Guys.. Haven’t you been in crypto very long?
This is what crypto does..
Get the fuck out of here.
You believe that we are talking about "crypto" in this thread? Fuck that amorphous category of nonsense.
We are talking about bitcoin, and many of us could give less than two shits if some shitcoin happened to pump along with bitcoin or be oppositely correlated or have its own pumpening event... who cares...
Let's try to stay focused, at least and don't be using nonsense ambiguous terms in this thread.. because if we are mentioning any coins besides bitcoin in this thread, it should be for the purpose of denigrating them rather than trying to provide some kind of platform for them or to even imply that they might have some kind of equivalence to bitcoin - besides riding off of bitcoin's good will and security.
Yeah it’ll probably retrace, but the important part is that it cleared the books/cleared a path to where it is now..
The higher the path it clears the better.. I hope it spikes and clears the books to infinity even if it dumps back to 25k..
Seems like you are talking about bitcoin in this portion.. not some stupid-ass amorphous concept.. amInotrite?
Wipes all those old sell orders out of the books, so if/when it goes back down, it only needs to break the NEW orders to get back there..
How many new sell orders are happening vs buys? Upward buying pressure?
We are good dudes calm down..
Sure, upwards buying pressure seems to be continuing and ongoing in bitcoin.. and sure it is likely going to continue, until it stops.. I don't proclaim to have any kind of meaningful clue concerning when it might run out of steam.. and surely we have known since about $12k in early October that it could correct BIG and long at any time, and it really has not.. except for a few relatively minor corrections along the way since September/October.
Okay let not attack the other coins yeah I know you prefer BTC. I do prefer BTC.
But and it is a big I am earning LTC DOGE ETH via mining along with BTC direct via mining.
Would a prefer to just be earning BTC and not have the other coins in my mining portfolio yes.
But as a business mining multiple algos with multiple sets of gear works.
Last year I earned 3x worth of mixed coins.
In dec I calculated my profits for the year. Realized they were too damn high. I purchased 20k in gear in December and since I do sales all year long and file a schedule c with sales of all kinds of gear. adding 20k in gear increased my ending inventory. Which in turn reduce my taxable income by 20k.
Most of the gear was pc components to build gpu mining rigs. Which do not mine BTC this is a big part of my business model. Because it works.
Without shit coins I would be locked into buying and hodl and buy the dip. Which I no long have the stainless steel titanium testicles to do.
Now for me my model allows me:
weak hands with Eth
okay hands with Doge
and strong hands with BTC
It allows lets every gaming freak with a decent pc/gpu get a better rig and get back coins while they sleep.
All that makes BTC better so please remember to thank the peon coins for their service to BTC.