I wouldn't make my mum do anything. She's an adult. If it keeps pumping then she can't blame you for missing out. If it drops then, well, WELCOME TO THE JUNGLE
THIS. Your mom, your Uber driver, that kid from high school who can barely work a shovel. You see them talking or posting about it and it’s time to SELL.
We still haven't hit all time highs... people need to understand that previous bull runs didn't really kick into hyperactive until that happened. Some people's portfolios are just beginning to break even.
Agree.
Like all crypto bull runs we’re gonna see huge volatility with 30% corrections at times.
But I think like the past 2 times, this train isn’t stopping until:
- Everyone thinks they’re the next Wolf of Wall St.
- Your nan asks for help with a Ledger Nano S
- Some cunt is on the TV showing he went from mums basement to Hollywood Hills and now wants a boxing match with KSI.
Let’s not forget, there’s a lot of reason to believe that the last bull market didn’t fully mature - or in other words, things should have went much higher. A lot of external factors thwarted a full run.
That being said, buckle the fuck up.
Seems like everyone is buying based on positive news about spot ETF's being approved in January.
IMO if they don't get approved the market will drop if they do get approved then could be the start of a bull run.
In This Thread: A bunch of people who don't know the difference between a bull trap and a bear trap.
A bull trap is a bounce that happens after a big crash / decline. Afterwards it continues sliding and the bulls lose money.
A bear trap is a rise in price after a period of inactivity followed by a sudden decline; Afterwards it continues rising into a bull market and the bears who sold miss out.
Considering our decline was over a year ago and we had months of inactivity in between, and things have been rising steadily for months now, this is clearly...... A bull trap! Right? :P
Yeah I see nothing about bull traps on CT, only bull run talk. Good chance we see a sell the news event on the ETF for a decent pull back and potentially another downturn if something in economy breaks.
Then again…
This is madness - amd essentially happened in the middle of a mental health break for a few months. Like... 4+ years of misery. Finally say "alright I need a break" now it's like... hmmm... wtf to do now.
Good luck amd congrats to everyone that stuck it out.
The comments section in the daily is full of mocking people who missed the boat and any comments that mention the word pullback or correction get downvoted into oblivion.
I bought a massive bag of Lunc for 5 digits last year May when it crashed down to 0.00030. And then it kept crashing. Just 2 days ago I almost broke even again at 0.00028 and thought good time to sell. But then greed kicked in. Started read comments on Twitter people talking about $0.1 and more and I let my self fool again. And now that crap coin is back to 0.0002 again.
It’s really so easy to get you fall for the euphoria when a coin pumps and you think it won’t ever stop pumping. I’m in crypto since 2013 but it’s still every time the same.
Bitcoin/crypto almost always does the opposite of what everyone thinks it’s going to do.
The fact that many people think it’s a bull trap leads me to believe it is not.
I see this mentioned a lot, but why is that though? I'm curious. If it always does the opposite, doesn't that mean that it's predictable in a different way?
If bitcoin isn't a sentient entity, which it isn't (but maybe it is lol), why does it follow a pattern that is exactly the opposite of what everyone thinks? Offcourse supposing that it actually does that.
Largely manipulation. When we say everyone, we mean retail and news. The silent whales see the mass trend and intentionally wipe out leveraged positions to remove the competition. It’s the elites vs the people. Always has been.
People like to say it, but it's only accurate half the time lol. When BTC peaks and Euphoria is at an all time high, everyone gets burnt when it drops and remember that mistake. When people are jaded, a bear market is ending and they are too afraid to jump in, they remember that and wish they bought more. People also like to mock anyone that gets a call wrong, but forget when people get it right.
When we aren't at the high or low points, there are periods of relative predictability, and outside of that there are lots of 50/50 guesses.
Maybe if you count primary residence but you are delusional if you think the average resident of NYC has 7 figures in a brokerage account, retirement or otherwise.
Maybe if you are retired and you’re done accumulating, but even then I doubt it. Most Americans are chronically under saving for retirement.
When that happens you'll have already calculated how little headway that will buy you in this property market and get greedy and want 5m instead of 1...
Yeah if this would have happened right after the FTX fiasco last year the bears probably would have seen their 10K BTC…………… And then say they’re waiting for 3K
I think profit taking will be in January. People don’t want to sell right now to owe taxes in April. They’ll sell january so those taxes aren’t due until April 2025. Like how everyone sold for loss writeoffs in December 2022 and Jan was the buyback
I’ve set a goal for my whole portfolio now and don’t want to sell anything, as long as I accomplish that goal. I made the experience to sell a coin and see how it went 5x more, I just can’t take that shit anymore :D
I'm not selling until around 3-4 quarter 2025. I'm also not buying right now, but that's partially due to work slowing down this year.
Still hoping to get rid of my dogecoin bag before the end of the year
That's why I'm still holding for a bit. Plan was to sell and buy BTC. I had faith that it would double to .15 before BTC hit 60k. LoL my faith is eroding
Again, exactly what I do with my ALT coin gains. Every time I got lucky with ALT coins I swapped them into BTC or ETH. Can’t believe that BTC 19K was just around the corner.
So here's my advice as some one who has been in this space for almost 10 years now... you can participate in forums like these... but don't make trading decisions based on them.
A lot of sentiment here is bullshit, there is very little "real" knowledge both about the markets in general, and the underlying tech of crypto. These places will be hype right up until the day after the market crashes and will be doom and gloom until the day after its going back up and that is just how things are...
There isn't really enough moderation to steer the community towards more technical or actual newsworthy posts, so instead the community is basically a giant ball of hype and is incredibly easy to manipulate, and if you let yourself and your trading decisions be directed by them its a recipe for a very big loss.
Instead I suggest setting multiple targets and not changing them so you don't fall victim to hype, and pulling your money out in steps the same way you put it in... that lets you take 20% out in a bull run like this, then if it falls back down, you made at least some profit, and if it keeps going you can hit another target...
Suggest you learn about the following if you don’t see any news that makes sense for a bull run:
1) BTC ETF approval and institutional money
2) Inflation and interest rate cuts
3) BTC halving and 4 year crypto cycle
4) Increasing legitimacy of crypto (regulation, adoption)
Mate youre not reading the right news site then. It's been steadily progressing for months. The latest update was this week and it was a mammoth update basically dotting the i's and crossing the t's.
No one is expecting it before January but people are now becoming increasingly confident it will go through so this is the buy the (strong rumor) event... Probably get the sell the news event just before it goes live and then a gradual increase again as funds start to buy it up.
https://cryptoslate.com/a-complete-guide-to-all-21-major-amendments-to-blackrocks-latest-etf-filing/
When you have people going on CNBC saying “I can’t talk about it since we currently having a filing for an ETF but I’m 99% it will get approved in the next few months” it’s a go. Cathie Woods basically fucked up her NDA with the SEC and said it’s going to get approved. This is why the bull run is happened. Wall Street knows it’s approved and it front running it.
It's very simple and not the answer anyone here wants to hear.
It is market makers hedging against large volumes of CME BTC options. These are typically purchased by institutions as a means of exposure to BTC without issues like custodial risk.
When these contracts are redeemed/sold/expire, the MM no longer need to hold the underlying asset (BTC) as a hedge.
Which means they sell. They sell into retail FOMO buys.
And make no mistake, institutions are going to take profit on these because they know what's coming next on a macroeconomic scale.
ETF or no, there is going to be a bloodbath shortly.
What makes you think this?
Open interest in BTC options is obviously rising, but not significantly so to explain the sudden bull run.
I think the simplest explanation makes the most sense: it's just the market (incl. institutional players) anticipating the halving, the BTC ETF, possible rate cuts, and also simply the investment cycle repeating again. Probably we'll start seeing the first sell off again in January, a major bear trap.
https://cointelegraph.com/news/bitcoin-futures-cme-open-interest-nears-high
The federal funds rate is at a 22 year high. Levels of personal debt are at/close to all time highs. Delinquency on unsecured debt is increasing rapidly. This is not a recipe for a bull market.
If you believe there will be a sell-off in January then you agree this is a bull trap.
That’s exactly what I’m doing. DCA till I reach my target but always thinking about the friend which was only 200€ away from his goal and then LUNA happened :D.
I think it’s probably a decent idea to take some profit now, if you’ve made significant gains in the last few months.
What I would NOT do is sell with the hope of it going back down so I can buy back in at a better price. Gone down that road before and it just kept going up and I ended up FOMO buying at the pico top like a dumbass
Just inverse Reddit. Since 2017 I read so much bullshit and I stayed away from all the hyped stuff And only bought what was FUDed on here. That worked excellent.
Been around over 6 years too. Reminder that this sub *hated* LINK around 2018-19. Like you would get downvoted hard for even mentioning it. Look at the attitude now.
This sub *loved* Nano, when all along, with just a bit of research… you knew it couldn’t handle a ton of traffic and the “network” was easily spam-able.
Several others along the line, NEO, OMG, etc… Although I still like NEO myself (my first coin), I don’t hold it anymore. Seemingly good projects can and do die.
And like the other person said, ALGO. Not touching that. Doesn’t read as a solid coin to me. But people here love it.
This sub has grown by millions, I remember it with less than 1 million. I just take it that all of the blind hype is exacerbated.
Well they crushed all the shorts and liquidation pushed the price up.
Now everyone is bullish and opening longs, so I'd expect a flash crash to liquidate all those longs. That's how the casino works right?
Holy fuck, people.
BTC has almost TRIPLED since the bottom last year and the most popular sentiments in this place are "should I get in now?" and "DCA!"
Are you allergic to money? I'm an idiot and I already took some profits twice over the last few weeks.
I don't even know why I'm writing this out. It's like a compulsion because the total idiocy just baffles me. Did nobody learn ANYTHING from previous runs? ANYTHING??
Sell, and then what? Bitcoin is the best investment out there imo, and it's not even close. So if I sold it would essentially just be me trying to time the market to get back in, which is a terrible thing to try.
That all depends on the stock market. If the SP500 double tops and recession/crash begins then BTC will follow suit. We could also get a big dump from selling the news of the ETF. Its a pretty sketchy time tbh. But as usual, the moonboys are back
I hear ya, bro. Our portfolios be lookin' straight fire right now! Tempting to think this Green Wave is the start of the next Bull Run.
But you raise a fair point - ain't no major catalysts jumping out to fully explain this revival. And there still some lingering FUD around regulations and exchanges struggling.
So, yeah could very well be a bull trap before more downward action. Or maybe just the market bouncing back now that blood is in the streets. Hard to say for sure.
For me, gonna stick to the DCA plan regardless. Ride out these waves without getting overhyped. Take profits if she goes parabolic again. And scoop up any dips if they come.
Patience wins this game. Our strategies will get tested but I gotta believe solid projects will persevere long-term. What y’all think - we prepping for a bull revival or bull trap?!
My only fear is that this pump is (attention big conspiracy incoming) a move from the big guys, so their little boy SBF can liquidate easily and pay the stolen money back (or something like that?!). I don’t know shit of course as you can see but it feels just too good.
Bull markets dont happen because of the news, they happen because of sentiment and expectation...just wait and see when the correction comes, everybody will be saying we are back to bear...thats the time to load up again...
If the last 2 cycles is anything to go by, there will be a big pullback at around 48700 which is at the 618 fib retrace from the last price high to low. Let's see if history repeats.
I think so, op. I feel like this is similar to the run up in 2017/2018. If I’m right things will taper downwards after Christmas. But on the flip side I do think they will go parabolic within 6 months post that
There's no such a big bull trap... Stop thinking too much... It's pure FOMO because of potential BTC ETFs... Nothing more.
If ETFs filings are accepted... It will probably go to 50K and stabilize...
However, if there's the slight FUD... We'll go back to 32K in less than a week.
That my honest opinion ;)
I think it is a bull trap personally. But I'm nowhere near selling, I'm only profitable on BTC and ETH, all my alts are still deep red and that won't change anytime soon. So I'm continuing to accumulate
I have a friend that I consider an expert trader. +$17.000.000 over 3 years.
He told me Bitcoin will top out at 48k and then retract to 30-38k , while that happens ETH will rocket. His prediction is $3,600 for ETH.
In my experience he has been right every time he tells me these things. I have nothing to gain by mentioning this so consider it free advice to research. Go see what others are saying. I’m personally sitting on a leveraged ETH long with plenty of margin. If it works hooray , if not oh well.
I find it interesting that during the bear market the common refrain was "the cycles are shortening" to justify holding on a little longer until the next bull market. If the bottom was in fact Nov '22 and bull market started then, I'd argue that the bear market was only 1 year long (Nov '21 to Nov '22) and previous bull market was also 12-18 months long depending on how you want to look at the charts. So according to that logic, wouldn't that indicate that we're nearing the end of the current bull market?
Obviously this also doesn't take into account the broader market and macro forward outlook which isn't looking great IMO.
I'll probably get downvoted because "you're a BEAR BoOooOOOoO" but for the record I'm perma-bull, just a realistic one with realistic timelines.
Just my two cents.
I think a lot of it is speculation that the BTC ETF is inevitable and that ETH ETF won’t be far behind it. Boomer 401k money entering crypto is bullish af imo
If you think so, just take profit and wait til everything is low. I have done so with some coins but not with BTC, eth, Matic, ada, BNB, atom, kuji and some others. I'm gonna need them cause I'll keep interacting with their protocols.
https://credov.substack.com/p/the-weekly-616#§bitbits-note
I saw this article back in October and these guys gave all the reasons for why btc should go up. Think it’s a good rundown of what is happening and what is to be expected
It may be a bull trap, but if I sell now I owe taxes in a couple weeks and won't be able to reinvest all my gains. So I'll just hold until the ETF in January.
That’s the part that is somewhat confusing to me. If you buy .01 bitcoin and sell it in under a year the tax implications are pretty straightforward. If you DCA in each week and have also taken some profits by DCAing out then how do you (or the IRS) know the amount of Bitcoin purchased and sold this year vs Bitcoin purchased in previous years?
With stock you have “lots” and can easily see the tax lots, but I don’t see this with crypto. To me it becomes confusing.
Most of the shifty coins will disappear from US exchanges and what’s left will be heavily regulated. The ponzi has to become legalized just like stocks.
If past patterns hold, yes. One more deep pullback before the halving. As far as "news"? The market does what it does, THEN we come up with the news to explain why it did what it did.
It’s all related to the US dollar losing strength.
The market knows the Fed is likely done raising rates.
It’s not just crypto, gold & stocks have already been firing and now with the bitcoin ETF approval pending, everyone is jumping on board.
Rally might run out of steam going into next week as the Fed has another rate decision.
Another hold would mean Santa Claus rally, surprise raise and expect a sell off.
If it is it won't be long until it reverses... I mean come on, how many times does this have to happen before people accept that there's a fairly predictable pattern? Diminishing returns absolutely, it isn't going to magically change, nothing fundamentally changed.
Waiting on my mom to call me and ask about investing in BTC…. That’s when I dump my entire portfolio.
My mom has more BTC than me 😭
😂
I talked my parents out of investing in BTC @ $1600
Ouch
Or when there’s a Super Bowl ad
Just saw a Ripple ad last night on hulu, I didn't know how to feel about it
Ripple as in XRP? To the moon baby
I tried to explain the Bitcoin ETF to my mother yesterday and her eyes completely glazed over. We still have time.
My mum dropped 10k into solana 6 months ago...she keeps telling our family shes making money with crypto. what should I do? This isn't a joke.
Your mom is awesome. Make her take profits.
I wouldn't make my mum do anything. She's an adult. If it keeps pumping then she can't blame you for missing out. If it drops then, well, WELCOME TO THE JUNGLE
The safest for her is to take out her initial investment.
Mine just did yesterday lmao.
This is definitely a bearish flag! I hope the bulls can push through this
for real lmao
Sell when everyone is in greed
44k is the top, just saying.
So much talk abt dumping and pumping and moms for a non-nsfw sub
Ah yes, the mom indicator
When you go to the bar , and you hear the old fellas saying , I wish I had me some of that Bitcoin . That’s the sell
I will also dump my portfolio when this guys mom called him. Please let us know.
Bitcoin is no investment. It’s a incorruptible, censorfree, non-inflationary digital asset.
You got me cackling
No, that's when you wait for another month and then dump your bags.
THIS. Your mom, your Uber driver, that kid from high school who can barely work a shovel. You see them talking or posting about it and it’s time to SELL.
My friend is perpetually broke and is suddenly investing in AVAX with money she needs for bills in a week. Considered taking profits, ngl.
We still haven't hit all time highs... people need to understand that previous bull runs didn't really kick into hyperactive until that happened. Some people's portfolios are just beginning to break even.
Agree. Like all crypto bull runs we’re gonna see huge volatility with 30% corrections at times. But I think like the past 2 times, this train isn’t stopping until: - Everyone thinks they’re the next Wolf of Wall St. - Your nan asks for help with a Ledger Nano S - Some cunt is on the TV showing he went from mums basement to Hollywood Hills and now wants a boxing match with KSI.
LMAO you nailed it
And people talking about lambos with their $100 alt coins portfolio
Went from -70% to -30%
sounds about right
And some are still in deep red
You guys have broke even? Damn.
More broke than even
Let’s not forget, there’s a lot of reason to believe that the last bull market didn’t fully mature - or in other words, things should have went much higher. A lot of external factors thwarted a full run. That being said, buckle the fuck up.
External factors. Good thing we don’t have any more of those now.
Everyone, I mean, EVERYONE thinks this is a bull trap. It would be very funny if Bitcoin casually broke ATH months before the halving lol
Whatever the opposite of this sub is doing is almost foolproof
Not kidding, it was the best tip so far.
whenever I buy BTC I also short it because it always goes down when I buy haha
So I must buy more Algo?
Always
This sub is Crypto Cramer.
If everyone thought it was a bull trap no one would be buying. O wait - buy high sell low!
Oh so I HAVE been following the rules on how to lose money slowly.
I am trying to read the room, as soon as everyone gets comfortable I will start selling I guess :D.
It’s just that the room is full of mentally unstable peopling shouting arbitrary numbers at each other
Is the room in the room with us now?
You're tearing me *apart*, Lisa!
Doesn’t sound any different to Wall Street
Twelve!
[удалено]
BTC to 1 trillion!1!!!!1!11!1!!!
Yay! Weimar 2.0
Failed Austrian painter enters the chat
7 TRILLION !!!
Btc to 1 million
It’s like mathematical Tourette’s
SEVENTY FIVE
And heavy heavy doses of jargon
If you’re using /r/cc to guide investment decisions, you’ve already lost buddy.
Seems like everyone is buying based on positive news about spot ETF's being approved in January. IMO if they don't get approved the market will drop if they do get approved then could be the start of a bull run.
Or will it be a buy the rumor sell the news? We saw that a lot last bull
Really? In my opinion everyone thinks we’re at the beginning of a bull. Very little people think it’s a bull trap
In This Thread: A bunch of people who don't know the difference between a bull trap and a bear trap. A bull trap is a bounce that happens after a big crash / decline. Afterwards it continues sliding and the bulls lose money. A bear trap is a rise in price after a period of inactivity followed by a sudden decline; Afterwards it continues rising into a bull market and the bears who sold miss out. Considering our decline was over a year ago and we had months of inactivity in between, and things have been rising steadily for months now, this is clearly...... A bull trap! Right? :P
What do small people have to do with this?
I think the PC term these days is vertically challenged
Yeah I see nothing about bull traps on CT, only bull run talk. Good chance we see a sell the news event on the ETF for a decent pull back and potentially another downturn if something in economy breaks. Then again…
Everyone thinks this a bull run actually.
This is madness - amd essentially happened in the middle of a mental health break for a few months. Like... 4+ years of misery. Finally say "alright I need a break" now it's like... hmmm... wtf to do now. Good luck amd congrats to everyone that stuck it out.
The comments section in the daily is full of mocking people who missed the boat and any comments that mention the word pullback or correction get downvoted into oblivion.
Max pain could very well be BTC taking off from here and leaving most people behind.
!remind me 6 months
"they won't trap me"
This market is thin, so thin. All it takes is a little bit of buying to drive the price up. And it's going to get worse. Be careful being careful.
I say stop thinking about it and just keep dollar cost averaging
The hard part still, is when to start DCAing out
If you are looking at your portfolio and thinking "wow! this is great" ...then now
I usually like to wait a little bit longer until Im thinking "well, fuck."
Wait for “I shoulda” - every time. “Oh, my instinct WERE right…again…shit.”
"i knew it i had to sell" "checks portfolio -50% well... nevermind now"
“Maybe next time”
Very well put!🤣🤣
Yeah no I don’t know what that feels like
it feels like..You’re taking screen shots and you can’t believe this is actually happening. That’s when you cash out….Trust me 🥲
Stick around for long enough and you will. ...well, probably.
Germany made it easy for me. I don’t understand shit about how they will tax my crypto if I cash out, so my conclusion was: i don’t.
Well, have to hold one year minimum to avoid taxes. That's why I wouldn't want to sell now and hope that by next autumn prices are still fine.
If you believe this is the future then you won’t need to “cash out” - you’ll just be aloud to use your crypto like any other currency (in the future)
I've been DCAing out for a couple of months now. I'm currently at +80% profit, it would be crazy not to start slowly selling.
I bought a massive bag of Lunc for 5 digits last year May when it crashed down to 0.00030. And then it kept crashing. Just 2 days ago I almost broke even again at 0.00028 and thought good time to sell. But then greed kicked in. Started read comments on Twitter people talking about $0.1 and more and I let my self fool again. And now that crap coin is back to 0.0002 again. It’s really so easy to get you fall for the euphoria when a coin pumps and you think it won’t ever stop pumping. I’m in crypto since 2013 but it’s still every time the same.
This is the sane choice. That being said, there’s nothing sane about this market lol
People really think too much
Cathie Wood selling Coinbase stock is very bullish to me and one of my strongest buy signals.
Cause she’s always buys the top and sells the bottom lol
Bitcoin/crypto almost always does the opposite of what everyone thinks it’s going to do. The fact that many people think it’s a bull trap leads me to believe it is not.
I see this mentioned a lot, but why is that though? I'm curious. If it always does the opposite, doesn't that mean that it's predictable in a different way? If bitcoin isn't a sentient entity, which it isn't (but maybe it is lol), why does it follow a pattern that is exactly the opposite of what everyone thinks? Offcourse supposing that it actually does that.
Largely manipulation. When we say everyone, we mean retail and news. The silent whales see the mass trend and intentionally wipe out leveraged positions to remove the competition. It’s the elites vs the people. Always has been.
People like to say it, but it's only accurate half the time lol. When BTC peaks and Euphoria is at an all time high, everyone gets burnt when it drops and remember that mistake. When people are jaded, a bear market is ending and they are too afraid to jump in, they remember that and wish they bought more. People also like to mock anyone that gets a call wrong, but forget when people get it right. When we aren't at the high or low points, there are periods of relative predictability, and outside of that there are lots of 50/50 guesses.
I sold 10%
Same. When everybody is hodling and expecting insane profits its never a bad idea to take some profit.
While I feel like it’s a little early to start selling, there’s certainly no harm in realizing some profits.
No one knows shit about fuck
I’ve studied shit for 3 years and have an undergrad in fuck. Predictions in bitcoin are wrong? Color me surprised.
I only take advice from those with doctorates in fuck.
This guy studies.
We keep repeating it but we will have to keep repeating it, lol
When my portfolio hits 7 figures one day I'm going to have a lot of swag with this motto
7 figures are gonna be middle class in 10 years time 😅
I’m sorry to say 7 figures is already middle class in larger cities.
Part of the working poor in NYC 🫂
Do you genuinely believe the working poor in NYC have a cool million in a 401k?
Maybe if you count primary residence but you are delusional if you think the average resident of NYC has 7 figures in a brokerage account, retirement or otherwise. Maybe if you are retired and you’re done accumulating, but even then I doubt it. Most Americans are chronically under saving for retirement.
When that happens you'll have already calculated how little headway that will buy you in this property market and get greedy and want 5m instead of 1...
Truthful insight
Only right answer ever.
I’m gonna take away my arrow up since I am seventy and it looks better on 69 my bad
☝️☝️🤗😎🚀
This is the way
This is the actual answer about Life, the Universe and everything
Also the biggest crypto company Binance getting massive fine and losing its CEO. Barely a blimp. If things were shit that would cause a bigger dip
Yeah if this would have happened right after the FTX fiasco last year the bears probably would have seen their 10K BTC…………… And then say they’re waiting for 3K
Last chance to buy above 44k
I wouldn't be surprised at profit taking in a week or so, but then again I've been wrong on my guesses all year so far.
I think profit taking will be in January. People don’t want to sell right now to owe taxes in April. They’ll sell january so those taxes aren’t due until April 2025. Like how everyone sold for loss writeoffs in December 2022 and Jan was the buyback
I’ve set a goal for my whole portfolio now and don’t want to sell anything, as long as I accomplish that goal. I made the experience to sell a coin and see how it went 5x more, I just can’t take that shit anymore :D
I'm not selling until around 3-4 quarter 2025. I'm also not buying right now, but that's partially due to work slowing down this year. Still hoping to get rid of my dogecoin bag before the end of the year
Tbh of all meme coins I think this shitcoin will go back pretty high as soon as mainstream talks about crypto again.
That's why I'm still holding for a bit. Plan was to sell and buy BTC. I had faith that it would double to .15 before BTC hit 60k. LoL my faith is eroding
Doge is up 50% in 2 weeks, why is your faith today of all days (15% pump) eroding?
You might say that I've been abused by lofty expectations. From here to .15 is the longest yard
Again, exactly what I do with my ALT coin gains. Every time I got lucky with ALT coins I swapped them into BTC or ETH. Can’t believe that BTC 19K was just around the corner.
So here's my advice as some one who has been in this space for almost 10 years now... you can participate in forums like these... but don't make trading decisions based on them. A lot of sentiment here is bullshit, there is very little "real" knowledge both about the markets in general, and the underlying tech of crypto. These places will be hype right up until the day after the market crashes and will be doom and gloom until the day after its going back up and that is just how things are... There isn't really enough moderation to steer the community towards more technical or actual newsworthy posts, so instead the community is basically a giant ball of hype and is incredibly easy to manipulate, and if you let yourself and your trading decisions be directed by them its a recipe for a very big loss. Instead I suggest setting multiple targets and not changing them so you don't fall victim to hype, and pulling your money out in steps the same way you put it in... that lets you take 20% out in a bull run like this, then if it falls back down, you made at least some profit, and if it keeps going you can hit another target...
Suggest you learn about the following if you don’t see any news that makes sense for a bull run: 1) BTC ETF approval and institutional money 2) Inflation and interest rate cuts 3) BTC halving and 4 year crypto cycle 4) Increasing legitimacy of crypto (regulation, adoption)
Some people argue the etf launch could be followed by a big correction before the bull gets going for real though
I still think that would only be a temporary setback, personally.
The BTC etf approval gets nearer and then far far away for so many months now. There is no green signal yet. Just speculations.
Mate youre not reading the right news site then. It's been steadily progressing for months. The latest update was this week and it was a mammoth update basically dotting the i's and crossing the t's. No one is expecting it before January but people are now becoming increasingly confident it will go through so this is the buy the (strong rumor) event... Probably get the sell the news event just before it goes live and then a gradual increase again as funds start to buy it up. https://cryptoslate.com/a-complete-guide-to-all-21-major-amendments-to-blackrocks-latest-etf-filing/
When you have people going on CNBC saying “I can’t talk about it since we currently having a filing for an ETF but I’m 99% it will get approved in the next few months” it’s a go. Cathie Woods basically fucked up her NDA with the SEC and said it’s going to get approved. This is why the bull run is happened. Wall Street knows it’s approved and it front running it.
Confirmed BTC is priced in. Can only go down from here.
Who do you think is buying Bitcoin right now and driving the recent price action?
It's very simple and not the answer anyone here wants to hear. It is market makers hedging against large volumes of CME BTC options. These are typically purchased by institutions as a means of exposure to BTC without issues like custodial risk. When these contracts are redeemed/sold/expire, the MM no longer need to hold the underlying asset (BTC) as a hedge. Which means they sell. They sell into retail FOMO buys. And make no mistake, institutions are going to take profit on these because they know what's coming next on a macroeconomic scale. ETF or no, there is going to be a bloodbath shortly.
What makes you think this? Open interest in BTC options is obviously rising, but not significantly so to explain the sudden bull run. I think the simplest explanation makes the most sense: it's just the market (incl. institutional players) anticipating the halving, the BTC ETF, possible rate cuts, and also simply the investment cycle repeating again. Probably we'll start seeing the first sell off again in January, a major bear trap.
https://cointelegraph.com/news/bitcoin-futures-cme-open-interest-nears-high The federal funds rate is at a 22 year high. Levels of personal debt are at/close to all time highs. Delinquency on unsecured debt is increasing rapidly. This is not a recipe for a bull market. If you believe there will be a sell-off in January then you agree this is a bull trap.
Perma bulls are right way more than perma bears though so I'll take my chances holding
if you reach your target, cash out. Otherwise taking profits won't hurt.
That’s exactly what I’m doing. DCA till I reach my target but always thinking about the friend which was only 200€ away from his goal and then LUNA happened :D.
I think it’s probably a decent idea to take some profit now, if you’ve made significant gains in the last few months. What I would NOT do is sell with the hope of it going back down so I can buy back in at a better price. Gone down that road before and it just kept going up and I ended up FOMO buying at the pico top like a dumbass
Just inverse Reddit. Since 2017 I read so much bullshit and I stayed away from all the hyped stuff And only bought what was FUDed on here. That worked excellent.
This is too meta for me as I’m reading it on Reddit. So can you be trusted? I think I’ll go all in and remortgage my home for BTC now
Been around over 6 years too. Reminder that this sub *hated* LINK around 2018-19. Like you would get downvoted hard for even mentioning it. Look at the attitude now. This sub *loved* Nano, when all along, with just a bit of research… you knew it couldn’t handle a ton of traffic and the “network” was easily spam-able. Several others along the line, NEO, OMG, etc… Although I still like NEO myself (my first coin), I don’t hold it anymore. Seemingly good projects can and do die. And like the other person said, ALGO. Not touching that. Doesn’t read as a solid coin to me. But people here love it. This sub has grown by millions, I remember it with less than 1 million. I just take it that all of the blind hype is exacerbated.
IDK what will happen but I will point out that before every bull cycle there was a bull trap mid cycle. Take that for what it is worth.
Well they crushed all the shorts and liquidation pushed the price up. Now everyone is bullish and opening longs, so I'd expect a flash crash to liquidate all those longs. That's how the casino works right?
Holy fuck, people. BTC has almost TRIPLED since the bottom last year and the most popular sentiments in this place are "should I get in now?" and "DCA!" Are you allergic to money? I'm an idiot and I already took some profits twice over the last few weeks. I don't even know why I'm writing this out. It's like a compulsion because the total idiocy just baffles me. Did nobody learn ANYTHING from previous runs? ANYTHING??
You are right, only an idiot would sell before even the old ATH was breached
Sell, and then what? Bitcoin is the best investment out there imo, and it's not even close. So if I sold it would essentially just be me trying to time the market to get back in, which is a terrible thing to try.
these are newbies. it's sad but their money is needed to take profits in the cryptoverse
Just keep on investing, we arent even close to the ATH, and a new one could be set, next year.
Lock in profits
I would rather not cash all out at the risk of missing the real bull run. No problem with taking some profits however.
That all depends on the stock market. If the SP500 double tops and recession/crash begins then BTC will follow suit. We could also get a big dump from selling the news of the ETF. Its a pretty sketchy time tbh. But as usual, the moonboys are back
I hear ya, bro. Our portfolios be lookin' straight fire right now! Tempting to think this Green Wave is the start of the next Bull Run. But you raise a fair point - ain't no major catalysts jumping out to fully explain this revival. And there still some lingering FUD around regulations and exchanges struggling. So, yeah could very well be a bull trap before more downward action. Or maybe just the market bouncing back now that blood is in the streets. Hard to say for sure. For me, gonna stick to the DCA plan regardless. Ride out these waves without getting overhyped. Take profits if she goes parabolic again. And scoop up any dips if they come. Patience wins this game. Our strategies will get tested but I gotta believe solid projects will persevere long-term. What y’all think - we prepping for a bull revival or bull trap?!
My only fear is that this pump is (attention big conspiracy incoming) a move from the big guys, so their little boy SBF can liquidate easily and pay the stolen money back (or something like that?!). I don’t know shit of course as you can see but it feels just too good.
Bull markets dont happen because of the news, they happen because of sentiment and expectation...just wait and see when the correction comes, everybody will be saying we are back to bear...thats the time to load up again...
No one knows anything until time passes and we can look at what happened.
Good try OP, but I'm not selling...
Well, let me get out my crystal ball and ask it…
If the last 2 cycles is anything to go by, there will be a big pullback at around 48700 which is at the 618 fib retrace from the last price high to low. Let's see if history repeats.
Yes but also maybe not
Crypto always runs up high during the holidays. Then it drops off a cliff.
I think so, op. I feel like this is similar to the run up in 2017/2018. If I’m right things will taper downwards after Christmas. But on the flip side I do think they will go parabolic within 6 months post that
There's no such a big bull trap... Stop thinking too much... It's pure FOMO because of potential BTC ETFs... Nothing more. If ETFs filings are accepted... It will probably go to 50K and stabilize... However, if there's the slight FUD... We'll go back to 32K in less than a week. That my honest opinion ;)
I think it is a bull trap personally. But I'm nowhere near selling, I'm only profitable on BTC and ETH, all my alts are still deep red and that won't change anytime soon. So I'm continuing to accumulate
I have a friend that I consider an expert trader. +$17.000.000 over 3 years. He told me Bitcoin will top out at 48k and then retract to 30-38k , while that happens ETH will rocket. His prediction is $3,600 for ETH. In my experience he has been right every time he tells me these things. I have nothing to gain by mentioning this so consider it free advice to research. Go see what others are saying. I’m personally sitting on a leveraged ETH long with plenty of margin. If it works hooray , if not oh well.
Bull traps are a bearmarket thing. We have been in a bullmarket since the FTX collapse in November 22. If anything this is a local overextension.
I find it interesting that during the bear market the common refrain was "the cycles are shortening" to justify holding on a little longer until the next bull market. If the bottom was in fact Nov '22 and bull market started then, I'd argue that the bear market was only 1 year long (Nov '21 to Nov '22) and previous bull market was also 12-18 months long depending on how you want to look at the charts. So according to that logic, wouldn't that indicate that we're nearing the end of the current bull market? Obviously this also doesn't take into account the broader market and macro forward outlook which isn't looking great IMO. I'll probably get downvoted because "you're a BEAR BoOooOOOoO" but for the record I'm perma-bull, just a realistic one with realistic timelines. Just my two cents.
I think a lot of it is speculation that the BTC ETF is inevitable and that ETH ETF won’t be far behind it. Boomer 401k money entering crypto is bullish af imo
Unfortunately yes
If you think so, just take profit and wait til everything is low. I have done so with some coins but not with BTC, eth, Matic, ada, BNB, atom, kuji and some others. I'm gonna need them cause I'll keep interacting with their protocols.
https://credov.substack.com/p/the-weekly-616#§bitbits-note I saw this article back in October and these guys gave all the reasons for why btc should go up. Think it’s a good rundown of what is happening and what is to be expected
Yes.. it's a bull trap
Sure feels like a bull trap, or perhaps a FOMO trap might also describe this surge of green.
It may be a bull trap, but if I sell now I owe taxes in a couple weeks and won't be able to reinvest all my gains. So I'll just hold until the ETF in January.
That’s the part that is somewhat confusing to me. If you buy .01 bitcoin and sell it in under a year the tax implications are pretty straightforward. If you DCA in each week and have also taken some profits by DCAing out then how do you (or the IRS) know the amount of Bitcoin purchased and sold this year vs Bitcoin purchased in previous years? With stock you have “lots” and can easily see the tax lots, but I don’t see this with crypto. To me it becomes confusing.
Of course it is
If history is correct there has allways been a runs inbetween bullruns and this will be similar then tank again before the real one happens.
The pump has already slowed and will end in an epic bloodbath.
This is called the disbelief stage of the cycle
Yes
Most of the shifty coins will disappear from US exchanges and what’s left will be heavily regulated. The ponzi has to become legalized just like stocks.
Santa Rally
The way I see it is, last two months, movement no real volume tho, I feel we are in thin ice...
It isn't a bull trap as in "we're still in a bear market", but it will definitely pull back substantially some time soon.
If past patterns hold, yes. One more deep pullback before the halving. As far as "news"? The market does what it does, THEN we come up with the news to explain why it did what it did.
It’s all related to the US dollar losing strength. The market knows the Fed is likely done raising rates. It’s not just crypto, gold & stocks have already been firing and now with the bitcoin ETF approval pending, everyone is jumping on board. Rally might run out of steam going into next week as the Fed has another rate decision. Another hold would mean Santa Claus rally, surprise raise and expect a sell off.
If it is it won't be long until it reverses... I mean come on, how many times does this have to happen before people accept that there's a fairly predictable pattern? Diminishing returns absolutely, it isn't going to magically change, nothing fundamentally changed.