Bitcoins/Litecoins/Virtual Currencies

Digital Jew Gold is going to turn this around!

BTC rejected on the first attempt to retake 31k. Gathering itself for attempt #2.

edit: broke through on attempt #2

edit 2: preparing for the assault on 32k

Looks like BTC is consolidating at 32.5k before trying to push towards 33k. This might be the easiest 10% gain I have ever made.

Sold all my BTC at $32,500. Janet Powell is speaking to Congress at 2pm. That is a big unknown. 7% profit after fees for a couple of hours of risk.

Sanrith Descartes said:

BTC 32.4k

Edit 32.6k now..did Rajaah sell or something?

32.9k

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I've been out of BTC since like March or April. I got in at 33k in January and out at 61k whenever that was. It reached an ATH of 65k or so and I almost bought back in but didn't, then it began the long slide. BTC actually bucks the trend of things crashing once I grab them. It made me a lot of money that I then divided up into other categories (and watched mostly evaporate in May). Then again, BTC was also the first thing I got, so maybe the universe was just suckering me in for more pain.

It sounds like you're hoping to do something similar with BTC bouncing off 32k and rocketing up. The thing is, at the time, it got a lot of momentum/propulsion from the GME/AMC crowd and WSB. People were looking for something new to buy into and crypto was RIGHT THERE to scoop up those tons of new people with their stimulus checks and wintertime indoors spending money. It was a perfect storm. You're not going to see that happening again right now with FUD, summer historically being a low point for crypto since people are doing other things with their money, etc. At absolute best short-term I think it could rebound back to 40k, and it's more likely that it'll hit 25k first. But I guess we'll find out.

Rangoth said:

Isn't Rajaah The dude who constantly gets margin called and buys high and sells low?

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I've never been margin called, I just have a habit of things diving right after I get them. Most notably Doge, which took a dive both times that I bought into it. The first time I bagheld for a while, then when I finally sold, like a week later it had its massive upswing. There have been other things too. I just have extremely shitty luck.

I'm of the belief that along a five year timeline all of these things are going to have peaks and valleys, with the largest peaks probably coming around the next Bitcoin mining halving (so 2024 or 2025). Basically I gave up on swing trading and now I'm just holding to see what things look like in 3-4 years. Buying more during this summer depression is probably a good idea if that's your overall plan.

Sanrith Descartes said:

Sold all my BTC at $32,500. Janet Powell is speaking to Congress at 2pm. That is a big unknown. 7% profit after fees for a couple of hours of risk.

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The words Janet Powell fill me with existential dread now

Rajaah said:

I've never been margin called, I just have a habit of things diving right after I get them. Most notably Doge, which took a dive both times that I bought into it. The first time I bagheld for a while, then when I finally sold, like a week later it had its massive upswing. There have been other things too. I just have extremely shitty luck.

I'm of the belief that along a five year timeline all of these things are going to have peaks and valleys, with the largest peaks probably coming around the next Bitcoin mining halving (so 2024 or 2025). Basically I gave up on swing trading and now I'm just holding to see what things look like in 3-4 years. Buying more during this summer depression is probably a good idea if that's your overall plan.



The words Janet Powell fill me with existential dread now

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Arden said:

One of the two alts I have has an extremely strong use case and I'm not really worried about it surviving. The other I have theoretically has a very strong use case, but I'm a little less confident about it surviving a crypto winter.

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Which one is VET?

I've got the most confidence in VET and MATIC as far as the alts go.

Sanrith Descartes said:

Yep.

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And sooner or later that spider will die too. Wow, now I'm depressed.

Ravishing said:

I got eyerolled by the crypto fanboy in here but...



I agree 24K is likely. I'm kicking myself for not selling at 41K last week, now I'm bag holding. It's not a huge sum but eh, there should be more opportunities. We're going to be bouncing around this range for the next few years.

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Yeah, I've resigned myself to basically baghold for a while.

One way to look at it is that at this point I paid about 20% of my money (current dip level) to lock up the other 80% in a place where I can't take it out (due to dip). Makes me wish I'd just left that money in the bank.

Another way to look at it is that in 3-4 years I'm gonna be really happy I did all of this.

Jackie Treehorn said:

Digital Jew Gold is going to turn this around!

Israel has already tested a digital shekel cryptocurrency

The concept of issuing such a currency has been in discussion since 2017, but it decided to accelerate its research and preparation for the potential issuance.

m.jpost.com

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In other news... my boy MJF has launched his own crypto and it has shot up lately, completely against the grain. MJF has a huge future ahead of him any way you slice it, homie is headed for stardom. Not surprised that people investing in him quickly turned into a gravy train. Until AEW goes public, this is probably the closest thing the fanbase has to investing in the company.


Check out the activity tab. This crazy nut might just be onto something. Lot of volatility but it's still more than 2X what it started at.

Arden said:

Matic is the first one I mentioned and VET is the second.

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That's what I figured. I feel the same way about both. I'd like to see VET do well but I'm not getting the impression that its buyers have a lot of faith in it compared to MATIC.

James said:

Great time to be an LP on Uniswap, with about 5k in the 1% TRU/ETH pool I'm getting ~500 TRU and ~.05 ETH per day.

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Jebus. I need to look into that myself. I've got plenty of ETH and Truebit connected to Uniswap already, sounds like I could be adding to it if I put it up for liquidity.

In other news Vechain dropped to 5.9 cents for a very short time today before bouncing back to the 7.5+ area. I wish I'd set a limit order to buy at 6 cents instead of 8. It's surprising me with the depths it's plumbing.

James said:

Yeah, definitely play around with V3 -- it's a LOT more complicated than V2, but you can concentrate your liquidity so much that it's worth it. On V3, your LP is on a curve, where at one end you are 100%/0% for one coin, and on the other you are 0%/100% for the other. The safest bet for exotic pairs is the ETH/USDC pool, but since it's so big you're not likely to collect as many fees per dollar provided with some of these smaller pools. The best way to use V3 is for stablecoin pairs where impermanent loss doesn't matter and you can concentrate liquidity at like .998-1.001.

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WTB how to.

[edit] I read the V3 docs, so adding a pool is simple enough. But, understanding price ranges, how to manage them, and what to expect would be helpful.

ETH literally sitting on the 200 SMA right now, haha.