Professional trader here. Made over 500k in crypto. High was 500k and started with some small investments in Ethereum in 2017(50k by summer all of my own money.) Some points to be made about this market.
1. It's built like a ponzi scheme with no cash flow. Stop comparing market caps on these coins because it's not an accurate measure. None of these coins have much a value since there is no baseline value in the utility these tokens can achieve. 2. Because it's built like a ponzi it rewards OG's and constantly is looking for the next fool to put money in the system. Proof? Go on twitter and follow "OG's" and see what the majority were saying in late fall and early winter prior to the crash. "Hodl" "buy the dip!!" It's ignorant to think that the OG's werent dumping on you because they were...they've been through the crash of 14 before. 3. Hodl is a meme. Hodling is for poor people. The most speculative asset on the planet is crypto...and you want to just "hodl" it? How pathetic is that. Buy it. Sell it to some sucker for more than you bought it for and keep on doing this over and over. 4. I'm not anti-bitcoin but I'm not going to pretend i'm a Boomer constructing shitcoin portfolios. Unless you absolutely need BTC as uncensorable money most don't need to use it. 5. Silicon valley is cancer in this ecosystem. If you read the rherotic they are pushing. They want to own considerable supply of coins and tokens in networks. Adam Draper is a prime example of the cancer of the system. Go listen to his talks and you'll hear what kind of lunacy is in the system. I will say it was great in 2017 because the wealth distribution came from SV and ended up in my pocket. In 2018 more money has gone into ico's than 2017 and prices remain under fire? Something big could happen in q4 if all of the hedge funds and SV cancer decide to get out at once when it hits them it's all just a ponzi.
I have some recommendations for those of you on this board.
1. Stop investing in altcoins. Or at least limit them to the top 10. The difference between 2017 and 2018 was that everything went up in 2017 so you could go to the 100th CMC coin and buy it and make money on it. This year...good luck.
2. Btc still has great upside potential. When its below cost of production for a few weeks that might be a signal to buy. That or "blood in the streets" and equivalent Black Monday in crypto.
3. Learn to trade if you want to be in the game. Go read Reminiscences of a Stock Operator. It's the ONLY trading book you need to read.
4. Learn fundamental analysis of bitcoin supply and demand. Hint: it's really easy.
Isaac Long
Do you think there will be another bull run?
Samuel Perry
He lost most of it but doesnt want to say. Like most of these trading faggots they don't want to admit they're 90% down from high.
Nicholas Rivera
either a larp or a boomer regardless he doesn't understand these markets as much as he thinks he does
Luis Johnson
There will.
Isaiah Wright
Yes. There is boom to bust cycles in most commodities. What makes bitcoin unique is that current and future supply is known. Demand is the question. I would believe that north of 20k you need an ETF to take us there. North of 100k you need banks holding btc as reserve. My investment thesis since i got into crypto is that it's either going to zero or it's going to +200k. It's the best risk/reward profile we'll every see in our lives.
30 y/o boomer
Benjamin White
we have 10+ years to see if it'll go to 0 a lot can happen in this amount of time
Jaxson Sullivan
the block reward is basically life support for the network to get it off the ground as we ween that subsidy away the network needs to grow and pick up the slack the "horrible" fees last December wern't all bad because it showed the network can become self sufficient but we need to develop efficiencies that combined and consolidate transactions keeping individual fees low while also keeping the network self sufficient and decentralized this needs to play out over the next 10 years for bitcoin to succeed as the global currency
Alexander Martin
I can agree to that.
The thing biz needs to understand is having rational expectations on expected price appreciation. How biz should structure longer term bets is what is the price that would yield me 2-5x and is that expecation rational? Maybe you should lower your targets and trade price breakouts instead?
E.g. price 7k. Need 14k to double your money. This year we have 8500, 10k, and 12k to break through as significant levels to get to double your money. It's better off to trade the price action to the upside when we get to those levels. Sure you won't make double your money but those levels are more rational to trade on or add longs to than blowing your load at these prices hoping for a double.
Hang in there biz. We're all going to make it(except those stinky linkies.)
Goodnight
Andrew Robinson
"professional" made 500k LOLOLLOLOLOLOL
Isaac Diaz
Invested 50k before the bullrun and only made 500k......
Dylan Kelly
professional cock sucking faggot detected >tell those who HODL BTC from $10 that it's a meme you silly faggot who entered market in 2018
kids not wrong tho, next parabolic run before the next halving 2020 also expecting the etf to land eoy 2019, market cap won’t go much below the 200b though during this crash (but btc will continue eating alts during bear)
Just a boom bust cycle lads, guaranteed at least one more runup with the etf
Josiah Walker
maybe once it's "official" and banks and ETFs and all that are in we will see volatility lowered this combined with the mining reward halving schedule
Tyler Roberts
>Professional trader here. Made over 500k in crypto. Stopped reading. You should have made over a million you stupid faggot
Robert Rogers
Speculation != ponzi, so fucking tired of boomers calling it this. A ponzi scheme pays dividends to old investors with new investor money. Bitcoin has no dividends (forks don't count, they are sporadic and clearly have diminishing returns) so it's just plain old speculation. It's not a scam or a scheme, just speculation...
Charles Sanchez
I don’t see banks ever on side with bitcoin; won’t matter though we’ll still get the etf, too much greed and money to be made. Remember to sell the news next time
Ian Reed
>Learn fundamental analysis of bitcoin supply and demand. Hint: it's really easy Teach us that here
Joshua Williams
I made $5 mil now down to 3 from the same as you. WTF you doing, obv something not right. Would have been 1 mil more if i didnt fuck around with margin too
