Crypto Is Crashing The Next Downward Movement Will Be Detrimental Another FTX Coming

[Reality]

Once again for the slow folks out there. You make your money when markets are down not when you buying at all time highs. This is the best time to DCA in Bitcoin and ETH. Same with the stock market this is the best time to DCA into blue chip stocks and the S&P 500 Index funds. Your older self will thank your younger self in the next 3 to 5 years.

This is way too simple a take, particularly for crypto, if you're paying attention. I don't think the bottom is in for either yet, and I definitely don't think the bolded horizon is a guarantee for decent returns if you buy now.

People keep applying the logic of what we've seen since like 2008 to this current market, and it's not real.

 

[Originalman]

This is way too simple a take, particularly for crypto, if you're paying attention. I don't think the bottom is in for either yet, and I definitely don't think the bolded horizon is a guarantee for decent returns if you buy now.

People keep applying the logic of what we've seen since like 2008 to this current market, and it's not real.

Breh you can't time the bottom in Crypto or stocks that is why you DCA. If you stand on the side line waiting for prices to get lower that is how folks miss out. You DCA and you don't have to worry about when is the bottom.

Also since crypto exchanges crash whenever a new low happens its even harder to get on exchange and buy which is even worse cause of flash crashes. So DCAing is still the smart thing to do.

 

[beenz]

Breh you can't time the bottom in Crypto or stocks that is why you DCA. If you stand on the side line waiting for prices to get lower that is how folks miss out. You DCA and you don't have to worry about when is the bottom.

Also since crypto exchanges crash whenever a new low happens its even harder to get on exchange and buy which is even worse cause of flash crashes. So DCAing is still the smart thing to do.

this is totally correct. if I have extra cash, I will DCA for stocks that I have if they drop significantly. otherwise, I just try to wait it out til they come back......hopefully

 

[beenz]

I don't agree with everything dave ramsey says or his overall philosphy of paying everything in cash and NEVER using credit, but I do agree with him when he talks about things u should and shouldn't invest in. he's long been against crypto tho

 

[Toe Jay Simpson]

It’s not the crypto itself brehs

It’s these shady exchanges that people flocked to that popped up out of nowhere

You could argue that this is an unregulated markets way of stabilizing itself and weeding out the uninformed

 

[beenz]

It’s not the crypto itself brehs

It’s these shady exchanges that people flocked to that popped up out of nowhere

You could argue that this is an unregulated markets way of stabilizing itself and weeding out the uninformed

but these exchanges all have their own shyt-coins too I believe.

this would be like if the nasdaq went into the crapper, which should never happen cuz it's highly regulated by the SEC.

 

[Savvir]

It’s not the crypto itself brehs

It’s these shady exchanges that people flocked to that popped up out of nowhere

You could argue that this is an unregulated markets way of stabilizing itself and weeding out the uninformed

Unregulated markets don't have any intrinsic "need" to ever be stable tho... you act like stability is a natural position that all markets must achieve when really its more like a garden that will get overrun with weeds if there isn't active work on keeping the crop stable.

 

[boskey]

It’s not the crypto itself brehs

It’s these shady exchanges that people flocked to that popped up out of nowhere

You could argue that this is an unregulated markets way of stabilizing itself and weeding out the uninformed

It's the crypto man. If it had any value these exchanges wouldn't be broke. They are selling nothing and people aren't buying anymore.

FTX had a trillion “dollars” worth of coins but no cash

 

[CrimsonTider]

Breh you can't time the bottom in Crypto or stocks that is why you DCA. If you stand on the side line waiting for prices to get lower that is how folks miss out. You DCA and you don't have to worry about when is the bottom.

Also since crypto exchanges crash whenever a new low happens its even harder to get on exchange and buy which is even worse cause of flash crashes. So DCAing is still the smart thing to do.

Why would you dollar cost average into crypto?

 

[Gloxina]

Once again for the slow folks out there. You make your money when markets are down not when you buying at all time highs. This is the best time to DCA in Bitcoin and ETH. Same with the stock market this is the best time to DCA into blue chip stocks and the S&P 500 Index funds. Your older self will thank your younger self in the next 3 to 5 years.

Now this is def true. Hate to say it but I’m hoping it dips more. These are the moments where real money is made.

 

[Originalman]

I don't agree with everything dave ramsey says or his overall philosphy of paying everything in cash and NEVER using credit, but I do agree with him when he talks about things u should and shouldn't invest in. he's long been against crypto tho

I been listing to Dave since I was a freshman in college. He is all on the AM radio in the south especially in small towns.

Anyway Dave is A1 for folks to get out of debt and pay off shyt and build a nest egg. But he is horrible when it comes to investing after paying off your debt outside of telling folks max out your 401K and IRAs. This dude be telling folks to dump money in these high fee ass mutual funds talking about 12% returns (which ain't true) when the fees be 1.00 to 1.5. When all jokers need to do is dump they money in index funds even if its VOO that has a fee of .01 to .03.

 

[Originalman]

Why would you dollar cost average into crypto?

You DCA in crypto or stocks so you don't have to time the bottom. Or even blow your load and put all your money in and have no more cash on the side.

So for example lets take bitcoin. lets say you had 6K cash to invest over the last 6 months (to make the math easy). Instead of dumbing entire 6K in June when it was 30K a coin. You instead DCA 1K a month. You would have a lower cost avg because you DCAed into Bitcoin and now you would have more instead of less because your avg cost would be less. Instead if you FOMOed in with the entire 6K in June.

We could change this to apple or google or VOO or any stock. Basically DCA is the same thing your company does for you with you 401K. They DCA a set amount into your investments once a week, or once every two weeks or once every month. Its one of the best ways to invest because it is hard to time the market whether Crypto or the stock market.

 

[Tribal Outkast]

I haven’t seen too much talk about stocks or crypto lately. It’s funny how that works. People out here treating this shyt like a get rich quick scheme. I’m no expert but you have to just put your little money in there and leave it alone..

 

[beenz]

I been listing to Dave since I was a freshman in college. He is all on the AM radio in the south especially in small towns.

Anyway Dave is A1 for folks to get out of debt and pay off shyt and build a nest egg. But he is horrible when it comes to investing after paying off your debt outside of telling folks max out your 401K and IRAs. This dude be telling folks to dump money in these high fee ass mutual funds talking about 12% returns (which ain't true) when the fees be 1.00 to 1.5. When all jokers need to do is dump they money in index funds even if its VOO that has a fee of .01 to .03.

you can also buy index funds on the regular stock market or buy mutual funds, which have no fees.

 

[Originalman]

Now this is def true. Hate to say it but I’m hoping it dips more. These are the moments where real money is made.

Its true. When Covid hit in March 2020 I invested even harder in the stock market cause everything was cheap (401K, Roth IRA, individual accounts and etc). I learned my lesson from 2008 thru 2009 and made sure I made some money from the dip in 2020.

I will never forget a old white dude I worked with telling me at like my second job out of college that when folks you work with screaming about their retirement funds going down that is when you invest harder.

He mentioned that when 9/11 hit his retirement fund got cut in half from 3 mill to 1.5 (he had been with the company 30 years and still had like 10 more years to work) due to the market crash. He panicked and pulled his money out of that the specific funds and then placed them in bonds and adjusted his future investments to bonds. He said that was the dumbest mistake he made and probably cost himself at least 2 to 3 million. Because the market came back and on top of top of that he wasn't investing in the market (just bonds) when everything was down. Dude told me as a youngster to him don't ever do that dumb shyt unless you need to retire in a year or two.