The best part of this rally is how steady and long its been. Big confidence booster that these gains are here to stay.
Man.... SOOOOO STEADY. It's unreal. Now when it dips I just load up on more. Check-in a few times Sat & Sun.... dip? Buy. Big dip? Buy more. There are a few high dollar resistance points built in right now too. So if I get boned, I wont get boned too hard (like last time). But this thing trades 24/7 across the world and I don't have a stop loss. You have to treat it like Bruce Wayne in Dark Knight Rises. To escape the pit you have to do it WITHOUT the rope.
@Ziggy : Also @Ziggy : You crack me up, dude. It's like Mike Tyson said - everybody has a plan until they get punched in the mouth. What's your plan?
Ha! Exactly. I like to overreact both ways, it's part of the FUN! Plan? This is crypto. It's relatively new - who the **** even really knows, man, let's be honest here. I'm just looking for someone to give me the heads-up when the mega-dump is incoming. Tyson punch is no biggie in the market. You know not to let your guard down during trading hours. But crypto man, they're out here selling at 10pm on a holiday? That's not a punch in the mouth, that's a SUCKER punch. Cant even relax holding this ****, lulz. You walk out of the market up, think you're good, feel GOOD, then get hammered in the evening on a HOLIDAY? It ain't right!
Think it was bound to happen, question was just whether it happened after we hit the ATH or directly before. Most of crypto twitter etc yelled for 30k and altseason, mocked ppl that still didn't long, always a bad sign.
a bunch of weak hands that bought in at or near the all time high in 2017 Now that we are approaching that price again and they have recouped their losses, they are dumping their bitcoin, so there is a temporary supply shock Once they get flushed out and strong hands take all their bitcoin, the price will continue to rise
I'm like David Carr in the pocket, fam. Seriously though, prices go up and down, it's fine, but on a HOLIDAY! Pearl Harbor sneak attack ****.
MicroStrategy (MSTR) – The Best Way to Own Bitcoin in the Stock Market Price Target $700 https://citronresearch.com/wp-content/uploads/2020/11/MicroStrategy-The-Best-Way-To-Own-Bitcoin.pdf Crypto bros, thoughts on this? Pure BTC = more win? I've dabbled with crypto in the past but got burned on alts. Lazy to get back into difficult fund transfers to exchanges, wallets and memorizing complex passwords etc. MSTR any good?
I'm of the opinion if you want take a chance on bitcoin, then take a chance on bitcoin, not some derivative. Microstrategy is one of the leaders in their industry, and they took a massive position on their balance sheet with something like a $400+ million purchase this past quarter in BTC (I'm not sure what it's worth now, if they're still in the entire position... maybe up to 50% more?). So the problem you have now with buy MSTR is when they report earnings, it's tied massively to 2 things - how well the company did and how well bitcoin did. And there's no telling how BTC will behave, so what are you investing in? The company or BTC? If BTC doubles, does that equate to a double in MSTR? Probably not, but I don't know. If you're looking for riches, then have the guts to take the equivalent risk by buying BTC. That being said, there's probably nothing wrong with buying some MSTR for the hell of it. The other thing to keep in mind is that Saylor has already said that he could liquidate the entire $400+ million position or a large portion of it at any time. So there's another layer of volatility to both MSTR and BTC. Based upon what I heard in an interview with him this past Saturday, I don't think he'll sell the entire chunk or even a huge portion of it anytime soon, but... who knows. And I've said in the stocks thread, I hate Citron/Andrew Left. lol. They're know for their short positions and driving down stocks, so when they go long and tout a stock, it makes me suspicious. They have a position in the company, so they also have a vested interest in driving the thing up now. Your fears about investing in crazy/obscure alts shouldn't be similar to investing in BTC -- well, from an accessibility/dollar/liquidity standpoint. You should be able to trade BTC on exchanges like Kraken or Coinbase legally in the US and set stop orders to get out of it (maybe a 50% stop order... LOL). Or just buy it and forget about it for a few years. I bought into a bunch of crypto back in 2017/2018 and got out during the last crash and made decent money. I've been sitting on the remainder and some addition ETH/XRP/XLM I bought back around $100+. I sold out of a lot of those the other day when my stop's hit. I'll let the rest ride. If it tanks, I'll buy more. Rinse-repeat. None of it makes sense, but it makes money. LOL. The majority of people who jump into it aren't looking into altruistic reasons or reasons of "safety", they're in it to make a buck -- at least for now. Novogratz, Draper, Saylor, Tudor Jones, etc. are all in it for mostly financial reasons, and as they keep getting into it, hopefully it'll get more stable. Right now, it's just a "thing" that's really not used for much of anything, but has hopes.
Thanks for the detailed reply; I didn't think about them selling off the btc prematurely, another risk to think about. I was viewing this as a btc investment. The company's business looks meh, slow growth, but it's cash flow positive. So instead of buying 1 btc which forever remains 1 btc, with Mstr I can buy into a pool of btc which will increase over time, so you gain not just from growth in price but growth in coins in theory anyway. Edit: about citron, they definitely have selfish motives, but can't deny their ability to move the market. Their recent report on jmia was good for me. Helped me brush off my disaster with LLNW
