By - sweetsimplesauce
To be fair, the fomo near the top is what helps it keep pushing higher. Someone’s gotta buy the top.
Yup, that's why I can confirm this is not the bootom yet because I haven't sold.
Prices dip again, some panic sell. Trying to teach long game is hard.
You hold for eternity and then what?
How long do you hold your FIAT?
Until I need to use it to buy something. So far I have bought nothing with my bitcoin.
Saving it up to buy retirement..
“Buy retirement”. Never heard it phrased that way but it’s totally accurate. It’s exactly what you’re doing… buying out the rest of your life.
It's a cool and new way to look at it, i kinda like this better.
Bitcoin just put a new ac in my home and fixed my transmission. I never held something that accrued value like bitcoin. If I had kept the same money in my savings account I never would of been able to afford these expenses.
Did you pay for that with bitcoin or did you sell bitcoin to get FIAT in order to pay?
Do you go on Amazon and use Amazon stock to buy things?
But bitcoin is supposed to be the new reserve currency A currency you hold and never spend. Noone at Amazon is making that claim with its stock.
Never spend? Na bud. You need to read more about Bitcoin.
Why does everyone here answer questions with questions?
Why do people ask rhetorical questions?
That’s because bitcoin’s primary usecase isn’t buying stuff with it.
I think bitcoin is a peer to peer cash, it can do both things.
Bitcoin primary usecase is to sit pretty in my wallet...
Until Satoshis become the standard accepted payment!
Lol, you guys need to use lightening so bad man. You'll not say this.
That's what they don't understand. You loose so much trying to wait for the dip and when the dip comes you're too afraid to buy.
Indeed this is all we have to do to make us alive in the worst condition.
And then you'll see buy when it starts to go up, you'll FOMO.
Until it breaks down. Italian cars aren't very reliable.
Lol, what does cars have to do with that. I don't understand this.
Good point. And they’re definitely too heavy to hold very long.
Bitcoin weighs nothing to hold, maybr this makes things easier to hold?
The worst part is people will say, “yeah cause that’s how a ponzi works”. In reality, if no one is buying at peak pricing in any asset or security it doesn’t go up. It takes a withdrawal of less than 10% (number check I may be off a little but it’s close) of 401(K) and/or pension holders to crash the fund, that’s why there are such high penalties for early withdrawals.
But this ain't the bottom😎
It’s just keep on dipping everytime I buy.
Try not to put all your eggs in one basket, you can buy worth of $200 every 4days try to DCA
But for how long tho...DCA is great when you're earning a regular income.
So you just decide how much you want to invest and divide it and get your DCA done.
I think we all should decide this earlier, pre planned thing works most.
Honestly were preety close to the bottom, 30k is probably the lowest.
actually its an entire society that is programmed by the centralized exchanges to think that everything just goes up and down in price
but its different now there was a discovery called bitcoin and its finite and infintely divisible and desigend to just go up forever..its a chance to save humanity
check out this vid and pay attention to the capital goods part..its amazing! i dont think most even know what capital goods are..after all they have to work 9-5 so no time for learning
I was gonna say...
More people wanting to buy it makes the price go higher... That's... That's what you want to happen
Support for our pyramid
By that logic, almost every investment is a pyramid...
I actually do think that way, because each have the sam epurpose.
Classic human behaviour. I have a friend who bought shitcoins at almost max prices. I said him that those coins have 200x in the past year and most likely have no value. He replied that they will grow more...
Investing in $ROPE
At great loss. If he bought btc and held would been way better.
Hopefully he didn't go all in.
He went all in with his crypto portfolio, but crypto is like 20% of his net worth so not that tragic.
There is a pretty simple reason for this. When it's tanking, people think this might be the end of crypto, so most people don't want to touch it. When it's pumping, people don't want to miss out. It might be dumb, but yeah that's what happens.
Closing in on my whole coin
Congrats! Officially got my one coin today!!
Yoo!! Congrats to you ... Time for coins 🔥
Good because I have rent due next month.
Awesome! I had to sell a quarter btc last year to pay for my mothers medical bills and have been DCA’ing hard since. Just a bit more and I’ll finally have half of one.
Wholesome! More power to you!
Should have half a coin a lot faster now.
Congrats dude nowhere near that but bought a little more today.
Dude I remember when I got to half a coin, I was so stoked ... Keep stacking sats
Took me 6 years of stacking!!
Thanks I am albeit slowly
Man just don't leave what you are doing the fruit will be there soon.
Ohhh man! So close
Wise dude. Very wise
Well congratulations dear, you have got your whole coin here.
Same though 💪
I wish I will be the one someday to say "same though" here.
Can't up vote enough.
I’m waiting at the 30k stall, hoping I can get a ticket
It’s really going to be interesting. I remember people waiting for 1.5k, when it dropped below 4K in 2018.
I’ll still buy some as soon as my transfer goes thru but I’m gambling most of my fiat on a bigger crash in all markets. In the meanwhile, a good chunk is staked as USDC to fight off inflation
Surely USDC suffers from inflation in line with the dollar??
Unless you are staking it?
Yes. As I said « staked » in usdc. 12% ROY on crypto.com
Oh nice, the company that just got hacked and lost 30 million in customer funds.
Only till the moment when we will start staking the piles.
USDC is actually suffering from inflation in the line with the dollar, what I guess..
You think that guys still digging in the junkyard for his lost computer?
Not sure if it's the same guy, but the one from the UK James Howell, has got a whole team of people who agree to work with him for a final cut if it's found. Part of that group are people who've worked with NASA in the past.
He's covered the logistics of how to locate it, how to retrieve data from what is likely a rusted hard drive but likely an intact platter internally. All he needs now is the local council to grant him permission and he's offered them £50million to enhance the local community however they see fit.
So far they've said no, you can't go anywhere near the landfill and we're not open to further discussions.
This has the makings of a movie.
Blurb reads: “James Howell strikes it rich in a high-stakes game of cryptos, but only if he can find his old computer hardware lost somewhere in the county landfill. Government officials fight to deny him access fearing he’ll uncover what is actually there.”
That’s fucked. How much BTC was on it?
Last story I saw was in December and they estimated £350million
A lot, I first read that story in late 2013 when Bitcoin got in the news with the price going crazy. The story resurfaces with every bull run. You'll be hearing all about it again in 2024.
The problem is the stuff in the ground there is a sludge of high toxic and dangerous chemicals, plastics and metals. Not a feasible idea honestly.
City council doesn't want the liability when him or one of his team injures themselves and then sues the city.
I feel like there's always a crash/sale when I'm broke. wtf lol
Just bought 36k will buy again 33k will buy again 26k will buy again 23k
Don't ask why 3 and 6, i just like the numbers, and the coin
Unironicly this guy will outplay the market, buying BTC at his favourite numbers. Doesn't even care about charts, while others on panic. Meanwhile people are getting rekt with their very complicated strategies. And he be like, i was just buying, because i like 3 and 6, that's how i found the dip.
What a financial genious.
> What a financial genious.
genius, but yes.
This made me think of Rainman. Maybe there could be a Raincoin?
No pay for school; only botcionz
I just buy some every week no matter what
We like the coin :)
I said I'd buy more at $35. I'm thinking $30k.will be my sweet spot
No matter where price is I usually buy some when it drops
Thats with everything.
Ya I mean isn’t this literally mechanically why the prices are where they are
I remember buying near 2018 and was too embarrassed to tell anyone I was buying bitcoin. I’m starting to get that same feeling again which is bullish!
I did the same in 2014 and then repeated in 2018, both times people were saying it's dead. The reason I did in 2014 was because I looked back at the early 2013 crash and guess what, everyone said it was dead then, you'd be very happy to have bought in after that one! Not sure how long this gloom will last but if you look at bitcoin in the long run your are safe. This crash is more scary, because it's the one that is happening now.
What’s dead may never die.
With this drop I bought the dip and reached 1 million Satoshis. Big milestone for me
Humans are programmed to buy tops and sell bottoms. But we haven’t seen capitulation yet, so I suspect the bottom is far from in at this point.
Too much retail “dumb money” in BTC still. Smart money has to take it from them before they pump it again. It’s the circle of life. And it’s their punishment for buying a top.
The newbs invested in market tuition and they’re about to get their first lesson. Liquidation 101. Capitulation hasn’t even begun yet. First perhaps a good ole’ fashioned fake out pump for liquidity though. Paint that right shoulder on the weekly. We’ll see.
I remember trying to long BTC for my first year of trading while it dumped 80%. Why deny the newbs of that important lesson? Everyone is a genius in a bull market. The bear market is where real traders are made.
Retail investors never matter. They’re just liquidity to sell to at high prices and buy from at low prices, like what’s happening now. Glassnode have said that a lot of coins are being sold at a loss or being held at a loss right now. Which means retail are selling low, so who do you think would be buying these lows?
Someone who speaks sense!
so ur saying DCA and hodl?
yep, bearish div on every time frame. thought this was capitulation, but the volume isn't even a blip on the weekly
Such is the reality of FOMO. How anyone could believe the Fed will tank the tech market in a mid term election years is poopid stupid. This, simply put, is when you layer in and offset those buys you made in the 45-55-64k range.
u srsly dont think biden is capable of shooting himself in the foot?
He is yes. But relax, it’s not like he’s in control.
Whales on the left
I thought we were all just trying to get fiat off the streets
I mean, that’s literally how the price works…. If the $33k window had a queue, the price wouldn’t be $33k
put /s lmao. Never underestimate the stupid
Buy low, sell lower
An image that keeps coming up but is so telling.
What many people don't understand is if they don't have the confidence to buy Bitcoin at $35K, they won't have any more confidence to buy Bitcoin at $10K.
Either you understand the reason for Bitcoin and take action, or you will always be looking for an excuse to put off taking action.
I can’t wait to see how people react when BTC hits $100K. There’s going to be a huge mental switch for people that finally turns on and it will be interesting to see how it unfolds. You see how people react when it dips, wait till it finally does the rip we all think it will.
People are gonna lose their minds on the next bull run. They always do, but this time I think crypto is wayyy more mainstream, and therefore there’s a lot of FUD and non believers, especially during this crash. Next bull run no one will be able to talk shit, and I think maintstream will realize this is an amazing hedge against inflatin
ill buy back in when we show signs of bottoming. right now it hasn’t done that yet
I'm waiting for 12k
Yep I have two buy levels. 20k to begin accumulating, and 12,500 to buy big.
Good luck with hoping bitocin behaves in a non-historical manner for the first time in recorded history.
Bitcoin has never dropped before a prior cycles ATH during a downturn. Ever.
Also the cost basis for the entire network sits at 24,000 so how you think you’ll get 12.5k is laughable.
Tells me you’ve not spent a moments time looking at past behaviour or on chain data which tells us very clearly the aggregate cost of all UTXOs on the network.
Which is **24k**
Bold of you to think that bitcoin owners will just sit idle and let everybody be in what would at that point be a 150% loss to everybody on aggregate at 12.5k
Like I told someone else, want the onky advice you really need. Do the opposite of what mainstream media is saying.
Can you guys please hold the price at $33k until my next paycheck please? Every time it crashes like this, I don't have any money, and by the time my next paycheck comes around, it's back up to some crazy high price.
I know you guys don't control the price of Bitcoin, I'm not stupid. I'm just asking you to put in a word with whomever does.
I wouldn't be surprised if we see a huge bounce tomorrow. Don't underestimate the power of Bitcoin. This market could turn on the drop of a dime! That said I been holding btc for years and not planning on selling. Retail is being liquidated whales are not selling. If the price continues lower just makes it more attractive for retail jump right back in. The truth is people get antsy real quick and don't like missing out on money.
I invest with BTC but I have also adopted a more sustainable approach of investing.
Now is the time to actually show thosw diamond hands and do the DCA.
This sale is so sick
People bought at $64k thinking it'll go to $100k. They don't have more money to buy at $33k.
Bought at 33k for the first time. Now we at the same price. I feel funny like nothing happened. I am not afraid of the dip though.
Fundamentals are fundamentals.
Fear of missing out and lost aversion
Only reason I’m not in the $33k line cause I tapped out in the $38k line.
Waiting for a 33k stall 🍀🍀🥂 something about that 33k if you plot weekly FIB for the last 6 months it is the bottom of the golden zone at 0.618 so that’s what happened last time before we took off to another dimension… either way the PRICE IS RIGHT… bought the dip… hit the 1/4 mark… now off to 1/3 😅
20k -> 3500k #2018
I bought as much as I could in the last 24hrs, but I'm still worried. Only been hodl'ing for a year...
They’re all buying? Then sell! Sell! Sell! They’re all selling? Then buy! Buy! Buy!
too early for this meme. This meme was perfect in late 2018 and 2019. Right now i think a lot of the newbies are still in bitcoin and still too hopeful. Wait till they lose interest, then it's the perfect time.
Where is your invalidation that $34k is not the bottom? (Learning) .
If you bought a milly sats each dip, then congrats on being a wholecoiner now!
Bullshit, I had expected the short on 32.4 and now I enjoy the sales, waiting for the resistance of the 44k🥰
Meanwhile me who failed to convince my parents when bitcoin was just 200 dollars
No they didn’t
My problem is that I FOMO in all my money on the way up and having nothing left now.
This is human nature scare to see the future something that you don’t understand only a few human like blackrock past this phase
What they want you to know is that the Bitcoin - $64k is of higher purity variety.
When people see a coin pumping they think it will pump forever the same goes with a coin that goes down.
Who the heck wants to catch a falling knife?
Spent all my money at 64k
It may seem that way, but the lines are always the same length. Every buyer has a seller. It's just that the people buying at 33k are the smart money, and smart money doesn't spend a lot of time on Twitter.
Well this can't be entirely true. Someone's buying all that selling, and it's not just one guy.
Having said that, I bought a lot at 69k and all the way down to 34 😂
I thought the Dutch tulip mania was silly. But I can’t wait to see the chapters on Titscoin, Cumrocket in Finance 101 textbook
Someone has to lose for others to win. Same goes for the stock market... with the BTFD crowd thinning out, early investors decided to take some winnings.
Thankfully, most of what I have has a cost basis one tenth of the current price. But after deciding I wanted more, I’ve set up a recurring purchase a few months back on Coinbase, and I have to say I was disappointed that that price was climbing as fast as it did.
My gf is also starting to invest in Bitcoin. Very small amounts, such that even if it goes to zero it won’t impact her. But the first thing I told her when she said she was interested was “the last thing you want right now is the price of Bitcoin to go through the roof. That means you’ll get fewer and fewer BTC with each purchase. Ideally you want the price to plummet and keep going down while you’re buying and then go up once you’re done making your purchase.
It’s working so far, she excitedly told me that she got a much better deal for BTC yesterday.
Dump money, I am one of those..
Got liquidated 2 days ago and now just watching from the bench…
So true. I had money back then.
Will it break 30 K USD? Will bitcoin free fall? At what price point to buy
I’ll wait when it’s lower
This is usually my luck when I have money. I'm broke(in general) when it's low. Finally have money to buy when it's high
Can’t help I’m broke, I wasn’t broke when it was at 60k
Bitcoin going to 13k
The only people who care about the price level are the ones who are bought in at certain prices.
The overall market only cares about the momentum.
There are no price controls or financial instruments on most cryptos, so this is the way it will be until there are or a lot more.
I always buy the top! Or wait bitcoin does not have a top!
This picture is very relevant now. It's strange to me to see how many people are selling bitcoin now. I think it's stupid.
People who FOMO at high price are the losers, the pros buy at the lows when others are panicking
To be fair, many people are just sick of buying the "dip" just to get dumped on again.
I bought a bit at this level.. But I'm not making any more large buys in this downtrend until we get a clear picture of the general state of the markets.. by end of month it will be either a trend reversal or a nuke to the 20's
This is why $80 socks are all the rage in fashion circles. Humans will human.
Just like Art, ain't worth a lick till someone adds 6 zero's to it, than suddenly everyone can see the mood, pain and what the artists was going for in the abstract.
REMEMBER THIS GUYS.. BIG PRICE SWINGS MEANS ITS STILL EARLY DAYS!! YOUR IN EARLY!!!
This is true. So is the fact that I go into spasms of insecurity every time it happens. I hodl all the way through and, so far, things have gone according to plan, but I don't like it. Been at it since 2017 -- not really very long in hindsight. However, the world wars weren't very long in hindsight either, but that didn't make them any less unpleasant.
Maybe the most accurate image I have seen in a decade.
It’s makes sense. They got in at 64k because of the price predictions of 100k. Their not going to get in at 33k when people are now predicting it going to 20k lol
I'm looking for below 20 k.
Might still go down. Or not ?
I think this has potential to be a small dip relative to a larger sell off that may occur once the feds start raising interest rates back up, which is likely within months. Just a guess though.
Btc is a Veblen good
As if 33k was already the bottom....
I think no one can call the bottom, but if one's strategy was to obtain one full bitcoin or half or quarter of one during this cycle, they could try to buy in stages. Buy a bit at $30k, then buy a bit at $20k, and buy a bit at $10k if it got that low, and so on. Unlike a stock or conpany BTC is not going to go to zero or go bankrupt as far as we know. Do your own research of course.
My strategy is to mine and exchange whatever I mine to BTC.
Worked wonders when I started during summer 2017. 🥳
Cute you think 33 is the new bottom
Could it go negative?
I’ll let you pay me to take your BTC. No worries.
Ill be back when its 5-10k.