WTF is now wrong, all cryptos down?

[thomasparra]

I would not put more than 10-20% of my net worth into crypto (BTC, ETH to a lesser extent). Every situation is different, maybe if you are worth $10M with your main place of residence already paid for, you would not mind risking 5M @ 50% crypto exposure, but for someone who is worth less, and not safe economically it sounds more risky. Anyhow, I plan to buy more BTC today.

 

[thomasparra]

I would not put more than 10-20% of my net worth into crypto (BTC, ETH‌ to a lesser extent). Every situation is different, maybe if you are worth $10M with‍ your main place of residence already paid for, you would not mind risking 5M @⁠ 50% crypto exposure, but for someone who is worth less, and not safe economically it⁤ sounds more risky. Anyhow, I plan to buy more BTC today.

 

[cryptofriendly]

Really? Would you prefer a depreciating fiat currency instead, at the most exciting point⁢ in the 4 year cycle?

As of today, I got exactly 99.996% in BTC and︀ BTC derrivatives, 0.004% in fiat.
Risky? Well, your fiat money won't buy more goods in︁ 8 months than today, that's for sure.

No main residence, no fixed income, no stocks,︂ nothing in the bank, currently renting a villa 5 minutes walk from the beach, holding︃ just enough fiat currency for a frugal lifestyle for the next 8 months. I don't︄ mind keeping costs down, as every dollar that I save today (=invest in crypto) will︅ be $2-$3 at the end of this year.

This will change around October, but until︆ then, I see BTC as offering the best risk/reward.

Just follow the cycle, everything else︇ is white noise, as is today's action.
None of the 40 top indicators is flashing︈ yet.

 

[void]

to do what‌ with the rest? I guess @wellington is wasting his precious time here relentlessly repeating the‍ story about debasement all over again

you can't use absolute numbers but in general whatever one⁢ plans to save and not touch in the next 5 years should be in BTC︀

 

[Mercury]

I read a contradiction here smi(&%

 

[void]

you must be looking at another chart then... bitcoin SV⁠ perhaps? the name might be confusing 😉

even if you deliberately compare current price to the⁤ top from Oct 2021 it's still pretty good.... really not sure what you're talking about⁣

 

[thomasparra]

cryptofriendly said:
Really? Would you prefer a depreciating fiat currency instead, at the most exciting point in the 4 year cycle?
Click to expand...

I am not sure how you come to this conclusion but if this is in reference to the US presidential term this is not a reliable assumption.

cryptofriendly said:
As of today, I got exactly 99.996% in BTC and BTC derrivatives, 0.004% in fiat.
Risky? Well, your fiat money won't buy more goods in 8 months than today, that's for sure.
Click to expand...

This is once again an assumption.

cryptofriendly said:
No main residence, no fixed income, no stocks, nothing in the bank, currently renting a villa 5 minutes walk from the beach, holding just enough fiat currency for a frugal lifestyle for the next 8 months. I don't mind keeping costs down, as every dollar that I save today (=invest in crypto) will be $2-$3 at the end of this year.

This will change around October, but until then, I see BTC as offering the best risk/reward.
Click to expand...

This is also an assumption. Your conviction, and your personal situation does not mean that other people should replicate it. This is why diversification is key. Only if I had top of the line insider information I would commit 100% of my net worth into a single stock/product.

cryptofriendly said:
Just follow the cycle, everything else is white noise, as is today's action.
None of the 40 top indicators is flashing yet.
Click to expand...

"Technical" analysis is not helpful for long-term investing.

Throughout your post, I have already detected two major cognitive flaws (confirmation and overconfidence biais) which are natural inner ennemies of any investor.

void said:
to do what with the rest? I guess @wellington is wasting his precious time here relentlessly repeating the story about debasement all over again


you can't use absolute numbers but in general whatever one plans to save and not touch in the next 5 years should be in BTC
Click to expand...

So you would recommend the average Joe to invest in BTC only, and not stocks, real estate etc? This is a pretty bold move.

 

[thomasparra]

I am not sure how you‍ come to this conclusion but if this is in reference to the US presidential term⁠ this is not a reliable assumption.

This is⁢ once again an assumption.
This is also an︅ assumption. Your conviction, and your personal situation does not mean that other people should replicate︆ it. This is why diversification is key. Only if I had top of the line︇ insider information I would commit 100% of my net worth into a single stock/product.
"Technical" analysis is not︈ helpful for long-term investing.

Throughout your post, I have already detected two major cognitive flaws︉ (confirmation and overconfidence biais) which are natural inner ennemies of any investor.
So you would recommend the average Joe to invest︍ in BTC only, and not stocks, real estate etc? This is a pretty bold move.︎

 

[void]

exactly, because it's actually no investment, it's a conservation of value the average Joe made, which‍ is something 99% of people should only do
instead the poor uninformed plebs is pushed⁠ by the narrative of the state towards reckless "investments" in the pursuit of financial safety⁤ but it's the exact opposite - it's just pure gamble as these people have zero⁣ edge in what they're doing

 

[Houdini]

@TheCryptoAnt I would really like to read your opinion on todays shitstorm on the crypto‌ market ? 🙂

 

[JackAlabama]

yes, totally Id suggest that: DCA into bitcoin and︂ forget it and continue with the job.
the average joe has exactly 0 to gain︃ from stocks and re, where you indeed need your 10m to start having some significant︄ impact and benefits of the dividends (if your numbers are small, they wont be big︅ until youre of old age).

 

[TheCryptoAnt]

Shitposting aside; its ok just going sideways.
So far it holds 92k on a closing basis (H4/H12) still looks good.

 

[TheCryptoAnt]

much worst brother; my twap started at 88k ange¤%&

I mean the⁠ attached FYI

 

[TheCryptoAnt]

lmao

unironically you kinda have⁠ to go through a face like that in order to achieve greatness in trading. My⁤ charts in '18/19 were clustered with bs

 

[JackAlabama]

where are the elliot waves⁠ here? smi(&% smi(&%

 

[JackAlabama]

excellent! 😎 thu&¤#

 

[void]

I need guidance (for free obviously...) - does‍ it mean I should buy, sell or wait? 😀

 

[void]

this pattern makes me buy.... it's obvious

 

[Dreamy]

just wondering, you always say bitcoin bitcoin, but what about everything else? american‍ SOL, or american ripple... or canadian ETH. Or is it all nonsense, and in your⁠ opinion it is only worth buying btc at any price always, and not looking at⁤ alternatives at all?

 

[polonieth]

Not every crypto is rekt: