Crypto investment my ass: financial advice from a newbie

submitted by jostiniane from self.cryptocurrency

If BTC approaches 20k, just get the fuck out with what's left.. I keep hearing continues reports that below 20k, the real horror will start as mining companies would have to leave because of the lack of profitability.. They will liquidate their assets by 20k..

RIP LUNA bros

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[–]quantum-step 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

Source: https://coinmarketcap.com/currencies/bitcoin/
12May2015 BTC=$241
12May2016 BTC=$400
12May2017 BTC=$1,700
12May2018 BTC=$8,500
12May2019 BTC=$6,900
12May2020 BTC=$9,000
12May2021 BTC=$49,000
12May2022 BTC=$28,000
Bitcoin will be fine, but all the other shitcoins (and NFT's) are going the way of the dinosaur. Poor stablecoins.

[–]jostiniane[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Damn, 7 years ago is not that long.. Makes me rethink what I said..

[–]quantum-step 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Seeing Luna and its stable-coin fall like that is fucking crazy-scary. I won't lie. I thought about selling, but then I remembered the MTGOX hack and how it was the end of all crypto a while back.

<sarcasm> I should just invest all my money in the new madonna nfts!!!! That's where the big money is.</sarcasm>

[–]Drewski 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

Buy the dip.

[–]jostiniane[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

LUNA is 0.00000000000002 people who bought the dip at 0.03 got fucked too.. Only BTC and XMR are safe I guess.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

And mobilecoin is safe too

[–]SoCo 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I wouldn't expect mining companies to sit on any crypto assets, so them selling hardware doesn't hurt anyone. It just helps make Bitcoin mining more eco-friendly. We have too many people mining and very small profit margins, with outdated, inefficient hardware. They will be the first to go.

The entire world economy seems to be crashing. It makes sense that institutional investors, hedging their investments from inflation in crypto, would pull much wealth out now to buy the dip in the blood bath of the standard stock markets right now. Bitcoin will recover in the long run. We might lose some weaker and hype-reliant junk along the way, but that is how survival of the fittest goes.

[–]Mazurro 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

2016: Bitcoin dying 2017: Bitcoin dying 2018: this time for sure Bitcoin dying 2019: Bitcoin dying 2020: this must be it, Bitcoin doing, sell asap 2021:BITCOIN DYING SAVE MONEYYY 2022:Bitcoin dying

Bitcoin won't die that fast imo, however NFTs joke will super fast. I just want to see scammed people cry.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Bitcoin won't die that fast imo, however NFTs joke will super fast.

Those NFTs are providing liquidity at insane valuations. When they go it will bring down everything.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

It's worse than that.

https://www.cbsnews.com/news/coinbase-cryptocurrency-prices-slump-volatility/

I had pulled most of my money out already, but Luna hurt bad for what was left.

[–]jostiniane[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

I wonder why I can't see LUNA anymore in Binance, last time I checked it was 0.000000000000002

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It was delisted. Rip Luna.

[–]jw329 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Bitcoin is the future. Shitcoins are not.

[–]jostiniane[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I wish it would be replaced entirely by LTC (after they add the security layer) for the cheaper and faster transfer rates though..

[–]Noah8293 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

However, regulatory challenges and adoption barriers still need to be addressed for tokenization to reach its full potential in transforming https://gamcaretradeservices.com/ traditional asset markets.