/biz/ - Business & Finance

ship leaves tonight for 23k and beyond

I bought the fucking peak in 2017 at $18800.
Almost break even now, I held through this shit because you fuckers said it ALWAYS go higher for each bull cycle.

WHAT THE FUCK IS THIS SHIT???
Seriously, FUUUUUUCK YOU PHAGGOT BITCOIN SHILLERS!
FUCK YOU, NO INFLATION HEDGE.
NO HIGHER CYCLES.
NO STOCK 2 FLOW.
I WAS CLOSE TO SELLING BUT LISTENED TO FUCKERS LIKE RAAAAOUL PAL.
Gay, you Bitcoin shillers are all fucking gay degenerate gambler.
Fuck u.

Highest inflation in 40 years, 8.6%.
This is true digital gold.
A revolutionary hedge against inflation.
There is NO second best.

So this shit is down like 65 - 70 % during the worst inflation we've had in 40 years.
How the fuck was this a store of value and digital gold again?
Explain yourself dear sirs.

>born from quantitative easing
>dies from quantitative tightening

So far I've cashed out about $700k.
>90 % of my ETH at $1250 for about $550k
>30 % of my FTM at around $0.4 for about $150k
>0 % of my other alt coins

Still hold:
>$80k in ETH
>$360k in FTM
>$90k in other alts

Meaning that I hold about 530/1230 = 43 % in crypto and 57 % in cash.
I lean fairly strongly bobo, but I am not 100 % convinced and I tend to go for long-term holdings, therefore I keep a pretty large crypto allocation.
I will probably buy back at least $100 k in ETH and I accept that I might have to buy back at a higher price than where I sold.
I don't feel comfortable around the current sentiment and the fact that Ethereum has really, really, really lagged with their scalability implementation which have led to some serious problem and that they start to face some real competition.

I know a lot of you guys are hopium-niggers, but whatever, if you like holding 100 %, then do that!
I would like to hear the reasoning though why you still think crypto isn't at a high risk of a 40 - 80 % drawback in the short-medium term, considering the fact that (1) NUPL hit euphoria, (2) google trend searches are very elevated, (3) we did ~15x in less than 12 months and (4) a bunch of famous people are shilling NFT and other questionable shit.

https://www.youtube.com/watch?v=O-dF081gygg

$750 000 000 worth of Bitcoin just flowed into Kraken like 1 hour ago.
Massive red dildo may be imminent.

It's been going down a lot for quite some time which resembles the last time the bubble deflated.

>NUPL hit euphoria
>Google searches was at very high levels
>Famous people shilled hard
>Doubling speed was below 20 days

All this happened previous top.
I feel like the best case scenario is that it keeps going down 15 - 20 % and then turns around in 3 months or so and keep chugging towards $150 - 200k.
Another scenario is that this truly was the peak for this cycle and we're going to have a bear market for at least 2 years.

Am I wrong here?

NUPL is scaaary high:
https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/

The past tops in NUPL have predicted all previous tops, so I'd really need to hear some good arguments why I shouldn't trust it this time.
We are either peaking now or at max within 1 - 2 months.
How much can it realistically go up before we crash now?

Prove me wrong!
Anybody who doesn't take at least 20 - 50 % of perhaps eveen 70 - 90 % of right now is a full blown retard.
It's so obvious we're in a bubble it's ridiculous.
It will almost 100 % certainly be lower in 3 - 4 months than now.
Look at this unprofitable shit for example:
https://finance.yahoo.com/chart/RIOT#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

It's a Bitcoin mining company that's up 10 000 % this year.
They're barely profitable.
The only reason it's up is because it has "blockchain" in it's name.

Pretty bullish long term and I don't think $150k is out of the question, within 2 - 3 years.
But for now... $50k feels fucking over-stretched.

Anyone here?

It's too much hype right now, it feels like everybody is in "on the Bitcoin trade"
I'm bearish the next 3 - 9 months but pretty bullish in the long run.
Feels good, I'm keeping 30 % just in case the market go into some hyper mania, but I think it'll be hard when the market cap is $0.9T, $1.45T total crypto.
The INSTITUTIONS have to get hyper mania and super FOMO to push this further, which I deem unlikely (not entiiirely impossible which is why I keep 30 %).

>>27215525
The short squeeze final boss is QE.
Guess how we do it?

I sold my BTC at $31500 today.
All you fags said I was stupid.
FUUUUUCK YOOOOOOOOOU LOOOW IQ NIGGER GAMBLERS!

Why shouldn't I sell now and buy back later?
My gains are pretty big and I feel like I can take profits and even miss on a 3-4x run if I miss a swing.

I've been running this HODL thing since 2017 but it feels kind of retarded desu.
I might FOMO sell before we drop below $30k.
Say something that would change my mind please.

What's your net worth?
When did you get in?
Do you have any kino stories to share?

>$1.55M
>Think I first saw a glance in spring 2012 when I scrolled through Silkroad, began following the price in Dec 2012 / Jan 2013. Got in fall 2013 and lost 90 % of my stack on Mt.Gox

Had like 0.5BTC left from selling a queue spot for an ASIC miner.
Quadrupled it by being early in Dogecoin and selling after a few days.
Put 50 % on NEXT and 50 % on Ethereum in 2014.

The rest is history.
It was so much more charming back then when it was libertarians and computer geeks.
The obsession was much less about the price and retarded narratives like "digital gold".
Bitcointalk had some high quality contributors and it was interesting to scroll through the posts.
(BTW, I am bearish as fuck ATM, this has most the signs of previous bubble tops and I expect 60 - 75 % drop in price)

What's your story?

Our whole bags are going to fucking 0$.
Bitcoin can be double spent and the whole "securest network" goes out the window.
https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-the-wild

This is LITERALLY the most important thing Bitcoin is suppose to avoid.
Peter Schiff will be right in the end and master pajeet Raoul Pal has dumped his bag.

Okay, we're clearly in some form of bubble peak.
Not saying that we can't go to $150 - 250K in the long run, which would be 40 - 50 % of the market cap of gold.
I think it's very unrealistic that this shit could go further on a relative basis in comparison to assets like gold and people who say so are delusional.

So in the best case we're talking about 400 - 700 % profits, which are pretty fucking mediocre desu.
I could get the same return in about the same amount of time if I invest in growth stocks or similar high returning stocks, so why should I stay in a market that have done a 10x in less than a year, currently is shilled by people like Paul Logan and rely on a shady stable coin that use a shady bank in Bahamas?
Why accept all this extra risk for that mediocre upside?
I just don't see the point.

If we drop 50 - 75 % from here I will probably put in 20 % of what I have cashed out, but I don't think I will put much more. Especially not until the systemic risk Tether is gone.
Low IQ's who can only throw insults instead of attacking my reasoning please stay away.

This is the top:
https://twitter.com/CryptoTony__/status/1349063816336863233
Bitcoin have done 10x+ in less than 12 months.
The hammer is about to come down on Tether.
Institutions are buying was largely false:
https://youtu.be/8bz12j-I28k?t=49

I cashed out 90 % of my holdings at the top.
I was right, and people in euphoria was wrong.
Currently riding in denial/bull trap.
Bag holders can have fun staying poor.

What low IQs don't understand is that by buying BTC (the asset) you are investing in Bitcoin the network.
BTC is not gold and never will. Every time you see a meme or read this shit is from someone who is waiting to dump on you or a fool like Michael Saylor.
Unlike gold, BTC has no value without his underlying network. "BTC is gold" is just the current narrative and just a slogan for brain deads. If you are in crypto from at least 2012,
you know that BTC shifts the narrative many times. If so, what is the reality of Bitcoin? Now consider this:

> Very Very slow transactions that occur at best every 10 min
> No EVM (smart contracts platform)
> Flawed monetary policy that will leave the miners without profits in a few years from now
> Finance 1.0 is going to offer services around BTC taking fees from Bitcoin (the network).
For example, think of the new business model of Paypal: if you will pay a merchant with BTC using PayPal, you are using the Paypal infrastructure not the Bitcoin network

The reality is that Bitcoin will not fulfill the wet dreams of BTC holders and will not be the sovereign currency of the world because Bitcoin (the network) is not designed to do that.
What to do then? Consider this: investing in crypto is a game of finding and processing information through your brain. If you are good, you will make money. This is a board of anons, who am I? Maybe a pajeet? Who knows. Now it is up to you to make a decision.

I'm in 100% on ETH. Holding a little percentage of BTC is not a free decision but has a cost. A year ago you could have bought 65 Ether with a Bitcoin. Today only 32. The flippening is already happening
and if you want to maximize your ROI you have to change your mind on BTC. The earlier you do so, the more you are remunerated.

It's not going to pump. I am trembling for the moment when all you bagholders will realise this.