What do people think about alt coins? V.1 [discussion]

I am in a random group chat completely unrelated to stocks or shitcoins...err. crypto...
someone was like GUYS THIS IS THE TIME TO BUY DOGECOIN. COINBASE IS LISTING SOON. BUY AND HOLD!!!

lol.

 

I think we've bottomed.

 

Crypto has benefited from zirp for most of its existence. Like the nasdaq, looks like crypto market is also pricing in higher rates.

 

Not sure with crypto it's as much to do with higher rates since this happens a "lot" in crypto. You've got your "digital gold" in BTC and other coins losing 30-85% on the regular... it's almost expected. You just kind of hope if you're in it, it's the 30-35% at worst and that if it's the 85%, you've got a lot of dry powder on the sidelines ready to jump in.

 

I'm very new to this and bought some MATIC a couple weeks ago at $.525. Nice return so far. I'm regretting not buying more yesterday when it dipped to $1.48. Maybe it will once more before settling over $2 for a while.

 

nice! i bought at $1.08 following @jayhow92. wondering if it's time to take profit. where do you see this going? initiated early withdrawal from stake.

 

Much of what I've read over the past few days says there might be some dips but they're feeling pretty good about it holding steady above $2 and possibly getting to $3 by the end of the year. When I originally bought it, they were hoping for $1 by the end of 2021...so who the hell knows at this point.

 

lmao.

 

If you dont plan on holding for 4-5 years after November, you're going to get wrecked. Smart money will not carry the tax burden into the next year.

 

Why? I really don't know the ins and outs.

 

If you put $1000 into $randomcoin in Jan 2021 and $randomcoin goes up x20, you have $20,000. If you trade your $20,000 in Oct 2021 of $randomcoin for $20,000 in $SjitCoinPromiseYouDaMoon, you now have a tax liability for that $20,000 you traded. If your $sjitcoin is worth $50,000 on Dec 31, 2021 but comes crashing down to $10,000 on Jan 1 2022 and never recovers, you still owe the original gains.

BTC peaked late Dec 2017 and smart money started to reconcile their portfolio shortly after that. The issue is that many new investors think they are skillful traders during a market that doesnt go down and fall into all sorts of hype.

The most common mistake I see is people comparing this market to 2017 and claiming we still have months in this bull run. Nobody can predict the market. However there is plenty of money that can manipulate the market. When content creators say "This is not financial advice", what they really are saying is they haven't a ****ing clue what they are talking about.

 

Why don’t you share some actual thoughts about the market?

 

I already did, told you BTC has been incredibly weak with the rebounds and this is far from the bottom.
And Eth is also crashing, as I predicted. The flippening or decoupling have been yelled for all throughout the years and never happen.

 

how low do you expect btc and eth to go before they make new highs? If you’re going to laugh at my prediction, make one.

 

Im on LINK and MATIC, today has been a good day

 

Love LINK. It’s a no-brainer hodl for me.

I bought MATIC at .50 and closed at $1. But still glad to see a legit project pumping.