/biz/ - Business & Finance

[Anonymous No.12609428]

Ive been in crypto for just over a year now. This is painful. Can come people who've been here for 5+ years explain how do you get thru this? How is this going to unfold? Does the sentiment just change instantly at one point or is it gradual process you mostly are unaware of?

[Anonymous No.12609442]

>>12609428
1 year? so you literally entered at the top?

[Anonymous No.12609498]

>>12609442
yes

[Anonymous No.12609515]

maybe 2-3 days after you give up hope and sell, it will pump massively, then after you've waited weeks for a dip to buy and finally give in and buy the pump it will crash again. then after it hits your stop loss it will reverse and break ATH

[Anonymous No.12609548]

>>12609515
Sounds like HODL ain't so bad after all.

[Anonymous No.12609580]

>>12609548

if you HODL well then crypto is dead, it's mathematically impossible for it to recover as long as you're holding

[Anonymous No.12609639]

>>12609580
can I sell to myself?

[Anonymous No.12609656]

>>12609428
Anyone who could predict the market would be rich and not here. Look either you believe in the technology and then it will go up, or you don't.

[Anonymous No.12609681]

>>12609515
>>12609580

This. You will always lose and They will always win. Always.

[Anonymous No.12609682]

>>12609428
My first BTC was top 80% of the 1st 2013 bubble (from 13 or so to 260 on bitstamp) I just held and wasn't even concerned I mean perhaps a bit disappointed about the timing but I was busy with my life. We all know the long term fundamentals and each day I read something new about second layers, regulation in some random country, blockchain adoption in random industries ect and that's all aside from the inherit scarcity and deflationary cycle. Hell I didn't even sell at a good price on the 1.1k run, I sold half my stack at about 450 making me go riskless on the remainder then I ADDED to my stack in 2014-2015 (pretty much 2-3 times a month) cost averaging, finished it off with a bigger purchase with a tax return at about 250 USD very near the low in 2015, no TA (sentiment at the time was actually calling for sustained sub 200 and multiyear bear market lol) just chance but alas perhaps one of my best trades, since then I've only bought dust to balance off other transactions for my friends (very important to get your circle to hold also in case you make it then you won't be alone). I did however lose a fair bit speculating with utter shitcoins during 14,15 out of boredom mostly but I learnt to not fuck with shit - All of them went to 0 apart from LTC which I held on to and sold at a ridiculous profit (bought at 4 usd). Best advice is LEARN TRADING if you are going to trade (it took me 5 years to get good, 3 of those trading everyday) and just keep on accumulating (trader or not) you need 21 BTC to make it but less than that will still be very effective as part of an overall portfolio. Advice here is to be adding, learn how to trade and how to hedge your book using leverage (5x short for example uses 20% of your capital to lock in the gains of the rest of your book) if you have the time that is if you are working hard or run a business/s then just cost average add and let it sit whilst you keep up the good work.

[Anonymous No.12609728]

>>12609515
This. you WILL absolutely get fucked if you try and outsmart the rest of the players in this game because the vast majority of them are either far smarter than you or cold, emotionless psychopaths capable of manipulating you like a puppetmaster. Seriously people have been doing this for generations and now with bots and trading algorithms it’s even more ruthless, just wait it out anon, wait it all out.

[Anonymous No.12609747]

>>12609682
thanks for the advise dude.

I got in early Dec 2017 and 10x with shitcoins, sold out a bit, then piled in with loads of fiat into shitcoins in Feb, most of which is lost.

Restarted accumulation of BTC in Dec, and other than very small holdings of alts, I'm DCAing into BTC for the next 6-12 months and avoiding trading or MEXing.

/biz/ is actually a terrible place to visit as it makes you FOMO into utter shit or over react to market movements.

[Anonymous No.12609763]

>>12609428
i started getting into crypto early 2016

when it takes off, it's insane, it's like the prices are up +100% and you think you've made it, and then two days later they're up another +100%, and a week later they're up +500% it's just mental, pure eurphoria.

The way down is just as rough though, misery, despair, I've been through it all. One thing I'll say is that it reshapes the way you view "money", like back 4-5 years ago I idolized "money", I wanted it, I chased it, I did everything I could to make it.

After going through a market boom and bust though, having made $30,000 in a single day, and lost just about as much in a single day (on paper anyway) and realize that's not much less than I'd normally make in an entire year working a job, well you start becoming detached from the obsession with "money", or at least I did.

Now when I make or lose money I don't really have an emotional response, I feel virtually nothing, just numbers in an account going up or down. As long as I'm not homeless and have that bare minimum threshold to get through the month, nothing else really impacts me.

Anyway to answer your initial question: yes the sentiment changes abruptly, it's not gradual, it's just like WOW ITS FUCKING ON! out of nowhere

[Anonymous No.12609823]

>>12609747
>/biz/ is actually a terrible place to visit

biz is best place. reddit is worst. Atleast biz shows you the read face of makeing money.

[Anonymous No.12609851]

>>12609428
2013 here. 4 year market cycles fren.

Late 2013- btc -ump from sub $100 to $1000. Late 2017 2k- 20k. Late 2021- (I’ll let you do the math)

There’s always decent shitcoin action at any point and time anyway,which is mostly how I deal with it.

I got smoked in 2013 buying at an average of like $800ish, so I know where you’re coming from. Do not do the following: sell low, forget to buy more when no one else wants to, or forget about crypto entirely until it gets very bullish again. I did most of those things leading up to 2017 and it’s why I’m not a multimillionaire right now

[Anonymous No.12609890]

>>12609747
>I'm DCAing into BTC for the next 6-12 months and avoiding trading or MEXing.

You are going to make it, and if you are swayed by the altcoin devil then just remember, we only trade alts to get more BTC.

>>12609763
>when it takes off, it's insane, it's like the prices are up +100% and you think you've made it, and then two days later they're up another +100%, and a week later they're up +500% it's just mental, pure eurphoria.

This reminds me why rebalancing portfolios is a good thing, helps keep emotions from running high and allows you to slowly take profit which eases the regret you feel when you close only to see another 2-5x you could have gotten.

>I feel virtually nothing, just numbers in an account going up or down.

This is a traders mentality after they've been continuously bludgeoned with the regret involved with speculation and have finally become refined, stoic and mentally strengthened. OP will be like that one day too if he goes down the path of trading.

[Anonymous No.12609954]

2011 fag who experienced it all.
This cycle is different. In my eyes it was make it or break it cycle. Don't expect good outcome out of this anymore. BTW I never took any profit

[Anonymous No.12610018]

>>12609954
This dude gets it.

[Anonymous No.12610259]

>>12609428
I found out about BTC back in 2010 from a computer geek at an occupy WallStreet protest. Wrote it off as silly internet money.

Years pass, and I end up kicking myself in 2017 when the price kept rising to an ath. But I didn’t fomo.

A year later and I still don’t fuck with king shitcoin, though I am however very bullish on blockchain as a technology, and thus take opportunity to “invest”/accumulate certain promising protocols in the course of day trading.

[Anonymous No.12610472]

>>12610259
>I'm here for the tech
>Never made any money on BTC since 2010

You are just wasting your time, dumbass

[Anonymous No.12610486]

>>12610259
>bullish on "blockchain"
>bearish on bitcoin

Imagine being this stupid

[Anonymous No.12610498]

>>12610486
imagine being so ignorant that you think bitcoin is decent technology. holy kek

[Anonymous No.12610516]

>>12609954
I hope you are fucking wrong.

[Anonymous No.12610532]

>>12610472
>completely ignores the fact that I trade
>conflates trading with investing
learn how to read, fren

I’ve made way more in this bull market swing trading and shorting than most you lost souls.

[Anonymous No.12610543]

>>12609954
>I never took any profit

[Anonymous No.12610544]

>>12610532
wups, meant, *bear market

[Anonymous No.12610582]

>>12610498
Bitcoin is the only reason this entire space exists and the only crypto actually used in large quantities as well as being the strongest blockchain by computing power. Literally no other crypto matters

[Anonymous No.12610596]

>>12610543
>definitely can’t read
>is still a BTC maximalist
>muh brand loyalty
>will hodle until the Titanic sinks
I’m sorry you bought the top in 2017 while actual traders watched from the sidelines ready to short the shit out of your retirement savings worth in BTC, but that’s all BTC is good for, trading.

In reality, BTC is to crypto what the rotary phone is to telecommunications.

It’s laughable shit in terms of muh “store of value” and likewise shit at being a cheep, fast and liquid currency.

But it will reign supreme because you are drowibg in bags of digital tulip.

TOP KEK

[Anonymous No.12610616]

>>12610582
>BTC is the only reason this space exists
Wrong. Blockchain is the ONLY reason the space exists.

Bitcoin is just a fucking brand. And you’re just a retarded brand loyalist.

[Anonymous No.12610661]

>>12610616
Wow I'm trying to figure out why you have never made money from crypto you sound so judicious

[Anonymous No.12610731]

>>12610616
>doesn't understand that the world outside of tech is monolithic and that global adoption requires a brand to coordinate it
I'm 100% in shitcoins and understand this simple face. Industry and governments do not move at meme speeds and boom bust toward whatever happens to be viral right now. They just want to go with whatever is good enough and BTC seems to be making effort to get there.

[Anonymous No.12610803]

>>12610616
Brainlet

[Anonymous No.12610829]

>>12609681
He sold?

[Anonymous No.12610857]

>>12610596
>In reality, BTC is to crypto what the rotary phone is to telecommunications.
>It’s laughable shit in terms of muh “store of value” and likewise shit at being a cheep, fast and liquid currency.

I mean, can’t argue there.

Only thing BTC has going for it is brand recognition.
>inb4 b-but muh lightning network

[Anonymous No.12611118]

>>12610857
>Only thing BTC has going for it is brand recognition.
Brainlet