1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

Capitol

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might cop some more ETH
Its interesting because I feel like I should diversify because ETH is already a large portion of my portfolio but I still estimate this to be a good discount for how valuable ETH could be in the long run. If that bish dips again after I buy it tho. Laawd have mercy :wow:
 

mannyrs13

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Why is crypto following the stock market?

People would sell anything they can in order to get more dollars. Especially if there are fears of the government's doing something about it. Whether it's regulation or increasing costs of other goods. Government can't pay its bills with crypto so they sell it for dollars when they need the money and then everyone else follows. Until they start printing more money, we might not see an increase. Country already trillions in debt and they just raised the debt ceiling. Don't know how long that will last before someone comes along for their money. They taxing us more and more to pay down the debt yet they raise the limit so they can add more debt. I feel like all the markets are correlated whether crypto, stocks, derivatives, whatever.
 

CrimsonTider

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People would sell anything they can in order to get more dollars. Especially if there are fears of the government's doing something about it. Whether it's regulation or increasing costs of other goods. Government can't pay its bills with crypto so they sell it for dollars when they need the money and then everyone else follows. Until they start printing more money, we might not see an increase. Country already trillions in debt and they just raised the debt ceiling. Don't know how long that will last before someone comes along for their money. They taxing us more and more to pay down the debt yet they raise the limit so they can add more debt. I feel like all the markets are correlated whether crypto, stocks, derivatives, whatever.
:dahell:
 

old pig

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some slight hope…saw this in the stock discord but it applied to crypto as well in 2017/2018…there was a lull in the market after xmas…but then things picked back up the first 2 weeks of the new year…there is absolutely truth to his tweet but I still think he’s undermining the impact of omicron which forced money out of the market sooner imo…from what I recall, folks usually sell for tax purposes later in december…usually right before/around xmas

 

mannyrs13

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some slight hope…saw this in the stock discord but it applied to crypto as well in 2017/2018…there was a lull in the market after xmas…but then things picked back up the first 2 weeks of the new year…there is absolutely truth to his tweet but I still think he’s undermining the impact of omicron which forced money out of the market sooner imo…from what I recall, folks usually sell for tax purposes later in december…usually right before/around xmas


I think we had something similar this year but I gotta get thru another chart first and then I'll look at the market cap one.
 

mannyrs13

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Right now my most questionable coin is Link. Not that I question its capabilities but its price direction. I moved all my coins to my MM just in case I need to get rid of them quick and swap them for UST to stake. Maybe just do 10% at a time, not sure. I did see a pattern when looking at the chart. Starting with last year. In circle A thats July 2020 which is the low of the trend. Then it went up but back down and touched the trend line in December 2020 at B, followed by a bigger increase from Dec 2020 to July 2021 and then another dip in July at C, and a smaller pump from July followed by this current dip, D. So if it has small pumps from July to December and big ones from December to July then it should be in line for another one these upcoming months. May 2021 was the high. People expected it to hit $100 by EOY but I don't know if we'll even get that by end of next year. $65 might be the next top, maybe even just $60. Seeing if I keep an eye on that trend line cuz any major dip below it might have to sell. Hopefully it doesn't drop down to the C level but I might be gone way before that if things don't flip. Does have potential tho like seen in B and C.


jNZJD44q
 

mannyrs13

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hNrniBqI


Yeah last year/this year looks like we had a run in mid December then another one in early February. There's gotta be some data stored saying what happened back then. I can't remember at all but I know there had to be a reason or something that occurred back then. Unless it was the same take profits for the holidays and then maybe in February thats when people started getting their tax refunds or a stimulus check in.
 

Xyrax

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some slight hope…saw this in the stock discord but it applied to crypto as well in 2017/2018…there was a lull in the market after xmas…but then things picked back up the first 2 weeks of the new year…there is absolutely truth to his tweet but I still think he’s undermining the impact of omicron which forced money out of the market sooner imo…from what I recall, folks usually sell for tax purposes later in december…usually right before/around xmas



I think we had something similar this year but I gotta get thru another chart first and then I'll look at the market cap one.

I would be careful with this. The spike I remember in early 2018 was for altcoins (not bitcoin) which is fine if you are holding alts, but it preceded a humongous drop and the start of the official bear market. Ethereum was $1300 Jan 12th of 2018, but it was $500 by April and $195 by September and $88 by December that very same year.

Its true that tax refund time can find people buying for sure; last year however you also would have to remember that this was when stimulus checks started going out. And that wont be replicated in 2022. There was even a stimulus check this year thanks to Georgia in the runoff election so its REALLY hard IMO to look at past Januarys through May and draw any hard conclusions.

Im not saying things are going to go down at all. This could just be a shake out of weak hands before we see another 6 months of crazy rises that leaves people asking themselves why they didn't buy at a discount 'back in December'.
 

old pig

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The spike I remember in early 2018 was for altcoins (not bitcoin) which is fine if you are holding alts, but it preceded a humongous drop and the start of the official bear market.

this is what I’m still anticipating even tho things deviated from 2017 around the middle of november…although I don’t think the correction will be as severe as 2018
 

Slimkid07

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I would be careful with this. The spike I remember in early 2018 was for altcoins (not bitcoin) which is fine if you are holding alts, but it preceded a humongous drop and the start of the official bear market. Ethereum was $1300 Jan 12th of 2018, but it was $500 by April and $195 by September and $88 by December that very same year.

Its true that tax refund time can find people buying for sure; last year however you also would have to remember that this was when stimulus checks started going out. And that wont be replicated in 2022. There was even a stimulus check this year thanks to Georgia in the runoff election so its REALLY hard IMO to look at past Januarys through May and draw any hard conclusions.

Im not saying things are going to go down at all. This could just be a shake out of weak hands before we see another 6 months of crazy rises that leaves people asking themselves why they didn't buy at a discount 'back in December'.
Good post.
 
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