As always, you'll get a bit of everything. Some will get even and bail. Some will shovel in more. Looking at the past, more will jump in if it looks like a bull run.

I’m pessimistic about a rally from here given the gradual downward range trade after a significant fall. I’m thinking there will be another plunge or at least a frightening dip, for whatever real or fabricated reason, shaking loose more short term speculators. I’m good holding pat for now. If prices plunge or dip again, I’ll be adding to my positions (small at present). I’m looking at this through the lens of a 5-10 year horizon. My guess is that 10 years out, some current alt coins will be gone or effectively worthless, Bitcoin will be massively up along with some other alt coins, including some which may not exist yet.

Ouch.

If this keeps up... I'm going to buy more.

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I'm with Astropin , I have some funds set aside ready to buy

Far from me being a booster in this thread, you only have to go back 1 year to see how much ridiculously higher bitcoin is now. Last July 19th it was $9k, so we're still talking a price tripling the span of a year. If you believe in BTC go in for a 5 year timeframe.

I'll probably still be holding my 150 bucks of worthless Doge.

Is it not a logical fallacy to assume that something MUST go up on a long enough timeline? Why is that necessarily the case?

Some things can just find an equilibrium and stay there, maybe moving fractions of a percent in either direction, effectively indefinitely.

I do wonder (not saying this is how you feel) whether some people have been spellbound by the gains this year, and stuff like GME and other meme stocks, and believe - just from echo chambers and sheer force of will - that whatever they happen to believe in, or are invested in, has to go up, because.. well it just does.

I can’t shake the feeling that there is a lot of retail investor money in cryptos right now, money that will get spooked every time there is a precipitous drop. Because of that I do wonder how much faith to have in so called “support levels”, etc.

Not trying to be a pessimist incidentally, just a pragmatist.

Tinfoil hat time:
I've been telling a friend that contrary to what everyone else thinks going into this week, I'm going to bet on bitcoin (and therefor crypto as a larger whole) actually having an ok week. There's the upcoming bitcoin conference on Wednesday, which will have a group discussion featuring Jack Dorsey, Cathie Wood and Elon Musk. Tesla is set to release Q2 report next Monday. If Tesla is actually still holding most of their bitcoin (which I believe they are, as they said they were suspending taking it as a payment, not that they were selling their bag) then I also believe Elon is going to go into the bitcoin conference with a pro bitcoin attitude. They will talk about how bitcoin is going greener, dispel some myths, and possibly even announce that Tesla will accept bitcoin again, or will at least be considering it again. A boost to bitcoins value will help their Q2 report the following Monday, and therefor boost Tesla as a whole.
Its a very specific order of events, but that's why I'm calling it my tinfoil hat prediction haha.
I bought some crypto today, and I've set aside some money for later this week too if I'm wrong (which could easily be the case).

The event sixtyfourbits mentioned

https://www.thebword.org/c/the-b-word
Looking forward to the Musk / Dorsey debate.

I believe Btc dominance is still due for a rise, and if price drops too, look out alts.

One of the founders of ETH is now basically denouncing and walking away from crypto. Not sure if that is because he's uber rich now, or simply had a change of heart....

Eh the problem is, if it doesn't go up, and it doesn't pay out regularly, then more and more people will remove their money to put it somewhere that does move or pay, thus making it continue to fall. I think the perception that everyone is accepting crypto is grossly over estimated, when the majority are simply in it for the gains. You'll have people who ride it out forever, but most players are going to have to choose to average down, or get out (if it falls or goes sideways for a few years).

It's a logical fallacy, but an inductive high-probability. The history of Bitcoin and other crypto is that it crashes, time drags on at the new low level, lots of people get discouraged and say that's it, looking like it's dead...time passes...passes....Bitcoin rises to a new all-time high. This has been repeated enough times that you would have to be anti-empirical to assume the opposite case. Now, it's still possible it can stay down at these levels or even lower, but going by "possible", it's also possible it can 10x by EOY. The only sure thing about crypto so far is that patience is rewarded, and the negative-minded who sell miss out. My thinking is that the big catalyst will be when all these 1000's of sh1tcoins dwindle or die off, shrinking away to irrelevance, and some of that money moves back to the top 40 coins, which all have arguments for being sustainable projects, assets or currency. Even Doge would work as a decent inflationary currency, it's just that too many people thought of it as an appreciating asset, which it was not designed to be....

Indeed. I feel like this is what we’re looking at now. It feels like a lot of the money in it, the current value if you will, is from people who jumped in during this year’s epic bull run, who basically FOMO’d in thinking it would just keep going up 5-10% every day, forever.

If those people get disillusioned, and crystallise their losses, then as you say the price will drop, and it’ll become a feedback loop.

I’m trying to remain positive because I’ve got skin in the game, and I’m probably as guilty as anyone of getting sucked in by the hype. I guess it doesn’t help that at the moment it all feels depressive in terms of the news cycles etc. I need to get my head out of this short term thinking too.

I'd have to be able to file itemized...not once in my 40 years have I *ever* had enough deductions to file itemized, and believe me...I do check it every year.

https://www.independent.co.uk/life-style/gadgets-and-tech/ethereum-crypto-currency-bitcoin-anthony-di-iorio-b1886212.html

Says he is concerned about safety....reads to me like he's just burnt out.

Man what a garbage site...I'm not sure I've seen that many ads on one page since Geocities stopped being "a thing". Oof.

I’ve said it before, but if you believe in the blockchain, you shouldn’t care about the price of BTC and ETH, and simply dollar cost average buy them like a retirement savings plan.

I am fully convinced crypto and the blockchain are here to stay, and I’ve never been so sure of anything in my life.

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Probably a good approach. Could be similar to 2000 and the internet. Alot of people jumped in and were chasing immediate profits which created the dot com burst and alot of people lost their ass. However the internet was here to stay and those that stayed the course over a long period of time have done quite well with internet tech. But it took innovation and figuring out how to monetize the internet beyond porn. Alot of tech companies failed. Alot of crypto will fail. Those that figure out how to monetize blockchain beyond speculative junk coins will survive and flourish. Those that don't will mostly fail.

This. Anyone that's been buying crypto and holding longer than January of this year should still be quite up in their crypto holdings. I think people just got excited when so many all time highs hit for BTC, ETH and lesser coins and started thinking they'd be rich short term, instead of long term. I'm still 200% up or more on everything I bought before this past March. Although I totally understand if you are a newbie and bought in this year totally feeling the pain.

this is going to be worse than that SNL thing

Late last night / early this morning, an entity sold 79000 Bitcoin in one drop on coinbase pro. That’s about $2.5 billion worth.
The part that leads me to think this was an attempt to purposely drop bitcoins value is that it was done on coinbase pro, a public exchange. Most sales this big are otc.
Considering such a large public sale, I think the price has held up well. Shows lots of people are currently buying.

Yup that was me

My tinfoil hat theory:

Stock market crash is coming. Institutions and banks hold over 70% of the crypto markets and are liquidating crypto assets to either maintain liquidity to cover their looming margin calls due to the crash, or keep cash on hand to survive the coming crash (GME/AMC MOASS).

Even if you don't believe the GME/AMC MOASS, the above still can hold true.

I picked up some more BTC and some more ADA.

been buying BTC on dips, but feel like it's going lower from here so I am holding off any more buying until it's in the mid 20k
25k would pull me in to buy some more
If it doesn't hit that, so be it, I am fine with what I have

I won $1000 recently in a playoff hockey pool, and just used it to buy more Ada at 1.11 and 1.06. Even if things go lower, I’m happy buying at those levels and holding long term. I just watched an update video from Charles Hoskinson that Cardanos smart contracts are still on track for full integration by September.

Yeah...I got it at $1.06 and that raised my cost basis. Same with the BTC purchase.

holy shitballs
do the forensic types have any clues?

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Fools and their money are soon parted. Greed has undone many a foolish investor looking to make a quick buck. Good luck.

Same to you

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Glad you stopped by, and give your insight.
Have a nice day

lol

I'm in the opposite boat. After throwing money at the market over the past 9 months I came to the realization that the only real chance to make significant money is to buy at one of those 90% off sales. Let's face it, there's no real gains to be had with $60k Bitcoins... it's a very risk-on investment. $6k Bitcoin presents an entirely different possibility, in fact Bitcoin was just there last year. Same thing for the alt coins... there's just no money to be made unless you get lucky with a YOLO before everyone else, and put in a completely ridiculous amount of cash, with high odds it'll go to $0. Think of those crazy people putting $15k into Dogecoin that ran to a $1m value. WTF were they thinking putting $15k into a memecoin? Most of the Bitcoin millionaires are lucky in the same way and they'll all freely admit it.

To put $100k into $30k Bitcoins to get $1M @$300k is a fairly risky investment to be honest, as there are less risky ways to get a 10x outside of crypto. But at $6-12k it's a different story. That's the long way of saying, I'm rooting for my crypto investment (which was not small) to go down 90% because otherwise I have little chance of growing it to $1M. Anyone who's been in crypto since 2017 or before should have an easier path to 7 figures.

I cannot tell you the timeframe...but I truly believe that Bitcoin will go past 500k.

Edit, I will say, "at least by 2034... probably sooner".

Thought I'd post this because I'm the Official ChainLink fan boy around here.

https://www.coindesk.com/chainlink-integration-looks-to-catalyze-defi-development-on-avalanche

A plus side of covid

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Yesterday I had ultimately decided on more ADA, but I almost bought AGIX and LINK. I think LINK will do very well moving forward. $13.50 yesterday would've been a solid price to get in at. Let alone the $1.84 you scooped it up at last year!

Very nice!

Even though I just sold some of mine, I've been considering buying back in. I sold some at $49.22 back at the beginning of May that I purchased for $0.5395.

Is there a way to limit buy/sell on Coinbase? I think pro has it but Pro sucks

Not to my knowledge. What's wrong with Pro? I haven't run into any issues other than the app makes my iPhone get so hot I think it's going to catch on fire.

Panel is live now

Cathie Wood, lyn Alden, and Nic Parks there as well
Nice price pump ahead of panel, wonder if it will hold afterward.

It’s super kludgy and runs like crap. To the point it’s unusable. Maybe I just set it for limits and use Coinbase for everything else

Weird. I use it for all my trades and haven't run into any issues. Unless its a coin I can't get on Coinbase.

Anyone know if Coinbase changed something with regards to the AML / KYC crap? I'm getting this when trying to use Coinbase Earn, but my profile shows that I've already confirmed my picture by uploading my Driver's License years and years ago.

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