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67 Pages«<6364656667>
Bitcoin: Does it have a future ?
snifadog
#1281 Posted : Monday, November 23, 2020 11:14:46 AM
Rank: Member


Joined: 6/6/2016
Posts: 161
Location: Nairobi
it's a bull market now, all I do is long alt futures but the game is tough. things don't go up in a straight line, pull backs can finish you off. well explained jones, however doing what you have written is very hard. it's the psychology that's hardest of all. my game plan is to allocate heavy into my preferred alts and hope for the best when the altseason comes. forget about DCA, now is the time to ape big into 2-3 coins, one 10x can set you up for life
Jon Jones
#1282 Posted : Monday, November 23, 2020 5:45:32 PM
Rank: Member


Joined: 9/11/2015
Posts: 200
Location: Thika
snifadog wrote:
it's a bull market now, all I do is long alt futures but the game is tough. things don't go up in a straight line, pull backs can finish you off. well explained jones, however doing what you have written is very hard. it's the psychology that's hardest of all. my game plan is to allocate heavy into my preferred alts and hope for the best when the altseason comes. forget about DCA, now is the time to ape big into 2-3 coins, one 10x can set you up for life

True. If it was easy everyone would do it and very few people make money long term in trading. Those that do make millions.

You trade altcoin futures?d'oh! You are a braver (more skilled) man than I. I trade altcoins but without leverage. The only futures I would trade are bitcoin futures. Alts are twice as risky because there is coin-specific risk and bitcoin risk. That's two layers of risk to deal with, which doubles your chances of getting stopped out even when you spot good set-ups. If it works for you longterm congratulations. I might borrow some tips. Personally, I will only start trading altcoin futures when they decouple from bitcoin i.e when bitcoin risk ceases to exist. As of now, if bitcoin dumps, 99% of the alts dump too so it's not a game I would risk playing with leverage.

DCA is not a strategy Laughing out loudly Laughing out loudly . It only works during the early stages of a bull market. The problem is, nobody knows how long a bull market will last. Imagine people who dollar cost averaged alts in Dec 2017 they are still underwater 3 years later. DCA is the type of knowledge availed to the retail market. It won't make you money unless you are very lucky to invest early in a bull market. In other words, you are putting yourself at the mercy of the market.

2-3 coins can offer massive gains, or a massive drawdown. That's extremely poor risk management. Laughing out loudly Laughing out loudly . On the flip side, you can hit a home run for the same reason (poor risk management) which then reinforces bad behavior because you get positive affirmation for poor risk management. So, don't try it with your life-savings. I will tell you a short story that happened about 2-3 weeks ago. I had a position on a coin STRAT on binance. The coin announced a migration to another chain or something (I'm not blockchain tech savvy). Trading was postponed for a week or so. When trading resumed, the coin crashed like 50% and was trading under a new ticker symbol. Now, imagine if I hadn't managed risk well. That would have been a 25% drawdown if I had the entire blockfolio in 2 coins. Shitcoins also get hacked often etc and unless you are an insider, you never know the integrity of the developers.

I would ask any trader, before they begin trading, whether they have a strategy with a positive expectancy/statistical edge, because that's the only way to make money long term in markets. Trading is a mathematical endeavor. Any pro will tell you his win rate, risk-reward, and maximum drawdown. Anyone who can't tell you those figures is a typical retail trader/gambler. Gamblers make a lot of money but they eventually lose it to the house in the long run. Most retail traders who made money in 2017 gave it all back in 2018 and 2019. Everyone makes money in the short term. Only professionals make and keep the money long term.
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1283 Posted : Tuesday, November 24, 2020 3:20:18 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
rwitre wrote:
Jon Jones wrote:
rwitre wrote:
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly



Will you buy at 15k?? You're a braver man than I Applause


12 days later. $17,000 on exchanges.

In Nigeria: All time high at 8 million Naira (inflation caused this)

Meanwhile Citibank Analyst calling for $300k by 2021.

GrayScale holding over 500,000 BTC

Wyoming voted for Bitcoin enthusiast to U.S Senate.

Skybridge, Billion-Dollar Hedge Fund ($7.7B AUM) tells SEC that it may invest in digital assets like bitcoin

Network effect kicking in.
Profit-takers, shorters and miner selloff not enough to fill the buy demand.

......and Bitcoin has only been above this price point for 10 days throughout its entire history

Yes, it can crash 30% before breaching ATH. But what are the odds?



$19000.

Lol. There are no brakes on this thing. Laughing out loudly

Just a few more hundred dollars and it breaks the ATH.

And Bitcoin has only traded above this point on one day in its entire history. Ever.
Jon Jones
#1284 Posted : Tuesday, November 24, 2020 4:50:05 PM
Rank: Member


Joined: 9/11/2015
Posts: 200
Location: Thika
rwitre wrote:
rwitre wrote:
Jon Jones wrote:
rwitre wrote:
Jon Jones wrote:
longtrader wrote:
$14,800 and rising.....another 2017 run??


Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.


Cut through $15,000 like butter

Everyone is waiting for a dip to buy Laughing out loudly



Will you buy at 15k?? You're a braver man than I Applause


12 days later. $17,000 on exchanges.

In Nigeria: All time high at 8 million Naira (inflation caused this)

Meanwhile Citibank Analyst calling for $300k by 2021.

GrayScale holding over 500,000 BTC

Wyoming voted for Bitcoin enthusiast to U.S Senate.

Skybridge, Billion-Dollar Hedge Fund ($7.7B AUM) tells SEC that it may invest in digital assets like bitcoin

Network effect kicking in.
Profit-takers, shorters and miner selloff not enough to fill the buy demand.

......and Bitcoin has only been above this price point for 10 days throughout its entire history

Yes, it can crash 30% before breaching ATH. But what are the odds?



$19000.

Lol. There are no brakes on this thing. Laughing out loudly

Just a few more hundred dollars and it breaks the ATH.

And Bitcoin has only traded above this point on one day in its entire history. Ever.

I exited BTC too early. I had done my calculations and concluded that a further run above the 15k level was highly unlikely. Obviously, I was wrong. BTC had taken some steroids as alts were chilling in the blood basement.

The good part of the story is that I loaded up heavily on alts at the blood basement and ground floor when nobody wanted to buy. So, I have ended up performing better than I would have on the BTC trade Laughing out loudly Laughing out loudly

Now that we are in the seventh floor, the plan is to offload to the herd who will fomo in bigly in the twentieth floor and let them enjoy the free-fall back to the basement Drool

Moral of the story: DON'T LOSE YOUR SHIRT
Since men have learned to shoot without missing, I have learned to fly without perching
Jon Jones
#1285 Posted : Wednesday, November 25, 2020 9:58:51 AM
Rank: Member


Joined: 9/11/2015
Posts: 200
Location: Thika
I just had a stale block of trades. A stale block of trades usually happens when we are near a swing top. It is basically a number of trades (depending on how you size) that fails to generate a profit even when you have a strategy with a statistical edge. E.g, if you allocate 10% on each trade, and after 10 trades you fail to make a profit overall, that's a stale block of trades. I used 10 trades as an example for simplicity reasons. Either we will experience a strong pullback, or the market has topped for this cycle after 7 green weekly candles in a row. I will take a couple of days off from trading and see whether the market will show its hand. Remember it's musical chairs and you don't want to be standing when the music stops.

#DON'T LOSE YOUR SHIRT
Since men have learned to shoot without missing, I have learned to fly without perching
snifadog
#1286 Posted : Thursday, November 26, 2020 10:11:09 AM
Rank: Member


Joined: 6/6/2016
Posts: 161
Location: Nairobi
the market is hot now, this is not the time to take a break. total degeneracy encouraged! :D
Jon Jones
#1287 Posted : Thursday, November 26, 2020 7:42:09 PM
Rank: Member


Joined: 9/11/2015
Posts: 200
Location: Thika
snifadog wrote:
the market is hot now, this is not the time to take a break. total degeneracy encouraged! :D

Today retail got their nuts crashed. Laughing out loudly Laughing out loudly People never learn. A sea of red on coinmarketcap...double digits losses across the board.
Since men have learned to shoot without missing, I have learned to fly without perching
rwitre
#1288 Posted : Monday, November 30, 2020 11:12:49 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
Well November ends on a wild note. Applause

Jon Jones
#1289 Posted : Wednesday, December 09, 2020 10:56:26 AM
Rank: Member


Joined: 9/11/2015
Posts: 200
Location: Thika
Things might get ugly in a hurry for the rest of this month.
Since men have learned to shoot without missing, I have learned to fly without perching
Swenani
#1290 Posted : Wednesday, December 09, 2020 4:26:03 PM
Rank: User


Joined: 8/15/2013
Posts: 13,179
Location: Vacuum
Forgive my ignorance... but of BTC is an alternative/new currency to repace the centralized currency system aka federal/central banks, why are we using the centralized currencies to to buy and sell BTC? Can we buy BTC using BTCLaughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Pyramid scheme
If Obiero did it, Who Am I?
rwitre
#1291 Posted : Wednesday, December 09, 2020 6:08:03 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
Today in Bitcoin.

MicroStrategy Announces Pricing of Offering of Convertible Senior Notes

A $NASDAQ listed company $MSTR borrowing half-a-billion to buy BTC

Quote:
TYSONS CORNER, Va., December 9, 2020 — MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced the pricing of its offering of $550 million aggregate principal amount of 0.750% convertible senior notes due 2025

MicroStrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending the identification of working capital needs and other general corporate purposes


Will bitcoin end the dollar’s reign?

Global reserve currency top contender

Morgan Stanley Investment Management’s chief global strategist talking about Bitcoin potentially replacing the dollar as the global reserve currency

Quote:
In a recent survey, only 3 per cent of baby boomers said they own a cryptocurrency, compared with 27 per cent of millennials. Still, those numbers are rising, and there are reasons to think this bitcoin rush has deeper roots.


JPMorgan Says Gold Will Suffer for Years Because of Bitcoin

Shift in investment culture

Quote:
The Grayscale Bitcoin Trust, a listed security popular with institutions, has seen inflows of almost $2 billion since October, compared with outflows of $7 billion for exchange-traded funds backed by gold, according to JPMorgan.


BTC was a buy at $4000
BTC is a buy at $19000
BTC will be a buy at $50000

ngapat
#1292 Posted : Wednesday, December 16, 2020 7:39:13 PM
Rank: Member


Joined: 12/11/2006
Posts: 860
Btc defiantly and shamelessly breaks the 20k resistance.
“Invest in yourself. Your career is the engine of your wealth.”
Angelica _ann
#1293 Posted : Wednesday, December 16, 2020 8:24:21 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,788
ngapat wrote:
Btc defiantly and shamelessly breaks the 20k resistance.


Where are the charts Laughing out loudly Laughing out loudly Laughing out loudly
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
rwitre
#1294 Posted : Wednesday, December 16, 2020 9:55:01 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
Angelica _ann wrote:
ngapat wrote:
Btc defiantly and shamelessly breaks the 20k resistance.


Where are the charts Laughing out loudly Laughing out loudly Laughing out loudly


5 years from now people will look back and ask "How could you not see it? Bitcoin is so obvious!"


sparkly
#1295 Posted : Thursday, December 17, 2020 7:01:47 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,914
Location: Enk are Nyirobi
rwitre wrote:
Angelica _ann wrote:
ngapat wrote:
Btc defiantly and shamelessly breaks the 20k resistance.


Where are the charts Laughing out loudly Laughing out loudly Laughing out loudly


5 years from now people will look back and ask "How could you not see it? Bitcoin is so obvious!"





I can see it now but will not speculate on BTC even with a single cent. I would rather buy myself a $1000 whiskey, drink it, piss it than invest the same money in BTC expecting a return.
Life is short. Live passionately.
rwitre
#1296 Posted : Saturday, December 26, 2020 8:06:50 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
sparkly wrote:
rwitre wrote:
Angelica _ann wrote:
ngapat wrote:
Btc defiantly and shamelessly breaks the 20k resistance.


Where are the charts Laughing out loudly Laughing out loudly Laughing out loudly


5 years from now people will look back and ask "How could you not see it? Bitcoin is so obvious!"





I can see it now but will not speculate on BTC even with a single cent. I would rather buy myself a $1000 whiskey, drink it, piss it than invest the same money in BTC expecting a return.


Broke 25K on the 25th.
Attempting to break 26K on the 26th

Happy holidays Applause
Get your whiskey from @Sparkly

rwitre
#1297 Posted : Saturday, December 26, 2020 11:41:02 PM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
rwitre wrote:
sparkly wrote:
rwitre wrote:
Angelica _ann wrote:
[quote=ngapat]Btc defiantly and shamelessly breaks the 20k resistance.


Where are the charts Laughing out loudly Laughing out loudly Laughing out loudly


5 years from now people will look back and ask "How could you not see it? Bitcoin is so obvious!"





I can see it now but will not speculate on BTC even with a single cent. I would rather buy myself a $1000 whiskey, drink it, piss it than invest the same money in BTC expecting a return.


Broke 25K on the 25th.

26th

26K breached.

Almost poetic. Congratulations to those who held through it all.

Spread some laughter and cheer this season. smile



Tokyo
#1298 Posted : Sunday, December 27, 2020 6:26:24 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,483
I’m loving it. Bitcoin has never disappointed me. Predicting $40,000 by next Christmas
work to prosper
rwitre
#1299 Posted : Sunday, December 27, 2020 11:10:48 AM
Rank: Member


Joined: 3/8/2018
Posts: 475
Location: Nairobi
Tokyo wrote:
I’m loving it. Bitcoin has never disappointed me. Predicting $40,000 by next Christmas


Warren Buffet called bitcoin "Rat poison squared" when it was trading at around $9000

27/12/2020 BTC smashed through 27k.

Bitcoin total market cap: 513 billion
Berkshire Hathaway market cap: 531 billion

If we end the year with Bitcoin shooting past BRK there'll be a lot of "I told you so"s going around.
snifadog
#1300 Posted : Monday, December 28, 2020 8:29:03 AM
Rank: Member


Joined: 6/6/2016
Posts: 161
Location: Nairobi
BTC hitting 28k, ETH is just starting to pick up steam and the alt markets will explode in Jan 21. My man Jones got swallowed by the chop it seems.
Senior members on this forum told you to enter the NSE casino because crypto is a scam. Alas!
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