@arakouzo I get that panic though, I had a bit of that when I first dipped into cryptos. HODL is too difficult for most people to mentally handle. My first investment was $15 of Stellar Lumens and it dropped to $9.50-$12 up and down for over 10 days. It finally reached $30 by the end of the month after I stopped looking at it for 2 weeks and considered it a loss lol
@Fawk_Face You're still bully on the 9k ETH by the end of the year?
It's getting a lot of flack for the big gas fees and the over-hyped 2.0 version. I think it's a good buy, but back when it was shooting up from 700-1500, it was running laps around everything. It's slowed its roll a bit and the FUD crowd is claiming it's going to get replaced by better alternatives.
@TiberiusBravo87 It's probably just the bitcoin futures thing. Mining pools and other whales were dumping to keep the price down, and now the market is shell-shocked by the dip and a lot of normal people are panic-selling. They wake up in the morning and see a partial recovery and rush to sell at that partially recovered price before everyone else can, driving the price back down during the day.
Crypto is a worldwide thing, and most people pay taxes on crypto profits and have been for ages. This dip isn't people cashing out due to fear of government regulation.
Most YouTube gurus think things are going to bounce back in March-April. Either this is the near-bottom and BTC turns back around and pulls some of the other stuff up with it (it's struggling with 45k as resistance currently) or there's one more fall to the 40k level, where most people think the buy pressure is going to be too huge for BTC to go any lower. If BTC drops that low and springs back, the price of everything will go up pretty impressively. But this will probably be the last big wave of the bull-run, so think about taking some profit during that ride. (Unless something really has fundamentally changed in the market thanks to all of the whale and institutional involvement.)Read More
A couple of subreddits I would recommend following. Best way to learn is to pick a coin and go through the process, watch the charts and get familiar with the ups and downs. Terminology can be fairly dense but not unmanageable.
Honestly, for the most part it’s just about researching a coin and investing in one that appeals to you. I’d start with BTC and ETH, they are the staples and then when you’re familiar with the territory look into diversifying.
Any questions you have right off the bat?
@arakouzo Eth back down to $1350 again and this time all the other alt-coins are staying down. I've come back from a larger dip a month ago. So what would cause crypto market to go south? I think we should pay attention to the news. When they start bringing bills in to further tax crypto in the US, ban it in any way (even if just single coins), or add rules in how you can cash out then that would be a very good time to hurry up and sell before everyone else catches the panic and prices plummet.
If bitcoin gets down to 40-41k (or God forbid if it wicks below 40k), I'm buying another decent chunk. There's a good chance that's as low as it goes and all of the whale long buys kick in then. (Unless it turns around before then, which could also happen.)
Well, unless this is the end of the current bull run and the crypto market is actually going south for a few years...