What happened is really interesting. In the next few weeks don't be surprised if we see a new All Time High as the whales rebuy everything they sold, and more.
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This is what is crazy to watch now that I’ve become aware of this weirdness. There are people who want the crashes - they sell on the peaks and then buy back in on the crash, constantly increasing their portfolio while banking profits. Guessing that’s the same with shares and stuff too. I’ve also become aware of people shorting the cryptocurrencies which shouldn’t be remotely surprising but I have real issues with that in the real world - the failure of something should not be made attractive to people.Comment
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The emergent vaccine scandal gets even worse, with the ceo taking gobsmacking amounts of bonuses and stocks while millions of vaccines were left contaminated in poor facilities where the money should of actually been spent.
Bet a big mac he never sees even a fine let alone jail time.
https://arstechnica.com/science/2021/05/emergent-got-27m-a-month-to-prep-vaccine-plant-then-ruined-15m-jj-doses/Comment
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Thats where HODL comes from. The average holder of bitcoin cannot possibly sell high and buy low with any degree of certainty. Even when it was going down yesterday, nobody knew the bottom and sods law dictates that as soon as you offload it goes up 5 grand in an hour!Originally posted by Dogg Thang View PostComment
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Yep, exactly. But you can see how easily moved the market is. If you're a whale and you hold massive amounts of Bitcoin or other cryptocurreny, you can essentially sell enough to trigger a dip and then buy back in on that dip. If a few whales do that at the same time, you have a crash. But one designed to be temporary.Originally posted by cutmymilk View Post
I find this twitter account fascinating: https://twitter.com/whale_alert. It shows transactions over certain amounts and the value of money being moved over the last couple of days is just insane.Comment
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If you're seeing profit, take it. No one ever went broke by doing that. Bitcoin is so volatile and so heavily manipulated that you'd be crazy not to imo.Comment
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That is amazing. Imagine punting 80 million around on binance!!Originally posted by Dogg Thang View PostComment
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There is no point getting into crypto with that mindset. For the average person, this is a chance to generate serious money. Enough to pay off a mortgage, maybe. I wouldn't take profit for the sake of a few grand, unless I REALLY needed it. HODL and it might turn into something. It might not, but you won't lose everything like some people say.Originally posted by wakka View PostComment
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I don't know if you've ever transferred cryptocurrency but I find it terrifying. If you get it wrong, it just vanishes into the void. It's gone forever. I can't imagine what that would be like with huge numbers.Originally posted by cutmymilk View PostComment
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I did some in the olden days of 5 years ago and yeah, it disappears for several hours!Comment
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There is absolutely nothing wrong with taking profit on an investment, contrary to what the hopium smokers on r/bitcoin might have you believe.Originally posted by cutmymilk View PostComment
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Yeah thats true but imagine if you bought at £1 and sold at £2. That's pretty crap in the grand scheme of things. If you bought at say £10k, when would you have sold?Comment
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Me personally? I wouldn't have bought a bitcoin for £10k in the first place - but I would disagree that doubling your money is 'pretty crap', and I'd be looking to at minimum reclaim my initial investment at that point.
Of course, if my initial investment was £1 - hey, I'd probably let it ride!
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The thing is, at the end of the day when you sell depends on your risk tolerance, how much faith you have in future growth, and how much the money you have invested means to you.
But if I had put in a significant sum (6 months income or more), I would always look to at least hedge that by taking out my initial stake if I saw profit, even if I had faith in continued growth, and especially if the profit was on the order of 200% plus.
That's me personally - but you might have a different risk tolerance/may have put in a sum which is insignificant to you/might firmly believe that bitcoin will grow exponentially in the future anyway.Last edited by wakka; 20-05-2021, 11:57.Comment
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You don't have to buy a whole bitcoin dude. I bought a fraction when it was at an all time high, saw it go down to £3k a coin, then up to £40k a coin and now down to around £30k. Still holding. I would definitely say I have a high risk tolerance but I also put a relatively small amount in and it's a way more interesting than investing in Tesco and hoping to turn £1000 into £1500 in 10 years.
I don't mean doubling is crap but if you had 100 bitcoin and sold them for £200 back in the day you'd be pretty pissed off now!!Comment
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I'm putting all my money into Hirstcoins. You can buy one Hirstcoin for £100. If anyone asks me if you own that Hirstcoin, I'll tell them "sure".
N.B. Hirstcoins may only be bought with actual real money that you've given me. No receipts given.Comment
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