SEC approves the first Bitcoin spot ETF

Olorin said:
This is pure speculation but not out of the realm of possibility - if we get a $2 billion later today when trading starts flowing into BTC then that could result in big gains, correct? Do you not think we'll see gains trading later today in BTC? The bitcoin ETF announcement seems to have been priced in, but not the inflows of cash as a result correct?
Black Rock apparently is lining up $2 billion for trading on the first day. Bloomberg is predicting $4 billion later today. Now this might not happen, but still pretty exciting and pretty darn bullish to me.
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Never trust mainstream media with crypto news. They are always most bullish before a big dump, and most bearish when the price is about tto shoot up/ It will go now of course but when it drops its going to be a fast big red candle. Take 50% profits TODAY and the rest if it spikes to $50K. .You will have an opportunity in the next week to buy back at a lower price.
 
I see bitcoin is rising at the moment. Looking good so far. Trading starts in the next 20 minutes or so.
 
Well I'm out for now. Put in R160k two weeks ago. Left with R174000. Not too shabby - R14K profit. But I must admit, this was a panic sell.

I'm just going to have to time my next jump in.
 
Olorin said:
Well I'm out for now. Put in R160k two weeks ago. Left with R174000. Not too shabby - R14K profit. But I must admit, this was a panic sell.

I'm just going to have to time my next jump in.
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I just go out on a whim and ask @Snyper564 . When he gives me the nod I buy. Try it out, works well


Nodding meme guy' is Robert Redford, and the Internet is stunned.
 
Olorin said:
Well I'm out for now. Put in R160k two weeks ago. Left with R174000. Not too shabby - R14K profit. But I must admit, this was a panic sell.

I'm just going to have to time my next jump in.
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As your tax consultant seems totally clueless where crypto is involved here is some free advice.

that buy and sell right there is income tax. Dont forget about sars (NOT CGT) you also just became a provisional tax payer, second provisional is due end of next month.

This is assuming you not a provisional income tax payer already. Also you only pay tax on the profit so R14k
 
Snyper564 said:
As your tax consultant seems totally clueless where crypto is involved here is some free advice.

that buy and sell right there is income tax. Dont forget about sars (NOT CGT) you also just became a provisional tax payer, second provisional is due end of next month.

This is assuming you not a provisional income tax payer already. Also you only pay tax on the profit so R14k
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Thanks for the advice! I have to submit my logbook which I did last year already, so I guess I'm a provisional tax payer. I don't think I ever would have qualified for CGT because there is no way I can keep my crypo long term for, what is it, like 2-3 years without touching it? So i understand I fall under a higher tax bracket because of it.

UB40 said I should ask you for crypo advice. So when next would be a good time to jump back in with Bitcoin to buy? I see it's come down quite nicely from R925000 to under R878000.
 
Olorin said:
Thanks for the advice! I have to submit my logbook which I did last year already, so I guess I'm a provisional tax payer. I don't think I ever would have qualified for CGT because there is no way I can keep my crypo long term for, what is it, like 2-3 years without touching it? So i understand I fall under a higher tax bracket because of it.

UB40 said I should ask you for crypo advice. So when next would be a good time to jump back in with Bitcoin to buy? I see it's come down quite nicely from R925000 to under R878000.
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its anyones guess roll the dice if you want :)
 
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