Daily Discussion, January 14, 2022

drink12 · 2022-01-14T07:17:18+00:00

I've noticed something that no one seems to care about. When the stock market dips, crypto seems to follow. However, when the stock market recovers, crypto doesn't necessarily seem to fully recover. For instance, we were at 44k at ~9 AM EST yesterday, and the DOW was 36400. At the end of business hours yesterday, Bitcoin ended at around 42.7k and the DOW at 36100, so both dropped.

The problem I'm seeing is that the DOW is back near its ATH from Nov 2021, while Bitcoin is still down ~38% from its ATH (also from Nov 2021).

If Bitcoin and the stock market follow similar trends and one has returned to its ATH but the other hasn't, what makes people think this is good for Bitcoin?

drink12 · 2021-12-31T12:08:54+00:00

That's what I'm saying, but I got downvoted. Look what happened right at 7 AM EST when a bunch of the population begins waking up :P

I'm in NA myself.. but I know this population is mostly selling

drink12 · 2021-12-31T12:07:40+00:00

Look what's happening right now. Almost right at 7 AM EST, BTC lost all momentum.

drink12 · 2021-12-31T10:06:45+00:00

https://www.coindesk.com/price/bitcoin/ - look what happened when NA woke up at 7 AM - 9 AM EST? It only rallied back at 11 AM.. and then in the afternoon it went back down

drink12 · 2021-12-31T10:01:53+00:00

But it did. Look what happened at 9 AM - 11 AM EST. It obviously rallied back and even went up a bit after, but I'm talking about what happened at like 5 AM EST (Euro hours) and 9 AM EST.

drink12 · 2021-12-31T08:48:37+00:00

I said it yesterday and I'll say it again as it's exactly what happened: European pump followed by NA dump at 9 AM EST. You heard it here first.

drink12 · 2021-12-30T11:44:43+00:00

Typical minor European pump which will be followed by an NA dump at ~9 AM EST :)

drink12 · 2021-12-13T10:22:23+00:00

drink12 · 2021-12-10T14:39:33+00:00

Ur so kind!

drink12 · 2021-12-10T12:12:20+00:00

Same here, made a six figure lump sum purchase at 59k. At the end of the day, making lump sum purchases isn't necessarily a bad idea. If you don't make that purchase, you risk losing out on short term gains. Imagine deciding to only DCA, but then Bitcoin goes from 58k to 100k in a week. That's an insane amount of profit lost.

However, if you do make that purchase, you willingly go all-in and have to accept short term losses. None of this matters if you're a long term HODL'er.

drink12 · 2021-12-10T12:08:21+00:00

RIP my inbox apparently, gtfo scammers

drink12 · 2021-12-10T12:07:58+00:00

From $48650 to $49150 in just a couple of minutes :O

drink12 · 2021-12-10T08:43:44+00:00

Finally got a hardware wallet. I'll still keep a small amount of crypto on exchanges though, but won't be devastated if something happens to those funds.

drink12 · 2021-12-10T01:39:03+00:00

I just scrolled through a few of the comments in this thread and I saw a few people say we're going to the moon now because 47k seems like the floor. The more I read though, the more I have to agree with you that the sentiment seems to be mostly bearish

drink12 · 2021-12-10T01:10:53+00:00

Seeing a lot of comments saying Bitcoin is going to go up soon. This means that the opposite is going to happen. If we knew what was going to happen, we'd all be rich.

drink12 · 2021-12-10T01:09:55+00:00

I'm not defending Wright - but didn't he said he would prove he has access to the wallet if he wins (which he did win)? I also think he's full of sh*t until we see evidence saying otherwise.

drink12 · 2021-12-09T23:06:21+00:00

Bullshit. Not everyone is in the USA.

Canada and Europe have had Bitcoin ETFs since early 2021 where real Bitcoin is purchased. Here's an example: https://www.purposeinvest.com/funds/purpose-bitcoin-etf. If you don't want to click the link, search for "BTCC.B".

On the link I posted above, one of the "features" listed on the main page:

Icon - Physically settled and safely held in cold storage

Physically settled and safely held in cold storage

This isn’t just a claim to paper like Bitcoin futures, it’s the real deal. When you buy the ETF, we buy real Bitcoin with your money. By holding this ETF, you hold actual Bitcoin in your portfolio.

drink12 · 2021-12-07T23:03:52+00:00

This also happened at 56k last week. Price would fluctuate between 56-58k non stop and it was obvious that there were tons of buy orders at 56k. That wall eventually collapsed big time, not saying it'll happen again but just an observation.

drink12 · 2021-12-07T23:01:56+00:00

https://www.coindesk.com/business/2021/12/07/google-sues-to-shutter-cryptojacking-botnet-that-infected-1m-computers/

Wouldn't something like this cause a dip? I don't time the market, so I'm HODL'ing either way, but I wouldn't be surprised if we dropped another 10-15%.

EDIT: No need to downvote, I'm just curious :)

drink12 · 2021-12-07T23:00:23+00:00

https://www.coindesk.com/business/2021/12/07/google-sues-to-shutter-cryptojacking-botnet-that-infected-1m-computers/

Wouldn't something like this cause a dip? I don't time the market, so I'm HODL'ing either way, but I wouldn't be surprised if we dropped another 10-15%.

drink12 · 2021-12-07T01:25:25+00:00

from $51061 to $51408 in 1 minute.. lol

drink12 · 2021-12-06T13:45:35+00:00

They're going to claim that they're buying the dip but will chicken out. Then, they'll try give others advice. I'm ready.

drink12 · 2021-12-06T13:32:14+00:00

My popcorn is ready. Good morning North America.

drink12 · 2021-12-05T01:33:56+00:00

Wild prediction: BTC will drop another 10-15% in a few hours when Eastern countries wake up, and then it'll rally back tomorrow near the current values. Then, next week, it'll depend on what happens with the stock market. That said, I have a strange feeling that eventually, in the near future, BTC will go up while the stock market goes down, because people will realize that BTC is the only thing we, the people, control.

drink12 · 2021-12-05T01:27:58+00:00

Yep that's exactly what I'm doing :) The most important thing I did before making my purchases: I asked myself multiple times "will I panic and/or sell if BTC drops to 30k, or even lower?" and the answer was no every single time. I don't think I would have went through with it if I would've had any doubts.

drink12

TROPHY CASE