JayJuanGee
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How much alt coin diversification is needed? 0%?


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October 12, 2018, 05:26:26 AM

Could we possibly be tied to the tech stock sector? My stocks chart and daily btc price look a bit too similar and rose at a close pattern.

Zoom out a bit, and think about the situation.

When you say "we" in the context of this thread, I presume that you are referring to bitcoin rather than to some more amorphous "crypto" concept.

Surely, there is some correlation from time to time; however, bitcoin is not really as much about tech as it is about soundness of money - even though it relies upon tech to achieve its goal, there is nothing really "tech stocks" about bitcoin, unless we are talking about threats to shut down the whole internet (or substantial parts of it) or alternatively some major bug in tech that fundamentally interferes with bitcoin's operations security....

  

^
Mmmmm for me its only going too be VENOM movie.....

But i do like seeing you Guys doing what you do BEST Grin

Having Fun laughin @ the fucking price and just keep hodling like bosses
My lame ass will have to sell soon for closing cost and down payment. I'm kinda stressing.

You should NOT let your cashflow get so close to "having to" do something that might not be in your interest, which means that you have been gambling too much of your cashflow, hoping for UP...

"we" could go to $3k or to $1k and stay there for 6-12 months, and your cashflow should be prepared for that...

.I am not predicting that such $1k to $3k range will occur, but I am saying that you gotta be prepared (repetition, I know).  but:


I say we as in the Bitcoin horders especially those in this thread who shitpost. Truth is, I don't have many coins, just a handful my dumbass didn't spend and have slowly accumulated. I have been hodling on as I needed to keep them away for a house and debt. I guess fomo has been going strong since the first huge pump I saw with prices hitting $300.

Ultimately, you are the one in the position to best understand your cashflow situation, and whether you believe it to be prudent to dip out of some (or all of your btc) while btc is in an ongoing correction phase.

Likely, you recognize that this ongoing correction phase has been going on since December, yet surely when such correction started, we did not know how far or how long such correction would take place - so to me, it seems a bit imprudent to be making any kinds of large (purportedly emergency) selling of bitcoin at these price levels and under these circumstances.. accordingly, I am suggesting that you have been gambling too much if you let your cashflow issues rise to such a level that you are forced to liquidate substantial portions of your BTC based on what seems to have been gambling with too much of your cashflow...

Of course, you can assess the situation to be different, yet based on what information you have provided, I have already stated my tentative conclusion.. and accordingly, we seem to be in buying or HODLing territory rather than selling territory - even though anyone can conclude for themselves to be in another situation and of course, if you are in profits (and sell all or some of your BTC at these price points), then you are not in as much of a bad situation than if you are selling in the negative (and I don't know enough about your situation to understand that, even though I recall prior posts from you (about 6 months ago or more) in which you were expressing considerable concern (emotion) about the price going down, which largely shows that you are either over-invested or gambling too much (which is describing the same phenomena using different words).