Brunell4MVP
Footballguy
Here comes the rebound. ^^^
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Bitcoin-Explain to me how to buy these things (4 Viewers)
- Thread starter Sheriff Bart
- Start date
SFBayDuck
Footballguy
Needs to break through these prior highs, knocking at the door for like the 6th time this year.
Nathan R. Jessep
Footballguy
unless you bought last night at midnight, if you own BTC right now, you are officially in profit 
I do expect a pullback. I won't be surprised at a large one even (low to mid 40s) before it's said and done with for this cycle. The macro economy is just too shaky, IMO. We may still get another little run up here before that. But we haven't hit the big move up yet that many are expecting.
Just my
I do expect a pullback. I won't be surprised at a large one even (low to mid 40s) before it's said and done with for this cycle. The macro economy is just too shaky, IMO. We may still get another little run up here before that. But we haven't hit the big move up yet that many are expecting.
Just my
SFBayDuck
Footballguy
unless you bought last night at midnight, if you own BTC right now, you are officially in profit
I do expect a pullback. I won't be surprised at a large one even (low to mid 40s) before it's said and done with for this cycle. The macro economy is just too shaky, IMO. We may still get another little run up here before that. But we haven't hit the big move up yet that many are expecting.
Just my
Curious why you think that, just the macro (which is still really strong)? Flows into the ETFs are looking to break daily records today, which seems to be the biggest catalyst this year. And it finally broke the March highs, which would tend to indicate it could be ready to run if it holds here. Of course if it fails to hold after testing those highs multiple times, it could see a pullback.
Peyton Marino
Footballguy
15 years in and still doin it
Nathan R. Jessep
Footballguy
Because there are some serious cracks showing in the global economy structure. Can only bandaid that for so long before something breaks. We saw a little preview of it a few months ago with the Yen carry-trade deal and the fallout of that. Bank of America is in dangerous territory from what I am reading. Is the Fed gonna let BoA fail? Doubtful, IMO. And saving them is going to make the problem worse from the money supply end. It's all speculation at this point, but I think the groundwork is there for big problems, for all markets not just BTC. Of course, BTC not being a very mature asset, we have limited history to draw from, but thus far if you go back and look at where BTC opened the year each year, we came back to visit that or got pretty close to it. It's possible the August dip may have been the "pretty close" for this cycle, but given the macro expectation, I just feel like we are still going to see a big dip yet.unless you bought last night at midnight, if you own BTC right now, you are officially in profit
I do expect a pullback. I won't be surprised at a large one even (low to mid 40s) before it's said and done with for this cycle. The macro economy is just too shaky, IMO. We may still get another little run up here before that. But we haven't hit the big move up yet that many are expecting.
Just my
Curious why you think that, just the macro (which is still really strong)? Flows into the ETFs are looking to break daily records today, which seems to be the biggest catalyst this year. And it finally broke the March highs, which would tend to indicate it could be ready to run if it holds here. Of course if it fails to hold after testing those highs multiple times, it could see a pullback.
And yes we did break the March ATH, but barely. And only thanks to the election. The market seems to have soaked that in now. To think we are off the races, I'd like to see us either move away from this area first THEN come back to test it and hold OR just go full send
Nathan R. Jessep
Footballguy
nice! profits never made anybody poor
Nathan R. Jessep
Footballguy
I will add tho after looking some more today, tho futures activity is down some, spot volume seems to be up a bit and seems to be propping up price for now. If that holds, we may not get the dip. So it really might take a big black swan event to cause any kind of large pullback at this point. Place your bets...unless you bought last night at midnight, if you own BTC right now, you are officially in profit
I do expect a pullback. I won't be surprised at a large one even (low to mid 40s) before it's said and done with for this cycle. The macro economy is just too shaky, IMO. We may still get another little run up here before that. But we haven't hit the big move up yet that many are expecting.
Just my
Curious why you think that, just the macro (which is still really strong)? Flows into the ETFs are looking to break daily records today, which seems to be the biggest catalyst this year. And it finally broke the March highs, which would tend to indicate it could be ready to run if it holds here. Of course if it fails to hold after testing those highs multiple times, it could see a pullback.
SFBayDuck
Footballguy
Everything flying this weekend. My (small) Coinbase account with 5-6 positions is up like 35% in the past couple of days.
This is an example of the real downside of the ETFs (which I also own) - you can see huge volatility over the weekend and you can’t do a thing about it.
This is an example of the real downside of the ETFs (which I also own) - you can see huge volatility over the weekend and you can’t do a thing about it.
brun
Footballguy
Yeah, the ETF thing is true. I have ETFs in my 401k and one of my Roth IRAs. Just have to live with it I guess.
SFBayDuck
Footballguy
Same, have them in a couple of Roths. I don’t think I would do anything this weekend as this rally might have some legs, but had me thinking about the limitations.
FreeBaGeL
Footballguy
I know people hate Robinhood, but they do have IRAs where I believe you can buy the actual crypto instead of the ETFs. Not your keys and all that so not 100% ownership, but much closer to it and you can swap it 24/7.
brun
Footballguy
Yeah, I have a Roth with ITrust Capital. Not a big trader. Mostly hodl right now, but sometimes move between bitcoin & Solana. Not smart enough to frequently trade alts and memes. Just following the S2F model so probably exiting around a year from now.
Sand
Footballguy
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brun
Footballguy
84.7k
It's a thing now
Sand
Footballguy
This thing is gonna crash so hard.84.7k
It's a thing now
Nathan R. Jessep
Footballguy
It will indeed pull back, but barring a black swan type event, we aren't going there right now. Right now people are steady trying to short what they think is the top, and retail is BUYING the FOMO. Liquidity keeps appearing in droves just above price, and the market makers are just eating their lunch. Rinse and repeat. It will pull back when enough builds below price that the market makers decide to go for that instead.This thing is gonna crash so hard.84.7k
It's a thing now
Peggy
Footballguy
You can sign up for a Fidelity Crypto account that lets you trade in your IRA/Roth. Charges a transaction fee up to 1% though.
Sand
Footballguy
Yeah - I meant the exuberance here is way over the top. This has a -15% week written all over it, though long term I do think this pushes up from here.It will indeed pull back, but barring a black swan type event, we aren't going there right now. Right now people are steady trying to short what they think is the top, and retail is BUYING the FOMO. Liquidity keeps appearing in droves just above price, and the market makers are just eating their lunch. Rinse and repeat. It will pull back when enough builds below price that the market makers decide to go for that instead.This thing is gonna crash so hard.84.7k
It's a thing now
jb1020
Footballguy
I finally have "All" of my claim from Blocking back. I can't remember if I updated you guys or not. They basically gave us back the value our account was at when they went under, not our coins, but the value our coins were at.
I had .5 BTC and not have .16. Same ratio with the ETH. While I'm still way under, I'm well above my initial investment. I'll take it as a hard lesson learned.
That being said, I'm sitting on some other positions I'm upside down with, Matic, Link, XLM, XRP. People that have experienced 2 bull runs in crypto, is it safe to assume these will recover and get at or near their previous ATHs? Nothing is guaranteed, but I'm still down 30-40% with some of these coins.
I had .5 BTC and not have .16. Same ratio with the ETH. While I'm still way under, I'm well above my initial investment. I'll take it as a hard lesson learned.
That being said, I'm sitting on some other positions I'm upside down with, Matic, Link, XLM, XRP. People that have experienced 2 bull runs in crypto, is it safe to assume these will recover and get at or near their previous ATHs? Nothing is guaranteed, but I'm still down 30-40% with some of these coins.
Nathan R. Jessep
Footballguy
Yep, agreed. I think there will be a pretty healthy liquidity flush sometime this week. (my guess is Wednesday AM or Thursday AM), then we will continue up. Liquidity starting to build a bit below price currently, but still heavier above. Send itYeah - I meant the exuberance here is way over the top. This has a -15% week written all over it, though long term I do think this pushes up from here.It will indeed pull back, but barring a black swan type event, we aren't going there right now. Right now people are steady trying to short what they think is the top, and retail is BUYING the FOMO. Liquidity keeps appearing in droves just above price, and the market makers are just eating their lunch. Rinse and repeat. It will pull back when enough builds below price that the market makers decide to go for that instead.This thing is gonna crash so hard.84.7k
It's a thing now
Nathan R. Jessep
Footballguy
Traditionally alt season doesn't start till BTC comes close to topping out for the cycle. BTC > ETH > Alts is kind of the path to alt season, at least historically. Maybe a few one-off pumps here and there on some alts. I have small positions of all of the ones you mentioned, and am just holding and hoping. Although XRP has been performing more like a stablecoin
Right now, Bitcoin dominance is surging, so it's sucking up all the money out of the space. Once that turns, then we look to see if money is flowing to USDT (people just cashing out) or to ETH (taking BTC profits and buying ETH before it really pumps) or to other Alts (alt season).
Some think we may not get an "alt season" like before which is also possible. I'm really just looking to either recoup my initial investment and set some targets to take profits or on smaller positions just call it gambling money and let it ride.
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brun
Footballguy
FWIW - As I understand it. Fidelity Crypto allows you to buy or sell within the account. It doesn't allow trading, sending, or receiving crypto. As I think about it, this makes sense for any IRA account.
It's hard to tell but I think the only crypto available in this is bitcoin and ethereum, maybe litecoin too.
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urbanhack
Fight The Power!
This is where I'm at pretty much. I think I dumped in $20k over the last five years and I've now made some cash with this little run.
Nathan R. Jessep
Footballguy
BTC NINETY ONE THOUSAND UNITED STATES DOLLARY DOOS
psychobillies
Footballguy
That was so one hour ago.
Sand
Footballguy
At some point you have to just do the WTF shake of the head. This is nutso. But I'm glad I have some BTC and ETH stashed away. Obviously not enough (same as when I bought AAPL 20 years ago!).
Nathan R. Jessep
Footballguy
This move isn't done. People are steady trying to short this! Liquidity just keeps building above price. Insanity.
FreeBaGeL
Footballguy
Elon's new department in the US government is the D.O.G.E.
The president released his own ****coin.
The government is in full on crypto meme mode. If DOGE ran 800% in a day when Elon mentioned it on Saturday Night Live, how much is it going to run when the it gets mentioned in a state of the union address?
I'm just enjoying the ride for as long as it lasts. I don't really see a ceiling in this current environment. Feels like we're on our way back to full-on 2020/2021 risk-on mode.
That point was probably somewhere between bitcoin's value rising 10,000x (to $1,000) and 100,000x (to $10,000). In that context, the recent run-up is nothing.
Andy Dufresne
Footballguy
I'm glad it's taking the dabbling of Solana and Cardano with it. I'd just like to get back what I lost on those.
Nathan R. Jessep
Footballguy
When BTC momentum slows down some, some of these alts are going to go parabolic. A handful did this past weekend with just a minor BTC correction.
Captain Cranks
Footballguy
Pretty sure he crashed it when he mentioned it on SNL.
Nathan R. Jessep
Footballguy
PEPE and DOGE both pumping... just TPd for the 3rd time on PEPE - there's a sentence I'd never thought I'd type 
Captain Cranks
Footballguy
SHIB, WIF, FLOKI, BONK, and BOME are relative laggards that I'm sure will have a turn.PEPE and DOGE both pumping... just TPd for the 3rd time on PEPE - there's a sentence I'd never thought I'd type
jb1020
Footballguy
SFBayDuck
Footballguy
The ETF flows continue to be off the charts. $IBIT just destroyed the record for fastest to $40B in assets.
FreeBaGeL
Footballguy
Thank you for your sacrifice.
b-snatchers
Footballguy
Sort of a dumb question as I have never withdrawn any of my crypto before. I have some on kracken.
When I want to withdraw lets say ETH to my bank account, do I have to first convert it to a stablecoin or should I be able to withdraw it right to us dollar to my bank accouint
When I want to withdraw lets say ETH to my bank account, do I have to first convert it to a stablecoin or should I be able to withdraw it right to us dollar to my bank accouint
FreeBaGeL
Footballguy
You will need to sell it to USD (fiat, not a stablecoin), then withdraw the USD.
b-snatchers
Footballguy
Ok thanks! I think the thing I was getting confused on is selling vs withdrawing. That makes a lot of sense
Brunell4MVP
Footballguy
Partial sell off of mine today. Took some nice profits. Could go buy a Rolls Royce with it, but more likely gonna stick it into the S&P 500 fund w my other crap. 15% tax rate is an annoyance, but not as much as the ridiculous transaction fees ... even using Coinbase Core to offload. I'm just getting too old to play with this money, and even more worried about croaking and my wife/kids having no idea how to get to this stuff. Most of it was bought 5+ years ago. If it was in an ETF I'd feel better about them getting easy access to it.
SFBayDuck
Footballguy
Nice, congrats! Totally get the complexity thing - I own crypto at Coinbase, Coinbase Wallet, PayPal, Fidelity Crypto, and via ETFs in Roth accounts. Everything but cold storage.
Brunell4MVP
Footballguy
I moved the cold storage stuff into coinbase a while back. But even then trying to explain to my wife that can't scan from her own printer how to get into multi-authenticated Coinbase especially if my computer goes down with me is a real pain. ETFs are the way to go these days. I don't like em because their bots determine sells and buys, and to me that doesn't really represent what crypto was meant to be. It's now a commodity like oranges moreso than a currency. But it is what it is. The taxes and fees to get this stuff out are really a tough thing to manage....whether its crypto or retirement savings. Have to move it piece by piece. So that's the plan. Move partial amounts year by year.
I wonder how much crypto is out there that has essentially been abandoned. Whether it was on hard drives, lost, people couldn't get to it, stolen, death, etc. I have to think the value of abandoned crypto is astonomical.
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