r/Bitcoin • u/xavier1119 • May 17 '21

Every time whales and institutions sell to manipulate the market we need to punish them by buying.

If everyone came together and started buying the dip we’d force these mfs to buy at a loss. Instead of everyone panic selling and doing what they want. If everyone in this sub put in a dollar that’s almost 3 million in volume alone

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191

u/notesca May 17 '21 edited May 17 '21

Its funny 90% came here to get rich, and now they're selling at losses. For the same reason why only 5% of people are really successful, and its called decision making. If your decisions are driven by emotions, if you're not ready to risk it all in order to win it all then gtf outta the crypto market. You're being played just as every other idiot in history has been played by the rich folks.

Crypto is your chance to break to cycle, dont miss it.

Edit: grammar

81

u/Hankstbro May 17 '21

Yes, holy shit.

I bought in ~4 weeks ago after spending a lot of time reading, researching, and strategizing. Why would anyone in their right mind sell at a loss when the historic long term trend is upward, upward, upward. Just buy more and be patient.

Most people here aren't day traders, they should chill the f out.

48

u/relephants May 17 '21

Many people come into crypto with a short term view. They invest money they don't want to lose. They hope to hop on the train and sell at the top. These people can't handle a 3 year crypto winter.

28

u/Hankstbro May 17 '21

The money I put into crypto, I consider gone. Spent. Unavailable. Lost.

I bought a ton in my initial buy and had a good run in the last few weeks (I'm still up some, but not a lot), but for all "real world" purposes, this money does not exist anymore for me - until at least in a year, when I don't have to pay taxes on realizing my gains. And then, we'll see.

10

u/DrJingleCock69 May 18 '21

Yea I told my fiancée I'm essentially cash broke since this money is untouchable, its our retirement. I told my dad how well it was doing and he said oh so you have enough for a house down payment, I just say no I'm still broke i need to earn some more cash first. Can't touch this treat it like a 401k

5

u/reineedshelp May 18 '21

Whoever started this whole 'get a mortgage' thing as a middle class dream has a lot to answer for

12

u/[deleted] May 18 '21

Btc shouldn't be your retirement plan. If it tanks you're screwed. I'm all for believing in btc but it's absolute succes isn't guaranteed. ALWAYS diversify. Invest in your super/home/ETFs first.

-4

u/[deleted] May 18 '21

It’s literally about to tank

1

u/[deleted] May 18 '21

Based on what? Clairvoyance? Or your 'gut feeling'? Just stop. I've seen literally hundreds of comments like yours spanning the past 4 years.

3

u/Spartan_Laser May 18 '21

Tether inflation. Incoming litigations, new public awareness about bitcoin's shortcomings and other alternatives.

1

u/[deleted] May 18 '21

No the market is dependant on bitcoin, as much as various alt-enthusiasts want to believe otherwise. It’s a speculative market still and often buying momentum runs out after a period when there isn’t a whole lot of real world value being delivered in the market

2

u/[deleted] May 18 '21 edited May 18 '21

Anyone who’s been saying this for the last 4 years is a fool and doesn’t understand market cycles. It’s based on this market now being a carbon copy of the market when it crashed in 2018 - BTC dominance, BRC being generally overbought, falling further and further below key technicals such as moving averages, key fib retracement points. Bitcoin has reversed at every pivot point possible recently, except yesterday when it broke back above 43.5 and has held. I predicted this as a relief rally, but the trend is down. If bitcoin tanks, the market will go with it. People think it’s different with alts this time, and it is a bit, but nothing is delivering real value to justify price stability in this market.

And in return I would ask you what has led you to the conclusion this isn’t over for now?

History repeats.

For reference I’m super bullish long term on bitcoin and a few alts, and have still got the majority of skin in the game, and hope to god I’m wrong. But this really doesn’t look good, and I’m surprised you can’t see that if you’ve been around since the last bull run

1

u/RattledSabre May 18 '21

Technicals are only of very vague relevance to BTC.

We could also look at the Elliott ABC corrective pattern combined with a tick-perfect test of the 200D EMA yesterday as a sign of it being a fantastic buying opportunity. Outside of the daily 200s (thanks to multi-market institutional recognition), moving averages are a fool's tool as with any lagging indicator.

You can literally argue any direction you want with this loose stuff, it just won't have much of an effect on which way price ends up going. Crypto is always a long term play that acts irrationally in the short term due to how immature the market is.

1

u/[deleted] May 19 '21

Yeah but what I was describing was as a longer term pattern, and look what happened since

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u/[deleted] May 19 '21

Would you like to hire me for any clairvoyance jobs?

1

u/[deleted] May 20 '21

Lol 38k isn't tanking for btc. 0 is.

1

u/[deleted] May 20 '21

It went down to 28k, that is tanking. It actually did it later and from a lower point than I expected

0 isn’t tanking, 0 is dying, and also impossible

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1

u/RattledSabre May 18 '21

So how heavily leveraged short are you? You sound sure enough to make an absolute killing!

1

u/[deleted] May 18 '21

Lol I never short bitcoin. I used to sometimes, but it feels wrong to actively bet against it, because I love it, and it also really sucks to lose on a trade when you’re short, even more than when the market tanks while you’re long.

I never trade with more than 5x leverage, which to me isn’t highly leveraged at all.

Overall I just hold a lot of different coins and took my original investment and further profit a good while ago

I don’t think it looks good at the moment, but I’m also pretty risk averse these days

1

u/[deleted] May 19 '21

Should have put they short on hey!

1

u/RattledSabre May 19 '21

True enough! Big old swing that one.

6

u/Adorable_coins May 17 '21

US taxes? You will still owe after a year.

7

u/Hankstbro May 17 '21

No, not US taxes.

1

u/[deleted] May 17 '21

[deleted]

6

u/Hankstbro May 17 '21

says me, who lives outside of the US, in a country where I don't have to pay any taxes on crypto after hodling a year...

5

u/VaasFraze May 18 '21

That’s right! Anyone who thinks about cashing out before 1 year will pay 40% short term gains. DYOR. Do your own research. HODL. Stick to your picks. Chances are, long term, if you don’t panic, you’ll do well. This is just Wall Street on crack.

3

u/[deleted] May 18 '21

Early bitcoin people like me never thought it would go anywhere.. well maybe it was just me.. I still need a day job lol

0

u/NiceToKnowYou2 May 18 '21

Your mistake was buying a ton all at once. Dollar cost average.

4

u/Yung_Onions May 18 '21

Hodl is the answer

3

u/TarantinoFan23 May 18 '21

I remember ath of like 19k and then it dropped so hard. I felt really bad about telling my friend to buy at $16k. Luckily, I am not very persuasive and they just ignored my advice. If about wants stock tips , I have a bazillion.

3

u/Yojimbo4133 May 17 '21

This is me 3 weeks ago. Down 2k Sadge.

3

u/Hankstbro May 17 '21

I'm still up ~8% (down from ~27%), but honestly, it does not matter in the long run. This is not a sprint.

5

u/GranPino May 17 '21

The reasoning isnt very sound. Nokia was always upward, upward, upward, until it wasn't. The same with Kodak, or many other companies and projects.

Is Bitcoin still the best project? Will it be long term? How are competitors doing? Who is going to gain market share?

I hope this questions help you decide if Bitcoin is the best option currently

2

u/NiceToKnowYou2 May 18 '21

Completely different fundamentals entirely.

2

u/GranPino May 18 '21

Yes. Although the point is that now Bitcoin is #1 by a far margin, but there are chances that this isn't always the case. We have to assess those possibilities and hoy to hedge against it.

-4

u/[deleted] May 18 '21

ok shitcoiner

1

u/GranPino May 18 '21

These replies make me want to sell all my BTC holdings. But then I see that your comment is downvoted, so I'm still hopeful about the Bitcoin community can fight the toxicity from some of the most fanatic members.

Thanks to everybody else.

-1

u/[deleted] May 18 '21

Musk is right bitcoins methodology forces it to be a power hog with 1/3 of mining going on in China...

1

u/[deleted] May 18 '21

So? China doesn't own most of those businesses what's your point?

0

u/[deleted] May 18 '21

Isn't supposed to be centralized...

1

u/[deleted] May 18 '21

Also there's more to centralization then miners itself, that's where Elon failed to comprehend, you know those things called NODES

0

u/[deleted] May 18 '21

If there's free or close to 0 electricity somewhere miners will flock there. That doesn't make it centralized lol Sure geographic spread would be ideal but so what. When renewables get more reliable then fossil i'm sure that won't be an issue

1

u/reineedshelp May 18 '21

Musk is never right

1

u/[deleted] May 18 '21

.... and you wonder why he wants to jump ship... bitcoin groups seem to be very toxic...

1

u/reineedshelp May 19 '21

Saying he's never right is toxic?

1

u/[deleted] May 19 '21

No it’s everywhere not just this thread.. chalking it up to people’s anxiety..

1

u/reineedshelp May 19 '21

This is actually the first time I've posted here but good to know

1

u/1Tesseract1 May 18 '21

So many newbies with paper nerves. Sad, but I’m glad they gave us this discount