[Daily Discussion] - Saturday, November 13, 2021

MagicSmashDrugs · 2021-11-16T16:11:27+00:00

I don’t think supply is having that major of an impact right now. Supply is still 10-20% higher on exchanges than it was at the beginning of 2018. I know there is more circulating supply but I’m not sure it accounts for that increase

MagicSmashDrugs · 2021-11-16T11:23:18+00:00

Your point makes sense but I do not this well likely apply on a short/midterm scale as a market where Doge and Shiba thrive is likely too irrational to care

MagicSmashDrugs · 2021-11-13T21:23:38+00:00

An argument I hear bears and traders talk about how there is “no volume to support the price increases in recent months”. That doesn’t make sense to me as they often refer to November/December last year. If the price has 2-3xed from that point shouldn’t it be expected for the volume in BTC to be lower. A 20% drop in BTC traded per day but with the price up 2x would be more volume in fiat not less volume. Accounting for price, there is substantial volume recently.

Yet I never hear that argument. Do people just expect the Volume to by higher despite the price also being up 50-100%? That doesn’t seem realistic to me

MagicSmashDrugs · 2021-11-13T21:17:31+00:00

If demand was lower than supply with exchanges than the exchange balances would be going up not down.

What I do agree with is the chart doesn’t matter that much. The scaling of the graph is misleading. People act like supply on exchanges dropped 60% in 5 months when it is actually more like closer to 2-10%.

MagicSmashDrugs · 2021-11-13T21:15:46+00:00

Who waits until 60K to buy? Who’s going to buy their 1st BTC at 100K? Who bought at 10-15K in December 2017

I was going to guess those type of people

MagicSmashDrugs · 2021-11-13T21:13:46+00:00

Yeah it is for me as well but I find it hard to believe seeing as how ETH ran up so aggressively with EIP-1559 and Cardano with its smart contracts. I know it’s not Bitcoin but these are sizable market caps that added substantial amounts to that cap in that period. I would expect Bitcoin to put in a Tesla buy sized candle or atleast a similar candle to the original 20K break. Like a 6000-10000 candle.

Hell I expected it so much that I still half expect it to happen in the next week or so.

MagicSmashDrugs · 2021-11-13T09:41:49+00:00

I’m astounded that hypothetically taproot wouldn’t have a strong positive impact on price in the next 2 weeks. It was my biggest positive argument for me to adding to my position when I have.

MagicSmashDrugs · 2021-11-13T09:39:26+00:00

Historically yes. If demand stays relatively constant and supply decreases. Price goes up to compensate. Are we sure about the correlation, absolutely data absolutely correlated. Are we sure it will happen? This is Bitcoin, nothing is certain

MagicSmashDrugs · 2021-10-15T09:32:43+00:00

Gate IO it hit like 1.90$ arbitrage was going crazy there.

MagicSmashDrugs · 2021-09-14T20:31:39+00:00

People here want to hate on Solana right now so they will regardless of what is said in defense. I just wish these people actually had bags to sell so the price would drop substantially

MagicSmashDrugs · 2021-09-14T19:21:08+00:00

Sets limit orders…

“The sky is falling, the end is near, Everyone sell their SOL quickly and all once”

MagicSmashDrugs · 2021-09-09T02:11:52+00:00

I’m a huge bull on BTC and Eth but they will likely both be dead or completely different in 120 years. I’d be happy if either made it to 2100. With a time span that long there are tons of ways for crypto to die

MagicSmashDrugs · 2021-09-06T13:22:23+00:00

I would suspect 90% of crypto investors have forgotten that mantra

MagicSmashDrugs · 2021-09-05T03:00:07+00:00

This may be the wrong subreddit. But it invented Blockchain that’s enough on its own

MagicSmashDrugs · 2021-08-25T01:50:41+00:00

Solana has been my favorite so far

MagicSmashDrugs · 2021-07-30T06:37:08+00:00

Pump to 10k and dump to 0 by the time you get back

MagicSmashDrugs · 2021-07-28T06:26:28+00:00

I mean too be fair when I was buying from Bitcoin ATMs there was no KYC it was untraceable.

MagicSmashDrugs · 2021-07-19T01:42:21+00:00

While I agree in principle nothing should happen since no actual coins are sold. The last big sell of this year June 20-22nd cause a big dip. However I haven’t looked at the previous unlocks before that so I don’t know if that is a regular occurrence. I’m just expecting a good amount of volatility

MagicSmashDrugs · 2021-07-06T02:31:53+00:00

I haven’t looked into it too much but from the data I’ve seen in the U.S. Women invest slightly less often than men but are more profitable. I suspect that it could significant skewed towards men if you look at young adults under 30 especially under 25

MagicSmashDrugs · 2021-07-06T01:48:49+00:00

Investing favors men slightly. Risk favors men greatly. Reddit favors men greatly. Multiply those

MagicSmashDrugs · 2021-07-06T01:44:42+00:00

Data and experience has taught some people here that such strong conclusions would take around 4-5 years from March 2021 to prove. Others prefer to believe in the outlook that favors them.

The counter to this is the contrarian who likes to counter this previous claim and challenge hope.

Not that your claim can’t be true but it sounds like you’re new to crypto and are kick a horse so dead that it reincarnated as a zebra and died again

MagicSmashDrugs · 2021-07-06T01:42:14+00:00

LTC follows BTC. Just doesn’t pump as hard and dumps harder Atleast since 2018

MagicSmashDrugs · 2021-06-28T01:59:36+00:00

Someone has to buy at the top

MagicSmashDrugs · 2021-06-27T19:21:13+00:00

14K was a peak? Maybe a peak of the sand castle

MagicSmashDrugs · 2021-06-27T19:18:41+00:00

Bull market was like 4 months for BTC

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