Crypto thread

I like DOT if BTC is bullish 

I’m stuck in this LUNA short now and it isn’t looking good 

I can’t even DCA at these prices because of the $100k limit on alt futures 

Fucking everything dumped besides Luna. Closing it for a loss here at $12.15 

Do you think Bitcoin will continue to crash? What’s the bottom number going to be?

I think 29k was the bottom and we’re on our way to 100k+ and full blown mania before the end of the year 

AngeloBTC is a trader who has been trading bitcoin since the early days. I always remember a story he told. A friend of his was better trader and overall bullish on bitcoin. In 2016 bitcoin went to like 450 and his friend went short. He ended up losing a ton of money and missing the run to $20,000. A 40x+ if he just held spot to 20k and a 120x if he held spot until 60k. Angelo is probably worth 9 figures. His friend isn’t.  

Michael Saylor also talks about this. 

Saylor has 110,000 bitcoins and his average price is like $36,000. He thinks nitpicking over these prices is foolish because it’s inevitable that bitcoin goes to $200,000+. 

So if you buy 1 at $20,000 and it goes to $200k you’re +$180k. And if you bought it at $40k you’re +$160k. Basically the same thing.

I always try to remember this stuff when trading because I am overall bullish on bitcoin. 

Number of users who have interacted with different DeFi protocols 

UNI - 2.4M
COMP - 326K
SUSHI - 201K
BAL - 178K
AAVE - 67K
MKR - 73K
CRV - 43K
YFI - 31K
SNX - 18K

We’re still early 

29k?! Yuck...

I’m stuck in a btc long and I’m trying to figure out when to cut my losses and move on.

100k+ would be awesome but I wonder how much the government will prevent that from happening with there bullshit regulations...

Nah $29k already happened. The bottoms in imo. On this dip I think $36k worst case, could be ready to turn around here.  

What are your entry and liquidation numbers? 

Entry is 41,000

Liquidation is 36k

My other option is to lower my entry point and hold on.

I wouldn’t lower your entry point here. I’d save it incase we dump lower. 

You want to get your liquidation price lower, not necessarily your entry price. You’re on defense now so if we dump to low 37’s I would add to your position with low leverage and your liquidation price will go way down. 

Or you could take the L here and try on your next trade. 

The market makers are going to liquidate longs to create liquidity to buy for the next move up imo. Seems like the FTX guys own the market lately — SBF and Sam Trabucco. 

@AlamedaTrabucco 

@SBF_FTX 

https://www.alameda-research.com/

What do you think a safe liquidation price is? Obviously nothing is for sure...

30k? Under?

I think under 36.5k is safe for this dip 

Marathon bitcoin generation increased 66% in July. The firm generated 442.2 new bitcoins during the month.

I think MARA is a good stock to own through the end of the year. 

Currently $26.93 

@I_Need_A_Detox

Grayscale has hired David LaValle to help with its ETF business to convert the biggest Bitcoin fund into an ETF.

Cathie Wood killed it on Robinhood stock 

One of the most underrated voices out there 

Worth searching to see what she’s getting into every now and again 

Nice pump 

I think it continues and stomps people shorting here 

Fidelity just bought 7.4% of MARA.

Yeah the plebs don’t understand what happened with China making all of the bitcoin miners shut down. It’s much easier to mine bitcoin now and MARA is going in heavy. They just bought an additional $210,000,000 worth of mining equipment from bitmain. 

I’d like to see this daily candle close at 8pm ET above 37500 for a bullish engulfing candle 

Leverage long Btc at 39300 

Leverage long dot at 18.75 

The daily has 4 red candles followed by a bullish engulfing 

Looking for btc over 40,000 by tomorrow’s close 

Added to position at 38,000 

If this thing pukes I’ll be on WallStreetCappers couch