Cryptocurrency market trends I

[المهندس]

Inshallah I will do that. My goal is to use cryptocurrency to take my passive income and increase it slightly

once you understand everything you can easily make 2k a month swing trading

 

[jabsveg276]

once you understand everything you can easily make 2k a month swing trading

what if I wanted to use it like a bank? Like I toss $10k in a cryptocurrency that’ll go up, then if my investment doubles, I take out the original $10k so I don’t lose money?

 

[المهندس]

what if I wanted to use it like a bank? Like I toss $10k in a cryptocurrency that’ll go up, then if my investment doubles, I take out the original $10k so I don’t lose money?

Yeah all exchanges allow you to swap your crypto gains to actual physical money (fiat) you will need to submit your bank account details to that exchange

They will want your identification for you to swap crypto to real money (fiat) this is known as KYC, they do this to avoid hassle from tax agencies.

Also more crypto money you convert to cash more tax you will be liable unless you live in tax free country

 

[Craftman10]

Crypto Pprices are going down, I think it is the right time to invest .

 

[Inquisitive_]

Stop losses is not really effective for crypto since its so volatile and i don't think it can be executed on certain DEX's compared to a normal exchange such as binance unless you are using certain tools.

Plus i swing trade/hold stop losses are more for day traders

My FOMO kicks in when i have 5-10x of a shitcoin i hold hoping for more gains which is bad habit

Why don't you dollar cost average out and take out your initial investment after a 2x ? Then continue to take 10% profit.

That way you never loose out and can leave a % of profit to ride the wave incase it goes higher.

It's proven that dollar cost averaging both directions makes investors the most money overtime as opposed to going all in or out.

It's what large hedge funds and banks do, they build their positions overtime and do the same with profits.

 

[kickz]

Looks like we could see Bitcoin shakedown to 28k level by whales, before new highs

 

[Apollo]

Looks like we could see Bitcoin shakedown to 28k level by whales, before new highs

28K is a bit too low. I think the lowest it will go is the 200 day EMA. Currently at about 38-40K.

 

[Kant123]

28K is a bit too low. I think the lowest it will go is the 200 day EMA. Currently at about 38-40K.

Will it go past its ATH though by this year??

 

[Apollo]

Will it go past its ATH though by this year??

Nobody knows, but I am leaning towards that it does.

 

[Nak-Muay-Kru]

Did any of you sell off shitcoins in anticipation of the BTC 9/11? Didn't know being bearish could feel this good. Swingies don't get the rope after all looooool

 

[Apollo]

Did any of you sell off shitcoins in anticipation of the BTC 9/11? Didn't know being bearish could feel this good. Swingies don't get the rope after all looooool
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Luckily I fomo'd into Ethereum based DeFi (like Matic, Aave) before the dump and it only retraced towards where I bought in.

Ethereum based DeFi is looking strong.

It is mainly BTC and shitcoins that are dumping hard at the moment.

Toxic bitcoin maximalists caused this dump. They were all arrogant and toxic towards the second richest man in the world. Look at the comments on Elon Musk's tweets.

 

[kickz]

28K is a bit too low. I think the lowest it will go is the 200 day EMA. Currently at about 38-40K.

We shall see, this will be a good chance fill up the Tether holdings to capture a few BTCs later.

 

[Apollo]

We shall see, this will be a good chance fill up the Tether holdings to capture a few BTCs later.

I lost so much respect for Elon Musk.

I used to think he was a 200 IQ giga genius, but his behavior as of late.. His obsession with Doge is unexplainable.

 

[Nak-Muay-Kru]

Luckily I fomo'd into Ethereum based DeFi (like Aave) before the dump and it only retraced towards where I bought in.

Ethereum based DeFi is looking strong.

It is mainly BTC and shitcoins that are dumping hard at the moment.

Toxic bitcoin maximalists caused this dump. They were all arrogant and toxic towards the second richest man in the world. Look at the comments on Elon Musk's tweets.

I've made a habit of selling and then buying the colossal dips soon as BTC starts looking a little shaky, it hasn't failed me yet alhamdulillah. The only ETH defi I held was uniswap and I sold that to bet on Trumf

I see their point to some extent, the "I'm a relatable autistic SPED who shitposts and goes ball-deep on crypto" shtick is getting tiresome.

 

[kickz]

I lost so much respect for Elon Musk.

I used to think he was a 200 IQ giga genius, but his behavior as of late.. His obsession with Doge is unexplainable.

He has always been kinda off, like denying existence of Rona, but his image is taking an even bigger hit now that he is hurting retail investors' pockets with these Tweets.

 

[Apollo]

I am thinking of shorting Tesla on FTX.

It looks like it will break down soon, unable to hold 550. Overvalued crap company.

 

[trucel]

Lovely dip , time to buy

 

[butANumba]

If you're going to FOMO into some meme sh*** coin set a stop-loss and keep moving it up as it pumps up, that way if the house of card comes crashing down, you're out with a good profit, and if it pumps further, you're still in the trade and able to move it up further to protect yourself.

That depends on the type of returns your looking for, if your happy with 2-5x low risk stick to the top 10 avoiding BTC/ETH, your best bets are ADA, DOT, VET, if I was in your shoes, I would go with ADA, it has the biggest upside.

If however you want to chase 10-100x, which involves higher risks you need to invest in the upcoming DEX's/DFIs/NFTS in the Polka/Solano/Cardano/AVAX ecosystems or any other popular blockchain, the projects in those ecosystems will pump much harder than that blockchain itself.

Thank you you're the real mvp

 

[Apollo]

 

[digaagjecel]

Mashallah market back up today. @Dawo xrp gonna look nice in a couple of weeks huh.