used to be annoyed every time Bitcoin pulled back, especially on stupid news like maybe we aren't going to get more rate cuts. That shouldn't even matter with all of the projected new future demand from states, nations, pension funds and companies wanting to create Bitcoin reserves. Losing even 1% in potential rate cuts this year shouldn't even matter, but yet Bitcoin traders will overreact and over sell, with dummies jumping off the cliff.

The reason Bitcoin pullbacks were so annoying was because I was basically just a Bitcoin and Bitcoin related investments holder. I might have added more on dips and pullbacks, but it really was frustrating to see Bitcoin have pullbacks.

Now I still have Bitcoin ETF positions that I "hold", but I also have significant "trading" cash positions that I use for volatility trading between cash and BITX. You can really make some nice gains on volatile price action like has been occurring over the last month.

Bitcoin has trended up, down and sideways over the last 30 days but with fairly frequent significant price swings $2K or more. Being above $102K a couple of days ago, and now at approximately $95K is a good pullback for a volatility traders. So I plan to buy another stack of BITX this morning, and look to sell it once Bitcoin recovers to above $100K. Since BITX trades at 2X what Bitcoin does, a 5% recovery in Bitcoin will mean a 10% gain in BITX. Then I recover the trading cash and put the gains in more BITO shares and/or cash. That recovery might happen in hours, days, or weeks but I am just patient.

After I learned how to make volatility trades like above, I no longer am phased by Bitcoin pullbacks. Instead of being aggravated, I just see that I get yet another of many opportunities to make money. This happens so often that I am happy no matter which way Bitcoin is trending. I still have two stuck volatility trades from mid December where I bought BITX when Bitcoin was approximately $104.5K. Those two trades are currently at significant unrealized losses. I don't even care. I know Bitcoin will be at $107K or higher at some point and I will make money off of those trades. In the meantime I keep making more volatility trades while Bitcoin is at lower prices.

From a psychological perspective, my trading style makes me much less annoyed when I used to just Hold Bitcoin ETFs.

Cmc has fear/greed at 43….but btc is still above 90k. Pretty strong sign imo.

New to this thread and to investing altogether. Pardon my ignorance. I’m trying to learn about all of this. I haven’t read through all of this thread, but am interested in dipping my toes in crypto.
Back ground: RN with the state for 21 years. Plan on working 12 more years. I hav been maxing a Roth for most of my career and have roughly 250k invested in the market right now through a financial advisor. Everytime I mention crypto, he blows me off. I understand it’s volatility. Have around 30k cash in hand and was thinking about investing 10k of it and tracking it for next 5-10 yrs. Any advice or help is greatly appreciated. I’m not looking for get rich quick. Just would like every opportunity possible for my family. Thanks guys

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chellelsu

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Bitcoin only. Don't buy if you don't have at least a 4 year holding window.