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

BornStar

BornStar

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Slimkid07 said:
Of course, that number differs for each individual and your circumstances.
For me personally, I want to hit 8 figures and call it a day. But what I need to do at the very least (and should have during the last bull run in 2021) is cash out some to pay off my house and all expenses. The 75% of 9-5 income would be going into investments and crypto to expedite the retirement.

If you have absolute, disposable income that wouldn't hurt you if you lost it..

Main wallet = Major essential projects and coins. BTC, ETH, SOL, LINK, BNB, etc. These should be biggest percentage of your holdings and one you dollar cost average on. Also, these projects have massive liquidity that allows you to have big cash outs that would not disturb the overall price of coin.

Mild risk wallet = Good, upcoming projects. SUI, SEI, Toncoin, FET, Arbitruim, Injective, AERO, etc. I'd also dollar cost average on these too. Pray one of these turn into the next SOL or BNB.
Hopefully, you can hold the gains on these two wallets for over a year so the taxes you pay after cashing out are long term gains and not short term.
A couple of years ago, I had to pay about $40K in taxes after converting some memecoins that I held for a couple of months.

Degenerate wallet - Memecoins/shytcoins If you invest and these hit, most of the time they won't have a lot of liquidity that will withstand whales unloading their bags on, unless it's a 5 star meme like dogwifhat, BONK, SHIB, BRETT, etc. If you got in early on something that hit, notice what other whales are doing and take profits. Don't go ham and dump the whole thing because that would cause fear and trigger a bunch of limit orders and fear.

Always take out your initial investment if possible. If you ever hit big on these, I'd take a big chunk of the profits to feed your more solid investment/wallets.
However, be prepared to pay Uncle Sam at the end of the year on your memecoin profit. Because they're so volatile, there's a 99% chance you're trading these under a year.
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40k is eye watering. You had to do that all at once? And Do you advise paying quarterly if possible?
 
Slimkid07

Slimkid07

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BornStar said:
40k is eye watering. You had to do that all at once? And Do you advise paying quarterly if possible?
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Man, $40k in taxes ain't shyt compared to what we'll all be making when taking profit during this run.:obama:
I paid my tax bill all at once and cried afterward.
You can set up quarterly payments but I preferred just knocking it out when it was due because I hate having debt.
 
Xyrax

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hood b. goode said:
:damn:
anywhere i can read up a little more on this?
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BornStar said:
40k is eye watering. You had to do that all at once? And Do you advise paying quarterly if possible?
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Deeeefinitely keep an eye on this brehs. I know some folks are new to this. But LTCG versus Short Term capital gains is huge when going into a year that we know will likely hold a new altseason. I had 3/4 more BTC slide into long term back on 11/2. So I am currently moving those off of my ledger and onto coinbase and kraken to pick up stuff like AERO/Jito/INJ/SUI and what I am keeping close tabs on is the capital gains tax that Im going to need to pay in March on the profit on this BTC as they were around 30k per BTC at the time of purchase but damn near 80k a pop now when I am liquidating them to alts.

I swear to god I had really hoped that the market didn't really start moving the alts like this until January 1st so I could have held off until the next tax year before needing to pay the tax on those gains but :mjgrin:


Anyways, don't get hit with an unexpected tax bill brehs. Do the math on that shyt now. There's a bunch of online calculators you can use to help with this like:

smartasset.com

2024 Capital Gains Tax Calculator - Long-Term & Short-Term Gains

You may owe capital gains taxes if you sold stocks, real estate or other investments. Use SmartAsset's capital gains tax calculator to figure out what you owe.
smartasset.com smartasset.com
 
W

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In The Zone '98 said:
Bitcoin did about 13 percent for the week. If that trajectory held it would put us at about $105K on Dec 1st. Six month outlook at current pace $300k for May 2025

If BTC does 6 percent a week it puts us about $90K on Dec 1st. May 2025 for about $190K

If BTC does 2 percent a week it puts us about $82K on Dec 1st. May 2025 about $110K


This train leaves with or without you
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Realistically speaking, how high do you see this ever hitting? How low do you ever see it going again?
 
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