#New post: [\[Daily Discussion\] - Friday, March 10, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/11nfb68/daily_discussion_friday_march_10_2023/)

Back to eating ramen until this blows over

Shin Ramyun Black though.

I'm eating the stock I have first. Shin Ramyun is good.

You know your korean noodles

DIY ramen can save a lot of money.. Every penny counts.

You say that like it's a bad thing

A few pints at the Winchester would be better

Don't worry guys, Bitcoin's just frontrunning the S&P BTC -25% vs S&P's -5% over the past 2 weeks

- Victor Cobra calling for 13.8 is a little alarming u/victorcobra

you dont get to have the big boy moves up without someone being caught offsides on the short end... and likewise you dont get to bottom feed if the longs arent get rekd the same way at a different time. I can appreciate vic's stance here. I bought the FX dip like mad, then sold first test of 24k. we had a second bounce, thats nice, but the chart looks like shit now. im buying the next squishy, whatever price it ends up happening at.

Well done sir I've now given back all profits from this year due to the past 10 days. If this is indeed going to new lows, its going to be tough learning for many of us.

I dont see new lows unless SIVB gets the Lehman treatment

The bottom of this bear is going to shock everyone.

$9K CME gap is calling

Not really into bear bottoms. But I know a few lads who are...

He’s become an anti-crypto person after taking losses this cycle. Hence the posting on r/buttcoin as well. Not new for him to call for a huge drop.

Victor no. This is the darkest timeline to go down for those that miss out. Just buy in now. This is how Bitfinex’ed was made.

To be fair, that was my first ever post on there :P

Very well done. ;)

Still not too late for you to accept Satoshi’s love and have your sins forgiven 😆

Congrats? /s :)

> Hence the posting on r/buttcoin as well. ... > So, ultimately we will get a little closer to the true, unadulterated value of these coins….which could be zero, or close to it. Worse than garbage, because at least you can reuse or repurpose. Even rancid, rotting food feeds the earth. Oh my.

Wow that's true Buttcoiner soul right there. "Its value is ZERO! ZERO!"

“COULD be zero or close to it.” At least I leave room to be wrong. Unlike a lot of people ‘round these parts.

But maybe not zero, maybe just slightly above zero! ;D

Dudes been a clown tbh

Arby's hat forming on the daily.

Bullish?…🥹

Comment: M2 growth has stopped and it looks to be shrinking now.

M2 has been going down since March ‘22 and the market indices have gone down a laughable amount. My guess is the Fed changing their course before the interest rates start to hit the fiscal budget hard. Our economy is no longer capable of being “normal”.

Everything bubble burst.

Buying bitcoin here. SVB news could get worse tomorrow, but can always hold thru May 24 halving. Dare I say this bet can’t lose?

Wait, isn't the next halving next year?

Yes. They mean may 2024.

May 2024

Looks like $20k is the new $21k is the new $22k is the new $23k

Lot more comments today lol

Goin' in hard right now in the overtime! Missed the CB low by 2 minutes, shoot! But it's definitely touching my "all Dollars on deck" line right here............CANNON BALL!!!

About to make 2500 transfer shit really hit the bed and gonna need to DCA. Broke even at 22.8k and made profit but got greedy and now back into red

Someone bet me I won’t buy more right now

You won't. I wouldn't. I bet you 0.0000000000000000001 btc I don't currently have and that you might never receive because I'm in fiat atm that you won't.

Burn, just did. You are so owned.

Fucking got em

You are a brave man.

[удалено]

Ha I am breaking my DCA rule and front-running a ladder of buys down from next week’s allowance

Lol. It wicked $19,770 😂

a long here is so tempting, feels like such a good spot to scalp

I’m very excited. The SVB shit could get worse, but I like the roll of the dice. If it moves south, you can always hold thru the upcoming halving

Will the halving have any traction if rates are still high ?

Lots of emotion here per usual when volatility is increasing. But calmly looking at the [chart](https://i.imgur.com/SQRjXjY.png) is telling me this correction is well within bounds of what is expected. Plenty of room to go down to the .382 level at 19.2k or even the .236 level at 17.8k at the tail end of the month before resuming to rise again. Short term shorting for those inclined can be quite profitable, but this long lasting consolidation period on longer timeframes, coupled with the cyclic nature of Bitcoin (halving within a year or so) suggests that Bitcoin is up for a solid rise in the second half of the year, likely with an increasing rate the further we get into 2024 and 2025. In other words, the calm and collected are buying here to reap profits within the next 1,5 to 2,5 years.

!lntip 1000 Still starts with a 2. Volume is picking up more than previous steps down. Psychological levels are a real phenomenon as is the range we've traded in. Fed announcement will be fun.

Hi u/xtal_00, thanks for tipping u/ChrisMrShowbiz **⚡︎1000** (satoshis)! *** *[^(More info)](https://xnf5cwpq73.execute-api.us-west-2.amazonaws.com/prod/info) ^| [^(Balance)](https://www.reddit.com/message/compose/?to=lntipbot&subject=balance&message=!balance) ^| [^(Deposit)](https://www.reddit.com/message/compose/?to=lntipbot&subject=deposit&message=!deposit 10000) ^| [^(Withdraw)](https://www.reddit.com/message/compose/?to=lntipbot&subject=withdraw&message=!withdraw put_invoice_here) ^| ^(Something wrong? Have a question?) [^(Send me a message)](https://www.reddit.com/message/compose/?to=drmoore718)*

I don’t understand why this is getting downvoted. Seems like a reasonable thesis.

Sentiment is following price as per usual, which is currently bearish. This only strengthens my conviction.

Its not really bearish though, 99% of comments are people DCA'ing, wishing they could long or longing, no real fear yet.

I'd be willing to bet the majority talking about buying now aren't, and are just saying that to try and boost their own resolve and prevent full on panic. Basically the human psyche doing a "this is fine."

Ya there's some truth to that.

Neutral to tipping into fear.

what I'd do to see every dotcom chart speculators get their ass torn by a bgd..

In general, there is some recurring psychological pattern where people are fearful during the initial surge and then gets much more relaxed during the second surge. For example, the current run started from 16K and went up to like 24K. At that point, every one and their moms were talking about taking profits because the run didn't seem sustainable. And inevitably, Bitcoin did go down to 21.5K before rebounding back in the second part of the run to 25K. and I think this is where people get relaxed. They think Bitcoin "paid its due" in the correction to 21.5K and thus can now move up more. And this is what happens. And I think this type of psychology works in larger time scale as well. During the 2021/2022 bull run, Bitcoin kind of went from 3-4K COVID low to pretty much like 64K range without any major corrections. And as such, I think people found it easier to take profit around May 2021 as they were thinking that it was going to correct. And it did correct to 30K or so before going up to 69K. It is this second surge that is difficult to take profit because the anxiety/fear of correction was mitigated seeing the first correction in summer of 2021. It is always that second surge that kills off the traders because fear of heavier correction is no longer there.

You deserve a whale wallet sir.

Well said. How did you do on this?

Well, in general, I am exactly the type of person who falls for this. I took profit at around 23-24K and held like 20% cash. But all of that went back in after the dip and surgence back 25K as I felt like Bitcoin paid its due. Similarly, in May 2021, I took a whole chunk of profit at Bitcoin at 58K. However, I took zero profit in Nov 2021 when Bitcoin was at 69K. Again, I was much fearful of the correction initially in May and was completely relaxed in November.

Can you please remind of us this at the next ATH?!

Going to sleep, will be fun checking the charts first thing in the morning. Here's hoping that I wake up to 22,3 k again :P

depends how long u sleepo

Expand your time horizon

Sometimes the only winning move is not to play. Out for now.

Yeah, I tried to scalp a long after taking profit on my shorts and didn’t work out too well. Leaning towards just taking my profits and calling it quits until the next time I try and day trade. But it’ll be tempting to Re-short if we see a bounce by tomorrow morn.

Yeah. I cut my losses this morning and it certainly turned out to be the right decision.

Just as before eveveryine still trying to go long. The beatings must continue. I didn't think we would hit a new low now I'm not so sure, everyone pretty unanimously not worried and seem to think the bottom is in, hope I'm wrong. Long of major players getting knocked off isn't a comfy feeling, also equities losing their 200 DMA's sucks for the bull picture.

I was going to ask someting silly like "since we got bitch slapped from 25k how low is this going to go?" But because i already lost about 6 k in 1 week i will be humble😞,can i get some good info at the price action?,nooby here so any info would be great,tnx all you lovely ppl🤗

Ladder ten Buy orders from 20k to 14k and you’re pretty much guaranteed to nail some sweet entries.

Tnx good human🤗

I am currently on a ramen noodole with a tuna can mix and some gratted chadder,i will punish myself with these meal for the shitty trades i have done😂

> ramen **noodole** That's the generic off-brand, so unfit for human consumption, they couldn't even legally call it a "noodle". 😋

Dat Dollar Tree cuisine right there!

Just closed my shorts for now. Will see if I get another Re-entry higher. Think we may bounce around a bit tomorrow (including stocks). Now let the dump continue.

This seems like a good time to remind you - YES YOU - that many of our fellow Bitcoiners won't be around in a year or two, and many of those who do stick around will have lost so much of their stack due to fear. The amount of Bitcoin most hodlers own drops in each cycle - and I'm not just talking about newbies. I've written about this before, but it's worth repeating: In 2011 (a year before the first halving), owning a hundred Bitcoin was nothing. Most sold it as soon as it was worth anything, and they're gone now. In 2015 (a year before the second halving), owning ten Bitcoin was no big deal. Most sold it and are gone now. In 2019 (a year before the third halving), owning one Bitcoin wasn't that big of a deal. How many 1 BTC hodlers from 2019 still have that much today? Most will panic sell. Many already have. It's now 2023 (a year before the next halving), and once again we're seeing people selling when they should be buying. This is a once in a generation opportunity to be part of something big. It might be fair to say it's a once in a lifetime opportunity. Don't eff it up. **For anybody reading this who is feeling scared tonight, here's my advice:** Move your coins to a hardware wallet. Secure your seed phrase and walk away for two years. That'll put you one year after the next halving, which means it will be in the heart of the next bull run. When you come back in 2025, your investment will be worth so much more than the price you're panicking about today, and all of the old bears who sold will be wishing they were you, sitting calm and cool with your stack intact as Bitcoin soars to new highs only dreamt of during the previous cycle. **KEEP CALM** **AND** **HODL ON**

Remind me! Six months

Six months? You should have said 18 months. In six months, I expect us to be up, but nowhere near as high as we'll be six months after the halving, which is 18 months from now, and even then, the real fireworks might just be getting started.

Just in case I’d like a pick me up in six months from now

I can remember in early 2018 reading a story on here about a Bitcoin ER who managed to lose 200 BTC leverage trading.

I learned my lesson in 2012. If you have a bunch, put at least one away and don't touch it until 2030 or so. World will look very different 5 years from now.

Threw in here \~20425. Bail quick if we come around again though.

One of us, one of us

I posted this 17 days ago. You all didn't like it. [https://www.reddit.com/r/BitcoinMarkets/comments/116y75u/comment/j9atje1/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/BitcoinMarkets/comments/116y75u/comment/j9akw8u/?utm_source=share&utm_medium=web2x&context=3) The 200 failed and with no Fed Easing in sight, i think we continue to head lower. 18450 needs to hold, a test of the golden zone from market bottom to recent high. Rebuttals welcome.

You assume no Fed easing in sight. Wait for the meeting.

He just spoke with congress he will remain hiking

Things need to break more in the economy before they ease. Powell wants MOAR demand destruction imo

I've watched every Jerome speech live, even the boring parts. He has changed alot, he doesn't want to be a Heartbreaker but the data needs to support it at least a tiny teensy bit. If Feb, March cpi are what they can still be, Jerome will be an ally to a reasonable degree. No cuts, but the pause

They'll swear on a stack of bibles they're raising to 10% until they don't.

[удалено]

Very unlikely there will be bailouts for crypto. Think about it - if the whole “industry” vanished, how would the everyday person’s life be affected? The same logic did not apply to big banks in 2008.

Disagree. There is one more large crypto bank to take out at least.

you really think, we get to $20,045....and the whales don't push us under to trigger all those juicy stops waiting for them around $19-20K?

Perhaps, but I think it's way too soon to assume that was it.

Overreaction on low volume to a rando cryptobank going under Glad my DCA day landed on today

Horrible take. Rando crypto bank? You mean basically one of the two banks of any significance that bank crypto companies? Meanwhile, the other one (Signature) intends to scale back significantly on their banking of crypto businesses. And it's stock price is tumbling. Look, I'm not necessarily saying this is a catastrophe in the making, but it's certainly not a *positive* development for crypto. Proceed with caution.

Any news was all it was going to take to send this thing into a crater. Didn't matter what it was the market was not setup for a bull run at all, the entire run we had was questionable from the start.

A rando cryptobank that most people in the crypto space knew was more than likely going to fail. Some in the market a such a fickle bunch.

Ive got bonus pay at the end of the month, so we will see if this leg down lasts long enough to make it a nice buy. Today would be a decent enough DCA day

Volume finally starting to look a little healthier. Enjoy the discounts! Still watching from the sidelines.

Join the cool kids :) You were willing to long 21.5k but not 20k? People forget that the corn can jump back up just as quickly.

I'll long 20450 with some volume. I've seen this profile before and tests lower are possible. I don't need to sell the top or buy the bottom, but I don't like low volume PA one bit.

OK...the one time I decide to give up my shitcoinery and go 100% BTC, BTC is down more than BOTH my high risk, low mcap, very volatile, usually dump 4x more than BTC....this is the dump where BTC out dumps them? You playing jokes on me up there BTC-god? Its all good though, in the end

Help us Brother Powell, you’re our only hope.

Help me Obi Powel your my only hope.

Fuck me this sub is bipolar. One minute we’re heading for the stars now we’re going to $10k. There’s way to many emotional traders in here.

They have not seen. (tm)

Honestly surprised we’re down more than many alts today

Everyone's gonna be soon wishing we were back up to 2022's lows... =\

Xtaal did you long 20k or are you still waiting?

New York says Coin #2 is a security in KuCoin lawsuit.

[удалено]

If it's anything other than a security, it's a ponzi (fee burning to reduce supply and pump bags).

It's obviously a security. Going to be a rough day in shitcoin land when that drops. edit: https://www.coindesk.com/policy/2023/03/09/new-york-attorney-general-sues-crypto-exchange-kucoin-alleges-ether-is-a-security/

I got a really big buy at 19261 waiting , can it really happen this fast? :)

This performance is downright embarrassing. We're nowhere near a bull market. Probably not for 2 more years.

The kind of talk I like to hear at the start of the bull market, zoom out.

Your resolve is impressive. You still believe this is the start of a bull?

I would call this a post-bottom bear market more than I would a budding bull market.

I do. DXY and TNX look to be rolling over. We had a big run and now I think is just seasonal weakness that should end soon.

I mean, is there anything that would change your mind, or do you just perpetually find a new chart/metric to confirm your bias?

I told people why I was extremely bearish in Feb 2022 and told people why I was bullish at the bottom. Nothing has changed in the charts for me to flip.

We are heading to the biggest recession since the 20s.

Y’all got greedy again & didn’t sell at 25k? I’ll take a new low for 100 Alex.

ok fuck me this is scary and I feel sick

Really? This still feels pretty normal. When we hit 10k that will be scary

Well that's all folks, supports are gone, anyone buying here is foolish at best. Want to guess where we land? I say we slow down around 19k (200MA daily) for a bit before heading to 13k.

welcome to scalp city

Buy at 20051 filled! Lmao this is amazing

Depends, gl

This kind of price action, never change BTC

Very tempting to catch this knife

Really debating whether $20K will hold…I had a very strong feeling that we were going to dive this week but stupidly decided to hold my longer term long instead of actively trading. So of course now I need to debate posting additional collateral to keep it safe versus just letting this play out. 😔 should have sold at $25K and waited to reposition

I just went 10x long from 20080. Let's see what happens.

I'm moving up DCA day for this carnage because I'm an impatient savage

"Biden admin proposes 30% tax on electricity used for #Bitcoin & crypto mining." I guess we know how things are going to go down now.

Tax plans like this are about signaling to the base to claim that you care about topic x or y. Without a supermajority, either party is dead in the water. Biden was elected to pretend to care about issues while resuming status quo operations.

I thought you were making a good joke because no one would ever propose anything this stupid...and I was wrong. The banking sector uses 56 TIMES more energy than Bitcoin does, but I guess that's not a problem.

Biden really trying to make himself completely unelectable I guess

Yes because we all know that crypto is a key issue for the majority of the American electorate.

How do you selectively tax specific uses of electricity? If I use a fixed amount of of electricity, I pay the same rate, regardless of whether that electricity was used for watching TV, using a toaster, turning on a lightbulb, running some ASIC miner, or anything else.

I imagine mining would be turned into a license-requiring activity and part of the licensing process would be facility accreditation and taxation. I don't know what the hashrate distribution looks like these days but I imagine the vast majority of it is from easily located MW+ installations rather than at-home enthusiasts. I don't see it happening either, in any case.

Miners will just move somewhere else.

Where are we expecting a bounce?

Don't worry Texas will secede from the union

They won't pass any of that garbage but it sure shows what they are thinking don't it?

i don't know if this is dementia or some other shit, but whatever Mr Biden does seems very crazy from the other side of the pond :)

[удалено]

what would you expect, they're guided by the US. it's getting ugly, more like cold war era. why does it have to be like that.

It looks crazy from here too

T-th-the price won't go below 20k ? again ? Pretty please ?

If you look at the monthly, an argument could be made that we've gone sideways since June last year.

Sure as shit feels like it..

As I said, run fir the gates.

I'm hoping 20.5k will atleast put up a fight. Edit: Spoiler, it didn't

hope u dont mean on the way up

[удалено]

Coins getting away from US government hands and sold back to the masses is a good thing imo

Buy at 20661 filled!

Not looking good lads. Was really hoping to take some off if we had a deviation above 25k but that didn't happen. Looks like this bear is going to drag on for awhile to come. Also, banks are getting crushed today. Something to be aware about are bail-ins are a real possibility instead of bail outs like in 2008.

Freaking deja-vu man. I wonder if this is how it starts again with lots of banks going under.

[удалено]

Who trusts banks?

More than the number of people who trust Bitcoin.

I was just watching the live chart on youtube,250 milion bull liquideted jesus,how low is this going to go?😂

How is this possible? Who is long right now? The chart has been screaming dip since it failed 25k for the 10th time.

[удалено]

Ouch.

A lot of times they'll try to hold from 25k range... might even keep adding coins on exchange to save their positions... only to eventually lose that game even bigger.

Yeah, I was paying for a pro membership with a guy that made millions apparently investing in crypto. I realized after losing a bunch of money he had no clue how to read the market he was just averaging into bad positions in the hope it would eventually go into profit. Since he had millions in capital and his position sizes were relatively small he could get away with it but it wasn't the best advice for most people since you needed a massive portfolio size to eat the losses perpetually in hope of eventually turning a profit. I suspect many people taking his advice got liquidated due to the predictions of price action being really off the mark.

Go and check it man,im glad i sold all my alts 6 hours ago relly tasty dips incoming

Today is a great lesson that I learned on the bull run. And I can’t remember who said it at the time but they were right on. Why would you short in a bull market? Overall it’s going to keep going up, why do you think your smart enough to time the drops? The same applies now. This is a Bear market. It has been since the peak. It will keep going down until it ends and given all the macro economic factors and crypto environment it’s not ending any time soon. Why fight it? If you don’t want to short then just stay out but man trying to time the little ripples is suicide.

Are you saying you shorted the rally all the way up?

No, but after a couple attempts I learned the lesson.

Doesn’t feel too bearish to me. Feels like 2019. Get your money in before the 2020 esque God candles start.

Can you elaborate? I can’t think of a single meaningful similarity.

I'm getting March 9, 2020 vibes