[Daily Discussion] – Wednesday, June 15, 2022

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[Daily Discussion] - Wednesday, June 15, 2022

39 thoughts on “[Daily Discussion] – Wednesday, June 15, 2022”

  1. I am thinking that we can’t really move up from this level until the 3AC bandaid is completely removed?

  2. 5 min scam wick on bitmex to 23k* would’ve cleared out a whole lot of high leverage shorts.

  3. Another woodworker chiming in here, nice to see some old faces returning.

    ​

    I was ridiculed when I suggested that whilst the halving cycle theory has merit, anybody making a law based on only two data points is a fool. “This time is different”, they said sarcastically. This time really was; hindsight is 20/20.

    Whilst it’s obvious that the macro environment is different now and will present some new twists, the fundamentals are stronger than ever. I’m reallocating some of the profits I took at 60k. This is the first time I’m buying since the covid crash at ~$3k.

    ​

    For those new to the space and haven’t endured a crypto winter yet, welcome. After abstracting Bitcoin and trying to juice it by selling you Bitcoin™, many influencers and projects will disappear. Many models that seem reliable now will be broken, and with them many spirits too.

    But the underlying network protocol remains unphased.
    Undeterred by macroeconomics or geopolitics, it works relentlessly. Revolutionising finance indefinitely. One block at a time.

  4. I’m technically still in profit. Bought between 3k and 11k. Still, I haven’t felt my anus clenched this tight since march of 2020.

  5. If you have some spare cash, it’s time to set some stink bids. This could dive to ridiculously low prices in the next days, march 2020 style.

  6. Bear’s biggest weapon hasn’t unleashed yet. By the way, when Jpow is going to announce the interest rise, I think we return to 4 figures instantly if he surprise us with a 100 basis rise.

  7. Pro tip: Don’t let short term pain change long term decisions. If you have a plan, STICK TO IT. My plan is to hodl long term. Nothing has changed about BTC.

  8. Fool me once, shame on you; fool me twice, shame on me.
    Next lame ATH should be followed by a 90% drop.

  9. The Despair is palpable today – all aboard the Bitcoin Bear Coaster!

    All-in-all, market conditions aren’t looking great, but the fear gripping the market will dissipate sooner or later. I’m still a buyer at these levels, and have laddered orders further down. May need to sit on these positions for a while, but with RSI being so oversold on the weekly, there will be a relief bounce in the coming days.

  10. bounce, retest 20k break through, then all hell breaks loose. 3ac and celcius will be gone for good, liquidation candle and then ‘return to normal’. stink bids not even needed.

  11. Did any of the “dont sell bitcoin, just take a loan on it” crowd survive the last couple of days?

  12. People trashing out cefi defi or any sort of yield don’t realise without these yields bitcoin and crypto in general loses a huge portion of investors. So yeah keep trashing and wishing people to lose their money and we’ll see how your bitcoin will perform.

    Also realise for every crypto person that says everything apart from bitcoin is a scam there are a thousand non-crypto people that claim bitcoin itself is the scam.

  13. Screw it, I bought back in here instead of waiting for my <$20k entry. We’ll probably bounce hard off $20k on the way down just like we did on the way up. Everyone is super bearish now with the elevator down and rate hike later today. Market is primed for a good bounce to take advantage of bottom shorters.

  14. What if this entire dump had nothing to do with the macro, shitcoiners, loans, or any of that? What if it was just the neccessary retest of the previous ATH that we never got on the way up the first time?

    /tinfoilhat

  15. u/Cost-Ready now leads the “Guess the Low” contest with a guess of $20,001.00. 17 out of the original 64 are still in it.

    The bottom two guesses are $12,423.00 and $1.00. If the low is exactly $6,212.00 I will award both u/senond and u/stopshadowbanningme4 the 0.00125 BTC prize.

  16. If literally anyone can explain why we’re not just on a path to $200 or less I’d love to hear it.

  17. Coinmetrics says June 13th saw the highest daily adjusted transfer value on chain (in BTC units) since a day in the Gox month (Feb 2014).

  18. Between 12 Dec 2019 and 1 Jan 2020 I sold 1/3 of my total BTC holdings. It felt like the safe thing to do at $7.2 K. This time around I moved a good portion off exchanges so I don’t succumb to the same temptation. Sure, I could move it back, but that takes time and many steps.

  19. I keep seeing comments like
    >”Bitcoin has never fallen below a previous cycles ATH, therefore it either finds support at 20k or we are done for and it’s going to 1k.”

    I really don’t get this at all. We absolutely have fallen below a previous ATH before. The 2018 bottom being 3x the 2014 ATH is the exception here.

    Also, the Fed actually raised rates during 2017 and we had the biggest crypto bullmarket in history. Of course, the economy was doing fine back then and we didn’t have record inflation. Still, this is the best cope I can come up with right now.

    https://i.imgur.com/lELYGFi.png

    https://www.tradingview.com/chart/BTCUSD/FGswv63w-Copium-Macro-Economics-Edition/

    What do you think?

  20. Monkey jpgs a still worth 100k, and Shibu Inu has a $5 billion market cap, the bubble is not over guys until that rubbish goes to near 0

  21. Per the 4 year cycle, Bitcoin is right on time, and there’s likely more pain to follow.

    https://www.tradingview.com/x/ZC5B5ncR/

  22. been using a vocabulary app which gives one random word a day. Seems appropriate today

  23. Love to see the FED pushing the US economy into a recession by going full throttle on interest rate hikes. I mean that’s one way to beat inflation at the expense of every single low-income earner who is more likely to be affected by higher interest rates and a recession.

    If only they had done their job earlier and gradual increased interest rates well before they had started. Not wait till the horse has bolted from the stable and then nailed/padlock and weld the door shut. SMH.

    Good thing I can buy even more BTC for the long term at these prices. More BTC for my money.

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