Bitcoin Thread

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I've been testing a new trading strategy on bitmex testnet.

Opened a 10x BTC long at $11k and a 10x ETH long at $315. I still have them open and they're both at well over 100% profit.

FFS should have implemented it on the actual bitmex too. /facepalm :mad:
 
Countcrypto said:
This is crazy now. Btc at such a high market cap already going up 15% on the day. Where is this money coming from? It can't be small fomo investors surely?
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We have all explained it to you previous in this thread.

It is all money flowing back from altcoins or most of it at least.

That is why BTC marketcap percentage is steadily going up and not staying the same while the BTC price is going up.

Altcoins are getting bled dry.

See exactly how hard the altcoins tanked against BTC just today. If altcoins tank against BTC that value is transfered somewhere else which would be BTC that it is trading against. This is altcoin capital flowing back into BTC and in return propping up the BTC price.

BTC today is up 17% and if you take a real in depth look at the ALTCOIN/BTC price tank today it is likely to be close to 17% marketwide +/-. Ignore the tether listing it doesn't play much of a role with the altcoin market perspective.



altank.png
 
I havnt avoided shorting for so many days in a row in over a year.

Just the thought of looking for a short entry gives me the chills.

Entry/exits on long positions only until this madness ends, assuming it does. haha
 
Knyro said:
@John Tempus

Even your "safe bet" 5% leverage shorters would have been rekt today at an 18% move :eek:
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Oh for sure but I am sorry if anyone shorted in the current market and led it run that deep over the hours deserve to get rekt since they have no clue on how to trade or to cut their losses ahead of time.

the 5x leverage in my opinion is meant as a safeguard so that you dont get suddenly wicked rekt by 18% on a single candle maximum 1hr in length. Of course if you are going to trade on 1 day or 1 week candles you are screwed.

In other news, Bitmex funding in 3hrs is approaching 0.2% and if the pump continues we might even see a 1%+ funding rate in 11hrs. Most definitely there will be a huge dump of long positions before that funding comes in in 11hrs so it might be the point of a correction.

Whatever you do try not to stay in a position for too long unless you go long at extremely low leverage and dont mind just letting it ride haha
 
John Tempus said:
We have all explained it to you previous in this thread.

It is all money flowing back from altcoins or most of it at least.

That is why BTC marketcap percentage is steadily going up and not staying the same while the BTC price is going up.

Altcoins are getting bled dry.

See exactly how hard the altcoins tanked against BTC just today. If altcoins tank against BTC that value is transfered somewhere else which would be BTC that it is trading against. This is altcoin capital flowing back into BTC and in return propping up the BTC price.

BTC today is up 17% and if you take a real in depth look at the ALTCOIN/BTC price tank today it is likely to be close to 17% marketwide +/-. Ignore the tether listing it doesn't play much of a role with the altcoin market perspective.



View attachment 677003
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I follow all the alts I have bought and they're going slighlty/decently up in value. That doesn't indicate them being sold off as adequate explanation for this run. Nor does the extra 100 billion in market cap in around a week. Nor does casual fomo investment. It has to be institutional surely?
 
Countcrypto said:
I follow all the alts I have bought and they're going slighlty/decently up in value. That doesn't indicate them being sold off as adequate explanation for this run. Not does the extra 100 billion in market cap in around a week.
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Sigh.

If BTC goes up by 20% and ALTCOIN/BTC lose 15% value, it does not mean there has to be 2% difference in new capital to flow in.

You do understand that the marketcap doesn't go up by $1 for every $1 that comes in right ? It could take $500 for $1 move at one point and $10 for $10 move at another point.

The Marketcap is not indicative of the exact capital flow , it is a crude and rather pointless indicator of coin total x current price. It is junk logic but it is whats available at quick glance nothing more.

Its a fact on any metric that the BTC pump is by far mostly fueled by Altcoin exodus into BTC. I know you will keep arguing "but..but.. it cant be" , sorry its a fact.
 
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John Tempus said:
Sigh.

If BTC goes up by 20% and ALTCOIN/BTC lose 15% value, it does not mean there has to be 2% difference in new capital to flow in.

You do understand that the marketcap doesn't go up by $1 for every $1 that comes in right ? It could take $500 for $1 move at one point and $10 for $10 move at another point.

The Marketcap is not indicative of the exact capital flow , it is a crude and rather pointless indicator of coin total x current price. It is junk logic but it is whats available at quick glance nothing more.
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Altcoins are doing fine. Ether just broke $350 for example up 15% on the day.

Btc ignoring the 13300 resistance mark now.
 
Countcrypto said:
Altcoins are doing fine. Ether just broke $350 for example up 15% on the day.
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Jesus you are stubborn.

It is up 14% on the day because of BTC. It lost 4% in BTC purchasing power today and it is up 14% in USD , BTC is up 18% in USD.. Can you do the math even if its not an exact equation or do you want me to ?

IF ETH did not tank today it would have performed on the same USD value as the BTC price increase. And if ETH went up today against BTC it would have out performed BTC/USD.

It performed 4% weaker because it lost 4% roughly of its BTC power due to selling into BTC.

This is like a South park episode, "HOW DO I REACH THEEEZ KEEDZ?" but even a fifth grader would understand this logic but you completely every single time seem to be void of any dark matter up there.

I have nothing against altcoins, some are decent to trade, some are crap. But the consistent stupidity in responses is reaching special ED level now.
 
John Tempus said:
Jesus you are stubborn.

It is up 14% on the day because of BTC. It lost 4% in BTC purchasing power today and it is up 14% in USD , BTC is up 18% in USD.. Can you do the math even if its not an exact equation or do you want me to ?

IF ETH did not tank today it would have performed on the same USD value as the BTC price increase.

It performed 4% weaker because it lost 4% roughly of its BTC power due to selling into BTC.

This is like a South park episode, "HOW DO I REACH THEEEZ KEEDZ?" but even a fifth grader would understand this logic but you completely every single time seem to be void of any dark matter up there.
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I have more money in btc than I do in ether. I am not selling any alts because I am in for the long term and got most of them at rock bottom. It's all about bitcoin right now for sure.
 
Countcrypto said:
I have more money in btc than I do in ether. I am not selling any alts because I am in for the long term and got most of them at rock bottom. It's all about bitcoin right now for sure.
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I never tried to convince you to sell your alts, thats besides the point. I simply pointed out what the altcoins are doing negatively in the market vs BTC doing positively right now.

My arguments that you keep arguing against is what I am struggling with cause its not that hard to understand yet you constantly seem to respond as if the evidence does not exist yet it is presented on a platter.
 
John Tempus said:
I never tried to convince you to sell your alts, thats besides the point. I simply pointed out what the altcoins are doing negatively in the market vs BTC doing positively right now.

My arguments that you keep arguing against is what I am struggling with cause its not that hard to understand yet you constantly seem to respond as if the evidence does not exist yet it is presented on a platter.
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I have made it clear that I do understand that relative to btc alts are not doing as well. I have made that clear over and over and over. Let's not bore everyone with us affirming what's obvious.
 
Erm I think Bitmex just broke.

Balances doesnt show up wtf

What a mess, had to refresh multiple times just to get balances to show.

Total **** show, no point trading like this.
 
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