Cryptos: time to get the hell out?

BTW, SafeMoon is Portnoy’s choice:

The shit is hitting the fan

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The original question appeared on May 18 18:43. I guess the answer was: YES :joy:

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Which is has done before in 2013 and 2017: see here

People are always searching for explanations when BTC rises, and when BTC falls. I think it’s just speculation from the media, searching for “reasons”.

On a side note: -33% for ETH, -33% for XRP, -21.6% for BTC. Holy smokes!

Personally, I’d say that some big fish are dumping the stuff right now. And don’t fool yourself thinking that investment banks are not involved in this whole topic as well. So I guess it’s up to everyone to decide if this is a chance to “buy the dip” (if you believe in the long-term future of BTC/ETH/whateverStableCoin) or the whole crypto bubble imploding.

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In the past it took many months to reach the bottom. Of course, we could see a V-shape recovery, it’s anyone’s guess. Personally, I think the panic will go on, and the good moment to buy again is going to be in a few months.

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No one knows how this is going to turn out. I had a small order for XRP at 1.02$ which I cancelled today before noon. XRP went down to 0.85$, only to recover to 1.18$ already (right now). It’s fucking insane.

Regarding “good moment”: I’m sorry, but I simply can’t find my crystal ball anymore :joy:
The good moment would have been last year in March, or somewhen end of 2018 / in 2019. Or even better in 2012 :wink:

The exchanges are the only place, when there is a crash everybody is freaking out. But today was like Black Friday for crypto. You could buy KSM for 160 (now 365) and other coins. Bought some red candles, have some SL at break even in place and you should be in profit 20%.

Kraken is pretty much down, no way to panic buy or sell…

Also Swissquote, as a friend is trying to buy BTC but everything is frozen…
Binance worked fine for Spot and SL.

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Are you using the Kraken Pro mobile app? Works fine for me for buying whole day, no problems there

Only the web interface. https://status.kraken.com/

I am just sad I need to wait 10 more days to get my salary and btfd :pensive: I almost took a third loan today to gain leverage, but I need to be patient :joy:

Edit: I just want to take this opportunity to state that, no matter what you do or think, no matter all the FUD and crazyness that is happening, bitcoin does not care, every 10min a new block is created. This is truly mind blowing :exploding_head:

When I‘m in full agreement with Bojack regarding an individual investment…

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I allowed myself to modify the name of the thread, to make it more clear what it’s about. Also, to my knowledge, the word “hell” is not vulgar and does not need censorship :slight_smile:

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Perhaps even a few years, if you look at past crypto booms. Basically, when it becomes again a dull thing that nobody is discussing about (including in this forum :wink:).

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The last two times it took a little over a year to reach the bottom.

And the price dropped 5x from the top. So I’d say if BTC drops to 15k, it will be interesting to consider buying some. But it can’t be that easy, can it? The last crash was quite similar to the previous, if this one follows the same pattern, it will be funny.

a) might come earlier as you think (probably not 15k, but 21k)
b) will be tricky to get the right timing this time.

Sorry to say, but both answers are absolutely pointless. Bojack guesses 15k, you are saying 21k.
I could also be much less, it could be more. This is all a guessing game, and as I said before: nobody of us owns a working crystal ball.

Regarding point b): I don’t see how this is different than the last time. If you would have bought BTC/stablecoins during 2018/2019/early to mid 2020, your timing would have been “right”. Timing would have been even better if you bought before 2017 or before 2015.

You were lucky with your gut feeling last time to change from stocks to cryptos, but that’s the thing: do you think there was knowledge involved? Also, stock market is at an all-time high today, even though you made more with cryptos.

Don’t get me wrong: I’m happy it worked out for you, but it could have also gone completely wrong.

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FYI:

I see this as talking about good entry points. In the past corrections it never got even near the previous peek, so unlikely to hit 15k IMO as there is indeed more and more institutional interest that will be picking up as it goes down for long term.

I put a small but still significative amount for me one year ago, as I was seeing an uptrend starting to form after the bottom, and I assure you it was not an super easy decision. Looking at it now, of course I should have gone all in :slight_smile:

Catchin the botton, (almost) no one does. Just make sure you don’t try to catch falling knifes. There is no hurry!

Good luck everyone

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