How deep will it go?


These are such exciting times and are truly the times people can become wealthy.

at this point it might as well go to the bottom. i changed my new money today to just go into a money market account. hopefully i can hang onto some cash and move it back into the market in about five years if this ends by then.

The answer is here

https://www.triviagenius.com/what-is-the-fibonacci-sequence/XtY_ghx5DQAG1g__

I have been playing with the ethereum dips the last month.. last week i sold on a high and made a couple hundred from the 3 days and got frustrated from it not letting me jump right back in at that time. So i pulled my money and was gonna wait a week to play again.... I am glad I didnt jump back in at 1500. Looking like the prediction is a 600 bottom out then slow climb back to ?? I'm kicking back now and will wait until I can try to catch the bottom and throw a couple thousand in the pot.

I think I am going to buy Eth again @ around $600 if it gets there.

I sold on the way down about 7 months ago. Just have some start ups and penny stuff now. Waiting for the dip to hit bottom to try and hit another grand slam

So glad I got mostly out of the conventional market in late 2019.

I don't think ETH breaks $1000..... With their move from Proof of Work to Proof of Stake happening in August (for now) - it has significant traction among institutional & retail. I'd like to see the "prediction" article mentioning $600 to understand their analysis. Lastly, if you follow the Elliot Wave theory, Mid-Low $20's were called for BTC from various sources with really good track records. That has happened and now its on to the rising waves. I've been in the market since 2015 and this same scenario has happened 4-5 times, it sucks every time but new highs always follow. The last one was right before covid - in April/May of 2020 it dropped to $6K and fortunately, I had enough dry powder to stack Satoshis. I don't have any now & man I wish I did, I'd be loading up.

BTC is not going anywhere and if you look at the investors from 2015 compared to now, its night and day from a retail to institutional perspective. Today instutions hold aprox 8% of all BTC vs less than 1% in 2015. The big money moving a portion of their portfolio from gold or risk stocks into BTC/ETH/ADA speaks volumes. And just wait until an ETF is finally approved - That is the BIG key to many institutions finally able to hold it. Today they can't due to their governance rules but once a BTC ETF is allowed, tidal waves of $$ pour in. A BTC ETF is inevitable, already approved on the Canada stock exchange and the CBT. Once there's one on the NYSE..... domino's start to fall.

I'll ride this one out like the others, just no big purchases for awhile.

Can you translate into hillbilly for me and others on this forum?

Ha...

Last Bitcoin run up to almost $70K was mainly retail - i.e..individuals. Only 8% of BTC holdings are via institutions as of today.

The tidal waves of cash itching to get in are waiting for an ETF (Exchange Traded Fund) because the hundreds of billions they manage for pension funds, balance sheets etc... won't allow them to purchase BTC on the open market. Simple version but there's a chit-ton of money desperately wanting to put a small allocation of their holdings into BTC-ETH etc... Hedging against traditional stocks, precious metals, FIAT ..

Here's another fascinating thought I heard recently. Paraphrasing but there are 52 Million people in the world that are millionaires. Even if they only had 1 Bitcoin each, it couldn't be done as there are only 21 Million BTC ever. And there is lots of hoarding of BTC right now & getting an entire 1 BTC yourself will only get more expensive as time goes on... (it sounded better when I heard it but u should get the jist)

No prediction article, just my own prediction based on keeping up with the markets. Maybe it's a little hopeful, but it could happen.

I agree 100% on BTC, it's so intertwined in the conventional market now it will never go anywhere. I first developed an interest in the crypto space in 2012-'13, but did not invest until 2015. It's been a fun ride so far and a few WTF moments as well!

I hear you...Caveat to the $600 - the looming rate hike may shake up the markets even more later this week so anything's possible.

ethereum and what pacertom mentioned....is why i really think crypto doesnt have as much substance as it does faith when it comes to its value. I put money in ethereum partly due to what they were doing....and I was reading that BitCoin uses lots of energy and that will likely be part of its downfall. But ethereum is getting in front of that...and very recently have done things that should positively affect its value.....but its tanking WORSE than bitcoin.

Im glad I got out when i did and didnt lose a big percent of my investment like ive been reading lots have. Read something that said anyone thats bought crypto in the last 2 years is upside down at this point.

930 just now 😬

It will be $3500-4500 by mid Q4 2022

You can likely short it this next week and do well with some volume

Bouncing off the lows pretty hard. I would NOT short anything here but that's just me.