Thoughts on the crypto bottom in or more pain to come?

More purchases to come either way!!!

If I'm going to buy an NFT, I'm going to play it like a meme coin and sell it as soon as I hit 2 or 3X profit, ride the hype for quick cash, then sell before the price drops.

I've seen some interesting theories about how people think there is a lot of money laundering going on through NFTs and it's people buying it from themselves at the high prices, much like has been done in the art world over the years. And that's part of why you see something sell for a really high price and then the price on the rest of them plummet quickly. I haven't dug into it enough to know it this is possible or not.

Well, that plan backfired. I minted 4 Alpha Girl and 1 Shopverse. The Alpha Girls floor is below mint and Shopverse is slightly above. I guess I'm holding these bags until after reveal...maybe I'll get lucky and mint a rare. Planning to buy or make an offer on another Desperate Ape Wife tomorrow...having serious regrets selling the three I had for peanuts to mint JRNY NFT. I will also white list mint a Squishy Squad and some Soulware when they drop in the coming days. Have been taking nothing but Ls for quite a while now and could use a small win to boost morale, lol. Better days ahead...hopefully

Consensus appears to be further pain on the horizon. Apparently whale deposits into exchange accounts has increased significantly in the last few days.

A good bit of people are convinced that the bull run is over and we are back in a bear market.

I prefer to keep my unrealized profits. All my gains over the last year have been wiped out and then some. A lot of my profitable positions are no longer profitable. I've seen what to me is a lot of money wiped out in the last few days. I'm down about 40% and it's still falling.

I finally transferred my little BTC to my Ledger. Honestly I was a bit stressed as it took 15 minutes or so to complete the transaction.

I noticed you can stake ETH on Ledger Live (Lido). Anyone is doing this? Or is it better to leave at an exchange for staking?

I think you're following the wrong people? Or I am, but at least mine are more positive most of the time. Nearly everyone I follow is saying the bull run isn't over. That it will likely go sideways through the end of the year, and then back up.

I don’t stake any Eth but be careful some places you can’t unstake it. Some places do not let you unstake it until 2.0 is launched which I wouldn’t do as 2.0 is already late to launch. Others like Coinbase I think let you unstake no problem.

Well gaming crypto and other alts just keeps going down. Generally I'd say a drop to the 30s for Bitcoin, like some people are hoping for, would mean we are in a bear market. So I wouldn't be rooting for that personally.

We might consolidate here for awhile, could even touch $42k again. But I'd be buying here, though always good to keep some free cash on the sidelines.

I'd say keep an eye on the general stock market for leading indicators.

I'm just going by various articles that appear in my FTX feed.

Ahh. I stopped reading those a long time ago. Years. Seemed to be mostly bs. I prefer the on-chain analysts...but try to sample a large number of chart analysts as well. Most do not think this run is over...just on standby.

Mine ran and then ran back this year. It's saddening to watch the gains vaporize.

Totally fair. I got out when things started going south in late May/early June and stayed by the sidelines until Nov. No crystal ball here, but I am anticipating that $ETH will stay strong and have an upward projectory over the years. No way to know for sure - hoping it follows the historic trend of the markets.

Who do you like to follow?

I like
Willy Woo
Tone Vays
Eric Crown
Bitcoin is King

Yes ETH looks very strong indeed.

I only started back in February and I start to feel I handle this wrong. Somehow I want to keep all coins but the truth is I'm not married to these.
If I would have sold at close to highs and purchased back at lows I would have done at least x4-x6 by now instead of just seeing my portfolio value going up and down.

Hmm...

The problem with that is it's really hard to time it right. I tend to buy a few shit/alt coins to make quick profits from and mostly HODL everything else (I do something similar with stocks). I've found it works best if you sell out your initial buy in or more at 2 or 3X, often if you wait for that 4-6X it will plummet and you will end up a bag holder that missed the hype wave.

Honestly, I feel like this is normal crypto fluctuations right now, crypto prices have only dropped to about where they were 1-2 months ago and I'm still totally up on everything I bought before then. I'm only under water on a bit of ADA, CRO and SAND. CRO I expect to fully rebound, Staples Center is being renamed to Crypto.com Center this month, it and ADA I'm holding for a long time. SAND I jumped on when I saw it shooting up and I feel like I may have missed that window.

Willy
I'm old, but I like the young guys Dylan LeClair & Will Clemente (Especially Clemente, who's not a afraid to yell to everyone to have caution, right before a big dip ends up hitting)
Benjamin Cowen (@intocryptoverse)
Scott Melker (The Wolf of All Streets)
John Wick (@zerohedge)

People I really like to listen to: (Macro)
Lyn Alden
Preston Pysh
Gregg Foss
Jeff Booth
Robert Breedlove
Michael Saylor

Take a look at James at InvestAnswers

You will be nicely suprised how he approach things with his financial background (heavy on modelling and deep-dive analsys)
He posts daily, and has interesting guests like Michael Saylor, Raoul Paul to name a few

Clemente called for this pump over 6 hrs ago. Says it's likely the 1st leg of a larger move.

Do you have anyone that if they told you to stop, cash out or move your money that you would follow their advice?
Not trolling, really need to know. All I see is eternal optimism. I'm studying.

Any one person? No.
There would have to be some fundamental problem with the layer one protocol. Which, after 12 years seems highly unlikely.

Edit: I'm not bullish on Bitcoin because it's corresponding $ value goes up. That is why I started buying it. Now....now I'm bullish because Bitcoin is better money. (Period). Based on it's fundamental properties it's the soundest money the world has ever seen. All it needs now is time ...that's it. It will be a VERY bumpy ride though.

...

Thanks for your honest assessment. I have a friend who has lost his mind (or maybe he is forward thinking) buying all kinds of crypto, penny crypto etc.
Started watching the ones he is in and trying to learn the trends/patterns.
Noticed several indicators there would be a significant drop last weekend. Being correct in my first prediction gave a little confidence.
However the excitement and hype nearly had me buying Shiba 2 weeks ago.
As of right now I haven't purchased anything yet.
Have noticed the last two recent downturns occurred when Bitcoin reached north of 55000, as if Investors/Owners had set a sell at that point.

I think it's the derivatives markets really messing with Bitcoin's price now. We start to trend up and people go absolutely bananas with leveraged long positions. This information is easily available/viewable on chain. So when this happens the whales love to fuck up the leveraged players and they start selling. This causes cascading liquidations and the price plummets. Then the whales start buying back at a lower price. Rinse repeat.

My portfolio is down 60%

Im playing the fiddle while Rome burns it seems....

HODL is the only choice at this point.

60%? I'm down 19% from my peak.

Some are bouncing back pretty hard - CRO is on the move up again. I sold a pinball this week so dropped the $ into the market - was leaning towards splitting between CRO and VRA this morning but ended up going with HEX. Currently sitting at 14c and work on the street it will be copied onto the pulse chain soon. So anyone with HEX in metamask, will have double the amount when the announcement gets made. The original amount on ethereum, and the same amount (effectively a huge airdrop) on pulse.

HEX also has pretty insane returns for long term (years) staking, but not surer i want to lock it up for that long just yet.

FOMO'd back into Desperate Ape Wives today and bought this gem for 1.85 ETH. Want to strangle myself two weeks ago for pawning my previous three DAWs for basically nothing when the floor was .27 (ugh). Going to HODL this beauty for a very long time. My fiance also picked up a DAW two days ago and is already up 1 ETH on her ape. Let's see where this goes...

https://opensea.io/assets/0xf1268733c6fb05ef6be9cf23d24436dcd6e0b35e/4391
unnamed (1) (resized).png

Anyone else bullish AF on XPR(proton) and blok(blocktopia)?

Quick update on this trade.
I'm up 9k on the MATIC and up 14k vs had I just hung on to the Litecoin.

Litecoin never seems to move up much, good work. The LRC I bought is up 32% in the last 24 hours, I'm probably going to buy and sell it a few times if it keeps having big swings like this.

Yeah, it wasn't awful. Bought it at $59 and sold
it at $212. But, it hadn't really done much for the last few years.

Bounced back like I said to previous support, as for what direction it will go from here, it does look like whales are buying. Still looking good, though I wouldn't get overly confident until we get past $62k.

lol...I didn't recognize the title of his show, but yes, I have watched a handful of his videos.

Warning......LINK Fanboy Post Ahead!

"Former Google CEO is now a strategic advisor for Chainlink Labs

In addition to his time at Google and Alphabet, Schmidt was chair of the Department of Defense’s Innovation Board, chair of the National Security's Commission on Artificial Intelligence and served on the boards of Apple, Princeton University, Carnegie Mellon University and the Mayo Clinic. With an estimated net worth of roughly $23.6 billion, Schmidt will likely be one of the wealthiest individuals to act as an advisor to a crypto firm."

https://cryptobriefing.com/former-google-ceo-eric-schmidt-chainlink-labs-advisor/

I still argue that LINK is really undervalued because it tends to fly under the radar but is essential for onboarding off chain data onto the blockchain.

My plan is to buy btc anytime there is a crash, drop it into Celcius to let it earn 6.2% then ignore it until 2030. No point in trying to time anything and at this point I feel btc is here to stay.

Minted 5 of these today, 1 on WL and 4 on public. Was a quick sell out so…hope they can deliver.
https://opensea.io/collection/slotienft

Floor is doing pretty good, hoping to sell 2 to cover all the cost in.

Eth gas is super cheap right now if you have anything to do on the chain

I don't think I could stake more than 25% of my Bitcoin right now. While I understand buying and holding, I have to always leave room for profit taking and rebalancing.

LINK can suck it, pile of garbage purchase this year. I spent the first part of 2021 buying the primo crypto alt coins that everyone and their mother thinks are great like DOT and LINK, and they are a large part of the reason why I'm down in the 2021 crypto bull run. I have no idea why one of the most important projects in all of crypto is flat/down for the year when every influencer was pounding the table for a $400 price target by now, but instead it's down 60% since April. The news keeps rolling but the influencers have stopped their hopium. I've almost dumped it 3 times in the past month.

Rebalance into what? (out of curiosity). Half the people say take profits, and the other half say hodl and buy the dips. I'm definitely in the second camp since I can't think of a better place to put money.

Bitcoin definitely outperforms the S&P 500 or a total market index. Cash...lol! Gold...lol. Other crypto's will outperform over short periods; but that's a lot of research + a little luck. Long term probably nothing will outperform it.

Man, that's some bad luck. What kinds of things were you buying? As I've explained before I'm hyper focused on long term utility, so while I've lost on a bunch of PFP projects, the ones with real utility have been doing pretty well.

You've seen Gambling Apes lately? This is a project that could have been had for .25 ETH a month ago, but today its 1.25ETH, because they are actually getting close to opening the casinos for profit sharing, which was on their roadmap but people got impatient. I can't say I wasn't dismayed when I say my 0.7ETH purchase drop to 0.25, but it seems to be back on track. It was this forum I learned about them, so you gotta use your resources

Your 15k could have easily got you into The Doge Pound, and frankly seeing it drop back under 2 ETH, you may want to take a hard look at their roadmap and decide for yourself. They are a launchpad which whitelisted members for the JRNY NFT which was an instant 2x profit (1ETH) which would have brought your doge down to 1ETH cost, and I think that people dumped after the JRNY project was launched. They are coming out with staking soon, they are going hard into gaming and metaverse and will continue launching other projects, and their members all get first dibs at all of it. If the crypto bull run goes up, you may see TDP entry drop even more, but don't count on it being much under 2ETH. In an NFT bull run it will easily double in value, and if their roadmap plays out into 2022, it's a 10ETH project. Their team is top notch and that's exactly what you look for.

I'm not trying to oversell TDP, I'm just trying giving an example of an NFT project with a truly original roadmap with tons of utility... the BAYC doesn't offer more than this, it just happened to catch the attention of celebrities, and now is threatening to rise above the cryptopunk floor, so BAYC has morphed into a high-end fashion icon. Our job is to find more of these projects

BAYC did a lot actually. With the Kennel club, the serums, free yacht parties, whitelists, etc. It really transformed the market by showing that once you build a solid community you don’t need to charge them any longer and that the makers can get paid on the backend royalties and give holders a nice chance to make money from free airdrops and presents. Celebrities just added the gas to the fire. TDP may be doing more but bayc paved the way.

(Note I haven’t look much at tdp, I was just pointing out that bayc isn’t just a celebrity jpeg)

It is a little of both. I watch influencers get in seed rounds, proclaim how amazing the projects are, start talking about it at $0.50, after it rises to $3 tell followers "I told you so" then when it falls back to $1 "I gave you a 6x, if you didn't take profits it's not my fault." There's a lot to unpack here

1) You may think you are getting in early at $0.50 but in reality the seed round investors are already up 10x
2) If it ran to $3 in a short period of time, you might have been up 6x, but seed investors are up 60x.
3) Seed investors are going to use retail for liquidity and dump on them after a quick runup like that.
4) Understanding 1-3 gives you a really big hint that there is going to be a dump and you'd better plan for it.

It's also fair to note that if you believe in Bitcoin, for example, and you always buy the dip, you're going to be a lot better off than trying to time the market. But it is still a good idea to pay attention to macro trends like the 4-year bull cycle. This year we've seen a lot of chart patterns that say "sell" (see the uncannily accurate wyckoff pattern), along with the obvious way to play the monthly futures expirations. Have I taken advantage of any of it? No... but in hindsight it's all there.

So many people got burned in 2017 they are all gun shy, and keep proclaiming to take regular profits to derisk. It's a really good practice to get into. If you get a 2x and sell 50%, you wind up with a bunch of free shares and liquidity to buy a dip, or move to another project. I keep waiting for a good 5x, but that's just not happening for me, so I'm backing down to de-risk at lower levels after this latest market plunge left me feeling like an idiot. For example pulling out 25% after a 2x run-up allows you to keep 75% in play at a 50% discount, so even a typical 30% leaves you in the green.

I should take all this advice myself

One upcoming launch that could be decent NFT wise is Cyberdoge. If anyone wants to join the discord channel, use this link https://discord.gg/eykyXEc7

Surely 7 of you can use that, then i get a whitelist spot! Would love to get on a decent whitelist.

I’ll join for a couple days just to get you closer.

BTC and ETH staking at CDC is 6.5% APY.

I just transferred them to my Ledger but I'm having a hard time to resist staking it there. What do you guys do?

I joined their Discord using your link. Looks like an interesting project, I might mint one or two of those.