[Daily Discussion] – Wednesday, November 09, 2022

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[Daily Discussion] - Wednesday, November 09, 2022

35 thoughts on “[Daily Discussion] – Wednesday, November 09, 2022”

  1. BTC is -73% from a year ago.

    That doesn’t even take into account the -50%+ it did in the wake of the hypecycle peak almost 18 months ago.

    Either we are near the bottom of this Crypto Winter (though it might be protracted like 2015), or this Winter is going to take the mantle from 2015 as worst ever.

    Already worst overall cycle ever – but worst Winter, too?

    Definitely possible, and I’m not holding my breath.

  2. I know it was mentioned in the daily yesterday but it’s curious to see bitcoin at it’s cycle low again but almost every alt still up a pretty good amount. Just the few I track are still 50-100% up from where they were in June. Idk what to make of it.

  3. If you wanted to turn 5k into 1 btc, would it make more sense to long here at lowest leverage possible? Or to stagger stages of lower amount at higher leverage?

    For example 1.4k at 13x is 1 BTC with a liq point at 17k

    Then add another 1.4k at 12x at 17k with a liq point at 15.6k… etc etc

  4. Lol I remember vaguely people were taunting the 17k predictions around here. Funny how bitcoin always finds a way to fuck over all of us

  5. Hi all,

    I have attempted to extend darobstas parabolic long-term trend lines which held true (more or less) from Nov 2018 until now. Lets see how it plays out.

    Happy Trading

  6. The good news is I’ve just been granted level 2 verification on FTX this morning which has increased my withdrawal limit.

    Bad news is they’ve paused withdrawals, so there isn’t really any good news.

  7. This reminds me of that coinbase whale bear that sold 30k BTC or what was it at 300$ or something like that and that wall just go gobbled up. I mean look at Bitstamps BTCUSD, the orderbook depth is getting bigger 🤣 I wouldn’t be surprised if we have a rocket launch as soon as who ever is getting recked is done getting recked.

    EDIT: yeah that was it, 30k at 300$: https://www.google.com/amp/s/www.cnbc.com/amp/2014/10/09/bitcoins-bearwhale-and-the-future-of-a-cryptocurrency.html

  8. a full year of bear market with lower lows. we posted ATH on 10 Nov 2021 just to come down to this. practically no bounces. of course we can go lower, but shorting here looks like financial suicide.

  9. Remember people, the folks dumping coins right now are counting on us to look after them until they want to buy them back at the next top.

    Don’t shirk your responsibility, buy the cheap coins…take care of them and when the time comes, these very same people will be there at the next top to buy them back.

  10. I’ve inverted the colours on my monitor and rotated it 180 degrees. Things look much better now.

  11. Crazy that all of this is before CZ announces their deal is kiboshed. We haven’t seen anything yet.

    The people longing right now must be desperate to part with their money.

  12. This is your daily reminder that the current lower low is $17,250, 1.82% lower than the low of $17,567 on June 18, 2022.

  13. pass that fitness ball to SBF already. https://techcrunch.com/wp-content/uploads/2014/02/karpeles.png

    sorry for offtopic.

  14. Well, technically there are now 4 bullish divergences in a row on 1H RSI. But you know, I am not exactly longing at the moment 😁

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