Yeah cna’t imagine crypto (or shares or anything like that) is ever robbing the rich. Maybe the idiotic middle class?
In the real world ppl trying to trade up hundreds of thousands usually do years of school before, mentorship, months of research, endless 9-5 hour days reflecting on their choices…
Most people in crypto are doing a fraction of that work and getting disproportionate returns.
Other people see a cute dog coin and brrrrr it goes up!
I pegged you as somewhere between the second and third group ;) I guess a lot of the work is behind the scenes? heh
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5-10x just isn’t realistic on any short or even medium-term timeframe, anyone expecting that is destined to paper-hands out into whatever altcoin pumps 10x (like DOGE and others) and just slowly lose their stack. This could have been the end of this cycle, I think it makes sense that with each cycle Bitcoin goes up a smaller % and also goes down a smaller % (basically converging more onto it’s “true” price, which is what I think is what will happen. That’s not a bad thing, it just means that Bitcoin is becoming a developed asset, less likely to go down 90% in a day also means it’s less likely to go up 10x in a day, it’s a trade-off. You can still get 90% losses and 10x gains in the random other shitcoins, and that’s probably going to go on forever, it’s just penny stocks of modern times.
I’m not really going to be shook unless it drops below 20k. It’s never dropped below the previous cycle tops. There’s also only been 3 previous cycles really, four including this one. I wouldn’t be surprised to see it trade “sideways” for months/years? though and keep shaking traders out in the churn. I believe a lotta people who sold recently are actually people who sold at a loss, many of the accounts holding large amounts of crypto have not sold because they’ve all seen this show before.
Zoom out!
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Seriously let’s parse this out. There are dozens of posts in this thread talking about “if I bought x thing at y price I’d have z dollars” but when I mention something concrete, and that the money isn’t going to me (I buy my clothes at the fucking thrift store man), then that’s when it’s worthy of ridicule? Like, if I said I’d park it in a mutual fund and horde it then it’d be fine?
Part of this is that I don’t do traditional investing because I think it’s unethical and immoral, but that’s probably a separate conversation.
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Nothing there addresses why you typed “admit doing minimal work”. Also in the “real world” of what? Traditional finance?
If you just want to start some shit then go nuts, but I am curious about all this.
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FWIW Willy Woo, who is apparently pretty good at analyzing on-chain transactions, thinks we aren’t at the top of this cycle.
https://twitter.com/woonomic/status/1395350421187690500
https://twitter.com/woonomic/status/1394211689260675072/photo/1
How short of a frame are we talking here?
For me, it’s something like
Short = under a year
Medium = under 5 years
At least in terms of me putting money in some speculative asset and letting it sit there and not actively trading it
This thread took a turn
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How many jobs let people earn multiple houses in 5-10 years? Let alone within a 14 month bull cycle?
Why would you get defensive about people incredibly gently teasing your confessed disappointment at not making over a million dollars / thousands of percent returns in a couple of years? Without being results oriented here - what investment could ever be reasonably expected to do that? It sounds like you’ve done well.
“you don’t get it dude I really wanted two houses in a year!” is err… yeah. Lots of people would. Sure?
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This one, although Josh’s post made me think that not everybody looked at the halving cycle as a sure thing. Doge would be results-oriented but everything else was guaranteed.
china reminds us they banned bitcoin again this morning and it drops 10%. lmao
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China now trolling us for the larfs like Elon
Can crypto go negative like oil so they pay you to store it?
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I have no idea either way anymore, so I’m holding because that requires the least amount of effort
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it badly needed to stabilize but it’s not so
This is also a small drop by bitcoin standards. Sub 10k would even be a normal drop for bitcoin from here.
I think after each halving and subsequent run up to a new ATH, it usually loses round 60-70% at some point before next halving.
I’ve put in a limit order to catch one of these falling knives.
Don’t want it to fill but also do this is a strange market.
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We’re all insane for being in this volatile stuff.
these were two funny typos btw
edit: this was an apology I accidentally edited over when trying to fix the typos, oops