[Finance] The cryptocurrency (Bitcoin etc) thread

[CheeseRolls]

Crypto markets turning very ugly again - sigh. Pretty much following the same pattern is my pension the last 6 months. I put more and more money in, I get more units and the value of my portfolio doesn't go anywhere.

Strategically I have reduced my Terra related holdings. These have been doing relatively well. I wanted to rebalance my portfolio, so sold some (mainly astro) and moved this to some of my Alts, which were not performing so well, as the potential upside is bigger. I have also increased my holding in Quant, which just looks like the best long term bet to me. Currently sitting at around 12% profit for now.

 

[beorhthelm]

standing by to short the shit out of it if we go below ~37500. it may be all over for alts, even good ones wont come back from a full bitcoin nuke, as there will be regulation soon. a lot of crypto is waking up to fact most tokens arent needed for the "utility" claimed. Layer 1 and a few others, everything else was just fund raising without give any form of equity.

 

[beorhthelm]

nice bounce rescues the outlook, BTC setup for a nice range trade to ~45k.

probably have a week of modest rise/sideways before the Fed meeting next week, setting US interest rates. if they raise rates less than 0.5 could be a strong reaction in markets. if 0.5 neutral, over 0.5, everything nukes. yep, BTC is now just trading in line with the rest of markets, just the % are amplified.

 

[B-right-on]

Think BTC heading down to $20k in the next few months. Bear flag on the daily, massive indication that it's heading lower.

Heard an analyst say that Crypto needs a dot.com bubble burst type of thing to get rid of the 18,000+ coins out there and pare it down to the few that are truly providing value. Bye bye dogecoin.

 

[pb21]

The dead cat is now resting. Reading bits and bobs and it seems like something significant is brewing all over the shop. In terms of BTC only $20k seems very feasible in the near future, I'm keeping some dry powder at the ready....

 

[beorhthelm]

oh bollocks.

 

[CheeseRolls]

Looking on the bright side, there are still plenty of good staking opportunities.

Hedera Hbar 48.88% APY for the adventurous
Astro 50% APY

Many many more in the 10-25% range, particularly if you are prepared to move stuff off exchanges. If you believe you are holding something of value, accumulating more in a downturn, is the best preparation for the eventual upswing.

 

[pb21]

Looking on the bright side, there are still plenty of good staking opportunities.

Hedera Hbar 48.88% APY for the adventurous
Astro 50% APY

Many many more in the 10-25% range, particularly if you are prepared to move stuff off exchanges. If you believe you are holding something of value, accumulating more in a downturn, is the best preparation for the eventual upswing.

You can stake DOT on Kraken @12%.

 

[CheeseRolls]

You can stake DOT on Kraken @12%.

True, although you lose a little for the convenience
https://www.stakingrewards.com/earn/polkadot/

 

[Dibdab]

All the indicators suggest down, as far as $20k, but Ive not seen sentiment this bearish since 2018, which makes me think the opposite is always a possibilty. BTC loves to catch everyone out!

 

[CheeseRolls]

Bought some additional HBAR over the weekend to stake. The price was pretty much what I paid on my first foray into alt-coins in March 2021. It then trebled in price within three weeks, which made me think it wasn't going to be that difficult to make money.

I am sitting on -10% now and do think there will be a strong rebound, but there is nothing in the short term to suggest this is imminent.

I have some staked ALBT about to mature and will likely swap half of this for bnb and add this to my liquidity provider stack. I am also expecting to see some staking options for Obortech on BSC this week, which might interest me.

There was an interesting attempt to de-peg UST over the weekend, which has caused a few waves in the Luna community. It looks to be a lot stronger than Solana, which I think may struggle to bounce back.

Not sure if anyone here is that nerdy, but I have locked up Xastro for 6 months on the Apollo lockdrop, in what they are trying to label AstroWars to generate some hype around the whole thing. I can explain this if anyone is genuinely interested, but if you don't have a clue what I am on about here, it is highly unlikely to be of interest to you.

 

[Marshy]

I'm sitting on utility coins. The fundamentals have not changed. Those who hold will be handsomely rewarded.

 

[schmunk]

I'm sitting on utility coins. The fundamentals have not changed. Those who hold will be handsomely rewarded.

...or eventually lose all their money.

 

[Tom Hark Preston Park]

Magic beans suddenly not looking too clevor trevor. To buy the dip or bale out of the death spiral, that is the question...

 

[Solid at the back]

Bought some additional HBAR over the weekend to stake. The price was pretty much what I paid on my first foray into alt-coins in March 2021. It then trebled in price within three weeks, which made me think it wasn't going to be that difficult to make money.

I am sitting on -10% now and do think there will be a strong rebound, but there is nothing in the short term to suggest this is imminent.

I have some staked ALBT about to mature and will likely swap half of this for bnb and add this to my liquidity provider stack. I am also expecting to see some staking options for Obortech on BSC this week, which might interest me.

There was an interesting attempt to de-peg UST over the weekend, which has caused a few waves in the Luna community. It looks to be a lot stronger than Solana, which I think may struggle to bounce back.

Not sure if anyone here is that nerdy, but I have locked up Xastro for 6 months on the Apollo lockdrop, in what they are trying to label AstroWars to generate some hype around the whole thing. I can explain this if anyone is genuinely interested, but if you don't have a clue what I am on about here, it is highly unlikely to be of interest to you.

I've got around 7000 HBAR in my Exodus wallet, is it worth staking? What's involved, what's the risks, etc? How do I do it? Do you get it back?

 

[pb21]

Magic beans suddenly not looking too clevor trevor. To buy the dip or bale out of the death spiral, that is the question...

There is no suddenly about it, the price has been following the stock market for months, particularly tech stock, NASDAQ down 23% this year BTC down 24%. Things are getting very messy all around...

 

[CheeseRolls]

I've got around 7000 HBAR in my Exodus wallet, is it worth staking? What's involved, what's the risks, etc? How do I do it? Do you get it back?

The short answer is you require a Hashpack Wallet and stake via https://hedera.staderlabs.com/lt-pools
If you stake you can't get your money back until they launch their V2 product, which is expected bot not guaranteed to be in July 2022

The rewards are currently sitting at 52% APY, which reflects the risk. Stader have been building a reputation on Terra, so they are not a complete unknown, but this is NOT for everyone.

 

[CheeseRolls]

There is no suddenly about it, the price has been following the stock market for months, particularly tech stock, NASDAQ down 23% this year BTC down 24%. Things are getting very messy all around...

Nail head. My crypto is outperforming my professionally managed pension fund over the same period. Maybe I should withdraw both sets and go on a mind altering whirlwind spendathon, to avoid THPP's death spiral of the global economy.

 

[bhafc99]

There is no suddenly about it, the price has been following the stock market for months, particularly tech stock, NASDAQ down 23% this year BTC down 24%. Things are getting very messy all around...

Nail head. My crypto is outperforming my professionally managed pension fund over the same period. Maybe I should withdraw both sets and go on a mind altering whirlwind spendathon, to avoid THPP's death spiral of the global economy.

Just checking I’m not misunderstanding you here…

Are you agreeing that, while your Crypto portfolio is down in the region of 23/24% this year, your pension fund is down even more?

If so, you need to seriously review who’s running your pension! Unless of course you’re in your 20s say, and up for a wild rollercoaster of risk appetite, no way should a professionally managed pension be down so much in one quarter.

But if I’ve just misunderstood you, and it’s just that yr Crypto is “doing better”, then that’s all good.

 

[schmunk]

Just checking I’m not misunderstanding you here…

Are you agreeing that, while your Crypto portfolio is down in the region of 23/24% this year, your pension fund is down even more?

If so, you need to seriously review who’s running your pension! .

Indeed, I have a couple of former-employer pensions with Standard Life, invested in different funds - both are down ~4.5% since 1 January.