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The Bubbly Bitcoin Thread -- Merged Threads


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On 11/06/2021 at 17:19, jiltedjen said:

My advice and strategy has always been the same DCA in and DCA out. Formulate the plan and stick to it no matter what. Don't go full on

I missed the earlier post. What is the dca out strategy? I heard of dca in and Boglehead would say you only sell when you need to meet financial obligations or if you are rebalancing. Please enlighten me.

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24 minutes ago, reginekierkegaard said:

I missed the earlier post. What is the dca out strategy? I heard of dca in and Boglehead would say you only sell when you need to meet financial obligations or if you are rebalancing. Please enlighten me.

You quoted my post. Anyway my DCA out strategy is to sell 10% of my bags at each $50K leg up.  

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8 hours ago, MonsieurCopperCrutch said:

Alright man. Is decision time when you may or may not buy, or does it mean something else? 

I meant it's bitcoin's decisive moment... it has to break up or down at this point - do or die! it won't wait past 18th (maybe 19th depending on 50dma)... the ascending triange has confirmed the timing of the death cross, so it looks like down to $20K. I want to get back in at that price... but it probably won't stay there for long... might need a buy order to catch it... but the BIGGEST question on my mind at the moment is - is the cycle over? The stock to flow model (to me) says maybe... I could do with something more definitive... and no one seems sure.

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48 minutes ago, warpig said:

I meant it's bitcoin's decisive moment... it has to break up or down at this point - do or die! it won't wait past 18th (maybe 19th depending on 50dma)... the ascending triange has confirmed the timing of the death cross, so it looks like down to $20K. I want to get back in at that price... but it probably won't stay there for long... might need a buy order to catch it... but the BIGGEST question on my mind at the moment is - is the cycle over? The stock to flow model (to me) says maybe... I could do with something more definitive... and no one seems sure.

Plan B says no, who knows?

 

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1 hour ago, warpig said:

I meant it's bitcoin's decisive moment... it has to break up or down at this point - do or die! it won't wait past 18th (maybe 19th depending on 50dma)... the ascending triange has confirmed the timing of the death cross, so it looks like down to $20K. I want to get back in at that price... but it probably won't stay there for long... might need a buy order to catch it... but the BIGGEST question on my mind at the moment is - is the cycle over? The stock to flow model (to me) says maybe... I could do with something more definitive... and no one seems sure.

Thank you. 👍 Personally I do not believe that this cycle is over.

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Better not be over for this cycle!

I feel totally screwed to be honest. I’ve gone from Feb-Apr eyeing up second step houses (with around £170k in btc/eth at the time, and on the up), to now hearing of people bidding up £50k-£75k over asking price, and my holdings down to under £100k. I’ll honestly be lucky if I get a place without having to get a bigger mortgage!

Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be happy.

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Ether has only just returned to mid Apr price. Its’ 50 dma is far from touching the 200 dma. Bitcoin is another story. In term of market cap, ether and some other altcoins are increasing their market share perhaps at the expenses of Bitcoin. 
It is a bear market for Bitcoin but some altcoins are far from dead. Ethereum classic for example was trading at 13 dollars in April. It is worth 56 dollars today. 
The market moves in mysterious way. You never know what you are going to get.

 

1 hour ago, TheRivieraKid said:

Better not be over for this cycle!

I feel totally screwed to be honest. I’ve gone from Feb-Apr eyeing up second step houses (with around £170k in btc/eth at the time, and on the up), to now hearing of people bidding up £50k-£75k over asking price, and my holdings down to under £100k. I’ll honestly be lucky if I get a place without having to get a bigger mortgage!

Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be 

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1 hour ago, TheRivieraKid said:

Better not be over for this cycle!

I feel totally screwed to be honest. I’ve gone from Feb-Apr eyeing up second step houses (with around £170k in btc/eth at the time, and on the up), to now hearing of people bidding up £50k-£75k over asking price, and my holdings down to under £100k. I’ll honestly be lucky if I get a place without having to get a bigger mortgage!

Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be happy.

Almost certainly wait under the stamp duty extension expiry and furlough ends, that is when the SWHTF for the economy and house market. 

Just park the dream until Q4, we will know by then. and if BTC is suddenly over $130 you don't have to do a jiltedjen, cash out 100% , you can just cash out 50% and keep the dream of wealth alive for 2025. 

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10 minutes ago, reginekierkegaard said:

Ether has only just returned to mid Apr price. Its’ 50 dma is far from touching the 200 dma. Bitcoin is another story. In term of market cap, ether and some other altcoins are increasing their market share perhaps at the expenses of Bitcoin. 
It is a bear market for Bitcoin but some altcoins are far from dead. Ethereum classic for example was trading at 13 dollars in April. It is worth 56 dollars today. 
The market moves in mysterious way. You never know what you are going to get.

 

Hex made another new ATH this weekend, $0.088 , i bought a massive stake just over 2 weeks ago @ $0.0585, a month ago it was $0.0661 , 2 months ago $0.019 , 3 months ago under a $ penny. 

Just sayin. 

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1 hour ago, markyh said:

Almost certainly wait under the stamp duty extension expiry and furlough ends, that is when the SWHTF for the economy and house market. 

Just park the dream until Q4, we will know by then. and if BTC is suddenly over $130 you don't have to do a jiltedjen, cash out 100% , you can just cash out 50% and keep the dream of wealth alive for 2025. 

Yeah. It’s gonna have to be. Hopefully it’ll somewhat resemble Q4 ‘17 lol

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4 hours ago, TheRivieraKid said:

Better not be over for this cycle!

I feel totally screwed to be honest. I’ve gone from Feb-Apr eyeing up second step houses (with around £170k in btc/eth at the time, and on the up), to now hearing of people bidding up £50k-£75k over asking price, and my holdings down to under £100k. I’ll honestly be lucky if I get a place without having to get a bigger mortgage!

Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be happy.

I don't believe that this cycle is over especially with Bitcoin and Lightning Network penetrating country states like El Salvador and possibly Nigeria next. You have nothing to feel screwed over because you still own your precious Bitcoin so just ride this out. Worst somes to worse buy a house with a mortgage and wait for the next cycle pump. It'll happen. We just don't know when. 

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4 hours ago, TheRivieraKid said:

Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be happy.

There's a new monetary system coming very soon... I have this sneaking suspicion that they'll let rates rise to kibosh the old system and then let the new monetary phoenix rise from the ashes. I don't think house prices will survive the transition.

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3 hours ago, reginekierkegaard said:

Ether has only just returned to mid Apr price. Its’ 50 dma is far from touching the 200 dma. Bitcoin is another story. In term of market cap, ether and some other altcoins are increasing their market share perhaps at the expenses of Bitcoin. 
It is a bear market for Bitcoin but some altcoins are far from dead. Ethereum classic for example was trading at 13 dollars in April. It is worth 56 dollars today. 
The market moves in mysterious way. You never know what you are going to get.

Whilst that's true... ETH is dragging it's **** on long term support... From what I've witnessed... XRP and ETH are massive laggers to BTC... I would guess if BTC hits $20K, then ETH and XRP could drop 50% from current prices. Obviously I don't know... but personally I think it's likely.

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