Quote:
Originally Posted by dobbles
Saw a headline last night that bitcoin dropped below $30k yesterday. Whats the play here?!?!?! Do we get out now before it totally tanks or bulk up ready for the next wave!?!?!?!?!?
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I personally have been selling my Cryptocurrency stock market plays since it started breaking 12k. I only have 1/6 of my positions left.
It's back above 30k at 32k this morning, but it seems to have stalled out. If it stalls here (30-40k) for another month, based on history I would expect it to crash. But this could be just the secondary coins catching up to Bitcoin because Bitcoin ran off and the BTC valuation of secondary coins became absurd.
Edit: I should note, ETCH was trading at 2x assets, so I had to accelerate my plans to sell because even it was priced according to Bitcoin being at 80k, I personally thought if it reaches that level we would see a quick crash like when it hit 21k last runup.