...wondering if we're not going to re-test $40k at this rate.
or 30k
Oh gawd...
You had to go there.
And, I am not even saying $30k or even $25k are not possible.. even though the 200-week moving average is currently right around $30,500.
...wondering if we're not going to re-test $40k at this rate.
or 30k
Split the difference?
done, ill go set my buys @ 35k now
I admit that I have buys down to a bit below $20k, but I surely would be surprised to see anything below $30k, while at the same time, there is no reason to even go down from here, except maybe when there is some short-term momentum (tree-shaking), it does not hurt to keep pushing such momentum as far as anyone is able to get it to go in order to shake the various weak-hands, and there are always weak hands who either get scared to preserve their already gains (or cut their losses) or they think that if they sell they might be able to buy back lower.
Fucking Barry Shillbert can't stop dumping... Retarded mother-fucker...
He has 500.000+ coins ready to dump.
This is even worse than MT Gox + FTX combined.
Won't be surprised if price will bleed towards $20k - $30k
Oh gawd
You are still waiting to buy in the lower $20ks? You should have bought a bit more in the $25k to $27k range that pretty much lasted for 2.5 months between August and mid-October. Just saying... but you already knew that, right?
I am kind of thinking you would get quite lucky if you were to be able to buy anywhere in the lower end of the don't wake me up zone, which would be between $35k and $37k, yet I am not going to claim to have any kind of crystal ball. We know that sometimes quite outrageous things could end up happening.
It seems that the situation is getting from bad to worse by each hour. This is not a normal trading, so to speak of any support line is pointless. The support is when the last bitcoin of Greyscale will be sold. I won't be surprised if we see covid like apocalyptic dump. Too bad I don't have any fiat left to buy moar.
You do sound like you have a lot of mindrust potential.. in terms of getting worried about not having enough fiat left to buy and also being so certain that the BTC price is going to drop.
Therefore, what is the most logical solution.. sell a little, or even all in order to prepare for lower BTC prices, that may or may not end up materializing.
Good luck with that kind of a smarter than everyone else plan.
I guess the plan is to keep the rate 1.5% until the
BTC outflows stop. And then lower it to 0.3%. But people are not so stupid to return to Greyscale knowing that they will raise the rate again. So, instead of leading the parade to 100K, Greyscale chose to be the new far more ominous MtGox. Well, it seems that we have to wait a bit longer to see 100K. Honey badger doesn't care.
I think that GBTC may well have already calculated that a decent amount of their shares would be sold, and so then the question may well remain whether the amount of sales is actually outside of their expectations, or not... I am surely not going to speculate so early that the outflow is beyond their expectations... Maybe down the road we might be able to reach such a conclusion? Perhaps?
Don't worry about the price drop. Any seasoned HoDLer knows that this can happen.
Remember: Halving in 3 months -- ETFs approved -- Such economic processes often have long dead times.
Don't act like mindrust -- we all know better than this.
I don't worry so much. Why?
Because the general interest in buying Bitcoin was growing, at the SE and by the average guy. Also, everybody and his dog should know by now that pre-halvening is buying time.
So why care about morons selling at the last-chance-to-buy-low stage?
EDIT: See?
All of that sounds good, even though I get the impression that you are probably selling too much on the way up.. but hey, that's just my impression, since I recall that you considered yourself to be more in accumulation stage rather than maintenance or liquidation stage, so from my own perspective, I believe that any selling on the way up needs to be tempered.. even though surely it does seem that you have a pretty good handle on what you are doing and why you are doing it, which is way more important than what some random dude on the internet (namely yours truly) thinks.
That might sound like i'm selling too much on the way up, but i am still oriented at the accumulation side of things. I doubt i would play around with more than a fifth of total holdings, and even these figures feel way higher than i'm willing to
take let go of, albeit a part of it will flow back, hopefully near a later bottom. Don't we all love them? I mean bottoms
(*big butt pic here*)
Unless you mean the way up in longer terms, say after another two cycles or more.
My current philosophy is that selling in order to accumulate more is not a very good accumulation strategy, yet if there are certain kinds of blow-off tops, then surely there could be some amount of selling that would be justified.. so maybe there could be various selling on the way up that is small amounts, and those would likely not result in very much sales, so that maybe if you are in accumulation stage, you might sell something like less than 5% for ever time the BTC price doubles.. so in the end, you are never going to end up selling very much. However, at the same time, if the BTC spot price starts getting into the territory of 4x to 14x or higher than the you may well be justified to sell a bit more, and maybe even at that point you could consider up to 25% of your then remaining stash, but maybe you would have to sell less than 25% if you had already been selling on the way up.. and surely all of these kinds of numbers are discretionary.. and each person has to weigh his own circumstances.. which would include the
9 factors that I frequently refer to.
I will have to take major profits at a reasonable age, when i split my holdings in the "my" and the "rest of the family"/inheritance part(s). The latter should be sold at will by my children, i will not care when and how much.
Presumptively when you get out of the accumulation stage (since you already admitted several times that you are still in a kind of accumulation stage), then you would go into a maintenance stage and then you would also go into a liquidation stage, so each of those would have differing kinds of ways to deal with your stash and how you might emphasize more about selling rather than buying, even though you still could be buying some even though in the maintenance stage you might be erroring on the side of maintaining the stash, even though at the same time, you could have a leaning in one direction or another.. in terms of still accumulating while maintaining on the one side or starting to liquidate while maintaining on the other side.. .. especially since there are likely going to be gradients to these kinds of practices, since many of us did not spend years and years and years accumulating bitcoin in order to sell all of them in order to either get into inferior investment product or on the other hand overly consume beyond anything that we might not have already grown into... in other words, not necessarily wanting to blow our wadd on hookers lambos and blow in a short period of time.