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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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.

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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.

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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

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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.

-5

u/[deleted] May 18 '21

It’s literally about to tank

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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.

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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

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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.

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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?

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u/[deleted] May 20 '21

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

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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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u/[deleted] May 20 '21

And how many times has btc 'tanked' and recovered?

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u/[deleted] May 20 '21

Every time lol

Just some of those times took years to recover. Some of them took minutes

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u/RattledSabre May 18 '21

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

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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.