Wow. Bitcoin is almost $1,500

[Roger Wilco]

It's starting to feel like Ethereum is the new Jesuscoin. It's still going up, while Bitcoin has basically been flat over the past two months.

Yes, ETH is really surging while BTC has traded sideways. ETH just hit another all time high of $2,550 today.

The internet tells me that BTC is in a period of consolidation, setting the foundation for the next surge.

 

[ultimatebob]

I feel sorry for them.

At least, a little bit, long-term. I don't see Doge as a long-term coin. Maybe I'm wrong?

It seems to fit the "rules" of 2021 investing, though. The dumber the investment, the better the returns! Why invest in Microsoft or Apple, when you can invest in Gamestop or Dogecoin and get triple your money in a week? 🙂

 

[Train]

Today's $2k dip happened immediately after my weekly buy. You're welcome, everyone.

I usually do my DCA purchase on Wednesdays, but forgot what day it was.

 

[Roger Wilco]

Woah just dipped below 50k on Coinbase.

 

[ultimatebob]

Woah just dipped below 50k on Coinbase.

Dogecoin went down 25% as well. Very not wow.

I wonder if this has anything to do with Papa Joe's plan to increase the capital gains rate. Those folks who made a lot of money holding Bitcoin from 10K to 50K might want to sell some before they have to worry about a big tax bill.

Did you buy in yet, Ponyo?

 

[FelixDeCat]

Bitcoin appears to be rushing towards $49,000 range again, which is surprising.

$49,000 retested. Options expiration around the corner. My guess is the $50s hold, if not, I have read people predicting a trip back to the mid $40s.

Thanks, Joe & Kamala.

Bitcoin suffers biggest weekly loss since March 2020

Friday's losses come on the heels of a 300-point loss for the Dow industrials after a media report that President Joe Biden is weighing a plan to nearly...

www.marketwatch.com

 

[ponyo]

Dogecoin went down 25% as well. Very not wow.

I wonder if this has anything to do with Papa Joe's plan to increase the capital gains rate. Those folks who made a lot of money holding Bitcoin from 10K to 50K might want to sell some before they have to worry about a big tax bill.

Did you buy in yet, Ponyo?

Yes. Finally bought some. Dipped my toes in this morning with small purchase of Bitcoin. Also bought more shares of Coinbase this morning as well.

 

[ultimatebob]

Yeah, it's kinda sad... Ethereum did so much better than Bitcoin over the past few weeks that my 50% Bitcoin and 30% Ethereum split in my Coinbase account is now an even 40% Bitcoin 40% Ethereum spilt.

 

[Fritzo]

Yes. Finally bought some. Dipped my toes in this morning with small purchase of Bitcoin. Also bought more shares of Coinbase this morning as well.

If you want some advice- Bitcoin is terrible for small purchases as it's so large. Any major changes are going to result in tiny profits/losses. Maybe consider something that's very cheap right now that can get a lot of shares. ADA, XTZ, TRON, and XLM are good choices. ADA for example was stable around $1.40 and it's trading around $1 right now.

 

[ultimatebob]

If you want some advice- Bitcoin is terrible for small purchases as it's so large. Any major changes are going to result in tiny profits/losses. Maybe consider something that's very cheap right now that can get a lot of shares. ADA, XTZ, TRON, and XLM are good choices. ADA for example was stable around $1.40 and it's trading around $1 right now.

I don't think that Ponyo's idea of a "small" purchase matches what you think it is 🙂

 

[MrSquished]

Any point in throwing a few hundred bucks at Dogecoin just to hold it long-term? I just started reading about it, I know it was started as a joke, there is also unlimited dogecoin, so not a finite supply. Is it all really just a gag?

 

[Roger Wilco]

BTC market dominance is now falling below 50%. I don't see this as a bearish sign for Bitcoin though—it just seems like younger coins are further establishing their own (hopefully sustainable and mutually beneficial) niches within crypto.

ETH looks stronger than ever right now, but I don't know if any token will match granddaddy BTC...ever.

 

[Roger Wilco]

$3.6 billion of BTC options are expiring today. Could that be the reason for the rally right now?

 

[Fritzo]

$3.6 billion of BTC options are expiring today. Could that be the reason for the rally right now?

Don't care---after last week's crash I'll take it 😀 My portfolio is close to recovered already.

BTW- I can't recommend $ADA and and $XTZ enough if you want some boosters. Lots of momentum in those two.

 

[Roger Wilco]

Don't care---after last week's crash I'll take it 😀 My portfolio is close to recovered already.

BTW- I can't recommend $ADA and and $XTZ enough if you want some boosters. Lots of momentum in those two.

I did just buy a bunch of ADA recently, and I'll probably keep buying more. I haven't done much research on XTZ though.

 

[ultimatebob]

Bitcoin has been a meh investment lately. It's been in a $50,000 to $60,000 trading range for what... almost 3 months? ETH is where it's at right now.

 

[ponyo]

I bought Ether and Cardano during last week's crash as well. I just didn't mention it. I'm still trying to figure out the ratio I want. Right now, I'm thinking Bitcoin 60%, Ethereum 30%, Cardano 10%. Or I might do 50% bitcoin, 40% ETH, and 10% ADA. Those are the three coins I targeted.

I'm becoming bigger crypto believer by the day. I've been buying Coinbase stock and options heavily. Coinbase is now my second largest position behind Tesla.

 

[Icecold]

I bought Ether and Cardano during last week's crash as well. I just didn't mention it. I'm still trying to figure out the ratio I want. Right now, I'm thinking Bitcoin 60%, Ethereum 30%, Cardano 10%. Or I might do 50% bitcoin, 40% ETH, and 10% ADA. Those are the three coins I targeted.

I'm becoming bigger crypto believer by the day. I've been buying Coinbase stock and options heavily. Coinbase is now my second largest position behind Tesla.

Have you looked into staking your Eth? It requires converting it to Eth 2, which takes away any liquidity until Eth 2 is live(probably later this year or early next year, possibly longer) but you earn 6-8% on it in addition to whatever appreciation happens to the price of eth. There are some options on staking, if you do the staking yourself it requires having a lot of eth, and running a validator node, which currently is earning 8%, but Coinbase will do all of it for you, has no minimum staking amount AFAIK and is paying 6%. The main risks are spelled out on Coinbase when you do it, but the main ones are eth 2 could never come to fruition and then your money is in limbo/lost forever(seems very unlikely), you can lose some eth if the validator responsibilities aren't met(covered by Coinbase if it happens), and that your money is tied up for an unknown amount of time(no issue if you're planning on buying and holding for a long term). I just staked a small amount, and their interface for showing your staking rewards is pretty cool - it's always showing a counter and showing the estimated earnings in realtime. I don't think the earnings are actually paid until eth2 is live though, it just shows what they will be.

 

[njdevilsfan87]

Finally got around to recovering what became nearly $300K worth of crypto on Bittrex thanks to the Dogecoin insanity. I think I posted saying I'd do it if it reached this amount (back when it was worth like $50-60K not too long ago). It's ironic that what I originally thought was like $10-$20K worth of lost crypto back into 2017 became such a huge gain. And because those have been sitting there for years... long-term gains! Now I just need to figure out the password to the wallet I have 10 BTC stuck in (stuck since July 2017). I finally found the last GPU I need to have two machines brute forcing 50,000 pw/sec so that's going to be up and running soon draining all of my solar energy.

It feels like I was just airdropped $200K for free ($300K - $100K in taxes from converting Dogecoin back to Bitcoin: stupid but taxable under US rules). I'm putting $100K of that into my new business venture, and the rest can just stay in BTC.

 

[repoman0]

Finally got around to recovering what became nearly $300K worth of crypto on Bittrex thanks to the Dogecoin insanity. I think I posted saying I'd do it if it reached this amount (back when it was worth like $50-60K not too long ago). It's ironic that what I originally thought was like $10-$20K worth of lost crypto back into 2017 became such a huge gain. And because those have been sitting there for years... long-term gains! Now I just need to figure out the password to the wallet I have 10 BTC stuck in (stuck since July 2017). I finally found the last GPU I need to have two machines brute forcing 50,000 pw/sec so that's going to be up and running soon draining all of my solar energy.

It feels like I was just airdropped $200K for free ($300K - $100K in taxes from converting Dogecoin back to Bitcoin: stupid but taxable under US rules). I'm putting $100K of that into my new business venture, and the rest can just stay in BTC.

Sure hope you didn’t use too many characters in that password or those machines could be brute forcing for a thousand years.

I have access to a top 50 supercomputer ... 50:50 split? Lol.

 

[Roger Wilco]

Was not expecting to get this close to a 3k Ether this soon...pretty wild.

 

[Fritzo]

Was not expecting to get this close to a 3k Ether this soon...pretty wild.

Holy crap...it's almost doubled in price in the last 30 days. I'm at 97% profit...never saw that coming. This is why diversification works 🙂

Etherium Classic (ETC) is my biggest performer- bought in at $12 last month and it's hovering close to $60 now.

Still believe ADA and XTZ are the next boomers. ADA is going to be used by African and south European banks in the coming weeks + Africa got some kind of ADA commerce deal going on. Could see it doubling or tripling in price this year.

 

[Roger Wilco]

Holy crap...it's almost doubled in price in the last 30 days. I'm at 97% profit...never saw that coming. This is why diversification works 🙂

Etherium Classic (ETC) is my biggest performer- bought in at $12 last month and it's hovering close to $60 now.

Still believe ADA and XTZ are the next boomers. ADA is going to be used by African and south European banks in the coming weeks + Africa got some kind of ADA commerce deal going on. Could see it doubling or tripling in price this year.

Sounds intriguing, I'll have to look more into it. What do you think about LINK?

 

[Fritzo]

Sounds intriguing, I'll have to look more into it. What do you think about LINK?

I don't currently have any LINK but I'll read up on it.

 

[s0me0nesmind1]

Anyone here playing the Dogecoin game?

It's pretty much vegas gambling I presume, but I figure there are ways to strategize it.

E.g. What do you think will happen if/when Elon Musk mentions Dogecoin on his SNL this Saturday?