Cryptocurrencies Part III - We ran as if to meet the Moon

[The Crypto Guy]

You didnt need a good chunk of money if you invest in 2020 , heck or in early 2023 to get fantastic returns. You need needed to not believe all the garbage from people who didn't know what they were talking about and just "Omg iTs A bIg PyrRamiD sChemE, YouR a sUckeR iF yoU inVesT in CryPto!!"

If you invested in early 2023:
Bitcoin you would have seen a 250% gain.
Ethereum you have have seen a 175% gain.

If you invested in 2020:
Bitcoin you would have seen a 1000% gain.
Ethereum you have seen a 2500% gain.

And those numbers will continue to go up over time.


This thread has been around since 2018. There were TONS of opportunities for people here to get in, but instead it was just people laughing at the idea of investing in it.

 

[TheDoldrums]

Just build a crypto treasury and chill. You'll get there. The internet is undefeated, the world won't stop printing money, number will go up in the long term.

 

[Evilo]

I invested a lot of money (for me, not a lot of everyone) in 2020. Took a little profit there at end of 2020 (roughly 25% of what I invested) because I needed it. After taxes and fees, I'm back now to even if I were to sell today.
25% over 4 years is fine.
Given the look of next few months, it's a great investment compared to banking your money.

I also didn't buy/sell all the time, even in rought times. I simply hodl through it all, convinced ETH (which is most of my portfolio) would rise back. I did change a part of my ETH for Solana (and a very small spart into XRP, stupid me) a few months ago, and it PAID off. Solana has 100% since.
If the next year unfolds as predictions go (and it never happens), I might just have a X3 or even X4 on my initial investment in 4-5 years. I don't think many sectors out there can claim the same. It's just about being patient and sure that crypto is a solid investment for the future.

 

[The Crypto Guy]

Bitcoin blasts through 60K!!!

Ethers blasts through 3350!

What a day to be crypto holder

 

[BreadManPanarin]

Cardano really bummed me out. Charles Hoskinson has dozens of hours of podcasts/talks where he's going in depth into the use-cases of his IP. Made it seem like he was building ADA with a purpose and that it would really go somewhere. I don't think he's a scammer by any means but it was disappointing to see it plummet instead of take off.

I was invested in ETH, ADA, and Algorand.

The only use case that matters imo is long term debasement-proof, censorship resistant money. Thus I only buy Bitcoin (and MSTR call options for leverage to the Bitcoin price). I strongly suggest not getting distracted by all of the many "use cases" that people come up with. They are all incredibly trivial compared to the hundreds of trillions of dollars of "store of wealth" assets in the world which are gradually getting converted over to Bitcoin over time. Especially now that Blackrock and Fidelity and other major financial institutions are actively selling Bitcoin to their clients. There's really no excuse at this point to view Bitcoin as anything other than a totally legitimate store of value asset that the entire world has access to, but that 99% of people have not taken a meaningful position in yet.

I'm not going to FUD ETH because it seems to be here to stay and I prefer to posture myself such that Crypto Guy and I are allies on here rather than opposition, but I honestly would avoid any other coins like the plague unless your intention is pure gambling and you intend to try to time the market and use other people as exit liquidity. In which case good luck but that isn't investing - that is gambling.

 

[BreadManPanarin]

Unless you have a good chunk of money sitting around to invest and you can afford to lose it, you're better off heading to the casino or horse race track than invest in crypto.

Let's put some perspective in what I mean. If you don't want to potentially screw yourself over, you're better off only investing in BTC/ETH. For me personally, I don't think my current lifestyle can allow me to put over 1k. Suppose I did that when BTC was 15k, that would give me around 0.066. Then let's assume that the price hits 100k, after paying the fees and taxes, I'll be lucky if my profit is 2k-3k. Keep in mind this is a speculative scenario, if I sold that kind of amount at today's price, I'll end up with maybe a few hundreds more than my initial investment.

It's not bad, but when you think about the tax implications, exchange fees, headache of moving money around from bank/exchange, etc. It's simply not worth it.

I think the error in your thinking here is that your holding period is far too short.

I'd say the correct holding period is at least 5-10 years, and ideally forever.

For Bitcoin, that is. If you're gonna dabble in s***coins then definitely your exit strategy should be much, much sooner if you really feel you must enter in the first place. Holding those forever = pure pain.

 

[McGarnagle]

 

[McGarnagle]

Coinbase crashed and caused a 5% dip. Probably a good braking mechanism though in the end.

 

[McGarnagle]

67.5 baby

 

[The Crypto Guy]

67.5 baby

Boom! 68k!

Closing in on an all time high! Congrats bitcoin holders!

 

[puck stoppa]

Boom! 68k!

Closing in on an all time high! Congrats bitcoin holders!

Been a while!
Congrats! I am only in on blockchain and qbtc but back in the day in the stock thread is where you guys convinced me to get in the game even though it’s not bitcoin.
Where do we go from here?

 

[VaporTrail]

Unbelievable...we are getting this precursor to the real bull run. Lots of factors contributing.....I got some MAGA and that thing is cranking ! You literally could about double your money every few days !

Also Shib was the first coin that got me into crypto back in 2021...I made a sizeable investment and then it tanked...It dropped about 90% over the last few years but I never sold...It's up over 100% the last 24 hours and I am close to getting my money back...Never though I'd see that....This is shaping up to be the gold rush of the century! Wow !!!!

 

[VaporTrail]

You didnt need a good chunk of money if you invest in 2020 , heck or in early 2023 to get fantastic returns. You need needed to not believe all the garbage from people who didn't know what they were talking about and just "Omg iTs A bIg PyrRamiD sChemE, YouR a sUckeR iF yoU inVesT in CryPto!!"

If you invested in early 2023:
Bitcoin you would have seen a 250% gain.
Ethereum you have have seen a 175% gain.

If you invested in 2020:
Bitcoin you would have seen a 1000% gain.
Ethereum you have seen a 2500% gain.

And those numbers will continue to go up over time.


This thread has been around since 2018. There were TONS of opportunities for people here to get in, but instead it was just people laughing at the idea of investing in it.

Yep I don't know how many people kept downplaying it...But I have mostly been DCAing the past few years and now it's finally starting to pay off

 

[Phion Keneuf]

Unbelievable...we are getting this precursor to the real bull run. Lots of factors contributing.....I got some MAGA and that thing is cranking ! You literally could about double your money every few days !

Also Shib was the first coin that got me into crypto back in 2021...I made a sizeable investment and then it tanked...It dropped about 90% over the last few years but I never sold...It's up over 100% the last 24 hours and I am close to getting my money back...Never thought I'd see that....This is shaping up to be the gold rush of the century! Wow !!!!

Love the Trump coin. I got in really early as well and holding that thing for the inevitable $100 per coin.

 

[The Crypto Guy]

Love the Trump coin. I got in really early as well and holding that thing for the inevitable $100 per coin.

Yawn

 

[VaporTrail]

Love the Trump coin. I got in really early as well and holding that thing for the inevitable $100 per coin.

Wow you think it will go that high ? I was thinking $20 per coin with a 1 billion $ MC and that's where I was gonna hope to exit.

 

[Phion Keneuf]

Wow you think it will go that high ? I was thinking $20 per coin with a 1 billion $ MC and that's where I was gonna hope to exit.

$100 brings it to $4.7B Market cap.

Right now it’s not listed on any major CEXs (they are working on it, and it will get listed), elections in November, only coin making donations to legit charities (over 200 Ethereum donated to US veterans & child trafficking prevention).

I think it’ll happen, but obviously take profits when you feel comfortable.

 

[McGarnagle]

We hit $69k

Nice

Pretty big pullback after the ATH though. But every time BTC has broken a previous ATH it's doubled within a month so the bull run is just beginning

 

[SuperScript29]

I think the error in your thinking here is that your holding period is far too short.

I'd say the correct holding period is at least 5-10 years, and ideally forever.

For Bitcoin, that is. If you're gonna dabble in s***coins then definitely your exit strategy should be much, much sooner if you really feel you must enter in the first place. Holding those forever = pure pain.

I'm not completely opposed to investing in cryptocurrency, but I don't think it should exceed 5%-10% of your overall investing portfolio. Also agreed, when I say cryptocurrency, I'm talking Bitcoin for most part and maybe Ethereum too. Most of the other shit is as good as a roulette table as far as I'm concerned, maybe exaggerated in some cases, but you get my point.

Yawn

If you're gonna gamble, you might as well gamble on what's hot. Just be sure to throw money you can afford to lose.

 

[McGarnagle]

I have nothing other than BTC and ETH and generally consider all of the other stuff to be a slot machine coin. I just saw that Dogecoin is up like 160% this month. Still a fundamentally flawed coin that I'm not getting back into. But what does everyone think of SHIB? Worth looking into or just more fad junk? It's like Doge but less faulty, right?

 

[The Crypto Guy]

We hit $69k

Nice

Pretty big pullback after the ATH though. But every time BTC has broken a previous ATH it's doubled within a month so the bull run is just beginning

That was quite a hefty pullback of people taking profits haha. Already moving back up.

 

[McGarnagle]

That was quite a hefty pullback of people taking profits haha. Already moving back up.

I missed the dip to 61 but added another $250 at 63.3.

 

[McGarnagle]

I'm not any kind of expert on fundamentals and trading bands or whatever, and there's a wide range of predictions from the super-bulls who think we're going to double from here or the bears like the European Union who are still trying to claim crypto is a pyramid scheme and going to zero. But at a very conservative estimate my guy is telling me that we're in a really good place and once it breaks the ATH and gets through 70k, I think it'll charge up towards 85 pretty quickly. And that's conservative.

 

[chicagoskycam]

Most coins pulling back today, although great movement overall the past few months. I think we will see another push soon.

 

[McGarnagle]

How much of the pullback do you think was from investors who set $69,420 as a stop point?