Bitcoin up about 16% in the last 24 hrs

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Tanko

Tanko

Joined
Oct 27, 2021
Messages
32,025
Mike, I'm not a big trader in BTC. I mainly use it to deposit/withdraw from my books. This may be a dumb question but...

I've read crypto moves opposite of interest rates. If the Fed Reserve continues raising interest rates to tame inflation, won't crypto continue to fall more? I read somewhere it may hit 20k by EOY.
 

mikesmith99

mikesmith99

Joined
Jan 8, 2022
Messages
2,908
Mike, I'm not a big trader in BTC. I mainly use it to deposit/withdraw from my books. This may be a dumb question but...

I've read crypto moves opposite of interest rates. If the Fed Reserve continues raising interest rates to tame inflation, won't crypto continue to fall more? I read somewhere it may hit 20k by EOY.
Not a dumb question at all buddy. This crypto world is complex. I think that FED right now is totally fucked after the huge money printout in the first year of the pandemic. Now, there are two ways of looking at it and tbh I like Ck's move at 44k. If you want to trade to make some profit on the short term then it's def not a good time for trading and I would stay put.

On the other hand Im trying to accumulate as much as possible for the mid to long run which is why dip time is like xmas to me so right now that im below my target floor im buying and hodl. Eventually went it goes back up, sell about 5 to 10% as it hits price targets like 40k and then 45k.

All the EOY projections I tend to be cautious cause there are too many variables imo. So yeah, a lot of it depends on you banking on it or using it to store wealth. both are totally legit and Ive traded with some alt coins buyt I just love btc too much
 

mikesmith99

mikesmith99

Joined
Jan 8, 2022
Messages
2,908
Oh and sorry for the spam but forgot to mention that about a year ago similar trends were happening and as we get close to Pizza Day (May 22nd - first transaction guy bought pizza with btc) it might actually tank a little bit more. Last year I was expecting the date to pump it up but was the opposite
 

Tanko

Tanko

Joined
Oct 27, 2021
Messages
32,025
Oh and sorry for the spam but forgot to mention that about a year ago similar trends were happening and as we get close to Pizza Day (May 22nd - first transaction guy bought pizza with btc) it might actually tank a little bit more. Last year I was expecting the date to pump it up but was the opposite
I clearly do not know enough about BTC. :ROFLMAO:
Thanks Mike.
 

mikesmith99

mikesmith99

Joined
Jan 8, 2022
Messages
2,908

Bubbles

Bubbles

Joined
May 13, 2021
Messages
4,519
I'd say its about a good time because next floor will be around 29k so it either bounces back then or breaks it so, since we are betting it will go back up long run. Im starting to buy little by little and if it bounces back around 29 k then its all in. If it breaks that floor price then keep going little by little. Trying to nail the perfect moment is kind of a pain so just go with the flow
thanks for your insight mike.
 

mikesmith99

mikesmith99

Joined
Jan 8, 2022
Messages
2,908
thanks for your insight mike.
Good time to buy?
Welcome!! Anything I can do to help. Specially as it is a complex subject and have taken some hits in the learning process. Having said that....

Im def not a financial advisor lol!!!

But did buy some BTC last night and waiting for the daily limit to finish and if its still below 32k im firing again
 

mikesmith99

mikesmith99

Joined
Jan 8, 2022
Messages
2,908
I bought some Litecoin last year when it was at around $191 so def not looking to check that wallet out but after all this bear market is over, could be poised to get back to its $200 level and books taking litecoin is def a great option
 
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